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☆ Here are some options to reduce taxes on your savings interest this year
▼ + stars: | 2024-05-16 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Many Americans are earning more on cash after interest rate hikes from the Federal Reserve — and that income can trigger a surprise at tax time. "So many people were shocked by their cash interest earned" and taxes owed, said Boston-based certified financial planner Catherine Valega, founder of Green Bee Advisory. Interest from savings accounts or certificates of deposits incurs regular or "ordinary income" taxes, depending on your federal income tax bracket. Some investors also owe state taxes on interest. Meanwhile, some of the biggest money market funds were paying north of 5% as of that date, according to Crane Data.

Persons: Catherine Valega, Trump Organizations: Federal Reserve, Green Bee, IRS, Finance, Biden, Data Locations: Boston

Just as Wall Street appeared to come to terms with the idea of high interest rates sticking around for longer, a cooler-than-expected jobs report on Friday brought the idea of rate cuts back into the conversation. The Labor Department reported that job and wage growth in April came in lower than economists had expected, a shift after months of piping-hot labor market reports. The findings rekindled hopes that the Federal Reserve — which has been looking for signs that interest rates are slowing the economy — may yet cut rates before the end of the year. “This is the jobs report the Fed would have scripted,” said Seema Shah, chief global strategist at Principal Asset Management. The S&P 500 rose 1.3 percent on Friday, its best day in more than two months.

Persons: ”, Seema Shah, Russell Organizations: Labor Department, Federal, Asset Management

☆ Trump warns the market will crash if he loses. Investors just laugh
▼ + stars: | 2024-02-27 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —Former President Donald Trump is once again warning the stock market is doomed unless voters return him to the White House. He went on to say a loss for him would spark “the largest stock market crash we’ve ever had.”But there is no evidence to support that claim. “This is just an encore presentation of what he said last time,” said Art Hogan, chief market strategist at B. Riley Financial. In fact, the stock market has generated higher annual returns when Democrats are in power. It’s true that Trump’s surprise victory in November 2016 helped spark an impressive rally in the stock market as investors bet on deregulation, tax cuts and infrastructure.

Persons: Donald Trump, Trump, you’re, ” Trump, ”, Brian Gardner, “ There’s, ” David Kelly, “, Kelly, Joe Biden, Biden, Hogan, ” Sam Stovall, he’s, “ It’s, Dow, ” Kelly, Gardner, James Singer, CNN it’s “, ” Singer, Jerome Powell —, Powell, Jerome Powell, Greg Valliere, Trump’s Organizations: New, New York CNN, CNN, White, Trump, Asset Management, Dow, Riley, CFRA Research, GOP, “, Nasdaq, Federal Reserve, JPMorgan, Biden, Republicans, Democrat, Research, —, Republican, AGF Investments Locations: New York, Washington, Trump, China

☆ GEHC stock finally gets some respect after earnings. Those betting against it got slammed
▼ + stars: | 2024-02-06 | by ( Jeff Marks | ) www.cnbc.com time to read: +8 min

Business at GE Healthcare Technologies capped off 2023 on a strong note despite ongoing concerns about China. The quarterly earnings result from GE Healthcare on Tuesday is the best of both worlds. Quarterly commentary In addition to the mid-single-digit organic revenue growth, total company orders increased by 3%. The continued divergence in orders between the two companies suggests GE HealthCare is taking market share in the industry. A GE Healthcare Ltd. BioProcess machine stands on display during the International Pharmaceutical Expo (Interphex) in New York.

Persons: Eli Lilly, GEHC, It's, Jim Cramer, Philips, we're, GEHC's, We're, Jim Cramer's, Jim Organizations: GE Healthcare Technologies, The, Starbucks, GE Healthcare, General Electric, GE HealthCare, Management, JPMorgan Healthcare, Federal Reserve, CNBC, GE Healthcare Ltd, International Pharmaceutical, Bloomberg, Getty Locations: China, ultrasounds, MRIs, New York

☆ The advertising environment is getting tougher to navigate. How these investors are trading it
▼ + stars: | 2023-11-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

A strong advertising market may be starting to feel the pressure from geopolitical risks erupting aboard and a higher-for-longer interest rate environment. But comments from some major technology players last week led to increasing questions that some investors have struggled to shake off. META 5D mountain Meta shares in recent trading sessions That concern added to declines in other ad-focused technology names, with Alphabet dropping nearly 10%. Instead, Tengler favors companies such as Amazon and Microsoft , which offer some, but less concentrated, exposure to advertising. Technology investor Paul Meeks is also shying away from the most popular advertising players — and big technology as a whole — until he sees a better setup for interest rates.

Persons: Susan Li, Gene Munster, Laffer, Nancy Tengler, Paul Meeks, Meeks, Roth, Rohit Kulkarni, Kulkarni, Michael Bloom Organizations: Apple, Meta, YouTube, Federal, Investments, Microsoft, Technology Locations: Israel, Munster, Ukraine

☆ Capitalize on once-in-a-generation opportunities in the bond market by making these 5 moves now, according to 6 leading fixed income strategists
▼ + stars: | 2023-10-10 | by ( James Faris | ) www.businessinsider.com time to read: +11 min

Yahoo FinanceHowever, six leading fixed income investors are confident that the pain won't last much longer. Michele continued: "I've been doing this since 1981, so I've seen a decade of double-digit bond yields with disinflation. Alex Petrone, the director of fixed income at Rockefeller Asset Management, agreed that it's too soon to write off a recession. Nailing timing helps maximize returns, though fixed income experts said that's difficult because the Fed's policy decisions are unpredictable. Buying Treasuries and municipal coupons on both the long and short ends of the curve are how she recommends playing fixed income.

Persons: Jonathan Mondillo, you've, Bob Michele, Michele, I've, we'll, Federal Reserve —, Robert Robis, Robis, Alex Petrone, it's, Petrone, Mary Daly, David Schiffman, Roger Aliaga, Diaz, Aliaga, Mondillo, Schiffman Organizations: Yahoo Finance, JPMorgan Asset Management, isn't, Federal Reserve, BCA Research, Rockefeller Asset Management, Fed, San Francisco Fed, Aquila Investment Management, Vanguard's Investment, Investment Locations: Scotland, bottoming, Abrdn, Aquila, Treasuries, CCC

☆ Supreme Court case may gut the CFPB: Consumer watchdog's ‘future is on the line,’ group says
▼ + stars: | 2023-10-03 | by ( Greg Iacurci | ) www.cnbc.com time to read: +4 min

Visitors walk across the U.S. Supreme Court plaza on the first day of the court's new session on Oct. 2, 2023. Bill Clark | Cq-roll Call, Inc. | Getty ImagesWhy the CFPB's funding may be unconstitutionalThe Consumer Financial Protection Bureau headquarters in Washington. Lawmakers created the federal agency to protect consumers from predatory financial practices. The Supreme Court ruled against the agency in a 2020 case, Seila Law v. CFPB, finding part of its structure to be unconstitutional but ultimately keeping the agency intact. Instead, the CFPB's funding isn't authorized by Congress each year.

Persons: Bill Clark, Washington . Samuel Corum, Dodd, Frank, —, John Coleman, Orrick, Coleman, Rohit Chopra, Tom Williams Organizations: U.S, Supreme, Cq, Inc, Getty, Financial, Bloomberg, Lawmakers, U.S ., Appeals, Circuit, Congress, Federal Reserve, 5th Circuit, Congressional Research Service, Mortgage Bankers Association, National Association of Home Builders, National Association of Realtors Locations: Washington .

Average 30-year mortgage rates reached a 23-year high of 7.31% this week, according to Freddie Mac. "However, unlike the turn of the millennium, house prices today are rising alongside mortgage rates, primarily due to low inventory. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. 30-Year Fixed Mortgage RatesThis week, the average 30-year fixed mortgage rate was 7.31%, according to Freddie Mac.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, it's Organizations: Federal, Zillow Locations: Chevron

☆ Central banks across Europe pause for breath after mammoth rate hike run, but face 'triple dilemma'
▼ + stars: | 2023-09-25 | by ( Jenni Reid | ) www.cnbc.com time to read: +7 min

U.K. pauseThe Bank of England opted to pause interest rate moves after 14 straight hikes, keeping its main policy rate at 5.25%. The decline came despite interest rate hikes generally boosting the value of a currency. Scandinavian inflationIn northern Europe, Norway and Sweden opted for rate hikes on Thursday and suggested that further tightening could be ahead. Norway's headline inflation rate was 4.8% in August, with core inflation at 6.3%. The Norges Bank forecast now indicates a policy rate of 4.5% through 2024, up from the current 4.25%.

Persons: Bank of England Andrew Bailey, BoE, Alastair Grant, ALASTAIR GRANT, Carsten Brzeski, BOE, Andrew Bailey, Paul Dales, Simon French, Panmure Gordon, Thomas Jordan, Jordan, Ida Wolden Bache, Bache Organizations: Bank of England, The Bank of England, Getty, Afp, ING, CNBC, of England, Capital Economics, U.S . Federal, HSBC, Panmure, Swiss National Bank, European Central Bank, ECB, U.S, Norway's Norges Bank, Norges Bank Locations: London, U.K, Paul, Switzerland, Swiss, Europe, Norway, Sweden, Norway's

☆ Take the Fed forecast with a grain of salt. It has a terrible track record
▼ + stars: | 2023-09-20 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

On Wednesday, the Federal Reserve will publish its latest economic forecasts. Swedroe recently wrote an article where he looked at one simple metric: the Fed's effort to project its interest rate increases for 2022. The Federal Reserve raised the Fed funds rate seven times in 2022, ending the year with the target rate at 4.25%-4.50%. Yet the Fed has a poor track record predicting not just interest rates, but other issues such as GDP growth. Swedroe's conclusion: "If the Federal Reserve, which sets the Fed funds rate, can be so wrong in its forecast, it isn't likely that professional forecasters will be accurate in theirs."

Persons: Larry Swedroe, Swedroe, Federal Reserve — Organizations: Federal Reserve, Strategic, Federal, CPI, New York Stock Exchange

☆ 'House-rich' Americans are sitting on nearly $30 trillion in home equity. Here's how to tap it
▼ + stars: | 2023-09-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Thanks to skyrocketing housing prices, homeowners are now sitting on nearly $30 trillion in home equity, according to the St. Louis Federal Reserve — just shy of the 2022 peak. How to tap your home for cashFactor in the terms, rates and risksWhen it comes to borrowing against your home, the terms can vary greatly, according to a LendingTree report that analyzed more than 580,000 home equity loan offers across the country. The average home equity loan amount offered to homeowners is $104,102, LendingTree found. Access to HELOCs has improved, although the most preferable terms still go to borrowers with higher credit scores and lower debt-to-income ratios. "Though a home equity loan can be a good way to pay for big expenses, like major renovations, or to consolidate high-interest debt, getting one isn't without drawback," added Jacob Channel, LendingTree's senior economist.

Persons: Louis Federal Reserve —, LendingTree, Nicole Bachaud, Jacob, LendingTree's Organizations: Louis Federal Reserve Locations: Homes, Iowa, Maryland

☆ Stock-market investors rarely see a recession coming despite warning signals. As all the classic alarm bells ring again, this time is no different, experts say — setting investors up to get crushed.
▼ + stars: | 2023-08-05 | by ( William Edwards | ) www.businessinsider.com time to read: +5 min

The S&P 500 has rallied 17% year-to-date, but the Treasury yield curve and LEI point to a downturn. For Rosenberg, the difference is that we currently have an inverted yield curve, a recession signal that has preceded every downturn since the 1960s. An inverted yield curve means that rates on short-duration Treasurys rise higher than rates on long-duration Treasurys. The yield curve inverts often during Fed hiking cycles because short-term Treasury rates track closely along with the fed funds rate. The below chart shows the share of consecutive trading days where the yield curve has been inverted.

Persons: Piper Sandler's Michael Kantrowitz, David Rosenberg, Rosenberg, —, Here's Lacy Hunt, here's Rosenberg, Piper Sandler, Piper Sandler Kantrowitz, Kantrowitz Organizations: Rosenberg Research, Federal, Hoisington Investment Management Company, of Labor Statistics

☆ You can thank the American retail consumer for the soft landing
▼ + stars: | 2023-07-18 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

Economists this week are embracing a higher probability that the Fed will achieve a "soft landing." A much-hoped-for "soft landing" indeed seems increasingly likely now as inflation cools and the job market remains strong. US retail and food services sales were up 1.6% from April to June, following a slight decline in March. "Consumers are far from depressed, but neither are they in celebratory mood," GlobalData retail analyst Neil Saunders said in a note. As consumer spending accounts for roughly 70% of the US economy, the continued strength in that area has been key to the US outperforming every other wealthy nation in the world.

Persons: —, Jerome Powell, Alastair Borthwick, Neil Saunders Organizations: Fed, Service, Commerce Department, Bank of America, Retailers Locations: Wall, Silicon

☆ Welcome to the Dollar War: a Global Fight Over America's Economic Dominance
▼ + stars: | 2023-07-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +17 min

The US even reminded everyone just how influential the buck is when it effectively froze Russia out of the global financial system with sanctions last year. Becoming the issuer of the global reserve currency is about trust. The US has controlled the global reserve currency for 102 years — giving it a special status in the world economy. Still, given that the country controlling the global reserve currency holds that status of an average of 94 years, history seems to indicate it's high time for a successor. Why shouldn't the financial world resemble something closer to the mosaic of cultures, politics, and nations that exists today?

Persons: Chenzi Xu, there's, Xu, —, Ron Temple, Gregory Brew, Eurasia's Brew, dollarizing, Stephen Jen, Jen, we've, Stanford's Xu, Luiz Inácio Lula da Silva, Josh Lipsky, " Lipsky, It's, Alexander Wise, Jan Loeys, Loeys, dollarization, Wise, Lazard's Temple, isn't, Phil Rosen Organizations: Stanford, Federal, European Central Bank, People's Bank of China, Lazard, Publishing, Getty Images, International Monetary Fund, Bank of International Settlements, Eurasia Group, Sandman's, Eurizon, IMF, Atlantic Council, JPMorgan Locations: Russia, Israel, France, China, America, Saudi Arabia, Brazil, India, Pakistan, Bolivia, Iraq, South Africa, Beijing

☆ FDIC mistakenly releases confidential information on Silicon Valley Bank depositors, revealing major tech giants that benefitted from government help
▼ + stars: | 2023-06-23 | by ( Katie Hawkinson | ) www.businessinsider.com time to read: +2 min

The FDIC sent Bloomberg an unredacted list of Silicon Valley Bank depositors by mistake. The list reveals that Silicon Valley Bank's biggest depositors included tech giants like Sequoia. Some of these depositors kept their relationship with the bank confidential, Bloomberg reports. After Silicon Valley Bank failed in March, U.S. officials — including President Joe Biden and Treasury Secretary Janet Yellen — described its rescue as a necessary step to protect small businesses. While many early-stage startups banked with the SVB, new documents obtained by Bloomberg show that several global tech giants with significant deposits also benefitted from the government's intervention.

Persons: Joe Biden, Janet Yellen —, Jeff Bezos, — Organizations: FDIC, Bloomberg, Silicon, Morning, Valley Bank, Sequoia, Apple, Google, Altos, Inc, Treasury Department, Federal Locations: Silicon Valley, Sequoia, U.S, SVB

☆ The Book That Changed Robert Rubin’s Thinking About Poverty
▼ + stars: | 2023-06-15 | by ( ) www.nytimes.com time to read: +2 min

In addition to the subject’s fascinating life — among much else, she was Virginia Woolf’s muse and longtime lover — I always enjoy books about that era. What’s the most interesting thing you learned from a book recently? I recently finished a book called “1215: The Year of Magna Carta,” by Danny Danziger and John Gillingham. Our political system and government. You’ll find more recent examples of the genre — especially those by David Baldacci and Daniel Silva — on my shelves, too.

Persons: Victoria Glendinning, ”, Vita, —, Danny Danziger, John Gillingham, I’d, Roger Lowenstein, who’s, Federal Reserve —, haven’t, Chris Whipple’s, Coffin, Dimitrios, Eric Ambler, Helen MacInnes, You’ll, David Baldacci, Daniel Silva — Organizations: Bloomsbury Group, Magna Carta, Wall Street, The Times, Federal Reserve, Scottish Locations: Vita Sackville, West, England, Virginia, Scottish American

☆ Growing number of small businesses worry about inflation and the economy’s future
▼ + stars: | 2023-06-13 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington CNN —A greater number of small businesses are worried about inflation and future business conditions, according to a survey released Tuesday by the National Federation of Independent Business. The Fed keeps a close eye on inflation expectations to know whether or not US consumers have become used to a certain level of inflation. “Overall, small business owners are expressing concerns for future business conditions,” Bill Dunkelberg, NFIB’s chief economist, said in a release. The share of small business owners expecting better business conditions in the future declined in May while the share reporting that inflation “was their single most important problem in operating their business” increased. Officials are confident that inflation expectations remain in check.

Persons: “, Bill Dunkelberg, it’s, ”, Jerome Powell Organizations: Washington CNN, National Federation of Independent Business, Federal, Fed, Labor Statistics, Index, Employers, Market Committee

☆ New York overtakes Hong Kong as the most expensive city in the world for expats, new survey shows
▼ + stars: | 2023-06-08 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +4 min

Hong Kong has ended its four-year reign as the most expensive city globally for expatriates, according to a survey — as New York surpasses it to first place. Hong Kong has ended its four-year reign as the most expensive city globally for expatriates — surpassed by New York which took first place, according to a new survey. Hong Kong fell in our rankings as the increase in prices of day-to-day goods and services was tempered by falls in accommodation costs in the city. Lee Quane ECA InternationalStill, Hong Kong retained its position as the most expensive location in Asia. Reports suggest residents of Hong Kong left the city in droves last year — due to Covid-19 restrictions and what they see as an erosion of democratic norms.

Persons: —, Lee Quane Organizations: New, ECA, assignees, Lee, Asia, U.S . Federal, Urban Land Institute, ULI, Asia Pacific Centre for Housing, U.S ., San Locations: Hong Kong, New York, Asia, Singapore, Asia Pacific, Asia Hong Kong Singapore Seoul Tokyo Shanghai Guangzhou Shenzhen Beijing Taipei Yokohama, Shanghai, Guangzhou, Tokyo, Japan, York, U.S, San Francisco

☆ There are 2 things needed to sustain this year's blistering rally in tech stocks
▼ + stars: | 2023-05-18 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

It said a further rally needs continued profitability at tech companies and rate cuts by the Federal Reserve. The Nasdaq Composite on Wednesday closed at a year-to-date high, at 12,500.57, and it's up more than 19% since the start of the year. While Federal Reserve anticipates a "mild recession" starting later this year, policymakers have indicated they won't begin cutting interest rates until 2024. High interest rates can hurt the potential value of future profit at growth companies. DataTrek said the Fed battling hot inflation "was not a factor during the winning years," it had outlined for the Nasdaq Composite.

☆ First Republic's stock poised to rise for second day as regional bank searches for rescue deal
▼ + stars: | 2023-04-28 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Shares of First Republic were moving higher on Friday as the regional bank looks for a potential rescue deal to reshape its business after suffering massive deposit outflows in the first quarter. The stock was up more than 4% in premarket trading, or about 28 cents, after rising more than 8% on Thursday. The stock has fallen more than 90% this year as investors have lost confidence in the bank after two regional lenders failed in March. Shares of First Republic closed at $16 on Monday before the bank reported its first-quarter results, which showed a decline in deposits of about 40%. The stock fell more than 60% over the next two days, hitting a new all-time low.

Solari wasn't the only American to veer wildly between frugality and all-out spending sprees during the pandemic. In particular, younger people — Gen Z and millennials — have seen the early parts of their careers and critical years of their financial lives defined by the shifting sands of the pandemic economy. The strange pandemic-savings paradoxThe pandemic recession did not actually mean people had no money. The Fed found that the top quartile of earners added nearly $1.5 trillion to their savings through spending reductions, even as the pandemic consumed millennials and Gen Z's savings. If the mantra of the pandemic recession was giving everyday Americans money, the reaction is now to yank that back.

☆ The US housing market is tanking - and the banking fiasco could make things worse, RH CEO Gary Friedman says
▼ + stars: | 2023-03-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The US housing market has slowed dramatically over the past year, RH CEO Gary Friedman said. Soaring interest rates have hit housing demand, and the banking fiasco is a fresh blow, he said. Friedman said the outlook is less clear now than in 2008, and he urged the Fed not to tank the economy. "The fact is, we've been in a massive housing recession for the past year," Friedman continued, adding that "accelerating weakness" in the sector could weigh on his company's revenue and profits for several quarters. Several experts have sounded the alarm on the housing market and economy.

☆ The US dollar is at a crossroads
▼ + stars: | 2023-03-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Wall Street investors are reaching for their neck braces in preparation for yet another volatile swing in stock markets: A surging US dollar. What’s happening: The US dollar “finds itself at a significant crossroads yet again,” said Krosby. Don’t forget the debt ceiling: Another significant threat to the dollar is looming in Congress — the ongoing debt ceiling fight. “It would certainly undermine the role of the dollar as a reserve currency that is used in transactions all over the world. Initial claims have come in lower than expected in recent weeks and remain well below their pre-pandemic levels.

☆ The world's ultra-rich lost about $14 trillion of their wealth in 2022, Knight Frank study shows
▼ + stars: | 2023-03-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The world's ultra-rich lost 13.6%, or $13.8 trillion, of their wealth in 2022, per a Knight Frank report. Just four in 10 ultra-wealthy people saw their wealth rise in 2022, the report says. Just four in 10 ultra-wealthy people saw a boost to their wealth in 2022, but the "overwhelming trend" was negative, Knight Frank said in the report. In 2022, the ultra-rich in Europe experienced the largest decline in wealth with a drop of 17%, followed by Australiasia with 11%, and the Americas by 10%, according to Knight Frank. According to Knight Frank, the ultra-rich parked 32% of their total wealth in their residential properties.

☆ 'Bond ladders are cool again,' says advisor. Here's how to capture higher Treasury bill yields
▼ + stars: | 2023-02-27 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

If you're eager to capture higher yields amid rising interest rates, you may consider a Treasury bill ladder, depending on your goals, according to financial experts. Backed by the U.S. government, Treasury bills, or T-bills, are widely considered a relatively safe asset, with terms of four weeks to 52 weeks. When one expires, you can reinvest the funds for a higher yield, which may be appealing as interest rates rise. More from Personal Finance:Here's how to buy Treasury bills as some yields reach 5%Some Treasury bills are now paying 5%. As of Feb. 27, six-month and 1-year Treasury bills were both paying over 5%.

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