President Joe Biden says he's had productive talks with House Speaker Kevin McCarthy and Biden says "there will be no default." He spoke at the White House on May 25. Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com Connect with us on... Twitter: https://twitter.com/business Facebook: https://www.facebook.com/bloombergbusiness/ Instagram: https://www.instagram.com/quicktake/?hl=en
In 2020, billionaire investor Ray Dalio famously claimed that "cash is trash." He later elaborated that cash is not safe because "it will be taxed by inflation." But as time passed, Dalio's view on cash has made a U-turn. "Temporarily, right now, cash I think is good ... and the interest rates are fine. I don't think it will be sustained that way," he said at the Milken Institute Asia Summit in Singapore last week. In the U.S., the Federal Reserve has implemented significant interest rate hikes
In a big shift, anyone who took in more than $600 a year from reselling tickets could be in for a tax surprise.
Part of retirement planning includes determining how much to save and invest so you can enjoy the type of lifestyle you desire. Setting your savings target by age can be a good way to organize your strategy and gauge how … Continue reading → The post How Much Does the Average 70-Year-Old Have in Savings? appeared first on SmartAsset Blog.
Walt Disney hosted a parks-focused analyst meeting at Walt Disney World, where speakers included CEO Bob Iger, Disney Parks, Experiences and Products Chairman Josh D’Amaro, and ESPN Chairman Jimmy Pitaro, as well as a number of other executives. On the stock, we have found investors mostly on the sidelines this year as the company works to define its strategic future, but like shares at this level and expect in the next six to 12 months that major questions around Hulu, an ESPN investment, and a linear sale (or not) will be answered, which should give investors more confidence in long-term value creation at the company.
Several factors can shrink your monthly Social Security benefits payment. Here are three of the most common.
The U.S. Federal Reserve has implemented 11 interest rate hikes in the last 18 months. While the Fed decided to leave its benchmark interest rates unchanged at its latest meeting, CNBC's Jim Cramer does not believe that the central bank is done with hawkish moves. "Labor's still tight, housing's tight, mortgage rates are high ... they've doubled and it hasn't affected housing at all. We have 3.8% unemployment, inflation rate close to 4% — the Fed's targeting 2%," Cramer said during Wednesday's "
Overall, this year has seen a solid turnaround from last year’s losses. The S&P 500 and the NASDAQ are both showing year-to-date gains, of 16% and 27% respectively. That holds, even as the last few weeks have been disappointing; the S&P is down ~4% this month, and the NASDAQ is down 6%. One thing is clear: tech stocks powered the year’s gains, riding high on the surge of interest in artificial intelligence tech, AI, which burst into prominence with ChatGPT’s release last November. AI has transfo
What to make of the markets today? It seems that no matter where we look, the currents are pulling in two directions simultaneously. Recessionary forces, both inflation and higher interest rates, are running headlong into a remarkably resilient economy – but according to earnings results, we actually saw a mild recession early last year, and are in a recovery period. The conventional wisdom is no longer calling for a steep ‘double dip’ recession, but is predicting that growth will slow down shar
If $1 million was once the consensus target for retirement savings in the U.S., that appears to be changing. A recent Schwab Retirement Plan Services survey found that 401(k) plan participants across the country now believe they must save $1.9 … Continue reading → The post 401(k) Plan Participants Say They Need to Save This Much to Retire appeared first on SmartAsset Blog.
Insurance registration data collected by Citi analyst Jeff Chung shows a decline in weekly sales of the company's EVs in China this month.
Who says higher interest rates are bad for S&P 500 stocks? A select group is thriving even as the Federal Reserve hikes.
The Russian leader has attempted to shield the worst effects of the war from his countrymen, but prices for the fuels have been reaching record levels domestically.
Investors should watch the $260 level for the EV maker's share price. A close below that could mean additional declines.
Two long-delayed refineries outside the U.S. are set to ramp up production, pumping out about 1 million more barrels a day of fuel.
The ninth month of the year is the S&P 500’s worst, but some signs suggest that it’s getting close to bouncing.
Grantham told his “favorite loser story” of when he called Tesla shares “incredibly expensive,” only to watch them skyrocket.
Time is running out for U.S. lawmakers to avoid a government shutdown. Here's how that could affect Social Security recipients.
Media magnate Rupert Murdoch on Monday announced that he would be stepping down as the leader of both Fox News' parent company and his News Corp media holdings — with his son, Lachlan, set to take his place. Through his decades-long career, Murdoch, 92, built an empire — beginning with his father's newspaper in Adelaide, Australia — and became a multibillionaire. In the U.S., his creation of Fox News has notably influenced American politics, making Murdoch a hero to some and pariah to others.
Grantham opined about his experience driving a Tesla, the biggest bubble in world history, and why real estate is in a global bubble.
After a two-day drop, 30-year mortgage rates have roared higher. Surging almost a quarter of a point, the 30-year average has now set a new 22-year high.
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