Americans’ love affair with cash may be costing them in the long run, according to Wells Fargo. The bank believes “the time may have come” to start pulling money out of cash vehicles like money markets, high-yield savings accounts and other short-term instruments. A record $6.42 trillion is sitting in money market funds, as of Wednesday, according to the Investment Company Institute . While it has been a great place to park cash and earn attractive yields, those rates are coming down now that the Federal Reserve has started cutting rates. The seven-day annualized yield on the Crane 100 list…
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Universal Credit may not be as well known as most other personal loan lenders out there, but it still offers a strong product for those with lower credit scores. Read on to learn more about Universal Credit’s personal loan.Compare personal loan offersUniversal Credit Personal LoansAnnual Percentage Rate (APR)Loan purposeDebt consolidation, large purchases, business, home improvement and moreLoan amountsTermsCredit neededMinimum credit score of 560Origination feeEarly payoff penaltyLate feeProsNo early payoff feesOffers funding as early as the next business day Low credit score requirement of 560 ConsOrigination fee can be a bit high Universal Credit pros and consProsNo early payoff fees: Borrowers…
NEW YORK — The final basket of Breanna Stewart’s 34-point clinic on Sunday to open the WNBA semifinals was never going to be blocked. Las Vegas Aces forward A’ja Wilson tried — elevating as high as she could as the seconds ticked down on both the shot and game clock — but the New York Liberty star skied over Wilson’s outstretched arms.With just over a minute remaining in New York’s eventual 87-77 victory, Stewart elevated for a runner. A step in front of the free-throw line, she leaped, flicked the basketball with her right hand and watched it carom off…
US Federal Reserve chairman Jerome Powell holds a press conference in Washington, DC, on September 18, 2024.Mandel Ngan | AFP | Getty ImagesFederal Reserve Chair Jerome Powell said Monday that the recent half percentage point interest rate cut shouldn’t be interpreted as a sign that future moves will be as aggressive, in fact indicating the next moves will be smaller.The central bank chief asserted during a speech in Nashville, he and his colleagues will seek to balance bringing down inflation with supporting the labor market and let the data guide future moves.”Looking forward, if the economy evolves broadly as expected,…
[The stream is slated to start at 1:55 p.m. ET. Please refresh the page if you do not see a player above at that time.]Federal Reserve Chair Jerome Powell is set to speak Monday to the National Association for Business Economists during the organization’s annual conference in Nashville.The central bank chair is delivering his assessment on the economy as well as his policy views.Following the speech, Powell will speak in a moderated discussion with Ellen Zentner, global head of thematic and macro investing at Morgan Stanley Wealth Management.The speech comes less than two weeks after the rate-setting Federal Open Market…
Trivariate Research is laying out some U.S. companies that could win big in China’s latest stimulus deal. Last week, China’s central bank released a raft of support measures to help stimulate economic growth and boost a struggling real estate market in the second-largest economy in the world. The measures included cutting the amount of cash banks need on hand. “We see the China stimulus as an incremental positive to risk-taking,” wrote Trivariate founder Adam Parker in a note to clients. “We analyzed prior China stimuli and show the results here, but our judgment is to own the individual U.S. equites…
John Hess, chief executive officer of Hess Corp., speaks at the 2024 CERAWeek by S&P Global conference in Houston, Texas, US, on Tuesday, March 19, 2024. F. Carter Smith | Bloomberg | Getty ImagesThe Federal Trade Commission has banned Hess Corp. CEO John Hess from Chevron’s board as a condition for the oil companies’ $53 billion merger to move forward.The FTC on Monday alleged that Hess communicated with OPEC representatives about global oil output and inventory management over the years, encouraging them to take action that supports higher prices.The commission said in a complaint that Hess’ participation on Chevron’s board would…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailCarnival CEO Josh Weinstein joins CNBC’s ‘Money Movers’ to discuss the company’s third-quarter earnings beat, how it plans to continue to grow and maintain strong consumer demand, and more. Source link
MONTREAL — Deep into the dark of Saturday night, with scoreboard lights illuminating the 18th green, the two-time major winner stared at him with disbelief. Xander Schauffele has seen it up close more than anybody. He’s seen it in three continents over five cups. Still, his eyes bulged as the two embraced, tilting his head back in bewilderment, as if to ask: Who is this guy?If you asked his four-ball teammate Sam Burns, he’d say, “The guy is an absolute just assassin.”Captain Jim Furyk said he’s the player anyone would want to hit a big putt.And in that moment Saturday…
Check out the companies making headlines in midday trading: Nio — The U.S.-listed shares of the Chinese electric vehicle maker climbed 9.5% after Nio announced a 13.3 billion yuan cash injection for its Nio China business. The transactions are expected to be completed by year-end, and will reduce Nio Inc.’s stake in Nio China to 88.3% from its current 92.1%. Stellantis — The stock fell more than 13%, hitting a new 52-week low, following the automaker’s full-year profit warning . Stellantis pointed to a deteriorating “global industry backdrop” as well as increasing competition from China. Fellow automakers GM and Ford…
