Investing
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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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Three years after George Floyd’s death, there’s been a lot of promises but ‘not much substance’ on racial equality, nonprofit CEO says
Three years after George Floyd was murdered by a Minneapolis police officer — a May 2020 killing captured in a shocking viral cellphone video that spurred racial-justice uprisings nationwide — there have been “a lot of pledges” for reform, but “not much substance,” said Gary Cunningham, the outgoing president and CEO of Prosperity Now, a…
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Nutanix stock pops after earnings as company gives upbeat outlook
Nutanix Inc. gave an upbeat outlook for its fiscal fourth quarter Wednesday, and its shares were surging in the aftermarket. The cloud-platform company reported a fiscal third-quarter net loss of $81.2 million, or 35 cents a share, compared with a loss of $112.0 million, or 50 cents a share, in the year-earlier period. On an…
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How much should the average person spend on an engagement ring and today’s 21-year-olds are ‘adulting’ later than people that age did in 1980
Hi, MarketWatchers. Don’t miss these top stories. Jeff Bezos reportedly spent upwards of $5 million on Lauren Sanchez’s engagement ring — but what should the average person spend? How much should you spend on an engagement ring? Here’s what to know when shopping for a ring — and how you can save some money without…
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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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Nvidia barrels toward rare $1 trillion valuation after putting a dollar figure on AI boost
Nvidia Corp. headed toward market-capitalization gains of nearly $200 billion in after-hours trading Wednesday, which could put the chip maker within sight of becoming only the seventh U.S. company to top a valuation of $1 trillion. Nvidia shares NVDA, -0.49% jumped 25% in the extended session Wednesday, after executives predicted that revenue would exceed the…
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Bill Ackman resurrects billionaire feud, saying Carl Icahn needs a friend
“‘Icahn’s favorite Wall Street saying: “If you want a friend, get a dog.” Over his storied career, Icahn has made many enemies. I don’t know that he has any real friends. He could use one here.’” — Bill Ackman, Pershing Square Capital Management That was billionaire hedge-fund manager Bill Ackman, founder and chief executive of…