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☆ Rising household debt and shrinking incomes are setting the stage for a recession, top economist says
▼ + stars: | 2024-08-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

The US looks poised to enter a recession, thanks to troubling trends in household finances. Economist David Rosenberg pointed to rising debt levels and shrinking incomes among American households. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe US still looks poised to enter a recession, as rising debt and shrinking incomes are setting the economy up for a downturn.

Persons: David Rosenberg, —, Rosenberg Research who's, Rosenberg Organizations: Service, Rosenberg Research, Business

☆ What the Fed must do to soothe markets after a historic global sell-off, according to JPMorgan strategy chief David Kelly
▼ + stars: | 2024-08-06 | by ( Kelly Cloonan | Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Kelly says the Fed needs to broadcast its confidence in the economy to soothe jittery markets. JPMorgan's David Kelly told Business Insider he sees a possibility for even deeper losses following the big rout. We do stand ready to cut rates as appropriate but we don't think there's a very urgent situation here," Kelly said. More importantly, cutting rates abruptly would potentially instill more fear about the economy among investors, Kelly said. And I don't think the Federal Reserve tells people that, or maybe they don't appreciate it themselves," Kelly said, adding, "It's a drag before it's a stimulus."

Persons: Kelly, JPMorgan's David Kelly, —, David Kelly, Monday's, we've, Dow Jones Organizations: Fed, Service, JPMorgan Asset Management, Nasdaq, Nikkei, Reserve Locations: Japan

☆ JPMorgan says the carry trade that pummeled markets is only half done
▼ + stars: | 2024-08-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The unwinding of the carry trade that's battered stocks in recent days isn't done, JPMorgan says. It says that trade is probably only half over, as Japan looks poised to continue raising rates. AdvertisementThe "carry trade" unwind that helped spark the bloodbath in US stocks over the past few days likely isn't close to over, a JPMorgan strategist says. Market commentators say that's been partly stoked by a surprise 15-basis-point interest-rate hike in Japan, which triggered some investors to unwind a trade that's become popular in recent years. In this trade, investors borrow cheap yen and deploy the cash into higher-yielding assets elsewhere, like US stocks.

Persons: —, Arindam Sandilya, that's, Sandilya Organizations: JPMorgan, Service, FX, Bloomberg, Bank of Locations: Japan, Bank of Japan

☆ Video: Van Jones reacts to Gov. Tim Walz being named as Kamala Harris’ VP pick
▼ + stars: | 2024-08-06 | by ( Jennifer Smith | ) edition.cnn.com time to read: 1 min

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☆ The latest sell-off may be the beginning of the end for the tech bubble, strategist says
▼ + stars: | 2024-08-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The AI-fueled tech bubble could be approaching its end date, according to Paul Dietrich. The market strategist pointed to similarities between the recent tech sell-off and the dot-com crash. He pointed to the similarities between the dot-com crash and the latest drop in the stock market. AdvertisementThe flow of "smart money" in the market also suggests more downside could be on the way for tech stocks, Dietrich noted. Advertisement"What kind of evidence does one need to see that we are moving into a business cycle recession," Dietrich said.

Persons: Paul Dietrich, —, Dietrich, Jeff Bezos, Mark Zuckerberg, Jensen Huang Organizations: Service, Riley Wealth, Nasdaq, Apple, Meta, Nvidia, Artificial Intelligence

☆ Why an emergency rate cut would be a mistake for the Fed, according to Mohamed El-Erian
▼ + stars: | 2024-08-06 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The Fed would be making a mistake in delivering an emergency rate-cut, Mohamed El-Erian said. Traders see a higher chance the Fed could trim rates over the next week in response to weakening data. AdvertisementThe Federal Reserve would be making a mistake if it delivered an emergency rate cut. Amid Monday's sell-off Bloomberg reported that markets see a 60% chance the Fed could issue a cut ahead of its scheduled policy meeting. AdvertisementGiving in to the market's demands to ease monetary policy would constitute another mistake for the Fed, El-Erian said.

Persons: Mohamed El, Erian, —, Ben Kirby Organizations: Bloomberg, Traders, Service, Fed, Thornburg Investment Management Locations: El

☆ An emergency rate cut in the next week is looking more likely
▼ + stars: | 2024-08-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Traders are increasingly pinning their hopes on an emergency Fed rate cut. At one point on Monday they were assigning a 60% chance to a rate cut in the next week, according to Bloomberg data. Go to newsletter preferences Thanks for signing up! AdvertisementWall Street has been so suddenly gripped by fears of recession that talks of an emergency rate cut are gathering steam. At one point on Monday, the swap market was pricing in a 60% chance of an emergency 25-basis-point rate cut within the next week, according to Bloomberg.

Persons: — Organizations: Bloomberg, Service, Treasury, Business

☆ The stock market's recession playbook is in full effect
▼ + stars: | 2024-08-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Investors are de-risking their portfolios amid recession fears, driving a stock-market sell-off. AdvertisementThe stock market's recession playbook is in full swing as suddenly panicked investors look to aggressively de-risk their portfolios amid fears of a downturn. Investors are questioning whether the Federal Reserve waited too long to cut interest rates and whether it's too late to fend off recession. AdvertisementDetailed below are four outperforming areas of the market that make it clear investors are employing the recession playbook:1. "Next's year's pricing makes sense if the US economy falls into recession and/or inflation tumbles below the Fed's 2% target," analysts said of the market's rate-cut expectations.

Persons: —, it's, they've, David Sekera, David Rosenberg, Rosenberg, Ned Davis Organizations: Service, Federal Reserve, Nasdaq, Treasury, Bloomberg, Morningstar, Global, ETF, Rosenberg Research, Ned Davis Research

☆ Nvidia CEO Jensen Huang sold a record $323 million of stock in July before the market tanked
▼ + stars: | 2024-08-05 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Jensen Huang sold $322.7 million of Nvidia shares in July. Last month's selling brings his total stock sales to nearly $500 million this summer. AdvertisementJensen Huang shed a record amount of Nvidia shares from his portfolio last month, bring his total stock sales to nearly $500 million this summer, putting the CEO of the chip titan ahead of a brutal global stock sell-off. According to filings with the Securities and Exchange Commission, Huang sold $322.7 million worth of his company's shares in July and has sold nearly $500 million in stock this summer. Huang has sold off $1.4 billion of company stock since 2020.

Persons: Jensen Huang, —, Huang Organizations: Nvidia, Service, Securities and Exchange Commission, Bloomberg

☆ See how Trump is trying to capitalize on plunging stocks
▼ + stars: | 2024-08-05 | by ( Jennifer Smith | ) edition.cnn.com time to read: 1 min

☆ The Fed's long-awaited rate cuts will open up the job market — but it could take a while
▼ + stars: | 2024-08-03 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Read previewThe US job market has certainly seen better days. AdvertisementThose rate cuts will help pull the job market out of its slowdown — but likely not before the unemployment rate climbs higher, says Oliver Allen, a senior US economist at Pantheon Macroeconomics. And even then, it could take time for the effects of rate cuts to fully work their way across the job market, said Mark Hamrick, a senior economic analyst at Bankrate. AdvertisementSlowdown in the pipelineUntil rate cuts kick in, Allen thinks the joblessness rate has even more room to climb. AdvertisementForward-looking indicators of job market strength have also been flashing signs of incoming weakness.

Persons: —, Oliver Allen, Allen, …, Mark Hamrick, Hamrick, David Rosenberg Organizations: Service, Business, Pantheon, Challenger, Gray &, Federal, National Federation of Independent Business

☆ Why the stock market is going berserk today
▼ + stars: | 2024-08-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The stock market is in shambles on Friday, with all three major indexes falling more than 2%. AdvertisementThe US stock market has plunged into chaos as investors digest a streak of negative economic data and disappointing mega-cap-tech earnings. Months ago, signs of a slowing economy would bolster expectations for Fed rate cuts, which are seen as rocket fuel for stocks. "Pressure will escalate on the Federal Reserve as market interest rates will continue the attempt to force their hand." She added: "A September rate cut is in the bag and the Fed will be hoping they haven't, once again, been too slow to act."

Persons: They're, —, John Lynch, Seema Shah, Ryan Detrick, Carson Organizations: Amazon, Service, Investors, Intel, Comerica Wealth Management, Federal Reserve, Asset Management, York Fed Locations: New York

☆ Why investors should buy the ongoing dip in stocks, Fundstrat says
▼ + stars: | 2024-08-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Technical signals suggest downside is limitedThere isn't much evidence that poor-performing areas of the market, like small-cap stocks, have peaked, Newton said. Meanwhile, Treasury yields have fallen in recent months as traders anticipate Fed rate cuts, which is typically bullish for stocks, he added. Advertisement"Thus, looking to buy dips makes sense technically," he said, adding that small-cap stocks looked "certainly appealing" after their recent slide. Fed rate cuts will mark a turning point in the marketThat's because rate cuts are expected to ease borrowing costs across several sectors. Small-cap stocks are flashing bullish signalsThe Russell 2000 hit a 30-month high in July, something that's only happened nine times over the past 45 years.

Persons: Fundstrat's Tom Lee, Lee, —, Tom Lee, who's, Mark Newton, Newton, I'm, Russell, That's Organizations: Tech, Service, Fed, Wall Street Locations: Wall

A score between 580 to 669 is considered a fair credit score while a score under 580 is considered a poor credit score. Free credit score check servicesWhile many of these services do charge money, some of the best credit monitoring services are free, such as Capital One CreditWise or Credit Karma. As the base on which your credit score is calculated, credit reports don't actually include your credit scores. Checking credit score frequently asked questionsWill checking my credit score lower it? Your credit reports do not show when you check your credit score, so the credit scoring algorithms have no way of knowing if you checked your credit score.

Persons: Experian, FICO, you've, they're, VantageScore VantageScore, it's, Kendall Clayborne, Clayborne, Jennifer, Read Organizations: Fair, Consumers, Business, America, CBS, MSNBC, CNBC, Forbes, Black Enterprise, USA, The Johns Hopkins University Carey School of Business, Business Journalists Locations: AnnualCreditReport.com, Chevron, TheGrio, New York City

☆ Homebuyers are flocking to a type of loan that offers a lower mortgage rate. But they often require bigger down payments, and lenders don't like to give them.
▼ + stars: | 2024-08-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Homebuyers seeking lower mortgage rates are snapping up a rare type of loan. AdvertisementA type of mortgage that can offer ultra-low rates is becoming more popular among homebuyers — but they're rare and difficult to come across, real estate experts say. Buyers have been increasingly turning to assumable mortgages, or home-lending schemes where a buyer takes over a seller's mortgage, at the rate it was originally financed. Borrowing costs on the 30-year-fixed mortgage, the most popular type of mortgage in the US, ticked higher to 6.7% last week, according to Freddie Mac data. Meanwhile, 85% of existing homeowners have a mortgage rate under 6%, per an analysis from Realtor.com.

Persons: —, Freddie Mac Organizations: Service, Business

☆ Watch Biden’s speech after prisoner swap
▼ + stars: | 2024-08-01 | by ( Jennifer Smith | ) edition.cnn.com time to read: 1 min

☆ Live updates: Apple investors watching iPhone sales in China ahead of earnings today
▼ + stars: | 2024-08-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

The tech giant suffered from weak demand and rising competition in China earlier this year. Investors are looking for updates on its performance in China and coming products, like the iPhone 16. Investors will be on high-alert for updates on the firm's success in China, the services side of its business, and Apple's key projects. That includes Apple Intelligence, its coming AI software, and the iPhone 16, which is set to be released this fall. This story is available exclusively to Business Insider subscribers.

Persons: — Organizations: Investors, Service, Apple Intelligence, Business Locations: China

☆ Stock market today: Chipmakers lead tech surge ahead of Fed rate decision
▼ + stars: | 2024-07-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks surged as chipmakers lifted tech shares ahead of the Federal Reserve's rate decision. Fed Chair Powell's guidance will be crucial, with market sentiment hinging on his remarks. All eyes will be on Fed Chair Powell, who is expected to issue guidance on rate cuts in prepared remarks. Advertisement"Tonight's press conference from Fed Chair Jerome Powell may provide a catalyst for the next move. "A too-strong signal of a coming September rate cut may scare traders into thinking that the Fed sees abrupt economic weakness ahead.

Persons: —, Morgan Stanley, Powell, Jerome Powell, David Morrison, Thierry Wizman Organizations: Service, Nvidia, AMD, Federal Reserve, Fed, Trade Nation, Macquarie

The average FICO credit score is 718, and the average VantageScore credit score is 702. Minnesota has the highest average FICO credit score, with an average FICO score of 742. Understanding credit scoresWhat a credit score meansA credit score is a number that indicates how likely a person is to repay their creditors back on time, based on payment history from their credit report. The 10 states with the lowest average VantageScore credit scores show a similar pattern, predominantly comprised of southern states. Along with exploring credit scores, credit reports, and how to build credit, Jennifer analyzes how current economic trends impact everyday people and offers her expert advice on budgeting, saving, and growing wealth in today’s economy.

Persons: you've, Experian, You'd, aren't, Jennifer, Read Organizations: Minnesota, . Vermont, Wisconsin, ., . New Hampshire, Washington, . South Dakota, . North Dakota, Hawaii, . Massachusetts, . Montana, Oregon, Vermont, . Wisconsin, Colorado, South Carolina, . Arkansas, Oklahoma, Georgia, . Texas, Alabama, Louisiana, US Census, West Virginia, . Kentucky, Business, America, CBS, MSNBC, CNBC, Forbes, Black Enterprise, USA, The Johns Hopkins University Carey School of Business, Business Journalists Locations: Minnesota, . Mississippi, Mississippi, . New, . South, . North, Hawaii, Nevada, New Mexico, South, United States, Chevron, U.S, TheGrio, New York City

☆ UL Solutions CEO Jennifer Scanlon goes one-on-one with Jim Cramer
▼ + stars: | 2024-07-31 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

UL Solutions CEO Jennifer Scanlon goes one-on-one with Jim CramerUL Solutions President and CEO Jennifer Scanlon joins 'Mad Money' host Jim Cramer to talk quarterly results, battery safety and legislation, and more.

Persons: Jennifer Scanlon, Jim Cramer Organizations: UL

☆ Stock market today: Nasdaq surges nearly 3% amid chip rally, dovish Fed comments
▼ + stars: | 2024-07-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Central bankers said they had more confidence inflation was back on track to 2%. Markets are pricing in a 100% chance of a rate cut in September, per the CME FedWatch tool. AdvertisementUS stocks surged on Wednesday, driven by a rally in the tech sector and dovish comments from the Federal Reserve. The second quarter's inflation readings have added to our confidence, and more good data would further strengthen that confidence," Fed Chair Powell said in prepared remarks. Markets are now pricing in with certainty that the Fed will cut rates in September, according to the CME FedWatch tool.

Persons: —, Powell, Philip Straehl, Morgan Stanley Organizations: Fed, Service, Federal Reserve, Nasdaq, Morningstar Wealth, AMD, Nvidia

☆ See Simone Biles’ funny reaction when asked about her team name
▼ + stars: | 2024-07-31 | by ( Jennifer Smith | ) edition.cnn.com time to read: 1 min

☆ 'A growth turnaround beginning': Here's what Wall Street expects from Apple's 3rd-quarter earnings
▼ + stars: | 2024-07-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +7 min

Artificial intelligence incorporated into Apple products could add another $30 to $40 each share of Apple stock, Wedbush estimated. "We strongly believe June will be the last negative growth quarter for China with a growth turnaround beginning in the September quarter. AdvertisementMorgan Stanley: Big upgrade cycle comingMorgan Stanley's research team reiterated Apple as its "top pick", thanks to a large number of Apple users set to upgrade their devices. "Apple Intelligence is a clear catalyst for a multi-year product upgrade cycle," analysts added in a note. But investors are still waiting for Apple Intelligence to roll out before sentiment improves.

Persons: —, Wedbush, Needham, Morgan Stanley, Morgan Stanley's, Oppenheimer, Apple's Organizations: Service, Apple, Apple Intelligence, Business, OpenAI, Bank of America, Apple Care, Apple Music, Analysts, Barclays, Stock Locations: China, Asia, Needham, Apple's

☆ The 'Trump dump': The presidential hopeful causes deep stock losses in companies and industries he targets, researchers say
▼ + stars: | 2024-07-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Trump is sparking steep losses in areas of the market he's targeted, a group of researchers said. Researchers pointed to Trump's many "tantrums" against certain companies and sectors, which sparked sell-offs. AdvertisementThe market is in the midst of another "Trump Dump," a phenomenon where stocks see deep losses when the presidential hopeful targets them, according a group of researchers. Advertisement"As bad as turbulence has been, a second Trump term promises to be even more perilous for the stock market," they added, pointing to the potential consequences of Trump's economic policies. Other economists have criticized Trump's economic agenda.

Persons: Trump, —, Jeffrey Sonnenfeld, Whitney Tilson, Steven Tian —, Davidson, Powell, Donald Trump, Harris, Joseph Stiglitz Organizations: Service, Bloomberg, Taiwan Semiconductor, Nasdaq, Clean Energy, Harley, Delta Airlines, Biden, Trump Locations: Taiwan, Trump's

☆ Sellers are 'losing their grip' on the housing market as home prices cool, research firm says
▼ + stars: | 2024-07-30 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +1 min

Sellers are quickly "losing their grip" on the housing market, according to Capital Economics. That's because home prices are cooling, thanks to more inventory staying on the market. Still, the research firm is forecasting a 5% surge in home prices by the end of the year. That's because higher levels of inventory are starting to weigh on home prices, according to the research firm Capital Economics. It's starting to reverse a trend that's persisted for the past few years, with tight inventory pushing home prices to record highs.

Persons: Sellers, — Organizations: Capital Economics, Service, Business

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