DIRS.INFO The most relevant business & tech news

☆ Interest rates are staying high—how to make them work in your favor
▼ + stars: | 2024-05-03 | by ( Gabriel Cortés | ) www.cnbc.com time to read: +2 min

If you were hoping interest rates might come down this spring, you're likely going to have to wait a little bit longer. After more than a decade of near-zero interest rates, savers are now in an environment where they're being rewarded for keeping deposits in the bank. And with interest rates staying at their decades-long high for longer, savers have an extended window to take advantage of everything banks are offering. "We did a study recently and found that very few people are earning even 4% on their savings," Rossman says. Now is a great time to shop around for the most favorable terms and lock in those interest rates while they're here, Rossman says.

Persons: That's, Ted Rossman, Rossman Organizations: U.S . Federal Reserve, Federal Deposit Insurance Corporation Locations: U.S

"It is becoming clearer and clearer that the Fed isn't going to lower interest rates anytime soon," said Matt Schulz, chief credit analyst at LendingTree. "If Americans want lower interest rates, they're going to have to do it themselves." What determines your credit card rateSince most credit cards have a variable rate, there's a direct connection to the Fed's benchmark. It's also an ideal time for consumers to take advantage of all the options credit card issuers are offering. A balance transfer credit card moves your outstanding debt from one or more credit cards onto a new card, typically with a lower interest rate.

Persons: —, Matt Schulz, Michele Raneri, aren't, Schulz, Ted Rossman, Rossman, It's Organizations: Federal Reserve, TransUnion, Finance, Treasury Department Locations: U.S

☆ The Fed hasn't touched interest rates since July, but they're still moving. What that looks like for credit cards, mortgages and savings accounts
▼ + stars: | 2024-03-20 | by ( Gabriel Cortés | ) www.cnbc.com time to read: +4 min

It's one of the silver linings to the current rate environment, said Ted Rossman, chief credit card analyst at Bankrate. Credit cardsThe flip side to the positive environment for savers is the expensive credit card market: Consumers carrying balances on their cards face historically high rates. "The Fed is not going to come to your rescue on credit card rates," Rossman said. The Fed is not going to come to your rescue on credit card rates. Mortgage ratesWhile savings and credit card rates are very sensitive to maneuvers from the Federal Reserve, the area that might see the most movement is housing.

Persons: Ted Rossman, There's, Rossman, they've, they'd, Bankrate Rossman Organizations: Hinterhaus, Getty, U.S . Federal Deposit Insurance Corp, Federal Reserve

This confidence is echoed by other recent metrics, including a survey by Morgan Stanley showing that consumer sentiment hit a five-month high in January. Economists who spoke to CNBC Make It say it's likely the cumulative effect of wage growth, low unemployment and slowing inflation. "But with slowing inflation and strong wage growth, adjusted-for-inflation incomes are increasing, giving consumers more buying power," he says. Wages increased 5% in January 2024, a three-month moving average of nominal wage growth for individuals, as measured by the Atlanta Fed's Wage Growth Tracker. Wage growth, slowing inflation and low unemployment are the main factors for improved optimism among Americans, Ernest says.

Persons: Morgan Stanley, what's, Robert Johnson, Here's, Gus Faucher, Johnson, Jonathan Ernest, Ernest Organizations: of Michigan, Consumers, New York Federal Reserve, CNBC, Creighton University's Heider College of Business, PNC Financial Services Group, U.S . Department of, Treasury, Federal Reserve, Stock, Case Western Reserve University Locations: New, Atlanta

JPMorgan Chase , Wells Fargo and Bank of America reported a combined $2.2 billion in overdraft fees in 2023, roughly $700 million less than the previous year, according to regulatory filings. Overdraft fees are triggered when a customer attempts to spend more than the balance in their checking accounts. Banks say overdraft services are a lifeline that helps users avoid worse options like payday loans, while critics including President Biden say the fees exploit struggling Americans. But even before recent efforts by regulators, banks' haul from overdraft has been on the decline. Those who kept the fees, including JPMorgan, limited the types of transactions that trigger penalties, got rid of fees for bounced checks and introduced one-day grace periods and $50 cushions to reduce their frequency.

Persons: Michael Nagle, Wells, Banks, Biden, Sen, Elizabeth Warren, Jamie Dimon, Dimon, Ally, there's, Jennifer Tescher Organizations: JPMorgan Chase, Bloomberg, Getty, Bank of America, Consumer Financial, Bureau, Capital, Citigroup, JPMorgan, Financial Health Network Locations: New York, Wells Fargo, overdraft

☆ How interest rates have changed over the last 12 months for mortgages, car loans, credit cards and more
▼ + stars: | 2024-01-30 | by ( Gabriel Cortés | ) www.cnbc.com time to read: +5 min

"Interest rates took the elevator going up; they're going to take the stairs coming down," McBride said. As the Fed goes into its first Federal Open Market Committee meeting of 2024, here's what that elevator ride up has looked like over the last 12 months in five major consumer categories: credit cards, savings accounts, certificates of deposit, auto loans and mortgages. Credit cardsNowhere has that express rate elevator been more obvious than with credit cards. Even as the Fed slowed the pace of increases over the last 12 months, the average APR for credit cards rose more than a full percentage point. He cautions, however, that buying a car is still a major expense, regardless of what interest rates are.

Persons: Greg McBride, McBride, they've, " McBride, They've, you've Organizations: U.S . Federal Reserve, Federal Reserve, Finance Locations: U.S

Psychology and RelationshipsHarvard psychologist: If you use any of these 7phrases, you 'may have low emotional intelligence'

Organizations: Harvard

☆ The 2023 U.S. economy, in a dozen charts
▼ + stars: | 2024-01-07 | by ( Gabriel Cortés | ) www.cnbc.com time to read: +3 min

Spending remained high, markets posted big gains and the Federal Reserve's battle against inflation showed signs of cooling — without freezing. The U.S. labor market ended the year strong, creating more than 200,000 jobs in December, according to figures released Friday by the U.S. Bureau of Labor Statistics. Here are nine other charts that show how the economy rounded out 2023. Inflation, wages and spendingWhile inflation continues to be top of mind for U.S. consumers, the rate of inflation cooled significantly in 2023. Even assets such as crypto saw a rebound in 2023 after hitting a low in November of the previous year.

Persons: Ed Jones, Barbie, Oppenheimer, Taylor, Jerome Powell Organizations: AFP, Getty, U.S . Bureau of Labor Statistics, Transportation Security Administration, Dow Jones, Nasdaq, Reserve Locations: Square , New York, U.S

The U.S. minimum wage can be a complicated thing. There's the federal minimum wage, each state's minimum wage — plus some cities have their own minimum wages as well. On top of that there's also the tipped minimum. Workers across industries are subject to minimum wage pay and it helps to prepare for what your salary could look like. Take Make It's quiz to find out how much you know about the minimum wage nationally, locally and per industry.

Persons: there's Organizations: U.S, Workers

A well-nourished brain is a highly efficient brain. It can quickly adapt to new information, make sound decisions and process complex thoughts. On the other hand, a brain deprived of essential nutrients can suffer from diminished cognitive abilities, reduced memory capacity and increased risk of neurodegenerative diseases. By nourishing our brains with the right nutrients and foods, we can enhance memory, focus and overall mental performance. Take this quiz to see how your diet compares to everyone else:Click here for the quiz

☆ Protect your portfolio income from hefty state taxes with these funds
▼ + stars: | 2023-10-26 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Investors in high-tax locales can protect some of their portfolio income from steep levies by adding state-specific municipal bond funds to their fixed-income roster. "In the muni bond fund market, we're seeing yields higher than they have been in more than a decade," said Amy Arnott, portfolio strategist for Morningstar Research Services. That's because while muni bond income is generally free of federal taxes, it can also avoid state levies if the investor resides in the state where the bond was issued. That's where state-specific muni bond funds come into the picture. See below for a chart of 10 large state-focused muni bond funds.

Persons: Bonds, haven't, Amy Arnott, Dan Herron, Herron, Arnott, CNBC's Gabriel Cortes Organizations: Federal Reserve, Muni Bond ETF, Morningstar Research Services, Vanguard, SEC, Vanguard New, CPA, Wealth Advisors, muni Locations: California, New York, Massachusetts, Ohio, Jersey

The current dating landscape is teeming with bad experiences and even worse advice. When it comes to finding a potential partner, figuring out what to focus on and what to let go can feel impossible. We talked to a handful of relationship and dating experts about how to navigate your way out of singledom and into a healthy relationship. See if you can spot what they say are red flags, green flags and beige flags while dating.

Rest is vital, and it can be difficult to determine if you're getting enough of it or if bad sleep habits are impacting other areas of your life in a negative way. We talked to sleep doctors and specialists to help you determine if you're following the best practices to sleep well at night. Take this quiz to find out how your behaviors affect your sleep, and what may need to change.

☆ Stocks may be losing market leader just ahead of August inflation reports next week
▼ + stars: | 2023-09-08 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

The stock market may be losing one of its leaders heading into the release of key inflation reports next week that could clarify the path of future monetary policy. Apple weakness However, even after Apple's drop this week, some investors expect to see further declines in Apple because of deteriorating stock price momentum. A hotter-than-expected price report will likely add to investor concern over sticky inflation and tighter monetary policy, weighing on equities. Monday Sept. 11 Earnings: Oracle Tuesday Sept. 12 6 a.m. NFIB Small Business Index (August) Wednesday Sept. 13 8:30 a.m. Consumer Price Index (August) 8:30 a.m. Initial Claims (09/09) 8:30 a.m. Producer Price Index (August) 8:30 a.m. Retail Sales (August) 10 a.m. Business Inventories (July) Earnings: Lennar , Adobe , Copart Friday Sept. 15 8:30 a.m.

Persons: Rob Ginsberg, Tim Cook, selloff, Wolfe Research's Ginsberg, Ginsberg, Dan Niles, Satori, Wolfe's Ginsberg, Alex McGrath, FactSet, isn't, Price, —, Michael Bloom, Gabriel Cortes Organizations: Apple, Wolfe Research, Dow Jones, Nasdaq, Nvidia, Tech, Satori Fund, U.S . West Texas, ICE Brent, Federal Reserve, Wealth, Traders, United Auto Workers, UAW, Big Three, General Motors, Ford Motor, Treasury Budget, Retail, Adobe, Price, Index, Manufacturing Locations: China, Apple, U.S, @CL, Michigan

☆ Here's where the jobs are for August 2023 — in one chart
▼ + stars: | 2023-09-01 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The Labor Department said Friday that the economy added 187,000 jobs in August even as the unemployment rate ticked up to 3.8%. The August jobs report was another sign that the U.S. labor market is cooling off, though some of the sectors that have fueled the post-pandemic rebound remain strong. "Leisure and hospitality still remains well below pre-pandemic levels of employment, and well below pre-pandemic trends in employment. That was driven by a drop of nearly 37,000 positions in trucking, which the Labor Department attributed to a business closure. The sub-category for motion picture and sound recording dropped close to 17,000 jobs, the Labor Department said.

Persons: we're, Andrew Patterson, Patterson, CNBC's Gabriel Cortes Organizations: Labor Department, Vanguard, Hollywood Locations: United States

☆ It was a poor month for the Nasdaq. History shows it could get worse before it gets better
▼ + stars: | 2023-08-28 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

August is shaping up to be a poor month for the Nasdaq Composite, but history suggests that it will only get worse before it gets better. The Nasdaq Composite is headed for its worst month since May, down more than 4%. The Dow Jones Industrial Average and the S & P 500 were down more than 2% and 3%, respectively. September is actually the only month out of the year that the Nasdaq Composite averages a negative return, as well as the lowest rate of advance. On Monday, however, the Nasdaq Composite appeared to consolidate somewhat from its August lows.

Persons: It's, Sam Stovall, Stovall, John Roque, NVDA, manna, sloppily, Roque, — CNBC's Michael Bloom, Gabriel Cortes Organizations: Nasdaq, Dow Jones Industrial, Nvidia, Research, Meta

The suits allege that downed power lines operated by the company contributed to the deadliest U.S. wildfire in more than a century. The wildfire risk posed by aboveground power lines is well documented. Lives lost, billions in damagesThe Maui fires have killed at least 115 people with hundreds still missing. But Mitchell said insulating aboveground power lines with a protective covering is also an effective solution that is cheaper and can be rolled out more quickly. There is also technology coming to market that can de-energize power lines automatically when there's a problem, he said.

Persons: Mike Blake, Fitch, Berkshire Hathaway's, Paul Starita, They're, Singleton Schreiber, Alexandra von Meier, von Meier, Marshall, Michael Dougherty, Bob Frenzel, Xcel, Berkshire Hathaway, PacifiCorp, aboveground, Scott Aaronson, Aaronson, Joseph Mitchell, Mitchell Organizations: Reuters Electric, Hawaiian Electric, National Weather Service, Hawaii Electric, . Pacific Gas & Electric, PG, Xcel Energy, U.S . Forest Service, University of California, Moody's, Fitch, Electric, Alcohol, Tobacco, Firearms, Explosives, Xcel, Marshall Fire, Marshall, Boulder, Labor, Fire, American Society of Civil Engineers, ASCE, The Edison Electric Institute, California Public Utilities Commission Locations: Lahaina, Maui, Hawaii, U.S, Maui County, Hurricane, California, Berkshire, Berkshire Hathaway's PacifiCorp, Oregon, Colorado, Berkeley, Minnesota, Boulder County, Paradise, Golden

That has made it tricky to predict consumer spending. The swirl of confusing trends tees up a closely watched retail earnings season that could offer more clarity about consumers and the economy. As inflation cools, the growth of average hourly earnings has begun to outpace the rise in the consumer price index. He called low unemployment "the big offset that's helped consumer spending hang in." "I thought with all of the revenge travel that's been happening, that would impact consumer spending on goods," she said.

Persons: Aditya Bhave, that's, Andrew Garthwaite, That's, Levi Strauss, Chip Bergh, Michael Baker, Davidson, splurge, Baker, Taylor Swift, Davidson's Baker, Nikki Baird, she's, I'm, Corie Barry, headboards Organizations: Getty, Bank of America, Target, Walmart, JPMorgan, Wall, Federal Reserve, Credit Suisse, U.S, of Labor Statistics, CNBC, . Bureau, Labor, D.A, New York Federal Reserve, Federal Reserve Board Locations: Waterbury , Connecticut, U.S, Italy

Concern over the sector had waned after second-quarter results showed most banks stabilized deposit levels following steeper losses during the March regional banking crisis. "Bank profitability has peaked for the time being," Arsov said. Shrinking profit margins, along with relatively lower capital levels compared to peers at some regional banks and concern about commercial real estate defaults, were key reasons Moody's reassessed its ratings on banks after earlier actions. In March, Moody's placed six banks, including First Republic, under review for downgrades and cut its outlook for the industry to negative from stable. The analyst stressed that the U.S. banking system was still strong overall and that even the banks it cut were rated investment grade, indicating a low risk of default.

Persons: They've, Banks, Ana Arsov, Arsov, Moody's Organizations: Bloomberg, Getty, Silicon Valley Bank, Moody's Investors Service, First Republic, Bank Locations: U.S, Silicon

WASHINGTON — The United States and its Western allies are looking to China to help resolve the calamitous domino effect of Russia's exit from a crucial U.N.-backed agriculture deal. Beijing, one of Moscow's most strategic allies and the world's second-largest economy, was the indisputable top recipient of Ukrainian agricultural products under the landmark agreement known as the Black Sea Grain Initiative. After nearly a year in place, Russia ditched the pact last month, citing frustrations that the deal only benefited Ukraine. The agreement eased Russia's naval blockade in the Black Sea and established a maritime humanitarian corridor which saw the passage of more than 1,000 ships carrying nearly 33 million metric tons of Ukrainian wheat, barley, corn and sunflower meal. Since the inception of the July 2022 deal, which was brokered nearly six months into Russia's full-scale war, Chinese ports have welcomed 8 million metric tons of Ukrainian agricultural products, the lion's share according to data provided by the United Nations.

Persons: WASHINGTON Organizations: Initiative, United Nations Locations: United States, China, Beijing, Russia, Ukraine

A side hustle can be a great way to boost your income. It might even help you pivot to a new career altogether. But your side hustle should cater to your unique skills, interests and work style. I've helped thousands of people launch profitable side hustles or full-time gigs, and there are three types of businesses you can start today with $0 down. Take this quiz to find out which one is best for you:(Click here to take the quiz)

Persons: I've

When you have high emotional intelligence, you have a deep understanding of your feelings — and everyone else's. Highly emotionally intelligent people are successful in both their professional and personal lives. Their ability to truly connect and empathize with people makes them better leaders, communicators and relationship builders. Can you tell what's the emotionally intelligent reaction to these 10 situations? (Click here to view interactive content)

Persons: else's

The "slow and go" pace of the International Longshore and Warehouse Union workforce at West Coast ports has slowed ground port productivity to a crawl. "Our data shows that vessels will continue arriving at West Coast ports in the coming days with significant amounts of cargo to unload," said Kyle Henderson, CEO of Vizion. Truck and container backupsThe average truck turns to go in and out of the West Coast ports are up. West Coast ports, which had lost significant volume to East Coast ports over the past year due to volatility in the labor contract talks, had in recent months begun to gain back volume. Recent Panama Canal low water levels limited cargo throughput, and soon after that, large parts of U.S. West Coast ports stopped handling inbound and outbound container trade.

Persons: Kyle Henderson, lashers, Xeneta, Peter Sand, Hapag Lloyd, Paul Brashier, Jerome Powell, Jonathan Ostry Organizations: Fenix Marine Services, Warehouse, Port, CNBC, Vizion, Logistics, Pacific Maritime Association, Long, PMA, Marine Services, East Coasts, Fenix Marine, U.S ., East Coast Ports, CMA, ITS Logistics, Los Angeles, Federal, Georgetown Locations: West Coast, Port of Oakland, Port of Los Angeles, Long Beach , California, Oakland, Los Angeles, Long, Port of Long, Long Beach, Seattle, Tacoma, West, U.S, East, Coast, East Coast, Panama, U.S . West Coast, Gulf, Asia, South America, Los, Houston, Savannah

☆ Here’s where the jobs are for April 2023 — in one chart
▼ + stars: | 2023-05-05 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

Broad job gains across the economy helped the labor market show resilience in the face of a banking crisis and growing recessionary concerns. Friday's data bolsters the argument that the labor market has remained idiosyncratically strong despite signs that the broader economy has slowed. Almost one out of every four of the new jobs were in health care and social assistance, which added about 64,200 in the month. Professional and business services saw the second largest growth in April at 43,000, which is more jobs than it has added in an average month over the past half-year. Professional, scientific and technical service jobs accounted for the bulk of the sector's gains with a 45,000 increase.

Bitcoin officially launched in 2009, and now, 14 years later, over 15,000 digital coins make up the cryptocurrency market, according to crypto.com. Although the industry was once valued at around $3 trillion, the crypto market lost a little over $2 trillion in value in 2022 in what has been dubbed "crypto winter." Last year, a string of high-profile crypto companies filed for bankruptcy, and FTX, a crypto exchange platform that was once valued at $32 billion, collapsed. As of April 25, its price hovered around $28,000, far below the $68,000 it reached at its peak in November 2021. Test your knowledge with CNBC Make It's Crypto 101 quiz.

Search resuls for: "Gabriel Cortés"

25 mentions found