Americans may feel somewhat removed from the Federal Reserve, but the central bank’s moves have a ripple effect on many types of consumer products, most notably the credit cards in their wallet.Nearly half of American households have credit card debt and pay more than 20% in interest, on average, on their revolving balances — making credit cards one of the most expensive ways to borrow money.”For millions of American households, credit card debt represents their highest-cost debt by a wide margin,” said Ted Rossman, senior industry analyst at Bankrate. Since most credit cards have a variable rate, there’s a direct connection to the…
Author: usaeverydaylife
Western Alliance Bank signage is displayed on the company’s Headquarters in downtown Phoenix, Arizona, on April 27, 2023.Patrick T. Fallon | AFP | Getty Images When you can’t repay a bank loan, that’s distressing — but probably not for the bank.But when tens of thousands of people, who had good credit ratings, can’t, it raises concerns about the health of the economy.And when it’s companies defaulting on very big loans, leading to charges — that is, money the bank writes off as a loss because it has given up on recovering it — and bankruptcies, it’s time for everyone to…
An American Airlines Embraer ERJ-190AR airplane flies past the tower where air traffic controllers work despite not receiving their paychecks, on the 22nd day of a partial government shutdown at Reagan National Airport in Washington.Joshua Roberts | ReutersTwo U.S. senators announced a deal on Thursday on aviation safety legislation after a fatal January collision involving an American Airlines regional jet and an Army helicopter that killed 67 people spurred calls for reform.Senate Commerce Committee chair Ted Cruz, a Republican, and the panel’s top Democrat, Maria Cantwell, unveiled a bipartisan agreement on legislation requiring aircraft operators to equip their fleets with an advanced aircraft-tracking technology known as ADS-B by the end of 2031 and other significant safety reforms, including…
Beijing has for a long time accused the U.S. of carrying out cyberattacks on Chinese targets. But more recently, it has accused the U.S.’s National Security Agency of hacking specific targets.Beebright | Istock | Getty ImagesRussia, China, Iran and North Korea have sharply increased their use of artificial intelligence to deceive people online and mount cyberattacks against the United States, according to new research from Microsoft.This July, the company identified more than 200 instances of foreign adversaries using AI to create fake content online, more than double the number from July 2024 and more than ten times the number seen…
As news of sour banks loans rattled Wall Street, CNBC’s Jim Cramer said the developments will pave the way for the Federal Reserve to lower interest rates — a move that investors across the board have been hoping for.”Today got real ugly, but at least we finally have something that can make the Federal Reserve itchy to cut interest rates sooner rather than later: bank loans gone bad,” he said. “Nothing motivates the Fed to move faster than credit losses, because they’re a definitive sign that the economy is going south.”The averages dipped during Thursday’s session as fears about the…
Aerospace manufacturer BETA Technologies’ electric aircraft, ALIA, is seen at John F. Kennedy Airport in New York City, U.S., June 3, 2025. It is the first Advanced Air Mobility flight into JFK Airport. Kylie Cooper | ReutersBeta Technologies updated the prospectus for its initial public offering on Wednesday, setting a price range that could value the company at $7.2 billion at the top end.The electric aircraft maker said it plans to sell 25 million shares at $27 to $33 each. The deal would raise as much as $825 million.The planned offering comes amid a dayslong government shutdown that threatens to…
Activity on Elizabeth Street (at the intersection of Bourke St Mall), Melbourne on a cloudy day.Charlie Rogers | Moment | Getty ImagesAsia-Pacific markets were set for a weaker open Friday, tracking losses on Wall Street as fears over the banking sector and trade tensions intensified.Shares of regional banks and investment bank Jefferies tumbled on Thursday stateside as fears mounted around some bad loans lurking in the U.S.In Asia, investors will take note of chip heavyweight Taiwan Semiconductor Manufacturing Co., which announced its third-quarter results after Taiwan’s market closed Thursday.Australia’s S&P/ASX 200 started the day 0.28% down.Japan’s Nikkei 225 futures also pointed to a…
Stocks @ Night is a daily newsletter delivered after hours, giving you a first look at tomorrow and last look at today. Sign up for free to receive it directly in your inbox. Here’s what CNBC TV’s producers were watching on Thursday and what’s on the radar for Friday’s session. The diet drugs and the White House President Donald Trump hinted Thursday that a deal was in the works to bring down the price of obesity drugs. Novo Nordisk shares fell almost 4% after hours. The stock is down more than 50% in a year. Eli Lilly is down nearly…
Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., speaks during an unveiling event in New York, US, on Wednesday, May 14, 2025. Yuki Iwamura | Bloomberg | Getty ImagesUber plans to offer drivers and couriers in the U.S. ways to make money through the company’s app when they’re not ferrying around people or food.The ride-hailing company said on Thursday that it’s starting a pilot with its AI Solutions Group that will allow drivers to complete small online jobs. The example Uber gave is “uploading photos to help train AI models,” which the company said is already being tested in…
Walmart (WMT) had a huge day Tuesday, jumping 5% on news of its partnership with OpenAI. We last discussed the stock from a chart perspective back in mid-summer with clients, when we were tracking two developing bullish patterns (shown in green and blue). Neither of those setups ultimately gained traction, but importantly, their risk levels were never violated either, which kept the broader structures intact. That stability allowed this new bullish pattern to form starting in early August — and following Tuesday’s surge, that pattern has now broken out decisively. At this point, WMT can be viewed as having three…
