Economy
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The power dynamic between landlords and tenants could change as rent prices slow down in some cities
Renters may still be feeling the sting of skyrocketing price increases from two years ago, but at least those costs are unlikely to worsen this year, according to data from the real estate website Zillow Z, +1.69%. For about a year, typical rent prices have been slowing down nationwide, and May was no exception, according…
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Nasdaq falls for third day as investors focus on Powell testimony
U.S. stocks traded mostly lower on Wednesday for a third day as investors tune into Federal Reserve Chairman Jerome Powell’s semi-annual speech to Congress on the economy and possibly interest rate direction. How are stocks trading? The Dow Jones Industrial Average DJIA, +0.11% was flat, trading at 34,053. The S&P 500 SPX, -0.26% dropped 18…
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Boomers ‘selling homes ahead of the recession’
If you’re on the cusp of retirement and you fear a recession is on its way, what steps should you take to protect your finances? For millions of Americans in this situation, one simple answer is: Sell your home while you still can. And move into somewhere smaller. (Or rent.) About 13% of baby boomers, or…
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Do you really need an MBA? Here are some ways to get business skills without the steep price tag.
Lindsay Mack earned her bachelor’s degree from Georgetown University in 2005. Nearly 15 years later, when she considered the best way to grow her business acumen, an MBA was not it. Mack, who is from Philadelphia, grew her career without an MBA. When ready to advance her skills in platform strategy, she opted for a…
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Wall Street’s leading bear is doubting himself, a little. Here’s what is worrying Morgan Stanley’s Mike Wilson now
Arguably Wall Street’s most pessimistic voice has been so surprised by the market rally that he is questioning the firm’s own corporate earnings model. “Given we have been so wrong about the S&P 500 this year, we have been trying to decide if our earnings model may be misleading us,” says Mike Wilson, Morgan Stanley’s…
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‘It’s the reality of life.’ Disabled and DoorDashing for extra money at 67
William Smith worked in the restaurant industry his whole career and never thought much about retirement. When he was forced into retirement after getting hurt on the job, he had what he called a “pity party.” Now, at 67, he delivers for DoorDash to supplement his disability payments. His wife also is a “Dasher.” “It’s…
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Student-loan payments are coming back — and these are the stocks most at risk
Great market expectations for the Tuesday after a long holiday weekend in summer are destined for disappointment. Apart from the hazy, lazy effect, China rate moves that fell short of hopes aren’t helping the mood, as investors wait for Fed Chairman Jerome Powell to appear on Capitol Hill later this week. The latest bearish remarks…
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This incredible chart shows the close relationship between the S&P 500 and Fed liquidity
Earnings, schmearnings. Is what really matters just liquidity? This incredible chart, from Apollo Global Management chief economist Torsten Slok, shows the close relationship between S&P 500 SPX, -0.37% performance and net Federal Reserve quantitative easing (QE) since the pandemic began. Here, Fed QE is defined as the Fed’s total assets minus the balance of the…
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Key U.K. mortgage rate tops 6% as Bank of England set to hike again
A key U.K. mortgage rate topped 6%, days ahead of a Bank of England rate decision where the central bank is again expected to lift interest rates. The average rate for the two-year fixed-rate mortgage stood at 6.01%, according to Moneyfacts. That’s a big shock as more than 1.4 million households this year face or…
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The consumer-led recession you’re worried about already ended months ago, the stock market says
Based on the idea that the stock market’s actions speak louder than those warning about an economic slowdown, the consumer-led recession many have been calling for appears to have ended months ago. And a chart of the consumer discretionary sector’s strength relative to the broader stock market suggests the recovery, if not a new growth…