Many Americans are house-rich, at least on paper. Thanks to skyrocketing housing prices, homeowners are now sitting on nearly $30 trillion in home equity, according to the St. Louis Federal Reserve — just shy of the 2022 peak. That’s roughly $200,000 cash per homeowner in equity that can be tapped, which is the amount most lenders
This is part of our educational blog series, “The Short Form,” to simplify tax issues and explore the world through the lens of tax policy. Learn more about taxes with TaxEDU. Politicians often bemoan the trade deficit, but their disdain for this economic statistic is largely misplaced. The trade deficit reflects deeper choices about how we
In this article DIS CMCSA Follow your favorite stocksCREATE FREE ACCOUNT Hulu Rafael Henrique | SOPA Images | LightRocket | Getty Images The timeline to decide Hulu’s ownership fate has been moved up, Comcast CEO Brian Roberts said Wednesday. Comcast and Disney are set to begin those discussions on September 30, months earlier than the
Apple phones on display in an Apple store in Miami, Florida, May 4, 2023. Joe Raedle | Getty Images Check out the companies making headlines in premarket trading Thursday. Apple — Apple shares fell more than 2.6% after Bloomberg News reported China is planning to extend a ban on iPhone use to state-owned corporations. A
Luke Chan | E+ | Getty Images Almost half — 46% — of 401(k) investors don’t know what investments are in their workplace retirement plan, according to a new CNBC Your Money Survey. But that’s not necessarily bad news, financial advisors said. That’s because most employers that offer a 401(k) plan automatically enroll workers into
John M Lund Photography Inc | Digitalvision | Getty Images Most Americans will have to rely on their savings to fund their retirement, but financial stress makes it hard for many workers to save. A new CNBC Your Money Survey conducted by SurveyMonkey found that 74% of Americans are feeling financially stressed, up from 70%
In this article STLA F GM Follow your favorite stocksCREATE FREE ACCOUNT A strike by the United Auto Workers union against the Detroit automakers would help President Joe Biden and other politicians pick a side when it comes to organized labor, UAW President Shawn Fain said Wednesday night. “I think our strike can reaffirm to
Tencent showed off its tech at the 2023 World Artificial Intelligence Conference in Shanghai, July 8, 2023. Nurphoto | Nurphoto | Getty Images Chinese tech giant Tencent is launching its artificial intelligence model “Hunyuan” for business use at an annual summit on Thursday, Dowson Tong, CEO of the cloud and smart industries group at Tencent,
It may have seemed like a good idea at the time. In an apparent attempt to create a shortcut, two people allegedly used heavy machinery to remove a sizeable section of the Great Wall of China in Shanxi province, according to an online notice by local authorities. The duo used an excavator to widen a
Florida Gov. Ron DeSantis laughs during a press conference in Auburndale, Florida, Jan. 30, 2023. Paul Hennessy | Lightrocket | Getty Images During a campaign event in Iowa in early August, Republican presidential hopeful Ron DeSantis made it clear that he was against student loan forgiveness. Given broad criticism on the issue from Republicans, the
How the U.S. Can Piece Together a Solution for Pillar Two Skip to content Home • Blog • How the U.S. Can Piece Together a Solution for Pillar Two One of the great skills of competitive sports is salvaging a narrow win—or at least, a draw—from a lost position. The U.S. may need to activate
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In this article DIS WBD Follow your favorite stocksCREATE FREE ACCOUNT A scene from the “Barbie” movie. Courtesy: Warner Bros. Hollywood bet big on blockbuster franchise sequels to revive its summer cinema business, but it was fresh fare like “Barbie” and “Oppenheimer” that fueled the industry’s haul of $4 billion, a 19% jump from last
The Tesla logo is seen on a charging station in Virginia, Aug. 16, 2023. Celal Gunes | Anadolu Agency | Getty Images Check out the companies making the biggest moves midday. Roku — Shares popped 3% after the streaming company announced it would lay off 10% of its staff, consolidate office space and look to
I’ve been a professor of economics for nearly 40 years. My goal has always been to make the subject as accessible as possible for everyone, on both a personal and global level. One of the biggest lessons I share with my students — and people who ask me for personal finance tips — is that
Getty Images When it comes to earning a decent yield on their savings, consumers may wonder: Should I choose a money market fund or a high-yield savings account? The purpose of each is similar. They generally serve as repositories for emergency funds or savings earmarked for the short term, perhaps to buy a car, home
In this article WFC Follow your favorite stocksCREATE FREE ACCOUNT Senator Bill Cassidy, R-La., seen at the U.S. Capitol on Feb. 11, 2021. Joshua Roberts | Reuters Republican senators Bill Cassidy, M.D., of Louisiana; John Thune of South Dakota and more than a dozen other GOP colleagues introduced a Congressional Review Act resolution this week
A “For Sale” sign is displayed in front of a home on August 30, 2023 in Los Angeles, California. Mario Tama | Getty Images After rising sharply for several weeks, mortgage interest rates pulled back slightly last week, but not enough to revive mortgage demand. Total mortgage application volume fell 2.9% last week, compared with
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