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☆ What the stock market does historically after the first Fed rate cut
▼ + stars: | 2024-09-17 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

The S & P 500 touched a record high on Tuesday , bringing its year-to-date gain to more than 18%. The S & P 500 averaged a 5.5% gain in the first three months after an initial cut, 10.6% six months later and 11.3% one year out. On average, the broader index jumped 10.2% three months later, 14.7% six months out and 18.6% one year afterward. .SPX YTD mountain S & P 500, ytd Other investment banks have noted this discrepancy, with Bank of America Securities also highlighting the pattern in a recent note. The worst-performing sectors 12 months after a rate cut were materials, utilities and consumer discretionary.

Persons: Canaccord, Ohsung Kwon, Canaccord Genuity, — CNBC's Gabriel Cortes Organizations: Federal Reserve, Bank of America Securities

The median house price in the U.S. is now 5.8 times more than the median annual income of $80,000. That was, after all, the median price for a house in the area at the time. Jonathan OchartThe median price of a home in Los Angeles county is just under $960,000, according to Zillow listings data. It's just not a level playing field," says Ochart about the income now needed to afford a home. In Grand Rapids, median home prices were on the rise before the pandemic and then soared 54% from 2020 to $285,000 in June 2024, according to Zillow sales data.

Persons: Kelcie Lesko, Tim Khalil, Lesko, Khalil, they'll, Gen Xers, What's, — there's, they're, Daryl Fairweather, Kelly Diehr, homebuyers, you'd, Diehr, Jonathan Ochart, Ochart, It's, Timothy Ham, Timothy Ham couldn't, Ham, you've, That's, boomer, it's, Lawrence Yun, Millennials, Ramit Sethi, Rich, Brad Klontz, homebuying Organizations: CNBC, Homes, LA, National Association of Realtors, NAR Locations: New Jersey, Monmouth County, North Brunswick, Lesko, homeownership, U.S, Denver, Brazil, Los Angeles and New York, San Antonio, Los Angeles, Antonio, Texas, LA, Boise , Idaho, Tacoma , Washington, Grand Rapids , Michigan, Grand Rapids, Kalamazoo

July marked a third straight month that egg prices rose on an annual basis, a reversal from a year of relative decreases. The culprit was a continued battle against the highly pathogenic avian influenza, known in short as HPAI or the bird flu. Inflation in egg prices became a focus for consumers during the pandemic given their ubiquity in everyday cooking. The bird flu had a historic outbreak in 2022 and surged once again at the end of 2023. That can underscore the impact of any bird flu outbreaks on the prices customers see on grocery store shelves.

Persons: Luke Sharrett, Caitlinn Hubbell, Hubbell, resurgences Organizations: Bloomberg, Getty, Purdue University's Center, Food, Bureau of Labor Statistics Locations: West Lafayette , Indiana, Colorado, California

☆ Here are 6 buying categories cheaper today than they were before the pandemic
▼ + stars: | 2024-07-16 | by ( Gabriel Cortés | ) www.cnbc.com time to read: +3 min

So when worldwide events like the Covid-19 pandemic push inflation well above that 2% target, it can be a real shock to consumers. There are a handful of retail categories, dominated by consumer electronics, that buck the trend and are actually cheaper now than they were before the pandemic, based on a CNBC review of CPI categories in June 2024 compared with June 2019. Same price, better valueEven when annual inflation was at its peak, prices for consumer electronics consistently showed signs of deflation. Such hedonic adjustments — the term BLS uses to describe it's adjustments for changes in item quality — span the whole consumer price index and include categories from men's underwear to home computers to refrigerators. Why televisions continue to be cheapBut hedonic adjustments can't account for everything when the CPI is registering drops in prices.

Persons: it's, Andrew Csicsila, That's, Csicsila Organizations: U.S . Federal Reserve, U.S . Bureau of Labor Statistics, CNBC, CPI, Bureau of Labor Statistics Locations: Americas

Roberto Schmidt | AFP | Getty ImagesIt's no secret that the housing market looks far different than it did a few years ago. While surging mortgage rates and housing prices have taken away consumers' purchasing power, low supply has kept the market competitive. A higher rate, in reality, results in more interest due on a home loan. Housing prices are also central to the equation for everyday Americans decision how much, or if, they can afford to spend. One from the National Association of Realtors found affordability tumbled more than 33% between 2021 and 2023 alone.

Persons: Roberto Schmidt, it's, Dow Organizations: AFP, Getty, Dow Jones, National Association of Realtors, Atlanta Federal, Atlanta Fed Locations: Clarksburg , Maryland

In 2023, Texas led the nation in solar installations on its power grid, surpassing California for its second consecutive year. Explosive power demand poses a challenge to the Biden administration's goal of converting the U.S. power grid to 100% clean electricity by 2035. Nextracker is a leading U.S. solar firm, building systems that allow panels to track to the position of the sun, improving the efficiency of solar power plants. Shugar pointed to the massive number of renewable projects in the U.S. seeking connection to the power grid. But as energy demand increases, the value of each additional hour should rise, eventually making longer duration batteries more cost effective, he said.

Persons: Brandon Bell, Andrés Gluski, Joseph Rand, We've, Kelley, Wells, Goldman Sachs, Biden, Ryan Sweezey, Wood Mackenzie, Richard Kinder, Kinder Morgan, Kinder, Amin Nasser, Nasser, Shugar, Lawrence, Lazard, Nextracker's Shugar, Lawrence Berkeley, Amol Phadke, Rand, Sweezey, Reid Ramdathsingh, Ramdathsingh, Fluence, John Zahurancik, Zahurancik, it's, Zahuranick Organizations: Getty, Renewables, Energy Information Administration, Department of Energy, Big Tech, Microsoft, AES Corporation, Google, AES, Meta, UBS, Solar, Lawrence Berkeley National Laboratory, U.S, Tech, North America, DOE, CNBC, University of California Berkeley's Goldman School of Public, Goldman School, Lawrence, Rystad Energy, Siemens Locations: Ector County , Texas, Texas, California, United States, U.S, Wells Fargo, Saudi, Houston, Lawrence Berkeley, Fluence's Americas

"Consumers need to understand that the cavalry isn't coming anytime soon, so the best thing you can do is take things into your own hands when it comes to lowering credit card interest rates," said Matt Schulz, chief credit analyst at LendingTree. But that hasn't deterred credit card issuers from offering generous terms on balance transfer cards, Rossman said. But right now, it's kind of a Goldilocks environment for credit card issuers." 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, APRs aren't, Schulz, Ted Rossman, Rossman, It's Organizations: Federal Reserve, TransUnion, CNBC, Finance, Treasury Department, Federal Reserve Bank of New Locations: U.S, Federal Reserve Bank of New York

Thomas received 103 gifts with a total value of more than $2.4 million between 2004 and 2023, the judicial reform group Fix the Court said in a report Thursday. Fix the Court's analysis found that Alito accepted 16 gifts worth a combined $170,095. Counting those gifts, Thomas' total two-decade haul is valued at nearly $4.2 million. The value and number of gifts Thomas received also eclipsed those accepted by eight retired or dead Supreme Court justices whose tenures overlapped his service on the court, which began in 1991. Antonin Scalia, a conservative justice who died in 2016 while on the court, accepted 67 gifts worth about $210,000 during his tenure, which began in 1986.

Persons: Clarence Thomas, Ruth Bader Ginsburg, Stephen Breyer, Samuel Alito, Neil Gorsuch's, Chip Somodevilla, Thomas, Alito, Harlan Crow, Sandra Day O'Connor, Antonin Scalia, William Rehnquist Organizations: Supreme, Getty, Congressional Locations: Washington ,, Grove

Rent costs across U.S. continue to fluctuate, but there are some major areas where prices are trending up year-over-year. California is the only state with two metro areas in the top five. The rise in rent for one-bedroom apartments in California's Stockton metro area was similar, going from $1,161 in 2023 to $1,175 in 2024 — a 1.2% increase. It is important to note that the Census Bureau defines the Albuquerque, New Mexico metro area to be part of the core-based statistical area of Albuquerque-Santa-Fe-Las Vegas, New Mexico combined statistical area, falling under the southwest and western regions of the United States. Despite the nationwide median rent trending down year-over-year, the following metro areas in the western U.S. have seen the highest increases in rent for 1-bedroom apartments, similar to several areas in the Northeast.

Organizations: U.S, CNBC, Census, Thousand, Venture, Stockton , California metros, Thousand Oaks Locations: California, Oxnard, Stockton , California, Ventura, Los Angeles, California's Stockton, Albuquerque, New Mexico, Santa, Las Vegas , New Mexico, United States, U.S

According to a May Zumper report, the national median rent for a one-bedroom apartment is $1,487. The New York-Newark-Jersey City metro area saw the average rent for a one-bedroom apartment go from $1,991 in 2023 to $2,008 in 2024, an increase of only $17 or 0.9%. Connecticut has the most metro areas with the biggest rent increase for one-bedroom apartments — four out of the top five. This includes one statistical area that covers part of northeastern Connecticut and a swath of Massachusetts including Worcester. Connecticut is also the only state in the Northeast region to have multiple metro areas in the top 20.

Organizations: CNBC, Census, New York City Locations: United States, New York, Los Angeles, Newark, Jersey City, Connecticut, Massachusetts, Worcester . Connecticut, New York City, Boston, Providence , Rhode Island

☆ The Dow just hit 40,000. Here's a look at how it got here
▼ + stars: | 2024-05-16 | by ( Fred Imbert | ) www.cnbc.com time to read: +1 min

The Dow first closed above 20,000 in early 2017, as investors began pricing in lower corporate taxes in the U.S. under former President Donald Trump. However, the Dow struggled in 2018 after the excitement around lower taxes faded, with trade tensions between China and the U.S. rising and the Federal Reserve raising interest rates. In 2019, the stock market recovered as the Fed pivoted away from raising rates. By early 2020, the Dow was nearing 30,000 — reaching a high of 29,551.42 on Feb. 12, 2020. The Dow tumbled 38% from its February 2020 intraday peak to a low of 18,213.65 in March 2020.

Persons: It's, Donald Trump, Dow, — CNBC's Gabriel Cortés Organizations: Dow, Federal Reserve, Fed Locations: U.S, China

☆ 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

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