The government’s two main measures of US economic activity diverged in the first quarter, with one gauge painting a picture of weakness. Gross domestic product rose at a revised 1.3% annualized pace in the first quarter, up slightly from the government’s previous estimate. However, a… Read More »Two Key Gauges of US Economic Activity Diverged in First Quarter
Federal Reserve officials were divided at their last meeting over where to go with interest rates, with some members seeing the need for more increases while others expected a slowdown in growth to remove the need to tighten further, minutes released Wednesday showed. Though the… Read More »Fed officials less confident on the need for more rate hikes, minutes show
KEY POINTS Even as inflation cools, consumers still show signs of strain. As of April, the share of adults feeling stretched too thin held nearly steady at 61%, according to a new LendingClub report. However, high-income earners are increasingly under pressure, LendingClub found. Of those earning more than… Read More »Share of six-figure earners living paycheck to paycheck jumps, report finds. Advisor offers ways to break the cycle
Investors are boosting their bullish bets on US equities, making positioning increasingly “one-sided,” according to Citigroup Inc. strategists. Market participants have added $21 billion in new long positions on S&P 500 futures, Citi’s data showed, even as talks in Washington to resolve the debt-ceiling impasse… Read More »Citi Says Buyers Plow $21 Billion Into US Stocks
KEY POINTS When it comes to managing money, women face unique challenges. Women tend to live longer than men, which means they need their money to last for a longer period of time, according to Kamila Elliott, a certified financial planner and co-founder and CEO of Collective Wealth Partners in… Read More »Women need financial freedom to ‘live on their terms,’ advisor says. These 3 strategies can help
Imagine boarding a plane for a long-awaited retirement vacation in Hawaii. Before takeoff, the captain announces the crew is fairly certain they have enough fuel to make it to Hawaii safely, but if not, the plane will land in a desert instead. Not only that,… Read More »Saving for Retirement Isn’t Enough: You Need a Wealth Plan
Preparing for retirement is something most adults will do their entire working lives, but ensuring a successful post-retirement life has many different phases. The last five years before you retire are particularly important, as you’ll start putting your lifelong plans into motion. Why the Last… Read More »How to Retire in 5 Years
WASHINGTON, D.C. — Americans remain guarded about their personal finances, with the majority (55%) saying their financial situation is “only fair” or “poor” rather than “excellent” or “good” (45%). More also report that their financial situation is worsening (50%) than improving (37%). Consumers’ perspectives on… Read More »Americans Remain Discouraged About Personal Finances
Eighteen months since the start of a near year-long selloff, the Nasdaq 100 Index has recovered half the losses that pushed it into a bear market. The question now: can the tech-heavy gauge extend its rally? Much of the answer likely lies within its seven… Read More »Nasdaq 100’s Big Recovery Faces a Key Tipping Point
KEY POINTS The IRS flagged more than 1 million tax returns for potential identity theft during the 2023 tax season, according to the U.S. Department of the Treasury, signaling that such fraud continues to be a pervasive problem for taxpayers. Tax-related identity theft occurs when criminals use a taxpayer’s… Read More »IRS flagged more than 1 million tax returns for identity fraud in 2023