Economy
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‘He’s content living paycheck to paycheck’: My husband won’t work or get a driver’s license. Now things have gotten even worse.
I am married, but we are both different people, and I get the feeling my husband doesn’t even like me. He’s too tired to leave, and we don’t have anything but bills. He doesn’t have a driver’s license, and he won’t even go to court to pay his fines and get it back. He’s content…
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AI stock moves have ‘clearly been extreme,’ but the ‘kicker’ they provide prompts Citigroup to upgrade U.S. equities
Citigroup strategists has raised their recommendation on U.S. equities to neutral from underweight as recent advances in artificial intelligence (AI) boosts tech shares, while signs that the Federal Reserve is nearing the end of its interest rate-hiking cycle are also expected to drive U.S. stocks outperformance. While price moves for AI-related stocks have “clearly been…
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Here’s what’s in the emerging debt-ceiling deal — such as a cut to the IRS
President Joe Biden’s team and House Speaker Kevin McCarthy’s deputies are nearing a deal that would raise the U.S. debt ceiling and avoid a market-shaking default, though getting it through Congress quickly could prove tricky.  McCarthy has said he’ll follow a rule to post any bill for 72 hours before votes, so that could mean…
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American workers’ expectations for a comfortable retirement hit the lowest level in 11 years, Gallup says
American workers’ expectations that they will live comfortably in retirement fell to the lowest level in 11 years amid high inflation and fears of a recession, according to the latest Gallup survey. Just 43% of non-retired Americans’ think they will live comfortably in retirement, the most pessimistic rate since 2012. The sentiment dropped 10 percentage…
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Gen Z wins retirement saving as overall balances rise and 401(k) loans drop
Despite fears of a potential recession, stubborn inflation and interest-rate hikes, Americans socked away more money for their retirement in the first quarter, especially the youngest workers, Generation Z, according to Fidelity Investment’s first-quarter analysis. In a review of 44.5 million retirement accounts, Fidelity found that account balances are up for the second quarter in…
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Nasdaq posts biggest gain in 3 weeks as Nvidia boosts tech, Dow extends losses to 5th day
U.S. stocks closed mostly higher on Thursday, with Nvidia Corp. earning helping lift the Nasdaq to its best day in three weeks. Losses for the Dow continued into a fifth-straight session though as U.S. debt-ceiling talks dragged on in Congress. Price action The Dow DJIA, -0.11% fell 35.27 points, or 0.1%, ending at 32,764.65, after…
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Bad news for homebuyers: Mortgage rates climb amid U.S. debt-ceiling concerns
The numbers: A strong U.S. economy and concerns about a potential U.S. default on its debt pushed mortgage rates higher this week. The 30-year fixed-rate mortgage averaged 6.57% as of May 25, according to data released by Freddie Mac on Thursday. It’s up 18 basis points from the previous week — one basis point is…
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McCarthy addresses debt-ceiling angst: ‘I would not, if I was in the markets, be afraid of anything’
House Speaker Kevin McCarthy on Wednesday made an effort to address concerns among investors that a divided Washington won’t be able to make a deal on a debt-ceiling increase and thereby avoid a market-shaking default. “We are working night and day. I would not, if I was in the markets, be afraid of anything in…
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What you should do right now to prepare for a debt-ceiling breach
If the U.S. government cannot pay all its bills because of a debt-ceiling impasse, household borrowing costs could soar, the job market could shed millions of jobs and stock-market valuations could shrink, according to forecasts. The consequences of a prolonged default could be grim, according to Moody’s Analytics. The projected fallout from a brief default…
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‘Her behavior is egregious’: My sister blocked my number. Should I remove her from our $70 family cellphone plan?
Dear Quentin, My sister and I, both adults who are married, have run into some major problems in our relationship with each other. We have always been close but we grew up in a tumultuous household that has left us both with deep emotional scars. Recently, she has decided to at least, in my opinion,…