Economy
-
USPS issues warning over check fraud: Go directly to the post office to mail a check
The U.S. Postal Service has issued a new warning: be careful when mailing checks. The USPS reported a recent surge in attacks on letter carriers and mail fraud, stating that 305 mail carriers were robbed in the first half of fiscal-year 2023, compared with 412 last year. Many of the USPS’s thefts occurred when mail…
-
Here are the top-performing ETFs in first half of 2023 as crypto-related funds soar
Hello! This week’s ETF Wrap looks at top performers in the first half of 2023, as well as flows, as stocks rally and crypto-related funds jump so far this year. Please send feedback and tips to [email protected] or [email protected]. You can also follow me on Twitter at @cidzelis and find me on LinkedIn. Isabel Wang is on Twitter…
-
‘Retirement is so traditional,’ try periodic retirement to figure out what’s next
During the recovery from the pandemic several workplace catchphrases generated buzz, including quiet quitting, great resignation, and hybrid work. Expressions like these in the aggregate reflect a much larger conversation rethinking work, purpose, and the good life in the postpandemic economy. I’d like to throw another term into the mix that I hope will gather…
-
A breakfast-cereal giant’s grumbles about prices could be music to the Fed’s ears
General Mills the megamanufacturer behind your morning Cheerios, reported a drop in earnings that might make it question whether continuing to raise prices is worth it. General Mills GIS, +0.52% CEO Jeff Harmening acknowledged during the company’s fourth-fiscal-quarter earnings call this week that consumers responded to higher prices by making fewer purchases. “As you look…
-
Biden’s student loan ‘on-ramp’ explained: Missed payments won’t hurt credit, but interest keeps adding up
President Joe Biden said he was “discouraged” and “angry” about the Supreme Court’s decision to block his student loan forgiveness plan on Friday — but there could still be some relief in sight for the roughly 40 million borrowers who would have benefited from seeing $10,000 to $20,000 of their debt disappear. Biden announced “a…
-
This economist says he can’t rule out a Fed interest-rate cut by year-end. Here’s why.
Wharton professor Jeremy Siegel said on Friday that he is not ruling out an interest- rate cut by the Federal Reserve by the end of the year, despite market expectations. Traders in federal funds futures are pricing in a scant 1% chance that the central bank will lower its key interest rate from the current…
-
JPMorgan, Goldman, Citi and Morgan Stanley boost dividends after Fed stress tests
Major U.S. banks including Morgan Stanley and JPMorgan Chase & Co. announced dividend increases late Friday, in the wake of the results of the Federal Reserve’s latest bank stress tests earlier this week. JPMorgan JPM, +1.40% said it plans to raise the bank’s dividend to $1.05 a share, up from $1 a share, for the…
-
Nvidia has investors wondering: How long can a stock grow faster than the market?
Few companies grow at above-average rates for more than a year or two. Or, as the late British economist and philosopher John Maynard Keynes famously put it, trees don’t grow to the sky. This is especially important to remember now, with exuberant investors giving huge valuations to certain tech stocks. The poster child of such…
-
The Biden administration has a new strategy for student-loan forgiveness — but there are risks it could meet the same fate
Hours after the Supreme Court struck down his student-debt relief plan, President Joe Biden announced that he would look to cancel debt en masse via other means. But whether borrowers’ wallets feel the impact of the announcement will depend on its implementation, experts say. The court ruled Friday that the Biden administration doesn’t have the…
-
Like shoppers at a retail store, IPO investors are demanding discounts and displaying price sensitivity
IPO investors, much like retail shoppers in recent years’ inflationary environment, are demanding clear discounts and demonstrating sensitivity to price and valuations, according to Renaissance Capital. The provider of IPO exchange-traded funds and institutional research said that’s a positive — even if tech unicorns in the pipeline would prefer it were not the case. “Quality……