Back in December 2023, when the market was pricing in six or so rate cuts, Apollo Asset Management’s co-president Scott Kleinman had a more contrarian view: He said he’d be betting against any rate cuts in 2024. That call so far has paid off. But higher-for-longer rates haven’t necessarily been a tailwind for the private-equity industry as
The U.S. economy has remained remarkably strong. Boosted by a strong labor market, the country has continued to expand since the Covid-19 pandemic, sidestepping earlier recessionary forecasts even after a series of Federal Reserve interest rate increases. And yet, consumer sentiment recently sank to a six-month low. That disconnect is what Joyce Chang, JPMorgan’s chair of global research, calls a “vibecession.”
Joe Biden and Donald Trump 2024. Brendan Smialowski | Jon Cherry | Getty Images The stock market has yet to price in a potential outcome in the presidential election, a rematch between President Joe Biden and former President Donald Trump. In general, election years are not great for the stock market leading up to voting day,
Sean De Burca | The Image Bank | Getty Images There’s a growing debate over how higher taxes on the wealthy affect interstate migration trends — and some experts say millionaire tax flight is underway. “Taxes are an important part of this puzzle,” said Jared Walczak, vice president of state projects for the Tax Foundation,
Skynesher | E+ | Getty Images New technologies have given people access to more information and new tools to manage their money. Robo-advisors can build and rebalance portfolios based on customer preferences. However, automation doesn’t factor in people’s emotional needs. Experts say adding behavioral science to investing knowledge can help financial advisors get better results
People walk outside of the New York Stock Exchange in New York City on July 25, 2022. Spencer Platt | Getty Images The S&P 500 climbed to yet another record close on Tuesday. The index, which tracks the performance of about 500 of the largest U.S. company stocks, has jumped 53% since inflation peaked in 2022,
Longhua Liao | Moment | Getty Images Some investors may worry about market volatility ahead, given a contentious presidential race, lingering inflation, sinking consumer sentiment and uncertainty over Federal Reserve interest rate cuts. Financial analyst Tom Lee has a more optimistic outlook. “Since Covid, companies went through a huge stress test, and they showed that
Michael M. Santiago | Getty Images The U.S. stock market has been swooning. But there are risks that threaten to put a lid on the euphoria. The three “primary” risks are Federal Reserve policy, a surprise recession and lower-than-expected results on companies’ earnings, David Rosenberg, founder and president of economic consulting firm Rosenberg Research &
Civilians board a train as they flee Russia’s invasion of Ukraine, in Odessa, Ukraine, March 9, 2022. Alexandros Avramidis | Reuters Within hours of Russia’s attack on Ukraine in 2022, the country’s financial system began to show signs of strain. As banks swiftly shut down, the Ukrainian economy quickly spiraled into wartime mode and civilians
Prostock-studio | Istock | Getty Images Poor performance may drive some people to break up with a financial advisor, but judging an advisor’s results is not only about the profits, or lack thereof, on your investments. Often, it is about trust, some experts say. “The No. 1 reason people tend to go with an advisor
SDI Productions | E+ | Getty Images A gradual cooling of the labor market has made it tougher to find a new job, but overall conditions are still favorable for job seekers. “Things have gotten competitive,” said Julia Pollak, chief economist at ZipRecruiter. “Don’t get discouraged; there are opportunities out there,” she added. “This is
Sally Anscombe | Moment | Getty Images When saving for retirement, investing sooner typically boosts growth over time. But you can lose money by maxing out your 401(k) too early in the year — unless the plan has a special feature. Most 401(k) plans offer an employer match, which uses a formula to deposit extra
“Spaving,” or spending more to save more, has become a dangerous habit for cash-strapped Americans amid elevated inflation and mounting debt. Though inflation eased in April, the consumer price index was still up 3.4% from a year prior. Despite higher prices, Americans continue to spend. To that point, credit card debt reached $1.12 trillion in
Ippei Naoi | Moment | Getty Images Generation X is known as the sandwich generation because they sit between having a combination of financial or emotional responsibility for adult children and aging parents — in addition to managing their own current lifestyle aspirations and securing their retirement future. It’s a lot to deal with, and
Justin Paget | Digitalvision | Getty Images The work-from-home trend is here to stay. Many companies have continued to let employees work remotely for at least some of the workweek — four years on from the early days of the Covid-19 pandemic — due to the win-win nature of the arrangement: Remote work is more
Andresr | E+ | Getty Images College graduates who recently received their diplomas may be dreading the next milestone: The start of their federal student loan payments. Each year, roughly 2 million people in the U.S. are awarded a bachelor’s degree, according to an analysis by higher education expert Mark Kantrowitz. Roughly 60%, or 1.2
Jamie Grill | Getty Images Mega backdoor Roth conversions can significantly boost tax-free retirement savings — but this maneuver is not available for all investors and mistakes are common, experts say. When investors make too much to save directly to a Roth individual retirement account, backdoor strategies can bypass the IRS income limits. A mega
Maca And Naca | E+ | Getty Images Your student loan bill may get smaller next month. Here’s why: A feature of the Biden administration’s latest income-driven repayment plan that will reduce millions of borrowers’ monthly payments kicks in on July 1. For some borrowers, “it’s a dramatic drop,” said higher education expert Mark Kantrowitz.
Alvaro Gonzalez | Moment | Getty Images Despite a strong labor market, some applicants are facing more competition on the job hunt. But prolonged unemployment and lower income for 2024 could offer the chance for tax planning, experts say. One “silver lining” of a job layoff can be a temporary lower federal income tax bracket,
Count Baked by Melissa founder Melissa Ben-Ishay among the entrepreneurial success stories founded on getting out of the corporate rat race. Before starting her company, Ben-Ishay worked at an ad agency in New York City – a role she felt unfulfilled in. The day she was fired was an “aha moment,” she recently told CNBC.
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