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☆ Geopolitical strife is roiling Wall Street. Here’s what investors are watching
▼ + stars: | 2024-04-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Those what-ifs could further roil gas and oil prices. But if there’s further conflict, he said, “you’d see a much higher premium for oil prices. If there’s a de-escalation of tensions between Israel and Iran, they said, oil prices should come down over the next few weeks. But if there’s an escalation in conflict, they expect that oil prices could jump to more than $100 per barrel, they wrote in a note Monday. Retail sales rose 0.7% in March from the prior month, a slower pace than February’s upwardly revised 0.9% gain, the Commerce Department reported Monday.

Persons: New York CNN —, JPMorgan Chase, Jamie Dimon, ” Dimon, Jerome Powell, We’ll, Christine Lagarde, Andrew Bailey, Dave Sekera, Israel doesn’t, ”, “, Moody’s, there’s, Chris Isidore, Pete Muntean, Sam Salehpour, Read, Bryan Mena, Claire Tassin Organizations: CNN Business, Bell, New York CNN, Dow, JPMorgan, International Monetary Fund, IMF, Bank, Bank of Canada, Seven, European Central Bank, Bank of England, Morningstar, Nvidia, AMD, Wall Street Journal, Federal Reserve Bank of New, Boeing, Federal Aviation Administration, Alaska Airlines, Commerce Department, Morning, Amazon Locations: New York, Russia, Ukraine, China, United States, Washington ,, Iran, Israel, Federal Reserve Bank of New York

☆ Behind this week's selloff and what could cause it to turn into a full-blown correction
▼ + stars: | 2024-04-05 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Despite Thursday's declines, the S & P 500 is only 2% from last week's record highs. The surprise isn't that the S & P 500 dropped Thursday. .SPX 6M mountain S & P 500, 6 months First-quarter earnings estimates for the S & P 500 have slipped to an expected gain of 5.1%, down from an anticipated increase of 7.2% on Jan. 1, according to LSEG. Since earnings are what ultimately moves stocks, the question is not "What would cause a modest 2% to 5% decline?" To do that, market participants would need to believe that earnings estimates were off significantly.

Persons: Daniel Kahneman, Joe Biden, Benjamin Netanyahu, Israel, Neel Kashkari, it's, John Butters, Charles Schwab Organizations: Economic Sciences, Israel's, Federal Reserve Bank of, FactSet Locations: Gaza, Iran, Federal Reserve Bank of Minneapolis

In particular, the researchers looked at a group dubbed "disconnected youth," who aren't working and are also not in school. As of 2022, disconnected youth comprised 13% of this age group; that share has been rising overall since 1998, according to calculations from the Federal Reserve Bank of Dallas. AdvertisementYounger Americans are facing stagnant incomesThe Dallas Fed found that, even after a post-pandemic dip, the rate of disconnected youth has increased since the end of the 1990s. AdvertisementAnd the number of young adults with no income has been on the rise; in 1990, around one in five young adults said they had no wage or salary income. Are you or were you a "disconnected youth," or supporting one?

Persons: —, Louis, Gen, Zers, Louis Fed's, Louis Fed, William M, Rodgers III, Rodgers Organizations: Service, Louis Federal Reserve's Institute for Economic Equity, Business, Federal Reserve Bank of Dallas, Dallas Fed, Federal Reserve's Survey, Consumer, Louis Fed, National Health, Blacks, Louis, Louis Fed's Institute for Economic Equity

Average 30-year mortgage rates ticked up above 6.50% for the first time in more than a week, according to Zillow data. Once the Fed starts cutting rates, mortgage rates should ease. 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 interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched up to 6.11% last week, according to Freddie Mac data.

Persons: Federal Reserve Bank of Cleveland Loretta Mester, Mester, you'll, Freddie Mac, it's Organizations: Federal Reserve Bank of Cleveland, Investors, Zillow, Federal Reserve Locations: Chevron

☆ Tuition now costs a whopping $90,000 a year or more at some US universities
▼ + stars: | 2024-04-01 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

Some American universities estimate their total cost of attendance will exceed $90,000 next year. Tuition and fees at universities have continued to climb, even when adjusted for inflation. The result may be a generation of students wondering if college is worth it. AdvertisementThe price of getting a degree has continued to climb at American universities, with the cost of some schools reaching a new threshold. Out-of-state and in-state tuition and fees at public universities have risen by about 38% and 56%, adjusted for inflation, over the same period.

Persons: —, Gen, Ana Hernández Kent, Louis Organizations: Service, New York University, Tufts, University of Pennsylvania, Yale, NYU, Board, U.S . News, for Higher, of Education, Universities, Institute for Higher Education, Institute for Economic Equity, Federal Reserve Bank of St Locations: U.S

☆ A degree now costs more than $90,000 a year at some US universities, showing how wildly expensive education is getting
▼ + stars: | 2024-03-30 | by ( Madeline Berg | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewThe price of getting a degree has continued to climb at American universities, with the cost of some schools reaching a new threshold. This story is available exclusively to Business Insider subscribers. Out-of-state and in-state tuition and fees at public universities have risen about 38% and 56%, respectively, inflation-adjusted over the same period. In a Business Insider and YouGov survey conducted last year, 46% of Gen Z respondents said they don't think college is worth the cost.

Persons: —, Gen, Ana Hernández Kent, Louis Organizations: Service, New York University, Tufts, University of Pennsylvania, Yale, Business, NYU, Board, U.S News, of Higher, of Education, Universities, Institute of Higher, Institute for Economic Equity, Federal Reserve Bank of St

NEW YORK (AP) — It may not be too “appeeling,” but the price tags of some bananas are rising by a few cents. Trader Joe's recently upped the price for a single banana to 23 cents, a 4-cent — or 21% — increase from the grocer's previous going rate for the fruit that had remained unchanged for over 20 years. In contrast to other foods more heavily impacted by inflation, bananas have stayed relatively affordable over time — with average global prices never exceeding more than about 80 cents per pound (0.45 kilograms). Still, banana prices have seen some jumps in recent years. In the U.S., the cost of a pound of bananas averaged at about 63 cents last month.

Persons: Joe's, “, we’ve, Louis, ” Neil Saunders, Saunders Organizations: Federal Reserve Bank of St, United Nations, Food, Agriculture Organization Locations: Monrovia , California, U.S, —

☆ How shipping containers can make or break the global economy
▼ + stars: | 2024-03-26 | by ( Andrea Miller | In Dreajmiller | ) www.cnbc.com time to read: +4 min

The shipping container is a logistics marvel that can affordably move thousands of items from hundreds of different companies all around the globe. Supply chain disruptionsDisruptions to global trade can have major impacts on shortages and inflation, causing serious ramifications for American households and businesses. Indeed, inflation cooled alongside the bounce back of the supply chain, according to a White House analysis of the U.S. economy. [It's] an inefficiency born not of container shipping but just of the nature of the global economy." Watch the video above to learn more about how shipping containers enable global trade, why China dominates the shipping industry and what happens after a container shortage.

Persons: Simon Heaney, John Fossey, Good Hope, John McCown, nonresident, McCown, Goetz Alebrand, " Heaney, Heaney Organizations: Drewry, CNBC, Supply, Federal Reserve Bank of San, Center for Maritime Strategy, Federal Maritime Commission, Americas, DHL Global Locations: Federal Reserve Bank of San Francisco, U.S, Iran, Good, Africa, China, Ukraine, Asia

☆ Employee Productivity Is Booming As Workers Get Better at Their Jobs
▼ + stars: | 2024-03-21 | by ( Neil Dutta | ) www.businessinsider.com time to read: +11 min

At the simplest level, labor productivity is how much output (widgets, meals, spreadsheet computation) one person can complete in an hour. Employers were running around with fishnets trying to find people, and workers used their leverage. By contrast, the late 1990s were a period of higher productivity growth and underestimated growth, starting the year at 2% but ending closer to 4%. But it's probably too soon to be thinking about these factors as the main driver of recent productivity growth. The investment implications of this are clear: Stronger productivity growth implies a higher speed limit for the economy.

Persons: —, it's, we'll Organizations: Federal Reserve Bank of San, Labor, P Global, Manufacturing, Capital, Employers, downturns, Professional Locations: Silicon Valley, Federal Reserve Bank of San Francisco

☆ The gig economy, overemployment, and job switching have made it easier than ever to boost your income. But those strategies aren't always worth it.
▼ + stars: | 2024-03-18 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

Some side hustles come with a significant time investment and unpredictable pay. Related storiesNot all side hustles come with the time investment that ride-hailing does. But everyone with a side gig is faced with the same question: Are the extra working hours worth the financial reward? Only eight months after he started, he resigned from his two extra roles and decided to stop job-juggling for the time being. But all prospective job-switchers are faced with the same question: Are the uncertainties that come with a new job worth the financial reward?

Persons: —, switchers, Lyft, There's, overemployment Organizations: Service, Business, Harris Poll, Uber, Twin Cities, Bureau of Labor Statistics —, Federal Reserve Bank of Atlanta, Harris, Atlanta Fed Locations: Atlanta, Minnesota, Texas

☆ A Texas millennial wasn't satisfied with his dating life. He said things changed when he started earning $100,000 a year.
▼ + stars: | 2024-03-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

A Texas millennial says his dating life improved when he started making more money as a pharmacist. AdvertisementWhen Benjamin Gibson was in his early 20s, he didn't have much success in the dating scene. Gibson isn't the only American who thinks a strong career and financial profile could help their dating success. "I do feel better because it took me time to have confidence, even after I started working as a pharmacist." Has career success helped your social or dating life?

Persons: —, Benjamin Gibson, Gibson, he'd, Pinghui Wu, he's, doesn't Organizations: Service, Business, Bureau of Labor Statistics, Federal Reserve Bank of Boston, Boston Fed Locations: Texas, Virginia

☆ Realtor Lawsuit Settlement Will Change the Housing Market Forever
▼ + stars: | 2024-03-17 | by ( James Rodriguez | ) www.businessinsider.com time to read: +7 min

AdvertisementThese changes, spread out over millions of transactions a year, have the chance to reshape the housing market. Real-estate agent commissions have hovered between 5% and 6% of the sale price for decades. If sellers are in a desirable market, they might start offering less commission to buyers' agents, or none at all. This would force buyers' agents to get more creative. It has made it clear that it doesn't want sellers offering compensation to buyers' agents.

Persons: there's, Rich Pedroncelli, doesn't, they're, Bret Weinstein, they'll, I'm Organizations: National Association of Realtors, Federal Reserve Bank of Richmond, Department of Justice, NAR, DOJ, AP, MLS, Department, Justice Locations: Denver

☆ College is still worth it, research finds — although these majors have the lowest rate of return
▼ + stars: | 2024-03-14 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

A recent study published in the American Educational Research Journal found that engineering and computer science majors provide the highest returns in lifetime earnings, followed by business, health and math and science majors. Education and humanities and arts majors had the lowest returns of the 10 fields of study considered. "However, there are significant differences across college majors." Overall, the researchers found that the benefits of higher education have held up, even as enrollment has declined and the labor market outcomes for those without a college degree have improved, Zhang said. For workers with a bachelor's degree, education was the lowest-earning field of study, followed by psychology and social work and the arts.

Persons: Liang Zhang, Zhang Organizations: Georgetown University Center, Education, Workforce, Federal Reserve Bank of New, American Educational Research, NYU Steinhardt School of Culture , Education, Human Development, Finance, Ivy League, Georgetown Center, Center Locations: Federal Reserve Bank of New York

Rising gasoline and housing prices led inflation to increase 0.4% in February, the Bureau of Labor Statistics reported on Tuesday. The food index was unchanged in February, as was the food at home index. Meanwhile, a recent report on consumer spending from Mastercard found that retail sales excluding autos were up in February, with online retail sales up more than 9.1%. The Census Bureau is scheduled to release retail sales for February on Thursday with analysts looking for a strong 0.8% increase after January's drop. “A dip in retail sales to start the calendar year is common, however, this year January retail sales marked the biggest decline since March of last year,” said Chip West, retail and consumer behavior expert at Vericast.

Persons: ” Joseph Brusuelas, ”, Chip Organizations: of Labor Statistics, Federal, “ Services, RSM, Mastercard, Apparel, Bureau, Federal Reserve Bank of, Blue Locations: Federal Reserve Bank of Atlanta

☆ Why are prices still so high? Corporate greed, some say.
▼ + stars: | 2024-03-11 | by ( Tami Luhby | ) edition.cnn.com time to read: +7 min

While supply chain problems and high demand may have helped spur inflation early in the pandemic, Rosolino believes there’s another key reason why prices have soared and remained high: Corporate greed. It’s corporate greed.”Nick Rosolino feels businesses won't lower their prices as long as consumers keep spending. “Too many corporations raise prices to pad their profits, charging more and more for less and less,” Biden said. Companies are typically slower to reduce their prices when costs decline than they are to raise prices when their expenses jump. Corporate profits have contributed to inflation, though experts differ on the extent.

Persons: Nick Rosolino, Rosolino, there’s, ”, “ It’s, Nick Rosolino Reluctantly, Joe Biden, “, ” Biden, Cookie Monster, Lael Brainard, Goldman Sachs, Neil Bradley, Heather Vargas, ” Vargas, ” Heather Vargas, Heather Vargas Vargas, –, Kellogg, Gary Pilnick’s, Companies haven’t, Aaron Hackman, McKinley Conner, Aaron Hackman “, Hackman Organizations: CNN, America, White, Economic Council, Federal Reserve, Companies, Federal Reserve Bank of Kansas City, US Chamber of Commerce, of Labor Statistics, “ Locations: Maine, New Gloucester , Maine, Portland, Heights , California, Fort Lauderdale , Florida

☆ For those without college degrees, more paths are opening to better-paying jobs
▼ + stars: | 2024-03-08 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +7 min

New York CNN —For decades, not having a college degree has often been a barrier for workers seeking a higher-level, better-paying job. That means the lack of college degrees can’t be ignored, since Blacks and Hispanics are least likely to have a bachelor’s degree. “[D]espite the limited progress to date, our analysis shows that, for those who embrace it, skills-based hiring … yields tangible, measurable value. Skills-based hiring boosts retention among non-degreed workers hired into roles that formerly asked for degrees,” they said. The tool is aimed at lower-wage workers without college degrees.

Persons: Joe Biden, Ken Frazier, ”, George Floyd’s, Frazier, Debbie Dyson, Keith Wardrip Organizations: New, New York CNN, Census Bureau, ”, Merck, Blacks, MIT, Accenture, Yum ! Brands, Harvard Business School, Glass Institute, Directionally, Federal, Occupational Mobility, Philadelphia Fed, Federal Reserve Bank of Philadelphia Locations: New York, America, workforces, Philadelphia, Cleveland, Cincinnati

Federal Reserve Chairman Jerome Powell stuck to his script that it is not yet time to begin cutting interest rates on Wednesday in the first of two appearances this week on Capitol Hill. The Fed has taken interest levels to their highest in decades in a battle to bring inflation down to the central bank’s 2% annual target. “The labor market remains relatively tight, but supply and demand conditions have continued to come into better balance,” Powell said. Job vacancies have declined, and nominal wage growth has been easing.”Powell and other Fed officials have repeatedly said they will judge whether to begin lowering interest rates on the state of incoming economic data. In his testimony, Powell did acknowledge that interest rates are “likely” at their peak for this economic cycle.

Persons: Jerome Powell, ” Powell, Powell, ”, Lydia Boussour, EY Organizations: Capitol, Financial Services, Labor Department, ADP, Federal Reserve Bank, Atlanta’s

☆ Self-made millionaire Vivian Tu went from 'scrimping and saving' to creating wealth with this mindset shift
▼ + stars: | 2024-03-06 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

"I was still living below my means and then investing that larger proportional difference," she said. Those raises helped Tu invest and grow her wealth more quickly. Why both saving and investing are criticalTu's mindset shift is one other women can learn from. Lifelong saving and investing are both critical for women, according to Boston-based certified financial planner Catherine Valega, founder of Green Bee Advisory. Leaving the workforce reduces earnings and the chance to save and invest for retirement, Valega said.

Persons: Vivian Tu, Heidi Gutman, Tu, Catherine Valega, Valega Organizations: Green Bee, Federal Reserve Bank of Minneapolis Locations: Boston

☆ As late, missed payments rise, credit card borrowers face 'consequences' for falling behind, CFPB says
▼ + stars: | 2024-03-06 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

watch nowThe consequences of missed credit card paymentsThe CFPB found that late fees are often layered on top of other punitive measures credit card companies impose on consumers who miss payments, including negative credit reporting, which can hurt their credit rating. "When consumers don't make required payments, they can face a long list of consequences. More consumers are falling behindCollectively, consumers are having a harder time managing debt amid high interest rates and higher prices. Not only are more cardholders carrying debt from month to month but more are also falling behind on payments, recent reports also show. Credit card delinquency rates surged in 2023, the Federal Reserve Bank of New York found.

Persons: Rohit Chopra, — Organizations: Consumer Financial Protection Bureau, Federal Reserve Bank of New, New York Fed Locations: Federal Reserve Bank of New York

☆ Kentucky lottery winner: Louisville man uses prize money to get out of debt
▼ + stars: | 2024-03-05 | by ( Kara Nelson | ) edition.cnn.com time to read: +2 min

Stallard scratched off the $5 ticket in his truck, revealing a “50x” symbol – meaning the listed winning prize on his ticket would get multiplied by 50. “I figured it was going to be $5,” he said, according to a news release from the Kentucky Lottery. “I couldn’t believe it!”He had won the lottery game’s grand prize. Stallard won $150,000 that Friday afternoon, and held onto the winning ticket for the next three days. There are still two $150,000 winning tickets remaining for 50x The Cash lottery game, according to the Kentucky Lottery.

Persons: Charles Stallard, Stallard, “, ”, ” Stallard, I’m Organizations: CNN, Kentucky Lottery, Federal Reserve Bank of New, Federal Reserve, US Locations: Kentucky, Louisville, Federal Reserve Bank of New York, York

Among high-income earners, Gen Z is most confident in their ability to get richer. Gen Z women are particularly confident in their ability to create wealth. The rest of Gen Z may not share this confidence. AdvertisementIt seems the rich are confident that they will be able to build wealth, and the affluent side of Gen Z is no exception. A gender breakdown reveals that 81% of high-net-worth Gen Z women, versus 69% of high-net-worth Gen Z men, expect to see their money grow — a deviation from the overall trend, which saw men more likely to indicate that their money would increase.

Persons: Gen, Knight Frank, Knight Frank's, millennials, Rich millennials Organizations: Liberty Street, Federal Reserve Bank of New, Business Locations: Federal Reserve Bank of New York

☆ Immigration is 'taking pressure off' the job market and U.S. economy, expert says
▼ + stars: | 2024-03-02 | by ( Greg Iacurci | ) www.cnbc.com time to read: +10 min

Mark Zandi, chief economist at Moody's Analytics, said the increase in foreign-born workers is "taking pressure off the economy." The growth in foreign-born workers comes amid a contentious immigration policy debate in the U.S. Immigrants' share of the labor force has increased since 1996, when the Bureau of Labor Statistics began collecting such data. A growing population and labor force are key components of a healthy economy and the nation's ability to pay its bills, economists said. In other words, the economy is both absorbing immigrants and generating job opportunities for U.S.-born workers, the institute said.

Persons: Mark Zandi, it's, Alejandro Mayorkas, John Moore, Muzaffar Chishti, Jack Malde, Qian Weizhong, Steven Camarota, Camarota, Paul Ratje, Eric Thayer, Malde, EPI, Zandi, There's, Luis Alvarez Organizations: U.S . Bureau of Labor Statistics, Moody's, Republicans, U.S, Department of Homeland, U.S . Border Patrol, U.S . Department of Homeland, Getty, Migration Policy Institute, CNBC, Foreign, U.S . Immigrants, Bureau of Labor Statistics, Pew Research Center, Social Security, Congressional, Office, Center, Immigration, . Border Patrol, Getty Images, Federal Reserve Bank of San, Center for Immigration Studies, Afp, Bloomberg, Economic Policy Institute, National Academies of Sciences, Engineering, Medicine, Digitalvision Locations: U.S, Mexico, Eagle Pass , Texas, San Diego , California, Federal Reserve Bank of San Francisco, Paso, Ciudad Juarez , Mexico, Los Angeles

☆ Wall Street's favorite recession gauge has been flashing for 16 months, but the other key ingredient of a downturn is nowhere to be seen
▼ + stars: | 2024-02-28 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +3 min

A key recession signal has been flashing for 16 months, but the other half of a downturn is missing. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The firm pointed out that the spread between the 10-year and three-month treasury yields has been inverted for 16 months. Advertisement10-year minus 3-month Treasury yields from 1982 Federal Reserve Bank of St. LouisThat said, the inverted curve only accounts for 50% of a solid recession call. Meanwhile, Morgan Stanley's chief economist, Ellen Zentner, warned that a "hard landing" downturn is guaranteed as the impact of Fed rate hikes still hasn't been felt fully throughout the economy.

Persons: —, Louis That, Jamie Dimon, Morgan Stanley's, Ellen Zentner Organizations: Service, DataTrek Research, Treasury, Reserve Bank of St, Fed, JPMorgan Locations: downturns, Kuwait

Go beyond financial literacy"Gone are the days that we can hide behind the illusion that more financial literacy is enough," says Rahkim Sabree, AFC, financial therapist and counselor. Currently, 25 states require financial literacy education for students; however, rarely, if ever, does financial literacy address larger systemic issues that exist. Black students owe an average of 188% more than what white students borrowed by the fourth year after graduation. One 2016 study found that if current trends continue, closing the wealth gap would take more than 200 years. AdvertisementYounger Black Americans have now become the fastest-growing demographic of new investors in the stock market.

Persons: —, Martin Luther King, Jr, Moritz Kuhn, Moritz Schularick, Ulrike I, Rahkim Sabree, We've, Kristin Afelumo, Lazetta Rainey Braxton, Braxton Organizations: Service, Business, Federal Reserve Bank of Minneapolis, Black, National Bureau of Economic Research, Economic Policy Institute, AFC, Bureau of Labor Statistics, Netflix, Lazetta, Associates Locations: America, Evanston , Illinois, Black

☆ Uber joins the Dow Transports. Here's why it's a curious addition
▼ + stars: | 2024-02-26 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

Uber is going into the Dow Transports on Monday, marking the first change to the index since Dec. 7, 2021, when Old Dominion replaced Kansas City Southern. Under Dow Theory, the Transports should confirm a new high in the Dow Industrials. Uber is a funny add because unlike many of the other index components, it's not really a shipping company. The add likely reflects the Dow Transports index committee's belief that this is a transportation company, even if it just shuttles people instead of packages. This follows a well-known pattern called the S & P inclusion effect.

Persons: Avis, Uber, Stocks, underperform Organizations: Dow Transports, Old Dominion, Kansas City Southern, Dow, Dow Jones Transport, Dow Theory, Transports, it's, Uber, Federal Reserve Bank of New, Union Pacific, CSX, Kirby Locations: Federal Reserve Bank of New York, Matson, Old Dominion

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