A turbulent week on Wall Street ends with a “Thank Goolsbee, it’s Friday” rally, after the Chicago Fed President used a CNBC appearance to refocus investors’ attention on the still-encouraging trend in inflation and the likelihood that interest rates still have room to be trimmed in the context of a healthy economy. Friday’s 1.1% relief bounce in the S & P 500 also owed plenty to the tame PCE inflation reading that morning, not to mention the preconditions of a rather washed-out stock market following three weeks of oppressive sub-surface selling pressure. Neither Austan Goolsbee’s predictably soothing words nor the…
Author: usaeverydaylife
In 2022, I quit my job to fulfill my longtime dream of traveling the world full-time for a year and a half. My journey through 12 countries in Asia and six in South America cost exactly $34,563.38.I stayed meticulous about one thing from beginning to end: I tracked every penny I spent, from a $600 flight to a 50-cent trip to the bathroom.I spent an average of about $1,920 per month, which is about my typical monthly budget living very frugally in LA and previously, in NYC. To make ends meet and save for my trip, I rented in uncool…
Dilara Irem Sancar | Anadolu | Getty ImagesHonda and Nissan are considering producing vehicles in one another’s factories as part of their plan to deepen ties and potentially merge, Japan’s Kyodo news agency said on Saturday.Honda will consider supplying hybrid vehicles to Nissan as part of the plan, the report said, without citing the source of the information.A merger of Honda, Japan’s second-largest car company, and Nissan, its third-largest, would create the world’s third-largest auto group by vehicle sales, behind Toyota and Volkswagen, making 7.4 million vehicles a year.The two automakers forged a strategic partnership in March to cooperate in…
By Pete Sampson, Joe Rexrode and Seth EmersonSOUTH BEND, Ind. — No. 7 Notre Dame cruised past No. 10 Indiana 27-17 in the first game of the 12-team College Football Playoff on Friday night. The Fighting Irish advance to play No. 2 Georgia in the Sugar Bowl on Jan. 1.Two interceptions in the first three drives and a 98-yard touchdown run by Notre Dame running back Jeremiyah Love got the first on-campus Playoff game off to a dramatic start. But the fireworks fizzled from there, particularly for the Hoosiers, until they finally reached the end zone twice in the final…
Editor’s note: This is the third story in a three-part CNBC series about the future of U.S. shopping malls, as developers transform the spaces to add new retailers, experiences and even apartments. Read the first and second parts.Malls used to be the destination for the buzziest stores. Now they’re home to the hottest restaurants.The slow death of department stores and rise of online shopping have hurt U.S. shopping malls, particularly over the last decade. The once-essential shopping centers have seen their numbers drop from a peak of 2,500 in the 1980s to roughly 700 these days, according to Coresight Research.But now…
Drs Producoes | E+ | Getty ImagesThe average 401(k) savings rate, including employee deferrals and company contributions, continued to climb in 2023, a new industry survey reported.In 2023, the average combined savings rate was 12.7%, up from 12.1% in 2022, with employees deferring 7.8% of pay and companies adding 4.9%, according to the Plan Sponsor Council of America’s yearly survey of more than 700 company 401(k) and profit-sharing plans. “The deferral rate has been trending up over time,” with dips during economic downturns, said Hattie Greenan, director of research and communications for the Plan Sponsor Council of America. More from Personal…
For 86 years, researchers at Harvard have been studying the lives of hundreds of people and their families to discover what makes us happy.For example, the Harvard Study of Adult Development found that happy people tend to have good conflict-resolution skills, exercise often and maintain positive relationships.Dr. Robert Waldinger, the study’s director and a professor of psychiatry at Harvard Medical School, recently appeared on Simon Sinek’s “A Bit of Optimism” podcast.When asked what the happiest people “get right” as teens and young adults, Waldinger said they “care about making a difference in the world, and they care about the world.”Even if…
A few years ago, Wes Bellamy, 38, took stock of his investment accounts in preparation to buy a home in Charlottesville, Virginia. It was then that he noticed significant gains in his 401(k).Although Bellamy, who is the chair of the political science department at Virginia State University, had been saving diligently for nearly a decade and making the most of his employer’s matching program, he said seeing his retirement account balance was “a pleasant surprise and a nice nest egg.”Since then, his 401(k) balance has continued to grow. “I’m at $980,000 — I’m not at a million yet but I’m…
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market bounce: Stocks made a strong comeback from their initial premarket lows. There are three key developments behind Friday’s rally. You had a deeply oversold S & P 500 Short Range Oscillator , which showed there was a heavy amount of selling pressure in the market. We provided some historical context around a minus 8% Oscillator early Friday — noting it’s usually been a good time to buy with a 30-day view.…
A sign in a Party City store in Miami, Florida, on Jan. 18, 2023.Joe Raedle | Getty ImagesParty City on Friday announced it will close all of its stores and has initiated corporate layoffs effective immediately, according to a CNN report.CEO Barry Litwin told corporate employees in a meeting viewed by CNN that Party City has to “commence a winddown process immediately,” and that Friday would be their last day of work for the company.”That is without question the most difficult message that I’ve ever had to deliver,” Litwin said at the meeting, according to the report.CNN reported the company’s…
