Charging port for a Ford Motor Co. Mustang during the Washington Auto Show in Washington, D.C., on Friday, Jan. 21, 2022. Al Drago | Bloomberg | Getty Images As gas prices hit record highs, some Americans might be tempted to go electric and ease the pain at the pump. But finding a shiny, new electric vehicle
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In this article ZM Zoom founder Eric Yuan speaks before the Nasdaq opening bell ceremony on April 18, 2019 in New York City. Kena Betancur | Getty Images Zoom shares rose 16% in extended trading on Monday after the provider of video chat software reported better-than-expected first-quarter earnings and issued an upbeat forecast for the
Traders on the floor of the NYSE, May 17, 2022. Source: NYSE U.S. stock futures rose on Tuesday night after the Nasdaq Composite dropped during the regular session, following a warning of slowing growth from social media company Snap that hurt the tech-heavy index. Dow Jones Industrial Average futures rose 111 points, or 0.4%. S&P
Tom Merton | Ojo Images | Getty Images With summer around the corner, the wealthy are preparing their lists of elevating beach reads. And this year, their Goyard tote bags are likely to be filled with books about innovation, technology and Greek gods. J.P. Morgan Private Bank on Tuesday announced its 23rd annual Summer Reading
Many Americans are worried that the U.S. economy is on feeble footing. As the Federal Reserve raises interest rates to combat the highest inflation in 40 years, tipping the U.S. into a recession is becoming an increasing concern. Still, it’s not likely that the U.S. economy will stop growing this year, former Federal Reserve vice
In this article WEN A drive-thru window of a Wendy’s restaurant in Peoria, Illinois. Daniel Acker | Bloomberg | Getty Images Shares of Wendy’s surged roughly 15% in extended trading Tuesday after a filing revealed hedge fund Trian Partners, its largest shareholder, is exploring a potential deal with the company. Trian, along with its partners,
In this article JWN A pedestrian and cyclist wear facemasks outside a branch of department store chain Nordstrom in Santa Monica, California on May 11, 2020. Frederic J. Brown | AFP | Getty Images Nordstrom on Tuesday reported fiscal first-quarter sales ahead of analysts’ expectations and hiked its full-year outlook, citing momentum in the business
While retail investors head for the exits as stock prices sharply fluctuate, Evercore ISI’s Julian Emanuel wants to put money to work. He calls the market environment very ugly, but he believes the economy will avert a recession — particularly due to healthy credit markets and continued gains. “The path to higher [stock] prices really
Protesters take part in a demonstration against the World Economic Forum (WEF) during the WEF annual meeting in Davos on May 22, 2022. Fabrice Coffrini | Afp | Getty Images A group of over 150 millionaires are calling on the elite attendees of this year’s World Economic Forum in Davos, to tax them more. The
PeopleImages | iStock | Getty Images For investors nearing retirement or already retired who need the certainty of cash but want to squeeze out a bit more yield, a certain investment in your 401(k) plan may fit the bill. It’s called a stable value fund (or something similar) and typically is available only through defined
Ozgurcankaya | E+ | Getty Images Before you book a rental property for a summer getaway, you may want to double check that you’re not getting scammed. This week, New York State Attorney General Letitia James issued a warning for consumers seeking rental properties. “Summer plans can quickly melt if consumers aren’t careful when they
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In this article BBY Customers shop at a Best Buy store on August 24, 2021 in Chicago, Illinois. Best Buy reported an increase in second-quarter sales of nearly 20% as consumers purchased electronics to adjust to lifestyle changes related to the ongoing pandemic. Scott Olson | Getty Images Best Buy shares rose early Tuesday, as
A person carries a bag from the Abercrombie & Fitch store on Fifth Avenue in New York City, February 27, 2017. Andrew Kelly | Reuters Abercrombie & Fitch shares tumbled more than 20% in premarket trading Tuesday after the retailer reported an unexpected loss in its fiscal first quarter, with freight and product costs weighing
In this article BAC Brian Moynihan, CEO of Bank of America, speaking at the WEF in Davos, Switzerland on May 23rd, 2022. Adam Galica | CNBC U.S. consumers are “in good shape” and will keep spending at an elevated clip, at least in the near term, according to Bank of America CEO Brian Moynihan. “Consumers
Bill Oxford | E+ | Getty Images If you’re still waiting for a tax refund, there’s a silver lining: it may be accruing interest, and the rate jumps to 5% from 4% on July 1, according to the agency’s latest quarterly adjustment. Typically, the IRS has 45 days after the filing deadline to process returns
Ariel Skelley | Digitalvision | Getty Images The double whammy of a declining stock market and rising interest rates has been pummeling homebuilder stocks this year, resulting in rock-bottom valuations. Those valuations make housing stocks look like the worst home in a bad neighborhood. But in reality, the industry is the cheapest house in an
President Joe Biden boards Air Force One on May 22, 2022. Saul Loeb | AFP | Getty Images At the pump, in the supermarket, with his landlord — all of Ryan Tucholski’s bills are going up lately. But there’s one expense he hopes will soon go down or maybe even disappear: his monthly student loan
Many renters believe that a cost-of-living crisis is brewing in America’s major cities. New York City is showing up as a hotspot of rent inflation. The average rent for 1-bedroom apartments in Manhattan rose to $3,995 a month in May 2022 — a 41% increase from one year ago, according to Zumper. Sudden, double-digit rent
Sales of newly built homes dropped 16.6% in April from March, far more than expected, and were down 26.9% from April 2021, according to the U.S. Census. The annualized rate came in at 591,000 units, seasonally adjusted. Analysts had been expecting 750,000. March’s read was also revised lower. That is the slowest sales pace since