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☆ Supreme Court Hears Arguments Pitting Gay Rights Against Free Speech
▼ + stars: | 2022-12-05 | by ( Jess Bravin | ) www.wsj.com time to read: 1 min

Lorie Smith, an evangelical Christian and web designer, considers compliance with Colorado’s antidiscrimination law akin to the state compelling her to declare support for same-sex marriage. WASHINGTON—Two strands of recent Supreme Court jurisprudence clash on Monday, as the justices weigh whether a website designer’s free-speech rights entitle her to turn away customers seeking online services for same-sex weddings, despite state law protecting LGBT individuals from discrimination. The Supreme Court in 2015 held that same-sex couples enjoy the same marriage rights as those of opposite sexes, culminating a line of decisions beginning in the 1990s that extended legal equality to LGBT Americans. Over much of the same period, the court has been expanding religious rights, in decisions that have given priority to religious exercise over secular government interests.

☆ Alito jokes about Black Santa and Ashley Madison during Supreme Court arguments
▼ + stars: | 2022-12-05 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Summer-Concepcion-Byline-Jm.Jpg | Summer Concepcion | ) www.nbcnews.com time to read: +2 min

Justice Samuel Alito joked about Black Santa, children in Klan robes and dating websites as the Supreme Court heard arguments Monday in a case weighing a web designer's bid to avoid working on same-sex weddings because she is a conservative evangelical Christian. David Zalubowski / AP fileEric Olson, the Colorado solicitor general, said that the Black Santa wouldn’t have to follow through with the request since KKK outfits are not protected characteristics under accommodation laws. Alito quipped, “You do see a lot of Black children in Ku Klux Klan outfits, right? Kagan, who is Jewish, jumped in to confirm that Alito was correct, which drew laughter from those in attendance. Conservative justices on the high court appeared sympathetic toward the web designer’s bid as they heard arguments for more than two hours Monday.

☆ Supreme Court to Hear Arguments Pitting Gay Rights Against Free Speech
▼ + stars: | 2022-12-05 | by ( Jess Bravin | ) www.wsj.com time to read: 1 min

Lorie Smith, an evangelical Christian and web designer, considers compliance with Colorado’s antidiscrimination law akin to the state compelling her to declare support for same-sex marriage. WASHINGTON—Two strands of recent Supreme Court jurisprudence will clash on Monday, as the justices weigh whether a website designer’s free-speech rights entitle her to turn away customers seeking online services for same-sex weddings, despite state law protecting LGBT individuals from discrimination. The Supreme Court in 2015 held that same-sex couples enjoy the same marriage rights as those of opposite sexes, culminating a line of decisions beginning in the 1990s that extended legal equality to LGBT Americans. Over much of the same period, the court has been expanding religious rights, in decisions that have given priority to religious exercise over secular government interests.

WASHINGTON — The Supreme Court on Monday hears the latest clash between religious conservatives and LGBTQ rights as it weighs a conservative evangelical Christian web designer's bid to avoid working on same-sex weddings. Lower courts ruled against Smith, prompting her to appeal to the Supreme Court. The remaining 21 states do not have laws explicitly protecting LGBTQ rights in public accommodations, although some local municipalities do. The court ruled on the baker case before the retirement of Justice Anthony Kennedy, who voted in favor of LGBTQ rights in key cases. In another major victory for LGBTQ rights, the Supreme Court in 2020 — to the surprise of many court-watchers — ruled that a federal law that prohibits sex discrimination in employment protects LGBTQ employees.

[1/2] Web designer Lorie Smith, plaintiff in a Supreme Court case who objects to same-sex marriage, poses for a portrait at her office in Littleton, Colorado, U.S., November 28, 2022. The court in that case stopped short of carving out a free speech exemption to anti-discrimination laws. Like Phillips, Smith is represented by attorneys from the Alliance Defending Freedom, a conservative religious rights group. The Supreme Court did not take up one aspect of her challenge to Colorado law based on religious rights also protected by the First Amendment, focusing on free speech instead. The Supreme Court, with its 6-3 conservative majority, has become increasingly supportive of religious rights and related free speech claims in recent years even as it has backed LGBT rights in other cases.

☆ Worried about Social Security benefit cuts? How calculators may help gauge how changes may affect you
▼ + stars: | 2022-12-05 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Hobo_018 | E+ | Getty ImagesHow to measure the effects of a benefit cutCovisum, a provider of Social Security claiming software, recently updated its calculator to reflect the Social Security trustees' latest projections. Offerings include a free version for consumers and a more complex paid version for financial advisors. Another product, Maximize My Social Security, lets consumers evaluate for a $40 annual fee which claiming strategy might best suit them. Because there are thousands of Social Security claiming rules, a more in-depth analysis can help identify the best way to get the most from the program for your unique situation. Why it's important to stress test your planIt's also important to remember the current depletion date projections are subject to change, as the Social Security trustees amend their projections each year.

☆ Supreme Court's conservative majority appears sympathetic to Christian graphic designer who refuses to create websites for same-sex weddings
▼ + stars: | 2022-12-05 | by ( Oma Seddiq | ) www.businessinsider.com time to read: +6 min

The Supreme Court heard a free-speech challenge from a Christian graphic designer based in Colorado. Lorie Smith, the owner of 303 Creative, refuses to create websites for same-sex weddings. At the heart of the case is a Colorado law that forbids businesses from discriminating based on sexual orientation. "As a Christian, I can't separate my faith from who I am," Smith told Insider in a recent interview. The Supreme Court is expected to hand down its decision in the case, 303 Creative LLC v. Elenis, by June.

☆ Supreme Court hears case of Colorado wedding website refusing gay marriage work
▼ + stars: | 2022-12-05 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

The Supreme Court heard arguments Monday in a case involving a Colorado web design company whose desire to avoid doing work for same-sex weddings runs afoul of the state's public accommodation anti-discrimination law. Conservative justices appeared sympathetic to First Amendment arguments made by a lawyer for the design company's owner. The court will likely decide the case by next spring or early summer. Justice Sonia Sotomayor asked Kristen Waggoner, the lawyer for company owner Lorie Smith, an evangelical Christian opposed to gay marriage. asked Sotomayor, a liberal, as she sat feet away from conservative Justice Clarence Thomas, a Black man who is married to a white woman.

Lower courts ruled against Smith, prompting her to appeal to the Supreme Court. The remaining 21 states do not have laws explicitly protecting LGBTQ rights in public accommodations, although some local municipalities do. Alliance Defending Freedom, which also represented Phillips, has had success arguing religious rights cases at the Supreme Court in recent years. The court ruled on the baker case before the retirement of Justice Anthony Kennedy, who voted in favor of LGBTQ rights in key cases. In another major victory for LGBTQ rights, the Supreme Court in 2020, to the surprise of many court-watchers, ruled that a federal law that prohibits sex discrimination in employment protects LGBTQ employees.

☆ Web designer opposed to gay marriage at center of U.S. Supreme Court clash
▼ + stars: | 2022-12-02 | by ( Andrew Chung | ) www.reuters.com time to read: +7 min

[1/4] Web designer Lorie Smith, plaintiff in a Supreme Court case who objects to same-sex marriage, poses for a portrait at her office in Littleton, Colorado, U.S., November 28, 2022. She argues that Colorado anti-discrimination law violates free speech rights by forcing artists - including web designers - to express messages through their work that they oppose. The Supreme Court did not take up one aspect of her challenge to Colorado law based on religious rights also protected by the First Amendment. His legal battle with Colorado also reached the Supreme Court, which ruled narrowly in his favor in 2018. The state warned against endorsing Smith's view of free speech protections.

☆ 'This is a crisis.' Why more workers need access to retirement savings
▼ + stars: | 2022-12-02 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

As many as 57 million Americans lack access to a workplace retirement savings plan, said Ed Murphy, president and CEO of Empower, a provider of retirement services. "If they don't access through payroll deduction, they just flat out don't save." The lack of retirement plan coverage presents an opportunity for the financial industry and government to work together to find solutions, Walsh said. California is one of a handful of states that has implemented automatic individual retirement accounts to help bridge that gap for workers who lack access to retirement plans through their employers. Those that opt out are required to begin offering their own retirement plan, per California rules.

☆ Marketmind: Stop making sense
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +2 min

[1/4] The Federal Reserve building is seen in Washington, U.S., January 26, 2022. "It makes sense to moderate the pace of our rate increases as we approach the level of restraint that will be sufficient to bring inflation down," Powell said. Perhaps not, but markets are moving ahead with an assumption we're nearly there. European futures indicate stocks in the region will spike higher, tracking Asian equities, which were tracking Wall Street. "To promote wage growth, the BOJ needs to patiently maintain its current monetary easing."

☆ Economist Austan Goolsbee named next Chicago Fed president
▼ + stars: | 2022-12-01 | by ( ) www.cnbc.com time to read: +3 min

Economist Austan Goolsbee will take over as president of the Chicago Federal Reserve early next year as the central bank weighs critical policy moves ahead, according to an announcement Thursday. "Austan is an exceptional choice to be the next president of the Federal Reserve Bank of Chicago. Goolsbee comes to the Chicago Fed at a sensitive time for the central bank. A Chicago Fed release announcing the appointment said the new district president is "a leading empirical economist" whose research spans a wide variety of topics. Goolsbee called the Chicago Fed "one of the crown jewels" of the central bank system.

☆ Morning Bid: Powell clears the decks
▼ + stars: | 2022-12-01 | by ( ) www.reuters.com time to read: +4 min

LONDON, Dec 1 (Reuters) - A look at the day ahead in U.S. and global markets from Mike Dolan. Intended or not, investors clearly read Wednesday's keynote speech by the Federal Reserve chair as a green light for a yearend relief rally in beaten down assets. On the face of it, Fed chief Jerome Powell merely confirmed what most had already assumed - that the Fed would downshift the size of its interest rate rises to half a point next month. The upshot is that markets have dragged their implied peak Fed rate next year back below 5% and continue to price up to half a point of cuts by the end of 2023. Core PCE inflation numbers are due later and another barrage of Fed speakers to hold Powell's take up to the light.

☆ Not having an emergency fund can lead to one of the biggest money mistakes, Suze Orman says. How Congress may help
▼ + stars: | 2022-11-30 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

Suze Orman speaks during AOL's BUILD Speaker Series at AOL Studios In New York. In a pinch, it can be tempting to take money from your 401(k) plan or other retirement savings account. But that may be one of the biggest financial mistakes you can make, personal finance expert Suze Orman said Tuesday during a webcast hosted by the Bipartisan Policy Center. "The majority of Americans, in my opinion, barely have the money today to pay for their everyday expenses," Orman said. To break that cycle, people need to establish an emergency savings account dedicated solely to unexpected expenses, Orman said.

☆ How Congress may make it easier to set money aside for emergency expenses
▼ + stars: | 2022-11-25 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

That lack of emergency savings may force them to borrow money at high interest rates to pay for the surprise expense, putting their financial security at risk. Now Congress has a window to address that issue by paving the way for new emergency savings plans in the lame duck session. Three emergency savings proposals may be included in a legislative package known as Secure 2.0, which is set to amplify changes to the retirement system brought by the Secure Act in 2019. The letter called for the inclusion of three bills that would amplify emergency savings in the pending retirement package. "We firmly believe emergency savings policy aligns with the goals of the U.S. retirement system and will help boost financial resiliency for American households," they wrote.

☆ ‘The stakes are high.’ Why there’s a push for Congress to renew the expanded child tax credit this year
▼ + stars: | 2022-11-22 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Larry French | Getty Images Entertainment | Getty ImagesMillions of families received monthly checks of up to $300 per child in 2021, thanks to the expanded child tax credit. "Policy makers can expand the child tax credit, or they can fail to act and see the Rescue Plan's historic gains against child poverty evaporate." Now, the child tax credit has reverted to previous rules, for a total of $2,000 per child up under age 17. The current child tax credit phases in with earnings above $2,500. Sarah Silbiger | Bloomberg | Getty ImagesAs Congress seeks a way to include corporate tax breaks in upcoming legislation, some lawmakers say they will not support those efforts without a renewal of an expanded child tax credit.

☆ 50-plus voters were the deciders.' How seniors influenced key congressional districts in the midterm elections
▼ + stars: | 2022-11-22 | by ( Lorie Konish | ) www.cnbc.com time to read: +2 min

Amalia Conner registers to vote so she can cast her ballot in midterm elections at the Bay Ridge Civic Association in Annapolis, November 8, 2022. An expected "red wave" of votes for Republican candidates did not come to fruition in the November midterm elections. The survey was conducted in November immediately after the election by bipartisan polling team Fabrizio Ward and Impact Research. Inflation and rising prices topped the list of overall voter concerns, with 33%, followed by abortion, 28%, and threats to democracy, 25%. Democratic candidates ranked high with voters who are concerned most with abortion and threats to democracy.

☆ Even as the midterm election results were 'positive for seniors,' some worry about Social Security amid debt ceiling negotiations
▼ + stars: | 2022-11-19 | by ( Lorie Konish | ) www.cnbc.com time to read: +1 min

The midterm elections made two key federal programs seniors rely on — Social Security and Medicare — a topic of national conversation. The National Committee to Preserve Social Security and Medicare saw more than 70 of the nearly 100 candidates it had endorsed win, according to its president and CEO, Max Richtman. Some key wins, according to Richtman, included Democratic Sen. Mark Kelly in Arizona over Republican candidate Blake Masters, as well as Democratic Sen. Maggie Hassan in New Hampshire against Republican Donald Bolduc. Both Masters and Bolduc had mentioned privatizing Medicare or Social Security during their campaigns, according to Richtman. Yet even as champions for preserving Social Security have been reelected or newly elected, other leaders have called for rethinking how those programs are approached.

☆ Deadline looms to use easy filing tools to sign up for missing $1,400 stimulus checks, child tax credit payments
▼ + stars: | 2022-11-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Thomas Barwick | Digitalvision | Getty ImagesHow much the 2021 tax credits are worthGetty ImagesThe American Rescue Plan Act passed by Congress in 2021 temporarily made enhanced tax credits available to millions of Americans. It also made existing tax credits — the child tax and earned income tax credits — more generous. The child tax credit included up to $3,600 for children under age 6 and $3,000 per child ages 6 through 17. Up to half of those amounts were paid in advance through monthly child tax credit payments. The earned income tax credit, which applies to low- and middle-income workers, was also enhanced for that tax year.

☆ Interest rates on retail credit cards are 'crazy high,' with some topping 30%. 4 things to consider before opening one
▼ + stars: | 2022-11-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Getty ImagesThat offer for a store credit card may sound tempting as you're shopping this holiday season. As the Federal Reserve raises interest rates, credit card annual percentage rates — a measure for the yearly cost of borrowing money — are climbing higher. That is especially true for retail credit cards, which tend to charge the most. Credit card interest rates more broadly recently soared to 19.04%. Borrowers with existing retail credit cards may also see the rates they are charged go up soon, Schulz said.

☆ This midterm election outcome is 'typically good for markets': What investors can expect
▼ + stars: | 2022-11-11 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Election workers open mail in ballots at the Maricopa County Tabulation and Election Center in Phoenix on Nov. 11, 2022. "We still effectively have kind of a balanced government, which is actually something markets usually like," Egan said. "This is typically good for markets as it reduces policy and regulatory risk," she said. Keep in mind how little control any given set of politicians has over the stock market or the economy in general. What's more, if you take investment risk off the table in response to the results, you could miss out on the market's upside.

☆ Goldman Sachs breaks down an options trading strategy with an 18-year track record of adding income to investors' portfolios — and recommends making these 4 trades now
▼ + stars: | 2022-11-11 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

As markets weather volatility, the investment bank recommends options trades with these 4 stocks. In a recent note to clients, Goldman Sachs breaks down this options trading strategy that the investment bank says has an 18-year track record of adding extra income to investors' pockets. Goldman Sachs Global Investment Research"These strategies have become increasingly popular among investors, especially given the prospects of flat to negative equity markets. For short-term overwriting options trades, the note focuses on three factors when choosing an "attractive" stock: events, implied volatility, and market cap of the company. "We have found that overwriting stocks with these characteristics has added over 500 bps over the past 16 years," the note said.

☆ Wall Street ends sharply higher on sign of cooling inflation
▼ + stars: | 2022-11-10 | by ( Noel Randewich | ) www.reuters.com time to read: +4 min

One-time Wall Street darlings tarnished in 2022's bear market were among Thursday's strongest performers, with Nvidia (NVDA.O) jumping about 14%, Meta Platforms (META.O) climbing 10% and Alphabet (GOOGL.O) rising 7.6%. Growing recession worries have hammered Wall Street this year. The S&P 500 (.SPX) remains down about 17% year to date, and it is on course for its biggest annual decline since 2008. S&P 500's busiest tradesThe S&P 500 climbed 5.54% to end the session at 3,956.31 points. All 11 S&P 500 sector indexes rallied, led by information technology (.SPLRCT), up 8.33%, followed by a 7.74% gain in real estate (.SPLRCR).

In the Treasuries market the yield on the 2-year note , the maturity most sensitive to Fed rate expectations, dropped by nearly 20 basis points, the most in one day since June. And traders in futures contracts tied to the Fed's benchmark rate show traders now expect the blistering pace of policy tightening to slow next month. Rate futures contracts are now pricing in a top policy rate in the 4.75%-5% range next March -- lower than the 5%-plus range seen before the report -- and interest-rate cuts in the second half of the year. Continued high inflation for services, possibly reflecting labor markets that remain tight, could prevent any quick resolution of the overall inflation problem. Speaking after the report, Philadelphia Fed president Patrick Harker indicated his support for slowing rate hikes and then stopping, perhaps even earlier than markets are now pricing in.

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