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☆ Watch CNBC’s full interview with Charles Schwab's Kevin Gordon and CIC Wealth’s Malcolm Ethridge
▼ + stars: | 2023-10-03 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Charles Schwab's Kevin Gordon and CIC Wealth’s Malcolm EthridgeCharles Schwab's Kevin Gordon and CIC Wealth’s Malcolm Ethridge join 'Closing Bell' to discuss rate volatility, the bond market and Dow laggards.

Persons: Charles Schwab's Kevin Gordon, Malcolm Ethridge Charles Schwab's Kevin Gordon, Malcolm Ethridge, Dow laggards Organizations: Dow

☆ The Dow is about to give up all of its gains for 2023
▼ + stars: | 2023-10-03 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

The Dow Jones Industrial Average is down more than 400 points Tuesday. Bond yields spiked after fresh labor data, which pointed to a still-resilient job market. AdvertisementAdvertisementAfter a strong to the year, the Dow Jones Industrial Average is on pace Tuesday to give up all of its 2023 gains. While the Dow has lagged stronger gains posted by the S&P 500 and the Nasdaq this year, the index was still up about 8% at its 2023 peak in August. The stock market's losses so far in October extend a brutal two-month stretch for investors, with September posting the worst monthly loss of 2023.

Persons: —, Quincy Krosby, Liz Ann Sonders, Charles Schwab's, Sonders Organizations: Dow Jones, Service, Nasdaq, Dow, Treasury, Labor, Survey, Fed, LPL Locations: New York

☆ We need to look for hits to specific cohorts not just the consumer broadly: Charles Schwab's Sonders
▼ + stars: | 2023-10-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe need to look for hits to specific cohorts not just the consumer broadly: Charles Schwab's SondersHosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Charles Schwab's Sonders, Brian Sullivan, “ Organizations: CNBC

NEW YORK (AP) — Federal student loan borrowers will need to start making payments again this month after a three-year-plus pause due to the pandemic. It's likely that most borrowers have received their bill already but if you have not, visit your loan servicer account. Czulada also recommended that you look at which type of student loan you have, so you know which income-driven repayment plans you might qualify for. Borrowers can find out what their monthly student loan payment will be on their account with their loan servicer. Betsy Mayotte, president of The Institute of Student Loan Advisors, recommends that you research if you qualify for an income-driven repayment plan.

Persons: haven't, servicers, Amy Czulada, Czulada, Joe Biden, Betsy Mayotte, Biden, you’ve, they’re, you’re, you’ll, ”, Charles Schwab Organizations: — Federal, Student, Protection, The, Student Loan Advisors, Public, Federal, Aid, Department, Education, Department of Education, Associated Press, Charles, Charles Schwab Foundation, Inc, AP

NEW YORK (AP) — Millions of Americans must start repaying their federal student loans again in October, with monthly payments averaging hundreds of dollars a month. She'll put the $235 she was spending on her car payment toward her student loan, but that still leaves another $270 or so she'll have to reallocate or earn. “If they were forgiven out of the blue, I'd be ecstatic.”The Supreme Court in July rejected a plan by President Joe Biden's administration to wipe away $400 billion in student loan debt. According to credit bureau TransUnion, more than half of student loan holders added credit card debt during the pandemic. The program erases remaining debts for federal student loan holders who work in public service while making 10 years of payments.

Persons: Megan McClelland, She'll, “, ” Justin Cole, Cole, ”, I'd, Joe Biden's, McClelland, She's, It's, —, — McClelland, ” McClelland, Charles Schwab Organizations: Petaluma High School, Valuable, Target, Public, White, Sonoma, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: Petaluma, California, Rock , Arkansas, Boston, Sonoma State

☆ Danger, 'pothole' ahead: Economic growth slowing to a near-halt to end the year
▼ + stars: | 2023-09-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +6 min

Be it the United Auto Workers strike , the impending government shutdown or the resumption of deferred student loan payments , ominous barriers to growth have been lining up. "The economic headwinds are blowing, and they're blowing harder and harder," said Mark Zandi, chief economist at Moody's Analytics. JPMorgan Chase CEO Jamie Dimon recently cautioned clients that the Fed may have to take rates a good deal higher yet. Still, that's well rate above the central bank's 2% target, posing another potential headwind to growth. Despite the looming slowdown, consumers, who are pivotal to U.S. growth, have managed to hang in there.

Persons: Mark Zandi, Goldman Sachs, Goldman, Ronnie Walker, Alec Phillips, tumbles, Sam Stovall, JPMorgan Chase, Jamie Dimon, We're, Liz Ann Sonders, Charles Schwab, Jerome, Powell, They've Organizations: United Auto Workers, Moody's, UAW, Atlanta, JPMorgan, University of Michigan's, Commerce Department Locations: U.S

NEW YORK (AP) — Karin Engstrom thought she’d be paying off her federal student loans for the rest of her life. It also credits borrowers for periods before the pandemic when they were allowed to pause or reduce payments due to financial hardships. “Info: Your student loans have been forgiven,” the letter read. Borrowers who have made 20 or 25 years of qualifying payments (depending on the repayment plan) qualify, if they hold direct loans or Federal Family Education Loans with the Education Department, including borrowers with Parent PLUS loans. The official Federal Student Aid guide to the Income Driven Repayment adjustment is a good resource for updates.

Persons: — Karin Engstrom, she’d, Biden, It's, servicers, Engstrom didn't, Harris, ” Engstrom, ” Patricia Vener, Saavedra, “, ”, who's, “ He's, Vener, Charles Schwab Organizations: Department of Education, Federal, Aid, Harris Administration, Edfinancial Services, WHO, Family, Education Department, Parent, WHAT, IF, of Education, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: Hamden , Connecticut

☆ VIEW US core inflation slows in August, consumer spending rises
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +3 min

With gasoline price surging, inflation as measured by the personal consumption expenditures (PCE) price index rose 0.4% in August after climbing 0.2% in July. In the 12 months through August, the PCE price index advanced 3.5% after rising 3.4% in July. The annual PCE inflation is also being lifted by a lower base of comparison last year. MARKET REACTION:STOCKS: U.S. stock futures extended gains after August PCE data BONDS: U.S. Treasury 10-year note yield extended its fall to 4.5363% after the data. And the consumer is now beginning to feel higher interest rates - the higher cost of financing debt is beginning to impact their finances."

Persons: Mike Blake, RANDY FREDERICK, CHARLES SCHWAB, DANIEL PORTO, KIM FORREST, PETER CARDILLO Organizations: REUTERS, Treasury, Global Finance, Markets, Thomson Locations: Carlsbad , California, U.S, AUSTIN , TEXAS, PITTSBURGH

☆ These are Jefferies 'rock-solid' dividend stock picks
▼ + stars: | 2023-09-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Right now, few dividend stocks can compete with the attractive yields in the Treasury market. To determine its rock-solid dividend picks, Jefferies looked at companies in the MSCI USA Index with sustainable dividend and buyback yields. Apple is the largest company on the list, with a 3.5% total yield, which is its 12-month forward dividend yield and its last 12-month buyback yield. The tech giant, which just released its latest iPhone, has a current dividend yield of 0.6% and is known for its stock buybacks. The stock has a 12-month forward dividend yield and last 12-month buyback yield totaling 5.5%.

Persons: Jefferies, Peramunetilleke, Charles Schwab, Bancshares, Morgan Stanley, — CNBC's Michael Bloom Organizations: Treasury, Federal Reserve, Apple, Nike, LSEG Locations: U.S

☆ Best High-Yield Savings Accounts for October 2023
▼ + stars: | 2023-09-28 | by ( Martha C. White | ) www.wsj.com time to read: +18 min

With the Federal Reserve steadily raising interest rates to fight inflation, high-yield savings account payouts have steadily risen, too. After years of near-zero returns, the average savings account rate has risen to 0.45%, according to the Federal Deposit Insurance Corp. Their new High-Yield Savings account offers a 3.5% APY, but you need a hefty $5,000 deposit to open the account. Unlike some high-yield online savings accounts, you earn a high APY—currently 5%—on every dollar in your account. You can conduct immediate electronic transfers between your brokerage account and savings account, and manage both savings and investment activities on a single platform.

Persons: Martha C, it’s, JPMorgan Chase, Wells, Wells Fargo, Ally, Synchrony, UFB, —, Achilles, We’ve, Foster, Alliant, Morgan Stanley, Marcus, Goldman Sachs, Charles Schwab, Charles Schwab Bank Charles Schwab Organizations: Federal Reserve, Federal Deposit Insurance Corp, Capital, National, One’s, JPMorgan, JPMorgan Chase JPMorgan Chase &, Chase Savings, Ally, Synchrony, CIT, First Citizens, Bank, Axos Bank, Webster Bank, National Bank, Zelle, Alliance Data Systems, Comenity Capital Bank, FDIC, Foster Care, Navy, Navy Federal, Savings, Morgan Stanley Private, Morgan Stanley Private Bank, Bloomberg, Trade, Charles, Charles Schwab Bank, Best Bank, National Credit Union Administration, dateline Locations: Chase, Zelle, Ally’s, Utah, Chicago, U.S, .

☆ Here's what analysts see in store for stocks as the US government barrels towards a shutdown
▼ + stars: | 2023-09-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The US government is more likely than not to shutdown by the end of the month, Goldman Sachs warned. But stocks could rebound quickly from any ensuing volatility, stock market experts say. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . And in some cases, stocks actually ended the shutdown period higher, with the market gaining a net 10% following the 2018-19 shutdown, according to Renaissance Macro. "I think the government shutdown itself isn't a major issue from a stock market perspective," Truist co-chief investment officer Keith Lerner said to CNBC on Monday.

Persons: Goldman Sachs, —, it's, aren't, Charles Schwab, Alec Phillips, shutdowns, Dow Jones, Wells, Truist, Keith Lerner Organizations: Service, Goldman Sachs Research, CNBC

☆ Cash accounts are paying more than 5% in interest—but 'don't load up on it,' says money expert
▼ + stars: | 2023-09-22 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

With interest rates hovering near zero for much of the last decade, savers couldn't expect to earn much in interest when they stashed their money. Online banks are offering high-yield savings accounts paying interest in the neighborhood of 5%, according to Bankrate. High-yield savings accounts High-yield savings accounts and money market accounts are both insured, up to $250,000, by the Federal Deposit Insurance Corporation. Money market funds Money market funds are mutual funds that invest in short-term low-risk debt. There is a very small risk of losing money with these, and they generally pay attractive interest rates and can be quickly liquidated.

Persons: Cash, Amy Arnott, there's, they've, Arnott, Banks, Morgan, Charles Schwab Organizations: Federal Reserve, Morningstar Research Services, ., Federal Deposit Insurance Corporation, Vanguard

Their work progressed, and an Apple investing feature was meant to roll out in 2022. Source: AppleThe Apple Card launched with much fanfare three years ago, but the business brought regulatory heat and racked up losses as its user base expanded. Earlier this year, Goldman rolled out a high-interest savings account for Apple Card users, offering a 4.15% annual percentage yield. Before Goldman's pivot away from retail banking, the company examined ways to expand its partnership with Apple, sources said. WATCH: Goldman's Apple Card faces mounting credit losses

Persons: Goldman Sachs, Goldman, Tim Cook, Loren Elliott, That's, David Solomon, Charles Schwab, Morgan Stanley's, It's, Robinhood, Elon Musk's Organizations: Apple, Goldman, Reuters Apple, GameStop, AMC, Apple Card, American Express, . Stock, eToro, PayPal Locations: Cupertino , California, U.S, Block's

☆ Wall Street banks shed jobs to ease cost pressures
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

Morning commuters walk on Wall Street in New York's financial district October 30, 2014. Others, like Citigroup (C.N), are preparing to cut jobs as part of a structural revamp targeted to remove complexity. It also laid off nearly 1,000 employees from First Republic Bank, the collapsed lender it had acquired from the Federal Deposit Insurance Corp. The bank laid off about 3,200 people earlier this year in its biggest headcount reduction since the 2008 financial crisis. Lazard (LAZ.N) -The New York-based investment bank said it would cut around 10% of its workforce in 2023.

Persons: Brendan McDermid, Goldman Sachs, Morgan Stanley, JPMorgan Chase, Wells Fargo, Wells, Mike Santomassimo, Santomassimo, Charles Schwab, Lazard, Jaiveer Singh, Maju Samuel Organizations: REUTERS, Banking, Citigroup, JPMorgan, First Republic Bank, Federal Deposit Insurance Corp, Reuters, Financial Times, Bloomberg News, Wall Street, UBS Group, Credit, Thomson Locations: New, U.S, New York, York, Bengaluru

Arm executives and CEO Rene Haas gather outside Nasdaq Market site, as Softbank's Arm, chip design firm, holds an initial public offering (IPO), in New York, U.S., September 14, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 15 (Reuters) - Shares of SoftBank's Arm Holdings closed a volatile session lower on Friday, a day after a stellar Nasdaq debut that valued the British chip designer at $65 billion. The stock fell 4.5% to end at $60.75, after trading as high as $69 earlier in the session. The Nasdaq (.IXIC) was down 1.6% and the S&P 500 (.SPX) fell 1.2%, while an index of semiconductors (.SOX) sank 3%. Analysts said further trading volatility in Arm may be seen if the company draws more interest from AI-focused retail investors.

Persons: Rene Haas, Brendan McDermid, chipmakers, Arm's, Randy Frederick, Charles Schwab, Rick Meckler, Sophie Lund, Yates, Hargreaves Lansdown, Financials, Michael Ashley Schulman, Needham, Manya Saini, Caroline Valetkevitch, Saqib Iqbal Ahmed, Niket Nishant, Arun Koyyur, Grant McCool Organizations: Nasdaq, REUTERS, Arm Holdings, Major U.S, Cherry Lane Investments, Analysts, Graphics Arm, Running, Capital Advisors, Nvidia, Reuters Graphics, Thomson Locations: New York, U.S, British, Austin , Texas, New Vernon , New Jersey, Bengaluru

☆ Three-Stock Lunch: Adobe, Charles Schwab & Lennar
▼ + stars: | 2023-09-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Adobe, Charles Schwab & LennarBrian Vendig, MJP Wealth Advisors president, joins ‘Power Lunch’ to discuss three stocks: Adobe, Charles Schwab and Lennar.

Persons: Charles Schwab, Brian Vendig, Lennar Organizations: MJP

NEW YORK (AP) — When the unexpected happens — whether fire, hail, or human error — renters insurance can provide much-needed stability. The average cost of a renters insurance policy in 2023 was $148 per year, or about $12 per month, according to the most recent analysis by NerdWallet. Here's what to keep in mind:WHAT SHOULD I KNOW ABOUT ACQUIRING RENTERS INSURANCE? WHAT’S COVERED BY RENTERS INSURANCE? Most renters insurance policies include:— Personal property protection.

Persons: Linda Klamm, “, Klamm, ” Klamm, you’re, policyholders, ”, Charles Schwab Organizations: Joint Center for Housing Studies, Harvard University, Insurance, Institute, Financial Health Network, Financial Health, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: Oakland , California, California, Florida , Louisiana , Texas, Washington

☆ A 'rolling recession' in the US could morph into a full-blown slump - and the Fed's unlikely to slash interest rates in 2024, top strategist says
▼ + stars: | 2023-09-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The US economy is in a "rolling recession" and a full-blown downturn looms, Liz Ann Sonders says. Charles Schwab's chief investment strategist doesn't expect a bunch of interest—rate cuts in 2024. "The leading indicators have absolutely imploded," Liz Ann Sonders, the chief investment strategist at Charles Schwab, said during a recent episode of "The Meb Faber Show." "We've never seen this kind of deterioration in leading indicators" outside of an ongoing recession, she added. Sonders was referring to The Conference Board's Leading Economic Indicators (LEI), which fell for a 16th straight month in July.

Persons: Liz Ann Sonders, Charles Schwab's, doesn't, Charles Schwab, Faber, We've, Sonders, that's, it's Organizations: Service, shouldn't, Conference, Federal Reserve, Avatar Associates Locations: Wall, Silicon

☆ CNBC Pro at Future Proof: Why it's time to buy European stocks
▼ + stars: | 2023-09-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Pro at Future Proof: Why it's time to buy European stocksCNBC Senior Markets Correspondent Bob Pisani sits down for an interview with Charles Schwab Managing Director Jeffrey Kleintop from the Future Proof conference in Huntington Beach, California to talk about why European stocks could perform better than their American counterparts in the near term and finding the best investing approach in this market environment.

Persons: Bob Pisani, Charles Schwab, Jeffrey Kleintop Organizations: CNBC, American Locations: Huntington Beach , California

☆ International stocks offer a host of opportunities for investors, says Schwab’s Jeffrey Kleintop
▼ + stars: | 2023-09-11 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

While the U.S. equities market is having a strong year, international stocks are the more promising investment play, according to Jeffrey Kleintop, Charles Schwab's chief global investment strategist. "International stocks are outperforming U.S. for the second year in a row, and I think the thesis behind that is the U.S. is really [centered] on seven stocks. The "terrible" investor sentiment for international stocks has created a promising buy-in point for investors, said the strategist. The strategist added that in addition to the equity opportunities outside of the U.S., investors ought to consider bumping their bond allocation a bit higher. The answer is probably, no matter who you are, probably a little more than you have now," said Kleintop.

Persons: Jeffrey Kleintop, Charles Schwab's, Kleintop, CNBC's Bob Pisani Locations: U.S, Germany, Ukraine, Europe

☆ Hip-hop stars and financial luminaries: Ritholtz Wealth Management redesigns the investment conference
▼ + stars: | 2023-09-11 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Surf City USA —for a financial conference. A financial conference on a beach? Reinventing the financial conferenceWelcome to FutureProof, billed as "the largest gathering of top-tier wealth management professionals, CEOs, CTOs, COOs, and fast-growing financial advisors." It's the brainchild of Barry Ritholtz, co-founder, chairman, and chief investment officer of Ritholtz Wealth Management, and CEO Josh Brown. "Coming out of the pandemic, it was obvious to us that the traditional financial conference was past its sell-by date," Ritholtz told me.

Persons: Tang, Redman, They're, Jeremy Siegel, Jeff Kleintop, Charles Schwab, Emily Roland, John Hancock, Cliff Asness, Jeff Gundlach, maven Jan van Eck, Barry Ritholtz, Josh Brown, Ritholtz, FutureProof, You'll, Goldman, Goldman Sachs, Morgan Stanley, JP Morgan, RIAs, Dan Ives, Scott Wapner, Siegel, Morningstar, Christine Benz, Jeffrey Ptak, Ben Johnson, podcasters Michael Batnick, Ben Carlson, Wu, Tang Clan Organizations: Wharton, Ritholtz Wealth Management, Chiropractic, Health, Investment Advisors, CNBC, Financial Locations: Huntington Beach , CA, Huntington Beach , California, Surf, Huntington Beach, AQR, DoubleLine, FutureProof, COOs, Wells, Wedbush, Young

NEW YORK (AP) — Pets provide joy and companionship, but costs can add up quickly, especially if you're a first-time owner and don't know what to expect. Once you get them home, pets need a bed, food, leashes and harnesses and grooming supplies, among other things. Gelber ended up paying a small fraction of those amounts because she had pet insurance, which she got knowing that French bulldogs are prone to getting sick. But Simon, who has had dogs for 25 years, has never gotten pet insurance and has not needed it during that time. Regardless of how much they have spent on their dogs, Chavez, Gelbert and Simon agree they don't regret having them in their lives.

Persons: it's, ”, Wendy Hauser, Melissa Chavez, Milo, “ I’ve, ” Chavez, Kerry O'Hara, Lauren Gelber, Gelber, Sharon Simon, Simon, Hauser, “, Maine coons, " Hauser, Chavez, I’m, “ Don’t, Gelbert, Charles Schwab Organizations: American Pet Products Association, American Society for, French bulldogs, bulldogs, Facebook, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: APPA, Marin , California, Europe, Salinas , California, Maine

NEW YORK (AP) — Information theft is on the rise. Colleen Tressler, a senior project manager for the FTC, has tracked consumer issues including identity theft for more than three decades. “They’re imposters, so they’re going after your personal information and your financial information however they can," she said. The Federal Student Aid site provides more guidance about avoiding identity theft online. Medical ID theft and tax ID theft are also common, especially during tax season or Medicare re-enrollment periods.

Persons: Colleen Tressler, They’re, “, Tressler, Scammers, servicer, ” Tressler, —, you've, Charles Schwab Organizations: Federal Trade Commission, FTC, Federal Emergency Management Agency, Federal, Department of Education, Medicare, Social Security, “ Insurance, Bills, Associated Press, Charles, Charles Schwab Foundation, Inc, AP Locations: U.S, IdentityTheft.gov

☆ Watch these stocks ahead of a historically weak September on Wall Street
▼ + stars: | 2023-09-05 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Investors are gearing up for a historically weak month on Wall Street. But some stocks on Wall Street have found a way to stave off the broader weak sentiment in the past. At least 55% of analysts maintain a buy rating. Analysts are bullish on the premier airline stock, with 85.7% of analysts rating shares as a buy. Nearly 61% of analysts polled by FactSet hold a buy rating on Enphase stock, with their average forecasts implying nearly 57% upside from the stock's current trading levels.

Persons: FactSet, Brandt Montour, Charles Schwab, —, Fred Imbert Organizations: CNBC, Delta Air Lines, Energy, Caesars Entertainment, Caesars, Barclays Locations: DAL, Albemarle

☆ Americans say these 3 things define wealth—none of them require making a lot of money
▼ + stars: | 2023-09-04 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

The things Americans say would make them feel wealthy, however, don't necessarily come with a price tag. Wealth means enjoying experiences more than owning nice things according to 70% of Americans, Schwab found. But 70% of Americans say having enough to ease any money stress in their life is more meaningful than having more money than their peers. Once again, earning a higher salary or otherwise having access to more capital may help get rid of your money stress. "Yes, money will give you access to stability, security and resources, but with that money, you need to actually utilize the resources," Evans says.

Persons: Charles Schwab's, Schwab, it's, Aja Evans, Evans Organizations: Wealth Survey, CNBC Locations: Laurel

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