Valentinrussanov | E+ | Getty Images Retirement balances for midcareer workers declined between 2019 and 2022, despite gains on financial assets such as stocks during that period, according to new research. However, the loss isn’t necessarily as bad as it may initially seem, financial experts said. Median combined 401(k) plans and individual retirement account balances
Month: December 2023
It’s that time of year when online shopping increases as families buy their holiday gifts online. Shipping of items ordered usually goes smoothly but sometimes glitches happen. That’s exactly what scammers know and try to use to their advantage. Some of our aging parents may not be on the lookout for fake messages sent to
In this article LUV Follow your favorite stocksCREATE FREE ACCOUNT Southwest Airlines CEO Bob Jordan speaks as he is interviewed by CNBC outside the New York Stock Exchange on Dec. 9, 2021. Brendan McDermid | Reuters With the peak Christmas travel season just days away, Southwest Airlines‘ CEO vowed that the carrier will not have
KTSDesign | Science Photo Library | Getty Images It’s arguably the biggest stock story of 2023: a small number of giant technology companies now make up a very large part of big indexes like the S&P 500 and the Nasdaq-100. Five companies (Apple, Microsoft, Amazon, Nvidia and Alphabet) make up about 25% of the S&P 500. Six
Shohei Ohtani, formerly of the Los Angeles Angels, pitches during a game in Anaheim, California, on July 6, 2021. Daniel Shirey | Major League Baseball | Getty Images Shohei Ohtani made history this week with a 10-year, $700 million contract to play for Major League Baseball’s Los Angeles Dodgers. The deal’s unique payout structure, however,
Traders work on the floor of the New York Stock Exchange during morning trading on December 13, 2023 in New York City. Michael M. Santiago | Getty Images The stock market is having a holiday party. But financial advisors urge investors to use caution for before joining in. “Don’t fall prey to irrational exuberance,” said
There is a seemingly endless debate about whether Americans have sufficient savings for retirement (for example, see these pieces from the American Enterprise Institute and the National Institute on Retirement Security). The answer is that many people do. But tens of millions do not. Overall retirement assets have grown enormously in recent years— to $36
In this article ETSY Follow your favorite stocksCREATE FREE ACCOUNT Etsy is laying off 11% of its workforce at the height of the holiday season as the e-commerce giant looks to restructure its business and streamline costs against a “very challenging” macro and competitive environment, the company announced Wednesday. Approximately 225 employees will be cut
The HSBC Holdings Plc headquarters building in Hong Kong, China. Paul Yeung | Bloomberg | Getty Images LONDON — Markets have entered a “new paradigm” as the global order fragments, while heightened recession risk means that “bonds are back,” according to HSBC Asset Management. In its 2024 investment outlook, seen by CNBC, the British lender’s
A view of clouds over Manhattan skyline in New York, United States on August 08, 2023. (Photo by Fatih Aktas/Anadolu Agency via Getty Images) Anadolu Agency | Anadolu Agency | Getty Images Manhattan rents fell for the first time in over two years, as the supply of empty apartments grew and renters held out for
In this article VRTX Follow your favorite stocksCREATE FREE ACCOUNT A sign hangs in front of the world headquarters of Vertex Pharmaceuticals in Boston on Oct. 23, 2019. Brian Snyder | Reuters Shares of Vertex Pharmaceuticals jumped Wednesday after the company’s painkiller, which is being tested as an alternative to opioids, significantly decreased pain in
In this article ADBE Follow your favorite stocksCREATE FREE ACCOUNT Adobe CEO Shantanu Narayen. Linda Dimyan | CNBC Adobe shares dropped more than 6% in extended trading Wednesday after the software maker posted a lighter-than-expected forecast for 2024. Here’s how the company did, compared to consensus estimates from LSEG, formerly known as Refinitiv: Earnings per
Jeffrey Gundlach speaking at the 2019 SOHN Conference in New York on May 6, 2019. Adam Jeffery | CNBC DoubleLine Capital CEO Jeffrey Gundlach said Wednesday the 10-year Treasury yield will continue to fall to the 3% range next year, following the Federal Reserve’s new forecast for rate cuts. “I think we’re still going to have bonds rallying,”
Maliha Fairooz said her first memory of traveling was from Bangladesh to London when she was four years old. “Most kids, when they’re on an airplane, they’re crying and throwing tantrums,” she said. “But not me — I was so excited. I remember flying through the clouds, looking down at the sky and thinking ‘I’m
Thomas Barwick | Stone | Getty Images Inflation has been falling gradually across the U.S. economy. This process, known as disinflation, means prices for consumer goods and services are rising but at a slower pace than they had been. However, inflation has actually turned negative in some sectors, like energy. Deflation, as this dynamic is
In this article PFE Follow your favorite stocksCREATE FREE ACCOUNT Shares of Pfizer fell Wednesday after the drugmaker forecast 2024 revenue and profit below Wall Street’s expectations, as it sees weak demand for its once-blockbuster Covid products. Pfizer also raised the target of its sweeping cost-cutting plan by $500 million, bringing the anticipated total to
The Federal Reserve on Wednesday held its key interest rate steady for the third straight time and set the table for multiple cuts to come in 2024 and beyond. With the inflation rate easing and the economy holding in, policymakers on the Federal Open Market Committee voted unanimously to keep the benchmark overnight borrowing rate
NASHVILLE, Tenn. — As Tennessee leads many states in financial literacy in public high schools, Junior Achievement of Middle Tennessee aims to boost those lessons through career, entrepreneurship and personal finance programs. Speaking to high school students in December at Junior Achievement’s Finance Park program in Nashville, CNBC’s senior personal finance correspondent Sharon Epperson shared
The Federal Reserve announced it will leave interest rates unchanged Wednesday, in a move that many believe will conclude the central bank’s rate hike cycle and set the stage for rate cuts in the year ahead. The Fed has raised interest rates 11 times since March 2022 — the fastest pace of tightening since the early 1980s. The
A Blue Origin New Shepard rocket lifts off with a crew of six from Launch Site One in West Texas on Dec. 11, 2021. Joe Skipper | Reuters Jeff Bezos’ Blue Origin is preparing to launch its New Shepard rocket for the first time in over a year, the company said Tuesday. “We’re targeting a
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