Stocks
7 ways to help your partner boost their retirement savings
You and your partner may be a pair but your retirement savings aren’t in sync. You may have established some steady savings and are in good shape but your partner is not. He or she may have very little saved or hasn’t got started at all, focusing on other goals...
Copper production boosts FreePort-McMoRan results past Wall Street expectations
FreePort-McMoRan Inc.’s stock rose 6.3% on Wednesday after the mining giant’s fourth-quarter profit and revenue beat Wall Street projections, with its copper volumes exceeding its earlier estimate. FreePort-McMoRan FCX, +5.66% also said it expects to produce more gold...
DAX index jumps to record high as hedge fund bets $1 bln against German stocks
The DAX index was on course for a fresh record high midday Wednesday in Europe as a hedge fund placed a $1 billion bet against some of Germany’s biggest companies. The Frankfurt-based DAX DX:DAX rose 1.4% to 16,864, topping the previous high set at the end of last...
Global bond markets are unwinding the rally from December’s ‘Fed pivot party’
U.S. stocks are still clinging to their recent record highs, but around the world, global bond markets are starting to reverse some of a rally that carried yields lower and prices higher late last year. Yields on benchmark government bonds in Canada, Germany, the...
MedMen goes from height of $3B valuation to zero as stock draws cease-trade order
MedMen Enterprises Inc.’s stock has drawn a cease-trade order as the once high-flying cannabis company has dropped from a $3 billion valuation in 2018 to near zero. Back in 2018 when California’s recreational pot market was gearing up, MedMen Enterprises MMNFF,...
Chipotle to hire 19,000 employees to prepare for busy ‘burrito season’
Chipotle Mexican Grill Inc. announced Wednesday plans to hire 19,000 additional employees ahead of what it dubs “burrito season.” The seasonal hires, which would be 27% more than the 15,000 hired last year, are in preparation for its busiest time of the year, from...
Caroline Wozniacki and David Lee put Miami beach penthouse on market for $42.5M
Tennis star Caroline Wozniacki and her husband, former NBA forward David Lee, have listed their marvelous Miami Beach penthouse. The athletic pair, who got married in 2019, are asking $42.5 million for the luxe residence. The large unit is in a building on...
New Nasdaq tool suggests the IPO market will be in an uptrend
As the U.S. initial public offering market continues to thaw after a deep freeze over the last year, the Nasdaq has launched a new tool to help investors determine where the market is headed over the next six months. The Nasdaq IPO Pulse Index seeks to show the trend...
Opinion: 5 reasons to love unloved energy stocks – and 10 ways to buy them
It’s getting harder to find cheap, out-of-favor groups and stocks, but they’re out there. Energy is a great example. The group remains unloved and under-owned, say analysts at Bank of America. That brings me to five reasons energy stocks will move a lot higher this...
Veteran manager picks stock market’s losers over the shiny winners
Another day another record close for the S&P 500? Equity futures are pointing in that direction on Wednesday, with tech in the drivers seat after upbeat Netflix results and hopes riding high for Tesla earnings later.Those and other Magnificent 7 stocks have made...
Can I still get Netflix with T-Mobile? Streaming deals, explained.
Streaming services are getting so expensive that some customers have decided it’s better to just cancel them. But what if you want to keep one or two that you can’t imagine losing? Are there any good deals to save some cash? Getting a discount on a streaming service...
Deutsche Bank downgrades Netflix, arguing market has priced in leading position
Blowout earnings aren’t the obvious time for a downgrade. Yet Deutsche Bank, while lifting its price target on Netflix to $525 from $460, has downgraded its rating on the streaming leader to hold from buy. Netflix shares NFLX rallied 9% to $539 in premarket trade on...
S&P 500 futures point to fresh record on Netflix results, bond market calm
Futures showed the S&P 500 on course for another record as a batch of well-received earnings, calmer bond markets and a monetary boost in China lifted risk appetite.How are stock-index futures trading S&P 500 futures ES00, +0.37% added 22 points, or 0.4%, to...
10 roadblocks to electric vehicle ownership
Despite nonstop positive press, government subsidies, and Americans’ propensity for wanting and acquiring the newest “big thing,” electric vehicles remain out of reach or unwanted by many in the U.S.. EVs are those cars, SUVs, and light trucks powered solely by...
Bill Ackman and his Israeli-born wife take stake in Tel Aviv Stock Exchange
Top hedge-fund manager Bill Ackman and his wife Neri Oxman have purchased a 4.9% equity stake in the Tel Aviv Stock Exchange. Ackman has captured headlines over his reaction to antisemitism on Ivy League campuses after the Hamas attack on Israel, and Israel’s ensuing...
China stocks jump again on plan for $139 billion cut to bank reserves
Chinese stocks jumped late in Asia trading Wednesday after the country’s central bank said it would soon loosen monetary policy to support the ailing economy. Peoples Bank of China Governor Pan Gongsheng said at a press briefing that the reserve requirement ratio for...
Investors should continue to steer clear of Chinese stocks, investors warn.
Valuations in the Chinese stock market are collapsing in the new year, heaping more pressure on shares of some of the most respectable companies trading in the world’s second-largest economy. These steep January declines followed multiple years of losses for the Hong...
Something incredible happened in the NBA: Neither Woj nor Shams broke a story. And then it was wrong.
Any NBA fan knows, when it comes to major news, it comes from two sources: Adrian Wojnarowski of ESPN, or his one-time disciple, Shams Charania of The Athletic. Woj or Shams. Coke or Pepsi. Boeing or Airbus. Trades, player signings, coaching firings, league...
Oil traders care more about North Dakota weather than Red Sea missile attacks
The weather in North Dakota has managed to do what Houthi rebels operating in the Red Sea have so far failed to — disrupt the supply of oil. Low temperatures across the state of North Dakota last week led to disruptions to oil production in the Bakken, which contains...
Is it gauche to ask financial questions before a first date?
I met a guy on Tinder MTCH, +0.03% and had an introductory telephone conversation, which I always think is a good idea before making the effort to meet in person. During our 15-minute telephone conversation, he told me about his divorce, his job and his hobbies. He...
Small-cap stocks had a rough start to 2024 — but could still shine this year
Small-cap stocks have had a rough start to 2024 so far, but they could still shine over the rest of this year, according to Tom Lee, an equity bull and head of research at Fundstrat Global Advisors. Lee expects the large-cap benchmark S&P 500 SPX to rally to 5,200...
Eli Lilly gene therapy allows child born deaf to hear, clinical trial shows
An Eli Lilly & Co. LLY, -0.75% experimental gene therapy has restored the hearing of a child who was born deaf, the pharmaceutical giant said Tuesday. The child, who was 11 years old at the time the therapy was administered, experienced restored hearing within 30...
The surprising jobs paying $100K — some with no degree or commute required
That cushy office job may be harder to come by these days — but working in a cubicle isn’t the only way to a six-figure salary.The question surfaced recently on Reddit: What kinds of jobs will pay $100,000 a year or more? Many users are sharing their own...
Pummeled China ETFs jump after report Beijing may support ailing stock market
Exchange-traded funds that target Chinese equites were surging on Tuesday as Beijing reportedly weighs a support package for its struggling stock market. Shares of the iShares MSCI China ETF MCHI were gaining 3.1% in late morning trading on Tuesday, while the...
Johnson & Johnson’s earnings beat estimates with boost from medtech sales
Johnson & Johnson posted stronger-than-expected earnings for the fourth quarter early Tuesday and offered guidance that topped consensus estimates, but the stock moved lower in premarket trade. The company JNJ, -1.52%, which spun off its consumer-health operations...
Wall Street is already weighing likely impact of a Trump presidency on markets
With the Nov. 5 U.S. presidential election still more than nine months away, Wall Street is weighing in on the possibility that Donald Trump returns to the White House and is mapping out the potential reactions that could unfold in financial markets. As Trump faced...
Intuit’s ‘deceptive’ TurboTax ads tricked customers for years, FTC says
TurboTax has long used deceptive advertising touting free tax preparation on the popular platform, when in reality many people needed to pay for its filing services, the Federal Trade Commission’s top officials ruled Monday. One week before the start for tax-filing...
My wife of 65 years died and my IRA mistake resulted in double the RMD
Got a question about investing, how it fits into your overall financial plan and what strategies can help you make the most out of your money? Write to me at beth.pinsker@marketwatch.com and put Fix My Portfolio in the subject line. My wife died in 2022. We were...
3M’s stock suffering biggest selloff in 5 years after 2024 profit warning
Shares of 3M Co. tanked Tuesday, after the consumer, industrial and healthcare-products company provided a 2024 profit outlook that was well below forecasts, which overshadowed fourth-quarter results that topped expectations. The results come as the maker of Post-it...
WWE and UFC parent’s stock, TKO, rockets after deal to show ‘Raw’ on Netflix
Shares of TKO Group Holdings Inc. soared toward a record gain Tuesday, after the parent of World Wrestling Entertainment and Ultimate Fighting Championship announced a deal with Netflix Inc. in which WWE’s “Raw” program will be shown exclusively on the streaming...
Plug Power’s beaten-down stock rockets as funding update offers some relief
Beleaguered alternative-energy company Plug Power Inc. offered a positive funding update Tuesday morning, helping to send its shares soaring in premarket action. Plug Power PLUG, +5.97%, which provides hydrogen fuel-cell technology, finalized a term-sheet negotiation...
Disgruntled ex-employees vent on TikTok, but is there a good way to fire staff?
At the same time, dismissed employees talk increasingly on social media about how companies could have handled things differently. “I still was given zero notice,” one woman said of her situation on TikTok. “They questioned my character,” another woman complained....
Lockheed Martin’s Q4 profit and sales beat Wall Street estimates
Lockheed Martin Corp.’s stock fell 0.4% in premarket trading on Tuesday after the defense contractor’s fourth-quarter earnings beat analyst estimates, but it said its sales could fall short of Wall Street projections on the lower end of its range. Lockheed Martin LMT,...
Oil prices pull back from highest levels of new year
Oil futures edged lower Tuesday, pulling back from a nearly one-month high, as traders weighed production outages and fears of rising Middle East tensions.Price moves West Texas Intermediate crude for March delivery CL00, -0.71% CL.1, -1.28% CLH24, -0.71% fell 66...
Aerospace company RTX rises as Q4 earnings and revenue beat estimates
RTX Corp.’s stock was up by 4% in premarket trading on Tuesday after the Collins Aerospace Systems and Pratt & Whitney owner beat analyst expectations for fourth-quarter profit and revenue. RTX RTX, -0.60% which was formerly called Raytheon, said its net income...
GE’s stock suffering biggest selloff in 20 months after profit outlook misses
Shares of General Electric Co. GE, +1.09% pulled back sharply Tuesday, after the aerospace, power and renewable-energy company’s disappointing profit outlook for the current overshadowed a fourth-quarter earnings beat that was fueled by strength in the GE Vernova...
Treasury yields nudge higher ahead of GDP and inflation data later in the week
Bond yields nudged higher early Tuesday, amid steadier trading than of late with market moving catalysts thin on the ground.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y added 3 basis points to 4.411%. Yields move in the opposite direction to...
A key Tesla metric is ‘under threat.’ Wall Street will soon learn more.
Tesla Inc.’s price cuts have led Wall Street to lower estimates for the electric-vehicle maker’s profit, and to question its prospects. On Wednesday, investors will have a chance to see just how much the cuts have mattered in a larger context for Tesla TSLA, -1.60%,...
S&P 500 futures hold at record highs as earnings season ramps up
U.S. stock index futures showed benchmarks holding at record levels as bond markets stabilized and traders eyed an accelerating flow of corporate earnings reports. How are stock-index futures trading S&P 500 futures ES00, -0.01% were barely changed at 4881 Dow...
Ericsson says infrastructure investment slump will continue hitting its sales in 2024
Shares in Telefonaktiebolaget LM Ericsson on Tuesday fell on Tuesday after the Swedish telecoms giant said it expects the slowdown in the global mobile networks industry will continue impacting its sales in 2024. The Stockholm phone company blamed a global slump in...
5 great places to live in Hawaii
Hawaii is made up of eight major volcanic islands and many smaller islands; this archipelago became the 50th state in 1959. Maui, Kauai, Oahu, Lanai and the Big Island are a few of the more well-known islands in the Aloha State. Hawaii is the only state outside North...
Hang Seng jumps off lows on report of Beijing’s $278 billion support package
Hong Kong’s Hang Seng index rose sharply off 14-month lows on Tuesday, leading Chinese bourses higher, following a report Beijing was considering a $278 billion package to support the country’s stock market. Authorities are looking to utilize about 2 trillion yuan...
Space stock Intuitive Machines climbs ahead of historic moon-landing mission
Shares of space-exploration company Intuitive Machines Inc. climbed 7.3% on Monday as the lunar-landing spotlight shifts onto the Houston-based firm. Last week, U.S. private space company Astrobotic Technology ended its troubled mission to place a lander on the moon...
United sees bigger-than-expected first-quarter loss after 737 Max groundings. Here’s why the stock is rallying anyway.
United Airlines Holdings Inc. said it expected to lose more money than expected in the first quarter, after the government this month ordered dozens of Boeing 737 Max 9 jets grounded following a mid-air blowout on an Alaska Airlines flight. But shares of United UAL,...
Australia sanctions Russian man for role in Medibank cyberattack
Australia has sanctioned a Russian individual for his role in a cyberattack on health insurer Medibank MPL, -3.66%, the first time that Australia’s cyber sanctions framework has been used, officials said. Nearly 10 million records were stolen in the 2022 attack,...
These 3 stock-market sectors were only winners in S&P 500’s 2-year trip back to record high
The S&P 500 notched an all-time closing high on Friday, yet most of its sectors were still trading below levels seen when the index reached its last peak a bit more than two years ago, according to DataTrek Research. In a note emailed Monday, DataTrek evaluated...
Justice Department, FTC mull antitrust investigation of OpenAI: report
OpenAI is in the crosshairs of antitrust investigators at the Justice Department and Federal Trade Commission, according to a Politico report Monday. The agencies are in discussions over which will probe the ChatGPT creator and its involvement with Microsoft Corp....
A new issue in divorce: Who keeps the mortgage rate?
When Ann Shea, 44, was finalizing a divorce last year, she knew she wanted to keep the suburban Chicago home where she was raising her school-age kids. But it was equally important for her to hold onto her relatively low mortgage rate.She had purchased the home in the...
Nvidia is no longer Morgan Stanley’s top chip pick. A much different name is.
Morgan Stanley no longer considers Nvidia Corp. its No. 1 chip pick, and is now turning to a different part of the sector for its latest top endorsement. Morgan Stanley analyst Joseph Moore has elevated Western Digital Corp.’s stock WDC, +5.09% to his No. 1...
Opinion: Recession was inevitable, economists said. Here’s why they were wrong.
In an August 2022 CNBC interview, Steve H. Hanke, a Johns Hopkins University economics professor, predicted: “We’re going to have one whopper of a recession in 2023.” In April 2023, he repeated the warning: “We know the recession is baked in the cake,” he said. Many...
The latest from the ‘Single Greatest Predictor of Future Stock Market Returns’
The S&P 500’s SPX total return over the next decade will be 0.7 annualized percentage points below inflation. That’s the implication of where the “Single Greatest Predictor of Future Stock Market Returns” currently stands. This indicator, introduced in 2013 by the...
Geopolitical risks are making inflation near 3% more likely, BlackRock says
Investment giant BlackRock Inc. BLK, -0.77% is making what it calls one of its strongest strategic calls of the moment: Inflation is likely to stay closer to 3% as the world increasingly splits itself into competing blocs.Attacks by Yemen’s Houthi militants on Red Sea...
How much caffeine is in Panera’s Charged Lemonade, Starbucks, Celsius and more
How much caffeine is in your daily coffee or energy drink — and is it dangerous? A third lawsuit against Panera Bread over the chain’s caffeinated Charged Lemonade may have given some folks renewed jitters about whether their go-to energy drink is safe to sip. The...
U.S. IPO market awaits another $1 billion week, with BrightSpring on tap
The U.S. initial-public-offering market is continuing to emerge from a long dry spell, with another busy week on tap with at least $1 billion worth of deals expected, led by healthcare-services provider BrightSpring Health Services Inc. That company, which offers...
What estate-planning documents do I need?
Marianne came waltzing into my office, but her words did not fit her peaceful smile.Stunned, I looked quickly at her husband, Ted, who explained. “We finally took your advice. We met with a lawyer and got our wills done.” Smiling, I congratulated them. I had been...
Leading indicators fall again, but U.S. appears no closer to recession
Breaking news. Check back for updates. The numbers: The leading indicators for the U.S. economy fell again in December to mark the 21st decline in a row, but a widely predicted recession still appears no closer than when the long losing streak first began. The leading...
Should Apple investors worry about a Justice Department antitrust lawsuit?
As the Justice Department marches inexorably toward an antitrust lawsuit against Apple Inc. that could come as soon as March, some investors are bracing for collateral damage to the company’s fortunes. Most, however, aren’t sweating this. They have deeper...
Here are the stock-market lessons from 134 elections in 17 countries
It’s less than a year until inauguration for the next U.S. president, bringing into focus the impact from elections on markets, in a year in which not just the U.S. but India, Mexico and almost certainly the U.K. will head to the polls. Strategists at Citi examined...
Home Depot and Lowe’s downgraded on ‘cautious’ stance toward home improvement
Home Depot Inc. and Lowe’s Cos. stocks dipped in premarket trading on Monday after Oppenheimer downgraded the two construction-material and hardware giants to perform from outperform and cut their target prices. Upcoming initial 2024 guidance from Home Depot and...
Sunoco to acquire NuStar in $7.3 billion deal including debt
Sunoco LP and pipeline operator NuStar Energy LP said Monday they have agreed to combine in an all-stock deal valued at about $7.3 billion, including debt. Under the terms of the deal, NuStar NS, common unitholders will receive 0.400 Sunoco shares for each unit owned,...
Tech leads stock market’s January rally by wide margin. Watch out for February.
Tech shares have dominated a reluctant January rally that finally pushed the S&P 500 into record territory at the end of last week. History says the sector is unlikely to repeat its market-leading ways in February, according to analysts at Jefferies. “Tech is the...
Is Buffett’s market view found in Berkshire Hathaway’s $150 billion cash hoard?
“Some financial advisers are asserting that Buffett is finding it harder than ever to find undervalued companies to acquire.” Warren Buffett’s company may be sitting on a record amount of cash, but that doesn’t necessarily mean the famed investor thinks the stock...
The stock market needs better earnings to keep climbing. It’s not going to get them, warns JPMorgan
Action in futures markets at the start of the week points to the S&P 500 SPX registering a new record.Inevitably, fresh peaks cause some in the market to display nascent acrophobia. Symptoms include sweating about speed of the ascent and valuation angst. Earnings...
JPMorgan and Morgan Stanley recommend buying 5-year note ahead of auction
Bond yields were mixed on Monday, as both JPMorgan and Morgan Stanley recommended buying 5-year notes ahead of an auction this week.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y was 4.39%, up 1.7 basis points. Yields move in the opposite direction...
S&P 500 poised for fresh record high as futures advance
U.S. stock futures advanced on Monday, building off a record finish ahead of the ramping up of fourth-quarter earnings season.What’s happening Dow Jones Industrial Average futures YM00, +0.11% rose 42 points, or 0.1%, 38087 S&P 500 futures ES00, +0.28% gained 14...
Credit Agricole snaps up 7% stake in JV partner Worldline after 66% stock slide
Credit Agricole on Monday said it had acquired a 7% stake in payments company Worldline as the two firms push ahead with plans announced in July to launch a new joint venture payments processing company intended to become a major player in France’s financial services...
Why car insurances costs have gotten so high
The cost of the average car insurance policy last month was 20.3% higher than a year before, according to the Bureau of Labor Statistics. It’s the highest one-year increase in insurance costs since 1976, according to Bloomberg. The average 6-month policy started in...
China holds benchmark lending rates steady
China’s benchmark lending rates were kept steady after the central bank held its key policy rates unchanged earlier this month, according to data released by the People’s Bank of China. The one-year loan prime rate stayed at 3.45% while the five-year rate was left at...
ADM shares plunge as it investigates accounting, misses profit expectations
Archer Daniels Midland shares plunged in premarket trade on Monday as the agribusiness giant said its chief financial officer has been placed under administrative leave, amid an investigation into accounting practices in its nutrition segment. ADM said CFO Vikram...
Terraform Labs files for bankruptcy following crash of its stablecoins in 2022
Terraform Labs filed for chapter 11 bankruptcy protection Sunday, following the collapse of its TerraUSD and Luna crypto coins in 2022. In a statement, Singapore-based Terraform said it took the “strategic step” of filing in Delaware bankruptcy court so it could...
Bill Ackman’s Pershing Square back in ranks of world’s 20 top hedge funds
Bill Ackman’s Pershing Square Capital Management has re-entered the ranks of the world’s 20 best performing hedge funds following a bumper year for the New York money manager after it previously dropped off the list in 2015. The New York fund, which has $17.9 billion...
France’s FDJ makes €2.6 billion offer for online gambling company Kindred Group
French gaming company La Française des Jeux SA (FDJ) has made an all-cash €2.6 billion ($2.9 billion) offer for online rival Kindred Group, in a deal aimed at creating one of Europe’s largest online gambling companies. In a statement on Monday, FDJ FDJ, +1.48% said it...
Stock-market investors face another ugly election. Does history offer comfort?
Here’s some good news for investors fretting over what promises to be a highly contentious 2024 U.S. presidential election: History shows stocks tend to rally in the year before Election Day.But there’s a rub, noted Saira Malik, chief investment officer at Nuveen,...
Cost cutting may see profit margins rising again in 2024
After higher costs and shaky consumer demand caught up with corporate America last year, Wall Street now expects corporate profit margins to rebound through the first half of 2024, as more companies resort to layoffs, technology or other cutbacks in an effort to guard...
I’m 76 with no relatives. What should I do with my estate?
Dear MarketWatch, I’m 76 and have been widowed since 1994. I’m retired in South Carolina. I have savings of $620,000, Supplemental Security Income of $2,200 per month and have up to a five-year long-term care policy of about $4,200 per month. My only debt is $900 a...
My mom refuses to move out of my house. She paid for upkeep and appliances.
I live in Florida and bought a house in 2011. My mother moved in about a year later. We never discussed if this was permanent or not, but after a few years I started thinking about living on my own again. However, she refuses to move out. She has invested money in...
49ers QB Brock Purdy made less money this year than 16 college football players
Brock Purdy signed a four-year contract with the San Francisco 49ers in 2022 that turned out to be one of the biggest bargains in the league today. Because Purdy, 24, was drafted with the last pick in the seventh round of the NFL draft in 2022, he’s locked into a...
How to make the move to a care facility less traumatic for an aging loved one
It happens unexpectedly — an urgent call that Dad can no longer live alone. Within weeks, he finds himself relocated to a long-term-care facility. His familiar surroundings are gone. He knows no one. He’s concerned about fitting in and unfamiliar caregivers. The move...
Forget tequila and mezcal. Bacanora is now the ‘it’ Mexican spirit.
The bottles Kilinga Bacanora, $56.99-$73.99The back story It’s no secret that Americans love their tequila and mezcal. Annual sales of the Mexican-made spirits, derived from the agave plant, have soared over the past two decades, from just under $1 billion in 2003 to...
Renting is cheaper than owning a home in 90% of the U.S., report says
In the vast majority of U.S. real-estate markets, renting is still cheaper than owning, according to a new report from Attom that looked at renting versus owning three-bedroom homes. The analysis revealed that home buyers can’t seem to catch a break in this market. As...
‘It was just a facade’: CEO charged with stealing $150 million in crypto scam
The telltale warning to investors in crypto-investment platform USI Tech should have been when its chief executive, Horst Jicha, told them: “Now you might be thinking this is too good to be true.” Federal prosecutors say it was exactly that, and that the crypto...
You have no debt. Does your credit score still matter?
You own your home and car free and clear. You pay your credit-card balance in full every month. You have no remaining student loans — or any outstanding loans. In short, you have no debt. So does your credit score even matter anymore? On the surface, the quick answer...
What’s the process for taking my RMD?
Dear Dan, I understand the penalty is 50% for missing a mandatory payout from a retirement account. I don’t have mandatory payouts because I’m still working but I’ll be 75 in June and think 2024 might be my last year working. If I hang them up in December, will my...
3 ways to make sure your heirs avoid the anguish of probate
Many of us have experienced the devastating grief of losing a partner or parent. That grief can be magnified when we need to handle the settling of the estate.This may have been easier for a surviving spouse, if all assets were held jointly. But if you had to settle...
Social Security’s cost-of-living adjustment for 2025 could be lowest in 5 years
The cost-of-living adjustment for 2025’s Social Security recipients could be as low as 1.4%, down from 3.2% this year — making it the lowest level since 2020, according to an analysis by the Senior Citizens League. December’s inflation reading for the CPI-W — the...
My wife and I are nearing 60 with 10-year-old twins. How can we retire?
Dear MarketWatch, I am almost 60 and my wife is in her mid-50’s. Our twins are almost 10. Because we had children late in life, my wife hasn’t worked in a decade. Our house is almost paid off — it’s worth around $400,000 — and I have $500,000 in my 401(k), and...
This earnings season holds a hidden clue about stock prices
Corporate profit margins are rising — again. This means that profit margins continue to postpone a decline from their well-above-average levels. For years we’ve been told that margins were reliably mean reverting: high profit margins would soon come down, while low...
Bitcoin ETFs had their first week of trading. Here’s who’s winning and losing.
BlackRock is leading inflows into spot bitcoin exchange-traded funds after about a week of trading, as investors weigh a group of similar ETFs that all launched on the same day.“It’s pretty clear that BlackRock has a pretty strong start out the gate,” said Aniket...
China’s low birth rate will slow its stock market. Here’s when to expect it.
It will take years — decades even — for China’s stock market to feel the impact of the country’s latest demographic data. China recently reported that 2023 was the seventh year in a row in which the number of births in has fallen. Netted against deaths, the decline in...
Fed’s favorite price gauge and GDP to give latest reads on inflation, economy
Inflation is slowing and the U.S. economy is still growing. What more could the Federal Reserve want? More of the same. Inflation is still too high for the Fed, not to mention the general public. And the economy is showing some strains from higher interest rates. The...
3 ways to prep for a tougher job market in 2024: ‘A lot of doors are closing.’
The economy pumped out a surprisingly strong 216,000 new jobs in December, the Department of Labor said Friday, suggesting lots of residual strength in a cooling U.S. labor market. But the outlook for 2024 is slightly less upbeat: Employees and job seekers —...
Opinion: It’s the Trillionaires’ stock market, and the rest of us are along for the ride.
The Trillionaires rescued the S&P 500 in 2023, and they are now in full control of the market — for better or worse. By “Trillionaires,” I mean the seven U.S. companies that have been valued at $1 trillion or more by the public markets –- Google parent Alphabet...
10 stocks for investors looking for ‘wonderful companies at a fair price’
As money managers talk about various methods of selecting quality companies, investors might also think about diversification, which can lower risk and broaden opportunities. Investors in the U.S. are likely to take advantage of low-cost index funds, such as the SPDR...
The case for healthcare stocks
So far this year, the healthcare sector of the S&P 500 has performed well, after being left behind last year. Here’s how the 11 sectors of the S&P 500 have been performing, with dividends reinvested:Any discussion of “recent” returns really needs to look back...
Oil traders aren’t panicking over Middle East shipping attacks. Here’s why.
Oil traders have been closely watching developments in the Middle East for any signs of disruption to global supplies, but the major players in the conflict have engaged in “calibrated” moves to avoid making matters worse, according to a recent note research from...
JetBlue, Spirit Airlines appeal court ruling blocking their proposed merger
JetBlue Airways Corp. and Spirit Airlines Inc. said late Friday that they have appealed a court ruling that earlier this week blocked their planned merger. JetBlue JBLU, -1.19% and Spirit SAVE, +17.19% announced the appeal in a terse press release that provided no...
Walmart is reportedly closing its innovation hub. It’s the latest in retailer cost cuts.
Walmart Inc. will shut down Store No. 8, the big-box retailer’s startup incubator and innovation hub, the Wall Street Journal reported on Friday. It’s the latest move by a retailer to trim expenses and protect profits as shoppers continue to grapple with higher...
Russian hacking group accessed Microsoft executive emails, company says
Microsoft Corp. said Friday a Russian hacking group illegally gained access to some of its top executives’ email accounts. In a regulatory filing, the software giant MSFT, +1.22% said a group called Nobelium was responsible for the attack. In late November, the group...
More than 4 million people are turning 65 this year — and it will affect you
Everything in society — housing, healthcare, the workplace, inflation and even the way urban planners design city streets — will be affected by the sheer volume of Americans turning 65 this year, and the years ahead. More than 4.1 million people are expected to...
Meme stock AMC books second straight day of gains after run of record lows
Shares of AMC Entertainment Holdings Inc. extended their gains for a second straight day Friday, providing the original meme stock’s investors with some respite after a poor run of losses. AMC’s stock AMC, +1.81%, which has hit a series of record lows recently, ended...
PayPal’s stock enjoying best three-day run in 14 months with a key event on deck
PayPal Holdings Inc.’s stock is finishing off the week on a good note. Shares of the payment-technology company PYPL, +6.51% were rising 5.5% in Friday afternoon action, sitting as the second-best performer in the S&P 500 SPX with about two hours left in trading....
What will interest rates do next?
Interest rates may decline in coming months. However, they may also rise. I offer these earth-shattering insights as a counter to the myriad analysts and commentators who confidently predict what interest rates will do in 2024. About them it can truly be said that...
S&P 500 once again on track for record close. Is a stock-market breakout near?
The S&P 500 on Friday was once again trading above its last record close notched over two years ago, setting its new intraday record high after wobbling in a narrow trading range for almost a month. The large-cap benchmark S&P 500 index traded as high as...
The 3 biggest myths about AI use in hiring, according to an expert
Even before the meteoric rise of artificial intelligence over the past year, AI had been playing part in the hiring process for years. But there are plenty of misconceptions about how exactly AI has been used in hiring — and about what the future holds. In recent...
Space stocks slide, led by Virgin Galactic
Space stocks are sliding Friday, led by Virgin Galactic Holdings Inc., which is down 5.4%. The space tourism company is on pace to extend its losing streak to two days and register its biggest single-day percentage decline since Tuesday, when it fell 7.6%. Virgin...
Slowing EV sales sent lithium prices down almost 40% last year. What’s next.
Not long ago, lithium prices were skyrocketing on fears of a supply shortfall, as growth in the electric-vehicle market lifted demand for the metal used in lithium-ion rechargeable batteries. The tables have turned. The average annual price for battery-grade lithium...
Pimco sees upside in mortgages as Fed considers its balance sheet
Bond giant Pimco sees upside in the estimated $9 trillion agency mortgage-bond market as the Federal Reserve begins thinking about when to stop shrinking its balance sheet. Mike Cudzil, a fixed-income portfolio manager at Pimco, expects a more favorable backdrop for...
Apple’s Vision Pro headset is selling out — but what does that really mean?
Does Apple Inc. have its next blowout product on its hands? You might think so, based on early order trends for the $3,499 Vision Pro headset. Apple AAPL, +0.38% opened up online preorders for the mixed-reality device earlier Friday, and they seem to be flying off...
Saving Social Security: Presidential candidates are missing the point
A press release has come across my desk, warning me that Nikki Haley is “coming after Social Security and Medicare.” The Republican presidential candidate has “made it clear again and again that she supports gutting Social Security and Medicare.” Haley has proposed...
Tricon’s stock rallies 28% on $3.5 billion buyout deal by Blackstone
Tricon Residential Inc.’s stock jumped 28% on Friday after Blackstone Inc. said it would buy the Canadian real-estate-investment company and take it private for $3.5 billion. Tricon Residential Inc.’s NYSE-listed stock TCN, +27.98% TCN, +27.64% was up by $2.46, to...
Home sales sink to a 29-year low in 2023
The numbers: Home sales fell in December to the lowest level in more than a decade as demand continued to exceed the supply of listings for sale, pushing prices up to close out the year. Sales activity on a monthly basis was at the lowest level since August 2010....
Kaman going private at 105% premium in deal valued at $1.8B
Kaman Corp.’s stock doubled Friday after it agreed to be taken private by Arcline Investment Management in a deal valued at $1.8 billion. Kaman, based in Bloomfield, Conn., said it agreed to a price of $46 per share, a 105% premium over its closing share price on...
Goolsbee says it’s too soon to determine when Fed will cut interest rates
Chicago Federal Reserve President Austan Goolsbee on Friday declined to say when he thinks the central bank will cut interest rates, but he said reductions could be expected this year “if we continue to make surprising progress on inflation.” “We don’t want to commit...
Wayfair is laying off 1,650 workers, weeks after CEO urged staff to work harder
Wayfair Inc. shares rose 15.6% in premarket trades Friday after the home-goods retailer announced a workforce reduction involving approximately 1,650 employees. The cuts represent approximately 13% of the company’s global workforce and approximately 19% of its...
Travelers’ stock leaps toward a record as lower catastrophe losses boost profit
Shares of Travelers Companies Inc. surged into record territory Friday, after the property casualty insurer said lower catastrophe losses and higher underwriting gains helped produce record profits. Catastrophes costs, net of insurance, improved to $125 million from...
Spirit Airlines’ stock rebounds on bullish guidance
Spirit Airlines Inc.’s stock was rallying in premarket trading on Friday as the carrier said its bookings over the holidays were strong and that it’ll likely match or slightly beat Wall Street’s fourth-quarter revenue estimate. Addressing doubts about its balance...
Treasury yields back away from highs as more economic data awaits
Treasury yields were holding steady on Friday, with longer-term notes backing away from recent highs ahead of a consumer confidence report and home sales data.What happened The yield on the 2-year Treasury BX:TMUBMUSD02Y rose less than a basis point to 4.364%, after...
Opinion: How government meddling could end a golden age for life-changing new drugs
We’re in a golden age of medical discovery. Consider just a handful of new treatments approved in 2023: Perhaps the most revolutionary is a therapy for sickle-cell disease, an inherited blood disorder that causes extreme pain. The treatment is the first approved...
I want my son to inherit my $1.2 million house. Should I leave it to my second husband in my will? He promised to pass it on.
My husband and I signed a prenuptial agreement before we married. This is my second marriage, his first. He has no children. I have one child who was an adult when we married so there was no need for my current husband to adopt him. My husband and I live in a home...
My brother lives in our parents’ home, which we’ll inherit 50/50. I want to keep it in the family for my children. How do I protect my interests?
Dear Quentin, Per our parents’ will, my brother and I will split their inheritance 50/50. This includes the family house. I would like to keep the house in the family for my children, as I bought my current home nearby to be able to care for my parents as they aged. ...
Interest rates are still high. Why doesn’t anyone want to commit to a CD?
Financial adviser Jeremy Keil has become an expert in chasing yield over the past two years – first Series I bonds, then Treasury bills and other fixed-income products. In the past year, he proudly got his clients to move more than $10 million in cash from big banks...
Biden administration to cancel $4.9 billion in student debt for 74,000 borrowers
Roughly 74,000 student loan borrowers will receive $4.9 billion in debt cancellation, the Biden administration announced Friday. The borrowers who are part of this announcement have either been in repayment on their loans for at least 20 years or are public servants...
U.S. stock futures edge higher, with tech set to lead again
U.S. stock futures were pointing higher on Friday, with the S&P 500 eyeing fresh highs and technology stocks seen in the driver’s seat. Consumer sentiment and housing data are due later.How are stock-index futures trading? S&P 500 futures ES00 rose 15.25...
Shares of iRobot plunge 40% on report EU will block purchase by Amazon
Shares of iRobot Corp. plummeted after hours on Thursday after the Wall Street Journal reported that the European Union plans to block Amazon.com Inc.’s purchase of the Roomba maker. The Journal, citing people familiar with the matter, said officials at the EU’s...
Macy’s to lay off 13% of corporate staff, close 5 stores as retail looks to tech
Department-store chain Macy’s Inc. plans to cut 2,350 jobs and close five stores, the Wall Street Journal reported on Thursday, as the company tries to curb expenses, embrace more technology and meet the demands of what it said was “an everchanging consumer and...
Costco is the latest company to crack down on freeloaders. Here’s why.
Is the freeloading era finally coming to a close? That’s what some are asking in light of the news that Costco COST is implementing policies that will make it harder for nonmembers to shop using someone else’s membership card. That follows efforts by streaming...
‘Every step we take closer to very powerful AI, everybody’s character gets plus 10 crazy points.’ Sam Altman on OpenAI turmoil.
““Every step we take closer to very powerful AI, everybody’s character gets plus 10 crazy points”” — OpenAI CEO Sam Altman This is what Sam Altman had to say about the stresses of working with artificial intelligence as he revealed his own thoughts on the dramatic...
Mark Zuckerberg has almost taken Meta back to trillion-dollar market-cap status
Meta Platforms Inc. is closing in on trillion-dollar market-cap territory once again in an impressive rebound for Chief Executive Mark Zuckerberg. The Facebook parent company META, +1.90% is just $42 billion away from attaining a $1 trillion valuation for the first...
Spirit Airlines’ odds look shaky after judge blocks JetBlue merger, Fitch says
With more observers bracing for a future where JetBlue Airways Corp. and Spirit Airlines Inc. each have to go it alone, Fitch analysts became the latest to cast doubt on Spirit’s prospects as a standalone airline, saying the ultralow-cost carrier faces “serious...
Spirit Airlines, weighed down by debt, is unlikely to find new suitors
A new bid for Spirit Airlines Inc. is unlikely to materialize, as the struggling ultralow-cost airline is saddled with debt. Spirit’s SAVE, -24.92% net debt has ballooned to $5.5 billion from $3.3 billion in the past two years. The company is also staring down more...
Fisker has ‘arguably become a meme stock’ says StockTwits
Fisker Inc.’s stock, which fell toward another record low on Thursday, “has arguably become a ‘meme stock’,” according to Tom Bruni, lead writer of the Daily Rip & Markets newsletter at StockTwits, a social platform for investors and traders. “Fisker fostered a...
These Americans are struggling to pay their bills on time, New York Fed says
Low-income borrowers are increasingly missing payments on their auto loans and credit cards, and missed the boat on ultra-low mortgage rates, according to a new report from the Federal Reserve Bank of New York. The New York Fed used anonymized Equifax EFX, -0.64%...
Looking for a $1 million beach house with room for guests? Good luck.
We are new empty nesters in our mid-50s and are ready to retire. Where can we buy a move-in-ready beach house with room for guests, in Hawaii or someplace similar, for $1 million or less? Dear Empty Nesters, Congratulations on this new era of your life as empty...
Government shutdown: Senate to act Thursday on fix that would extend funding into March
The U.S. Senate is set to vote Thursday on funding the federal government through early March, in a bid to avoid a partial shutdown that would begin Saturday morning. The bill would fund some departments — including Agriculture, Transportation and Energy — through...
Opinion: Of all the copyright suits against AI companies, this could be the game-changer
Close to a dozen copyright infringement cases were filed against several AI companies in 2023, but one lawsuit in particular could have the widest implications. Since OpenAI’s release in late 2022 of ChatGPT-3.5, a chat bot that responds to any random question with...
Jobless claims fall under 200,000 to lowest level in 16 months, but it’s not as good as it looks
The numbers: The number of Americans who applied for unemployment benefits in mid-January fell to a 16-month low of 187,000, but it’s not a sign of the labor market or broader U.S. economy getting any stronger. Initial jobless claims slid by 16,000 in the seven days...
Looking for healthy food? Add mashed potatoes, pasta and pizza to the list.
You’ve already heard that fruits, vegetables, nuts and beans are good for you. But apparently you can also add bread, pasta and mashed potatoes — along with some baked goods and even pizza — to that list. So says a new medical study led by researchers at Tufts...
After ‘two years of regular gut punches,’ there’s good news on credit-card APRs
Credit-card holders with whiplash from two years of fast-climbing interest rates and fast-growing balances just got a little bit of good news. The average interest rate on new credit-card offers remained unchanged from December to January, according to one measurement...
Dow Jones struggles as stocks attempt bounce; Nasdaq lifted by TSMC results
U.S. stocks were mostly higher Thursday, with the Nasdaq leading the way after upbeat results from Taiwan Semiconductor Manufacturing Company lifted chip makers.What’s happening The Dow Jones Industrial Average DJIA fell 102 points, or 0.3%, to 37,164. The S&P 500...
Apple’s stock could soar nearly 25%, BofA says, going against tide of skepticism
Apple Inc. hasn’t exactly been feeling the love from Wall Street so far this year, but perhaps the tide is turning. BofA Securities analyst Wamsi Mohan weighed in with a newly upbeat view of Apple’s stock AAPL, -0.52% Thursday, upgrading it to buy from neutral amid...
Why this money manager is betting bonds over stocks this year
Out of eleven sessions so far this year, the S&P 500 SPX has managed to close higher in three (and one just barely). But of course, the year is young. As for the bond market, the last two years haven’t been amazing for investors, but some are predicting 2024 to be...
Humana stock tumbles as Medicare Advantage growth disappoints
Humana Inc. shares HUM, +2.04% dropped 14% premarket on Thursday after the giant health insurer slashed its full-year 2023 earnings guidance and flagged rising medical costs and slower than expected 2024 Medicare Advantage enrollment growth. The company now expects to...
Oil prices steady as traders weigh demand worries, Middle East supply threats
Oil futures were little changed Thursday morning, struggling for direction as traders weighed the outlook for demand, as well as the threat to supply from strife in the Middle East.Price moves West Texas Intermediate crude for February delivery CL00, +0.10% CL.1,...
Watches of Switzerland stock falls by nearly a third after ‘volatile’ Christmas
Shares in Watches of Switzerland plunged by nearly a third on Thursday, after the luxury watch seller warned that sales would be lower than expected after U.K. shoppers eschewed expensive trinkets during the crucial festive season. “[C]hallenging macro-economic...
‘I can’t afford to keep paying for two households’: My adult sons live rent-free in my house, while I pay for 50% of utilities in my second husband’s condo
In 2007, my now ex-husband and I bought a home, where we lived as a family with our two boys for just a few years before we divorced in 2009. I refinanced the house in my name, and have paid the mortgage and utilities as a single parent ever since. In 2016, I met and...
Flutter Entertainment shares rally ahead of U.S. listing
Shares in Flutter Entertainment rallied in London on Thursday ahead of a planned U.S. stock-market listing, even as the FanDuel owner warned that a string of sporting results in customers’ favor will result in lower-than-planned revenue. Flutter Entertainment shares...
Treasury yields dip ahead of jobless claims and housing data
Bond yields fell on Thursday as the recalibration of expected Federal Reserve interest rate cuts continued to be the main focus for traders.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y dropped 3.4 basis points to 4.329%. The yield on the 10-year...
Take these steps to tackle a pile of medical bills
You’ve got your health back after a medical problem and are feeling fine. Now it is time to tackle those medical bills. Here are some important steps to take — and common mistakes to avoid.1. Determine how much you can afford to pay. Before you pay a single bill, take...
The 2024 Dodge Durango: The muscle SUV has a range of engines and macho looks
Rugged and brimming with performance, the 2024 Dodge Durango is a midsize 3-row SUV with superlative towing, distinctive looks, and an armory of powerful V8 engines. Pricing starts at $40,420. Where most midsize SUV rivals — and there are a lot of midsize SUVs — seem...
Richemont shares surge following boom in Cartier owner’s sales to China
Swiss watch seller Compagnie Financière Richemont on Thursday reported a sharp uptick in its revenues in the final three months of 2023, driven by surging jewelry sales in China and Japan which offset a drop in sales in Europe. The luxury goods conglomerate, which...
Opinion: These cannabis stocks and ETFs stand to benefit if marijuana laws are reformed
Cannabis stocks advanced sharply to start the week, after the nation’s leading health agency recommended sweeping changes to federal marijuana laws. Still, it’s up in the air whether the proposed changes will ultimately help cannabis companies and investors any time...
Music publication Pitchfork is being merged with GQ magazine by Conde Nast
The iconoclastic online music publication Pitchfork, best known for its daily music criticism and its multiday festivals in Chicago and Paris, is being folded into the glossy monthly GQ, parent company Condé Nast announced Wednesday. Founded by a Minneapolis-area...
Can AI and a supercomputer beat markets? This hedge fund is trying to find out.
In a downtown Toronto skyscraper one block away from the Hockey Hall of Fame, a small hedge fund is hoping it has found an edge in financial markets. Castle Ridge Asset Management is betting on Wallace, a purpose-built supercomputer behind the hedge fund’s trading...
Chip maker TSMC posts 19% fall in net profit, but edges pasts forecasts
Taiwan-based chip maker Taiwan Semiconductor Manufacturing Co. Ltd. on Thursday reported a 19.3% fall in net profit, but still managed to beat expectations amid hopes a global chip slowdown is easing. TSMC 2330, +1.20% TSM, +1.26% reported net income of new Taiwan...
Fisker loses its biggest bull as EV maker’s stock breaks the buck
Shares of Fisker Inc. extended their losses below $1 after the electric-vehicle maker lost its most bullish analyst, who cited the company’s continued accumulation of “unanticipated growing pains” for his loss of faith. “While we still believe Fisker has the potential...
Fed’s Beige Book finds signs of cooling labor market across most of the country
There were signs that the labor market was cooling in nearly all regions of the country, according to a Federal Reserve survey released Wednesday. The survey, known as the Beige Book, is a collection of anecdotes from business contacts collected before Jan. 8. The...
Opinion: The betting on the ‘AI PC’ race is ignoring the true AI leader: Nvidia
“Nvidia has history on its side.” You couldn’t take 10 steps at CES, the annual Consumer Electronics Show in Las Vegas, without hearing about AI. All the key players in the AI PC race were present last week in force, including Intel INTC, -2.65%, AMD AMD, -0.93%,...
Why the economy’s health right now isn’t as grim as you might think
Economic risk is merely average right now. I point this out to counter the many stock market analysts who have warned in their 2024 forecasts that the U.S. economy’s current risk level must be at or near a record high. And many of you are convinced they’re right. The...
Congress could boost child tax credit — here’s what it would mean for your taxes
But if families are expecting anything like 2021’s temporary turbo charge to the child tax credit, they should think again. The pandemic-era overhaul to the child tax credit paid up to $3,600 for kids under age 6, and $3,000 for kids age 6 to 17 and distributed half...
Manchester United shares slide as Champions League exit hits revenue guidance
Manchester United shares fell Wednesday after the iconic English soccer club lowered its 2024 revenue guidance, citing the club’s early exit from the Champions League and the related impact on broadcasting revenues. The club exited the Champions League at the group...
Jamie Dimon says ‘it’s a mistake to assume everything is hunky-dory’
“‘I think it’s a mistake to assume that everything is hunky-dory.’” — JPMorgan Chase Chief Executive Jamie Dimon at Davos JPMorgan Chase & Co. Chief Executive Jamie Dimon said Wednesday he remains cautious in the face of “powerful forces” ranging from war to...
Nio’s stock tanks toward a record-tying loss streak as Tesla price cuts weigh
Shares of Nio Inc. on Wednesday dove to its lowest prices seen in nearly four years, as investors in the China-based electric-vehicle maker continued to express concerns over price cuts by Tesla Inc. and a weakening economy. The fresh lows for Nio’s stock NIO, -2.82%...
Here’s why the 2024 U.S. elections look like a referendum on EVs
As Donald Trump made his victory speech after Iowa’s caucuses, the front-runner in the 2024 Republican presidential primary couldn’t resist taking a shot at electric vehicles while praising a supporter from Missouri.That supporter “comes all the way from Missouri,...
‘I’m still renting’ — Emmy winner Ayo Edebiri on how she stays humble.
“‘I’m still renting’” That was actress Ayo Edebiri answering how she stays humble after winning a Golden Globe, a Critics’ Choice award and now an Emmy award for her work on the TV show “The Bear.” Edebiri’s comments at the Emmy Awards on Monday night seem to refer to...
U.S. industrial output ticks up in December on higher auto production
The numbers: Industrial production rose 0.1% in December, the Federal Reserve reported Wednesday. The gain was above a 0.1% decline, according to a survey by The Wall Street Journal. Capacity utilization held steady at 78.6%, in line with expectations. The capacity...
BlackRock’s $12.5B acquisition of Global Infrastructure Partners wins praise
BlackRock Inc.’s plan to buy major private-equity firm Global Infrastructure Partners for $12.5 billion will help the asset-management giant’s stock reach the $1,000 mark, TD Cowen analyst Bill Katz said in a fresh upgrade of the stock. Katz said Tuesday he sees a...
Bill Ackman is currently waging five battles simultaneously
BIll Ackman has never met a fight he shied away from. He’s just usually kept them focused on Wall Street. Now, the billionaire hedge-fund manager behind Pershing Square Capital Management has recreated himself as a kind of public advocate, waging wars against...
Your employer can match your emergency savings, but it’s not likely to happen soon
The new year brought a lot of changes to retirement plans thanks to the Secure 2.0 laws, but the implementation of emergency-savings provisions is moving at a glacial pace. “There’s still a lot of uncertainty,” says David Amendola, senior director of retirement at...
Retail sales jump in December to cap off holiday shopping season
The numbers: Sales at U.S. retailers jumped 0.6% in December to cap off a reasonably robust holiday shopping season, suggesting the economy still has the power to expand. Economists polled by The Wall Street Journal had forecast a 0.4% increase. Taken together, sales...
AI developments will lead to evolution not revolution, UBS chief says
UBS chief Sergio Ermotti has warned against over-enthusiastic predictions about the pace at which the world is likely to be changed by developments in artificial intelligence, despite acknowledging the technology will likely change the world faster than any rival...
Opinion: How employers can help women be less burned out at work and less likely to leave
“I’d never tell my manager that I’m miserable, burning out, feeling undervalued and exploring options outside the firm. I’d look like I can’t handle it. I’m eager to move up and make a difference. Am I doing something wrong?”This sentiment is often heard early in...
I make $120,000 a year — can I afford a $500,000 home in Florida?
I’m a single man in Florida, living at my parents’ house and I want to buy my first home soon to avoid being completely priced out of homes, as prices keep going up.I’ve found a four-bedroom home for $517,000, and the builder will cover closing costs so I have about...
Apple and Tesla may no longer be ‘safe investments’ as China’s troubles grow
Another tough day for Wall Street is in the making, after China growth numbers disappointed, hitting oil and a bunch of U.S.-listed Chinese stocks.That brings us to our call of the day, where market observers say China-related trouble continues to build for Tesla...
‘If you stand still, you’ll go crazy’: The case for unretirement
It’s been two years since I left my full-time job, at age 65, as managing editor of Next Avenue (the PBS site for people 50+), and embarked on unretirement. I wanted to share a few thoughts about life in unretirement for people thinking about doing it or who are in...
Treasurys near five-week highs as central bankers push back on rate-cut bets
Government bond yields were trading near their highest of the year after U.K. inflation picked up speed and central bank officials continued to try and damp optimism about interest rate cuts. What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y rose by 5.5...
Tesla cuts prices in Germany after reductions in China, report says
Tesla cut the prices of its Model Y in Germany, just a week after cutting prices in China, according to a report. Reuters reported that Tesla TSLA, +0.47% has cut one Model Y vehicle by 9% and another by 8.1%. Tesla has been overtaken by Volkswagen VOW3, -1.94% as the...
Overdraft fees could shrink as low as $3 under proposed consumer-protection rule
Regulators are moving to crack down on overdraft fees. The Consumer Financial Protection Bureau proposed a rule on Wednesday that would require financial institutions to offer more disclosures about overdraft fees and potentially limit the charges to as little as $3....
Warren Buffett’s Berkshire Hathaway takes full ownership of Pilot Travel Centers
Warren Buffett’s Berkshire Hathaway Inc. on Tuesday said it had taken full ownership of truck-stop operator Pilot Travel Centers from the Haslam family — the owners of the NFL’s Cleveland Browns — following a settlement agreement between the sides earlier this month....
No rates cuts in 2024? Why investors should think about the ‘unthinkable’
One major Wall Street bank is weighing in on what it calls “an extreme scenario” in which no Group of 10 central bank cuts interest rates this year due to sticky inflation, strong economic growth or fresh shocks that push price gains higher.In a note on Tuesday,...
Lagarde, with a caveat, says ECB will likely cut interest rates this summer
It was toward the end of an interview European Central Bank President Christine Lagarde gave in Davos, a clear sign she wasn’t setting out to deliver this message. And she said it in a roundabout way. But, Lagarde appeared to cement expectations that the ECB will cut...
U.K. inflation unexpectedly rose in December to 4%
U.K. consumer prices accelerated unexpectedly in December, driven by new taxes on tobacco products, and likely pushing out calls for rate cuts at the Bank of England. The consumer price index–which measures a wide basket of goods and services prices–rose 4.0% on year,...
Original meme stock GameStop on pace for biggest decline in over a month
Shares of video game retailer and original meme stock GameStop Corp. are on pace to register their biggest daily percentage decline since early December. GameStop’s GME, -5.08% stock is down 5.5% Tuesday, putting it on track for its biggest decline since Dec. 5, 2023,...
This company makes over $10 million a year selling old-school candy
Fans of old-school sweets got some disappointing news last week: Fruit Stripe gum, a brand with a history that stretches back half a century, is no longer. Now comes the real question: When can we expect it to be revived? There’s a retro fervor sweeping the candy...
This stock fund manager outperforms with ‘fixer-uppers’
Small-cap stocks can help investors diversify from the S&P 500, which is heavily weighted to the largest U.S. tech players. Investors may imagine small-caps as up-and-coming companies focused on increasing their sales and taking market share from rivals, or ones...
Fed’s Christopher Waller sees interest-rate cuts in 2024
The Federal Reserve is likely to be able to cut interest rates this year, but there is no need for policy to be “rushed,” Fed governor Christopher Waller said Tuesday. “When the time is right to begin lowering rates, I believe [the rate] can and should be lowered...
Take that, Wall Street! Pariah Capital wins again — and the picks for 2024
Drum roll, please.For the past three years, around this time, I’ve been telling you what the world’s top fund managers own and what investments they are shunning. Each time, I’ve offered the rogue thought that a portfolio consisting entirely of the latter—the stuff...
How to prepare your finances for a layoff, illness, loss or other crisis
The unexpected death of a partner. A sudden layoff from a longtime job. A serious illness or accident. These life events can throw your finances in disarray as you cope with a big decline in income. Routine monthly bills including auto loans and mortgages may be...
Consumers are paying closer attention to their debt, New York Fed survey shows
U.S. consumers may be growing a bit more uneasy about their debts. That’s according to a report released Tuesday by the Federal Reserve Bank of New York, which looked at Americans’ recent spending habits and how much they plan to spend in the near future. The survey...
Green Thumb, Trulieve, other cannabis stocks up on details of recommendation to lower drug classification
The release of documents that support a recommendation by the U.S. Department of Health and Human Services to lower the classification of cannabis under federal law to Schedule III from Schedule I ignited a rally in cannabis stocks on Tuesday. Curaleaf Holdings Inc. ...
Boeing’s stock enters bear market as FAA probe opens ‘a whole new can of worms’
Shares of Boeing Co. kept falling Tuesday, enough to enter “bear-market” territory, after a downgrade by Wells Fargo, which said there’s a good chance the Federal Aviation Administration’s investigation won’t be “clean.” The FAA’s probe “increases significantly” the...
My husband and I are in our 50s. Large-cap ETFs seem expensive. Does it make sense to add them to our retirement accounts?
My husband, 58, and I, 53, have reached our highest-earning years. We have refinanced to a 2.75% mortgage with a very low monthly mortgage payment of $485. We have been maxing my husband’s 403(b) and now his 457 (he recently changed jobs), maxing both of our Roth IRAs...
U.S. women’s health ranks on par with Kazakhstan, research finds
The U.S. fell seven places in an annual global ranking of women’s health, landing at 30th place alongside Kazakhstan and Mauritius. The health index, created by women’s health innovation company Hologic Inc. HOLX, -0.43% in partnership with Gallup, found that the...
PayPal’s stock has reached an unglamorous milestone
For the first time, the majority of Wall Street analysts covering PayPal Holdings Inc. shares are feeling skeptical. Mizuho’s Dan Dolev downgraded PayPal’s stock PYPL, -2.98% to neutral from buy Tuesday, bringing the number of analysts with hold-equivalent ratings to...
SEC fines JPM Morgan Chase for whistle-blowing violation charge
JPMorgan Chase & Co. has agreed to pay an $18 million fine without admitting or denying charges by the U.S. Securities and Exchange Commission that it violated whistleblower protection rules with its confidentiality agreements during a three-year period. The SEC...
S&P 500 futures narrow early Tuesday loses as traders eye bank earnings
U.S. stock index futures are trimming early Tuesday loses as traders comb through more big bank financials with earnings reporting season coming into full swing. How are stock-index futures trading S&P 500 futures ES00, -0.38% fell 13 points, or 0.2%, to 4803 Dow...
New York Fed’s Empire State index plunges in January to lowest level since pandemic
The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, plunged 29.2 points in January to negative 43.7, the regional Fed bank said Tuesday. This is the lowest level since the depth of the pandemic in...
Like their Fed peers, ECB officials challenge the market’s rate-cut optimism
European Central Bank officials have been mostly matching their U.S. peers in pushing back against investors’ optimism that interest rates will be cut swiftly in coming months. The ECB is widely expected to leave its deposit rate at a record high of 4% after its...
Oil prices rise as Middle East tensions continue
Oil futures rose Tuesday as U.S. traders returned from a three-day weekend, monitoring continued tensions in the Middle East that has disrupted tanker traffic and poses a threat to crude supplies from the region.Price action West Texas Intermediate crude CL00, +0.54%...
Opinion: How to help American families afford child care? Give parents money directly
“If many mothers value being at home more than a paycheck, then we should reconsider the benefits of pushing them into the workforce with bigger child-care subsidies.” Last September, COVID-era federal subsidies to child-care providers ended. Despite...
Another Wall Street bank has boosted its S&P 500 target. Here’s why.
The return from a long holiday weekend is set to be a frosty one for investors, and not just that dangerous cold. Stock futures are dropping as bond yield rise, echoing Monday’s action in Europe after some hawkish regional policymaker talk. Meanwhile, former President...
Elon Musk says wants more control over Tesla
The world’s richest person said he doesn’t have enough control over the company where he’s chief executive and the leading shareholder. Elon Musk said he doesn’t want to grow Tesla’s TSLA, -3.67% artificial intelligence and robotics capability without having control...
Ten-year Treasury tops 4% as central banks try to cool rate-cut optimism
Bond yields rose early Tuesday after more central bank officials indicated markets were getting too optimistic about the pace of interest rate cuts in 2024.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y added 7.5 basis points to 4.211%. Yields move...
China reportedly imposes fresh limits on investors’ abilities to sell shares
Chinese market regulators have told some institutional investors to stop selling shares listed on the Shanghai and Shenzhen stock exchanges in a bid to reverse a recent downturn, according to a report. Authorities in China have issued private instructions — called...
Honda shows off EV concepts for ’26: A low-slug wedge sedan and a futuristic van
Honda thinks today’s electric vehicles are overbuilt. The company dreams of a future of simpler, lighter EVs. “The mobility we dream of is not an extension of the trend of ‘thick, heavy, but smart’ EVs,” says CEO Toshihiro Mibe. Instead, Mibe wants “a completely new...
Trump projected as winner in Iowa, but outcome in fight for 2nd still unclear
Donald Trump was projected as the runaway winner in Iowa’s Republican presidential caucuses on Monday night, while Florida Gov. Ron DeSantis was projected as coming in second place. Nikki Haley, a former ambassador to the U.N. and governor of South Carolina, was on...
Why Donald Trump is unlikely to get his wish for a 2024 U.S. stock-market crash
Donald Trump is unlikely to get his wish that a U.S. stock-market crash occurs this year. I’m referring to the former U.S. president’s comments last week that he hopes the market crashes in 2024, since if he is elected in November and takes office a year from now, he...
DeBeers cuts diamond prices by 10% to shore up weak sales: report
The world’s biggest diamond producer reportedly slashed prices at its first sale of the year, in a bid to stimulate a flagging market. DeBeers, majority owned by Anglo American AAL, -1.85%, reduced prices by 10% at its first sale of diamonds, Bloomberg reported on...
‘The squeeze is on.’ Uranium prices hit new record and industry watchers see further to go
While stocks dither in the new year, a dramatic rally has been under way in one corner of the commodity market that industry watchers expect to just keep going. The spot price for uranium, vital for fueling nuclear reactors, climbed to just over $103/pound on Monday,...
Lack of financial literacy hurts the young. What about older people?
We often hear how teens and young adults lack financial literacy. They may not understand investment concepts such as the power of compounding or the importance of diversification. With age comes wisdom, right? Not necessarily. Many older people — from mid-career...
Baidu denies Chinese military link after report sent stock tumbling
Baidu on Monday said it had no links to a Chinese military lab, after a report sent stock in the internet services company tumbling. Baidu shares 9888, -11.53% in Hong Kong slumped 12% after the South China Morning Post reported on a research laboratory with the...
Goldman Sachs offers 10 reasons why it’s more confident about the U.S. economy
Goldman Sachs thinks the U.S. economy will be growing by more than double market consensus at the end of 2024, and has a list of 10 reasons why it is more optimistic than most. In a note published over the weekend, a Goldman economics team led by Jan Hatzius said they...
Iowa GOP caucuses: Haley now 2nd in latest polls, and here’s key level for Trump
Republican voters in Iowa are getting their customary moment in the spotlight right now, as they’re due to convene their first-in-the-nation caucuses at 8 p.m. Eastern Monday, kicking off the 2024 GOP presidential race.But it’s not looking like much of a contest, as...
Nikkei mints new 33-year-high as exchange highlights companies taking action
The Nikkei 225 on Monday rallied to yet another 33-year high, advancing amid the Tokyo Stock Exchange publishing a list of companies that have taken actions to bolster their share price. The Nikkei 225 JP:NIK gained 0.9% to 35,901.79, stretching year-to-date gains to...
Biden campaign says it raised $97 million in fourth quarter
The campaign to re-elect President Joe Biden said on Monday it has raised $97 million in the fourth quarter and claimed the highest war chest of any Democratic presidential candidate in history. According to Reuters, the $97 million raised was only topped by the $154...
Three-quarters of chief economists expect ‘weak’ or ‘very weak’ growth in Europe this year, Davos poll finds
A poll conducted of chief economists found three-quarters expecting weak to very weak growth in Europe this year, the most pessimistic outlook of any region. The chief economist survey, released in conjunction with the World Economic Forum in Davos but conducted in...
Billionaires like Jeff Bezos, Elon Musk and Larry Ellison are $1.6 trillion richer since the pandemic — fueling an ‘inequality crisis,’ Oxfam says
The rich only got richer during the pandemic, according to a new report — in fact, the five wealthiest people in the world saw their net worth rise by $869 billion.Oxfam released its report Sunday, a day before business elites were set to gather at the World Economic...
What’s next for stocks as ‘tired’ market stalls in 2024 ahead of retail sales
U.S. stocks are struggling to advance in early 2024, as investors digest the start of company earnings reports kicked off by Wall Street banks and eye inflation ahead of a closely-watched retail sales report.“The stock and bond markets are marking time,” said Yardeni...
Jamie Dimon says the economy is ‘resilient.’ How do other banks feel about that?
When JPMorgan Chase & Co. JPM, -0.73% reported fourth-quarter results on Friday, Chief Executive Jamie Dimon said the U.S. economy was “resilient,” with management saying a soft landing was likely. Executives at Bank of America Corp. also said they expected a soft...
Opinion: America and democracy are on the ballot as billions worldwide vote in 2024
Voters in some 40 countries, including eight of the 10 most populous, will hold elections this year. The stakes have never been higher. Countries holding national elections in 2024 include India, the world’s biggest country, Indonesia, the largest Muslim country, as...
Some student-loan borrowers who have paid for 10 years will have debt canceled
Student-loan borrowers who took out relatively small amounts to attend college and have been paying their debt for at least 10 years could have their loans forgiven as soon as February — as long as they’re on the Biden administration’s new repayment plan, officials...
Is buying a used Tesla from Hertz a good deal? Here’s what to know.
Hertz Global Holdings Inc. HTZ, -6.82% said Thursday it is selling about 20,000 electric vehicles from its fleet, including many Tesla Model S sedans. The move is aimed at better balancing supply and expected demand for EVs, allowing Hertz to scrap a disproportionate...
Opinion: ‘Dr. Doom’ Nouriel Roubini: ‘Worst-case scenarios appear to be the least likely.’ For now.
Around this time a year ago, about 85% of economists and market analysts — including me — expected that the U.S. and global economy would suffer a recession. Falling but still-sticky inflation suggested that monetary policy would grow tighter before rapidly easing...
We live in a house provided by my husband’s job. Do we save — or a buy a home?
My spouse and I are in our 50s and live in very nice housing provided by his job. We were late to saving as we both worked for nonprofits and teaching jobs for many years, and have two special-needs children. We have no debt. We are now both making relatively decent...
My cousin left his estate to 6 cousins, but only one received his inheritance
I appreciate and learn from your column, and read it religiously. Several of your recent readers have asked you questions about wills or what happens when someone dies without a will. I would like to add my experience to the scenarios you have already addressed in...
Want to up your brain game? Here are some ways to fend off cognitive decline.
These days, my husband and I find ourselves relying on each other to finish each other’s sentences as we trip over words lodged in the dark recesses of our memory. The power of two is more likely to fill a stalled sentence’s void. Little interruptions can throw me off...
U.S. tightens sanctions on Yemen’s Houthi rebels behind Red Sea shipping attacks
The U.S. Treasury Department said Friday that it has expanded sanctions against a key-financier of Yemen’s Houthi rebel group to include a network of ships used to raise money. The move was the latest in an effort by the U.S. and its allies to stem a series of attacks...
Opinion: U.S. banks are gaining in Europe, and their stocks top European and U.K. rivals
It has now been more than 15 years since the white heat of the global financial crisis, when Lehman Brothers, Bear Stearns, and the Royal Bank of Scotland (among others) failed. At the time, big banks deserved the tidal wave of opprobrium that came their way, and they...
Opinion: Investors are losing faith in Japan’s economic leaders
Japan has had a difficult year so far. On January 1, as Japanese families gathered to celebrate the new year, a powerful earthquake shook the Noto peninsula, causing buildings to collapse and forcing mass evacuations. More than a week later, the death toll — already...
Opinion: These Big Tech stocks look to grab the biggest AI market share in 2024
It’s hard to imagine that the chip and technology sector could repeat the stunning year it had in 2023, but financial and technology analyst groups both are nearly universal in agreement that 2024 will be just that. Fueled by the need for more computing horsepower...
Once you retire, does self-discipline still matter?
At every stage of life, self-discipline breeds success. Disciplined students excel in school. Disciplined workers boost their productivity. Disciplined savers retire with more money. But once you retire, does discipline even matter anymore? You might figure you’ve...
9 in 10 homeowners have a mortgage below 6%. That’s hurting the housing market.
The vast majority of homeowners in the U.S. have a mortgage rate far below the prevailing rate, which will continue to discourage them from selling. Nationally, 88.5% of U.S. homeowners have a rate below 6%, Redfin RDFN, -3.78% said in a new report on Friday. The...
Lloyd Austin hid his cancer. What happens if you hide illness from your boss?
It might be easy enough to tell your boss that you’ve got the sniffles and need to take a couple sick days.But what should you share about a major surgery? Or a chronic illness? A cancer diagnosis? That can blur the line between a personal health battle and an...
Can we create Blue Zones in the U.S.? Yes, here’s how.
When Betsy Price was mayor of Fort Worth, Texas, she wanted to tackle childhood obesity and the health problems of the city’s 900,000 residents. To do that, she looked for answers in a blueprint for Blue Zones — the five regions of the world known for their longevity...
These toy makers are well-positioned to handle Red Sea and Panama Canal disruptions
The Houthi attacks on cargo ships in the Red Sea and the drought conditions impacting the Panama Canal have sparked concern about the impact on global supply chains. Last week, for example, British clothes seller Next PLC warned that the Houthi attacks could disrupt...
Mastercard’s stock upgrade backed by a high growth estimate, long-term success
On Wednesday, Oppenheimer & Co. analyst Dominick Gabriele upgraded Mastercard Inc. to an “outperform” rating with a 12-18 month price target of $510, which was 19% higher than the stock’s closing price of $428.27 that day. In a note to clients, Gabriele wrote that...
Opinion: Any of these 3 hot spots could derail the global economy in 2024
A year ago, we highlighted several trends that would define the world economy in the coming years. Briefly, they were trade and economic realignment, stagflation, and volatility and a likely slowdown in the tech sector. These remain relevant in 2024. But the year will...
Opinion: Beware the ‘January defect.’ Stocks are now in a bearish stretch.
The stock market, as measured by the S&P 500 Index SPX, began the new year with a sharp correction, but now it has climbed back to near all-time highs. A new 52-week intraday high was just registered this morning. If the the S&P 500 can clearly break out over...
Consumer spending and a key Fed speaker on markets’ radar this week
Two main things are on the mind of markets and economists this week. Will Federal Reserve officials throw cold water on market expectations for a March interest rate cut in their last speeches before going into a media blackout period on Friday before their next...
Saban-omics: How Nick Saban fueled the University of Alabama’s big-money rise
In the early 2000s, Robert Witt, then-president of the University of Alabama, gave the school’s admissions office clear instructions: Approach recruiting top academic prospects the same way you would top athletic prospects — and look out of state to find them. Various...
Dear Tax Guy: Can you help student-athletes navigate our income taxes — especially when we have endorsement deals?
Do you have information on helping student-athletes like me with filing taxes this year? Especially for those receiving money from their name image and likeness. Young athletes know the acronyms tied to their sport: NCAA, NBA, NHL, NFL, MLS and MLB. Put the IRS on...
Moving to Florida might not be the tax play it’s cracked up to be
Florida, Texas and Tennessee have become hot real-estate markets in recent years, in part because they offer the allure of low taxes and cheap living costs.But a new analysis of how much state and local taxes cost rich and poor residents in those states throws cold...
In Las Vegas, the ‘fun economy’ is where tourism, sports and entertainment meet
The sports world is coming to Las Vegas. And it’s not stopping. In the span of a few months, Sin City will have hosted Super Bowl LVIII (on Feb. 11), a Formula One race (on Nov. 18) and home dates for the defending champion Golden Knights of the NHL and Aces of the...
Why the launch of bitcoin ETFs threatens the market for gold
Gold has historically been an investor’s best friend when it comes to a store of value, but a certain digital currency is looking to elbow its way into the haven-asset mix with this week’s launch of spot bitcoin exchange-traded funds.“The relevance of gold GC00,...
A new world for bitcoin and exchange-traded funds
This week the Securities and Exchange Commission decided to allow the launching of 11 spot bitcoin exchange-traded funds, while also issuing a warning to investors that “investments in crypto asset securities can be exceptionally volatile and speculative.” In this...
Even Cloudflare’s CEO says that viral firing video is ‘painful’
A tech employee’s recording of the meeting firing her from a sales role at Cloudflare NET, -1.79% has spurred criticism of the company — and a broader conversation about the right way to let employees go. Viewers have called the roughly 10-minute TikTok video, which...
AMC’s stock extends losing streak to four days
Shares of AMC Entertainment Holdings Inc. ended Friday’s session down 3%, continuing the stock’s run of record lows and extending its losing streak to four days. The slide is AMC’s AMC, -2.98% longest since a five-day losing streak that ended Jan. 5. AMC’s stock,...
Kalen DeBoer takes over at Alabama: Did NIL play a role in Saban’s retirement?
University of Washington football coach Kalen DeBoer coach will replace Nick Saban as Alabama’s head coach after Saban abruptly retired with six years and $71.8 million remaining on his contract, according to ESPN.Saban, 72, is walking away from a Crimson Tide program...
SEC weighing ‘additional measures’ after hacked post on bitcoin ETF approval
The Securities and Exchange Commission on Friday said that a social-media post on X falsely stating that it had approved spot bitcoin exchange-traded funds was created after an “unauthorized party” obtained control over the phone number connected with the agency’s...
My friend discovered he has a daughter. Does she have a claim on his estate?
I have a question for you that is short and sweet. (Or maybe not so sweet.) My friend recently learned through DNA analysis via an online service that he had a daughter 60 years ago that he was unaware of. He also learned that the mother had put the child up for...
Do bitcoin ETFs have a place in retirement portfolios?
The SEC’s approval of bitcoin ETFs arguably is the occasion to sell, not buy. This is especially important for retirement investors to consider, since this week’s SEC decision will make bitcoin ETFs eligible for inclusion in 401(k)s and self-directed IRAs. Perhaps the...
Is the stock market open on MLK Day? Will the post office deliver mail?
On Monday, Americans will pay tribute to the late civil-rights leader Martin Luther King Jr. Martin Luther King Jr. Day commemorates the life and legacy of King, who was born on Jan. 15, 1929, and became a leading voice in the fight for racial justice. MLK Day, as the...
Wipro’s stock having best day in 16 years amid signs IT consulting has bottomed
Shares of Wipro Ltd. rocketed Friday, after the India-based information-technology consultant beat fiscal third-quarter profit expectations, to snap a streak of earning misses amid a jump in large deals, fueling hopes that a bottom in the IT business has been hit. “In...
Treasury curve is un-inverting for reasons unrelated to recession prospects
One of the bond market’s most widely followed gauges of impending U.S. recessions touched its least negative level in two months on Friday, after December’s producer prices data buttressed expectations for a continued drop in inflation. The 2-year yield BX:TMUBMUSD02Y...
What history says about first-of-a-kind ETFs as bitcoin products debut
Hello! This is MarketWatch reporter Isabel Wang bringing you this week’s ETF Wrap. The first-ever spot bitcoin ETFs started trading in the U.S. on Thursday in a landmark moment for Wall Street and beyond. In this week’s edition, we look back at some of the...
U.S. dollar index faces ‘death cross’: What’s next?
A closely watched gauge of the U.S. dollar’s performance against other major currencies was on track Friday to suffer a “death cross” on the daily price charts — an ominous sounding technical development that’s often seen as a confirmation of a negative change in...
Cathie Wood buys more Tesla stock on a dip and keeps on cutting her Coinbase stake
When it comes to Tesla Inc.’s stock, Cathie Wood seems to subscribe to the Wall Street strategy of buying on dips and selling on rallies. Wood’s flagship ARK Innovation exchange-traded fund ARKK bought 94,733 shares of the electric-vehicle giant on Thursday, which at...
Morgan Stanley hit with $249 million fine for block-trading fraud
Morgan Stanley’s pitch to sellers looking to unload big blocks of stock was that their block-trading unit was the best at preventing leaks that could drive share prices down. But federal prosecutors and the Securities and Exchange Commission now say it was all a lie,...
Disney’s stock has been stuck. Answering this question could get it going again.
Walt Disney Co.’s stock has been stuck in a rut lately, and investor sentiment is at “an all-time low,” according to MoffettNathanson analyst Michael Nathanson. And with the stock’s recent history, it’s easy to see why: Disney shares DIS, +1.11% have fallen 21% over...
Delta almost doubles Q4 profit, but shares slide on lowered earnings guidance
Delta Airlines Inc. reported a top- and bottom-line beat with its fourth-quarter results Friday, although the company’s stock was falling 7.8% Friday after Delta delivered lowered earnings guidance. Net income was $2.04 billion, or $3.16 a share, compared with $828...
In wake of SEC’s Twitter hack, here’s how to protect your own account on X
Recent hacks of high-profile accounts on X, formerly Twitter, are putting a spotlight on the social-media platform’s security — and serving as a reminder that every user should take steps to protect their own accounts. The Securities and Exchange Commission and even...
Citigroup posts loss in quarter but made progress with transformation
Citigroup Inc.’s stock was up by 1.9% in premarket trading on Friday after its profit excluding multiple one-time items beat analyst estimates. Chief Executive Jane Fraser said the quarter “was very disappointing due to the impact of notable items” but the bank made...
The top market for first-time home buyers is this Rochester, N.Y., suburb
The housing market is in an Empire State of mind this year, with another snowy city in upstate New York landing the top spot in a ranking of 2024’s top housing markets. To rank the best areas for first-time buyers, Realtor.com analyzed markets based on several...
My dad wants to take out a mortgage and has tried, unsuccessfully, to have Sallie Mae release him as cosigner on my $153,000 student loan. What can we do?
I thought it was a federal loan because I believe they did both types of loans. I started paying back the $153,000 interest-only loan in September 2022, while my dad paid towards the principal and the balance increased. They removed the interest-only repayments after...
IRS collects more than $500 million in back taxes from delinquent millionaires
Millionaires who were behind on their taxes have already paid half-a-billion dollars to get current with the IRS as the agency ratchets up high-level tax compliance. On Friday, the IRS unveiled new numbers on the amount of back taxes paid by millionaire households...
Bank of America’s stock slides 2% as earnings almost halve from a year ago
Bank of America Corp.’s stock BAC, -1.34% fell 2% early Friday, after the bank posted a steep decline in quarterly profit from a year ago and revenue that fell short of estimates. The Charlotte, N.C.-based bank posted net income of $3.1 billion, or 35 cents a share,...
UnitedHealth’s stock falls as medical costs top forecasts, but earnings beat
Shares of UnitedHealth Group Inc. slumped Friday, after the health insurer reported a jump in medical costs relative to revenue in the fourth quarter, but earnings that continued to beat forecasts. The medical care ratio, or the ratio of medical costs to premium...
Oil prices jump 4% after U.S. leads strikes against Yemen over Red Sea attacks
Oil prices jumped on Friday, after U.S. led air strikes against Houthi rebel targets in Yemen, in retaliation for persistent attacks on ships in the Red Sea, drove fresh jitters over potential supply disruption.Price moves West Texas Intermediate crude CL00, +4.29%...
Opinion: A $45 Stanley water bottle is everything that’s wrong with America right now
I don’t consider myself a deeply religious person. But lately I’ve been thinking of an 11th Commandment I’d like to inscribe in stone. In case you’ve missed the news, pricey water bottles are a thing. Specifically, pricey water bottles from Stanley, a brand that has a...
Key 10-year Treasury yield hovers below 4% ahead of PPI, bank earnings
The U.S. 10-year Treasury yield hovered just below 4% on Friday ahead of data on producer prices and results from the biggest U.S. banks.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y was 4.27%, up 1.2 basis points. Yields move in the opposite...
7 car insurance discounts you might be missing out on
Are you looking to save money on your car insurance? We’ll tell you about the best automobile insurance discounts so you can maximize all those available to your advantage. Buying car insurance can be expensive, depending on where you live, how much you drive, your...
Tesla reportedly cuts prices of two models in a tough China market where BYD rules
Tesla Inc. has reportedly reduced prices on two models in China, where it faces stiff competition from rivals such as BYD and is grappling with a continued difficult economic backdrop. Tesla TSLA, -2.87% cut starting prices on its Model 3 sedan by 5.9% and its Model Y...
My sister owns properties in Hawaii, yet refuses to make a will. If she dies, will our half-sibling inherit anything?
Dear Quentin, My sister owns several properties in Hawaii. She is not married and has no children. She is not interested in setting up a will or trust because she does not think that they are worth paying for. In the event that she should pass, she believes that...
My parents want to pay off my mortgage, and move into my rental. Is this risky?
Recently, my parents sold their condo to fulfill their long-standing desire to live in my downtown condo, offering them greater convenience for shopping, socializing with friends, and fostering a stronger connection to the community. My parents propose to use the...
Opinion: Amazon may scrap its iRobot deal, but there’s still hope for a tech M&A revival
The current scrutiny of anti-competitive business tactics by Amazon.com Inc. by both U.S. and European Commission regulators has put its pending acquisition of Roomba maker iRobot at risk, but there are hopes that tech M&A will come back this year nonetheless....
Future FinTech stock drops 17% after SEC charges CEO
Shares of Future FinTech Group FTFT, -3.07% fell after the Securities and Exchange Commission charged Shanchun Huang with allegedly inflating the company’s share price just before he took over as chief executive. The stock slipped 17% to $1.07 in after-hours trading...
Opinion: Biden administration’s antitrust victories are much-needed wins for consumers
“Americans like to think that they have the most dynamic economy the world has ever seen. The data refute such claims.” Competition is what makes markets work (when they do). But firms don’t like competition because it tends to drive down profits. For the typical...
Why the debut of Bitcoin ETFs could be bad news for crypto stocks, futures ETFs
The long-awaited debut of the first spot bitcoin exchange-traded funds in the U.S. is widely seen as a major boost to the crypto space at large. Still, that doesn’t mean the ETFs will benefit everyone — such as existing bitcoin-related products that could see their...
Why the $6 trillion pile of cash in money-market funds isn’t heading for stocks
Don’t count on the roughly $6 trillion wall of cash sitting in money-market funds to bolster the stock market, according to Joseph Kalish, chief global macro strategist at Ned Davis Research. Kalish thinks the popular argument that “cash on the sidelines” can be...
Opinion: Don’t bank on 2023’s bullish market trends making you money in 2024
Behavioral economists have popularized the term “recency bias” to describe our tendency to be disproportionately influenced by the latest events compared to earlier ones. Could this cognitive phenomenon explain why numerous analysts have a rather optimistic tilt for...
Smith Douglas Homes’ stock rises in debut as first initial public offering of 2024
Smith Douglas Homes Corp., in its stock market debut as the first initial public offering of 2024, started trading on the New York Stock Exchange on Thursday. The IPO from the home builder priced at the top of its $18-$21 range, in a sign of strength. Smith Douglas...
EV charging station provider ChargePoint laying off 12% of work force
ChargePoint Holdings Inc.’s stock dropped on Thursday after the company said it will cut 12% of its workforce in a move to cut costs by about $33 million a year. ChargePoint CHPT, -0.26% did not disclose the number of employees it was letting go. It said in its annual...
Lucid’s stock dives toward another record low after EV deliveries disappoint
Shares of Lucid Group Inc. fell deeper into record-low territory after the maker of luxury electric vehicles reported fourth-quarter deliveries that fell short of Wall Street expectations. The California-based company said it delivered 1,734 EVs during the fourth...
These small-cap managers’ stock picks crushed the indexes last year
If you’re looking to add some kick to your retirement portfolio, here are 12 investments that do not seem obviously worse than anything else: the Sprott Physical Silver PSLV and Gold PHYS trusts, Canadian food company Lassonde LAS.A, -0.24%, Hong Kong-based pork giant...
Congressional scrutiny of Harvard, elite colleges could cost them big dollars
Over the past few months, congressional scrutiny of elite colleges has helped to push out the top leadership at two major campuses. Now, lawmakers are undertaking efforts that could hit the schools more fundamentally –- in their wallets. In December, Republican...
AMC’s stock continues its slide, on pace to extend losing streak to three days
Shares of AMC Entertainment Holdings Inc. continued their slide Thursday, falling 5.1% and on pace to extend their losing streak to three days. AMC’s stock AMC, -4.73%, which is currently trading around $4.66, would also set another record-low close if its slide...
Taiwan’s elections: Here’s what investors should watch
This Saturday, Taiwan will head to the polls, in elections that will be closely watched by investors, due to the self-governing territory’s outsized role in the global economy as the biggest semiconductor manufacturer in the world. For voters, the choice between the...
Don’t leave a clueless trustee behind in your estate plan
While mourning the death of a family matriarch, many families experience the following scenario:In meeting with the family attorney, relatives get the unexpected news that one of them is now in a position to affect the financial futures of the others. And this...
Office Properties Income Trust’s stock drops sharply as it cuts dividend due to commercial-space woes
Office Properties Income Trust’s stock dropped sharply Thursday after the real-estate-investment trust said “deterioration in market conditions” is forcing it to slash its dividend to a fraction of its earlier level. Office Properties Income Trust’s stock OPI, +2.82%...
U..S. jobless claims inch drop to lowest level since October
Story developing. Stay tuned for updates here. The numbers: Initial jobless claims inched down by 1,000 to 202,000 in the week ended Jan. 6 , the Labor Department said Thursday. Economists polled by The Wall Street Journal had estimated new claims would rise to...
Hertz cites weak demand, high damage costs in decision to downsize EV fleet
Hertz Global Holdings Inc. said Thursday it is selling about 20,000 electric vehicles from its fleet, or about one-third of the total, and expects to book charges of about $245 million in the fourth quarter. The move is aimed at better balancing supply and expected...
Sunoco announces sale of 204 stores to 7-Eleven in $1 billion deal
Sunoco LP said Thursday it agreed to sell 204 convenience stores in West Texas, New Mexico and Oklahoma to 7-Eleven Inc. for about $1 billion. The deal includes Stripes convenience stores and Laredo Taco Company restaurants. Sunoco’s stock SUN rose by 1.6% in...
How can my parents pay for long-term care? Should they do a reverse mortgage?
Both of my parents will need long-term care soon, and my family is wondering what the best way is for them to pay for it. We’re concerned their cash will be drained in the next six to 12 months. They’re not on Medicaid at the moment, but they have a house that has...
Wall Street firms getting excited over Japan as Nikkei keeps hitting records
Japanese stocks were back in the spotlight from top Wall Street firms, as the benchmark Nikkei 225 crossed the 35,000 mark for the first time in nearly 34 years. The Nikkei 225 JP:NIK ended up 1.8% to 35,049.86, in yet another strong showing for the Japanese index....
What record crude production says about the long road to U.S. oil independence
U.S. oil production has touched its highest level on record, and exports of the commodity are on the rise, but a hit to prices from a potential slowdown in demand and a lack of sufficient pipeline capacity may prevent the U.S. from reaching independence any time soon...
What’s the best way to invest in the S&P 500?
If you own a S&P 500 fund, here’s what’s happening: Either you’re massively bulking up on a relatively small number of giant companies or you are investing as if the fortunes of U-Haul (to pick a company at random) and Microsoft are equally important to your...
WPP gets double-downgrade to sell at UBS over tech exposure
Ad agency WPP got a double-downgrade, to sell from buy, at UBS, in a note published Thursday. The firm argues WPP’s WPP, -2.95% WPP, +1.15% organic sales growth will be below consensus and below the sector for both this year and the medium term, and that free cash...
The 2024 Acura Integra is quick, precise, and blends pizazz with practicality
The 2024 Acura Integra is a luxury compact car with a sporty edge. So sporty, in fact, that it offers a manual transmission. Pricing starts at $31,500. It’s 2024, and who’d have thought a luxury marque would put a 6-speed manual transmission on the options list?...
Treasury yields dip as traders await December inflation report
Bond yields fell early Thursday as investors awaited U.S. inflation data they hope will signal the Federal Reserve may consider cutting interest rates in coming months.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y dipped by 2.1 basis points to...
Skydance investors discussing two-part plan to merge with Paramount: report
Skydance Media is in early talks over an all-cash offer for National Amusements, the parent of media giant Paramount Global, in an effort that would eventually merge both Skydance and Paramount, the Wall Street Journal reported on Wednesday. Citing sources familiar...
KB Home says buyers are ‘responding favorably’ to falling mortgage rates
Homebuilder KB Home on Wednesday said it had seen a “meaningful” increase in orders over the first several weeks of its first quarter, after a dip in mortgage rates last month made buying a home more attractive. “We have experienced a meaningful sequential increase in...
Homebuilder Smith Douglas prices IPO at $21 a share, at top of range
Smith Douglas Homes Corp. priced its initial public offering at $21 a share late Wednesday, at the high point of its estimated range. The homebuilder plans to offer 7.69 million shares, raising about $161.5 million. Shares are expected to start trading Thursday on the...
DeSantis, Haley clash over his Disney fight at Iowa GOP debate
Florida Gov. Ron DeSantis defended his high-profile battle against the Walt Disney Co. during a debate on Wednesday night, while rival Republican presidential hopeful Nikki Haley criticized his treatment of the entertainment giant. “The proper role of government, if...
Amazon’s Twitch plans to slash 500 jobs, in latest tech layoffs
Twitch — the live-streaming platform run by Amazon.com Inc. — said on Wednesday that would cut a little over 500 jobs, or 35% of its workforce, following concerns about overexpansion and the company’s ability to turn a profit. Amazon AMZN, +1.89% on Wednesday also...
Opinion: Why I plan on following the Colonel Sanders model for living in my 60s
I turned 60 this week, something of a milestone birthday that one could say marks my arrival into senior citizenhood and that final, quiet chapter of life.Naturally, that has led to a number of thoughts about growing old and what I’ve learned (and not learned) over...
State-level reparations are piecemeal — a federal program is best: Sandy Darity
Efforts at the state and local level to compensate descendants of enslaved people with reparations are counterproductive, a leading reparations scholar said — because they fall short of what a federal program could accomplish. Meanwhile, the total cost of such a...
Jobs report exaggerated the increase in U.S. hiring in 2023
The U.S. added a surprisingly large 2.7 million new jobs in 2023 as the economy defied a widely forecasted recession, but monthly increases were exaggerated by pandemic-era distortions in how they are counted. Make no mistake. The U.S. labor market is historically...
3M CEO in line for $26 million pension — as company freezes the plan for workers
Another day, another U.S. corporation cuts retirement benefits for its workers while fattening benefits for the people in its executive suite.Storied manufacturing giant 3M MMM, -0.43% has announced that it is freezing the company pension plan for nonunionized workers...
Amazon cuts ‘several hundred’ roles at Prime Video and MGM; Twitch makes layoffs
Tech layoffs are continuing, with Amazon.com Inc. cutting “several hundred” roles across its Prime Video and MGM Studios organization, according to an email sent to staff Wednesday morning. In a separate announcement, Twitch, the Amazon-owned live-streaming platform,...
Fixer on 50 acres: $2.9 million Abercrombie castle in Westchester County
An unfinished castle built by American entrepreneur David Abercrombie is on the market in New York’s Westchester County for $2.9 million. Abercrombie, yes, that Abercrombie, is best known for starting the American lifestyle brand Abercrombie & Fitch. ANF, +1.70%...
Small-cap stocks book an uncommonly large 50-day rally. Is it too late to buy?
Traders may be feeling some whiplash when it comes to small-cap stocks, but choppiness aside, that section of the market just booked a rare surge. In the 50 trading days since the U.S. stock market’s Oct. 27 lows, the Russell 2000 RUT has surged more than 20% — its...
American Express, Goldman Sachs, Citigroup’s stocks draw downgrades from BMO
American Express Co., Citigroup Inc. and Goldman Sachs Group Inc. marked the largest of six financial firms to draw downgrades at BMO Capital Markets on Wednesday. After a rally by banks and specialty finance stocks from October lows, the sector faces headwinds, even...
Blood-plasma group’s shares rally after short seller slashes negative bet
Shares of Grifols rallied 8% on Wednesday, after the short-seller who criticized the Spanish drug company’s accounting practices sharply reduced its negative bet on the stock. In a regulatory filing Wednesday, General Industrial Partners, the owner of hedge-fund...
After the storm: How to get reimbursed for spoiled food, avoid lost checks and other strategies
Storms and other extreme weather events can wreak havoc on older Americans’ lives, affecting their homes, finances and even their health long after the rain stops and the snow melts. States across the U.S. were battered by storms on Tuesday, with some 196 million...
Treasury yields edge lower a day ahead of December’s CPI inflation report
U.S. government debt rallied Wednesday morning, sending 1- through 30-year Treasury yields slightly lower ahead of the December consumer price index report in the next trading session.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y dipped 3.7 basis...
This Social Security rule is dead — but spouses still have options
Social Security beneficiaries who celebrated their 70th birthday on Jan. 1 are the last individuals to benefit from a special spousal rule. For everyone else, that rule is officially dead. Individuals born on or before Jan. 1, 1954, are eligible to use a Social...
Choice Hotels slams Wyndham’s claims of antitrust risk in its bid for smaller rival
Choice Hotels International Inc. said Wednesday that the antitrust risk that Wyndham Hotels & Resorts Inc. has claimed is a key factor in its rejection of Choice’s hostile $85-a-share takeover bid is “misleading and further reflects the board’s apparent...
Virgin Galactic shares rise after Truist upgrade, price target raise
Virgin Galactic Holdings Inc. shares rose 4% in premarket trade Wednesday after Truist Securities upgraded the stock to hold from sell and raised its price target to $3 from $1. “Our view on the company’s operational prospects is unchanged,” Truist Securities analyst...
Solo Brands draws at least two downgrades as stock drops to lowest point since 2021 IPO
Solo Brands Inc. has drawn at least two analyst downgrades on the heels of a revenue warning earlier this week, with the stock now trading at all-time lows since its initial public offering in 2021. Solo Brands Inc. DTC, -2.78% fell 0.5% in premarket trading on...
BorgWarner pushes further into the China EV market
BorgWarner Inc. is making a further push into China’s electric-vehicle market, as it announced Wednesday the forming a joint venture with commercial EV parts supplier Shaanxi Fast Auto Group. “By jointly working on a high-voltage inverter application for high...
Stocks headed to the Moon if Yellen whips out a surprise this month, says Nomura strategist
Investors are a day away from an inflation report that may offer some direction in a young year that has seen markets meander, with a brief sell-off and a partial rally back. More action may come as Wall Street banks kick off earnings season on Friday. HSBC’s global...
Oil flat as traders await official data on U.S. crude inventories
Oil futures hovered near unchanged early Wednesday, with traders awaiting an official update on U.S. petroleum inventories after an industry group reported a large drop in crude stocks but increases in gasoline and distillate supplies.Price action West Texas...
‘Goldilocks thinking’ can set stock-market investors up for losses: Howard Marks
Stock-market investors may be setting themselves up for disappointment — and losses — by engaging in “Goldilocks thinking” on the economy, legendary investor Howard Marks warned Tuesday in his latest memo. Marks, the billionaire co-founder of distressed-securities...
TSMC posts better-than-expected sales signaling semiconductor slump has started to ease
Taiwan Semiconductor Manufacturing Co (TSMC) on Wednesday beat analysts expectations, despite reporting a drop in its revenues, by posting better than expected sales in the final quarter of 2023 amid signs the global slump in the chip market has now reached an end. ...
S&P 500 futures inch higher, Dow dips, in cautious trading ahead of inflation report
U.S. stock index futures were mixed early Wednesday, as markets saw cautious trading ahead of the December inflation report on Thursday. How are stock-index futures trading S&P 500 futures ES00, +0.13% rose 6 points, or 0.1%, to 4799 Dow Jones Industrial Average...
Zuckerberg says he’s now a rancher, raising cows on beer and nuts
Some billionaires are focused on the heavens above while others prefer to toil the fields below. Mark Zuckerberg, the founder and chief executive of Meta Platforms META, -0.34%, took to the Instagram service his company operates to reveal he is raising cows in Hawaii...
Opinion: 10 predictions for stocks, crypto, AI, gold and bonds in 2024
Here are some markets, economy and stock predictions for 2024, including what would be a most unexpected outcome for the U.S. economy. First, a reminder: “The markets and the economy are not the same.” 1. AI continues to capture the world’s imagination: The biggest...
Hewlett Packard Enterprises to buy Juniper Networks in $14 billion deal
In an effort to keep up in the accelerating AI arms race, cloud-services provider Hewlett Packard Enterprise Co. on Tuesday agreed to buy Juniper Networks, Inc. in a deal worth around $14 billion. Under the terms of the deal, Hewlett Packard Enterprises HPE, -8.92%...
At CES, Intel announces deal to buy Silicon Mobility SAS
Intel agreed to buy Silicon Mobility SAS, a fabless silicon and software company that develops system-on-chips for intelligent electric-vehicle energy management. The purchase is one of the plans Intel INTC, -0.83% announced at CES to bring its “AI everywhere strategy...
Boeing vows to approach 737 Max blowout with ‘100% and complete transparency’
Boeing Co. BA, -1.41% Chief Executive David Calhoun on Tuesday told employees the jet maker needed to acknowledge its mistakes, after a panel blew off a 737 Max 9 jet flown by Alaska Airlines days earlier, and approach the matter with “complete transparency.” “We are...
These seven companies are worth as much as all the stocks trading in Canada, Japan and the U.K. combined
A group of seven of the most valuable publicly-traded U.S. companies are worth as much as the entire equity markets of Canada, Japan and the U.K. combined. Apollo economist Torsten Slok illustrated as much in a Tuesday missive to clients and the financial press where...
Fed will let emergency loan program expire, top official says
The Federal Reserve has no plans to extend an emergency loan program it launched last year to bolster the capacity of the banking system in the wake of the collapse of Silicon Valley Bank. The Bank Term Funding Program will expire on March 11 as it reaches its...
Meta says it will restrict content for teens amid mounting criticism and AG lawsuit
Bowing to intensifying criticism that its products are addictive and harmful to young people, Facebook parent Meta Platforms Inc. said Tuesday it will limit the type of content teenagers who use Facebook and Instagram are able to view. In a blog post, Meta META,...
Does America’s record-high consumer credit signal a downturn? Experts are split.
““Not good…. We obsess over GDP, unemployment, labor participation, etc as predictors of recession, but rising consumer debt levels have also portended economic downturns.”” — Sheila Bair, former FDIC chair, on record-high consumer credit levels That’s former chair of...
Private company’s moon landing ends in failure as propellant leak dooms mission
The company behind the first U.S. commercial moon lander says there is now no chance of a successful landing on the lunar surface after the spacecraft suffered a propellant leak. “Given the propellant leak, there is, unfortunately, no chance of a soft landing on the...
JetBlue’s stock tumbles after analyst sees 40% downside
Shares of JetBlue Airways Corp. took a hard hit Tuesday, following an analyst’s call to sell the stock, and after the air carrier announced that its long-time chief executive was retiring for health reasons. A look at the stock’s JBLU, -10.68% chart suggests, however,...
Trump says he hopes market crashes in 2024 under Biden
“‘We have an economy that’s so fragile, and the only reason it’s running now is it’s running off the fumes of what we did — what the Trump administration [did], it’s just running off the fumes. And when there’s a crash, I hope it’s going to be during this next 12...
Spain’s Galician coast inundated by millions of tiny plastic ‘nurdles’
Parts of Spain’s northern coastlines have been inundated by a sea of tiny plastic pellets and hundreds of volunteers have been using sifters to try and get them off the beaches and out of the seas. Nurdles, as they are referred to, are a lentil-sized plastic pellet...
It’s been years since consumers felt this good about inflation, NY Fed says
Americans say inflation rates will keep cooling in the year ahead, according to Monday data offering another sign of a brightening mood on inflation. Looking ahead one year, consumers expect the inflation rate to fall to 3%, according to the Federal Reserve Bank of...
Oil prices bounce as traders weigh Middle East disruptions, supply outlook
Oil futures rose Tuesday, taking back some of the ground lost in the previous session as traders weighed ongoing tensions in the Middle East and continued disruptions to Red Sea shipping.Price action West Texas Intermediate crude CL00, +1.05% for February delivery...
Why stock-market bulls should be careful what they wish for on Fed rate cuts
Equity bulls banking on a soft landing for the economy appear to be taking comfort in market-based expectations for the Federal Reserve to cut its key lending rate by around 1.5 percentage points in 2024. Here’s the rub. History shows the majority of the time the Fed...
Cannabis company Tilray Brands stock up as it narrows net loss on record revenue
Tilray Brands Inc.’s stock rose 5% in premarket trading on Tuesday after the cannabis and beverage company’s adjusted loss beat estimates on record revenue. Tilray TLRY, -5.13% said its second-quarter loss narrowed to $46 million, or 7 cents a share, from a loss of...
Bill Ackman opened a wormhole of plagiarism allegations — now his wife is in it
Billionaire hedge-fund manager Bill Ackman led the charge to push out Harvard’s president, Claudine Gay, amid charges of plagiarism. But now the recriminations have boomeranged, with reports that Ackman’s wife may have committed plagiarism in her dissertation. The...
JPMorgan gets stock upgrade from Deutsche Bank, as Wells Fargo gets stock downgrade
Deutsche Bank on Tuesday upgraded JPMorgan Chase & Co. to buy from hold while downgrading Wells Fargo & Co. to hold from buy, as analysts weigh in ahead of fourth-quarter results. Deutsche Bank analyst Matthew O’Connor said there are three key themes to 2024 —...
Spanish blood plasma company stock tumbles after short-seller research report
Spanish blood plasma company Grifols saw its shares plunge more than 40% at one point on Tuesday after hedge fund Gotham City Research questioned the Madrid-listed group’s financial reporting. In a research note published Tuesday, short seller Gotham City said Grifols...
3 financial resolutions for any year, from Budgetnista Tiffany Aliche
Even though she’s a popular personal finance podcaster, educator and motivator, Tiffany Aliche always slips up a little on her New Year’s resolutions – just like the rest of us.The Budgetnista, as she is known, was going to start this year fresh and eat right with...
Shades of 2022. Why this veteran strategist is ‘max bearish’ on U.S. stocks
Credit last year’s hero Nvidia NVDA, +6.43% for giving Wall Street its best day so far in a shaky start to 2024. But gloom from Samsung is dampening the mood, with stock-market futures pointing to pullback.In the bear camp, JPMorgan’s chief global strategist Marko...
Opinion: Biden standing up for trade would give voters a counter to Trump’s isolationism
The U.S. navigates a perilous world that is now challenging the fundamental purposes of America’s foreign and international economic policies — chiefly the security and prosperity of its citizens and allies. Authoritarian foes have combined resources that rival...
‘I hate the 9-to-5 grind’: I want more time with my newborn son, but my husband doesn’t work. Should I give up my job and dip into my six-figure trust fund?
My long-term boyfriend and I, both 45, finally had our first child last year after years of trying. Due to our age and some other factors, he is likely to be our only child. He is the light of my life, and I’m realizing that as I only get one chance to experience...
Ten-year Treasury yields hold above 4% as traders parse latest Fedspeak
Bond yields nudged higher early Tuesday as traders absorbed the latest comments from Fed officials and eyed a crucial inflation report later in the week.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y was barely changed at by 4.379%. Yields move in...
S&P 500 futures dip as Samsung warning damps technology stocks
U.S. stock index futures early Tuesday suggested traders would trim a portion of the previous sessions strong gains as a profit warning from Samsung Electronics weighed on the technology sector.How are stock-index futures trading S&P 500 futures ES00, -0.27%...
GSK to buy asthma drug developer for up to $1.4 billion in pipeline push
GSK on Tuesday said it had struck a deal to acquire asthma drug developer Aiolos Bio for up to $1.4 billion, as the British pharmaceutical giant pushes forward with plans to bolster its development pipeline by snapping up autoimmune and respiratory focused biotech...
The former bond king, Bill Gross, says 10-year Treasury is ‘overvalued’
The former bond king doesn’t like the fixed-income security that’s the lynchpin of the financial world. Bill Gross, the retired fund manager and co-founder of Pacific Investment Management, took to the social-media service X to say that the 10-year Treasury...
The IRS just announced when taxpayers can start filing returns this year
Americans can start filing their income-tax returns with the Internal Revenue Service on Monday, Jan. 29, the federal tax collector announced Monday. Monday, April 15, is the deadline to pay any taxes owed, and it’s also the deadline to either file a return or get an...
Extreme Networks shares slide 6% following lowered outlook
Extreme Networks shares EXTR, +2.28% edged down 5.9%, to $16.47 in after-hours trading Monday after the company lowered its second-quarter revenue outlook. The stock, which closed up 2.3%, to $17.52, is down 8.7% over the past 12 months. The cloud-networking company...
Activist investor Elliott takes big stake in Match Group, seeks changes: report
Elliott Investment Management has taken a significant stake in online dating company Match Group Inc., and plans to push for changes to boost its stock, the Wall Street Journal reported Monday night. According to the report, which cited sources familiar with the...
Samsung Electronics expects profit to plunge in fourth quarter
Samsung Electronics 005930, -2.35% expects its fourth-quarter operating profit to fall 35% from a year earlier, missing market expectations and dampening hopes for an earnings recovery led by its semiconductor business. The world’s largest maker of memory chips,...
National Association of Realtors president resigns after receiving ‘threat’
The president of the largest trade association in the U.S. is stepping down just months after assuming the role. Tracy Kasper, the president of the National Association of Realtors, is departing the organization, and will be replaced by president-elect Kevin Sears...
Opinion: Apple stock looks expensive vs. the rest of the ‘Magnificent Seven’
Apple Inc.’s stock had a very good run in 2023, but it is starting 2024 with looming issues that make it look expensive for investors.To begin, Apple AAPL, +2.01% has morphed into a slow-growth company, failing to increase year-over-year revenue in each of its past...
American Airlines stock gains on Morgan Stanley upgrade, ‘decent’ holiday season
American Airlines Group Inc. stock gained altitude on Monday after the carrier drew an upgrade from Morgan Stanley as part of the investment bank’s fourth-quarter earnings outlook for the sector. American Airlines AAL, +7.02% was up about 6% in midday trading, with...
Good news for tenants: Rents have fallen for three months in a row
Renters, rejoice: While home prices have continued to rise, rents are falling after a major run-up over the last few years. And more relief could be on the way. The median asking rent in the U.S. fell in December by 0.8%, as compared to the previous year, real-estate...
Nvidia dives deeper into AI drug development with Amgen, Recursion partnerships
Nvidia Corp. NVDA, +4.89% is doubling down on artificial-intelligence-powered drug discovery and development, announcing expanded partnerships Monday with Amgen Inc. AMGN, +1.25% and Recursion Pharmaceuticals Inc. RXRX, +3.48%. Amgen subsidiary deCODE Genetics is...
Bank of America to take $1.6 billion noncash charge as it transitions away from BSBY index for lending
Bank of America Corp. on Monday said it would take a noncash pretax charge of about $1.6 billion in its fourth-quarter report related to the global transition away from an index used to replace the London interbank offered rate, or Libor. Bank of America BAC, -1.84%...
What airlines fly the 737 Max 9?
Alaska Airlines, United Airlines and Turkish Airlines have grounded their 737 MAX 9 airplanes in the wake of a Friday incident during an Alaska Airlines flight. The airlines — and others to be announced — took the action over the weekend after part of the plane tore...
Twilio’s stock up more than 6% as CEO Jeff Lawson steps down
Shares of Twilio Inc. popped more than 6% Monday after co-founder and chief executive Jeff Lawson said he is stepping down. The surprise move comes as the enterprise-communications software company battles two activist investors pushing for big changes at Twilio. In a...
The surprising stocks that are top picks for market-watchers
I bet you can’t guess which stock is most popular right now among monitored investment newsletters. It’s not Apple AAPL, the Wall Street perennial favorite that nearly doubled the market’s total return in 2023, gaining 49.0% to the S&P 500’s 26.3%. Nor is it...
I-bonds or a 529 for college savings? A helpful aunt wants to know which is best
Got a question about the mechanics of investing, how it fits into your overall financial plan and what strategies can help you make the most out of your money? Write to me at beth.pinsker@marketwatch.com. I set up Series I Bond accounts for several of my nephews’...
Solo Stove’s stock on track for its largest-ever one-day loss on heels of revenue warning
Solo Brands Inc.’s stock fell 32% Monday after the maker of Solo Stove portable firepits said its fourth-quarter results came in below expectations due to softer-than-expected direct-channel sales. The drop in Solo Brands’ DTC, -36.10% stock puts it on track for its...
3M to scrap pension plans for non-union employees
3M Co. said Monday that it plans to end its pension plan for non-union U.S. employees in five years. The consumer, industrial and healthcare products company MMM, -0.47% said it has been moving from a pension plan to a 401(k) retirement-plan structure for “many...
‘Survey-high share’ of consumers expect mortgage rates to fall: Fannie Mae
Consumers are feeling more enthusiastic about the U.S. housing market, with a rising share saying they think mortgage rates will fall over the next 12 months, according to a new survey by Fannie Mae. The monthly Home Purchase Sentiment Index rose 2.9 points in...
Everyone is back to buying stocks again — at the wrong time
Trying to “time” the stock market is hard enough. But if you’re just going to follow the herd — buying high, and selling low — you might as well just give it up. Wait, that’s not right. You’re supposed to buy low and sell high. But so-called retail investors — people...
Lululemon Athletica’s Q4 guidance edges up but low end of range could fall a penny short of FactSet consensus estimate
Lululemon Athletica Inc.’s stock fell 1.7% in premarket trading on Monday after the company said it could fall a penny short of the FactSet consensus estimate at the low end of its fourth-quarter profit guidance. Lululemon LULU, -0.99% said it now expects to earn...
Oil prices slump as Saudis cut prices
Oil futures slumped Monday, under pressure after Saudi Arabia cut crude prices to all regions and as surveys showed higher production by members of the Organization of the Petroleum Exporting Countries.Price action West Texas Intermediate crude for February delivery...
Boeing’s stock tumble is cutting more than 140 points off the Dow’s price
The plunge in Boeing Co.’s stock isn’t the only reason the Dow Jones Industrial Average is headed lower, but it’s one major reason the index is set to underperform other broad-market barometers. Boeing’s stock BA, +1.66% sank 7.9% in premarket trading Monday, after...
Opinion: These stocks can be winners in AI because they all share this one quality
While the media would have investors focus on short headline-grabbing cycles such as political elections, central bank actions, and economic expansions and contractions, some investors — including our team at investment manager Alger — believe the ups and downs of...
Here’s Mike Wilson’s stock-market playbook for three economic scenarios.
The jobs data released Friday – and that startling employment component of the ISM services report – left enough wiggle room for just about any economic forecast. The bigger picture? Jobs growth seems to be slowing down, but not collapsing.That would seem to be...
Ten-year Treasury yields hold above 4% after traders trim rate cut expectations
Bond yields inched lower early Monday, though benchmark Treasurys remained above 4% after traders trimmed expectations for Federal Reserve rate cuts in 2024.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y fell by 2.1 basis points to 4.383%. Yields...
My late father’s ex-wife, his fiancée and my two half-siblings are hiding details about his estate. What can I do?
My father recently passed away at 75, without a will. At the time, he was divorced from his fifth wife and had a fiancée. He left behind three children: Me, the oldest at 57, from his first marriage, and a son and daughter, 29 and 32, from his fifth marriage. He was...
Elon Musk on WSJ story: If drugs helped my productivity, I would take them.
““If drugs actually helped improve my net productivity over time, I would definitely take them!”” — Elon Musk, Tesla CEO, on X That was businessman and inventor Elon Musk responding on his X platform, to an article by The Wall Street Journal that discussed alleged...
Boeing drags down Dow futures as investors fret over Fed trajectory
U.S. stock futures indicate a cautious session on Wall Street after a plunge in Boeing shares and amid uncertainty over Federal Reserve policy.How are stock-index futures trading S&P 500 futures ES00, -0.18% dipped 11 points, or 0.3% to 4724 Dow Jones Industrial...
These mutual fund and ETF investing tips can freshen your portfolio
Don’t miss these top mutual fund and ETF features: Sign up here to get MarketWatch’s best mutual funds and ETF stories emailed to you weekly!INVESTING NEWS & TRENDSThis ETF’s strategy has been working, and the numbers point to continued success A combination of...
Boeing shares tumble after window panel blowout
Boeing shares tumbled in premarket trade Monday after a panel blew out of an Alaska Airlines 737-9 Max, leading the Federal Aviation Administration to temporarily ground 171 of those planes. Boeing shares BA, +1.66% fell 8%, having gained 19% over the last 52...
This peanut butter, banana and bacon-flavored whiskey honors Elvis Presley.
The bottle Elvis Whiskey’s Midnight Snack whiskey, $34.99The back story It’s time to toast The King on his birthday, with a one-of-a-kind whiskey crafted in his honor. If he was still with us, Elvis Presley, the King of Rock ‘n’ Roll, would have turned 89 this...
Boeing and Lockheed’s ULA launches first Vulcan rocket, private moon lander
SpaceX rival United Launch Alliance launched its new Vulcan rocket early Monday. The rocket, which is the successor to ULA’s Delta IV and Atlas V rockets, is transporting the first commercial lunar lander on its journey to the surface of the moon, as well as a mission...
Radio giant Audacy files for chapter 11 bankruptcy, as ad sales plunge
Radio and podcast giant Audacy Inc. filed for chapter 11 bankruptcy protection Sunday amid a cratering advertising market. Philadelphia-based Audacy AUDA, +5.50% announced a “comprehensive restructuring” Sunday, seeking to reduce about 80% of its $1.9 billion of debt,...
Saudis cut crude prices to all regions amid oil-price weakness
Saudi Aramco on Sunday said it would cut crude prices to all regions, including its largest market in Asia — a move that comes amid weaker global oil prices and increased production by producers outside the Organization of the Petroleum Exporting Countries. In a...
Why stock-market investors will remain at mercy of shifting rate-cut expectations
Stock investors have gotten off to a wobbly start to the new year, hobbled by shifting expectations on the timing and extent of Federal Reserve interest-rate cuts in 2024.All three major U.S. stock indexes snapped a nine-week winning streak on Friday, after...
Why functional strength training is one of the best workouts for people over 50
A groundbreaking new study in the British Journal of Sports Medicine also shows that regular exercise, such as strength training, is up to 1½ times more effective than medication or therapy at treating depression, anxiety and stress. There is one type of strength...
How to reduce clutter at home without increasing clutter in the environment
Somewhere in the local landfill is a section for my belongings. I would like to keep it modest and don’t want it marked with a plaque stating, “Here lies a lifetime of accumulated stuff that once belonged to Linda Nanos.” I admit having accumulated too much, and as I...
Trying to get rid of your credit-card debt in 2024? Here’s your action plan.
A New Year’s pledge to pay down debt is common — but the resolution has new urgency for credit-card bills in 2024.Let’s start with the numbers.Americans had $1.08 trillion in credit-card debt through the third quarter of 2023. That doesn’t include their holiday...
A payment method that some call ‘phantom debt’ just hit a new record
New record-breaking numbers on buy-now-pay-later purchases show consumers aren’t getting spooked by the emerging payment method that some economists call “phantom debt.” U.S. shoppers racked up $16.6 billion in buy-now-pay-later purchases during the holiday season,...
At 65, I thought I could eat whatever I wanted—until I woke up in an ICU
About a year ago, three days after I turned 65, I suffered a health emergency that landed me in the hospital for 10 days. My doctor and wife told me for years to lose weight and alter my diet, but the stubborn, Neolithic, 1950s guy inside my head told me I didn’t have...
10 great places to live in the American Southwest
The southwest portion of the U.S. is a captivating and diverse region known for its stunning landscapes, rich cultural heritage and unique blend of traditions; this vast region offers a range of experiences. Culturally, the Southwest is influenced by Native American...
Seniors: These are the issues you need to care about this year
We’ve turned the page on a new year. What will 2024 hold for America’s seniors? In interviews, four of the country’s leading senior advocates outlined their priorities and stressed one constant — the urgent need to bolster the long-term viability of Social Security...
These sold-out Target travel mugs are selling for $200 on eBay
Forget Picasso paintings and Mickey Mantle rookie cards. Could the hottest new collectible be a Valentine’s Day-themed cup sold exclusively at Target TGT, +0.36% ? The “Galentine’s Collection” pink and red cups, made by Stanley, are priced from $20 to $45 at Target,...
‘Nobody ever told me’: How do I make sense of Social Security Disability Income & Veteran’s benefits? Please help.
Dear MarketWatch, I wish there was more written about how to reconcile between Veteran Affairs disability benefits and Social Security Disability Income. For example, the Social Security Administration is going to sign me up for Medicare as a result of coming to...
Opinion: U.S. recession a threat; China growth stalls, and other 2024 investing risks
“2024 is poised to be yet another tumultuous year for the global economy.” The global economy was full of surprises in 2023. Despite the sharp rise in interest rates, the United States successfully avoided a recession, and major emerging markets did not spiral into a...
Stuck in credit card debt?Balance transfer cards could be the way out in 2024
People who are carving down credit card debt in 2024 will need their own action plan filled with budgets and smaller repayment goals along the way. With interest rates as high as they are, a 0% balance transfer credit card may help too. Just be on the lookout for the...
Who is Bill Ackman, the hedge funder who pushed to oust Harvard’s president?
Bill Ackman’s calls for the removal of Harvard University President Claudine Gay were ripped straight out of a corporate raider’s playbook. It was a natural approach for the billionaire hedge-fund manager who made his name as an aggressive activist investor. For...
Opinion: Sharing COVID therapy secrets is a Trojan horse that would gut U.S. biotech
“It’s time for the Biden administration to nix this misguided IP waiver once and for all. ” Several countries are urging the United States to dismantle a cornerstone of its economic success. And the Biden administration may give them exactly what they want. The...
How using your own cup at Starbucks could get you 45 free breakfast sandwiches
Some personal-finance pundits argue that buying a cup of coffee every day could set you on the road to financial ruin, or at least, prevent you from becoming a millionaire. But the world’s biggest coffee chain is trying to turn that habit into a money-saving deal that...
This will not save Social Security
One of the most popular proposals for eliminating the Social Security funding shortfall is largely a mirage. I’m referring to the proposal to make all wages subject to the Social Security payroll tax, as opposed to current law in which only wages up to $168,000 are...
Burger King worker who bought his first home with GoFundMe money: ‘I feel legit’
Making ends meet was a constant struggle for Kevin Ford, a Las Vegas fast-food worker. Buying a house wasn’t even on the table, as he worked two jobs to cover his monthly rent and cost of living.Between working at the Burger King at Harry Reid International Airport...
What this key stock-market gauge is telling investors amid a rough start to 2024
The stock market has stumbled into the new year, but a closely watched measure of expected volatility remains subdued — cheering up investors looking for renewed equity gains but worrying those who fear market participants are complacent. The Cboe Volatility Index...
JPMorgan, Bank of America lead earnings parade of U.S. largest banks to cap off tough year
JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co. and Citigroup Inc. kick off earnings this coming Friday as Wall Street’s largest banks wrap up a tough year with their fourth-quarter results.Goldman Sachs Group Inc. GS, +0.91% and Morgan Stanley...
This ETF’s strategy has been working, and the numbers point to continued success
The Gabelli Financial Services Opportunities Fund is an exchange-traded fund that is actively managed. This fund is less than two years old but has performed very well. A list of its holdings and estimates for the fund’s portfolio illustrate why the approach has...
‘He just ignores us’: My parents put my youngest brother on the title of our family home. Is he morally obligated to share it?
I have six siblings. My youngest brother, 50, has his name on the title of the family house, as did my two deceased brothers. Two sisters got married and removed their names from the deed. One of our sisters was on the title, but also passed away. My brother says, “I...
Microsoft gets closer to overtaking Apple as most valuable U.S. company
Microsoft Corp. is getting closer to retaking the title of most valuable U.S. company as it narrows in on Apple Inc. Now valued at $2.73 trillion, Microsoft MSFT, -0.05% is worth about $100 billion less than Apple AAPL, -0.40%, which is valued at $2.83 trillion. Apple...
The Russell 2000 Index has soared, but you might be better off looking elsewhere for quality small-cap stocks
The Russell 2000 Index soared 12% in December, which might reflect investors’ exuberance about the state of the U.S. economy — it appears the Federal Reserve has won its battle against inflation. But if you are looking to broaden your exposure to the stock market...
Inflation back in the spotlight this week with CPI and PPI on deck
A surprisingly strong December jobs report published Friday, highlighted by an uptick in wage growth, keeps the spotlight on inflation early in the new year. The December consumer price index on Thursday will help Wall Street DJIA to assess whether inflation remains...
Why a poor start to the year for S&P 500 doesn’t bode well for stocks in 2024.
The S&P 500’s movement over the first five days of the trading year often provides a good indicator of how it will perform over the rest of the year, according to historical data. But if so, that doesn’t bode well for stocks in 2024. Historically, the large-cap...
I want to blow the whistle on my former employer’s ‘shady practices,’ but I signed an NDA. Can I break it?
I didn’t realize what I was signing at the time, as those documents were buried among a bunch of other paperwork. I left the company because they lied to me about bonuses and how the pay was structured, as well as about their code of ethics. It turns out I’m really...
Boeing, Lockheed Martin’s United Launch Alliance to launch first Vulcan rocket
SpaceX rival United Launch Alliance is making final preparations ahead of the debut launch of its new Vulcan rocket. Vulcan, which will be the successor to ULA’s Delta IV and Atlas V rockets, will transport a commercial lunar lander on its journey to the surface of...
AMC extends losing streak to five days, hits another record low close
AMC Entertainment Holdings Inc. extended its losing streak to five days Friday, with the stock ending the session down 2.5% to $5.15. AMC AMC, -2.45% shares are now on their longest losing streak since a seven-day slide that ended on Aug. 29, 2023. The movie-theater...
Interim CEO of Sports Illustrated parent Arena Group steps down, shares tumble
Arena Group Holdings Inc., the media company that runs Sports Illustrated and TheStreet, said Friday that interim Chief Executive Manoj Bhargava had resigned to steer clear of potential conflicts, and that it had missed some payments and tapped a consulting firm to...
7 buzzy dining trends for 2024: ‘Porn star’ martinis and a vegan take on Nutella
Are you hungry for change — in the most literal sense? The new year will likely see many shifts in what Americans eat and sip. It’s the inevitable out-with-the-old and in-with-the-new pattern that has come to define the dining and drinking scene. In fact, some of...
New York AG seeks $370 million fine from Donald Trump, lifetime real estate ban
New York Attorney General Letitia James asked a Manhattan judge on Friday for a bigger $370 million penalty and harsh sanctions against former President Donald Trump and his real-estate business. In a court filing that followed a tumultuous civil fraud trial in New...
Reddit, Shein and Stripe may lead a revived IPO market in 2024
The U.S. market for initial public offerings is expected to stage a recovery in 2024 from the drought of the last two years, buoyed by expectations the Federal Reserve will switch to a rate-cutting cycle and boost market conditions.A hoped-for rebound failed to fully...
This earnings season will be the first big test of the market’s year-end rally. The forecasts don’t look great.
Markets closed out 2023 with an early celebration of 2024, as hopes for lower interest rates led to hopes for a less squeezed U.S. consumer. But just as this week’s New Year’s hangover clears, investors will be hit with another headache next week: fourth-quarter...
Retailers could suffer ‘perfect storm’ of Red Sea and Panama Canal disruption, says logistics expert
The Houthi attacks on cargo ships in the Red Sea and the drought afflicting the Panama Canal have created a “perfect storm” of disruption in global shipping, according to Mike Giambrone, an account executive at logistics provider OEC Group New York. This week, the...
Agilon Health’s stock suffers record plunge after revenue, margin outlook cuts
Shares of Agilon Health Inc. were suffering a record plunge toward a record low Friday, after the provider of support services for primary care physicians cut its outlooks for margin, revenue and profitability, citing higher medical service expenses. In a separate...
King dollar makes a comeback: buck on track for best start to a year in nearly a decade.
The U.S. dollar is surging out the gate in 2024 after a difficult run that left the buck in oversold territory at the end of last year, according to several analysts. The ICE U.S. Dollar Index DXY has risen 0.7% to 102.3 on Friday, leaving it on track for its best...
Fintech Kaspi.kz is set to be first Kazakh company to list in the U.S.
Fintech Kaspi.kz is poised to become the first company from the Republic of Kazakhstan to list in the U.S. after the company filed for an IPO in late December.The company is parent to the Kaspi.kz Super App, which offers a range of financial services to customers via...
The typical home in these cities will cost at least $1,000,000 in 10 years
The housing market is already unaffordable in many parts of the U.S., but in these California cities, the typical home is expected to be worth at least a million dollars in the next 10 years, according to a new analysis. The analysis from real-estate company Zillow...
When can I file my 2023 income taxes with the IRS? What is the new standard deduction and child tax credit?
When can I file my income taxes for 2024? While we’re at it, what are the income tax brackets this year?What’s the child tax credit for 2024? How about the standard deduction? And what are the 401(K) limits for this year? Trying to Plan AheadDear Planning Ahead, Full...
Wintry Buffalo, N.Y., is 2024’s hottest real-estate market, Zillow says
It may be one of the snowiest cities in America, but Buffalo, N.Y., will be the hottest housing market this year, according to a new report from Zillow ZG, +1.00%. The real-estate company analyzed the top 50 metro areas in the U.S. and looked at a number of factors to...
Oil heads for weekly gain, buoyed by Middle East tensions
Oil futures rose Friday, on track for weekly gains as rising tensions in the Middle East stoke fears of a wider war that could crimp crude supplies.Market drivers West Texas Intermediate crude for February delivery CL00, +2.44% CL.1, +2.44% CLG24, +2.44% rose $1.81,...
These two bank stocks shine as the industry gets closer to turning a corner
The banking industry is getting close to turning a corner, analysts believe, and the stock market, as usual, has acted in advance by sending bank stocks soaring. Banks will kick off the first earnings season of the year next Friday, when JPMorgan Chase & Co. JPM,...
Getting fired changed my life in the best way: How to thrive after money setbacks
Personal-finance expert Lynnette Khalfani-Cox is not 5 feet into the reception area of News Corp offices in Manhattan to check in for an interview with MarketWatch before she runs into an old colleague who is now running one of the divisions in which Khalfani-Cox used...
Opinion: Hey, billionaires! Stop giving money to Harvard.
The donors have spoken. Apparently, it was the revolt of the university’s rich, powerful donors that helped seal the fate of Harvard University President Claudine Gay, who resigned this week. The board had spent months trying to defend her. First, it was against...
Constellation Brands Q3 sales lag estimates and company lowers full-year EPS guidance
Constellation Brands Inc.’s stock STZ, +0.38% fell 0.9% early Friday, after the wine and spirits distributor posted weaker-than-expected sales for its fiscal third quarter and lowered its full-year guidance. The company posted net income of $509.1 million. or $2.76 a...
MDMA therapy company Lykos raises $100M in Series A funding as it eyes FDA approval
MAPS Public Benefit Corp. said Friday it raised $100 million in an oversubscribed Series A round of financing as it works to win approval from the U.S. Food and Drug Administration to become the first provider of psychedelic-assisted therapy for post-traumatic stress...
I have a house with a mortgage rate of 1.9%, but I’m moving over 2,000 miles away. Should I rent or sell?
We need to relocate from Seattle for a variety of reasons — work, disliking our neighborhood, desire for better weather, need better schools — and will be moving 2,000 miles away. We currently have a four-bedroom 2021 new construction 2,700 square-foot home. Our...
Remy Cointreau, Pernod Ricard shares hit by China probe of EU brandy
Shares in leading French makers of spirits plunged on Friday in wake of a Chinese investigation. Remy Cointreau RCO, -11.89% shares plunged 11% and Pernod Ricard stock RI, -4.89% fell 5%, after China launched an anti-dumping investigation into brandy imported from the...
These stocks mostly doubled but are still the place to be: Bank of America
Markets are heading into jobs Friday in a distinctly sour mood, with futures indicating the S&P 500 may take its 2024 losing streak to four sessions.When stocks sell off in such an environment, inter-market correlations tend to rise as traders dump most factors....
What history says about stocks and the bond market ahead of a first Fed rate cut
Investors are convinced the Federal Reserve’s next move will be to cut rates. But if the Fed does follow through, the timing of a cut could still trip up the markets. The table below from Ned Davis Research, using data going back to 1970, shows how the yield on the...
U.S. bond yields continue to rise ahead of jobs report
Treasury yields rose Friday ahead of the December payrolls report on Friday, following the biggest one-day yield rise for the benchmark government bond in a month.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y was 4.42%, up 4.2 basis points. The...
Investing in Mobileye would be like going ‘dumpster diving,’ hedge fund manager says
Hedge fund manager Tom Hayes has taken a clear view on Mobileye , which on Thursday saw its share price plunge 25%, in turning his nose up at the prospect of investing in the Intel spinoff by stating that he refuses to go “dumpster diving.” Hayes, who founded New...
Verizon’s problems ‘aren’t just narrative’ — but here’s the stock’s bull case
“The problems aren’t just narrative” when it comes to Verizon Communications Inc., according to Wolfe Research analyst Peter Supino. Yet he upgraded the stock to outperform from peer perform late Wednesday, writing that he and his team “really like” the risk-reward...
Tesla to recall 1.6 million vehicles in China
Tesla will recall 1.62 million vehicles in China, over concerns about steering software, news agencies reported Friday, citing a government statement. AFP and Reuters reported that the China State Administration for Market Regulation said both imported as well as...
AMC hits another record low close, extends losing streak to four days
AMC Entertainment Holdings Inc. hit another record low close Thursday, ending the session at $5.30 after falling 5%. The stock is now on a four-day losing streak, its longest since a five-day streak that ended on Nov. 13, 2023. The movie-theater chain and onetime...
European supermarket giant pulls PepsiCo products due to high prices
One of the world’s largest supermarket chains is yanking popular PepsiCo Inc. products from shelves in Europe due to their high prices. France-based Carrefour S.A. CA, -0.63%, which operates more than 12,000 supermarkets worldwide, started removing items including...
Peloton partners with TikTok, and shares race 14% higher
Peloton Interactive Inc. shares surged Thursday after the connected-exercise platform announced an exclusive partnership with TikTok. The deal will create a dedicated Peloton hub on the video-based social network with custom Peloton content, the companies said in a...
Eli Lilly launches home delivery of obesity drug Zepbound, warns on cosmetic use
Eli Lilly & Co. on Thursday announced the launch of new digital health services that could help smooth patient access to the obesity drug Zepbound and other medications — but also warned against the use of some of its most-popular drugs for cosmetic weight loss....
State lawmakers are revving up AI bills after years of inaction on tech by Congress
State legislatures are taking the lead in regulating artificial intelligence after a quarter-century in which Congress has failed to come up with substantive laws governing tech.The specter of AI and its wide-ranging potential impact on every aspect of life in the...
Opinion: Santa didn’t come to Wall Street and stocks now face rough sledding
The stock market, as measured by the S&P 500 Index SPX, sold off sharply once the new year began. This is partly due to the fact that traders did not want to take taxable gains at the end of 2023, so they deferred selling that they might have normally done until...
Why the S&P 500 is destined to keep crushing the Russell 2000
Despite a 17% gain in 2023 for the Russell 2000 RUT index, small-cap and midcap stocks appear to be even cheaper today than they were a year ago. That would be remarkable, since small-cap and midcap stocks were already quite cheap 12 months ago, according to the...
Opinion: Ozempic and other weight-loss drugs’ popularity set these stocks for big gains
Investors have such high hopes for popular weight-loss medications like Wegovy and Ozempic, the wonder drugs have sent shock waves through the stock market. Yet besides helping patients shed pounds, the meds have shaved billions in market valuation from companies that...
Mobileye’s stock melts down as inventory issues prompt grim revenue warning
Shares of Mobileye Global Inc. were tanking on Thursday after the company, which makes self-driving technology, issued a revenue warning as its customers deal with excess inventory. Mobileye MBLY, -24.61% said it expects first-quarter revenue to fall about 50% from...
U.S. stocks swing higher as Nasdaq looks to snap four-day losing streak
U.S. stocks swung higher in midday trading Thursday as the market headed for its first green session of 2024, with the Nasdaq Composite set to snap a four-day losing streak. How are stocks trading The S&P 500 SPX rose by 18 points, or 0.4%, to 4,723. The Dow Jones...
State-run IRAs hit $1 billion in assets in 2023. Will you be contributing to one this year?
More than 800,000 workers across seven states have amassed more than $1 billion in retirement savings through state programs that are filling in gaps for workers who don’t have a workplace retirement-savings plan. Beginning in 2017, states have stepped in to help the...
Omega Therapeutics stock more than doubles on Novo Nordisk obesity drug research pact
Novo Nordisk has entered research collaboration agreements with Omega Therapeutics Inc. and Cellarity Inc. on new treatments for obesity management, sending Omega’s stock up 109% on Thursday. The stock was on track for its biggest one-day gain since it went public in...
Houthi attacks on ships in the Red Sea could hit Next’s sales, clothes seller’s CEO warns
Next PLC NXT, +4.55% has warned that continued attacks by Houthis on cargo ships in the Red Sea risk disrupting its supply chains and delaying deliveries to the U.K. by up to two-and-a-half weeks. In a trading update, the British clothes seller warned that attacks...
Jobless claims drop to nearly three-month low of 202,000
The numbers: The number of Americans who applied for unemployment benefits in the final week of 2023 fell to a nearly three-month low of 202,000, suggesting that a softening labor market still has plenty of residual strength. New jobless claims declined by 18,000 from...
German core inflation falls in December, bolstering hopes for ECB rate cuts
Inflation in Germany rose less than expected in December, and a core reading moved lower, bolstering hopes that the European Central Bank can reduce interest rates this year. Annual headline inflation, harmonized to dove-tail with other European Union nations, last...
Infosys’s stock bounces after analyst’s buy call, as IT spending bottoms out
U.S.-listed shares of Infosys Ltd. were headed for their first gain of 2024 on Thursday, after J.P. Morgan turned bullish, saying the India-based information-technology services company should benefit as discretionary tech spending bottoms out in the coming months....
Walgreens’ stock jumps after earnings beat, dividend cut to boost cash flow
Shares of Walgreens Boots Alliance Inc. rallied Thursday after the drugstore chain and healthcare-services company beat fiscal first-quarter earnings expectations, and nearly halved its dividend to bolster its cash position. The company said it lowered its quarterly...
ADP jobs report finds 164,000 new workers hired in December
The numbers: Businesses added a solid 164,0,000 new jobs in December, paycheck company ADP said, in a sign the U.S. labor market remains fairly robust. The increase was the biggest in four months. Economists polled by the Wall Street Journal had forecast a 130,000...
HSBC warns another ‘reverse Goldilocks’ may soon hit stocks and junk bonds
Minutes from the last Federal Open Market Committee meeting released Wednesday showed that the central bank expected to make interest rate cuts this year but hadn’t seriously deliberated on the timing or magnitude of them. That failure to declare Mission Accomplished...
Bond investors, don’t get fooled: this rebound is just a bear-market rally
Explosive bond market rallies don’t automatically mean that bonds are now in a bull market. That’s important to keep in mind, given the undeniably impressive bond market rally since the October lows. (A proxy for the market, Vanguard’s Extended Duration Treasury Index...
Best-selling personal finance author says he’s more than $1 billion in debt
A bestselling personal finance author and entrepreneur admits that he has more than $1 billion in debt — and he doesn’t think that’s a bad thing. “If I go bust, the bank goes bust,” said “Rich Dad, Poor Dad” author Robert Kiyosaki in a Nov. 30 Instagram reel. “Not...
Oil boosted by worries over Middle East supplies, storage data
Oil futures rose Thursday, buoyed by the shutdown of Libya’s largest oil field and rising tensions around the Israel-Hamas war, as well as industry data showing a large drop in U.S. crude inventories.Price action West Texas Intermediate crude for February delivery...
Treasury yields a touch higher ahead of U.S. jobs data
Bond yields inched higher early Thursday as traders continued to parse the minutes from the Federal Reserve’s last meeting and awaited more updates on the U.S. jobs market.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y was barely changed at 4.341%....
Stock market fails to stage a ‘Santa Claus rally’ in rough start to 2024
Santa Claus was pretty much a no-show on Wall Street. As defined by the Stock Trader’s Almanac, the “Santa Claus rally” refers to the S&P 500’s tendency to rise during the last five trading days of a calendar year and the first two trading sessions of the new...
The 2024 Kia EV6 vs. the VW ID.4: Which of these electric SUVs is better?
Buyers considering an electric vehicle that’s practical and personable should look to the 2024 Kia EV6 and 2024 Volkswagen ID.4. Both offer a slightly elevated ride height typical of an SUV, along with fresh and modern cabins filled with the latest in technology. Of...
Office-loan delinquencies hit 5-year high in 2023, and may rise even higher
Office-loan delinquencies hit a five-year high in November for mortgages packed into bond deals, and they are expected to climb further in 2024, according to Moody’s Investors Service. The rate of office loans at least 60 days past due climbed to 5.28% in November...
AMC hits another record low close, reflecting demise of ‘meme stock’ status
Shares of AMC Entertainment Holdings Inc. ended Wednesday’s session down 8.7% at $5.58, registering another record-low close. The stock’s previous record closing low was $6.07, which was set on Dec. 21, 2023, according to Dow Jones Market Data, citing available data...
GSI Technology clinches AI-chip deal with U.S. Air Force
GSI Technology Inc. has been awarded a $1.1 million contract to develop an artificial-intelligence chip for the U.S. Department of the Air Force, the company announced Wednesday. The chip will be used by the Air Force for in-aircraft search and rescue, object...
Ex-Harvard President Claudine Gay warns of efforts to undermine U.S. institutions
““The campaign against me was about more than one university and one leader. This was merely a single skirmish in a broader war to unravel public faith in pillars of American society.”” Those are the words of Claudine Gay, who on Tuesday announced her resignation as...
Mark Zuckerberg sold $428 million of Meta stock in the last two months of 2023
Mark Zuckerberg cashed in on his company’s 2023 stock rally in a big way — selling nearly $428 million worth of shares in Meta Platforms Inc. over the final two months of the year. The Meta META, -0.53% co-founder and chief executive offloaded just under 1.8 million...
Private-equity hospitals put Medicare patients at risk, new research says
If you’re on Medicare and you’re going to be treated in a hospital, you might want to think twice before checking into one owned by a private-equity fund. There’s a good chance they’re skimping on hygiene and safety in order to squeeze out every nickel of profit....
Here’s what’s been keeping a lid on oil prices despite risks of a wider war in the Middle East
Crude futures climbed on Wednesday, but that’s the first gain for prices since the day after Christmas — even as rising tensions in the Red Sea raised the risk of a wider conflict in the Middle East disrupting the flow of oil in the region. “While oil prices have been...
Ate too much during the holidays? Now be on guard for the weight-loss scams
Weight-loss drugs like Ozempic and Wegovy have been all the rage lately, but with the holiday season wrapping up, so are weight-loss scams. Experts say now is the time when ads promoting “miracle” weight-loss cures start popping up in droves, looking to take advantage...
Apple’s stock needs to get ‘unstuck’ — and its innovation rut may not be helping
Apple Inc. appears to be in an innovation rut and that’s one reason a D.A. Davidson analyst is taking a cautious view of the stock. Analyst Gil Luria picked up coverage of Apple shares AAPL, -0.64% with a neutral rating late Tuesday, warning that the company needs to...
Improve your fitness and health with workout — and it’s free
I enjoy walking for miles and miles if it is flat, but when I recently had to climb up a set of steep steps to a T station in the Boston suburbs, I was winded. Not to mention embarrassed when my companion was breathing just fine. Chagrined, I hit the stair climber at...
Disney says Blackwells Capital to nominate three people to its board at 2024 annual meeting
Walt Disney Co. said Wednesday that Blackwells Capital LLC has informed the company it plans to nominate three individuals for election to Disney’s board at its 2024 annual shareholder meeting. Disney DIS, -0.01% said that it has an “experienced, diverse, and highly...
Interest-rate moves depend on data, and hikes can’t be ruled out: Fed’s Barkin
The timing and pace of any changes to interest rates this year — including possible rate hikes — will depend on the economic data, Richmond Federal Reserve Bank President Tom Barkin said Wednesday. Conviction about whether inflation continues to ease and whether the...
Should you cancel Netflix, Disney+, Costco or Spotify? Ask yourself this one question.
Wondering where all of your money is going each month? Your subscriptions may be bleeding your budget dry. About half of American adults (47%) say they’re looking to make a financial resolution for 2024, according to a December WalletHub survey. And if trimming some...
Opinion: Why ‘Dry January’ is a bad idea
Let’s face it: America has a drinking problem. As in too many of us consume way too much alcohol and pay the price in terms of our health, our careers and our relationships.And yet, I am skeptical about Dry January. By now, I’m sure you know all about this challenge...
SpaceX starts 2024 with launch of first Starlink direct-to-cell satellites
Elon Musk’s SpaceX made its first launch of 2024 late Tuesday, sending its first Starlink direct-to-cell satellites into orbit. The private space company launched 21 Starlink satellites atop a Falcon 9 rocket from Vandenberg Space Force Base. Six of the satellites...
Job openings slide to 32-month low as U.S. hiring boom fades
The numbers: Job openings fell in November to a 32-month low of 8.8 million in another sign that a prolonged U.S. hiring boom is fading in response to higher interest rates. Job listings slid from a revised 8.9 million in October, the Labor Department said Wednesday....
Oil prices turn higher after deadly blasts in Iran
Oil futures turned higher Wednesday after Iran state media reported that explosions near a cemetery killed more than 70 people. Traders have so far largely looked past shipping disruptions in the Red Sea and the threat of a wider war in the Middle East to focus on the...
4 things the best diets of 2024 have in common — and where Ozempic fits in
Losing weight is one of the top New Year’s resolutions that people make year after year, and with good reason. Roughly two in three U.S. adults (69%) are overweight or obese, and the diet industry tipped the scales at $76 billion last year, the Wall Street Journal...
I have a $2 million pension and $1 million investment account. I’m not retired, but should I claim Social Security when I do?
Dear MarketWatch, I have a pension worth $1.5 to $2 million depending on my and my wife’s longevity. It passes to her when I die, and she is six years younger. I am still working part time, and earn about $75,000 a year. I plan on retiring in 1.5 years when I reach...
My sister and her ex-husband promised, in their divorce decree, to repay my loan. They never did. Is this legally binding?
Dear Quentin, Twenty years ago, my sister’s husband left her. She had two small kids, and lots of debt. I was in the position to loan her money to pay off those debts. Their divorce decree mentioned that each was to pay me back half. Of course, they never did. Fast...
Disney strikes deal with ValueAct as it seeks to stave off billionaire Nelson Peltz
The Walt Disney Company and activist investor ValueAct Capital Management L.P. said Wednesday they have entered a confidentiality agreement as the entertainment giant continues its proxy fight with rival firm Trian Fund Management, led by billionaire Nelson Peltz. The...
Verizon’s stock could see big gains in 2024, this new bull predicts
Verizon Communications Inc. shares eked out a 3% increase in 2023 to notch their first positive annual performance in five years. Could bigger gains be in store for 2024? KeyBanc Capital Markets analyst Brandon Nispel seems to think so, upgrading the...
U.S. mortgage demand remains tepid as rates inch upwards
The numbers: U.S. mortgage applications dropped as home buyers continue to struggle with low inventory, offsetting the impact of falling rates. Mortgage rates are relatively lower yet that did not boost home-buying and refinancing demand in recent weeks. The overall...
Retirement reinvention doesn’t have to cost a fortune. Here are some options.
There’s not much in the way of a guide to figuring out what comes next after retiring from a full-time job. There are, however, terrific reinvention programs from institutions like Harvard, Stanford, Notre Dame, the University of Chicago and the University of Texas —...
Treasury yields move higher as traders rein back rate cut optimism ahead of Fed minutes
U.S. bond yields rose on Wednesday as traders continued to rein in bets on a swift reduction of borrowing costs by the Federal Reserve during 2024.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y added 1.7 basis points to 4.349%. The yield on the...
These 3 flashpoints could spark wider Middle East war that markets can’t ignore
Oil traders are, for now, looking past rising tensions in the Red Sea. But that may not last, a top Wall Street commodities analyst warned in a note Tuesday. Iran’s decision to send a warship into the Red Sea only briefly alarmed oil traders Tuesday, with crude prices...
Can you make money on Turo? Here’s how the car-sharing service works.
Quick facts about Turo The peer-to-peer car-sharing marketplace lets car owners and enthusiasts rent their vehicles to others in the U.S., Canada, Australia, the U.K., and France. Turo’s rental marketplace is safe to use, and listings include everything from luxury...
U.S. stock futures extend sell-off as 10-year Treasury yields rise to near 4% ahead of Fed minutes
U.S. equity-index futures were again lower after the previous session saw high-flying technology stocks suffer a sell-off amid concerns the recent rally has come too far too fast.How are stock-index futures trading S&P 500 futures ES00, -0.18% dipped 9 points, or...
Horizon Aircraft CEO to become chairman after SPAC merger
Robinson Aircraft, which does business as Horizon Aircraft, said that Chief Executive Brandon Robinson would become chairman after it goes public. Horizon, which is developing hybrid-electric vertical take-off aircraft, is set to merge with special-purpose acquisition...
BrightSpring Health Services files for IPO
BrightSpring Health Services has filed for an initial public offering. The home and community-based healthcare services platform didn’t provide details Tuesday on how many shares it would offer, pricing, or estimated net proceeds in its regulatory filing. BrightSpring...
How December Fed minutes could shake up investors’ rate-cut expectations
Traders kicked off the new year by clinging to expectations for up to seven quarter-point rate cuts from the Federal Reserve this year, or more than twice as many as policymakers have telegraphed. Those expectations have the potential to be readjusted as the result of...
Fisher Investments denies WSJ report that it’s in sale talks
Money-management firm Fisher Investments late Tuesday denied a report that it’s in sale talks with private-equity firm Advent International. The Wall Street Journal, citing sources familiar with the matter, reported Tuesday that acquisition talks were underway. No...
Wall Street bull warns of pause in rally but sees S&P 500 grinding higher in 2024
U.S. stocks are likely to start 2024 with a breather and to remain data-dependent until the start of fourth-quarter earnings season, as a bull run that saw the three major indexes post double-digit growth last year may lose steam in early January, according to...
Supreme Court could decide to take Trump ballot-access case as soon as this week
The Supreme Court may as soon as this week take up a case about former President Donald Trump’s ability to again run for the White House, and decide within days if the current Republican frontrunner is eligible. The high court is poised to hold a regularly scheduled...
Bitcoin could hit $80,000 by year-end, says this prominent asset manager
Bitcoin could reach an all-time high in 2024, with the potential to end the year at around $80,000, according to analysts at AllianceBernstein. The crypto BTCUSD, +3.62%’s price will likely be driven higher this year by the potential approval of an exchange-traded...
Government shutdown looks likely this month, analyst warns
A new year often sparks optimism, but in Washington 2024 is starting off with warnings that a partial government shutdown could hit in a couple of weeks. The Democratic-run Senate and Republican-controlled House of Representatives face a Jan. 19 deadline to make a...
‘One of the most aggressive rallies’ in markets in decades flipped bond losses into 2023 gains, Deutsche Bank chart shows
Late October marked the start of “one of the most aggressive rallies” in markets over the last few decades, with “massive” returns across assets into year-end turning bond losses into gains, according to Deutsche Bank Research. “It was a positive year for most...
Here are 5 questions that investors should be asking as 2024 begins
Perhaps the most pressing: will behavior in the financial markets return to something more closely approximating normal in 2024? At least one prominent Wall Street strategist expects the answer to that question is “yes.” “The focus in 2024 shifts from 2023’s recession...
This year, resolve to pack a ‘go bag’ to be ready for the next disaster: Here’s what to put in it
With all the natural and man-made disasters filling our lives, the possibility that your home may be part of the next wildfire, earthquake, blackout, flood or medical emergency seems more likely every day. Disaster means a possible evacuation. Are you ready to depart...
Apple’s stock suffers biggest drop in 4 months after ‘sell’ call from Barclays
Shares of Apple Inc. are starting 2024 with a selloff, after Barclays analyst Tim Long said it was “time for a breather,” citing weak hardware sales as iPhone 15 demand disappoints. “We are still picking up weakness on iPhone volumes and mix, as well as a lack of...
Opinion: Americans feel worse about the economy than they should
The U.S. economy has recovered from the COVID pandemic reasonably well, yet President Joe Biden is getting little credit and could even lose his job in 2024. Third-quarter GDP growth scored at 4.9%; the Federal Reserve has enjoyed considerable success pulling down...
Moderna’s stock soars after Oppenheimer upgrades to buy
Moderna Inc.’s stock soared 10% Tuesday to lead S&P 500 index gainers, after Oppenheimer upgraded the stock to the equivalent of buy and said it expects the biotech to have five products approved by 2026. Analysts led by Hartaj Singh upgraded the stock MRNA,...
U.S. construction spending rises for 11th month in a row in November
Construction spending rose in November as companies and the government continued to ramp up projects across the U.S. Spending on construction projects rose 0.4% in November to $2.04 trillion, the Commerce Department reported Tuesday. The figure fell short of...
Fidelity believes its stake in X, formerly known as Twitter, is now worth 71.5% less than when Musk bought it
Fidelity has again marked down its stake in Elon Musk’s social media platform, formerly known as Twitter though now called X, which the money manager helped him purchase for $44 billion. Fidelity Blue Chip Growth Fund had valued its stake at nearly $20 million in...
AMC CEO slams ‘prophets of doom,’ says company is ‘blazing new trails’
AMC Entertainment Holdings Inc. CEO Adam Aron has slammed the “prophets of doom” who expected to see the company’s demise in 2023. “To the prophets of doom certain that AMC would fail as a company and be forced into bankruptcy court in 2023: It is December 31, so we...
Tesla is getting beat by China’s BYD on EV sales
Tesla Inc. has been knocked off its perch as the elective vehicles leader, after delivery data showed that China-based auto giant BYD Co. is now beating Tesla in the EV game. BYD BYDDY, +0.38% 002594, -2.73% said over the long weekend that it sold 190,754 battery...
How to recover from your holiday-spending hangover in the New Year
Christmas is over. The presents under the tree have long disappeared and the New Year is here — but now the number on your monthly credit card bill may be downright disturbing. If you’re wincing at how much you spent in the last two months of 2023, then you’re not...
S&P 500 futures slide as bond yields move higher, Apple downgraded
U.S. stock index futures Tuesday indicated Wall Street will start the new trading year on a negative note after a 2023 rally that left the S&P 500 just shy of a fresh record.How are stock-index futures trading S&P 500 futures ES00, -0.82% fell 37 points, or...
A stock investor’s guide to the first trading days of 2024
Be on guard in coming days for soothsayers who base their 2024 predictions on how the market performs in early January. The first trading sessions of a calendar year carry no more predictive ability than those at any other time of the year— which is to say it tells...
Why investors should be wary of New Year ‘head fakes’ that may be pointing at this asset class
The first trading day of the New Year is setting up as a challenge to the Santa Rally theory, as stock index futures tilt south and bond yields rise. Now investors are waiting for the minutes of the Federal Reserve’s last meeting due on Wednesday and the U.S. December...
Oil prices rise as Iran sends warship to Red Sea after U.S. destroys Houthi vessels
Oil futures rose Tuesday to kick off the new year after an Iranian warship entered the Red Sea, heightening tensions and fears of crude supply disruptions sparked by attacks on shipping by Iran-backed Houthi rebels in Yemen.Price action West Texas Intermediate crude...
‘He broke down in tears’: I gave my contractor $100,000 for materials, but he used it to pay off his debts. What can I do?
I’m in a home-renovation nightmare. My interior designer accepted $100,000 in payments for appliances, cabinets, flooring, fixtures and hardware but never paid the vendors for those items. When confronted he broke down in tears, and confessed that he needed to use the...
Treasury yields move higher as traders eye raft of U.S. jobs data in coming days
U.S. bond yields rose early Tuesday as traders eyed a raft of important economic data in coming days.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y rose by 5.4 basis points to 4.308%. Yields move in the opposite direction to prices. The yield on the...
10 great places to live in the Midwest
Each year, Livability publishes our research-based Top 100 Best Places to Live in America. The list is based on more than 50 data points and examines more than 2,000 cities to rank the best places to live in the U.S. Here, we’re highlighting the top places to live in...
10 top all-wheel-drive vehicles you can get for under $30,000
If you’re in the market for a new all-wheel drive vehicle, now is a great time, as there are some incredible values. From light pickups to SUVs and even a couple of sedans, there’s something here to suit nearly anyone — just in time for winter weather. Better still,...
Bitcoin climbs atop $45,000 for the first time in more than a year as ETF hopes build
Cryptocurrencies got off to a strong start for 2024, notably bitcoin, which surged past $45,000 on Tuesday, to reach a level not seen since April 2022. Bitcoin BTCUSD, +4.75% jumped to $45,296, after finishing 2023 at just over $42,500. Excitement surrounding the...
Opinion: What to stream in January 2024: ‘Masters of the Air,’ ‘Echo,’ ‘Griselda’ and more
As the calendar flips to 2024, the streaming world looks more expensive and less expansive than a year ago.Changes are everywhere: Most of the major streaming services have raised prices over the past year; Amazon is adding commercials to Prime Video in January;...
Video appears to show Panthers owner David Tepper throwing drink on opposing fan
Billionaire investor and Carolina Panthers owner David Tepper was caught on video Sunday apparently throwing a drink on an opposing fan. A video making the rounds on social media Sunday appeared to show Tepper, standing in a luxury box, tossing a drink at a nearby...
So much for ‘the January effect’: Here are five things that could interrupt the U.S. stock market rally in early 2024.
U.S. stocks capped off a wild 2023 with a two-month sprint that has carried the Dow to record highs and the S&P 500 index to within a whisker of a similar milestone. But after such a powerful advance, some portfolio managers and strategists are concerned that the...
Ready for New Year’s Eve? 6 sparkling wines to toast 2024
It’s getting to be time to break open the bubbly. Yes, New Year’s Eve is upon us. And that means people will be looking to toast the new year with a sip of Champagne or another sparkling wine. Americans certainly have a taste for the fizzy stuff. The U.S. is the top...
4 retirement resolutions for younger workers just starting their careers
The new year is a great time for younger workers to set themselves up for future financial security — even those who are still decades away from retirement. In fact, the sooner they start, the better. Now’s the perfect time for even entry-level workers just starting...
Opinion: This fast-growing country is taming inflation and its stock market is calling
From our recent travels around India, it appears that the world’s most populous country could be poised for long-term growth. An infrastructure boom is evident, government policies are making India an attractive destination for companies to uproot supply chains from...
Retirees struggling to stay afloat: How to keep health and economic issues from draining your savings
Dorri Olds, a 61-year-old freelance writer and graphic designer, says she has spent nearly all her savings to refurbish her New York City apartment. In an emergency, she says she would sell it and consider retiring outside the U.S., possibly in a country like Costa...
Opinion: Work is more dangerous for young people. Here’s what employers can do about it.
Think about your first job. Maybe it was delivering pizza, bagging groceries, busing tables or doing landscaping work. Did you get enough training to avoid potential injuries? Chances are, you didn’t, and your boss or supervisor just told you to get to work.Employing...
How do we find the right place to retire? Here’s a guide for couples.
It’s a knotty question for many couples in, or near, retirement: Where should we live?I recently saw this play out in the virtual Right Place Workshop that “Right Place Right Time” author Ryan Frederick conducted for eight people in their 60s and 70s. Most were...
A big, messy crypto ‘cleanup’ could pave way for new guard to take over in 2024
After what industry participants are calling a big, messy “cleanup” of the digital asset industry, crypto bulls are hopeful that the fledgling space will be anchored by more established, regulated players in 2024. Crypto investors may end up remembering 2023 as the...
I divorced 5 years ago. Is it too late to negotiate who pays what for college?
Got a question about Series I bonds or other fixed-income investing, how it fits into your overall financial plan, and what strategies can help you make the most out of your money? You can write me at beth.pinsker@marketwatch.com. My awful divorce was finalized in...
Not all ‘high-yield’ savings accounts have kept up with rising interest rates, so it may be time to make a change
Once again, the market is moving, the year is ending and forecasters are telling you what will (maybe) happen next year. It’s tempting to shake things up with your money, especially if returns have been disappointing. And it might be time. But the markets may not be...
How to check out a charity to see where your donated dollars go
With the year’s end now on the horizon, millions of Americans are getting out their checkbooks, credit cards and digital wallets to make their annual donations to nonprofit organizations.Charitable giving in the U.S. amounted to almost $500 billion in 2022, with...
The 10 days that moved the stock market the most in 2023
The U.S. stock market was heading into year-end with a head of steam, pushing the S&P 500 index ever closer to record territory. In a look back at 2023, data provider FactSet took a look at the biggest daily market moves in both directions. Feb. 21: -2% March 9:...
Flooded U.K. tunnels force Eurostar to cancel all London trains Saturday
Flooding in railway tunnels in southeastern England forced the cancellation of all trains linking London with the European mainland on Saturday, international rail operator Eurostar said, disrupting New Year holiday travel for thousands of passengers, the BBC and...
L’Oreal heir Francoise Bettencourt Meyers becomes first woman with $100 billion fortune
Francoise Bettencourt Meyers, the granddaughter of the founder of French beauty brand L’Oreal, cracked the $100 billion barrier — becoming the first woman to boast 12-figure fortune. Bettencourt Meyers, 70, jumped to the No. 12 spot on the Bloomberg Billionaire’s...
Planning to retire in 2024? Do this one thing now.
Google “preretirement checklist” or something similar, and you’re apt to get a lot of hits for articles about basic “block and tackle”-type things like health insurance, long-term care, investing, minimizing taxes and creating a budget.And all of that is important....
25 states will raise their minimum wage in 2024. Will it be enough?
Minimum-wage workers in half of the country will see their pay go up in 2024 — but it likely won’t be enough to keep up with the cost of living. Minimum-wage increases will go into effect in 22 states on Jan. 1, and three additional states will raise their minimum...
Here’s what’s new on Amazon’s Prime Video and Freevee in January 2024
Amazon’s Prime Video has some big-name originals to go along with a huge slate of movies in January 2024. Nicole Kidman stars in “Expats” (Jan. 26), a six-episode miniseries based on Janice Y.K. Lee’s 2016 novel “The Expatriates,” about a tight-knit group of expat...
Is this the end for high annuity yields?
Plunging long-term interest rates over the past three months have the stock and bond markets cheering at the end of 2023. But not everyone is a winner. Payout rates on income annuities — insurance products that convert a pile of savings into a lifetime pension — have...
The last Powerball jackpot of the year is $760M — here’s what to do if you win
The first rule of winning the lottery is: You don’t tell anybody that you won the lottery! With the final Powerball jackpot of the year reaching an estimated $760 million, which is being drawn on Saturday night, it’s tempting to daydream about immediately putting in...
Health of U.S. labor market looms large on markets’ radar this coming week
Investors and economists would probably welcome a slow return to the working world world this coming week but sadly that’s not likely to happen. Next week is packed with important U.S. economic data and Federal Reserve speakers that will test the markets’ belief that...
Here’s everything new coming to Netflix in January 2024 — and what’s leaving
Netflix has a slew of new series and movies from big-name stars in January 2024. Emmy nominee Sofia Vergara, best known for the sitcom “Modern Family,” takes a much darker turn with the crime drama “Griselda” (Jan. 25), playing a real-life Miami cocaine kingpin (or it...
Traders that fueled stock-market rally are now nearly tapped out, Goldman says
After helping to push U.S. stocks’ higher in November and December, trend-following trading firms known as CTAs are nearly tapped out, according to a report published by a Goldman Sachs Group trading desk. That could limit further upside for the market, although the...
L.A. office building sells for $153.5 million — $115 million less than a decade ago
Newmark Group Inc. said Friday it arranged the sale of the 62-story Aon Center in downtown Los Angeles for $153.5 million in what the real-estate-development company described as the largest fourth-quarter deal for office space in the Western United States. Carolwood...
Falling behind on retirement savings? 4 steps to get back on track in 2024.
For a substantial number of people approaching retirement, the future looks grim. Their savings rate is low, their anxiety level is high and they aren’t even sure they’ll be able to retire at all.More than one in five adults — 22% — have no retirement savings,...
What should you expect for the stock market in 2024?
Investors have been enjoying quite a run-up into the end of the year. Take a look at this chart showing how the S&P 500 and its real-estate sector have performed this year through Thursday: FactSet Since its low for the second half of 2023 on Oct. 27, the S&P...
Crypto miner Marathon Digital’s stock falls 18%, nears worst day since January
Shares of crypto miner Marathon Digital Holdings fell nearly 18% to as low as $23.07 on Friday afternoon, putting the stock on pace for its worst day since Jan. 18 after logging an impressive rally earlier this month. Marathon’s stock MARA, -16.44% rebounded slightly...
Uber and Lyft shares rallied in 2023 but may not go much higher, analysts say
Shares of Uber Technologies Inc. and the ride-hailing giant’s smaller rival, Lyft Inc., have sprinted higher this year. But analysts on Friday suggested there might not be much left in the tank for either stock heading into 2024. Nomura analysts Anindya Das and...
These mutual fund and ETF tips can set up your portfolio for a happy new year
Don’t miss these top mutual fund- and ETF-related features: Sign up here to get MarketWatch’s best mutual funds and ETF stories emailed to you weekly!INVESTING NEWS & TRENDSThese ETF strategies won big in 2023. How one analyst sees them doing next year. ETFs...
Here are the 20 worst-performing stocks among the S&P 500 in 2023
(Updated with Friday’s closing prices.) The U.S. stock market staged a remarkable rally in 2023, but 178 stocks in the S&P 500 were still down for the year. Here’s a roundup of how well the 11 sectors of the S&P 500 fared, with broad indexes below: Healthcare...
Is it better to set up a trust for my grandchildren or just lend them money?
Dear Harry, I’m interested in setting up a revocable life insurance trust. I’d like to know if any money given to grandchildren as a loan by the trust is taxable, since it’s not a gift. For instance, if they need $40,00 for education, a down payment on a house or to...
The financial impact of Alzheimer’s: How retirees and caregivers can prepare
We often avoid difficult financial conversations until they become unavoidable, which is always too late. This also tends to hold true for discussions about our health and the health of our loved ones, particularly when it comes to diseases like Alzheimer’s and other...
New York State legal cannabis market sales off to a slow start in first year
New York ended its first year of legal adult-use cannabis retail sales with about $150 million in revenue statewide, a relatively slow start for a fledgling regulated market that has been projected to one day reach well into the billions. New York wrapped up 2023 with...
Opinion: Tax-loss selling makes these beaten-down stocks worth buying
In an annual year-end ritual, investors have dumped many of their stock losers to offset taxable gains. This so-called “tax loss selling” can create buying opportunities in promising names. These stocks have been unduly punished by this temporary pressure, and can...
Follow these TikTok and YouTube creators for better financial health in 2024
We’re headed into a new year, which means many of us are making financial resolutions for 2024. But if you really want to up your money game, you can’t always do it by yourself. So where should you seek advice? Of course, MarketWatch’s social-media accounts — find us...
Is the stock market open on New Year’s Day? Will the post office deliver mail?
Happy New Year! As you’re recovering from ringing in 2024 on Monday, Jan. 1, keep in mind that many offices and services will be shut down — including U.S. financial markets. So if you’re wondering what’s open and what’s closed for New Year’s Day, then here’s a...
Fisker’s stock soars as EV maker to announce plan to boost sales, deliveries
Shares of Fisker Inc. charged higher Friday, after the electric vehicle maker said it will announce in January a plan to accelerate sales and deliveries. The stock’s rally bucked the weakness seen in the broader EV sector, as well as the broader stock market. As part...
I’m 56 and have $3.4 million in assets. I’m semi-retired, but my spouse, 64, has no savings. How do we move forward?
I am 56 years old and semi-retired. I was a single mother for many years, but I have managed to be quite successful during the 30-plus years working in corporate America. My total net worth is approximately $3.4 million, including my home, investments, and liquid...
These 20 stocks soared the most in 2023
The 2023 rally for stocks in the U.S. accelerated as more investors bought the idea that the Federal Reserve succeeded in its effort to bring inflation to heel. As of 10 a.m. ET on Friday, the S&P 500 was up 24.6% for 2023, following a 19.4% decline in 2022. (All...
Amazon’s stock looks to enter 2024 with a record-tying weekly winning streak
Shares of Amazon.com Inc. climbed back into positive territory for the week on Thursday, putting them on track to end the year with a record-tying weekly winning streak. After inching 0.03% lower over the past three sessions, the e-commerce and cloud giant’s stock...
Chicago business-activity index retreats in December
The Chicago Business Barometer, also known as the Chicago PMI, fell 8.9 index points to 46.9 in December. Economists polled by the Wall Street Journal had forecast a 50 reading. The index had jumped to 55.8 in November, the highest level in 17 months, after the end...
In the new year, retirees want to pay off credit card debt
The new year can offer the hope of a fresh start — and a fresh slate for credit cards. While only 10% of Americans aged 65 years and older made and kept financial New Year’s resolutions in 2023, 71% have made such resolutions for the quickly approaching new year,...
You won’t believe how much getting a babysitter on New Year’s Eve costs
Parents are gonna have to drop a lot of cash to watch the ball drop without the kids on New Year’s Eve. How much? Well, the average national rate for getting a babysitter this Dec. 31 is going to be around $30 per hour, according to estimates by UrbanSitter, a...
Growing concern over AI threats to election integrity as U.S. primaries approach
With the first presidential primary just weeks away, Alex Stamos already is bracing for problems at the ballot box. Stamos, the former chief security officer at Facebook who is now an adjunct professor at Stanford University’s Center for International Security and...
UnitedHealth to book $7 billion charge due to deal to sell Brazil operations
UnitedHealth Group Inc. disclosed Friday that it will book a charge of about $7 billion, following a deal to sell its Brazil operations to a private investor. The health insurer said the charge is a result of cumulative losses from foreign currency translation....
Hapag-Lloyd to continue diverting ships from Red Sea
German container shipping company Hapag-Lloyd said it will continue to divert its ships from the Red Sea, even as some of its peers plan to gradually increase transits through the area. A spokesperson of the German shipping company said the decision was made at a...
Opinion: AI could unleash mass unemployment and inequality. Tax the 1% to ease the pain.
European Union lawmakers recently reached a provisional agreement on a landmark regulation to mitigate the risks that artificial intelligence poses to humanity, and other countries seem ready to follow the EU’s lead. But this regulation does not address one of the...
Oil prices tick higher as crude heads for first losing year since 2020
Oil futures ticked higher on the final trading day of 2023 Friday, on track for the first losing year since 2020 as concerns about the demand outlook outweighed potential supply disruptions and efforts by OPEC and its allies to limit production.Price action West Texas...
We’re retired with $1.4 million in investments and two mortgages worth $200,000. Do we pay them off and risk raising our Medicare premium?
Dear MarketWatch, My wife and I are both retirees. As of now, we have an IRA worth $800,000-plus, which is untouched, and stocks worth $600,000. We are receiving pensions and Social Security, amounting to about $9,000 a month, but have two mortgages that aren’t paid...
Opinion: ‘All systems go’ for investors as stocks power 2023’s gains into 2024
The stock market, as measured by the S&P 500 Index SPX, has continued to move higher over the past week — ignoring the one big down day (70 points) and putting that in the rearview mirror. SPX has made new 2023 highs, and the all-time highs just above 4800 are...
The 2024 Porsche 718 Boxster: The 2-seater soft-top delivers driving nirvana
The 2024 Porsche 718 Boxster is the company’s most affordable soft-top, yet it still has plenty of great Porsche POAHY, -0.97% qualities. Pricing starts at $70,400.Porsche makes cars that are great to drive. They’re expensive, but the engineering that goes into them...
How pricey is the market? Just compare it with the January 2022 bull-market high.
The U.S. stock market is a better value today than it was at the bull-market peak in early January 2022. This is timely information because the stock market is now trading at, or slightly above, the levels it reached then. One of the hoped-for benefits of a bear...
‘I’m so freaked out’: I’m buying a house, but the home inspector found dead cockroaches and rat droppings. Should I bail?
I’m in escrow on a house I am buying, but I just had inspections done, and they found a dead German cockroach, as well as droppings and egg casings. The pest-control inspector seems to think it’s not an issue and says there is no obvious evidence of active...
FTC sues Grand Canyon Education, alleging ‘deceptive and abusive’ marketing practices
The Federal Trade Commission on Wednesday sued education-services company Grand Canyon Education Inc., which does much of its work with Phoenix-based Grand Canyon University, accusing the two entities of deceiving prospective students about program costs and...
Google settles $5 billion consumer-privacy lawsuit: report
Alphabet Inc.’s Google has agreed to settle a consumer-privacy lawsuit that alleged the company secretly tracked millions of people who thought they were browsing the internet privately, according to a Reuters report Thursday. The lawsuit sought at least $5 billion....
These ETF strategies won big in 2023. How one analyst sees them doing next year.
Hello! This is MarketWatch reporter Isabel Wang bringing you this week’s ETF Wrap. In this week’s edition, we look at ETF strategies that have exploded in popularity in 2023, and whether they will continue to gain momentum in the year ahead.Please send tips or...
60-40 mix of stocks, bonds on verge of historic gains ‘after being written off’
The traditional portfolio of stocks and bonds has been on a tear over the past two months as the S&P 500 nears a record high, but it’s the big gains in fixed income that stand out, according to Bespoke Investment Group. Fixed-income assets are typically the...
Treasury bond yields extend bounce after weak 7-year note auction
Treasury yields moved higher Thursday, extending their rise after a weakly received sale of 7-year notes in the final full trading session of 2023. Sifma, the finance-industry trade group, has recommended that U.S. bond trading close an hour early at 2 p.m. Eastern...
Oil prices extend pullback as Red Sea worries fade
Oil futures fell early Thursday as traders put worries over the potential for shipping disruptions in the Red Sea on the back burner, while failing to get a lift from data showing a drop in U.S. crude inventories last week.Price action West Texas Intermediate crude...
Boeing’s stock drops 1% after company urges inspections on 737 Max planes
Shares of Boeing Co. dropped around 1% on Thursday after the aerospace and defense company urged airlines and other operators to check for possible loose bolts on its 737 Max jets. The fresh issue with the family of single-aisle jets may affect the planes’...
Cathie Wood dumps Grayscale and buys bitcoin-futures ETF. Here’s why.
One of Cathie Wood’s exchange-traded funds has sold all its holdings of Grayscale Bitcoin Trust over uncertainty around whether the trust’s conversion to an ETF would be approved. Wood’s ARK Next Generation Internet ETF ARKW sold its remaining 2.25 million shares of...
Affirm’s stock could fall 40% in 2024 after soaring 400% this year, analysts say
Wall Street analysts seem to like buy-now-pay-later services company Affirm Holdings Inc., but most of them expect the stock to pull back — a lot — in 2024 after rocketing more than five-fold this year. The financial technology company has benefited immensely during...
Franklin Wireless’s stock rallies on heels of Sinnet Capital letter urging special dividend
Franklin Wireless Corp.’s stock was up by 8.7% on Thursday after 3.2% shareholder Sinnet Capital Partners requested a special dividend and a stock buyback. Sinnet Capital said Franklin Wireless FKWL, +10.03% should pay a special dividend of $1 a share, execute a $10...
Social Security’s leaders are failing us
The Social Security scandal got even worse this year.Social Security, the pension system on which nearly all of us will rely, hurtled closer to disaster this year after another twelve months of political inaction and disastrous returns on the fund’s investments.Stop...
Artificial intelligence may be ‘iPhone moment’ for Microsoft in price target hike, analysts says
Wedbush analyst Dan Ives on Thursday raised Microsoft Corp.’s price target on a bullish view for its Copilot chat bot and other artificial intelligence products. Ives compared Microsoft’s MSFT, +0.24% prospects in artificial intelligence (AI) to Apple Inc.’s AAPL,...
Pending home sales flat in November despite drop in mortgage rates
The numbers: Pending home sales were flat in November compared with the previous month, according to the monthly index released Thursday by the National Association of Realtors (NAR). The Pending Home Sales Index remained at 71.6 in November from the prior month....
Gold is ending 2023 with a record-breaking run. Here’s why.
Gold prices are ending a big year on an up note, ripping to another record this week as Treasury yields and the dollar extend declines on expectations the Federal Reserve will soon be cutting interest rates. Gold for February delivery GCG24, -0.40% closed at $2,093.10...
U.S. jobless claims rise for second straight week
The numbers: Initial jobless claims rose by 12,000 to 218,000 in the week ended Dec. 23, the U.S. Labor Department said Thursday. Economists polled by The Wall Street Journal had estimated new claims would rise to 215,000. Last week claims rose a revised 3,000 to...
U.S. trade deficit in goods widens in November for third straight month
Story developing. Stay tuned for updates here The numbers: The U.S. trade deficit in goods widened 0.8% to $90.3 billion in November, according to the Commerce Department’s advanced estimate released Thursday. Economists polled by Econoday were looking for the...
‘My friend is a die-hard feminist’: When her future husband asked her out, she insisted they split the bill. He said, ‘Great!’ Who should pay on a first date?
My best friends tell the story about when they met. He was her teaching assistant at university and he noticed her right from the start. He asked her out several times and she refused. My friend is a die-hard feminist. When she finally agreed she said she would go out...
One of the best-performing stocks of 2023 averted disaster to surge 1,000%
Quick, name the best-performing stock of 2023 so far. No, it isn’t related to artificial intelligence — although shares of AI-linked chip maker Nvidia Corp. NVDA, +0.28% have surged more than 200% thus far on the year. The so-called Magnificent Seven group of stocks,...
Opinion: 4 of the Magnificent Seven stocks are losing their mojo
“Combined with fundamental analysis, technical analysis can be a powerful tool,” The “Magnificent Seven” stocks: Amazon.com AMZN, -0.05% ; Apple AAPL, +0.05% ; Alphabet GOOG, -0.97% ; Nvidia NVDA, +0.28% ; Meta Platforms META, +0.85% ; Microsoft MSFT, -0.16% and Tesla...
Opinion: Spending New Year’s Eve in Times Square? That’s not on my bucket list.
Come New Year’s Eve, tens of thousands of people will cram into New York City’s Times Square to watch the ballyhooed ball drop and mark the start of 2024. For many in the crowd, it will be an item on their bucket list — that is, something they’ve convinced themselves...
Here’s a ‘solid contrarian idea’ for 2024, according to BTIG’s Krinsky
Some technical analysts with a bearish bent also recognize the runes look favorable for the S&P 500 following the latest surge. For example BTIG’s Jonathan Krinsky says the benchmark index may challenge 5,000 early n 2024. But let’s not get carried away. Krinsky...
10 great places to live in California
With a stunning diversity of landscapes, cultures and career opportunities, California is an unparalleled destination for anyone who wants to soak up everything life has to offer. From the sun-soaked beaches of the Pacific Coast to the majestic peaks of the Sierra...
The 2024 Buick Enclave review: A roomy and comfortable family cruiser
The 2024 Buick Enclave is a 3-row midsize SUV with a roomy, comfy, quiet cabin and loads of premium features. Pricing starts at $43,900. Buick views itself as a premium brand, falling somewhere between mainstream and luxury, and the Enclave follows this path. It’s a...
19 ways to save on your next car
In the current economy of higher interest rates and tighter credit, how can car shoppers save money when purchasing a vehicle? Use our checklist and money-saving tips to keep cash in your pocket and obtain the best car-buying deal. How to save money when buying a car...
Stock futures show S&P 500 opening just several points shy of record high
U.S. stock index futures were mixed early Thursday, but indicating the S&P 500 will open only a fraction short of a fresh record close.How are stock-index futures trading S&P 500 futures ES00, +0.01% rose 2 points, or less than 0.1% to 4835 Dow Jones...
This record-setting stock market rally is living on borrowed time
“Market-timers can’t get much more bullish, which is bearish from a contrarian stance.” The stock market’s rally has lost almost all support from contrarian analysis. That’s because most of the cash in equity portfolios that used to be sitting on the sidelines is now...
Opinion: How stock investors and traders can weather 2024
“An economic ‘soft landing’ appears to be in the cards.” The U.S. stock market’s year-end rally looks intact. Lately I have been focused on equity hedge-fund performance and the necessity of hedge-fund managers to preserve and enhance returns ahead of their Dec. 31...
Amazon’s Prime Video to start showing ads on Jan. 29
Subscribers of Amazon’s Prime Video have one more month before they start seeing commercials — or have to pay more to avoid them. In an email to subscribers this week, Amazon AMZN, -0.05% said “limited advertisements” will air with movies and TV shows on Prime Video...
Shares of semiconductor startup BaTeLab fall in Hong Kong trading debut
BaTeLab’s shares fell in their trading debut in Hong Kong, sliding below their initial offering price in a lackluster start for the Chinese semiconductor company backed by electric-vehicle giant BYD 1211, +3.90%. Shares of the Chinese integrated-circuit provider...
Why bitcoin may not see a ‘Santa Claus rally’
Happy holidays! Welcome back to the last installment of Distributed Ledger of 2023. This is Frances Yue, crypto and markets reporter at MarketWatch. Historically, stocks tend to see a so-called “Santa Claus rally,” which refers to a phenomenon where U.S. equities rise...
Opinion: Ed Yardeni: 12 reasons stock investors will see the S&P 500 hit 5,400 in 2024
Earlier this month, Barron’s highlighted the 2024 S&P 500 SPX targets for six investment strategists including yours truly. Our target is the highest at 5,400, based on projected S&P 500 earnings per share of $250 next year. Morgan Stanley’s Mike Wilson has...
Spreads tighten on ‘Magnificent Seven’ corporate bonds as investors take profits
Corporate-bond investors have been taking profits for five out of the seven so-called Magnificent Seven components of the S&P 500 SPX, according to pricing data. In a sign of stronger demand for their bonds, price spreads for the Magnificent Seven have tightened...
Equalweight S&P 500 and handful of key market gauges at or near ‘golden cross’
After being left in the dust by the Magnificent Seven, the other 493 members of the S&P 500 index appear to be making a comeback. See: A record share of S&P 500 stocks have underperformed the index in 2023 as ‘weirdest bull market in decades’ marches on An ETF...
Apple scores win in court to pause Apple Watch ban
Apple Inc. scored a legal victory Wednesday when a U.S. appeals court temporarily blocked a government commission’s import ban on popular Apple Watch models following a patent dispute with medical-technology firm Masimo Corp. The court’s order allows Apple to...
This Tesla bull expects another ‘volatile’ year for EV maker
Tesla Inc. is looking at another “volatile, idiosyncratic year” as it faces challenges in its core automotive business, with no high-volume new product in 2024 and increased competition for electric vehicles. That’s from Morgan Stanley analyst Adam Jonas, a known...
Dow Jones on track for record close as stocks nudge mostly higher
U.S. stock indexes were little changed on Wednesday, with the S&P 500 trading a fraction shy of a fresh record as investors continued to chase a year-end rally amid lingering optimism that U.S. interest rates will fall in 2024.How are stock indexes trading The...
Plug Power installs first hydrogen-producing system for Amazon
Plug Power Inc. said Wednesday that it has completed the first installation of an electrolyzer system at an Amazon.com Inc. fulfillment center, as the e-commerce giant looks to start producing hydrogen on-site, rather than getting it delivered. The...
11 dividend stocks with high yields expected to be well supported in 2024 per strict criteria
Investors have different approaches to stock dividends. Some have no interest in current income and would prefer companies to focus on growing their businesses, rather than distributing cash to shareholders. Others aren’t overly concerned about how high current...
Here’s the ‘magic number’ for mortgage rates that would ‘unfreeze the housing market’
Home prices have hit another all-time high, and mortgage rates have begun to fall — but that won’t be enough to revive the housing market just yet, according to one expert. Even though borrowing costs are dropping, drawing home buyers off the sidelines, the “lock-in...
A record share of S&P 500 stocks have underperformed the index in 2023 as ‘weirdest bull market in decades’ marches on
The S&P 500 index is closing in on a fresh record high as 2023 draws to a close. Unfortunately for stock pickers, many of the index’s constituents remain well below their highs from January 2022. This has led to a striking divide between the U.S. market’s “haves”...
New York Times files copyright-infringement suit against Microsoft and OpenAI
The New York Times on Wednesday filed a copyright lawsuit against Microsoft and ChatGPT creator OpenAI in a legal action expected to shape the debate over generative-artificial-intelligence technologies. In a suit that may have a wide impact on the future of the...
Tesla has ‘good mojo’ in China as the EV maker enters 2024, analyst says
The Chinese market is a standout for Tesla Inc. providing the electric-vehicle maker with “good mojo into 2024,” according to Wedbush analyst Dan Ives. “With the last week of December now here we believe Tesla is tracking slightly ahead of the 480k delivery unit...
Opinion: Working a second job or thinking about it? Consider this investment instead.
“A few key considerations as you evaluate which ‘hustle’ is right for you.” In the world of financial literacy, a few items and actions have emerged as meme-level villains: daily Starbucks coffee, eating avocado toast, renting an apartment instead of buying a home....
A financial adviser won a $489K sports bet. Now he’s paying off student loans.
After winning nearly $500,000 on a $5 sports bet, a New Jersey financial adviser said he is planning to follow some of the advice he gives to clients and put the money to good use. Travis Dufner, a 32-year-old adviser with Millstone Financial Group in Millstone, N.J.,...
Fed up with paying up for home insurance? What about self-insuring?
If you’re trying to control your blood pressure, brace for a spike when you pay your next homeowners insurance bill. The cost is soaring while the coverage is shrinking. Home insurers operate a cyclical business. There are multiyear periods when they compete hungrily...
2 investments to protect your money when inflation spins out of control
It doesn’t take long for a U.S. visitor in Colombia to appreciate the dangers of runaway inflation. They come to this realization even though, relative to historical examples of hyperinflation, Colombian inflation doesn’t particularly stand out. The country’s consumer...
My mother’s will leaves her house to her 2 kids and her 2 nieces, but she sold her home. Could these nieces come after us for the money?
My mother’s will states that her home is to be sold and the money divided — half goes to her two children and the other half goes to her late husband’s nieces. Mom now feels the nieces don’t deserve the money because they never helped or even visited her husband,...
I’m 76 with $73,000 in an investment account that has not increased in 2 years. Should I abandon the 50/50 strategy?
Dear MarketWatch, I’m a 76-year-old widow with a mortgage of $153,000, with $73,000 in investments and $20,000 in a high-yield savings account. My Social Security and very small pensions give me a monthly income of $3,400 per month. I am saving about $400 per month,...
Why you need more play in your life
Some days, when my life is too rushed and the world seems bleak, I think of that quote from playwright George Bernard Shaw: “We don’t stop playing because we grow old. We get old because we stop playing.” Then I stop and ask myself, “What have I done for fun this...
Important questions to ask when buying a used car from a private seller
You’ll likely have several questions when it comes time to buy a used car. What follows is a rundown of what to ask a seller before you’ve seen the vehicle, once you’ve looked at it, and when you’re ready to make an offer or take ownership. What to ask a private...
The 2024 Ford Escape and Escape PHEV review: Pricing, specs and more
The 2024 Ford F, +0.81% Escape is a practical compact SUV with a spacious interior, efficient hybrid options, and the latest tech features. Pricing starts at $29,345. The Ford Escape has a long history as a trusted SUV. The Escape has the virtues you’d expect from a...
S&P is moving to record territory. Here’s what stock-market investors should know.
It’s been a strange, if not historically long, trip for stock-market bulls, but after nearly two years, the S&P 500 is just a few points away from record territory. The S&P 500 SPX, the U.S. large-cap benchmark, rose 20.12 points, or 0.4%, to close Tuesday at...
Tesla reportedly will build revamped Model Y in Shanghai in 2024
Tesla Inc. is preparing to launch an updated version of its popular Model Y SUV at its plant in Shanghai, Bloomberg News reported late Tuesday. According to Bloomberg, the revamped Model Y will feature significant interior and exterior changes, and is expected to...
Posco shares climb in Seoul on joint-venture semiconductor project
Posco Holdings’ shares climbed after the steelmaker unveiled a joint venture project to produce rare gases for making semiconductors in South Korea. Posco 005490, +4.01% rose as much as 7.3% to 508,000 won ($391.85) in early trade Wednesday, outperforming the...
NetEase, Tencent shares rebound after China voices support for gaming industry
Recently beaten-down China online gaming stocks rebounded on Wednesday as Hong Kong markets reopened after a holiday to news of a more conciliatory tone on the sector by the top gaming regulator. Shares of NetEase Inc. NTES, +5.21% and Tencent Holdings Ltd. 700,...
Intel’s stock on pace for biggest percentage gain in 2 months, after Israel deal
Shares of Intel Corp. rose 4.7% Tuesday, lifted by the announcement of a $25 billion investment in Israel. Intel’s stock INTC, +4.82% is on pace for its biggest daily percentage gain since Nov. 16, when it rose 6.8%. The S&P 500 index SPX is up 0.4% Tuesday. The...
Crude oil sees first real ‘death cross’ since the pandemic plunge of early 2020
Charts of crude-oil futures have just flashed a bearish signal the likes of which hasn’t been seen since just before the plunge that preceded the demand destruction caused by the COVID-19 pandemic in early 2020. A bearish “death cross” pattern appeared Tuesday, with...
Manchester United’s stock rises after Jim Ratcliffe clinches 25% stake
Manchester United’s stock climbed Tuesday after British billionaire Jim Ratcliffe clinched his 25% minority stake in the iconic English soccer club. Shares of operator Manchester United Ltd. MANU, +2.95% rose 2.4%, outpacing the S&P 500 index’s SPX gain of 0.4%....
20 midcap stocks with 2024 upside ranging up to 62%, according to analysts
This is the third of a three-part series featuring lists of top stock picks among analysts working for brokerage firms. Part 1 screens large-cap stocks, led by Nvidia Corp. Part 2 screens small-cap stocks. When investors think about whether to increase their exposure...
20 favorite small-cap stocks for 2024 among Wall Street analysts
(This is the second of a three-part series featuring lists of top stock picks among analysts working for brokerage firms. Part 1 screens large-cap stocks, led by Nvidia Corp.) The 2023 stock-market rally has been led by the “Magnificent Seven” companies, which have...
Opinion: U.S. companies should look past politics and focus on selling products in China
China’s crackdown on domestic dissent, paranoia about espionage, persecution of private executives and harassment of foreign businesses have instigated widespread fear, pessimism and deflation. However, China is not Japan in the 1990s. It has a formidable export...
The ‘cool crowd’ is now making its way to Broadway matinees
For generations, Broadway fans have sought out prime seats for evening performances, firm in their conviction that a night out on the town is exactly that — an opportunity to celebrate the magic of theater, so long as it’s after sunset.And the matinee crowd? That has...
Treasury yields little-changed as final week of 2023 begins
Treasury yields were little-changed on Tuesday as investors settled in for what is expected to be a quiet final week of trading for 2023. Price action The yield on the 2-year Treasury note BX:TMUBMUSD02Y rose by 2 basis points to 4.352%, according to FactSet data. The...
Nvidia tops list of Wall Street’s 20 favorite stocks for 2024
Investors have driving quite a bounceback for stocks during 2023, and the trend for gains that started late in October has been gaining steam. Below is a list of the favorite stocks for 2024 among analysts working for brokerage firms. For perspective, take a look at...
U.S. home prices hit an all-time high in October, Case-Shiller says
Home prices in the 20 biggest U.S. metros rose for the ninth month in a row and hit a record high, due to a persistent lack of homes for sale. The S&P CoreLogic Case-Shiller 20-city house price index rose a seasonally adjusted 0.6% in October compared to the...
Intel’s $25 billion Israel investment ‘significant’ says finance minister
Intel Corp. is making a $25 billion investment in Israel, the country’s government said Tuesday, describing the move as “important and significant.” The chip giant’s investment comes after Intel secured $3.2 billion in incentives from Israel, according to Bloomberg....
A new all-time high awaits the S&P 500 as investors ‘buy into the euphoria,’ says this strategist
Investors would be forgiven for wanting to sit out in the waning days of 2023, given recent volatility and the high hopes riding on that so-called Santa Rally. That said, the setup is looking positive for Tuesday as trading gets underway in a shortened trading week....
Beaten-down small-cap stocks are roaring back. Why they could soar in 2024.
Small-caps, a long-suffering section of the stock market, are ending the year on a high note and could rally hard in 2024 if the Federal Reserve cuts rates, especially if the sector’s stellar performance in December has legs in the new year, analysts and investors...
Oil prices steady as worries over Red Sea disruptions ease
Oil futures were little changed Tuesday as U.S. traders returned from the Christmas holiday, losing ground as worries eased around the potential for significant disruptions to crude supplies as a result of attacks on shipping in the Red Sea.Price action West Texas...
My wife received a $1 million payout from her employer when she retired. Am I entitled to 50% of that if we divorce?
Dear Quentin, I have been with my wife since 1993. We lived together for a few years and, in 2004, we finally married. We are both in our 60s. When my wife retired, her company offered a one-time payout of approximately $1 million, which our financial adviser put in...
A buyer’s boots are made for walking into Nancy Sinatra’s Beverly Hills home
The Nancy Sinatra House, a veritable midcentury-modern time capsule in Beverly Hills, California, recently walked off the market. You might even say it speed-walked, having sold for $50,000 above the asking price in less than three weeks. Listed at $2,950,000, the...
Opinion: These unsung stock market heroes offer 9 favorite picks for 2024
Stock newsletter writers don’t pop up much on CNBC, but that doesn’t mean you should ignore these unsung market heroes. Many are great analysts with solid long-term records. So, each year around this time I ask some respected newsletter editors for their favorite...
U.S. stock futures rise after best weekly winning streak for S&P 500 since 2017
U.S. stock futures were pointing to a modestly higher open on Tuesday, following the longest weekly winning streak since 2017 for the S&P 500. But volumes are expected to be lower as many investors take an extended holiday break in a shortened week of trading.How...
Here are the 10 cheapest new cars of 2024
The idea of anything new being cheap is laughable to most of the country right now, as rising inflation and interest rates have conspired to make everything more expensive. Lucky for us, there is still a handful of new cars priced below $20,000 and more than a handful...
I’m 62 and single with a ‘mountain of debt,’ and a desire to start a business. Am I in a position to take a financial risk?
Dear MarketWatch, I am 62, single, in good health with no retirement in a job I do not like. My job stresses me out, and my boss may let me go at the beginning of the year. I am working on a business where the start-up cost has already been paid. I am so tired and...
The Magnificent 7 dominated 2023. Will the rest of the stock market soar in 2024?
2023 will go down in history for the start of a new bull market, albeit a strange one.Despite some year-end catch-up by the rest of the S&P 500 index, megacap technology stocks, characterized by the so-called Magnificent Seven, have dominated gains for the...
Manchester United football club announces deal to sell up to 25% of club to Jim Ratcliffe
British billionaire Sir Jim Ratcliffe has agreed to buy a 25% stake worth about £1.25 billion ($1.3 billion) in Manchester United soccer club, the BBC reported Sunday. As part of the deal, Ratcliffe’s Ineos Group will take control of the club’s football operations....
What’s open and closed on Christmas Eve and Christmas Day
Merry Christmas! A sacred event on the Christian calendar, Christmas falls on Monday, Dec. 25. Naturally, many government offices, businesses and services will be shuttered that day. There will be closures on Christmas Eve, Dec. 24, as well, though some of those are...
‘I’m cursed’: My friend canceled Christmas lunch — now we’re on the hook for a 50% restaurant deposit. He expects us to split it. Is that fair?
Dear Quentin, It’s happened again — I’m cursed. Last year, I was left with a Bûche de Noël for 10 friends — and nowhere to go for Christmas Day, and this year a friend canceled Christmas lunch, leaving me holding a 50% deposit I gave to the restaurant ($55 for each...
Here are some of the coolest volunteer opportunities for retirees
Mary Nimer of Brookfield, Connecticut, has helped with crowd control at the Super Bowl in Phoenix, walked a balloon in the Macy’s Thanksgiving Day Parade in New York and decorated floats for the Tournament of Roses Parade in Pasadena, California. This year, she has...
Opinion: Chip giant Micron is becoming another AI play for investors
Micron Technology Inc.’s return to revenue growth last quarter as it recovers from the memory-chip downturn was in part due to the boom in AI-related chips, putting more of a spotlight on the chip maker as another potential AI investment. On Wednesday, Micron’s fiscal...
These mutual fund and ETF investing tips put your portfolio in a giving spirit
Don’t miss these top money and investing features: Sign up here to get MarketWatch’s best mutual funds and ETF stories emailed to you weekly!INVESTING NEWS & TRENDS‘The switch was flipped’: ETF flows pick up as stocks, bonds head for 2023 gains U.S. stocks and...
Five obesity-drug trends to watch in 2024
The obesity drugs that powered huge investor gains in 2023 are poised to inspire more corporate dealmaking, scientific breakthroughs and better patient access in the year ahead, analysts say. Eli Lilly & Co. LLY, -0.28% and Novo Nordisk NVO, -0.74%, the dueling...
‘It’s low risk, high reward’: Small businesses are learning to use AI to boost profits and attract customers
Arion Herbert and his wife, Erica, started their recreational sports-league business in 2016. What started off as a way to gather friends and family outdoors quickly turned into a league with players and teams from all around Charlotte, N.C.The company, called Main...
‘We live in purgatory’: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. We earn $400,000 and spend beyond our means. What’s our next move?
I’ve been with my wife for 15 years. We’re in our 40s, have two children and are very happy. We both have good jobs and make about $400,000 a year combined. My wife’s grandfather made a decent-sized fortune for himself and left his kids a thriving business and sizable...
I’m looking for a place that has year-round mild, sunny weather and is near or on the water, and my budget is $125,000 — where should I retire?
Dear MarketWatch, I’m looking for a place that has year-round mild, sunny weather, ideally with low humidity, and is near or on the water. It should be relatively remote — something like a warm, sunny version of Alaska. I have $125,000 to spend. Esta Dear Esta,...
I’m 64, make $1,500 a month driving Uber and get almost $5,000 a month in pensions and Social Security — should I pay off my mortgage before I retire?
Hi, I’m 64 and getting ready to retire in one year. I owe approximately $165,000 on my house with no other debt. I have close to $850,000 in retirement savings, $2,200 a month from a pension, approximately $,2300 a month in Social Security benefits and $300 a month...
Holiday jeer: Package theft on the rise, with 113 million boxes stolen in 2023.
As the Amazon or UPS delivery truck lumbers off this holiday season, an unfortunate guest is increasingly paying American homes a subsequent visit — the package thief. With consumers buying more online than ever, industry watchers say the number of packages being...
These are the most hated assets on Wall Street — it might be the perfect time to buy them
The day will surely come when the managers of this news site replace me with an AI chatbot. (Voice from the peanut gallery: “How soon?”) But I have my backup plan ready. I’m going to launch a hedge fund, and my winning strategy is already lined up. I’m going to look...
I want to ask my family and friends to contribute $50 toward Christmas dinner. Is that bad etiquette?
I’m a longtime reader of your column and I never thought I’d be writing to you, but I guess here we are. I’ve had a hell of a year. I lost my job and found another one, split from my long-term partner and lost half of my social life, moved to a smaller house in order...
Worried about running out of money in retirement? Use your panic, author says.
When it comes to the biggest worry about retirement — that you will run out of money — author and podcast host Farnoosh Torabi can help. “If you’re somebody who’s in your 50s and you’ve made it this far without ever missing a mortgage payment — or, you know, not...
Rudy-nomics: From $50 million to bankruptcy, the financial fall of Rudy Giuliani
For a man who once parlayed his status as “America’s mayor” into an estimated $50 million fortune that consisted of a consulting business, major law firm and sprawling business interests, bankruptcy seemed an impossibility. Yet, that is where Rudy Giuliani found...
As you near retirement, scrutinize your Social Security statement
As you approach your 60s, you’ll want to open one of the few remaining pieces of snail mail that actually matters: your Social Security statement. The Social Security Administration sends these printed statements to pre-retirees every year. Never received it or...
Opinion: With inflation staying higher for longer, stocks are best for retirement savings
We have many reasons to believe U.S. inflation will remain elevated for several more years, and stocks may be your best option for long-term savings. During the 1990s and 2000s, the average annual increase in the consumer price index was about 2%. Americans benefited...
Opinion: The top 1% of Americans aren’t to blame for income inequality
“The belief that income inequality has risen sharply in the U.S. may be wrong.” For decades, the share of national income held by the top 1% in the United States has soared. Income inequality, which former U.S. President Barack Obama declared “the defining challenge...
ClearMotion secures order from EV maker Nio for suspension technology
ClearMotion, which makes road sensing software to improve suspension in vehicles, said it had secured a production order from global electric vehicle company NIO. The production order is for three million units of ClearMotion’s patented suspension technology which...
What is the best way to leave my estate to a non-U.S. citizen?
Dear Harry, I am a U.S. citizen. I would like to leave my estate to my brother. He lives outside the United States and has no status in the United States — no Social Security number or green card. My estate consists of cash, stocks, bonds, a Roth IRA and a 401(k)...
Here’s how 10 of Wall Street’s predictions for 2023 panned out
At this time of the year, it can be fun to look at the predictions for the coming year — for markets, politics or international events — and even to get out your own crystal ball. In the daily Need to Know column on Tuesday, Steve Goldstein summarized predictions for...
Opinion: Nvidia and AI changed landscape of the chip industry, as rivals play catch-up
This year’s artificial-intelligence boom turned the landscape of the semiconductor industry on its head, elevating Nvidia Corp. as the new king of U.S. chip companies — and putting more pressure on the newly crowned company for the year ahead.Intel Corp. INTC, +1.95%,...
Here’s how the 2024 presidential candidates say they’ll tackle elevated home prices
As homeownership looks increasingly out of reach for many younger Americans, what should the federal government do to make houses more affordable?Republican presidential candidate Nikki Haley faced that question at the last GOP debate, which took place Dec. 6. In...
Rules for RMDs have changed—here’s a guide on when and how to take them
A great feature of traditional individual retirement accounts and employer-sponsored retirement plans like 401(k)s is that their money can grow tax-deferred for years. But eventually, the tax piper must be paid. That’s when Required Minimum Distributions, or RMDs,...
Santa Claus doesn’t arrive on Wall Street until after Christmas
The odds of the stock market rising are stronger over the next six trading sessions than they are at any other time of the year. This period, encompassing the period beginning after Christmas and lasting through the first two trading sessions of January, is the only...
I inherited a $300,000 bank account. When I pay taxes on the interest, would my spouse be entitled to a share of the account if we split?
I received a $300,000 inheritance from my mother, which is in a separate account earning interest.If I’m married and we file taxes jointly, our joint income taxes would have to pay for these interest earnings. How does the interest earned affect the “separateness” of...
You’re retired and ready to learn a new skill. What’s the best skill to learn?
As you near retirement, you know what’s good for you: Keep busy, keep learning, keep developing new skills. But if you’re going to gain new skills, which skills should you learn? Depending on the type of skill you pursue, you can enhance your cognition, mental acuity...
Synopsys and Ansys in talks to merge: report
Shares of Ansys Inc. soared 18% in trading Friday on reports the company is in discussions to be acquired by Synopsys Inc. in a deal that would create a design-software behemoth. The potential deal would kick off 2024 with a mega-merger, even as the Federal Trade...
U.S. inflation falls by more than expected in November, bolsters case for lower interest rates from the Fed
The U.S. inflation rate, based on the Federal Reserve’s preferred personal consumption expenditure index, fell in November for the first time since 2020 and indicated that price pressures continue to subside.The PCE index dipped 0.1% last month, the government said...
Musk’s SpaceX hits rocket milestone in latest Starlink Falcon 9 launch
SpaceX marked a milestone for its reusable rocket technology in the early hours of Saturday when the company launched 23 Starlink satellites into low earth orbit from Cape Canaveral Space Force Station in Florida. The satellites launched from into cloudy skies atop a...
Trump blasts New Hampshire poll as a ‘scam’ after it shows Haley within 4 points of him
“‘FAKE NEW HAMPSHIRE POLL WAS RELEASED ON BIRDBRAIN. JUST ANOTHER SCAM!’” That line came in a social-media post Friday from former President Donald Trump, the 2024 Republican presidential primary’s front-runner, as he reacted to a new poll focused on the key state of...
Opinion: $1,400 for tickets to see ‘The Nutcracker’? Why I’m fine with skpping it.
It’s a seasonal ritual that countless families enjoy — getting dressed in their holiday finest and heading off to see a local production of the “The Nutcracker,” that candy-coated ballet that celebrates all things Christmas. It’s also a ritual that’s critical to the...
Opinion: These 5 tough principles can help keep AI under our control
Artificial intelligence has been quietly helping us for decades, with progress accelerating in recent years, but 2023 will be remembered as a “big bang” moment. With the advent of generative AI, the technology has broken through in popular consciousness and is shaping...
Spain’s ‘El Gordo’ is handing out $2.9 million in lottery winnings this year
MADRID (MarketWatch) — “Mil euros.” If you’re here in Madrid on Friday, then you won’t go far without hearing one of the kids from the San Ildefonso school singing their way through the winning lottery numbers. This year, the lottery pot, which attracts players from...
‘Santa Claus’ rally time for stock market? Why investors should dial back their expectations for this seasonal year-end gift.
Almost as predictable as the big jolly man himself, many on Wall Street are eagerly waiting for the so-called Santa Claus rally to further fuel stock-market gains that have already put investors in a holiday mood. As defined by the Stock Trader’s Almanac, the Santa...
Novo Nordisk, FDA warn of fake Ozempic
The U.S. Food and Drug Administration has seized thousands of units of fake Ozempic, the agency said Thursday, warning that some counterfeit units of the Novo Nordisk NVO, -0.19% diabetes drug may still be available for purchase. Novo Nordisk and the FDA are testing...
Biotech stocks set for a rebound in 2024, analysts say
A more favorable interest-rate outlook, an uptick in deals, and innovations in key areas like cancer and immunology are setting up biotech for a brighter 2024, analysts say. That would give investors some welcome relief after three tough years for the sector. In the...
More people fell behind on credit card bills this year. Here’s how rough it could get in 2024.
After more Americans fell behind on their credit card payments this year, 2024 delinquency trends could likely get worse before they get a little better. This year, credit card balances soared past $1 trillion for the first time, powered by rising prices and rising...
U.S. threatens penalties on foreign banks helping Russia evade war sanctions
The U.S. said Friday that it was moving to punish foreign financial institutions that are helping Russia evade sanctions put in place following its invasion of Ukraine. In an executive order signed by President Joe Biden, the U.S. said it was seeking to clamp down on...
Opinion: The inflation challenge of 2024
As 2023 draws to a close, there are many known unknowns – especially on the geopolitical front – and presumably as many unknown unknowns lurking on the horizon. Producing any forecast for the global economy is thus more difficult than usual. For their part, investment...
Treasury yields little changed after subdued U.S. inflation reading in holiday-shortened session
Yields on U.S. Treasurys held steady during Friday’s pre-holiday shortened session after data showed inflation continuing to slow in November and moving toward the Federal Reserve’s target.What yields are doing The yield on the 2-year Treasury note BX:TMUBMUSD02Y was...
Chasing the Santa Claus rally? Look out below!
It’s not complicated. Ordinary people want to buy more stocks in their retirement accounts only after the stock market has risen a long way. It’s basic psychology. We are chimpanzees, chimpanzees are pack animals, and our deepest instincts make us want to run with the...
U.S. durable-goods orders rebound in November by most since July 2020
The numbers: Orders for durable goods rose 5.4% in November, the U.S. government said Friday. This is the largest gain since July 2020. It is the second gain in the past three months. Orders were down 5.1% in the prior month. Economists had forecast a 2% rise in...
Karuna Therapeutics’ stock surges after $14 billion Bristol Myers
Shares of Karuna Therapeutics Inc. KRTX, +1.80% rocketed 48% into record territory in premarket trading Friday, after the biopharmaceutical company announced an agreement to be bought by Bristol Myers Squibb Co. BMY, +0.59% in a deal valued at $14 billion. Under the...
Here’s where the U.S. housing market is most overvalued
The housing market is overvalued in 88% of U.S. metropolitan areas, according to a new report by Fitch Ratings. The ratings agency said Wednesday that housing was overvalued by 9.4%, nationally, in the second quarter of 2023. The agency said it expects prices to...
Oil prices set for weekly gain as worries rise over Red Sea
Oil futures rose Friday, on track for weekly gains as concerns over shipping disruptions via the Red Sea provided support.Price action West Texas Intermediate crude for February delivery CL00, +0.72% CL.1, +0.72% CLG24, +0.72% rose 58 cents, or 0.8%, to $74.47 a...
How one small-business owner saved $75,000 in taxes
As a small-business owner who employs 15 people, James Clift has a lot of problems to solve, and taxes might be at the root of all of them. Taxes determine your business structure, your cash flow and your trajectory for raising capital. If you don’t manage them...
Tesla’s stock can rise to $1 trillion market value in 2024, analyst says
Tesla Inc. is poised to join the trillion-dollar club next year, defying growing Wall Street skepticism regarding electric vehicle demand, according to Wedbush analyst Dan Ives. The longtime bull on Tesla TSLA said the bear case on the company was that demand was...
A pile into stocks by U.S. investors may mean weak returns for years, says Wall Street veteran
Investors are bracing for a preholiday data dump that includes the Fed’s favorite inflation gauge, as the last full week of trading for 2023 closes out.Questions are being raised about whether the midweek plunge in stocks was random jitters, or the start of something...
The 2024 Lincoln Corsair review: luxurious, comfy, safe transportation that positively pampers
The 2024 Lincoln Corsair is a luxury compact SUV focused on passenger comfort. Delivering the American luxury experience, its compelling appeal is upmarket comfy, safe transportation. Pricing begins at $38,730. Still fresh off a recent update, Lincoln’s best-selling...
Consumers are feeling better about the economy. Is the ‘vibecession’ ending?
The bad vibes around the economy may finally be dissipating.Consumer confidence jumped in December to a five-month high of 110, according to the nonprofit Conference Board — a fresh sign of optimism from a survey that has shown continued signs of Americans’ economic...
Rocket Lab USA stock jumps on government contract for 18 vehicles
Rocket Lab USA stock rallied in premarket trade Friday as the company said it’s won a U.S. government contract worth as much as $515 million. In a Securities and Exchange Commission filing, it said agreed to design, manufacture, deliver, and operate 18 space vehicles....
Adidas, Puma, and JD Sports shares slump after Nike warning
Shares in the world’s top sportswear companies slumped on Friday after apparel giant Nike lowered its sales forecasts, warning of a drop in consumer spending, and outlined plans to make $2 billion worth of cost savings over the next three years. Adidas ADS, -5.71%,...
Elon Musk tells Cathie Wood he wants to make X a ‘giant brain’ and financial platform
Elon Musk says he hopes to turn X into a “giant brain” and pivot it into a financial platform once it secures money-transfer licenses. “We want to create a group mind or collective consciousness where each person is reporting information to the system, and giving...
In sign of possible funding stress, banks have been tapping a Fed facility set up after SVB’s collapse
Usage of a new Federal Reserve facility set up in the wake of the collapse of SVB Financial is starting to pick up after months of little change. The Bank Term Funding Program allows banks to borrow for up to one year by pledging collateral at par even when they’re...
Pace of Japan’s consumer inflation slowed in November
TOKYO — Japan’s overall consumer prices rose 2.8% from a year earlier in November, government data showed Friday. That was slower than the 3.3% increase in October but still above the Bank of Japan’s 2% target. Consumer inflation excluding volatile fresh food and...
Ionis, AstraZeneca get FDA approval for rare genetic disease treatment
Ionis Pharmaceuticals IONS, +1.61% and AstraZeneca’s AZN, +0.79% Wainua has been approved by the U.S. Food and Drug Administration for treating a symptom of a rare genetic disease. The FDA approved Wainua, which has generic name eplontersen, for the treatment of the...
NetEase shares drop 20%, Tencent stock skids on proposed China gaming rules
Shares of Chinese NetEase Inc. and Tencent Holdings Inc. fell sharply on Friday after authorities announced draft rules to crack down on spending and rewards in online gaming. In a statement, China’s National Press and Publication Administration, the top gaming...
Nike earnings: Recent stock surge provides a tough set up ahead of results
Shares of Nike Inc. rose Thursday, as investors expressed optimism ahead of the athletic apparel and accessories giant’s fiscal second-quarter results. The stock NKE, +0.44% climbed 0.4% in afternoon trading. It has run up 10.6% in December, which puts it on track for...
Opinion: Santa Claus is coming to town and bringing presents for your stock portfolio
The stock market, as measured by the S&P 500 Index SPX, continued to move higher and deeper into overbought territory. A price was paid for that on December 20, when a small amount of selling turned into an avalanche, costing the benchmark U.S. index more than 70...
Delinquency rates for U.S. government-backed loans rise in November and ‘is worth watching,’ expert says
U.S. homeowners are missing mortgage payments on some government-backed loans, according to a new report. Even though default rates remain low, past-due Federal Housing Administration loans hit a nine-year high in November, according to data from Intercontinental...
Angola leaves OPEC, raising questions about ‘unity and harmony’ within oil cartel
Angola announced that after 16 years of membership, it has decided to leave the Organization of the Petroleum Exporting Countries — raising concerns over the group’s weakening influence on the oil market.“Angola had no clout, no authority among OPEC circles and was...
Not sure what to do with your 401(k)? Maybe Warren Buffett can help you.
In a year like 2023, when the S&P 500 SPX was up about 23% and corporate bond funds had total returns of 8% or so, it’s been easy to be a bull-market genius. But since many years aren’t so terrific (looking at you, 2022), you may want to read books to make you...
Rite Aid is in trouble after its use of AI to stop shoplifting
Rite Aid Corp. has been banned from using facial-recognition technology driven by artificial intelligence to stop shoplifting after federal regulators determined it had falsely flagged a disproportionate number of women and people of color. In a settlement with the...
Mortgage rates fall for eighth week in a row, drawing buyers off the sidelines
Mortgage rates fell for the eighth week in a row, staying well below 7%, providing a much-needed boost to the U.S. housing market. The drop in the 30-year fixed-rate mortgage was the biggest in over a year. The 30-year averaged 6.67% as of December 21, according to...
These were the top tickers on Stocktwits in 2023
Electric vehicle makers and a meme stock darling featured prominently amongst the most viewed tickers on Stocktwits, a social platform for investors and traders, in 2023. The most viewed ticker on the platform was Mullen Automotive Inc. MULN, +49.38%, according to...
Why 2023 was a tough year for commodities even as gold and orange-juice prices hit records
A number of commodities made notable moves in 2023, with gold and frozen orange-juice prices reaching record highs, but key commodities indexes are on track to post their largest losses in five years, pressured by declines in natural gas, coal, and grains.The S&P...
Oil prices extend drop after reports say Angola to leave OPEC
Oil futures extended a decline Thursday following news reports that said Angola announced plans to exit the Organization of the Petroleum Exporting Countries after being required to lower its production quota in a contentious meeting earlier this month. Crude futures...
Economy still appears headed for recession, U.S. leading index signals
The numbers: The leading economic index declined 0.5% in November and fell for the 20th month in a row, and continued to signal a recession ahead. Economists polled by the Wall Street Journal had forecast a 0.5% drop in the leading index, a gauge of 10 indicators...
Jobless claims inch up to 205,000. Layoffs in the U.S. hover near record low.
The numbers: The number of Americans who applied for unemployment benefits last week inched up to 205,000, indicating layoffs remain very low during the holiday season and jobs aren’t especially hard to find. New jobless claims rose 2,000 from a revised 203,000 in the...
Virgin Galactic stock climbs more than 5%, continuing rollercoaster ride
Shares of Virgin Galactic Holdings Inc. climbed 5.9% in premarket trading Thursday, continuing their rollercoaster ride. The stock ended Wednesday’s session down 10.6%, registering its largest single-day percentage decline since Dec. 4, when it fell 17.5%. Virgin...
Philadelphia Fed manufacturing gauge weakens further in December
The numbers: The Philadelphia Fed said Thursday its gauge of regional business activity fell to negative 10.5 in December from negative 5.9 in the prior month. Any reading below zero indicates deteriorating conditions. Economists polled by the Wall Street Journal...
These are the space stocks to keep an eye on in 2024
From space tourism to rocket launch technologies, these are the space stocks to look out for in 2024.Justus Parmar, CEO of Fortuna Investments, a venture-capital and advisory company currently focused on space investments, sees Virgin Galactic Holdings Inc. SPCE,...
‘Embrace weakness’: Stock-market stumble welcome after FOMO rally, bulls say
A U.S. stock rally that went too far, too fast, saw major indexes post their biggest drop in months Wednesday — a welcome development to bulls looking for a pause to refresh a stretched market. Bears, meanwhile, contend the pullback is likely to prove the market rally...
It’s time to take profits, says strategist with top S&P 500 target for next year
A nine-day winning streak for stocks came to a grinding halt on Wednesday, just ahead of a holiday break. Some say the bulls had been running too hard and too fast, in the wake of the Fed’s pivot, as a market/central bank battle looms over just how many interest rates...
Sanofi suffers major blow as its cutting-edge cancer drug disappoints in Phase III trials
French pharmaceuticals giant Sanofi SAN, -0.39% on Thursday said it would be halting development of a promising cancer treatment after the cutting-edge candidate failed to show better outcomes than a widely-used chemotherapy drug in final stage trials. In a...
My mother’s late husband came with baggage — ‘his deadbeat son.’ Is she on the hook for his debts? Can she evict him from her home?
Ten years ago, my mother married a wonderful man. Unfortunately, her husband came with some baggage — a deadbeat adult son in his mid-40s. Sadly, my mother’s husband passed away about a year ago, and his deadbeat son is still living in the home. He has big problems...
Four out of five industry sectors are overbought, say Citi strategists
The stocks of nearly four of five industry sectors are at or near overbought levels, say strategists at Citi, as a separate market sentiment index from Morgan Stanley turned negative. Both are indicative of the huge rally from October lows that is showing signs of...
Bond yields rise from lowest level for 10-year in nearly five months
Bond yields rose on Thursday, heading in the reverse direction after the 10-year yield had declined to its lowest level in nearly five months.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y was 4.37%, up 3.7 basis points. Yields move in the opposite...
Should you get an SUV or a minivan? Here are the pros and cons of both.
It’s an age-old question that most parents will face at some point: SUV or minivan? Which vehicle works best for my growing family?Start this convo during moms’ night out, and it can get pretty polarizing. As a mom working in the automotive industry, I’ve had this...
S&P 500 futures bounce back after worst one-day slide in three months
U.S. stock futures pointed to opening gains on Thursday, following the worst one-day decline in three months.What’s happening Dow Jones Industrial Average futures YM00, +0.49% rose 160 points, or 0.4%, to 37605. S&P 500 futures ES00, +0.56% gained 25 points, or...
‘No one is throwing good money after bad.’ Why 2024 looks like trouble for commercial real estate.
Property owners pocketed billions of dollars by refinancing properties when rates were low. They aren't going to throw it away now.
These Wells Fargo workers just became the first at a major U.S. bank to unionize
Workers at a Wells Fargo & Co. branch in Albuquerque, N.M., voted to unionize on Wednesday, marking the first such vote at a major U.S. bank. The workers who participated in the election voted 5-3 in favor of joining Wells Fargo Workers United, which is part of...
Investors should do this in 2024 instead of chasing the S&P 500, says Wells Fargo
Investors should seize on the powerful 2023 year-end rally in stocks and bonds, and add value to their portfolios in other ways over the next six to 18 months, according to the Wells Fargo Investment Institute. The Dow Jones Industrial Average DJIA already carved out...
With Microsoft deal done, longtime Activision CEO Bobby Kotick says farewell
Longtime Activision Blizzard Chief Executive is set to leave the company, a little over two months after its acquisition by Microsoft Corp. In an email to employees that the videogame company made public, Kotick looked back with nostalgia on his 32-year tenure and...
FedEx is S&P 500’s worst performer today. These are the problems, analysts say.
FedEx Corp. was the S&P 500’s worst performer on Wednesday, after the package deliverer a day earlier trimmed its sales forecast and reported weaker-than-expected quarterly results. And as Wall Street picked apart the financials, many analysts — while still...
Google settlement: Here’s who’s eligible for part of the $700 million payout
If you bought an app on Google Play or made any in-app purchase between August 2016 and September 2023, you may be owed some money. Google GOOG, +2.63% GOOGL, +2.72% has agreed to pay $700 million and make several other concessions to settle antitrust allegations that...
Two-thirds of people on weight-loss drugs plan to eat healthy during the holidays
Will America’s growing use of weight-loss drugs result in a blue Christmas for food retailers and restaurateurs? That’s arguably one takeaway from a new survey from Numerator, a data and technology company. The report looked at the holiday dining habits of people who...
Fed won’t cut interest rates right away, Harker says
The president of the Philadelphia Federal Reserve said Wednesday the central bank doesn’t plan to cut interest rates soon because the job on reducing inflation is “not done.” Patrick Harker, in an an interview with radio station WHY, said he doesn’t think the Fed...
Opinion: Retirement is coming. How do you make yours a good one?
Not long ago, the company I founded, Berkshire Global Advisors, celebrated 40 years in existence. It was a joyful and fun-filled evening atop a Manhattan tower with old friends, colleagues, and clients taking an unforgettable trip down memory lane. Though I am not...
The year that wasn’t: 10 Wall Street forecasts for 2023 that didn’t pan out
Wall Street had a lot of expectations heading into 2023. Looking back 12 months later, it’s clear that most of them didn’t pan out. Wall Street strategists and economists have historically done a poor job anticipating what’s right around the corner. But as those...
Seven tech stocks that can broaden your exposure beyond the “Magnificent Seven”
During the bull market of 2023, the “Magnificent Seven” stocks have dominated financial media coverage, and rightly so. There is no question that this group of companies has been performing very well in their core businesses and analysts expect the good times to...
This company never serviced student loans in repayment. Now it’s handling 9 million accounts in an ‘unprecedented’ time.
For Jenna Crovo, figuring out her monthly student-loan payment has been “an absolute nightmare.” She says she struggled for months to obtain consistent and accurate information about her loans from Aidvantage, the student-loan servicer handling her loans, in the lead...
Buy FedEx’s stock on the big dip, analyst says
Shares of FedEx Corp. have fallen so much on the back of the package delivery giant’s earnings miss, that it has created an attractive buying opportunity for investors, one Wall Street analyst said. The stock FDX, -10.86% tumbled 10.7% in morning trading, enough to...
Brent crude oil climbs back above $80 a barrel as traders monitor Red Sea disruptions
Oil futures were on track for a third straight rise Wednesday, with the global benchmark pushing back above $80 a barrel, as traders monitored tensions in the Red Sea that have led to disruptions to global trade. Meanwhile, data from the U.S. government revealed...
Costco bonds attracting bullish activity
Costco Wholesale Corp. bonds have been seeing bullish activity recently, according to information from the market-data company BondCliQ. Data from BondCliQ show there has an uptick in net buying in Costco COST, -1.50% bonds in the last 10 days. The following chart...
Sticky inflation in a key part of the economy is the biggest barrier to Fed rate cuts
The Federal Reserve is winning the battle against high inflation, but the fight is not over yet, a parade of senior bank officials told Wall Street this week. Why the stern lecture? Fed insiders appear to have been taken by surprise by a big market rally after the...
General Mills stock sinks after sales miss, amid strong ‘value-seeking’ behavior by consumers
Shares of General Mills Inc. sank Wednesday, after the consumer-foods company missed fiscal second-quarter revenue expectations and lowered its full-year outlook as sales volumes have recovered at a slower-than-anticipated pace. “While many factors have evolved in...
U.S. stock futures edge lower after Dow notches 5th straight record close
U.S. stock-index futures were edging lower on Wednesday morning as Wall Street struggled to build on their year-end rally with fresh record in sight for the S&P 500 index. How are stock-index futures trading S&P 500 futures ES00, -0.19% were dipping 8 points,...
Choice Hotels urges Wyndham shareholders to accept buyout offer
Choice Hotels International Inc. has urged Wyndham Hotels & Resorts Inc. shareholders to accept the company’s unsolicited buyout offer, despite opposition from the Wyndham board. On Monday Wyndham’s WH, +0.64% board recommended that its shareholders reject the...
Chemicals giant BASF announces CEO shakeup as Europe’s gas crisis bites
The world’s top chemicals producer BASF BAS, -0.09% on Wednesday set out plans to shake up its board, as the company struggles to retain its profit margins in the face of Germany’s energy crisis and the global economic slump. The shakeup will see company insider...
Why the 60-40 portfolio is poised to make a comeback in 2024
Speculation that the 60-40 portfolio may have outlived its usefulness has been rife on Wall Street after two years of lackluster performance. But as the yield on the 10-year Treasury note BX:TMUBMUSD10Y hovers around 4%, some strategists say the case for allocating a...
What happens when Tom Cruise praises your product as a great holiday gift
Sure, you can shop till you drop in search of the perfect holiday gift for friends and family members. But it appears some consumers are finding an easier, if slightly expensive solution.They’re just following Tom Cruise’s lead and buying a decadent $125 bundt cake...
Inflation’s path will drive the stock market next year. Here’s one playbook.
There was new data out of the U.K. on Wednesday morning, showing prices falling more than expected, further evidence that a global disinflationary trend is under way. How far and how long inflation will last are the key questions now for a stock market that has...
Ten-year Treasury dips below 3.9% as U.K. inflation falls to slowest pace in two years
Bond yields in the U.K. and U.S. fell on Wednesday after slower-than-expected U.K. inflation added to hopes of easing price pressures and interest rate cuts by central banks.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y dipped 5.5 basis points to...
Opinion: Social Security benefits have been earned and will be in the future
Two of my friends — Andrew Biggs (“No, Social Security Isn’t Earned”) and Gene Steuerle (“Lifetime Social Security Benefits and Taxes”) — are making my brain ache. They are both arguing that people will get lifetime Social Security benefits far in excess of lifetime...
De Beers says its push to tackle the glut in the diamond market is now starting to work
De Beers on Wednesday said it expects to sell two-thirds fewer diamonds in the final sales cycles of 2023 than in the same period last year, as company CEO Al Cook said the gemstone seller’s push to limit supply is now showing signs it’s working to reduce the market...
I want to retire at 55 in a country with free health care. My spouse will draw Social Security, and I have $160,000. Are we crazy?
Dear MarketWatch, I am 51 and would like to retire by 55. I will only have about $125,000 in retirement accounts plus another $35,000 in non-retirement accounts. I plan on moving out of the U.S. as I have a house that’s fully paid for overseas. After living there a...
Here’s Deutsche Bank’s must-see chart on port vulnerability
““The modern world has not freed itself from distance and geography; it still relies on a network of vulnerable physical links. Few nonexperts are aware of those weak links and of the nonlinear effects that could unfold if the system is disrupted by long-tail...
Telefonica stock climbs as Spanish government to match Saudi stake
Shares in Telefonica rallied on Wednesday after the Spanish government said it would buy a stake of up to 10% in the country’s telecommunications giant, which would match the investment made by a Saudi Arabian company. Telefonica shares TEF, +4.80% TEF, +6.17% rose 5%...
Opinion: AI needs rules and standards, or it may end up being more risky than profitable
As a software industry CEO, I am excited about the power and potential of AI. Yet AI could go from a rising tide that lifts all boats to a perfect storm of unmanageable risk unless it is given effective guardrails and governance.With the surge in generative AI...
Tesla halting merit-based stock awards as part of compensation: report
Tesla Inc. has reportedly told some employees that merit-based stock grants won’t be included as part of overall compensation this year. Four salaried employees told Bloomberg News that no workers would get the stock awards that are usually given out. That was true...
Alibaba CEO Eddie Wu to take charge of company’s e-commerce business
Alibaba Group Holding Ltd. co-founder and Chief Executive Eddie Wu will take over as the head of the Chinese internet giant’s core e-commerce group. Wu will become CEO of Taobao and Tmall Group, Alibaba’s domestic e-commerce unit, effective immediately, the company...
Investor who called year-end stock rally says ‘Magnificent 7’ may continue to lead in 2024
The U.S. stock market will probably keep rising next year as investors increasingly move out of cash to chase the rally, with the S&P 500 index now almost back to where it was in early 2022, according to Morgan Stanley’s Andrew Slimmon. “We’ve gone nowhere for two...
Panbela Therapeutics’ stock soars on positive FDA news on child cancer treatment
Shares of Panbela Therapeutics Inc. skyrocketed again Tuesday, following positive news from the U.S. Food and Drug Administration regarding a treatment for child cancer. The biopharmaceutical company PBLA, +51.22% said Monday that the FDA approved US WorldMeds’ new...
Apple is no longer the favorite of kiddie stock traders, this is what replaced it
Macroeconomic indicators are murky these days, but there’s one bright spot on the horizon: Young investors learning long-term investing strategies are putting index funds ahead of individual stocks. At least, that’s what seems to be happening at Greenlight, an...
This one insight can transform your 401(k) — and it’s hiding in plain sight
I once waded through “Atlas Shrugged,” Ayn Rand’s interminable tome about libertarianism. It’s five times the length it should be, and I was left wishing that the story — which was, at heart, a brutal satire — had been written by someone like Evelyn Waugh instead. But...
Are you ready financially for a new year? How to set yourself up for success.
The end of the year is a great time to look back on what you’ve accomplished and set goals for the year to come. One area you should not overlook is your finances.In fact, reviewing your finances now and acting before the end of the year can empower you to start 2024...
Why people you hardly know can save you from loneliness
That barista you talk with for a few moments every day may actually be crucial to your mental health. The so-called weak ties in your social network — such as the barista or the person you chat with on the next treadmill at the gym — provide novelty and stimulation...
Kenvue’s stock rises after court ruling in Tylenol maker’s favor
Shares of Kenvue Inc. KVUE, +4.09% gained nearly 5% Tuesday morning after a federal court’s ruling in a product-liability case appeared to work in the Tylenol maker’s favor. The case involves multiple product-liability lawsuits, now consolidated in a New York federal...
Affirm’s stock rockets after Walmart expands buy-now-pay-later option to include self-checkout purchases
Shares of Affirm Holdings Inc. soared toward the highest prices seen in nearly two years after the provider of buy-now-pay-later payment options said it has expanded its services with discount retail giant Walmart Inc. to include self-checkout purchases. “Expanding...
U.S. launches naval coalition to halt Houthi attacks on Red Sea shipping
U.S. Defense Secretary Lloyd Austin announced a new international effort to thwart attacks on commercial shipping in the Red Sea that have helped trigger a rally in oil prices and saddled merchants with longer wait times and higher transport costs. “The recent...
How to know if an annuity is right for you
Annuities can be a topic of contention among financial professionals. There are some advisers who swear by them for virtually all clients, there are others who don’t look favorably upon them. The reality is that an annuity can be a good tool for retirement planning in...
Barkin says Fed makes ‘good progress’ on taming inflation, but too early to talk rate cuts
The president of the Richmond Federal Reserve said the central bank is making “good progress” in slowing inflation, but he was unwilling to commit to a specific timetable for cutting interest rates. “I think you have to acknowledge that the data has come in pretty...
Treasury yields hold near lowest levels since July as Bank of Japan keeps negative rate policy
Treasury yields moved lower Tuesday morning after the Bank of Japan maintained its negative interest-rate policy and gave little indication of a potential shift in its ultra-loose stance soon.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y slipped...
Opinion: My friend was scared to death of COVID. I told him to get a colonoscopy.
When I came down with COVID-19 recently, I heard from a concerned friend who has fretted about the virus ever since it became our global reality three years ago. I appreciated his thoughts, but I couldn’t help but think one thing. Namely: “Don’t worry about me....
FuelCell’s stock drops after revenue falls below expectations
Shares of FuelCell Energy Inc. were knocked lower Tuesday, after the fuel cell technology company reported fiscal fourth-quarter revenue that fell more than expected, as product revenue tanked more than 50%. The stock FCEL, -0.65% slumped 3.9% in premarket trading....
The yen got slammed after Bank of Japan stood pat. Here’s what’s next.
The Bank of Japan played Grinch Tuesday to yen bulls looking for a definitive sign negative interest rates are headed for the scrap heap early next year. The BOJ, as expected, left its key interest rate at -0.1% and made no further changes to a policy known as...
Apple stock will slump, S&P will sputter, oil will surge, says fund manager.
Byron Wien, a respected market strategist at Morgan Stanley and then Blackstone, died this year at the age of 90. His “10 surprises” column was awaited annually, not so much for their prescience but for being provocative, stirring outside the box thinking. From the...
I bought a house with my fiancée, but she says I need to pay all the bills. Will she get half of the house if I sell?
My fiancée and I agreed to buy a house that was more than what we expected to pay, but we both liked it. We agreed that I would make the mortgage payments, and she would pay the taxes every year. When we bought the house, we decided to pay the taxes separately from...
Most people want to age in place — a goal out of reach for almost everyone
The vast majority of adults want to live out their lives at home, but aging-in-place goals take planning, help and money to balance the burdensome costs of both housing and long-term care.As many as 77% of adults 50 and older want to age in place in their homes,...
Oil prices steady after hitting 2-week high on suspension of Red Sea shipments
Oil futures were little changed in early action Tuesday, steadying after ending the previous session around two-week highs after attacks on ships in the Red Sea stoked worries over potential supply disruptions.Price action West Texas Intermediate crude for January...
Here are 3 reasons to stop buying gifts this holiday season
The time left for holiday shopping is quickly dwindling. You’ve been searching in vain for the perfect present, and finally find one — for a much heftier sum than you’d consider spending any other time of year. But ’tis the season to splurge on those you love,...
Odometer fraud is on the rise—how to protect yourself
Used car prices have soared over the past two years. You can get more money for a used car with 80,000 miles on the odometer than one with 100,000. And today’s digital odometers can be changed easily by those with the right know-how. You see where this is going. A new...
Here’s your ultimate list of best-buy cars, trucks, SUVs and EVs for 2024
Are you a savvy shopper who also likes smart shortcuts? You’ve come to the right place. The 10th annual Kelley Blue Book Best Buy Awards highlight the standout cars, trucks, and SUVs KBB recommends for the most shoppers across a variety of segments. Every year, we put...
S&P 500 eyes record high as rate cut hopes underpin sentiment
U.S. stock futures were hovering around their highs of the year and just shy of record levels as investors continued to revel in an expected loosening of monetary policy in 2024 amid a ‘soft landing’ for the U.S. economy.How are stock-index futures trading S&P 500...
Watch the yen as Bank of Japan decides whether to signal exit from negative interest rates
And then there was the Bank of Japan.After last week’s flurry of central bank meetings, highlighted by the Federal Reserve’s surprise pivot toward easier policy next year, the BOJ will be eagerly watched early Tuesday for any sign it is ready to abandon its...
Opinion: Apple Watch pause could fuel revenue decline in the important December quarter
The sudden interruption in most Apple Watch sales during the all-important holiday shopping season could potentially fuel another revenue decline for the tech giant’s December quarter. But that will depend upon how many consumers decide to rush out and quickly buy...
How Fed rate moves could impact different sectors of the stock market in 2024
Wall Street seems to agree that U.S. stocks will climb to fresh record highs in 2024. But the most important question for investors may still be the direction and speed of interest-rate moves. Rate-sensitive groups of stocks with lackluster fundamentals, such as...
Tesla to give 10% pay raises to hourly workers at its Nevada gigafactory: report
Tesla Inc. will give most hourly workers at its Nevada gigafactory roughly 10% raises starting in January, CNBC reported late Monday. Citing internal materials it obtained, CNBC said most hourly workers’ pay at the Sparks, Nev., battery factory will rise from $20 to...
Apple will reach a milestone by the end of next year, analyst says
Apple Inc. will hit a major milestone by the end of next year, boosted by the tech giant’s performance in China, according to Wedbush analyst Dan Ives. “We believe Apple will be the first $4 trillion market cap by the end of 2024 given the pace of growth and...
Adobe’s dropped acquisition of Figma is the latest sign of regulatory obstacles
It’s open season on Big Tech.Rising regulatory barriers and a torrent of lawsuits are giving tech behemoths in pursuit of mega-mergers pause and eventually could force them to reset their business practices. The latest evidence of that came early Monday, when Adobe...
SunPower’s stock tanks after going-concern warning
Shares of SunPower Corp. dropped more than 30% Monday after the residential solar company spooked investors with a going-concern warning in regulatory filings. SunPower’s stock SPWR, -32.74% fell 34% to $4.09, on track for its lowest close since Nov. 28 and its...
Ex-Yankee Alex Rodriguez’s blank-check company Slam to merge with Lynk in telecom deal
Lynk Global Inc. said Monday it agreed to combine with Slam Corp., the blank-check company led by ex-Yankees All-Star Alex Rodriguez, in a deal valued at $800 million. Lynk Global said the transaction with Slam Corp. SLAM, -0.00 will allow it to become a publicly...
FuelCell teams with Exxon Mobil on ‘game-changing’ carbon-capture technology
Shares of FuelCell Energy Inc. got a nice boost Monday after the fuel-cell-technology company said it was teaming up with Exxon Mobil Corp. to work on deploying carbonate fuel-cell technology globally. “The unique advantage of this [CFC] technology is that it not...
Small-business owners battle to provide health benefits to their workers
Last March, small-business owner Kelly Moore testified before the House Ways and Means Committee about what she considers the worst day of her life, when she had to announce to the employees of her GKM Auto Parts stores in Ohio that she would no longer be able to...
Fed’s dovish pivot is big gamble that’s likely fail, says former top New York Fed official
“`I hope it goes well. Unfortunately, there’s still a significant chance it won’t.’” — Bill Dudley, president of the Federal Reserve Bank of New York from 2009-2018 Former New York Fed President Bill Dudley is wading into the current debate on the U.S. central bank’s...
How hiding money from colleges became a booming business
When it comes to lowering the price tag for college, some enterprising financial-aid consultants are finding that parents are willing to spend nearly any amount to try to save money. Tuition costs have risen to close to $90,000 a year at top private universities, and...
GameStop’s stock climbs more than 5%, resuming its rally
Shares of GameStop Corp. rose 5.2% Monday, as the video-game retailer and original meme-stock darling resumed its recent rally. GameStop GME, +5.50% shares were on pace for their best one-day performance since Dec. 13 when they rose 9.7%, Dow Jones market data show....
Are bank stocks poised for a rebound? Three picks for 2024
Bank stocks have lagged behind the broad market for most of 2023, and the failure of three large institutions early in the year may have left a sour taste in investors’ mouths. But some bank stocks are attractively priced right now, and targeted investments in the...
2024 GOP primary: Haley gains on Trump in New Hampshire poll, but the former president still has a 15-point edge
Republican presidential hopeful Nikki Haley is generating buzz after picking up support in a new poll focused on the key state of New Hampshire, although former President Donald Trump still has a sizable edge. Haley, a former South Carolina governor who also served as...
Goldman Sachs has already lifted its S&P 500 target for 2024
The ink barely dried on Goldman Sachs’ S&P 500 forecast for next year before the Wall Street bank decided it just wasn’t bullish enough. Chief U.S. equity strategist David Kostin bumped to 5,100 the 4,700 target that was laid out just weeks ago — 8% upside from...
Adobe, Figma to terminate $20 billion merger deal amid regulatory pressure
Adobe Inc. and design-tools maker Figma said Monday they have agreed to terminate their $20 billion merger agreement, announced 15 months ago, as the companies bowed to pressure from European regulators. Adobe ADBE, +2.07%, the maker of Photoshop, Illustrator and...
Dow futures hold near record high as last full week of trading gets into gear
U.S. stock futures on Monday flirted with their highs of the year as benchmark borrowing costs traded near their lowest since the summer.What’s happening S&P 500 futures ES00, +0.32% rose 10 points, or 0.2%, to 4778 Dow Jones Industrial Average futures YM00,...
BP joins biggest shipping groups in halting traffic through the Red Sea on Houthi threat
Energy giant BP has joined many of the world’s biggest shipping companies in halting transits through the Red Sea following attacks out of Yemen by Houthi militants. The Houthis have been attacking tankers and container ships in response they say to Israel’s campaign...
Nippon Steel to buy U.S. Steel after Pittsburgh icon put itself on the block
Nippon Steel Monday said it’s reached a deal to buy U.S. Steel after the 122-year-old Pittsburgh steelmaker put itself on the block. Nippon Steel JP: 5401, -1.07% announced it would pay U.S. Steel X, +1.21% $14.1 billion, or $55 per share, which is a 40% premium....
There are rarely this many stocks ‘overbought’ — but usually it’s a good sign
Just how frothy is the stock-market rally right now? Consider this stat: Just under half of the S&P 500 SPX components now have a relative strength index reading over 70, a level considered to be overbought. The RSI is a popular momentum indicator (available on...
‘My stepfather, on the exact day he died of brain cancer, signed an addendum to his trust leaving everything to my stepsister’: Do I have any recourse?
My stepfather developed inoperable brain cancer and died. He has three daughters from previous marriages, and two stepdaughters (my sister and I). He said my mother should live in the house he owns until she died, and the proceeds would be split between us five...
Games Workshop strikes deal with Amazon to make Warhammer 40,000 films and TV shows
Games Workshop on Monday said it has struck an exclusive agreement with Amazon to make films and TV shows set in its Warhammer 40,000 universe in a major deal that could further boost the FTSE 250 company’s meteoric share price performance. Under the terms of the...
Ten-year Treasury yields hover near five-month lows as traders parse Fedspeak
Bond yields were a touch softer early Monday, and holding near their lowest levels since the summer as traders continued to parse Federal Reserve comments on the likely trajectory of interest rates.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y...
Nio stock jumps as Abu Dhabi investor to pour in $2.2 billion
Nio stock surged in premarket trade on Monday after the Chinese EV maker said it’s received a $2.2 billion investment from an Abu Dhabi investor. Terms call for CYVN to invest $2.2 billion for 294 million shares at $7.50 each. Nio stock closed Friday at $7.98. Nio’s...
The most popular cars based on vehicle registration
Americans still buy more new Ford F-150 pickups than any other single vehicle. Ford’s F, -0.50% F-Series trucks have held onto the sales throne for more than 40 years. But through the first nine months of 2023, a surprising rival took second. The Tesla Model...
The cities with the most and least aggressive holiday drivers: A naughty and nice list
It’s the season to revel in feelings of peace and goodwill toward our fellow humans. And we could do it — we really could — if they’d all just stop trying to drive. Especially in places like Tucson, Arizona, and Nashville, Tennessee. A new study shows aggressive...
I co-own a home with my sister and her husband. They’re getting divorced and he wants his share of the property. What can I do?
I live in California.I bought an investment property in California with my sister. My aunt gifted us the money for the down payment. We weren’t in a position to qualify for a loan in the beginning, so my sister and her husband were on the loan. The three of us were...
Illumina to sell cancer-test maker Grail after latest antitrust ruling
Illumina Inc. said Sunday it will sell its Grail unit, after a federal appeals court on Friday found the $7.1 billion acquisition in 2021 to be anticompetitive. In a statement Sunday, Illumina ILMN, -3.34%, which makes gene-sequencing products, said it will divest...
Mitsubishi UFJ to buy Australian fintech company Link
SYDNEY — Link Administration shares jumped after the company announced a 1.2 billion Australian-dollar (US$804.7 million) buyout by a unit of Japanese banking firm Mitsubishi UFJ Financial Group. Link’s shares LNK, +27.06% rose 27% to A$2.16 on Monday, after earlier...
My wife and I are separating. How can I keep the home I’ve been paying for?
Dear Big Move, I bought a marital home and have been paying the mortgage for the duration of the life of the loan. The home is located in Philadelphia, where we have both resided for eight years. My wife and I are on the verge of a separation and I am concerned she...
Fed could be the Grinch who ‘stole’ cash earning 5%. What a Powell pivot means for investors.
Yields on 3-month BX:TMUBMUSD03M and 6-month BX:TMUBMUSD06M Treasury bills have been seeing yields north of 5% since March when Silicon Valley Bank’s collapse ignited fears of a broader instability in the U.S. banking sector from rapid-fire Fed rate hikes. Six months...
I’m 65 and my retirement plans blew up when my husband died. My mom had dementia. Should I prepare for the worst?
I’m a 65-year-old widow and a retired oil and gas accountant. I’ve always done my own financial planning, and I am in great shape financially. I’ve always enjoyed managing our finances and had a very reasonable plan in place (converting traditional IRA to ROTH,...
Doritos-flavored liquor goes on sale today — the boozy bottle could sell out
The bottle Empirical x Doritos Nacho Cheese Spirit, $65 (sold out online but otherwise sold through select New York and California retailers)The back story Yes, you can now drink your Doritos. The popular tortilla-chip brand, part of the Frito-Lay family (which, in...
Are you taking an RMD? 10 smart things you can use it for right now.
Most people only need one option for the money the government requires those 73 or older to withdraw each year as required minimum distributions (RMDs) from qualified retirement accounts: Spend it. Given that the average retirement balance of those aged 65 and over is...
Last-minute Christmas shopping? 12 boozy bottles full of holiday spirit.
Americans love a good sip. In 2022, consumers spent $37.6 billion on spirits alone — and wine and beer sales added considerably more to that total. Naturally, that means consumers also like to gift a good bottle, especially come holiday time. Once again, we’re serving...
My late brother’s three children say they should receive the same annual monetary gifts their grandmother gives to her other children. Are they entitled?
Dear Quentin, My aging mother has a significant annual income. I have power of attorney for her, and have been helping to manage her estate for several years. She does not have full cognitive dementia, but she does become easily confused. As the person with POA, I...
These mutual fund and ETF tips help your portfolio ride the market’s wave
Don’t miss these top mutual fund and ETF investing features: Sign up here to get MarketWatch’s best mutual funds and ETF stories emailed to you weekly!INVESTING NEWS & TRENDSHow to make the most of your initial free financial adviser consultation Prioritize your...
‘I didn’t see how this could happen’: My brother drained $200K from my mother’s savings
I read and hear so much about adult siblings who always got along, but suddenly start fighting among themselves when they are about to inherit their parents’ estate. I didn’t see how this could happen to my family — until now. We’re not at that point, but things are...
Empty bottles: Alleged mastermind of $100 million wine fraud extradited to U.S.
These wines didn’t age well. The alleged mastermind behind a fine-wine investment strategy prosecutors say was actually a $100 million Ponzi scheme has been extradited to the United States to face criminal charges. Stephen Burton, 58, of the United Kingdom, was flown...
Everything you need to consider before buying a second home
This article is reprinted by permission from The Escape Home, a newsletter for second homeowners and those who want to be. Subscribe here. © 2023. All rights reserved. A friend likes to bet on games and horse races. But he doesn’t like to be called a gambler. In...
More people are raiding retirement savings to pay bills
Facing increasing financial pressure to cover basic household bills, nearly a third of workers tapped into their retirement savings over the past 12 months to pay for short-term expenses, according to a report by Betterment at Work. While that 30% is up only 2...
Christmas shoppers, beware: These 4 gifts could end up costing recipients money
Brace yourself for a cautionary holiday tale.A few years ago, a group of friends pooled their money to give me a gift certificate to a popular spa chain during a bleak period in my life. It was enough to cover a few treatments, including a massage, facial and...
Embracing and celebrating the ‘dark and gooey’ aspects of midlife
As creator of the world’s first “midlife wisdom school,” Chip Conley wants to reinvent how people perceive midlife: not as a crisis, but as a chrysalis. It’s a transformative stage — with a dark and gooey inside — that is crucial to end one era and begin a new...
You’ve spent decades saving for retirement. Now comes the hard part: spending.
After decades of squirreling away money for retirement, people can feel incredible anxiety when it’s time to shift into spending mode. Having a strategy for spending money in retirement can alleviate some of that stress.Major worries among retirees include not being...
Why oil may not see a return to $100 a barrel in 2024
Oil prices are set to post their first annual decline in three years, and a return to the important $100-a-barrel mark may prove elusive in early 2024 with record U.S. production offsetting efforts by OPEC+ to tighten the global market.A voluntary 1 million...
Opinion: The Dodgers are getting Shohei Ohtani for a steal
“A once-in-a-generation baseball player signs a once-in-a-generation subpar contract.” Sports fans were anxiously waiting to hear where Shohei Ohtani, the once-in-a-generation two-way baseball superstar, would sign his next contract, now that he had served his time...
‘Too good to be true’: Cattlemen accused of $191 million beef Ponzi scheme
This investment was all bull. A pair of western ranchers have been accused of running a $191 million Ponzi scheme by offering big returns for purchasing cattle but never buying enough to make legitimate payouts, federal regulators said. The Securities and Exchange...
How a breakthrough on morning sickness could relieve a ‘huge economic burden’
New research tracing morning sickness to a particular hormone could be a breakthrough that eventually lightens a billion-dollar drag on the economy. Just as the work day is starting, too many women have to cope with morning sickness as they juggle career and...
How to make the most of your initial free financial adviser consultation
Like many professional service providers, financial planners don’t like to give away their expertise. They prefer that you pay for it. But if you want free advice, it’s there for the taking. Just don’t set your expectations too high. Many advisers will meet with...
Opinion: ‘Smidcap’ companies are becoming a big deal. Here’s a look at some of the best.
The stocks of long-neglected small companies are finally showing signs of life as the market rally broadens. But these tiny companies still remain vastly undervalued. So, they are one of the best buys in the stock market right now.Small- and medium-cap companies, or...
Opinion: S&P 500 is stretched but sell signals are nowhere in sight
The stock market, as measured by the S&P 500 Index SPX is blasting higher after the FOMC meeting this week seemed to convey a dovish attitude towards interest rates. SPX is well above its old 2023 highs set back in July, at 4600. SPX has now exceeded the next...
You’ll be surprised by how much you spend in retirement
Spending, on average, generally decreases in retirement. But that doesn’t mean your spending will decline each year.Rather, spending will likely fluctuate greatly in retirement, according to recent research written by Sudipto Banerjee, a vice president with T. Rowe...
‘We went through all of my 401(k) investments’: I lost my job, then my home. Do I have any claim to my wife’s $200,000 inheritance?
Dear Quentin, My wife and I have been married for over 30 years. Throughout the years, we relied mainly on my income. My wife worked occasionally, but mainly raised the children. We started to struggle financially when I was laid off. We went through all of my 401(k)...
We’re in our 70s with a chronic illness and have $300,000 in 6-month CDs, and $100,000 in cash. Is this a good strategy?
Dear MarketWatch, I have approximately $300,000 in 6-month CDs — $200,000 of that is in my financial institution and $100,000 is in one of my banks. These are paying 4.75% interest. I also have about $75,000 in some stocks that are holding their own, but are not doing...
4 ways you can improve your finances before New Year’s Day
While many may be making a gift list and checking it twice for the holiday season, investors should consider checking off another type of list: a year-end financial planning checklist.The end of the year is a great time to reflect and take a closer look at one’s...
Biden jabs at Trump for predicting stock market would collapse during Democrat’s time in office
“‘Good one, Donald.’” — President Joe Biden The line above came in a social-media post on Friday from President Joe Biden, as he took aim at one of former President Donald Trump’s bearish forecasts for U.S. stocks. Biden was jabbing at Trump for saying during the 2020...
BlackRock, State Street subpoenaed in House’s ESG investigation
The House Judiciary Committee, chaired by Rep. Jim Jordan, on Friday subpoenaed BlackRock and State Street Global Advisors for documents and communications related to the panel’s probe into environmental, social and governance, or ESG, goals and antitrust laws. The...
‘I feel slighted’: My husband and I are in our 70s. We married 3 years ago. He’s leaving his $1.8 million home to a 10-year-old relative. Is that normal?
Dear Quentin, I am 73 and my husband is 76. We married three years ago, and I moved overseas to be with him. We are in excellent health and, statistically, we have another 10 to 15 years of life ahead of us. I have grown children in their 40s and one grandchild in the...
Quaker Oats recalling dozens of Chewy Bars and cereals over salmonella fears
Get these Quaker Oats treats out of your house. So says PepsiCo-owned PEP, -0.74% Quaker Oats Company, which on Friday issued a voluntary recall warning that dozens of its granola bars and granola cereals could be contaminated with salmonella, a bacterial organism...
Broadcom now ranks among 10 largest U.S. companies after big 2023 stock gains
Nvidia Corp. has catapulted up the list of the most valuable U.S. companies this year, rising eight spots from the end of last year to sit in the fifth position with a market capitalization of $1.2 trillion. But other chip companies have seen their positions rise even...
This is what we can expect to see from meme stocks in 2024
It may be a couple of years since the meme-stock feeding frenzy hit its heights, but we’re still seeing occasional bursts of meme-like activity in number of stocks. No discussion of meme stocks would be complete without OG AMC Entertainment Holdings Inc. AMC, -0.89%....
Activision Blizzard to pay $55 million to settle California civil-rights lawsuit
Videogame maker Activision Blizzard has agreed to pay nearly $55 million to settle a California civil-rights lawsuit brought over complaints of sexual harassment, discrimination and pay disparities by women employees that helped trigger the company’s acquisition by...
Kimberly-Clark’s stock hit by BofA downgrade, while Clorox gets an upgrade
Kimberly-Clark Inc.’s stock fell 1.5% Friday, after BofA Securities downgraded the stock to underperform from neutral and said the outlook for the company’s profit margins is uncertain. Analysts led by Anna Lizzul cut their stock price target to $115 from $135....
DocuSign’s stock pops as company reportedly considers a sale
One-time pandemic darling DocuSign Inc. may be looking to sign a deal of its own. The e-signature company is working with advisers as it considers a sale, the Wall Street Journal reported Friday afternoon. A deal for DocuSign DOCU, +13.51%, valued at upwards of $11...
Are there ways to give to charity and keep the money in the family?
Dear Dan, This time of year, I read article after article about charitable donations. That makes sense with the Dec. 31 tax deadline approaching but most seem to be about donations that take the assets out of the family’s hands entirely. Are there ways to give to...
SEC denies Coinbase’s demand for new crypto rules ahead of 2024 showdown
Federal financial regulators are girding for a fight with crypto exchange Coinbase in court next year, and set the stage Friday by dismissing a petition by the company to craft new, tailored rules for the industry. The Securities and Exchange Commission denied a...
Silver’s window of opportunity is closing, with prices poised for an ‘explosive move’ in 2024
Silver prices could be headed for an “explosive” rise in 2024 if global supplies continue to fall short of demand, and the Federal Reserve makes good on its plans to pivot to interest rate cuts in the coming months, according to metal-markets analysts. While silver...
Olive Garden and LongHorn parent Darden beats profit estimates but falls short on revenue
Darden Restaurants Inc.’s stock dropped 1% on Friday after the parent of Olive Garden and LongHorn Steakhouse restaurants fell slightly short of second-quarter revenue estimates while reporting a rise in profits. The Orlando, Fla.-based restaurant operator also said...
Why is retirement so stressful? Confronting the social and emotional challenges.
All three matter.The idea of retirement is exciting. To the average American, retirement is a goal they strive toward each day of their working life. Most of the emphasis is on the financial facts of retirement. Many are missing the critical component to making their...
BlackRock draws downgrade on ETF competition
BlackRock Inc. drew a downgrade to neutral from buy at JPMorgan on Friday as analysts said the stock appears to have reached a full valuation as it faces market-share pressure in its exchange-traded-fund business. BlackRock’s stock BLK, -0.68% fell back by 0.7% on...
Elder abuse and scams can worsen during the holidays. How to protect yourself.
Elder abuse comes in several forms, but attempting to rip off seniors financially is the big one. Adults 60 and older reported losses of $1.6 billion to scams in 2022, according to the U.S. Federal Trade Commission. The true figure is likely considerably higher given...
Unpaid family caregivers would get retirement boost under new proposal
A bipartisan proposal in Congress would help unpaid family caregivers make up some lost retirement income. Under the bill, people who were out of the workforce for at least one year and received no pay for caring for a family member could make extra contributions to...
Lear, Munger, Carter and O’Connor lived impactful lives. What can they teach us?
TV producer Norman Lear made it to 101. Former Secretary of State Henry Kissinger was 100 when he died. Berkshire Hathaway’s No. 2, Charlie Munger, was just a month shy of 100. Former first lady Rosalynn Carter was 96. Former Supreme Court Justice Sandra Day O’Connor...
The housing market is already starting to pick up as mortgage rates fall: Redfin
Falling mortgage rates have already breathed “new life” into the U.S. housing market, a new report by Redfin RDFN, -1.18% says, and that momentum could pick up as rates continue to inch downward. Home buyers got some good news this week when the average rate on the...
Auto-strike deal boosts industrial production, but other manufacturers struggle
The numbers: Industrial production rebounded in November and rose 0.2% after the end of a major auto strike, but most other manufacturers saw little improvement. Economists surveyed by the Wall Street Journal had forecast a 0.3 increase in production. Key...
Williams says the Fed isn’t ‘really talking about cutting interest rates right now’
New York Federal Reserve President John Williams on Friday said interest rates are “at or near the right place” to get inflation under control and keep the economy growing. Yet Williams said it is “premature” to discuss whether it is time to cut interest rates....
Empire State index shows manufacturing sector of the economy is still struggling
The numbers A survey of business conditions in the New York region sank to -14.5 in December and hit a four-month low, reflecting the ongoing weakness in the manufacturing side of the U.S. economy. The New York Fed’s Empire State index retreated 24 points from 9.1 in...
German bund yields tumble as weak data set to pressure ECB in new year
European bonds rallied on Friday as weak eurozone purchasing manager data stirred hopes the region’s central bank may be pushed toward interest rate cuts sooner than it wants in 2024. The 10-year German bund yield BX:TMBMKDE-10Y fell 7 basis points to 2.03%, a level...
A new tech bull market is gaining momentum as rest of the group now joins the party, says Dan Ives
A popular analyst says a new tech-stock bull market is gaining momentum as other companies are now joining the party. “We believe a short covering for the ages for the tech sector into year-end is well underway as the fundamental picture for growth tech stocks is rock...
Opinion: Intel’s AI chips for the PC will be widely used, but may not be the most useful
Intel INTC, +1.37% has put the technology world on notice that it intends to provide the most complete solutions for AI computing products. It asserted this clearly and emphatically during the company’s “AI Everywhere” event held in New York City on Thursday, rolling...
The set-up for bank stocks is looking like 1995, when they surged 54%, analyst says
The S&P 500’s total return index is at a record high, as the price-only S&P 500 SPX sits only 2% below its all-time peak. The meteoric year-end rally has left many Wall Street forecasts looking stale — not just for this year, but actually next year’s as...
Jeff Bezos plays down AI dangers and says a trillion humans could live in huge cylindrical space stations
A former version of this story incorrectly referred to Jeff Bezos as CEO of Amazon. The story has been corrected. In this file photo taken on September 19, 2019 Amazon founder and former CEO Jeff Bezos speaks to the media on the company’s sustainability efforts in...
10 advantages of electric cars you probably haven’t thought of
2023 is well into its third act, and I’m preparing for my yearly holiday pilgrimage. Presents are getting wrapped, clothes packed, and the car is getting fueled up to make it from Denver to Chicago. However, this year is a bit different for me. The 1,000-mile journey...
Treasury yields hover at summer lows after dovish Fed drives bond rally
Treasury yields were mostly steady to lower on Friday, but hovering at summer lows after a surprise shift in the Federal Reserve’s stance at its meeting earlier in the week. What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y fell 1 basis point to 4.38%....
S&P 500 futures approach record levels as traders brace for options expiration
U.S. stock futures pushing higher on Friday, with the Dow industrials poised for a third-straight record-setting session, though options expiries and index rebalancing could make for a volatile session.How stock index futures are trading S&P 500 futures ES00,...
Chaotic ‘triple witching’ set for Friday, as $5.3 trillion in options expire
Options contracts tied to more than $5 trillion worth of stocks, exchange-traded funds and indexes are set to expire on Friday as the latest “triple witching” expiration event collides with the rebalancing of the S&P 500 and Nasdaq-100. The result could be a...
U.K. consumer confidence rises at start of festive shopping season, survey says
U.K. consumers felt increasingly optimistic in December, heralding good news for spending as the country enters the vital festive shopping season, according to a closely watched survey set out Friday. Research group GfK’s Consumer Confidence Barometer ticked up two...
China economic data shows some renewed signs of weakness
China’s economy showed some renewed signs of weaknesses as key gauges for consumption and investment missed expectations, while Beijing continues to grapple with challenges including a drawn-out property market slump and waning business confidence. Retail sales, a key...
GM to lay off about 1,300 in Michigan as Bolt, Camaro end production
General Motors Co. will cut more than 1,300 jobs at two auto plants in Michigan effective Jan. 1. According to filings Thursday with state regulators, the automaker will lay off 945 workers at its Lake Orion, Mich., facility, and 369 at its Lansing Grand River...
Markets are declaring victory over inflation for Powell, and that has some economists worried
Federal Reserve Chair Jerome Powell said Wednesday it was too early to declare victory over inflation, but financial markets have effectively declared victory for him. Some economists, still worried about inflation, think that letting the market drive the bus will...
Gold futures leap closer to record highs in one fell swoop
Gold futures climbed by more than 2% on Thursday, posting their biggest one-day gain since October and lifting prices closer to record highs in one fell swoop after the Federal Reserve signaled three interest-rate cuts for next year. Gold for February delivery GC00,...
Dow climbs to fresh record as Fed rate-cut forecasts spur global markets rally
U.S. stocks were higher Thursday, with the Dow Jones Industrial Average reaching a fresh record as the Federal Reserve’s interest-rate cut projections spurred a broad rally across global markets. How are stocks trading The S&P 500 SPX gained 20 points, or 0.4%, to...
WeightWatchers has a new $99 monthly plan for those on weight-loss drugs
Call it WeightWatchers WW, +6.83% with a side of Ozempic. The weight-loss platform is launching a new plan, the WeightWatchers GLP-1 Program, for those who are obese or overweight and taking any of the increasingly popular injectable drugs that help with curbing...
What retirement? Older adults work more hours for higher pay than in the past.
About one in five Americans age 65 and older worked for pay in 2023, nearly double the share of older adults who were working 35 years ago — and their hours and wages have increased. While some older adults are working by choice, others are working by necessity. But...
Cruise dismisses 9 top executives amid probe into crash that injured pedestrian
Cruise, the troubled autonomous-vehicle unit of General Motors Co., has dismissed nine “key leaders” and said it plans to lay off more than 20% of its workforce in the wake of an October crash in San Francisco that left a pedestrian critically injured. Among those...
Mortgage rates fall below 7% for the first time since August
Mortgage rates fell below 7% for the first time since August, as the U.S. economy is showing signs of cooling off following the U.S. Federal Reserve signaling a turn to rate cuts. The 30-year fixed-rate mortgage fell for the seventh week in a row, and averaged 6.95%...
Moderna’s stock buoyed by positive data in trial of melanoma treatment
Moderna Inc.’s stock soared 14% early Thursday after the biotech company and partner Merck & Co. announced positive data from a trial of Moderna’s mRNA-4157 in combination with Merck’s blockbuster cancer drug Keytruda in patients with resected high-risk melanoma...
Want great investing returns without great risk? Do these two things.
Investors want lots of things, but two of them stand out above all others: They want above-average long-term returns without taking additional risk.Fortunately, it’s not hard to get those results. First, you have to diversify beyond the familiar and comfortable...
Intel announces new PC, server chips designed for AI uses
Intel Corp. announced new PC chips Thursday, which can power many computers built for artificial-intelligence tasks. The company’s new Core Ultra mobile processors will make it easier for people to use AI applications on their personal computers, Intel INTC, +4.33%...
Move over, Nvidia. Investors may be ready to make this stock their new No. 1 chip pick.
While Nvidia has been a clear chip favorite among investors keen to get exposure to the artificial-intelligence boom this year, Jensen Huang’s company may have a contender. When retail investors began moving back into markets as hopes emerged that the Federal Reserve...
U.S. jobless claims plunge to lowest level since mid-October
The numbers: Initial jobless claims fell by 19,000 to 202,000 in the week ending Dec. 9, the U.S. Labor Department said Thursday. That’s the lowest level since mid-October. Economists polled by The Wall Street Journal had estimated new claims would hold steady at...
Import prices fall for second straight month and as U.S. inflation eases
Developing story. Check back for updates. The numbers: The cost of imported goods fell 0.4% to mark the second decline in a row, contributing to a slowdown in U.S. inflation more broadly. Economists polled by the Wall Street Journal had estimated a 0.8% drop.
Oil prices shoot higher as softer U.S. dollar triggers ‘short squeeze’ rally
Oil prices shot higher on Thursday, adding to their gains from Wednesday’s session as a weaker U.S. dollar helped boost commodity prices. Price action West Texas Intermediate crude for January CL00, +2.59% CL.1, +2.59% gained $1.43, or 2%, to $70.90 a barrel on the...
Vivendi shares surge as media conglomerate outlines plans to split
French media conglomerate Vivendi on Wednesday said it is exploring plans to split itself into three separate listed companies, causing its share price to surge. The plans would see Vivendi break up into three independent firms, including public relations and...
Opinion: ‘Smidcap’ companies are becoming a big deal. Here’s a look at some of the best.
The stocks of long-neglected small companies are finally showing signs of life as the market rally broadens. But these tiny companies still remain vastly undervalued. So, they are one of the best buys in the stock market right now.Small- and medium-cap companies, or...
Bond king sees further slide in 10-year as Goldman sees three straight Fed cuts
Kudos to Fundstrat’s ever-bullish Tom Lee, one of the few to correctly predict Wednesday’s dovish turn from the Federal Reserve that has unleashed bond and stock bulls. As Lee said on X: “Powell no longer invoking Volcker— risk-on,” in reference to the ex-Fed chief...
Why oil may not see a return $100 a barrel in 2024
Oil prices are set to post their first annual decline in three years, and a return to the important $100-a-barrel mark may prove elusive in early 2024 with record U.S. production offsetting efforts by OPEC+ to tighten the global market.A voluntary 1 million...
Wall Street has discovered what’s really driving U.S. stocks higher in 2023.
As the year draws to a close, stock-market professionals can recite a litany of explanations for why the U.S. market has marched higher this year. But a group of Wall Street strategists believe chalking up the equity market’s gains to signs that the U.S. economy is...
Treasury yields fall afresh as Goldman Sachs sees Fed cutting rates in March
Bond yields slid to fresh multi-month lows as investors continued to price in the Federal Reserve’s unexpectedly dovish pivot on Wednesday.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y fell by 9.3 basis points to 4.340%. Yields move in the opposite...
More retirees are making the big decision to go tiny—do you have what it takes?
While there’s no official definition of a tiny house, the phrase generally refers to structures that are less than 1,000 square feet and offer extremely efficient use of space and energy. While they can be equipped with wheels and built in a factory using modular...
What renters should consider before buying an electric car
As the automotive industry expands its offering of electrified models, more renters and homeowners are adopting electric vehicles and plug-in hybrids for daily commutes. While there are many benefits to choosing an EV, transitioning from gas-powered cars is often...
Powell surprises with dovish turn; economists mull how many Fed rate cuts in ’24
Federal Reserve Chairman Jerome Powell startled economists with a press conference Wednesday that was viewed as much more dovish than expected. It was “12 doves a-leaping,” said Michael Feroli, U.S. economist at JPMorgan Chase. “The Fed can’t believe its luck. The...
Cruise dismisses 9 top executives amid probe into crash that injured pedestrian
Cruise, the troubled autonomous-vehicle unit of General Motors, has dismissed nine “key leaders” in the wake of an October crash in San Francisco that left a pedestrian critically injured. Among those departing the company are its legal, government affairs, commercial...
Dow scores highest close in history. Here’s what that means in big picture.
The Dow Jones Industrial Average scored both an intraday high and a record close on Wednesday after the Federal Reserve signaled a pivot to rate cuts was likely in 2024. The Dow DJIA went up 512.30 points, or 1.4%, to close at 37,090.24, marking the first time the...
China’s Country Garden makes move to aid debt restructuring
Chinese property giant Country Garden 2007, +1.30% will sell a stake in a commercial center operator for about US$428 million, using the proceeds to help restructure offshore debt. The indebted developer said Thursday that a group subsidiary will sell its entire 1.79%...
Complaints against airlines will break new record in 2023, watchdog group says
It’s shaping up to be a record-breaking year for consumer complaints against U.S. airlines, with the number of complaints filed in the first five months of 2023 more than double the amount filed during the same period last year, according to a new report.Based on...
Ordering on the Chipotle app or at the Krispy Kreme drive-through? You might be talking to AI.
Customers placing an order at a Krispy Kreme or White Castle drive-through, or on the Chipotle app, might find that artificial intelligence is on the receiving end. In the latest addition to AI-assisted customer service, SoundHound AI Inc. SOUN, +7.36% is deploying a...
Paramount’s bond spreads tighten in heavy volume amid reports of a possible deal
Bonds issued by Paramount Global Inc. have seen significant spread tightening — and higher prices — in strong volume in recent weeks, amid reports that Chairwoman Shari Redstone is in talks on selling a controlling stake in the company. Holders of the bonds could cash...
Tesla to recall more than 2 million vehicles over concerns about Autopilot and drivers’ attention
Tesla Inc.’s stock fell nearly 2% Wednesday, after federal regulators said the electric-vehicle company was recalling more than 2 million vehicles over Autopilot control issues. Tesla TSLA, -2.55% will add additional control and alerts to “further encourage the driver...
Nvidia, Disney and Tesla are among 2023’s buzziest stocks. Can they continue to sizzle in 2024?
It was a year when weight-loss drugs began to go mainstream, a year when technology and media companies were forced to grow up and a year when cryptocurrency experienced both a reckoning and a rebound. Perhaps most of all, though, it was a year when you would have had...
Vertex stock heads for all-time high as non-opioid painkiller shows promise
Vertex Pharmaceuticals Inc. shares VRTX, +10.31% were on track for an all-time high Wednesday after the company released new data from a trial of its investigational non-opioid pain medicine. The stock jumped more than 10% Wednesday morning, on pace for its largest...
Etsy to cut 11% of staff as CEO says company is on ‘unsustainable trajectory’
Etsy Inc. shares fell more than 7% in Wednesday trading to place among the S&P 500 index’s biggest laggards after the e-commerce company announced layoff plans. The company intended to cut about 11% of its staff, or roughly 225 employees, as it embarks on a...
Google Cloud, Accenture create joint AI business unit
Google Cloud plans to deliver its new generative-AI model Gemini to enterprises, working with one of the industry’s biggest professional services companies. Alphabet Inc.’s GOOGL, -0.29% GOOG, -0.12% Google said Wednesday it has partnered with Accenture ACN, -0.36% to...
Private-equity firms build up record $2.59 trillion in ‘dry powder,’ or capital on the sidelines
Capital waiting to be deployed, or so-called dry powder, rose 8% to a record $2.59 trillion in the past year, S&P said Tuesday. S&P said the mountain of unused capital in the industry comes after a slow year in dealmaking “with limited opportunities” for firms...
Curaleaf to ring opening bell at TSX to mark stock listing
Curaleaf Holdings Inc. said it will ring the opening bell at the Toronto Stock Exchange on Thursday to mark official trading of its stock on the bourse under the symbol “CURA”. Curaleaf’s stock CURLF, +4.24% CURA, +4.81% rose 5.6% on Wednesday morning. As the U.S.’s...
Pfizer’s stock down 8% as 2024 profit and revenue guidance falls short of expectations
Pfizer Inc.’s stock PFE, -8.10% slid more than 8% early Wednesday, after the drug company set 2024 guidance that fell short of analyst expectations. As it wrestles with reduced COVID sales expectations and acquires cancer-drug maker Seagen, Pfizer is expecting 2024...
Markets now expecting 100 basis points of U.K. interest rate cuts next year, as economy slows unexpectedly
New data showing an unexpected downturn in the U.K. economy is set to pile pressure on the Bank of England to lower interest rates next year, with money markets now pricing in 100 basis points of cuts for 2024. Data released Wednesday showed an unexpected downturn in...
Federal Reserve interest-rate decision: ‘Keep calm and carry on’ vs. recession fears
The Federal Reserve’s main message to investors and markets next week is likely to be borrowed from the British government’s World War II instruction to “Keep Calm and Carry On.” Calm in financial markets has been a scarce commodity recently. Recent market moves have...
What’s the best way to lose weight? ‘It’s everything,’ Oprah says.
If you want to follow Oprah Winfrey’s latest plan for losing weight, be prepared to do, well, everything.At least that’s how Winfrey, who has been showing off a noticeably trimmer figure of late, described what she’s been doing. When asked about her new weight-loss...
LifeMD’s stock soars 13% as company and Medifast to create weight-management program that includes GLP-1 drugs
LifeMD Inc.’s stock soared 12% early Wednesday, after the virtual primary care provider said it’s teaming up with Medifast Inc. MED, +1.03% to create a clinically supported weight management program that will include the new class of weight-loss drugs called...
‘Magnificent Seven’ up for another bull run? What to expect from technology stocks in 2024.
It has been a miracle year — for a few U.S. technology stocks. Investors who missed the year’s unexpected rally may be wondering if there still is room in 2024 to dip their toes into “Magnificent Seven” stocks, given a backdrop where the Federal Reserve is expected to...
Mortgage refinancing surges nearly 20% as rates drop to five-month low
The numbers: Demand for mortgages rose this week as mortgage rates fell to the lowest level since July. Rates dropped 10 basis points in the last week, and the 30-year rate is 54 basis points lower than a month ago. Lower rates provided a boost to buying and...
For savers, the end of 2023 is different: Act now to sock away even more
If your retirement savings plan is on autopilot, right now is the time to make a change. The Secure Act 2.0, which President Biden signed into law a year ago, raised the annual limits on how much you can add to your retirement savings. That means you can sock away...
The 2024 Mercedes-Benz S-Class is still heaven on wheels
The 2024 Mercedes-Benz S-Class is the large luxury sedan for heads of state, captains of industry, and winners of lotteries. Pricing starts at $117,300.The S-Class isn’t just a car. Although if it was, that would be a more than ample reason for its existence. Instead,...
Treasury yields inch lower in cautious trading ahead of Fed decision and Powell comments
U.S. bond yields fell slightly early Wednesday as traders waited for a monetary policy update from the Federal Reserve later in the day.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y dipped by less than 1 basis point to 4.731%. Yields move in the...
The 2024 Porsche 911 review: Pricing, specs, and what it’s like to drive
The 2024 Porsche 911 remains the high-end sports car against which all others are measured. It’s an awesome machine. Pricing starts at $114,400.It’s hard to imagine a world without the 911, which is odd because no one today would create a sports car with an engine in...
Apple shores up iPhone security with patch
Apple Inc. on Tuesday began rolling out a security patch to protect iPhone owners from cyberthieves. The new iOS setting, called Stolen Device Protection, blocks intruders from taking over customers’ accounts, accessing saved passwords, and stealing money. Apple’s new...
S&P 500 futures challenge 2023 highs as traders await Fed decision
U.S. stock futures were inching to fresh 2023 highs early Wednesday, ahead of the Federal Reserve’s policy decision, forecasts and commentary later in the session.How are stock-index futures trading S&P 500 futures ES00, +0.15% added 51 points, or 0.1%, to 37018...
Giving stock to kids? Better make sure it comes with good instructions.
Have you ever stayed up really late the night before a holiday or a birthday, assembling some impossibly complicated toy that comes with indecipherable instructions? That’s basically how kids feel when you buy them stock. If you’re thinking of giving individual...
E3, the once-massive videogame trade show, has been permanently canceled
It’s game over for E3. In a tweet Tuesday, the trade group that ran the once-blockbuster annual videogame conference said it was permanently pulling the plug on the Electronic Entertainment Expo. “The time has come to say goodbye,” the Entertainment Software...
Japan manufacturers sentiment improves for third straight quarter, Tankan shows
TOKYO — Sentiment among large Japanese manufacturers rose to the highest level since March 2022 during the three months to December, supported by a sharp recovery in the auto sector. The main index for sentiment among large manufacturers was +12, compared with +9 in...
Opinion: The Dodgers are getting Shohei Ohtani for a steal
“A once-in-a-generation baseball player signs a once-in-a-generation subpar contract.” Sports fans were anxiously waiting to hear where Shohei Ohtani, the once-in-a-generation two-way baseball superstar, would sign his next contract, now that he had served his time...
You’ve spent decades saving for retirement. Now comes the hard part: spending.
After decades of squirreling away money for retirement, people can feel incredible anxiety when it’s time to shift into spending mode. Having a strategy for spending money in retirement can alleviate some of that stress.Major worries among retirees include not being...
UAW agreement strengthens retirement security
A reporter asked recently what I thought of the new 401(k) contribution rate in the United Auto Workers (UAW) agreement with Ford F, +0.77%, General Motors GM, +0.04%, and Stellantis STLA, +0.04%. The companies have agreed to increase their 401(k) contributions from...
Opinion: America needs a better president than Biden or Trump to be a true superpower
American resolve and power, or at least the will to use it, is missing. At home, crime bedevils San Francisco, Chicago, New York and other American cities. The U.S. border with Mexico hemorrhages with illegal immigrants. The U.S. Border Patrol has dumped thousands of...
Sticker shock for older adults: Essential items are about 10% more expensive
The rate of inflation may be slowing, but more than two-thirds of older adults have seen their monthly budget for essential items such as housing, food and prescription drugs rise 10% from a year ago. The data from the Senior Citizens League, a think tank that...
Macy’s stock falls more than 3% after Citi downgrade amid buyout report
Macy’s Inc. shares fell 3.6% Tuesday after Citi downgraded the stock to sell from neutral amid a report that an investor group wants to take the department-store chain private at $21 a share. The stock pulled back after ending Monday’s session up 19.4% following the...
My stepfather has dementia. What can I get him for Christmas?
A friend asked for suggestions for a Christmas gift for her stepfather, who has Alzheimer’s disease. Because her stepfather’s abilities have changed so much in the past few years, she wasn’t sure what would be appropriate. She also wanted a gift that would help her...
I co-own a home with my sister and her husband. They’re getting divorced and he wants his share of the property. What can I do?
I live in California.I bought an investment property in California with my sister. My aunt gifted us the money for the down payment. We weren’t in a position to qualify for a loan in the beginning, so my sister and her husband were on the loan. The three of us were...
Macy’s real estate alone is worth nearly $3 billion more than investors’ bid, analysts say
A group of investors wants Macy’s Inc. for the holidays — at a steep discount. Arkhouse Management and Brigade Capital Management recently submitted a $5.8 billion bid to acquire the shares of Macy’s M, -3.71% that they don’t already own for $21 a share, the Wall...
Oil futures trade near session lows, with U.S. prices below $70 a barrel
Oil prices traded lower on Tuesday, with U.S. prices slipping back below $70 a barrel. Concerns over the outlook for oil demand, as well as rising oil production from non-OPEC countries such as the U.S., continue to weigh on prices. U.S. inflation data, meanwhile,...
Oracle earnings disappoint again — but is the glass half full?
As Oracle Corp. shares headed for their second sharp post-earnings selloff in as many quarters, some bulls saw a silver lining. While Oracle ORCL, -11.19% missed slightly on the top line with its latest quarterly results and saw its Oracle Cloud Infrastructure...
U.S. stocks open mixed and turn lower after inflation report, as Fed decision looms
U.S. stocks opened mixed Tuesday and turned negative after new data showed inflation retreating only slowly, supporting the idea of interest rates staying ‘higher for longer’ ahead of a Federal Reserve rate announcement Wednesday. How stocks are trading The S&P...
Case for traditional 60-40 mix of stocks and bonds strengthens amid higher rates, according to Vanguard’s 2024 outlook
The case for investing in a classic portfolio of 60% stocks and 40% in bonds has strengthened, with the rise in interest rates translating into higher fixed-income returns, according to Vanguard Group. “For long-term investors in balanced portfolios, the probability...
Something remarkable and extremely rare happened to U.S. stock market on Monday
All of a sudden, it’s starting to look like the “Magnificent Seven” might be losing some of their shine. Although it’s difficult to draw conclusions like this from a single trading session, something remarkable happened in the U.S. stock market on Monday that has...
Inflation creeps higher, CPI shows, on higher rents and used-car prices
The numbers: The cost of living rose a scant 0.1% in November thanks to lower oil prices, but another key measure of inflation showed somewhat higher costs of other goods and services such as rent and used cars. Economists polled by the the Wall Street Journal had...
Tommy DeVito’s agent becomes internet sensation in Giants victory
When your nickname is ‘Tommy Cutlets” it would seem to only make sense that your agent would look like he just walked off the set of “The Sopranos.” The ESPN cameras caught Giants QB Tommy DeVito on the field before his “Monday Night Football” game against the Packers...
‘I feel slighted’: My husband and I are in our 70s. We married 3 years ago. He’s leaving his $1.8 million home to a 10-year-old relative. Is that normal?
Dear Quentin, I am 73 and my husband is 76. We married three years ago, and I moved overseas to be with him. We are in excellent health and, statistically, we have another 10 to 15 years of life ahead of us. I have grown children in their 40s and one grandchild in the...
Nokia cuts margin guidance a week after losing AT&T contract
Nokia on Tuesday cut its operating margin guidance citing tough market conditions for its mobile networks business, just a week after it lost out on a $14 billion AT&T contract to upgrade the firm’s U.S. networks. The Finnish phone company cut its operating...
Here’s what hit the Magnificent 7 stocks, and why the selling may continue.
Ho-ho-uh oh? As Tuesday’s CPI data and Wednesday’s Fed meeting hog this week’s limelight, something may be brewing in one hot corner of the stock market. Monday marked the first time since 2012 that the Nasdaq 100 managed a positive close with all Magnificent Seven...
Treasury yields dip ahead of November CPI report
Bond yields fell early Tuesday amid tentative trading as investors awaited consumer inflation data.What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y slipped by 2.6 basis points to 4.680%. Yields move in the opposite direction to prices. The yield on the...
Why Tesla’s Cybertruck is no threat to traditional pickups
Tesla deserves credit; the company has done something amazing. Elon Musk has created an all-new automotive company from the ground up. Now, Tesla vehicles are the best-selling electric cars in the country and the top luxury brand in the U.S. Still, the Cybertruck is...
Top picks for a used SUV under $20,000
No matter what sort of SUV you’re looking for — big, small, or medium, efficiency-first or heavy duty, there are bargains to be found in today’s used SUV market. With $20,000 to spend, your selection includes some nearly new models, some recent hybrids, and some older...
Shohei Ohtani reportedly will defer 97% of annual salary — and that’s allowed
Shohei Ohtani will reportedly defer about $68 million a year on his record 10-year, $700 million contract with the Los Angeles Dodgers, giving the team much more financial flexibility to comply with Major League Baseball’s luxury tax. The Athletic reported Monday that...
Unilever probed by competition regulator over environmental claims
Britain’s competition regulator on Tuesday said it’s opened a probe into the environmentally-friendly claims put forward by household products giant Unilever, the latest example of corporate green claims getting scrutinized by regulators. The U.K. Competition and...
Warren Buffett’s Berkshire cuts stake in HP, Carl Icahn gives up FirstEnergy board seat
Warren Buffett’s Berkshire Hathaway Inc. has cut its stake in HP Inc. by about half, and Carl Icahn has reduced his position in FirstEnergy Corp. and relinquished a board seat, according to regulatory filings Monday. According to a filing with the Securities and...
Opinion: Oracle embarks on potentially risky data-center expansion as cloud growth slows
Oracle Corp.’s cloud-services revenue slowed for the second consecutive quarter, hitting a sharper speed bump Monday, just as it plans to embark on a potentially risky move of adding a large number of data centers. The software giant said in its earnings conference...
This Doritos-flavored booze is real — and begging for a Blood Mary
The bottle Empirical x Doritos Nacho Cheese Spirit, $65 (available for pre-ordering online starting Dec. 13 and otherwise sold through select New York and California retailers)The back story Yes, you can now drink your Doritos. The popular tortilla-chip brand, part of...
Small-business owners face a punishing cocktail of labor shortages, inflation and rising rates. But some are finding fresh ways to thrive.
Business at Linda’s Bar and Grill in downtown Chapel Hill, N.C. had been booming before the pandemic. After the college town emptied and the restaurant shuttered for most of 2020, making it to the other side felt like a small victory. But when his restaurant fully...
Inflation will have to get a lot worse to justify gold’s current price
Inflation is not nearly high enough to justify gold’s recent rise to a new all-time high. That’s the conclusion I draw from research conducted by Campbell Harvey, a Duke University finance professor, and Claude Erb, a former commodities portfolio manager at TCW Group....
House panel subpoenas Vanguard, says it ‘colluded’ with rivals to decarbonize U.S. economy
The House Judiciary Committee issued subpoenas Monday to Vanguard Group and Arjuna Capital for documents and communications related to its investigation into possible illegal collusion to deprive funding to fossil fuel companies. “Corporations are collectively...
Treasury yields edge up ahead of Tuesday’s CPI inflation data for November
Two- and 10-year Treasury yields continued to inch higher Monday afternoon following a pair of government-debt auctions that produced lackluster demand. What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y rose 1.2 basis points to 4.740% from 4.725% on...
One of Wall Street’s most vocal stock-market bears sees signs corporate earnings could be in trouble
One of Wall Street’s most-vocal bears is seeing signs of softness in corporate earnings that could impede stocks’ ability to continue climbing in 2024. Michael Wilson, the top U.S. equity strategist at Morgan Stanley, said in a note shared with MarketWatch on Monday...
Manulife to buy back C$1.2B in stock as part of C$13B reinsurance deal with Global Atlantic
Manulife Financial Corp. said Monday it agreed to have Global Atlantic reinsure C$13 billion ($9.6 billion) of its reserves across four legacy/low return-on-equity blocks. With capital freed up from the deal, Manulife Financial MFC, +2.53% MFC, +2.36% said it plans to...
Manchester United saga continues as Ratcliffe still ‘in limbo,’ report says
The saga of Sir Jim Ratcliffe’s Manchester United stake continues amid reports that the British billionaire’s deal for a 25% stake may not happen this week, despite recent talk that an agreement was imminent. Reports last week suggested that Ratcliffe’s $1.57 billion...
Nvidia’s stock dubbed top pick for 2024: ‘No need to overthink this’
Yes, TD Cowen analyst Matthew Ramsay’s top chip stock pick for 2024 has seen a 220% gain so far this year, but he has a message to Wall Street: “No need to overthink this.” That “best idea” selection, of course, is Nvidia Corp. NVDA, -3.35%, which has established...
Occidental to pay $12 billion to buy private Permian Basin company CrownRock
Occidental Petroleum Corp. said Monday it would pay $12 billion for privately held Permian Basin oil and gas producer CrownRock LP, which is a joint venture of CrownQuest Operating LLC and Lime Rock Partners. CrownRock had reportedly drawn bids from several oil and...
Mortgage rates will fall to 6% by 2025, but home-buying will remain subdued, report says
The housing market may turn a corner next year, but don’t expect it to improve significantly, a new report says. With mortgage rates dropping over the last few weeks, aspiring homeowners are seeing some relief as their borrowing costs fall. Rates have fallen from a...
Is the U.S. in a ‘silent depression’? TikTok thinks so. Economists don’t.
It must be the “worst economic time in American history.” The prices of cars and homes are “worse than 1930.” How is anybody “affording life right now”? By most traditional measures, the U.S. economy is in a decent place right now: employers are still hiring; GDP is...
This European company doubled its value in just six weeks
Few companies have seen a stock price roller-coaster quite like Adyen, the Dutch payment processing firm. Adyen ADYEN, +1.99% ADYEY, +1.73%, which has a devoted following on the social-media service X that is unusual for a European company, has seen its stock double...
Oil prices stabilize after longest losing streak since 2018
Oil futures stabilized early Monday following the longest losing stretch since 2018 as concerns about a slowing global economy, coupled with booming U.S. supply, helped keep prices anchored around $70 a barrel. Price action West Texas Intermediate crude for January...
Shake Shack launches search for new chief executive, keeps guidance for Q4
Shake Shake Inc.’s stock rose 2.4% after it said the upcoming retirement of its chief executive has had no impact on its expected fourth-quarter forecast as it launches a search for a replacement. Shake Shack SHAK, -1.20% said it’s working with consultant Korn Ferry...
Ryanair’s strikes are hitting its profits and stock price
London CNN Business — Ryanair could be headed for a rough landing this year. Europe’s leading low cost airline slashed its profit forecast for the current fiscal year to between €1.1 billion ($1.27 billion) and €1.2 billion ($1.39 billion). That’s about €150 million...
Goldman Sachs’ new CEO has a lot of work to do
New York CNN Business — It’s a new era at Goldman Sachs. David Solomon, the part-time electronic dance DJ who previously served as president of the company and co-head of its investment banking division, took the reins from Lloyd Blankfein on Monday as CEO....
California has a new law: No more all-male boards
New York CNN Business — Companies headquartered in California can no longer have all-male boards. That’s according to a new law, enacted Sunday, which requires publicly traded firms in the state to place at least one woman on their board of directors by the end of...
Meet GE’s new boss: Can Larry Culp right the ship?
New York CNN Business — General Electric is turning to an outsider to clean up a mess that took decades to create. Larry Culp, 55, is a proven leader known for his hands-on approach. He received a hero’s welcome from Wall Street on Monday after suddenly being...
Tesla stock roars back after Elon Musk’s SEC deal
New York CNN Business — Investors cheered Tesla’s deal with the SEC that keeps Elon Musk as CEO. The stock surged 17% on Monday, more than wiping away Friday’s loss. Over the weekend, Musk agreed to a settlement with the SEC that requires him to step down as Tesla’s...
Stocks pop after new US-Canada-Mexico deal
New York CNN Business — The stock market appears to like the new trade agreement between the United States, Canada and Mexico. Stocks popped after all three countries agreed to an 11th hour deal to replace NAFTA. The Dow rose 193 points, a gain of 0.7%. The S&P...
Instagram gets a new chief: Facebook vet Adam Mosseri
New York CNN Business — Instagram has a new leader. On Monday, the company announced that Adam Mosseri will head Instagram effective immediately. Last week, Instagram founders Kevin Systrom and Mike Krieger announced they would leave the company. “We are thrilled to...
Tesla calms fears with strong sales numbers
New York CNN Business — A tumultuous quarter at Tesla ended with some very good sales numbers. The company delivered 83,500 vehicles during the third quarter, a strong performance that should calm investor fears about logistical problems and a looming cash crunch....
Goldman Sachs slants research to help Democrats, top White House adviser says
New York CNN Business — Kevin Hassett, one of President Donald Trump’s top economic advisers, suggested that Goldman Sachs may be slanting its economic research to help Democrats ahead of the midterm elections. The Goldman Sachs economics team “almost at times looks...
Volkswagen dumps jailed Audi CEO amid emissions probe
London CNN — Volkswagen has severed ties with suspended Audi CEO Rupert Stadler, who has been jailed since June in connection with an emissions investigation. Stadler has left the board of management of Audi parent company Volkswagen (VLKAF) and stepped down as...
S&P downgrades debt-riddled GE and GE Capital
New York CNN Business — New General Electric boss Larry Culp just got a fresh reminder of the debt-riddled balance sheet he’s inheriting. Barely 24 hours after Culp became CEO, S&P Global Ratings downgraded the credit ratings of GE (GE) and GE Capital. Moody’s...
Lululemon, Finisar, Target are stocks to watch
SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to see active trade in Thursday’s session are Lululemon Athletica Inc., Finisar Corp., and Target Corp. Lululemon Athletica LULU, -0.71% is projected to report first-quarter earnings of 32...
Amazon announces $15 minimum wage for all US employees
New York CNN Business — Amazon is raising its minimum wage to $15 an hour for all US employees. The change takes effect November 1 and applies to full-time, part-time and temporary workers. Amazon (AMZN) says the $15 minimum wage will benefit more than 250,000...
Intel, Finisar are Friday’s stocks to watch
SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to see active trading in Friday’s session are Intel Corp. and Finisar Corp. After Thursday’s closing bell, Intel INTC, -0.57% said it is raising its second-quarter revenue outlook on...
JCPenney names Jill Soltau as its new CEO
Editor’s Note: This story originally published on October 2, 2018. New York CNN Business — Jill Soltau, a veteran retail leader most recently in charge of Joann fabric and craft stores, will be tasked with turning around JCPenney. The company announced on Tuesday...
Covidien, Medtronic, are stocks to watch
MADRID (MarketWatch) — Among the companies whose shares are expected to see active trading in Monday’s session are Medtronic Inc. and Covidien PLC , as well as Layne Christensen Co. Medtronic MDT, +0.20% announced a deal on Sunday to buy Ireland-based Covidien PLC...
Tencent Music plans to public on US exchange
This story originally published on October 2, 2018. New York CNN Business — Tencent Music has filed plans to go public in the United States in what could be one of the biggest recent US IPOs by a Chinese company. The company set a placeholder target of $1 billion,...
Stocks to Watch: FedEx, Jabil, Red Hat are stocks to watch
Among the companies whose shares are expected to see active trade in Wednesday’s session are FedEx, Jabil Circuit, and Red Hat.
Toys ‘R’ Us brand may be brought back to life
New York CNN Buiness — Toys “R” Us may be coming back. The company closed all of its US stores in June as part of a bankruptcy liquidation. But the owners of the company’s remaining assets are looking into restarting the business, as well as the related Babies “R”...
BlackBerry, Oracle, Kroger are stocks to watch
SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to see active trade in Thursday’s session are BlackBerry Ltd., Oracle Corp., and Kroger Co. BlackBerry US:BBRY BB, -1.59% is projected to report a loss of 27 cents a share in the first...
Honda teams up with GM on self-driving cars
New York CNN Business — Honda and General Motors are teaming up to create a new generation of fully autonomous vehicles. Honda will invest $2 billion over 12 years into GM’s autonomous vehicle subsidiary, Cruise. GM and Cruise have been building and developing...
Stocks to watch: Oracle, Smith & Wesson, Family Dollar
SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to see active trade in Friday’s session are Oracle Corp., Smith & Wesson Holding Corp., and Family Dollar Stores Inc. After Thursday’s closing bell, Oracle ORCL, -0.10% said its fiscal...
Aston Martin IPO values James Bond’s favorite car brand at $5.6 billion
Aston Martin is joining the ranks of listed automakers with an IPO that values the British company at more than $5 billion. But its first day of trading in London got off to a rocky start. The favorite carmaker of fictional British secret service agent James Bond...
Wisconsin Energy, Oracle, GE are stocks to watch
NEW YORK (MarketWatch) — A spurt of acquisition announcements or talk of deals involving Wisconsin Energy Corp., Oracle Corp., and General Electric Co. may set those shares up for active trading in Monday’s session. Wisconsin Energy Corp. WEC, -0.23% said it would...
Barnes & Noble stock soars 20% as it explores a sale Barnes & Noble stock soars 20% as it explores a sale
Editor’s Note: This story originally published on October 3, 2018. New York CNN Business — Barnes & Noble stock jumped more than 20% after the board said it would consider a sale of the troubled company. The board said Wednesday it had appointed a special...
Google, Barnes & Noble are stocks to watch Wednesday
An earlier version of this story included companies that are scheduled to report earnings on Thursday, not Wednesday. The errors have been corrected. SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to see active trade in Wednesday’s session...
Why it’s time for investors to go on defense
CNN — It’s time for investors to start making safer bets. That’s what Howard Marks, co-chairman of Oaktree Capital, told CNNMoney editor-at-large Richard Quest on “Markets Now” on Wednesday. “Defense is more important than offense” right now, said Marks, the author...
Bed Bath & Beyond, GoPro, Nike are stocks to watch
SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to see active trade in Thursday’s session are Bed Bath & Beyond Inc., GoPro Inc., and Nike Inc. After Wednesday’s closing bell, Bed Bath & Beyond US:BBBY reported quarterly earnings...
7 things to know before the bell
Click chart for more in-depth data. 1. The race to driverless cars: SoftBank (SFTBF) and Toyota (TM) are forming a joint venture that will use driverless-car technology to offer new services, such as mobile convenience stores and delivery vehicles in which food is...
DuPont, Nike, KB Home are stocks to watch
SAN FRANCISCO (MarketWatch) — Among the companies whose shares are expected to see active trade in Friday’s session are DuPont, Nike Inc., and KB Home. DuPont DD, -0.31% : The chemical company late Thursday cut its second-quarter and full year profit outlook due to...
