Economy

Average mortgage rates for popular 30-year and 15-year terms inch lower as of Monday, July 22, 2024, after last week's trending down of rates across the board. The Federal Reserve meets for its rate-setting session next week, where it's expected to push a cut to the benchmark interest rate to September. While the Fed doesn't set mortgage rates,…

Stocks pulled back from record highs amid pressure across the technology sector after a global tech outage sent shockwaves throughout the market on Friday.The S&P 500 (^GSPC) ended the week down nearly 2% while the Nasdaq Composite (^IXIC) dropped more than 3.5% on the week. Both indexes had their worst weekly performance since April.…

BCA Research identified six key reasons why the U.S. economy may struggle to achieve a soft landing, as outlined in their latest note "Cold Hard Facts: Positioning For An Economic Slowdown." Here are the six factors they believe could prevent a soft landing: 1. Consumers Are Tapped Out: The firm notes that consumer spending is weakening, which…

A historic transfer of wealth is now in motion as trillions of dollars held by older generations are moved down the line. And according to a new report, one under-explored facet of the transfer is just how much money is about to move “horizontally.” In its 2024 Global Wealth Report, UBS says that within the next 20…

Auto insurance prices have risen 19.5% from a year ago, according to data from the US Bureau of Labor Statistics, and they may not be done rising yet.S&P Global Market Intelligence insurance sector strategist Tim Zawacki joins Wealth! to discuss the state of the insurance sector, climate change's impact on it, and how it may operate move…

By Lindsay (NYSE:) Dunsmuir and Ann Saphir (Reuters) -U.S. economic activity expanded at a slight to modest pace from late May through early July with firms expecting slower growth ahead as they also reported signs the jobs market continues to soften, in line with the Federal Reserve's recent pivot to more keenly assessing slowing demand for…

CNBC's Jim Cramer on Tuesday pointed out that there is a discrepancy between the economy's performance and the general sense of pessimism that many Americans feel towards the economy."The market, which reflects the reality of the economy, is benefitting plenty of people, but not nearly enough to change the mood of the nation," he said.Cramer…

By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. Asia's economic calendar is remarkably light on Tuesday, allowing markets to take their cue from broader drivers such as China's deepening economic malaise, the shifting outlook for U.S. monetary policy, and the Q2 earnings season on Wall Street. Investors also continue to…

By Jamie McGeever(Reuters) - A look at the day ahead in Asian markets.A dramatic escalation in U.S. political tension and violence looms over world markets on Monday after the attempted assassination of former President Donald Trump on Saturday, with Asian assets the first to show what the impact - if any - will be on trading and investing.If…

The number of U.S. companies that filed for bankruptcy last month topped the highs seen during the early stages of the pandemic in 2020, when the economy was reeling from lockdowns. A report Monday from S&P Global Market Intelligence said June saw 75 filings, up from 62 in May and above the pandemic-era peak of 74 in July 2020. The…