Key Points The Federal Reserve’s key inflation measure rose more than expected in February while consumer spending also posted a smaller-than-projected increase, the Commerce Department reported Friday. The core personal consumption expenditures price index showed a 0.4%… Read More »Core inflation in February hits 2.8%, higher than expected; spending increases 0.4%

President Donald Trump suggested further tariffs would be imposed on the European Union and Canada if they worked together “to do economic harm” to the US. In a late night Truth Social post, Trump said large-scale… Read More »Trump Floats More EU, Canada Tariffs If They Work Against US

Worries over the economic effects of the global trade war are further sapping liquidity in US stocks, creating a headache for institutional investors that could also boost volatility in broader markets. Liquidity — the ease… Read More »US Stock Market Liquidity Drying Up as Trade War Concerns Mount

House Republicans want the Senate to adopt their budget blueprint and get the ball rolling on enacting President Donald Trump’s agenda. Senate Republicans have other ideas. GOP senators made clear Tuesday they intend to revamp… Read More »Senate Republicans eye big changes to House budget

Rapturous applause and a sea of phones in the air greeted President Trump as he walked on stage and declared, “The golden age of America has officially begun.” He was barely a month into office… Read More »Corporate America’s Euphoria Over Trump’s ‘Golden Age’ Is Giving Way to Distress

U.S. economic activity expanded at a faster pace in March as strength in services offset an unexpected downturn in manufacturing, but price pressures continue to mount, according to monthly business surveys set out Monday. The… Read More »U.S. Activity Rebounds But Inflation Heats Up on Tariff Concerns

At a time when tariffs and trade wars pose risks to corporate bottom lines, at least one bit of collateral damage doubles as a silver lining: a weakening US dollar. The Bloomberg Dollar Spot Index… Read More »Dollar Weakness Becomes Profit Boon for US Multinationals

President Donald Trump indicated Monday that he could announce new tariffs on imported cars as soon as this week, as his administration works toward a larger “reciprocal tariff” package hitting a broad swath of countries… Read More »Trump says car tariffs coming ‘in next few days’

A revolutionary new technology comes along and infatuates investors with its seemingly limitless possibilities. Euphoria sparks a stock market rally. Eventually things get overheated and share prices become ridiculous. Then it all collapses. Sound familiar?… Read More »Stumbling Stock Market Raises Specter of Dot-Com Era Reckoning

President Donald Trump said the Federal Reserve should cut interest rates, splitting with the US central bank as officials weigh the economic cost of his tariff push. “The Fed would be MUCH better off CUTTING… Read More »Trump Says Fed Should Cut Rates as Tariff Push Heats Up

White House aides are preparing to impose new tariffs on most imports on April 2, laying the groundwork for an escalation in global economic hostilities that President Donald Trump has called “Liberation Day.” Through his… Read More »Trump aides prep new tariffs on imports worth trillions for ‘Liberation Day’

The Federal Reserve extended its wait-and-see posture on interest rates while marking up its forecasts for inflation and revising down its outlook for growth and employment this year. The central bank held steady its benchmark… Read More »Fed Dims Economic Outlook, Citing Uncertainty Over Tariffs

President Trump’s trade war would put a brake on global economic growth and stoke inflation, according to new forecasts by the Organization for Economic Co-operation and Development. Why it matters: The OECD sees a stagflationary economic scenario for the U.S. and… Read More »Trump trade war casts dark cloud over North America economy, forecast says

(Reuters) – New economic projections from Federal Reserve officials this week will provide the most tangible evidence yet of how U.S. central bankers view the likely impact of Trump administration policies that have clouded a… Read More »Fed officials prepare to lay down marker on impact of Trump policies

WASHINGTON (AP) — The Federal Reserve kept its benchmark interest rate unchanged Wednesday and signaled that it still expects to cut rates twice this year even as it sees inflation staying stubbornly elevated. The Fed also now… Read More »The Federal Reserve sees tariffs raising inflation this year and keeps key rate unchanged

Jerome Powell faces a tricky task this week of both assuring investors the economy remains on solid footing while also conveying policymakers stand ready to step in if necessary. Even as the Federal Reserve chair… Read More »The Fed Is in Wait-and-See Mode. Investors Want Reassurance It Will Act If Needed

President Donald Trump said he would be imposing both broad reciprocal tariffs and additional sector-specific tariffs on April 2. Trump told reporters aboard Air Force One that “in certain cases, both” types of levies would… Read More »Trump Says Both Reciprocal and Sectoral Tariffs Coming April 2

The stock-market correction in recent weeks is more than a potential symptom of a slumping economy. It could cause a slump. After cheering President Trump’s re-election in November, the market has sunk as investors worry that the… Read More »Slumping Stocks Threaten a Pillar of the Economy: Spending by the Wealthy

The U.S. Senate Banking Committee has advanced the crypto industry’s stablecoin regulation bill, a first major step toward getting the effort to President Donald Trump’s desk to be signed into law. With its first committee… Read More »U.S. Senate Takes First Big Step to Advance Stablecoin Bill

Senate Democrats say privately that they will not allow the government to shut down Saturday, despite growing pressure from activists and liberal lawmakers who want them to kill a GOP-crafted six-month stopgap spending bill. Senate… Read More »Democrats look to save face in shutdown battle

As stocks stumbled in recent weeks, a cohort of Wall Street pros took solace as credit markets held firm and economic data proved benign. On Thursday, neither offered much relief. After President Donald Trump escalated his trade war across… Read More »Stock Turmoil Spreads as Fear Hits the World of Corporate Bonds

Senate Democrats say they are prepared to vote to reject the Republicans’ government funding bill, threatening a shutdown if lawmakers do not strike a deal within days. Not enough Democrats support the bill to clear… Read More »Senate pushes closer to shutdown after Democrats spurn funding bill

(Reuters) – The U.S. budget deficit for the first five months of fiscal 2025 hit a record $1.147 trillion, the Treasury Department said on Wednesday, including a $307 billion February deficit for President Donald Trump’s first full month in office that was… Read More »US October-February budget deficit hits record $1.147 trillion

The European Union will impose counter tariffs on 26 billion euros ($28 billion) worth of U.S. goods from next month, the European Commission said on Wednesday, ramping up a global trade war in response to blanket… Read More »EU to impose counter tariffs on $28 billion of US goods

(Reuters) – Goldman Sachs has trimmed its 2025-end target for the S&P 500 Index (.SPX) to 6,200 from 6,500, citing increased policy uncertainty, particularly on tariffs, and worries about the economic growth outlook. The target is 10.6%… Read More »Goldman Sachs lowers S&P 500 year-end target to 6,200

President Donald Trump on Tuesday backed down from a threat to impose an additional 25% in tariffs on Canadian steel and aluminum products — on top of a 25% tariff already set to go into… Read More »Trump reverses course on additional 25% tariff on Canadian steel and aluminum

Key Points Prices for goods and services moved up less than expected in February, providing some relief as consumers and businesses worry about the looming impact tariffs might have on inflation, the Bureau of Labor… Read More »Inflation rate eased to 2.8% in February, lower than expected

(Reuters) – President Donald Trump’s tariffs have spooked investors, with fears of an economic downturn driving a stock market sell-off that has wiped out $4 trillion from the S&P 500’s peak last month, when Wall… Read More »US stock market loses $4 trillion in value as Trump plows ahead on tariffs

Federal Reserve Chair Jerome Powell said the central bank is adopting a wait-and-see approach to assessing the impact of the Trump administration’s policy changes on trade, immigration, fiscal policy and regulation. Speaking at the University… Read More »Powell: Fed in wait-and-see mode on White House priorities

President Donald Trump said the US economy faces “a period of transition,” deflecting concerns about the risks of a slowdown as his early focus on tariffs and federal job cuts causes market turmoil. Asked on… Read More »Trump Says US Economy Faces ‘Transition,’ Avoids Recession Call

President Trump on Thursday said he will pause 25% tariffs on U.S. imports from Mexico and Canada that are covered under a 2020 trade agreement, delaying levies imposed on the nations earlier this week.  Mr. Trump announced… Read More »President Trump pauses Mexico and Canada tariffs until April 2

(Bloomberg) — President Donald Trump’s rapidly evolving trade war threatens to resurrect an all-too-familiar question for the Federal Reserve: If inflation moves higher, will it be transitory? Trump’s decision to slap tariffs on America’s largest… Read More »Trump’s Trade War Reignites Fed’s ‘Transitory’ Inflation Question

Treasury Secretary Scott Bessent on Thursday defended President Donald Trump’s aggressive trade policies and appeared to double down on Trump’s warning that the enactment of new tariffs may cause disruptions. “Access to cheap goods is… Read More »Bessent defends Trump tariffs: ‘Access to cheap goods’ is not the ‘American Dream’

Commerce Secretary Howard Lutnick signaled a possible agreement between the Trump administration and leaders of Canada and Mexico that could see some of the tariffs imposed on both nations rolled back.  Canada and Mexico, two… Read More »Lutnick says Trump tariff with Canada, Mexico likely ends with meeting in the middle, possible deal soon

Businesses have begun stockpiling materials, reviewing manufacturing footprints and preparing to raise prices as Donald Trump’s trade war has entered “uncharted territory” with sweeping tariffs on Canada, Mexico and China. Sectors including manufacturing, retail and… Read More »Companies brace for price pressures as Trump tariffs start to bite

President Trump, in his address to Congress Tuesday, celebrated the whirlwind of changes he has brought to the federal government. His success from this point on will depend largely on whether Americans believe the unease caused by… Read More »Trump’s ‘Swift and Unrelenting Action’ Tests Americans’ Appetite for Upheaval

(Reuters) – Global growth concerns have shot back onto the radar of financial markets as weakening U.S. economic data and growing trade tensions hurt consumer confidence and business activity. Although recession is not the base-case… Read More »Whisper it and it’s back: Recession risk creeps onto markets’ radar

Donald Trump has handed carmakers a one-month reprieve on tariffs on imports from Mexico and Canada, in the latest last-minute policy shift to roil corporate America. White House press secretary Karoline Leavitt said the president… Read More »Donald Trump hands carmakers 1-month reprieve from tariffs

CNN — The Trump administration’s massive federal cuts and swelling feelings of economic uncertainty helped fuel a recession-level spike in layoff plans last month, new data showed Thursday. US-based employers last month announced plans to slash 172,017 jobs, a 103% increase… Read More »US employers cut more jobs last month than any February since 2009

Crypto prices surged Sunday after President Trump said he would move forward on a U.S. crypto strategic reserve that will include bitcoin and ether, as well as three smaller and riskier tokens. “A U.S. Crypto… Read More »Crypto Prices Jump After Trump Announces Five Tokens for Strategic Reserve

President Donald Trump’s tariff threats once again lifted the dollar last week, but a growing group of investors is betting against the greenback amid signs the US economy is cooling and on concern a trade… Read More »Dollar Bears Seize on Notion of Crumbling US Exceptionalism

(Reuters) – The U.S. Treasury Department said on Sunday it would not enforce an anti-money laundering law that obliges millions of business entities to disclose the identities of their real beneficial owners. The Trump administration… Read More »US Treasury Department says it will not enforce anti-money laundering law

China hit back against fresh U.S. tariffs on Chinese imports with a slate of retaliatory measures and set a target for strong growth of its economy this year, as Beijing signals to Washington that it can weather… Read More »China Sets Strong Growth Target as It Hits Back at U.S. Tariffs

(Reuters) – U.S. President Donald Trump‘s new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with fresh duties on Chinese goods, sparking trade wars that could slam economic growth and raise… Read More »Trump triggers trade war, price hikes with tariffs on Canada, China and Mexico

First-time applications for unemployment benefits rose much more than expected last week, a likely indication of some “noisy” data, but also a potential worrisome hint that cracks may be forming in America’s long-solid labor market. There… Read More »Jobless claims spike, in worrisome sign for the US labor market

Key Points U.S. President Donald Trump signaled the U.K. could broker a “real trade deal” and escape tariffs amid ongoing negotiations sweetened by British Prime Minister Keir Starmer’s Thursday visit to the White House. When… Read More »Trump signals U.S. and U.K. could reach ‘real trade deal’ without tariffs

President Donald Trump plans to impose tariffs on Canada and Mexico starting Tuesday, in addition to doubling the 10% universal tariff charged on imports from China. In a Truth Social post Thursday, Trump said illicit drugs such as fentanyl… Read More »Trump plans tariffs on Mexico and Canada for Tuesday, while doubling existing 10% tariffs on China

Senate Majority Leader John Thune said that GOP leaders will have to turn their attention to a looming government shutdown deadline after spending weeks intensely focused on advancing President Donald Trump’s domestic policy agenda. “We’ve got to… Read More »Shutdown fight could delay GOP budget push, Thune says

(Reuters) – Expectations for the future path of the Federal Reserve’s balance sheet drawdown process have been scrambled in the wake of last week’s readout of January’s policy meeting, which showed central bankers concerned about how the… Read More »Fed’s quantitative tightening expectations upended by debt-ceiling worries

Key Points An ominous measure that the Federal Reserve considers a near surefire recession signal again has reared its head in the bond market. The 10-year Treasury yield passed below that of the 3-month note… Read More »The Federal Reserve’s favorite recession indicator is flashing a danger sign again

(Reuters) – U.S. Treasury Secretary Scott Bessent on Tuesday argued the U.S. economy is more fragile under the surface than economic metrics suggest and vowed to “re-privatize” growth by cutting government spending and regulation. In… Read More »US Treasury’s Bessent vows to re-privatize an economy that is ‘brittle underneath’

Republicans squeaked their budget blueprint through the House late Tuesday after party leaders swayed a handful of wavering members to back the framework for President Trump’s tax, border and spending-cut agenda. The 217-215 vote delivered… Read More »House Passes GOP Budget Plan as Holdouts Relent

(Reuters) – Investors and economists expect the U.S. central bank to respond “strongly and systematically” to changes in inflation and the labor market, according to research published on Monday by the San Francisco Fed that… Read More »Fed expected to respond strongly to inflation, job market conditions, research shows

President Donald Trump said tariffs scheduled to hit Canada and Mexico next month were “on time” and “moving along very rapidly” following an initial delay, even as a US official cautioned the schedule could be… Read More »Trump Says Planned Tariffs on Canada, Mexico ‘Going Forward’

Many Americans are pinching pennies, exhausted by high prices and stubborn inflation. The well-off are spending with abandon.  The top 10% of earners—households making about $250,000 a year or more—are splurging on everything from vacations to… Read More »The U.S. Economy Depends More Than Ever on Rich People

The US stock market can flip into a correction territory as retail and institutional buyers are running out of steam, according to Goldman Sachs Group Inc.’s Scott Rubner, the bank’s managing director for global markets… Read More »Goldman’s Rubner Sees Correction in US Stocks Amid Weaker Flows

Key Points The Treasury Department has set a new deadline of March 21 for millions of businesses to fulfill a new reporting requirement on “beneficial ownership information,” after a court order allowed the federal agency to start… Read More »Treasury sets March 21 deadline for millions of businesses to report ownership information or risk fines of $10,000 or more

(Reuters) – President Donald Trump’s initial policy proposals raised concern at the Federal Reserve about higher inflation, with firms telling the U.S. central bank they generally expected to raise prices to pass along the cost of import… Read More »Potential impact of Trump policies stirring inflation concerns at Fed, minutes show

Treasury traders are heading to the sidelines amid uncertainty over an expanding global trade war, sending one measure of volatility to its lowest level in three years and leaving yields rangebound. Neutral positioning in Treasuries… Read More »US Rate Volatility Craters as Tariff-Wary Bond Traders Pull Back

WASHINGTON—President Trump on Tuesday said he was considering tariffs of 25% or more on automobiles, semiconductors and pharmaceutical products. Here’s what we know: What Trump said The tariffs on those industries may increase over time,… Read More »Trump Floats 25% Tariffs on Autos, Chips, Pharmaceuticals

President Donald Trump on Tuesday signed a sweeping executive order bringing independent agencies under the control of the White House — an action that would greatly expand his power but is likely to attract significant… Read More »Trump signs order to claim power over independent agencies

Investors are fearful that some market gains are outpacing typical measures of underlying value after strong economic growth helped power the S&P 500 to record after record in a nearly two-year bull market. Trade wars and DeepSeek’s challenge… Read More »Investors Spot Signs of Market Froth During Long Bull Market

(Reuters) – Federal Reserve Bank of Philadelphia President Patrick Harker sounded an upbeat note on the state of the U.S. economy on Monday, and said he saw no reason to change interest rate policy right… Read More »Fed’s Harker supports steady interest rate policy stance for now

The House Budget Committee advanced a budget resolution after a marathon meeting Thursday, clearing the first hurdle in the GOP conference’s effort to pass President Trump’s legislative agenda. The panel approved the budget resolution in… Read More »House panel advances budget resolution after marathon meeting

Key Points A gauge of wholesale prices rose more than expected in January, though some details of the report indicated that pipeline inflation pressures are easing. The producer price index, which measures what producers get for… Read More »Producer prices report points to softer Fed inflation measure than feared

Concerns about inflation making a comeback gave investors a scare Wednesday, raising alarms about the bull run in stocks and whether the Federal Reserve already cut rates too much. The consumer-price index for January showed… Read More »Hot inflation report, rising Treasury yields warn the market’s bull run could be in trouble. Here’s how to read it.

The Securities and Exchange Commission (SEC) announced Tuesday that it will not defend a year-old rule requiring publicly held companies to disclose climate-related risks and in some cases the details of their emissions. “The Rule… Read More »SEC announces it will not defend climate disclosure rule

Key Points Inflation perked up more than anticipated in January, providing further incentive for the Federal Reserve to hold the line on interest rates. The consumer price index, a broad measure of costs in goods and… Read More »Consumer prices rise 0.5% in January, higher than expected as annual rate rises to 3%

Key Points President Donald Trump on Monday signed an executive order directing the Department of Justice to pause enforcing a nearly half-century-old law that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or… Read More »Trump signs order pausing enforcement of foreign bribery ban

WASHINGTON—President Trump on Monday announced 25% tariffs on imports of steel and aluminum to the U.S., reinstating global duties without exceptions for allies such as Canada, Mexico, Japan and South Korea that were relaxed by… Read More »Trump Imposes Global 25% Steel, Aluminum Tariffs

The Trump administration may create powerful tailwinds for two vastly different market groups: Big banks and small cap stocks. In the case of financials, Astoria Portfolio Advisors’ John Davi predicts deregulation — along with a… Read More »Trump 2.0 may create powerful tailwinds for two vastly different groups: big banks and small caps

(Reuters) – U.S. consumer sentiment dropped unexpectedly in February to a seven-month low and inflation expectations rocketed as households feared it may be too late to avoid the negative effects on their purchasing power from… Read More »US consumer sentiment drops as inflation expectations surge

Donald Trump said he would on Monday impose 25 per cent tariffs on all steel and aluminium imports, expanding his trade conflicts to the metals sector in a new burst of protectionism from Washington. The… Read More »Donald Trump to impose 25% tariffs on steel and aluminium imports

President Donald Trump outlined his tax priorities in a meeting with Republican lawmakers, including ending the carried interest tax break used by private equity fund managers and expanding the state and local tax deduction. White… Read More »Trump Will Seek to End Carried Interest, Expand SALT in Tax Bill

Key Points Job creation was lower than expected in January, though the unemployment rate edged down and worker wages rose sharply, the Bureau of Labor Statistics reported Friday. Nonfarm payrolls climbed by a seasonally adjusted 143,000… Read More »U.S. economy added just 143,000 jobs in January but unemployment rate fell to 4%

WASHINGTON—House Republicans, struggling with their narrow majority and lawmakers’ demands for spending cuts, are considering an extension of President Trump’s expiring tax cuts that would last for as little as five years. The discussions come as Senate… Read More »Republicans Eye Shorter Tax-Cut Extension to Keep Down Cost

(Reuters) – Global shares rose on Thursday in a modest relief rally as fears of an escalating trade war between the U.S. and its major trading partners ebbed, while U.S. Treasury yields came under pressure… Read More »Stocks rise, Treasury yields under pressure

Investors who see President Trump’s new trade war as more bark than bite have so far been proven right. This could be a problem. Midmorning on Monday, Mexican President Claudia Sheinbaum said that the U.S.… Read More »Are Markets Underestimating the Tariff Problem?

The irony of President Donald Trump threatening to upend global trade is that the ensuing uncertainty has actually been a boon to U.S. financial markets — at least in the near term. Investors, bracing for… Read More »Trump policy ‘chaos’ threatens dollar as reserve currency

Stocks rebounded on Tuesday, clawing back most of Monday’s losses despite the escalating new trade war between the U.S. and China. China hit back against American tariffs that went into effect Tuesday morning, deviating from Mexico… Read More »Stocks Recover Despite China Tariff Fears

Key Points President Donald Trump on Monday signed an executive order that outlines plans for a government-run sovereign wealth fund to serve as an economic development tool and perhaps be used to buy TikTok. Among the aims… Read More »Trump signs order establishing a sovereign wealth fund that he says could buy TikTok

President Donald Trump has agreed to hold off imposing 25% tariffs on Canada and Mexico for 30 days, pulling the North American neighbours back from the brink of a potentially damaging trade war. After last-minute… Read More »Trump agrees to pause tariffs on Canada and Mexico but not on China

Stocks recovered part of their heavy losses on Monday and currency markets fluctuated as investors struggled to keep up with Donald Trump’s plans for sweeping tariffs on some of the US’s key trading partners. The… Read More »Stocks recoup heavy losses after delay to US tariffs on Mexico and Canada

The US bond market is flashing a warning to President Donald Trump that unleashing tariffs on top trading partners risks fueling inflation and slowing the nation’s economic growth. His tariff decision — though subsequently delayed… Read More »Bonds Show Fear Tariffs Will Deliver Inflation, Growth Shocks

As the leaders of Canada and Mexico rushed to respond after Donald Trump started a new trade war, Chinese President Xi Jinping took a breath before his nation announced any concrete retaliation. Following through on a threat… Read More »Xi Weighs Retaliation After Trump Hits China With 10% Tariff

President Donald Trump is poised to unleash his first wave of tariffs Saturday, sending foreign governments and businesses rushing to skirt potential duties and prepare for retaliation. The targets are unlikely ones: Canada and Mexico,… Read More »Trump Barrels Toward Tariff Showdown With Top Trade Partners

What you need to know today Markets rise amid choppy tradingMajor U.S. benchmarks rose on Thursday in a volatile session that saw stocks slump in the final hour of trading before sharply recovering losses. Europe’s regional Stoxx 600 index… Read More »CNBC Daily Open: Markets shake off DeepSeek fears to focus on what’s near

The U.S. posted a record trade deficit in goods in 2024, spotlighting what is likely to be a constant eyesore under the second administration of President Trump, which is encouraging more domestic production. The U.S.… Read More »U.S. trade deficit in goods hits record high just before Trump took office. It won’t be easy to reduce them.

(AP) — The Federal Reserve left its benchmark interest rate unchanged Wednesday after cutting it three times in a row last year, a sign of a more cautious approach as the Fed seeks to gauge where… Read More »Fed hold rates steady, sees inflation as ‘elevated,’ as Powell declines comment on Trump

Confidence among U.S. consumers weakened for a second-straight month, reflecting retreating optimism of both current and future conditions at the start of President Trump’s second term and expectations that inflation will rise again. The index… Read More »U.S. Consumers Lose Confidence at Start of Trump’s Second Term

Donald Trump’s efforts to address the soaring cost of living look set to disappoint US voters, with economists warning that his new administration is prioritising “America first” over beating back inflation. Economists have revised up… Read More »The Trump economy: inflation versus isolationism

The opening days of Donald Trump’s second administration have sent businesses rushing to understand obscure provisions in historic laws, shore up their legal defences and find ways to shape the radically changing policy landscape. Trump’s… Read More »Donald Trump’s frenetic first week leaves corporate America struggling to keep up

The S&P 500 and Nasdaq Composite were down sharply Monday on concern about an artificial intelligence stock bubble popping because of the emergence of Chinese startup DeepSeek, which has possibly made a competitive AI model for a fraction of the… Read More »S&P 500 slides, Nasdaq drops 3% in sharp AI stock sell-off spurred by China’s DeepSeek: Live updates

President Donald Trump spent the first days of his return to the White House sharing the spoils of victory with his most loyal followers and offering up red meat culture war wins with the stroke of his… Read More »Trump Maps Pivot From Quick Wins to Harder, ‘Solvable’ Problems

Key Points JPMorgan Chase CEO Jamie Dimon on Wednesday called the U.S. stock market inflated and said he felt more cautious than others in the business world because of the risks from deficit spending, inflation and geopolitical upheaval.… Read More »Jamie Dimon says the U.S. stock market is ‘kind of inflated’

A bundle of measures gauging the health of the U.S. economy fell back a little at the end of last year, reversing the boost that emerged following Donald Trump’s victory in elections to the White… Read More »U.S. Leading Indicators Lose Momentum as 2024 Ends

Republicans on the U.S. House Ways and Means Committee introduced legislation that would cancel the countries involvement in the Organization for Economic Co-operation and Development (OECD) global tax proposal. The Defending American Jobs and Investment… Read More »House bill would end U.S. involvement in OECD global tax, create reciprocal tax plan

Fourth quarter earnings season is off to a strong start. Unfortunately, that may not matter much for the stock market. Many equity strategists anticipate a solid earnings season for companies in the S&P 500 (^GSPC) to… Read More »Expect a Trump-driven ‘policy fog’ to overshadow a strong corporate earnings season

With much-anticipated trade actions against China absent on the first day of US President Donald Trump’s second term, a chief Citi economist said there are better odds of “delayed, gradual tariffs” being imposed on the… Read More »‘Gradual’ US tariffs on China may foreground Trump-Xi summit: Citi

Economists are starting to model the effects of President-elect Donald Trump’s plans to raise tariffs, cut taxes and restrict immigration. The upshot: Inflation and interest rates are likely to be higher for at least the next two years than… Read More »Trump’s Return Nudges Economists’ Inflation Outlook Higher

US stocks ticked higher but currencies swung a day after Donald Trump’s inauguration, as investors weighed further tariff threats from the new president against an absence of day-one actions. The S&P 500 closed up 0.9… Read More »US stocks climb as investors parse Donald Trump’s executive orders

Donald Trump has threatened to double tax rates for foreign nationals and companies in the US to hit back at “discriminatory” levies on American multinationals, in a move that threatens to trigger a global confrontation… Read More »Donald Trump threatens to double tax rates for foreign nationals and companies

President-elect Donald Trump is planning to release an executive order elevating crypto as a policy priority and giving industry insiders a voice within his administration, according to people familiar with the plans. The order is… Read More »Trump Plans to Designate Cryptocurrency as a National Priority

Scott Bessent defended tariffs and argued for tax-cut extensions during his confirmation hearing as President-elect Donald Trump’s pick for Treasury secretary in the Senate Finance Committee.  No Democrats committed to support him on Thursday, and… Read More »Treasury Secretary Pick Scott Bessent Says Trump Could Bring ‘New Economic Golden Age’

US stocks roared to their best day since Donald Trump’s election win after data showed underlying price pressures in the world’s largest economy eased and Wall Street banks posted strong quarterly results. The S&P 500… Read More »Wall Street stocks post biggest rally since Donald Trump’s election victory

For many, the beginning of a new year inspires a change in mood. Resolutions made. Slates wiped clean. Hopes raised. And then there are chief financial officers, a group that, on the whole, tends to… Read More »The year in preview: Chief financial officer confidence soars heading into 2025

(Reuters) – The U.S. government posted an $87 billion budget deficit in December, reduced partly by a shift of benefit payments into November but capping a record $711 billion deficit for the first three months… Read More »U.S. posts record $711 bln deficit for first three months of fiscal 2025

Key Points Prices that consumers pay for a variety of goods and services rose again in December but closed out 2024 with some mildly better news on inflation, particularly on housing. The consumer price index increased a… Read More »Core inflation rate slows to 3.2% in December, less than expected

CFOs are uniquely qualified among cross-functional partners to see the bigger picture, understand the challenges and opportunities facing their organization and map the best path to success. A good thing, too, knowing CEOs and boards… Read More »A CFO action plan for 2025

Key Points A measure of wholesale prices increased less than expected in December, providing indication that pipeline inflation pressures eased to close the year though likely not enough to provoke another Federal Reserve interest rate… Read More »Inflation watch: Wholesale prices rose 0.2% in December, less than expected

The Los Angeles wildfires are on track to be among the costliest in US history, with losses already expected to exceed $135bn (£109.7bn). In a preliminary estimate, private forecaster Accuweather said it expected losses of… Read More »LA wildfire damages set to cost record $135bn

Key Points Job growth was much stronger than expected in December, likely providing the Federal Reserve less incentive to cut interest rates this year. Nonfarm payrolls surged by 256,000 for the month, up from 212,000… Read More »U.S. payrolls grew by 256,000 in December, much more than expected; unemployment rate falls to 4.1%

Federal Reserve officials debated the staying power of inflation at the central bank’s December meeting, with a range of views on where interest rates could settle in 2025. Policymakers emphasized that policy is not on a… Read More »Fed Isn’t Certain Where Interest Rates Will Head, Minutes Show. Inflation and Trump Are Concerns.

President-elect Donald Trump’s advisers are considering how they will reshape the leadership of the Federal Reserve including elevating Fed Governor Michelle Bowman to be the central bank’s next vice chair for supervision, according to people… Read More »Trump Advisers Look to Reshape Fed Leadership as Roles Open

US job openings rose to a six-month high in November, boosted by a jump in business services while other industries showed more mixed demand for workers. Available positions increased to 8.1 million from an upwardly revised… Read More »US Job Openings Rise to Six-Month High on Business Services

US stocks sold off on Tuesday, while government bond yields jumped, after strong jobs and services data prompted investors to bet the Federal Reserve will lower interest rates just once this year. Wall Street’s S&P… Read More »US stocks slide as strong data sends Treasury yields higher

US corporate bankruptcies have hit their highest level since the aftermath of the global financial crisis as elevated interest rates and weakened consumer demand punish struggling groups. At least 686 US companies filed for bankruptcy in 2024,… Read More »US corporate bankruptcies hit 14-year high as interest rates take toll 

Washington is geared up for a big debate over trillions of dollars in tax cuts. It’s going to be long, slow and messy. As the utter chaos that erupted as lawmakers struggled to write a… Read More »Trump’s tax cuts are about to unleash chaos on the Hill. Here’s how.

Newly reelected House Speaker Mike Johnson on Sunday highlighted his and President-elect Donald Trump’s plans to pass one “big, beautiful” budget reconciliation package through Congress and said he aims to have it on Trump’s desk by the… Read More »Johnson wants budget reconciliation bill on Trump’s desk by end of April

(Reuters) – Two Federal Reserve policymakers on Saturday said they feel the U.S. central bank’s job of taming inflation is not yet done, but also signaled they do not want to risk damaging the labor… Read More »Fed’s Kugler, Daly say job not done on inflation

As the final days of December approach, it’s time for Wall Street’s favorite seasonal game: making predictions about whether the U.S. economy will fall into a recession in the coming year. Coming off a year… Read More »Will We Have a Recession in 2025? 6 Experts Weigh in

America is getting better at getting things done. Take Vic Viktorov, a gym owner who increased revenue at his Boston business in 2024 by 30% without adding a single salesperson to the two already on… Read More »The American Worker Is Becoming More Productive

U.S. stocks roared to another blockbuster showing in 2024. Few expect such a torrid advance in the year to come. The S&P 500 has climbed 24%, notching 57 record closes as the economy remained healthy,… Read More »Stocks Cap Best Two Years in a Quarter-Century

Donald Trump’s vision to reshape the world’s largest economy through protectionist policies that put “America First” will damage growth, according to Financial Times economists’ polls that contrast with investors’ bullishness over the US president-elect’s plans.… Read More »Donald Trump’s ‘Maganomics’ will damage growth, economists tell FT polls

The US dollar rose Tuesday, capping its strongest yearly advance in nearly a decade as the solid US economy and President-elect Donald Trump’s tax-cut and tariff policies promise to keep interest rates elevated. The gain… Read More »Dollar Gains as Fed Rate-Cut Rethink Fuels Best Year in Nine

Corporate risk managers in recent years have increasingly complained about the apocalyptically named “nuclear verdict,” a term referring to jury verdicts topping $10 million. The cases are growing in number, and the verdicts are getting bigger,… Read More »‘Nuclear Verdicts’ Driving Up Costs of Doing Business, Says Risk Management Society’s Head

Defaults on US credit card loans have hit the highest level since the wake of the 2008 financial crisis, in a sign that lower-income consumers’ financial health is waning after years of high inflation. Credit… Read More »US credit card defaults jump to highest level since 2010

As large corporations accumulate more Bitcoin, there is a risk of centralization, market manipulation, and increased government regulation that could undermine the original principles of decentralization and freedom in the future. In recent years, we have seen huge attention from large… Read More »Will corporate ownership of Bitcoin lead to its centralization and loss of freedom?

The deadline for most reporting companies to file beneficial ownership information (BOI) reports was extended to Jan. 13, 2025, by the Financial Crimes Enforcement Network (FinCEN), hours after a Monday court ruling reinstated the reporting… Read More »Injunction lifted; FinCEN extends most BOI deadlines to Jan. 13

It was a holiday season of the haves and the have nots.  Inflation-weary consumers were projected to splurge this year on holiday gifts, food and decorations—fueled by online purchases, according to industry estimates. But the… Read More »Holiday Sales Reveal a Split in Consumer Spending

These are trying times to be a leader. As a leader, once you acknowledge that fact, you can feel like you’re standing in a strange town before one of those tall and cluttered signposts with dozens… Read More »Stop being so positive! It’s your company’s negatives that could save (or kill) it

Businesses need to evaluate the potential impact of tariffs many expect to be levied by the incoming presidential administration, including examining changes to supply chains and cost structures, PricewaterhouseCoopers partners said during a roundtable about… Read More »Tariffs could jump by $800B annually: PwC

Although the U.S. economy enjoys low unemployment and declining quit rates, the psychological state of workers tells a more complicated story. Historically low employee engagement and wellbeing levels indicate employees are struggling. Many report feeling disconnected from their… Read More »7 Workplace Challenges for 2025

(Reuters) – No sooner had the global economy started to put the aftermath of the COVID-19 pandemic behind it than a whole new set of challenges opened up for 2025. In 2024, the world’s central… Read More »Brace! Risks stack up for the global economy in 2025

Back in 2022, when the labor market was so hot that Beyoncé even released a song about it, Americans were job hopping in large numbers, boosting their salary in the process. The Great Resignation was in full… Read More »Inflation was the cause, not the result, of the ‘hot’ labor market, research shows

The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business to 70 cents per mile driven, up 3 cents from 2024. The increased rate is… Read More »Business standard mileage rate increases for 2025

The U.S. economy grew more than initially appreciated in the third quarter, extending a solid stretch of economic expansion. GDP increased at an annualized rate of 3.1% in the three months through September, the Commerce… Read More »Final 3Q GDP Estimate Revises Growth Up to 3.1%

Key Points Prices barely moved in November but still held higher than the Federal Reserve’s target when looked at from a year ago, according to a Commerce Department measure released Friday. The personal consumption expenditures price… Read More »Key Fed inflation measure shows 2.4% rate in November, lower than expected

Donald Trump is still weeks away from taking the oath of office, but the president-elect’s vow to enact a sweeping policy overhaul is already looming large over the Federal Reserve. The Fed trimmed interest rates… Read More »Donald Trump’s pledges seep into Federal Reserve’s outlook

(Reuters) – The U.S. central bank cut interest rates on Wednesday, as expected, but Federal Reserve Chair Jerome Powell said more reductions in borrowing costs now hinge on further progress in lowering stubbornly high inflation,… Read More »Fed lowers rates but sees fewer cuts next year due to stubbornly high inflation

Dow drops for the ninth dayOn Tuesday, the Dow Jones Industrial Average lost 0.61%, marking a nine-day losing streak. The S&P 500 slipped 0.39% and Nasdaq Composite retreated 0.32%. Europe’s regional Stoxx 600 index dropped 0.42%, weighed down by a 1.4% decline in banking stocks.… Read More »CNBC Daily Open: Despite Dow’s nine-day losing streak, we aren’t in dire straits

Key Points Inflation is stubbornly above target, the economy is growing at about a 3% pace and the labor market is holding strong. Put it all together and it sounds like a perfect recipe for… Read More »The Fed has a big interest rate decision coming Wednesday. Here’s what to expect

(Reuters) – Bitcoin’s record rally topped $107,000 on Monday after President-elect Donald Trump reiterated that he plans to create a U.S. bitcoin strategic reserve similar to its strategic oil reserve, stoking the enthusiasm of crypto bulls. Investor sentiment also got a… Read More »Bitcoin rallies past $107,000, hopes grow for strategic reserve

The Federal Reserve is likely to signal a slower future pace of easing when it meets later this week and then skip cutting interest rates in January, according to Goldman Sachs Group Inc. economists. While… Read More »Goldman Sachs Economists See Fed Skipping a Rate Cut in January

Tax cutters are beating deficit hawks in the early phases of the Republican Party’s fiscal tug of war.  Republican leaders call extending trillions of dollars in expiring tax cuts a must-pass item next year that can’t fail.… Read More »Tax Cuts Take Lead Over Deficit Worries in GOP’s Internal Fight

It would take an act of Congress to dissolve the Public Company Accounting Oversight Board, a watchdog for the audit industry created by the 2002 Sarbanes-Oxley Act. However, the incoming presidential administration doesn’t “have to… Read More »PCAOB could be defanged by incoming Trump administration

The Trump transition team has started to explore pathways to dramatically shrink, consolidate or even eliminate the top bank watchdogs in Washington.  In recent interviews with potential nominees to lead bank regulatory agencies, Trump advisers… Read More »Trump Advisers Seek to Shrink or Eliminate Bank Regulators

Beneath a stock market that goes from one record to the next lies a concerning trend for some Wall Street strategists: Fewer stocks are buttressing the advance. The S&P 500 Index is now headed for its ninth… Read More »S&P 500’s Record Rally Shows Cracks as Most Stocks Left Out

Fresh inflation figures are likely to make the Federal Reserve more cautious about the pace of interest-rate cuts — but not quite yet. Investors still widely expect the US central bank to cut borrowing costs… Read More »Inflation Gives Fed Green Light for Rate Cut in December

The dollar has been stronger in real terms than now in only four months since the 1985 Plaza Accord, when the world’s leading trading nations got together to devalue the greenback. The U.S. is about to… Read More »The Fate of Markets Rests on Trump’s Dollar Policy

Key Points Consumer prices rose at a faster annual pace in November, a reminder that inflation remains an issue both for households and policymakers. The consumer price index showed a 12-month inflation rate of 2.7% after increasing… Read More »Annual inflation rate accelerates to 2.7% in November, as expected

(Reuters) – U.S. consumers were bracing last month for higher levels of inflation in coming years even as they marked up expectations that their personal financial situations would improve markedly, the New York Federal Reserve… Read More »US consumers expect higher inflation and better economy, New York Fed says

Washington lawyers and accountants are gearing up for a fee bonanza as companies prepare for tariffs, export controls and the possibility of trade wars under Donald Trump. In his first term, Trump catapulted international trade policy from… Read More »US companies lawyer up in preparation for Donald Trump’s trade wars

(Reuters) – A relentless rally in U.S. stocks is showing few signs of slowing into year-end, even as rising valuations and signs of excessive speculation fuel worries that a pullback may be overdue. The S&P… Read More »Strong momentum makes it hard to bet against ‘freight train’ US stock rally

President-elect Donald Trump said he “can’t guarantee anything” when asked whether his proposed tariffs would increase prices for American families, in an interview with NBC’s “Meet the Press” that aired Sunday. “I can’t guarantee anything.… Read More »Trump ‘can’t guarantee’ Americans won’t pay more if tariffs enacted

Key Points Job creation in November rebounded from a near-standstill the prior month as the effects of a significant labor strike and violent storms in the Southeast receded, the Bureau of Labor Statistics reported Friday. Nonfarm payrolls… Read More »Payrolls increased 227,000 in November, more than expected; unemployment rate at 4.2%

Inflation and the labor market are both cooling, but a subtle force has powered strong U.S. economic growth nonetheless. Americans keep finding ways to get more done at work. As a result, many businesses have… Read More »U.S. Economy Is Doing What Few Others Are: Getting More Productive

CFO confidence in the economy is growing as the U.S. prepares for a second Trump administration. As businesses anticipate new tax plans, potential reductions in the size of the federal government and regulatory changes, finance chiefs… Read More »Post-election, CFOs express confidence in the economy: Duke-Fed

(Reuters) – U.S. services sector activity slowed in November after posting big gains in recent months, but remained above levels consistent with solid economic growth in the fourth quarter. The Institute for Supply Management survey… Read More »US services sector comes off the boil in November, prices stay high

(Reuters) – U.S. job openings increased solidly in October while layoffs dropped by the most in 1-1/2 years, suggesting the labor market continued to slow in an orderly fashion. But the Job Openings and Labor… Read More »US labor market steadily cooling amid higher job openings, low layoffs

Critics of the US audit regulator see an opportunity to defang and perhaps close down the agency after Donald Trump returns to the White House and installs officials committed to his deregulatory agenda. US accounting firms are… Read More »Critics see chance to close down US audit regulator under Trump

The Federal Reserve’s preferred inflation measure accelerated in October, helping explain US central bankers’ more cautious approach to interest-rate cuts. Top-line inflation in the euro area also picked up, though price growth excluding food and… Read More »Charting the Global Economy: Sticky Inflation Backs Fed Caution

US jobs numbers are expected to rebound when the latest figures are published on Friday, offering investors the latest clue on the path of interest rates ahead of the inauguration of president-elect Donald Trump. Economists… Read More »Will the US jobs market rebound?

Wall Street isn’t thrilled about the return of Donald Trump’s tariff threats. But traders are hardly panicking either. Shares of automakers were hit hard this week after the president-elect promised to levy hefty tariffs on imports from… Read More »Wall Street’s Response to More Tariffs: Been There, Done That

The banking industry has largely applauded President Trump’s nomination of Scott Bessent — a hedge fund veteran and former George Soros associate — to lead the Treasury Department, but whether he is able to wield influence in… Read More »Banks cautiously optimistic about Bessent pick for Treasury

Last week’s major economic updates offered new details but no consequential surprises, leaving big questions hanging over the economy’s trajectory heading into the final month of the year. The Fed’s preferred 12-month measure of core… Read More »Data Keep Markets in Suspense About Fed Cuts

Private equity-backed initial public offerings on US exchanges are poised for a comeback. Last year, companies backed by buyout firms saw just $8.7 billion in US IPO exits, significantly below the pre-pandemic average of $45.1… Read More »Private Equity-Backed US IPOs Set to Surge in Market Revival

The latest reading of the Federal Reserve’s preferred inflation gauge showed price increases were flat in October from the prior month, raising questions over whether progress in getting to the central bank’s 2% goal has stalled.… Read More »Key Fed inflation gauge shows PCE ‘going sideways’

The IRS again delayed the effective date of the $600 threshold for Form 1099-K reporting for third-party settlement organizations (TPSOs) and will treat 2024 and 2025 as transition years, the Service said Tuesday in Notice 2024-85.… Read More »IRS again delays effective date of $600 threshold for Form 1099-K reporting

People spend years, even decades, doing everything they can to save enough for retirement. The last thing you need is a costly mistake that could derail everything you’ve worked so hard to build. Your retirement… Read More »What Not to Do When Planning Your Retirement

A more active market for first-time share sales will lead to a pickup in technology firms going public, according to a senior Goldman Sachs Group Inc. banker. The number of tech initial public offerings will “likely more… Read More »Goldman Sachs Tech ECM Head Sees IPOs More Than Doubling in ’25

President-elect Donald J. Trump said on Monday that he would impose tariffs on all products coming into the United States from Canada, Mexico and China on his first day in office, a move that would… Read More »Trump Plans Tariffs on Mexico, Canada and China That Could Cripple Trade

It’s been getting a little harder to get approved for a loan this year, according to a new survey out this week from the New York Federal Reserve. It found that rejection rates for loan applications… Read More »Data shows more loans are being rejected — but why?

Saving for retirement is an important financial goal ​​— but as millions of Americans hustle to set aside enough money, you may wonder how you’re doing compared to everyone else. According to a 2024 Northwestern… Read More »The US government just revealed how much the average American couple has saved for retirement — how do you compare heading into 2025?

Investors have a challenge in betting on the usual stock market rally that tends to arrive after a presidential election: With the S&P 500 Index on track for one of its best ever starts to a year,… Read More »History Is Useless for Wall Street Pros Betting on Stocks Rally

US Securities and Exchange Commission Chair Gary Gensler, whose ambitious agenda drew fierce resistance from Wall Street and the crypto industry, plans to step down on Jan. 20. “The Securities and Exchange Commission is a… Read More »Gary Gensler Plans to Step Down From SEC in January

The book has all but closed on the Biden administration’s bank regulatory endeavors as top agencies officials agreed to hold off on putting forth or advancing any additional reforms this year. During testimony in front… Read More »Regulators to pause major proposals until Trump takes office

Some key market metrics are starting to suggest the Trump-inspired rally in the dollar may have plateaued, as bullishness fueled by the US election wanes. Bloomberg’s gauge of the currency fell for a third day… Read More »Dollar Rally Hits ‘Choppy Waters’ as Two-Way Trading Returns

Key Points The number of older Americans who report losing more than $100,000 to fraud in a given year has more than tripled since 2020, according to the Federal Trade Commission, a trend that experts… Read More »Number of older adults who lost $100,000 or more to fraud has tripled since 2020, FTC says

The Inflation Reduction Act of 2022, P.L. 117-169, is widely considered the most important U.S. legislation to date to combat climate change. The act includes two dozen tax provisions designed to accelerate the deployment of… Read More »New and enhanced energy tax credits for individuals

(AP) — Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s… Read More »Powell says Fed will likely cut rates cautiously given persistent inflation pressures

The numbers: Initial jobless claims fell by 4,000 to 217,000 in the week ending Nov. 9, the Labor Department said Thursday. It is the lowest level of claims since May.   Economists polled by The Wall Street… Read More »Jobless claims fall to lowest level since May

(Reuters) – As Wall Street financiers gathered in downtown Manhattan on Wednesday, their optimism about President-elect Donald Trump’s deregulatory agenda was tempered by uncertainty over his personnel and policies. Bankers were still bullish on deals. They… Read More »Wall Street bankers temper optimism a week after Trump victory

The IRS could have about 1 million employee retention credit (ERC) claims remaining to process by the end of the year, the national taxpayer advocate said Tuesday at the AICPA & CIMA National Tax Conference.… Read More »Taxpayer advocate: Unprocessed ERC claims could total 1 million at year end

Key Points The U.S. Federal Reserve could carry out fewer interest rate cuts than previously expected next year should President-elect Donald Trump’s proposed global tariffs take hold, former Fed policymaker Loretta Mester said Tuesday. Mester indicated… Read More »‘The market is right’: Former Fed policymaker Mester sees fewer rate cuts next year after Trump’s victory

Donald Trump’s election victory has catapulted US stocks to fresh records and pushed the dollar to a two-year high. It’s anything but good news for the rest of the world. Equities excluding the US are… Read More »Rest of World’s Markets Broken By Trump’s America-First Plan

Key Points Inflation perked up in October though pretty much in line with Wall Street expectations, the Bureau of Labor Statistics reported Wednesday. The consumer price index, which measures costs across a spectrum of goods and… Read More »Annual inflation rate hit 2.6% in October, meeting expectations

The stock market could rally stronger into the end of the year following Republican Donald Trump’s presidential election victory than it did when he won the US presidency eight years ago, according to JPMorgan Chase &… Read More »JPMorgan Traders See Stronger S&P Year-End Rally Than in 2016

Crypto is on a hot streak since President-elect Donald Trump’s victory. Bitcoin broke past $80,000 for the first time over the weekend, and recently traded around $82,000, according to the CoinDesk Bitcoin Price Index. Dogecoin,… Read More »Bitcoin, Dogecoin and Solana Surge in Post-Election Crypto Price Jump

President-elect Donald Trump is poised to push swiftly for new tax cuts if Republicans win full control of Congress, further slashing corporate rates and extending trillions of dollars of other cuts even as the national debt soars.… Read More »For Trump and Republicans in Congress, ‘everything is in play’ on tax cuts

Stocks hit fresh all-time highs, climbing alongside bonds and commodities, in a concerted cross-asset advance that by one measure was the best for a Federal Reserve day in 2024. Equities extended their post-election rally, with… Read More »Wall Street Has Best Fed Day of 2024 Across Assets: Markets Wrap

Key Points WASHINGTON — The Federal Reserve approved its second consecutive interest rate cut Thursday, moving at a less aggressive pace than before but continuing its efforts to right-size monetary policy. In a follow-up to… Read More »Federal Reserve cuts interest rates by a quarter point

Stocks hit all-time highs, US yields jumped and the dollar saw its best day since 2022, with investors mapping out Donald Trump’s return to presidency and the potential for Republicans to win both houses of Congress. The S&P 500 climbed 2.5% on bets… Read More »S&P 500 Sees Best Post-Election Day in Its History: Markets Wrap

(Reuters) – With Donald Trump heading back to the White House, Wall Street is anticipating the potential for lower taxes, deregulation and a U.S. president who is quick to sound off on everything from the stock market… Read More »Wall Street girds for Trump 2.0: Tariffs, tax cuts and volatility

Taxpayers must consider many areas of accounting for fixed assets when determining the most advantageous methods to use for income tax purposes. Some of these methods were less significant in recent years due to the… Read More »Bonus depreciation phaseout planning

Questions run rampant when you are in or near retirement. Will I run out of money? How can I avoid overpaying taxes? Will my family be taken care of if I am no longer here?… Read More »Focus on These Five Critical Areas in Retirement Planning

The IRS announced the 2025 benefit and contribution limits for qualified retirement plans, including contribution limits for Sec. 401(k) plans and individual retirement arrangements (IRAs) Friday, increasing the limit on 401(k)s by $500. Notice 2024-80 includes… Read More »Inflation adjustments to retirement account limits issued for 2024

A sharply weaker jobs reading has thrown up some uncertainty about the direction of the U.S. economy. But the preponderance of evidence from official data, company earnings and even consumers points to a strong, if… Read More »Awful Jobs Report Aside, the Economy Is Still Strong

The U.S. Treasury Department is harnessing AI to combat taxpayer fraud, successfully recovering $4 billion in fraudulent and improper payments. This success is primarily due to advanced machine learning (ML) techniques that analyze data to… Read More »U.S. Treasury’s AI is Catching Tax Cheats and Saving Billions

EMPLOYMENT COST INDEX – SEPTEMBER 2024 Compensation costs for civilian workers increased 0.8 percent, seasonally adjusted, for the 3-month period ending in September 2024, the U.S. Bureau of Labor Statistics reported today. Wages and salaries… Read More »Employment Cost Index Summary

US stocks gave up all of their gains for October as a sell-off in tech heavyweights on Thursday produced Wall Street’s worst daily drop in almost two months. In the final trading session of the… Read More »Tech stock sell-off wipes out Wall Street’s October gains

Job creation in October slowed to its weakest pace since late 2020 as the impacts of storms in the Southeast and a significant labor impasse dented the employment picture. Nonfarm payrolls increased by 12,000 for… Read More »U.S. economy added just 12,000 jobs in October, impacted by hurricanes, Boeing strike

Across the United States, companies that rely on foreign suppliers are preparing to raise prices in response to the massive import tariffs that former president Donald Trump promises if he wins the election Tuesday. Producers of a range of… Read More »Companies ready price hikes to offset Trump’s global tariff plans

The numbers: Initial jobless claims fell by 12,000 to 216,000 in the week ended October 26, the Labor Department said Thursday. This is the third straight decline in weekly claims. Claims are now at their lowest… Read More »Jobless claims retreat for third straight week, hit lowest level since May

The Federal Reserve’s preferred measure of underlying US inflation posted its biggest monthly gain since April, bolstering the case for a slower pace of interest-rate cuts following last month’s outsize reduction. The so-called core personal… Read More »Key US Inflation Gauge and Spending Pick Up in Solid Economy

In the race for the White House, the largest companies in the US are facing two starkly different financial futures, separated by one vast sum: a quarter trillion dollars a year. The potential price tag… Read More »What’s at stake in US election? $250bn in taxes for corporate America

U.S. job openings tumbled last month to their lowest level since January 2021, a sign that the labor market is losing some momentum. Still, posted vacancies remain well above pre-pandemic levels. The Labor Department reported… Read More »US job openings fell in September to a 3 1/2-year low

US consumer confidence increased in October by the most since March 2021 on optimism about the broader economy and the labor market. The Conference Board’s gauge of confidence jumped 9.5 points to 108.7, the highest… Read More »US Consumer Confidence Rises Most Since 2021 on Labor Market

The U.S. economy posted another solid though slightly disappointing period of growth in the third quarter, propelled higher by strong consumer spending that has defied expectations for a slowdown. Gross domestic product, a measure of… Read More »U.S. economy grew at a 2.8% pace in the third quarter, less than expected

The Tax Cuts and Jobs Act (TCJA), P.L. 115-97, limited itemizers’ state and local tax (SALT) deductions to $10,000 for tax years 2018 through 2025 (the SALT cap). However, federal policymakers have continued to battle… Read More »Tax planning for the SALT cap

A punishing 2½-year fight to bring inflation down appears to be succeeding. The election could change that. Inflation has fallen thanks to higher interest rates and big assists from healed supply chains and an influx… Read More »Economists Warn of New Inflation Hazards After Election

Corporate executives may have personal political leanings and beliefs, but when it comes to the Nov. 5 U.S. presidential election, they see political and regulatory risks no matter which candidate is elected. Among 709 executives… Read More »Both Harris and Trump would pose risks for business: report

The Nasdaq Composite climbed to an all-time high on Friday, boosted by megacap tech stocks. The tech-heavy index rose 0.56% to 18,518.61, while the S&P 500 inched 0.03% lower to end at 5,808.12. The Dow Jones Industrial Average shed 259.96 points,… Read More »Nasdaq rises to hit new all-time high Friday as rest of market languishes: Live updates

To understand more about the challenges professionals face as they transition to retirement, Kiplinger spoke with Teresa Amabile, a professor emerita at the Harvard Business School and coauthor of Retiring: Creating a Life That Works for You. … Read More »How to Step Confidently Into Your Life After Retirement

Talking about money can be uncomfortable and awkward. But if you want to be considerate of others while staying within your budget, you should establish guidelines on matters such as dining out with friends, attending… Read More »A Modern Guide to Money Etiquette: Gifts, Tips, Splitting Bills and More

The IRS on Tuesday provided its annual inflation adjustments for over 60 tax provisions in tax year 2025, including increases in the standard deduction for married couples and single individuals. These adjustments generally apply to… Read More »Annual inflation adjustments announced for tax year 2025

Federal Reserve Bank of San Francisco President Mary Daly said she expected the US central bank would continue cutting interest rates to guard against further weakening in the labor market. “So far, I haven’t seen any… Read More »Fed’s Daly Says She Doesn’t See Reasons to Stop Cutting Rates

US stocks are unlikely to sustain their above-average performance of the past decade as investors turn to other assets including bonds for better returns, Goldman Sachs Group Inc. strategists said. The S&P 500 Index is expected to… Read More »Decade of Big S&P 500 Gains Is Over, Goldman Strategists Say

Businesses and households in major economies are struggling to bounce back from the era of high inflation as precarious growth prospects and political uncertainty weigh on their confidence. Although economic activity remains relatively firm, confidence… Read More »Fragile confidence hinders global economic recovery

Wharton’s Stephanie Creary speaks to Teresa Amabile, emerita professor of business administration at Harvard Business School, and Kathy Kram, emerita professor of management and organizations at Boston University’s Questrom School of Business, about how to… Read More »How to Prepare for Retirement and Live Your Best Life

Consumer spending held up in September, underscoring a resilient economy that is now getting a boost from the Federal Reserve, the Commerce Department reported Thursday. Retail sales increased a seasonally adjusted 0.4% on the month, up… Read More »Retail sales rose 0.4% in September, better than expected; jobless claims dip

Treasury Secretary Janet Yellen will call out plans to vastly increase the scale of U.S. tariffs in a Thursday speech to the Council on Foreign Relations, taking a thinly veiled shot at former President Trump’s plans to hike import… Read More »Yellen sounds alarm on ‘deeply misguided’ tariffs as Trump digs in

US government bonds slumped after strong September retail-sales figures fanned doubts over how quickly the Federal Reserve will continue to lower interest rates. The selloff pushed Treasury yields higher by as much as seven to 10 basis points. Initially,… Read More »Treasury Yields Climb as Strong Data Sow Doubt on Fed Rate Cuts

Is inflation really easing? Well, for healthcare, not so much. This marks the second year in a row that employer-sponsored health insurance premiums have risen 7 percent, to reach an average of $25,572 annually, according to KFF’s… Read More »Employer Health Insurance Premiums Hit $25,000 in 2024

New data from KPMG shows the Americas are hot for companies looking to strengthen their supply chains—for reasons from cost reduction, to improved resiliency against ongoing geopolitical tensions. KPMG uses the term “strategic shoring” to describe… Read More »KPMG: Sourcing, Supply Chain Operations to Continue to Migrate to Americas in Coming Years

(Reuters) – Global investor optimism posted its biggest jump since June 2020 in October due to Federal Reserve rate cuts, stimulus pledges from China and expectations of a soft landing for the U.S. economy, a… Read More »Investor optimism sees biggest jump since June 2020, survey shows

Mention financial planning and everyone thinks of preparing for retirement. We start thinking about how much to save, where are the best places to save, whether we are properly insured, and whether we have a… Read More »Financial planning for the rest of life

These days, people are increasingly interested in thinking about wealth in a holistic way, in a multidimensional way — after all, wealth is more than money. Your assets also include your health, knowledge, time and… Read More »Wealth Is More Than Just Your Money: How to Manage It All

There’s an unusual divergence in Corporate America’s profit outlook this season: while analysts have cut forecasts, company guidance points to another strong quarter. Data compiled by Bloomberg Intelligence show analysts expect S&P 500 firms to… Read More »CEOs and Analysts Are at Odds About S&P 500’s Earnings Outlook

As the oldest members of Generation X close in on age 60, retirement decisions are moving front and center. Many Gen Xers have spent decades carefully saving and investing in their retirement, but even those… Read More »Why Gen X Marks the Spot for Rethinking Retirement

Individual taxable earnings of up to $176,100 annually will be subject to Social Security tax in 2025, the Social Security Administration (SSA) said Thursday. The amount, an increase from $168,600 in 2024, is the wage base limit that… Read More »Social Security wage base announced for 2025

Federal Reserve officials at their September meeting agreed to cut interest rates but were unsure how aggressive to get, ultimately deciding on a half percentage point move in an effort to balance confidence on inflation… Read More »Fed officials were divided on whether to cut rates by half a point in September, minutes show

Thanks for joining us. Here are five key takeaways from the US consumer price index report for September, released Thursday:

A top Federal Reserve official said the central bank was now “well positioned” to pull off a soft landing for the US economy, as he signalled support for a slower pace of cuts after September’s… Read More »Top Fed official says US economy ‘well positioned’ for soft landing

Consumers don’t care for negative surprises. That’s why so many companies affix carefully worded warning labels on everyday goods, ranging from hot coffee cups to hand mixers. And for safety reasons, it’s also why Van… Read More »The Sahm Rule: What It Is and What Investors Need to Know

The U.S. budget deficit topped $1.8 trillion in the latest fiscal year, driven by higher spending on interest and programs for older Americans, as the government faces a persistent gap between federal outlays and tax collections. The… Read More »Federal Deficit Hit $1.8 Trillion for 2024, CBO Says

Hurricane Milton could wreak short-term havoc on U.S. economic data, even as it inflicts more lasting pain on Florida’s Big Bend region. The storm—classified as a Category 5 as of Tuesday afternoon—is forecast to hit Tampa and… Read More »Hurricane Milton Might Distort Economic Data. GDP Could Take a Hit.

This semiannual update surveys recent federal tax developments involving individuals. It summarizes notable cases, rulings, and guidance on a variety of topics issued during the six months ending April 2024. The update was written by… Read More »Current developments in taxation of individuals

Effective strategic planning creates a vision for the future, develops actionable near- and long-term goals to achieve objectives, and provides clarity for employees on their role in the future success of the company. Business leaders… Read More »7 ways management accountants can contribute to business strategy

(Reuters) – The dollar jumped to a seven-week high on Friday and was on track to post its best week since September 2022 after a surprisingly strong jobs report for September led traders to cut… Read More »Strong jobs report propels dollar to best week since 2022

Traders are staring down a series of risks after the stock market’s torrid start to the year, from economic fear, to interest rate uncertainty, to election angst. But perhaps the most important variable for whether… Read More »S&P’s $8 Trillion Rally Will Be Tested by Tricky Earnings Season

Around 45,000 dockworkers from Maine to Texas remain on strike weeks after the Federal Reserve cut interest rates by half a point. So, what will these recent pieces of economic news mean for the economy… Read More »Chicago Fed president Austan Goolsbee on port strike, interest rates, housing

(Reuters) – Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains were limited as… Read More »Oil settles up, biggest weekly gains in over a year on Middle East war risk

Key Points The U.S. economy added far more jobs than expected in September, pointing to a vital employment picture as the unemployment rate edged lower, the Labor Department reported Friday. Nonfarm payrolls surged by 254,000… Read More »U.S. job creation roared higher in September as payrolls surged by 254,000

The numbers:  The service side of the economy grew in September at the fastest pace in a year and a half, a new survey found, suggesting the U.S. is in no danger of recession. An index… Read More »U.S. economy speeds up as ISM survey hits 1 1/2-year high. Businesses aren’t gung-ho, though.

Federal 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… Read More »Powell indicates further, smaller rate cuts, insists the Fed is ‘not on any preset course’

What swoon? The bears usually come out in full force in September, historically the worst month for stocks. And while the market got off to a rough start in the Labor Day–shortened first week, it’s been all rainbows and sunshine since… Read More »The Market Is Killing It. Here’s What Could Kill the Rally.

(Reuters) – A mistake by the U.S. central bank in setting interest rates during the last phase of its inflation battle is the main risk that could undercut the economy over the next year, according… Read More »Fed’s Powell poised to speak as economists fret about a policy mistake

Inflation moved closer to the Federal Reserve’s target in August, easing the way for future interest rate cuts, the Commerce Department reported Friday. The personal consumption expenditures price index, a gauge the Fed focuses on to… Read More »Key Fed inflation gauge at 2.2% in August, lower than expected

Whether interest-rate cuts from the Federal Reserve help engineer a soft landing depends only partly on how much weakness is under the hood of the U.S. economy. Success also depends on lower borrowing costs spurring… Read More »Lower Interest Rates Don’t Guarantee a Soft Landing

Building and preserving wealth for retirement requires both a smart investment plan and a thoughtful tax strategy. Many overlook or undervalue retirement tax planning techniques until it’s too late. These techniques can enhance your investment… Read More »Five Tax Strategies to Preserve Your Retirement Savings

Election polling continues to forecast a tight race between Vice President Kamala Harris and former President Donald Trump, but within corporate America, top executives are preparing for Harris to become the next president of the United States, according… Read More »Kamala Harris likely to win election, despite Trump being better on inflation, economy: CNBC CFO survey

The US economy grew at a 3% annualized pace in the second quarter, a faster rate than Wall Street had expected. The Bureau of Economic Analysis’s third estimate of second quarter US gross domestic product (GDP) was… Read More »GDP: US economy grows at 3% annualized pace in second quarter

The number of Americans applying for unemployment benefits last week fell to the lowest level in four months. The Labor Department reported Thursday that applications for jobless claims fell by 4,000 to 218,000 for the… Read More »The number of Americans filing for jobless aid falls to lowest level in 4 months

While most CFOs agree the upcoming presidential election will impact their businesses, the level of that impact will vary depending on factors like industry, size, revenue and plans. However, uncertainty around the election and the events… Read More »30% of CFOs are scaling back investments amid election uncertainty: Duke-Fed Q3 survey

(Reuters) – Global growth is in the process of stabilizing as the drag from central bank rate hikes fades and falling inflation boosts households’ incomes, the OECD said on Wednesday, marginally raising its outlook for this… Read More »OECD sees global growth stabilising at 3.2% this year

(Bloomberg) — The debate over the magnitude of the Federal Reserve’s expected interest-rate cut in November is intensifying, with traders ramping up wagers in futures keyed to the central bank’s path as officials start to… Read More »Traders Boost Fed Bets With November Cut Size Seen as a Toss-Up

The S&P 500 fell on Wednesday — after wavering for most of the session — as investors pondered the Federal Reserve’s path of rate cuts and digested housing-market data. The Nasdaq 100 closed modestly higher. The 10-year US Treasury… Read More »S&P 500 Snaps Two-Day Climb With Fed in Focus: Markets Wrap

A handful of Federal Reserve officials on Monday left open the door to additional large interest-rate cuts, noting that current rates still weigh heavily on the US economy. “Over the next 12 months, we have… Read More »Fed Officials Leave Door Open to Another Large Interest-Rate Cut

With less than two months to go until the US presidential election and with polls suggesting that the two leading candidates are neck and neck, it is unsurprising that some investors are getting jittery. Newly published research from… Read More »Markets care if there is a tight race for president, study shows

Share buybacks — one of the defining features of the US stock market over the past decade — hit a wall last year as higher borrowing costs and concerns about a potential recession prompted executives… Read More »Fed rate cuts should boost corporate America’s buyback binge

Providing financial — and increasingly nonfinancial — information for decisionmaking is one of the most important reasons for the finance function’s existence. Consequently, falling short in management reporting creates risks for the organisation: Failing to… Read More »Common management reporting mistakes to avoid

Minneapolis Federal Reserve President Neel Kashkari said Monday that he expects policymakers to dial down the pace of interest rate cuts after last week’s half percentage point reduction. “I think after 50 basis points, we’re… Read More »Minneapolis Fed President Kashkari sees a slower pace of rate cuts ahead

While the stock market rallied after the long-awaited Federal Reserve rate cut last week, there’s a sense of unease accompanying the gains. Referring to the Fed’s shift to a bigger rate cut than had been… Read More »Stocks’ Post-Fed Rally Risks Adding ‘Accelerant Fuel’ to Selloff

Commercial bankers play a crucial role in providing capital for businesses to operate and expand. However, studies reveal that gender bias often leads to women entrepreneurs being denied loans more frequently than men. There’s a… Read More »Societies Where Women Are Empowered Have Larger Entrepreneur Funding Gaps

Last week’s announcement that venture capital firm Fearless Fund would close a grant contest for Black women business owners as part of a settlement in a lawsuit alleging discrimination once again brought the topic of funding to Black founders… Read More »Venture Funding To Black-Founded Startups Remains Stagnant

What’s going to happen with the federal estate tax is anyone’s guess. The federal lifetime estate and gift tax exemption for people who die in 2024 is $13,610,000, and the highest estate tax rate is 40%. However,… Read More »Changes to Estate Tax Are Coming… Six Options Congress Could Take

The Federal Reserve on Wednesday enacted its first interest rate cut since the early days of the Covid pandemic, slicing half a percentage point off benchmark rates in an effort to head off a slowdown… Read More »Fed slashes interest rates by a half point, an aggressive start to its first easing campaign in four years

US equities will climb through the rest of the year with the Federal Reserve’s aggressive interest-rate cut bolstering the chances of a soft landing for the economy, according to a survey of Bloomberg Terminal subscribers. The rally… Read More »Stocks Will Continue to Rally After Sharp Fed Rate Cut, Investors Say

The Federal Reserve cut interest rates on Wednesday by half a percentage point, an unusually large move and a clear signal that central bankers think they are winning their war against inflation and are turning… Read More »The Fed Makes a Large Rate Cut and Forecasts More to Come

Fed Chair Jerome Powell entered a new phase in his campaign to softly land the U.S. economy, lowering interest rates Wednesday with an audacious half-point cut. The move raised new questions the central bank can’t easily answer.… Read More »Big Rate Cut Forces Fed to Contend With New Obstacles

The Federal Reserve will begin a crucial pivot this week, lowering interest rates for the first time in more than four years as it pursues a rare soft landing for the US economy. With inflation… Read More »Fed Ready to Unshackle US Economy With Soft Landing at Stake

Dive Brief: Dive Insght: Companies also say that their interest in both interest rate hedging and FX hedging has increased by 60%, according to the study. U.S. Bank said it received most of the responses… Read More »Election triggers new tax scenario planning: U.S. Bank survey

(Reuters) – U.S. consumer sentiment rose to a four-month high in September amid expectations that inflation will continue moderating over the next year and household incomes improve, but views on the labor market weakened against… Read More »US consumer sentiment climbs to four-month high; import prices drop

(Bloomberg) — Not since the lead-up to the financial crisis have bond traders been so divided about the outcome of the next Federal Reserve decision. With only two days to go, whether Fed policymakers will… Read More »Traders’ Uncertainty About Fed Decision Is Highest Since 2007

The stock market has recovered most of the losses suffered in its summer selloff. While the S&P 500 Index has bounced back before, this time is unique because it isn’t being led by Big Tech… Read More »S&P 500 Is Surviving Big Tech’s Slide as ‘Other 493’ Catch Up

(Reuters) – U.S. household wealth rose last quarter to $163.8 trillion, a fresh record, driven by gains in real estate values as well as a rise in the stock market, data from the Federal Reserve… Read More »US household wealth rises in Q2 to record $163.8 trln

At the height of the Great Resignation a few years ago, salary increase budgets told the story: Employers were willing to pay a premium to get workers in the door. Today, that urgency has lessened slightly, as… Read More »What will salary increase budgets look like for 2025?

Since the bull market began its run after the pandemic, its resistance to contrary forces has been astonishing. This congenitally strong bull, the first since World War II to develop amid a Federal Reserve rate-hiking… Read More »How to Talk to Clients Who Fear the End of the Bull Market

A look at the day ahead in European and global markets from Kevin Buckland European traders who went to bed thinking a quarter-point Fed rate cut was a lock for next week may well have had a… Read More »Morning Bid: Super-sized Fed cut climbs back on the table

Underlying US inflation unexpectedly picked up in August on higher prices for housing and travel, undercutting the chances of an outsize Federal Reserve interest-rate cut next week. The so-called core consumer price index — which… Read More »Core US Inflation Picks Up, Damping Odds of Outsize Fed Cut

Wall Street and the Federal Reserve need to get on the same page. Here’s the CliffsNotes version: Analysts are betting on a big year for corporate earnings in 2025, which suggests a strong economy ahead.… Read More »Earnings Estimates Are Forgetting the Fed. What It Means for Stocks.

Inflation presents a challenge for most American households, but it can be particularly pernicious for retirees who live on a fixed income. For that reason, retirees who have signed up for Social Security benefits closely monitor the… Read More »Why You Should Expect a Lower Social Security COLA for 2025

The share of workers in the U.S. labor force who are “prime working age” (ages 25-64) has significantly fallen since the mid-1990s, and older workers now make up a greater share of the workforce, according to an Aug.… Read More »Younger workers are needed to shore up shrinking labor force, EBRI says

(Reuters) – (This Sept. 10 story has been corrected to show the number of respondents who said “likely” and “very likely”, in paragraph 8) The Federal Reserve will lower interest rates by 25 basis points… Read More »Fed to cut rates by 25 basis points on Sept. 18, twice more in 2024: Reuters poll

(Bloomberg) — Global bond yields slid to a two-year low this week due to concern over slowing growth in major economies and increasing expectations for interest-rate cuts.          The average yield on… Read More »Global Bond Yields Fall to Two-Year Low as Slowdown Fears Grow

Keeping track of your 401(k) balance isn’t just about eyeballing the lump sum you’ve socked away in your retirement savings account. What you’ve saved is a key measuring stick to help you figure out whether you’re on… Read More »It’s National 401(k) Day: Have You Checked Your 401(k) Balance?

(AP) — The IRS has collected $1.3 billion from high-wealth tax dodgers since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden’s signature climate, health care and tax package signed… Read More »Treasury recovers $1.3 billion in unpaid taxes from high-wealth tax dodgers

In a notable policy shift, Democratic presidential nominee, Vice President Kamala Harris, has proposed a 28% capital gains tax rate for some high earners, departing from President Joe Biden’s more aggressive stance on taxing investment income.  The… Read More »Kamala Harris Calls for 28% Capital Gains Tax, Diverging from Biden’s Higher Rate

Former President Donald Trump is promising to repeal taxes on Social Security benefits, a campaign pledge some experts say could potentially cause more harm to the program than good.  The proposal is meant to entice… Read More »What’s Wrong With Trump’s Pledge to End Taxes on Social Security Benefits

Ken Witt, CPA, CGMA, AICPA & CIMA associate director – Management Accounting Research and Development, discusses in this JofA podcast episode the reasons that finance executives in a quarterly AICPA & CIMA survey continue to lower their optimism about the… Read More »What replaced inflation as the top challenge for finance leaders

(Reuters) – U.S. economic activity expanded more slowly from the middle of July through late August and businesses pulled back on hiring, signals that underscore why the Federal Reserve is set to begin to lower… Read More »US firms see weaker employment growth as economy slows, Fed survey shows

Former President Trump delivered a major economic address in New York on Thursday, announcing his plan to cut the corporate tax rate to 15% and create a “government efficiency commission” led by Elon Musk, while vowing to… Read More »Trump vows to cut business tax rate to 15%, create government efficiency commission led by Elon Musk

Thanks for joining us. Here are five key takeaways from the US employment report for August, released Friday:

(Bloomberg) — A key segment of the US Treasury yield curve briefly turned positive as weaker-than-anticipated labor-market data bolstered bets on steep interest-rate cuts by the Federal Reserve. Treasuries jumped on Wednesday — led by… Read More »US Yield Curve Disinverts as Soft Labor Data Fuels Fed Cut Bets

(Reuters) – Democratic presidential candidate Kamala Harris’ proposed corporate tax hike could reduce S&P 500 (.SPX) company earnings by about 5%, with additional taxes potentially hitting profits harder, Goldman Sachs analysts said. Last month, Vice President Harris… Read More »Harris’ tax plan may cut corporate profits by 5%, says Goldman Sachs

(Reuters) – The dollar fell more than 2% against other major currencies in August, marking its biggest monthly drop this year and providing some relief to economies that have suffered under the weight of dollar… Read More »A dollar on the defensive brings relief to policymakers globally

(Reuters) – MSCI’s gauge of global equities fell sharply on Tuesday, with Wall Street stocks taking their biggest hit since early August while U.S. Treasury yields fell after manufacturing data spurred worries about the economy.… Read More »Equities sell off sharply, Treasury yields drop with economic data in focus

Anticipating changes coming to Social Security in 2025 can help you start planning for the new year and identify any adjustments you can make to maximize your eligibility for the most benefits.  People who think… Read More »Three Changes Coming for Social Security in 2025

The equity market rally may stall near record highs even if the Federal Reserve starts a highly anticipated rate-cutting cycle, according to JPMorgan Chase & Co. strategists. The team led by Mislav Matejka — who has been… Read More »JPMorgan’s Matejka Says Stocks Risk Stalling Even With Rate Cut

The US labor market is expected to grow by 0.4% a year through 2033, less than one-third of the pace in the preceding decade, according to new Bureau of Labor Statistics projections. The annual rate translates… Read More »US Workforce Is Seen Expanding Just 0.4% a Year in Coming Decade

(Bloomberg) — The proximity of the Federal Reserve’s shift to interest-rate cuts is battering the US dollar this month, sending the world’s reserve currency slumping and igniting rallies in major peers around the globe. The… Read More »Dollar Eyes 2024’s Biggest Monthly Loss as Fed Signals Cut

The Federal Reserve’s preferred measure of underlying US inflation rose at a mild pace and household spending picked up in July, reinforcing policymakers’ plan to start cutting interest rates next month. The so-called core personal… Read More »Fed Favored Inflation Gauge’s Mild Gain Sets Stage for Rate Cut

It’s not uncommon to have regrets, and as you get older, they can pile up. For older respondents, starting to save for retirement on the late side is the biggest concern, according to a 2024 Bankrate… Read More »Over 75% of Americans Have Financial Regrets. Where Do You Fit In?

(Bloomberg) — A rally in the S&P 500 lost traction as Nvidia Corp. extended its selloff to more than 6%. The good news: most stocks in the US advanced. Buoyed by data showing the economy… Read More »S&P 500 Rally Loses Steam, But Most US Stocks Gain: Markets Wrap

(AP) — The U.S. economy grew last quarter at a healthy 3% annual pace, fueled by strong consumer spending and business investment, the government said Thursday in an upgrade of its initial assessment. The Commerce… Read More »US economic growth for last quarter is revised up to a solid 3% annual rate

Americans are growing wary of the job market amid continued signs labor demand is cooling, according to new data released from the Conference Board on Tuesday. Overall, the latest consumer confidence index reading from the Conference Board showed an… Read More »Americans grew ‘more pessimistic’ about the job market in August while overall confidence rose

A large percentage of Americans over 50, forlornly eyeing the balances in their portfolios, are getting worried they don’t have enough money to get them through retirement comfortably — or even get them through it at all,… Read More »Three Ways to Create a Stronger Income Plan for Retirement

(Reuters) – The U.S. dollar gained on Wednesday due to month-end buying and technical factors after recent declines that pushed it to its weakest in more than a year, as traders awaited data that could… Read More »US dollar advances on month-end demand; focus on economic data

September is a popular time for companies to go public. This month’s stock-market volatility is putting some plans on ice. Companies weighing whether to make their stock-market debuts face a critical decision in the coming weeks: pull… Read More »The IPO Market Gets Cold Feet

You wouldn’t guess it by the level of uncertainty and volatility across markets, the economy and the political environment. Still, a growing number of America’s CFOs are optimistic about the coming year when it comes… Read More »CFOs Raise 2025 Outlook But Also Fear A Recession

Strong flows from corporate buybacks and systematic funds should drive the S&P 500 Index to a new all-time high this week, further increasing investors’ FOMO, according to Scott Rubner, managing director for global markets and… Read More »Goldman’s Rubner Sees S&P 500 New High This Week, Spurring FOMO

In 2022, Congress enacted the Inflation Reduction Act, P.L. 117-169, which added $80 billion to the IRS’s budget over the next decade. While some funds have been rescinded and others reallocated from enforcement to operations,… Read More »IRS funding and a potential rise in malpractice claims

Executives are grappling with whether the November election will stymie their investment and growth plans. A central variable: How high, or low, the corporate tax rate might go. This summer’s dizzying political developments make it hard to… Read More »How a Corporate Tax Rate Change Could Impact Companies’ Growth, Investment

(Bloomberg) — Now that Federal Reserve Chair Jerome Powell has made it crystal clear that interest-rate cuts are coming next month, bond traders are focusing in on bets over the size of that first reduction… Read More »Powell’s Pivot Leaves Traders Debating Size, Path of Rate Cuts

Exaggerated concerns about the viability of Social Security continue to circulate like a persistent urban legend that refuses to die. They have only intensified during the political silly season leading up to the November elections.… Read More »“Social Security Is Going Broke!” Just Like the Zombie Apocalypse Is Coming

(Reuters) – U.S. company executives are talking much more about the upcoming presidential election than they did four years ago as a wider policy rift between candidates Kamala Harris and Donald Trump raises questions around… Read More »Rise in election talk from US execs highlights policy uncertainty

(Reuters) – U.S. business activity fell to a 4-month low in August and firms continued to struggle to pass on higher prices to consumers, bolstering the likelihood that inflation will stay on a downward trend… Read More »US business activity edges lower; pricing power ebbs further

The nest egg that Americans believe they need to retire comfortably continues to rise — skyrocketing to $1.46 million, according to Northwestern Mutual’s 2024 Planning & Progress Study. That number is up from $1.27 million just… Read More »Four Steps to Help You Hit Your Magic Number for Retirement

A federal judge in Texas on Tuesday struck down a landmark regulation issued by the Federal Trade Commission that sought to ban employers from using noncompete agreements to prevent most workers from joining rival firms. U.S. District… Read More »Judge Tosses FTC Ban on Noncompete Agreements

WASHINGTON (AP) — Most Federal Reserve officials agreed last month that they would likely cut their benchmark interest rate at their next meeting in September as long as inflation continued to cool. The minutes of the Fed’s… Read More »Fed minutes: Most officials favored a rate cut in September if inflation continued to cool

The job market from early 2023 through early this year wasn’t as hot as it seemed at the time, new government data suggested Wednesday. Compared with the still-official numbers, employers might have added 818,000 fewer jobs in… Read More »U.S. Job Market Was Weaker Than Previously Reported, Data Show

Thinking of unretiring? You’re not the only one. Punching a time clock is still part of the regular routine for many older adults. In fact, Americans over 75 are the fastest-growing age group in the… Read More »Thinking About Unretiring? You’re Not Alone

(Bloomberg) — Momentum traders and a surge in corporate buybacks promise to drive a US stocks rally over the next four weeks, according to Goldman Sachs Group Inc.’s trading desk. “The pain trade for equities… Read More »Goldman’s Rubner Says the ‘Pain Trade’ for US Stocks Is Higher

(Reuters) – U.S. Vice President Kamala Harris is proposing to increase the corporate tax rate to 28% from 21% if she wins a November election against Republican rival Donald Trump, her campaign said on Monday. Harris campaign… Read More »Kamala Harris proposes raising corporate tax rate to 28%

 (Reuters) – San Francisco Federal Reserve Bank President Mary Daly said it is time to consider adjusting borrowing costs from their current range of 5.25% to 5.5%, in an interview with the Financial Times published… Read More »Fed’s Daly says it is time to consider adjusting borrowing costs, FT reports

More than half of the US’s biggest companies see artificial intelligence as a potential risk to their businesses, according to a new survey of corporate filings that highlights how the emerging technology could bring about… Read More »Biggest US companies warn of growing AI risk

(Bloomberg) — Wall Street is betting that Federal Reserve Chair Jerome Powell will confirm that interest-rate cuts are coming at the central bank’s annual confab in Jackson Hole, Wyoming. But as the debate shifts from… Read More »Traders Need Fed’s Rate-Cut Signal to Keep Stocks Rallying

It’s been quite a turnaround. All three major U.S. stock indexes edged higher Friday to notch their biggest weekly gains of the year, with traders regaining their confidence after last week’s market freakout. Investors got a… Read More »Stock Market News, Aug. 16, 2024: S&P 500 Clinches Its Best Week of the Year

(Reuters) – Big investors are bracing for this summer’s stock market rout to run into the autumn, fearing a broader wave of selling will follow the turmoil sparked by U.S. recession concerns and the Bank… Read More »Summer market shock not quite over as investors brace for more turmoil

(Bloomberg) — Stocks climbed and bonds tumbled as data on retail spending and the labor market underscored the strength of the world’s largest economy, allaying fears the Federal Reserve would be risking a deeper slowdown.… Read More »Stocks Rally as Data Show US Economy Is Holding Up: Markets Wrap

Key Points Consumers grew more confident in July that inflation will be less of a problem in the coming years, according to a New York Federal Reserve report Monday that showed the three-year outlook at… Read More »Three-year inflation outlook hits record low in New York Fed consumer survey

A 58-year-old client came to financial planner Michael Kitces’ office seeking a plan that would allow him to retire at age 65 with $1 million. The client headed home “retired” that very day. “He had… Read More »Retirement: How to respond to the changing definition of the word

Federal Reserve Bank of Atlanta President Raphael Bostic said he’s looking for “a little more data” before supporting a reduction in interest rates, emphasizing he wants to be sure the US central bank will not… Read More »Fed’s Bostic Says More Data Needed, Rate Cut Likely by Year-End

Financial markets are flashing a higher probability of an oncoming recession in the wake of the market maelstrom that briefly sparked fear across Wall Street last week. It still remains an outside chance. But models… Read More »Goldman, JPMorgan Say Markets Pricing in Higher Recession Odds

(Reuters) – Panic appears to have faded following last week’s outbreak of volatility in U.S. stocks, but if history is any guide, markets might remain jittery for months. Wall Street’s most closely watched gauge of… Read More »Fear fades in US stocks, but history shows quick return to calm unlikely

Key Points Inflation rose as expected in July, driven by higher housing-related costs, according to a Labor Department report Wednesday that is likely to keep an interest rate cut on the table in September. The consumer price… Read More »Annual inflation rate slows to 2.9% in July, lowest since 2021

As another quarterly earnings season from Corporate America enters its final stretch, this much is clear: The long-awaited recovery in the companies that were left out of the artificial-intelligence frenzy has finally begun. Signs of… Read More »Earnings Growth in US Finally Showing Up Outside Tech Megacaps

A look at the day ahead in European and global markets from Wayne Cole It’s been a blessedly quiet start to the week in Asia with Japan taking a much-needed holiday for Mountain Day, after the Nikkei… Read More »Morning Bid: Markets shift to holiday mood

JPMorgan Chase & Co. Chief Executive Jamie Dimon said the market plunge and partial recovery in the past week amounted to an ”overreaction” by investors. He added that ”America is alive and well.” The longtime… Read More »Jamie Dimon: Investors ‘overreacted,’ and recession odds remain about the same

US consumers are reining in spending on travel and leisure, hitting businesses including Disney theme parks, Airbnb home rentals and Hilton hotels as questions grow about the health of the economy.  Warnings from several companies’… Read More »US consumer spending slowdown weighs on travel and leisure groups

Wall Street eked out gains on Friday that all but erased the losses investors suffered in a week of volatile trading that included some of the worst and best days for US stocks in almost… Read More »US stocks end rollercoaster week back where they started

A key step when helping clients transition to retirement is preparing a tax-efficient income plan, including any necessary investment adjustments, as they begin retirement account withdrawals. (See “Building a Tax-Efficient Retirement Income Plan for Clients,” JofA,… Read More »Helping pre-retirees choose a retirement spending limit

The Financial Crimes Enforcement Network (FinCEN) has amped up its outreach efforts to update businesses on the requirements for beneficial ownership information (BOI), which requires reports from over 32 million businesses this year. As of… Read More »BOI requirements roll along despite concerns about too little outreach

Goldman Sachs Group Inc. Chief Executive Officer David Solomon predicted the Federal Reserve will avoid taking emergency steps to lower borrowing costs as he sees the US economy skirting a recession. “I don’t expect that… Read More »Goldman CEO Solomon Says Fed Will Forgo Emergency Cut Despite Weak Jobs Data

A rally for stocks still left investors battered by markets’ wild swings and bracing for more turbulence. Traders were regaining their footing Tuesday after fresh fears about the economy and fallout from the unraveling of… Read More »Stocks Claw Back Losses After Global Selloff

Key Points Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, fueling fears of a broader economic slowdown, the Labor Department reported Friday. Nonfarm payrolls grew… Read More »Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3%

Monday’s market rout increases both the risks of recession and a more harrowing financial-market accident. But for Federal Reserve officials who laid the groundwork last week to cut rates by a quarter-percentage point at their meeting next month, the… Read More »Market Selloff Upends Fed Rate-Cut Calculus

The U.S. added far fewer jobs than expected last month, raising worries about a broader economic slowdown. Employers added just 114,000 jobs in July, according to a report Friday from the Labor Department. That marked a sharp… Read More »Why a weaker jobs market is sparking recession fears

Midway through the year, leaders of some of the biggest companies are seeing signs of troubles in the world’s two biggest economies.  From McDonald’s to Mercedes-Benz, executives are saying that many consumers in China and the U.S.… Read More »Burgers, Botox and Birkins: Consumer Pullback Hits China and U.S.

Bond traders are piling into bets that the US economy is on the verge of deteriorating so quickly that the Federal Reserve will need to start easing monetary policy aggressively to head off a recession.… Read More »Treasuries Surge as Traders Bet on Emergency Fed Rate Cut

Wall Street finished sharply lower on Monday, closing out a global market rout that saw Japan’s main stock index suffer its worst day in 37 years. Wall Street’s benchmark S&P 500 dropped 3 per cent,… Read More »US stocks finish sharply lower to close out global market rout

WASHINGTON (AP) — A bill to expand the child tax credit and restore some tax breaks for businesses failed to advance in the Senate on Thursday as Republicans largely opposed the measure, arguing they would… Read More »Senate rejects legislation that would expand child tax credit and restore business tax breaks

US government bonds, on the heels of their best month this year, rallied on economic data seen as cementing the case for three Federal Reserve interest-rate cuts this year. The 10-year Treasury yield fell below… Read More »Bond Traders Are Fully Pricing In Three Fed Rate Cuts This Year

(Reuters) – U.S. stocks kicked off August sharply lower after a round of economic data on Thursday spurred concerns the economy may be slowing faster than anticipated while the Federal Reserve maintains a restrictive monetary… Read More »Stocks slump in August kick-off as data reignites slowdown worries

(Reuters) – The U.S. unemployment rate jumped to near a three-year high of 4.3% in July amid a significant slowdown in hiring, heightening fears the labor market was deteriorating and potentially making the economy vulnerable… Read More »Sharp slowdown in US job growth boosts unemployment rate to 4.3%

WASHINGTON—A bipartisan tax bill that sailed through the House six months ago reached a dead end as the Senate killed the once-promising deal Thursday and turned it into fodder for campaign-trail finger-pointing.  The bill would have revived… Read More »Senate Kills Bipartisan Tax Bill

(Reuters) – Federal Reserve Chair Jerome Powell said on Wednesday interest rates could be cut as soon as September if the U.S. economy follows its expected path, putting the central bank near the end of… Read More »Fed’s Powell puts September rate cut on table as US inflation cools

If you’re like most people, you tend to spend more as you earn more. That’s lifestyle creep, and it’s one of the biggest factors that can stop you from growing your wealth. When you can’t… Read More »How to Keep Lifestyle Creep From Hurting Your Wealth

The development of better variable spending strategies represents one of the most compelling approaches to improving retirement outcomes, according to Wade Pfau, the retirement researcher and co-founder of the Retirement Income Style Awareness platform. However, Pfau… Read More »There’s No Magic Retirement Number for Everyone: Wade Pfau

Federal Reserve officials are likely to move closer to lowering interest rates from a two-decade high this week by signaling a potential rate cut in September, though they may stop short of providing details beyond… Read More »Fed Expected to Hold Rates and Signal September Cut

Tech stocks extended their recent slide Tuesday, continuing the stock market’s rotation away from its biggest winners. Investors studied a flood of earnings reports. And they prepared for data and remarks in the coming days… Read More »Big Tech Stocks Keep Falling Ahead of Earnings Deluge, Fed Meeting

(Reuters) – U.S. private payrolls increased far less than expected in July, but that likely is not a true reflection of a labor market that continues to moderate gradually. Private payrolls rose by 122,000 jobs… Read More »US private payrolls miss expectations in July, ADP says

The U.S. initial public offering market has raised $23.2 billion in proceeds in the year to date, surpassing the $19.4 billion raised for all of 2023 — with five months still to go. That’s according… Read More »U.S. IPO market’s $23.2 billion in year-to-date proceeds exceeds the $19.4 billion raised for all of 2023

The IRS on Friday issued five new warning signs that a business has filed an incorrect claim for the pandemic-era employee retention credit (ERC). The IRS plans to announce new steps soon to counter improper… Read More »5 new warning signs of a bad claim for pandemic-era ERC

The violent rotation out of Big Tech has dragged the Nasdaq 100 Index down 8% in just over two weeks, leaving it on the cusp of a correction. Whether it can avoid that dubious milestone… Read More »Big Tech Earnings Arrive With Nasdaq 100 on Brink of Correction

US consumers are showing signs of flagging after helping to prop up the world’s largest economy since the pandemic, according to a growing number of companies, economists and investors. This week’s shaky start to the… Read More »US consumers show signs of flagging, companies and analysts warn

Henry Ford once said, “Whether you think you can or you think you can’t — you’re right.” This observation speaks to the power of belief. A belief system is a set of principles and ideologies that we… Read More »Understanding Your Financial Belief System

The IRS has made great strides in customer service, such as accepting its 1 millionth submission through the Service’s online Document Upload Tool, but it still has much room to improve, including to the wait time… Read More »Funding spurs IRS improvements, but challenges remain, commissioner says

(Reuters) – Federal Reserve policymakers are seen leaving their short-term interest-rate target in the 5.25%-5.50% range next week and waiting until September to start a string of quarter-point reductions, after fresh data showed the U.S.… Read More »Fed seen holding rates steady in July, start cuts in Sept

(Reuters) – U.S. prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services, underscoring an improving inflation environment that could position the Federal Reserve to begin… Read More »Cooling US inflation bolsters September rate cut hopes

Investors and bankers are lining up to raise billions of dollars for new special purpose acquisition companies, defying predictions the asset class would be wiped out after a series of scandals and a regulatory crackdown.… Read More »Funding surge for blank cheque companies points to Spac bounceback

A stock-market selloff intensified Wednesday, wiping out hundreds of billions of dollars in value from the Magnificent Seven group of tech giants and pushing the Nasdaq Composite to its first decline of 3% or more… Read More »Big Tech Selloff Slams Nasdaq With Worst Day Since 2022

The U.S. economy grew briskly in the second quarter. Gross domestic product rose at a 2.8% annual rate in the second quarter, adjusted for seasonality and inflation, the Commerce Department said Thursday. That handily beat… Read More »Economic Growth Quickens, Rising at 2.8% Rate in Second Quarter

KEY POINTS Most Americans may not even remember the last time they wrote a check. Only 15% of adults said they wrote a few checks a month in 2023, according to a recent report by GoBankingRates.… Read More »The death of the personal check: As retailers move toward ‘check zero,’ here’s what that means for you

Entities seeking access to beneficial ownership information (BOI) will spend over 8.7 million hours filling out paperwork in the first year and over 3.6 million in the second year, the Financial Crimes Enforcement Network (FinCEN)… Read More »FinCEN estimates millions of hours will be spent seeking BOI access

The stock market has suddenly turned upside down. The market’s laggards have sprung to life in recent days, while the seemingly impervious “Magnificent Seven” group of technology stocks has stumbled. Investors are even more focused… Read More »A Stock-Market Rotation of Historic Proportions Is Taking Shape

For more than two years, inflation has eclipsed everything else at the Federal Reserve. In a shift eagerly awaited by global markets, that’s poised to change. US central bankers are ready to cut interest rates… Read More »Fed Prepares for September Cut as Powell Shifts Focus to Jobs

Big Tech stocks are “no longer the only game in town”, according to investors who over the past week have moved out of the megacaps that have driven the market rally for years in favour… Read More »Big Tech shares lose lustre as US market rocked by violent rotation

Dive Brief: Dive Insight: The U.S. labor market has loosened in recent months, adjusting from a pandemic period of unusually high resignations, job hopping and wage gains. While price pressures have eased this year, “the labor… Read More »CFOs plan to raise salaries 3.9% in 2025: WTW

A growing number of Wall Street economists are cautioning the Federal Reserve is waiting too long to reverse course after raising interest rates to a two-decade high. Tame inflation data in each of the last three months,… Read More »Wall Street Economists See Compelling Case for Fed to Cut Now

Traders added to bets the Federal Reserve will cut interest rates three times this year after Goldman Sachs Group Inc. said conditions were ripe for easing. Two quarter-point rate reductions are fully priced in for… Read More »Traders Add to Bets on Three Fed Rate Cuts in 2024

Federal Reserve Chair Jerome Powell said second-quarter economic data has provided policymakers greater confidence that inflation is heading down to the central bank’s 2% goal, possibly paving the way for near-term interest-rate cuts. Powell highlighted… Read More »Powell Says US Data Offer Confidence That Inflation Is on Path to 2%

Why wait until September? That is the question hanging over markets after Thursday’s surprisingly weak inflation reading. There doesn’t seem to be much reason for the Federal Reserve to put off cutting rates any longer,… Read More »It’s Time for the Fed to End the Waiting Game

In less than a year, the IRS has deployed new resources to collect $1 billion from high-income individuals who owed at least $250,000 in recognized tax debt, Commissioner Danny Werfel said. “Too often during the… Read More »IRS collects $1 billion from high-income people who owed back taxes

The S&P 500 and Nasdaq Composite cruised to fresh records Wednesday, with investors appearing more confident that interest-rate cuts are on their way. The broad index logged its sixth straight record close—its longest such streak… Read More »S&P 500 Clinches Longest Streak of Records Since 2021

KEY POINTS The monthly inflation rate dipped in June for the first time in more than four years, providing further cover for the Federal Reserve to start lowering interest rates later this year. The consumer price… Read More »Inflation falls 0.1% in June from prior month, helping case for lower rates

KEY POINTS A measure of wholesale prices rose more than expected in June as Wall Street assesses when the Federal Reserve will feel comfortable cutting interest rates. The producer price index climbed 0.2% last month, the Labor Department’s… Read More »Wholesale prices rose 0.2% in June, slightly hotter than expected

(Reuters) – The “last mile” of the Federal Reserve’s battle against inflation may have shortened to a last lap after U.S. consumer prices unexpectedly fell in June, shoring up policymakers’ confidence that they are winning… Read More »June price drop may shorten the Fed’s last mile on inflation

Business leaders recognize that balancing professional responsibilities with personal well-being is essential. Understanding how vacation duration impacts recovery and productivity is key to maintaining a healthy, motivated workforce. Historically, longer vacations have been favored, but… Read More »7 Tips For Leaders To Maximize Vacation Benefits And Productivity

CFOs, especially small business CFOs, wear multiple hats, including one often overlooked and underappreciated — that of the negotiator. We often think about negotiations only in the context of infrequent, high-impact situations like negotiating an… Read More »10 tips for CFOs to drive successful negotiations

Treasury Secretary Janet Yellen said the labor market is no longer driving inflation in the US economy to the extent it was earlier in the pandemic recovery, echoing earlier comments by Federal Reserve chief Jerome… Read More »Yellen Echoes Powell Saying Labor Market Now Less Inflationary

Financial firms nudged the S&P 500 to a fresh record Tuesday, a rare day lately when a sector other than technology led the broad stock index higher.  Shares of Goldman Sachs Group and Intercontinental Exchange ended the session at… Read More »Financial Stocks Lift S&P 500 to Fresh Record

Getting an accurate measure of the startup market’s pulse is tricky — it’s an ephemeral beast, after all — but the dominant sentiment regarding startup valuations over the last year was a resounding “meh.” Plenty of startups… Read More »Startup Valuations Start Booming Again

These five questions can help CEOs get their arms around a technology that couples mind-bending promise with mind-blowing risk. If the topic of Generative AI has been hogging an increasing share of your meeting agendas,… Read More »5 Questions To Ask Before Implementing Gen AI

An elite cadre of tech giants that drove the stock market to records is under pressure to keep the party going this earnings season.  The S&P 500 has climbed 17% this year, fueled by investor excitement… Read More »Earnings Season to Test Investors’ Faith in Big Tech Stocks

Many investors hold an S&P 500 index fund in their portfolios, thinking it is a low-risk way to keep pace with the market and a counterweight to other holdings like bonds and international stocks. But… Read More »The S&P 500 Isn’t as Diverse as It Used to Be. Here’s Why That Matters.

With elevated inflation preventing Federal Reserve officials from feeling confident enough to cut interest rates, some policymakers at their meeting last month called for careful attention to signs the labor market might weaken faster than… Read More »Fed Officials Signaled No Hurry to Cut Rates

KEY POINTS Federal Reserve Chair Jerome Powell expressed satisfaction Tuesday with the progress on inflation over the past year but said he wants to see more before being confident enough to start cutting interest rates.… Read More »Powell says Fed has made ‘quite a bit of progress’ on inflation but needs more confidence before cutting

Almost two-thirds of tax professionals who responded to an annual AICPA survey about IRS customer service said it takes over 90 days for the agency to provide a substantive response to correspondence, which is the… Read More »Tax pros: IRS improving, but getting the right answer takes too long

Federal Reserve Chair Jerome Powell said he was pleased with how inflation had resumed a downtrend following a rebound at the start of the year but said it was too soon to say whether the… Read More »Powell Talks Up Progress, Putting Rate Cuts Back Into View

(Reuters) – U.S. job openings rose in May after posting outsized declines in the prior two months, but the trend remained consistent with an easing in labor market conditions that could pave the way for… Read More »US labor market steadily easing despite rise in job openings

Corporate America faces the highest earnings bar in almost three years as it prepares to report second-quarter results, according to Goldman Sachs Group Inc. strategists. Single-stock analysts predict profits at S&P 500 firms rose 9%… Read More »Goldman’s Kostin Says US Earnings Bar Is Set Highest Since 2021

Unless you have done zero work on retirement, you have a plan. It may be outdated, formal or informal, producing good results or not. But you have a plan. Then you start to think about… Read More »Things Change: Is It Time to Update Your Retirement Plan?

For the first time in three years, Wall Street’s equity capital markets bankers appear to have the wind at their backs. Initial public offerings have gotten off to their best start to a year since… Read More »US IPOs See Best Start Since ’21 as Election Shortens Window

KEY POINTS An important economic measure for the Federal Reserve showed Friday that inflation during May slowed to its lowest annual rate in more than three years. The core personal consumption expenditures price index increased… Read More »Key Fed measure shows inflation rose 2.6% in May from a year ago, as expected

As with tackling any new goal, it helps to have the right habits in place to help lead you across the finish line. Whether you’re saving up for a house, thinking about retirement or just… Read More »11 Money Habits Financial Experts Wish More People Would Cultivate

Harvard Business School professor Joseph Fuller has spent the better part of a decade studying — and working with — some of the world’s most successful people, from Fortune 500 executives to Nobel Prize laureates. … Read More »The No. 1 trait that sets highly successful people apart, says Harvard expert: ‘It’s rare to find’

WASHINGTON (AP) — The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said Thursday in a slight upgrade from its previous estimate.… Read More »US economic growth for last quarter is revised up slightly to a 1.4% annual rate

The numbers: Consumer confidence fell slightly in June and reflected the ongoing uncertainty among Americans about the future of the economy. The consumer-confidence index slipped to 100.4 this month from a revised 101.3 in May, the Conference… Read More »Consumer confidence dips again. Americans anxious about the economy.

(Reuters) – The Dow rallied on Monday to a one-month high, while the Nasdaq tumbled over 1% as investors rotated out of AI-linked stocks and added some laggards to their portfolios, betting on Federal Reserve… Read More »Dow closes at a one-month high as investors broaden portfolios

The Federal Reserve’s favored inflation yardsticks are poised to show the tamest monthly advances since late last year — a stepping stone for officials to begin lowering interest rates, possibly as soon as September. Economists… Read More »Fed’s Key Inflation Gauges May Offer Path to Rate Cuts

As a working American, you’ve likely dreamed of the day when you can finally hang up your hat for good and retire. Some dream of traveling the world, or moving to a tropical area, or… Read More »Four Ways to Prevent Feeling Regret in Retirement

KEY POINTS As older members of Generation X inch toward their golden years, the pressure of retirement saving is on — especially for those sandwiched between the financial burdens of caring for both elderly parents… Read More »As retirement looms, many Gen Xers are still playing catch-up

Federal Reserve Bank of San Francisco President Mary Daly warned the US labor market is nearing an inflection point, where further slowing could mean higher unemployment. Daly, who votes on monetary policy this year, said restrained demand will… Read More »Fed’s Daly Warns of Labor Market Risks, Nearing Inflection Point

US fiscal deficits are projected to grow over the next decade, likely pushing the government to increasingly rely on Treasury bills and healthy demand to plug the holes. The nonpartisan Congressional Budget Office last week upped its… Read More »Larger US Deficits Pave the Way for Even More Treasury Bills

The US Federal Reserve and its vast global audience thought 2024 would be a rate-cut bonanza. But with inflation proving stickier than almost anyone predicted, those expectations are fading fast. Fed Chair Jerome Powell confirmed… Read More »What Fed’s Rate-Cut Delay Means For U.S. And World

Benjamin Franklin famously observed, “The only two things you can count on in life are death and taxes.” To which an unknown wag offered the sardonic and almost equally famous rejoinder, “That may be true,… Read More »Roth IRAs: The Mathematics For High-Wealth Taxpayers

I’ve spent 30 years researching what makes people, and especially leaders, mentally strong. Along the way, I’ve discovered that you become mentally stronger by exercising six core mental muscles: You can get in easy “reps” to build… Read More »If you always use these 6 phrases, you’re mentally stronger than most

One of the upsides of retirement is that for the first time in years, you have control over your time. If you want to spend the afternoon watching Bonanza reruns, well, no one is going to stop… Read More »Tax-Smart Strategies for Account Withdrawals

Most remaining employee retention credit (ERC) claims show signs of fraud or errors, and the IRS will deny tens of thousands of the most obvious erroneous claims in the coming weeks, the Service said Thursday.… Read More »IRS: Review of 1 million ERC claims reveals most show signs of risk

It was the best of times, it was not the worst, but some pretty bad times. In the tale of two stock markets facing U.S. investors, the S&P 500 is soaring to new records driven by a… Read More »Nvidia’s Success Is the Stock Market’s Problem

What’s going on here? The US dollar hit an eight-week high against the yen and approached a five-week peak against sterling, driven by Federal Reserve policies. What does this mean? The dollar’s strength largely stems… Read More »US Dollar Hits Eight-Week High Against Yen, Advancing Against Sterling

Workers are feeling less optimistic, according to recent data from Glassdoor’s Employee Confidence Index. Professionals reporting a positive six-month business outlook plummeted to 46.4% in May, continuing its spiral downward in the last two years. A… Read More »U.S. Workers Are Experiencing A Gap Between Expectations Versus Reality

A chorus of Federal Reserve officials on Tuesday emphasized the need for more evidence of cooling inflation before lowering interest rates, with a couple policymakers offering insight into the potential timing of such a move.… Read More »Fed Officials Urge Patience on Rate Cuts, Offer Hints on Timing

The S&P 500 pulled back on Thursday after briefly passing the 5,500 level for the first time ever as market bellwether Nvidia gave up earlier gains. The broad market index fell 0.25% to end at 5,473.17. Earlier in… Read More »S&P 500 closes slightly lower after briefly breaching 5,500, Nvidia takes a breather: Live updates

Markets are unusually calm—and that’s making Wall Street nervous. Stocks have been on a steady climb, with the S&P 500 up 14% nearly halfway through 2024 and closing at 29 records along the way. One-day… Read More »Investors Fear Long Stretch of Calm in Markets Can’t Last

WASHINGTON—The 21% U.S. corporate tax rate is the biggest single variable in the sprawling 2025 tax debate, and the two parties are trying to turn that dial in opposite directions with major consequences for companies’ profits… Read More »Corporate Tax Rate Spurs Political Fight With More Than $1 Trillion at Stake

KEY POINTS Almost three-quarters — 70% — of people turning 65 will need long-term care in their lifetime, according to a report by the Urban Institute and the Department of Health and Human Services. How to pay for that care is… Read More »Making a plan to pay for long-term care: Insurance and other alternatives

The Federal Reserve has more than one way to work its will on the economy. It could soon start using its more subtle tools to start nudging rates down. That still would have a real… Read More »How the Fed Can Cut Rates This Summer Without Cutting Rates

The artificial-intelligence trade and Tesla TSLA 2.92%increase; green up pointing triangle powered the Nasdaq and the S&P 500 to fresh records Thursday, while the blue-chip Dow Jones Industrial Average continued to sputter. The mixed market came a day after… Read More »Tech Lifts S&P 500, Nasdaq to Fresh Highs

If you’re not spending time each day trying out new AI tools and understanding how the burgeoning technology may impact your work or life — you’re going to fall behind. That was the message from… Read More »‘We know something big is happening’: Tech vets encourage experimentation, education with AI

In September 2023, the IRS announced a moratorium on the processing of new employee retention credit (ERC) claims because of what it said was rampant fraud. That moratorium has not stopped the filing of new… Read More »9 months into ERC claim processing moratorium, still a waiting game

The dollar is rising toward a new high for the year on speculation that Wednesday’s US inflation reading and Federal Reserve policy decision will increase demand. The Bloomberg Dollar Spot Index rose Tuesday for a fourth straight… Read More »Dollar’s Rise Toward 2024 High Aided by CPI, Fed Speculation

KEY POINTS The consumer price index showed no increase in May as inflation slightly loosened its stubborn grip on the U.S. economy, the Labor Department reported Wednesday. The CPI, a broad inflation gauge that measures a basket… Read More »Inflation slows in May, with consumer prices up 3.3% from a year ago

The Federal Reserve will lower interest rates just once this year, according to a new poll of academic economists, as lingering inflation forces the US central bank to adjust its schedule to cut borrowing costs.… Read More »US Fed will cut interest rates just once this year, say economists

Mounting political heat is complicating interest rate decisions in the US and the UK, where central banks are weighing whether to cut borrowing costs as voters prepare to go to the polls. The Bank of England and… Read More »Political heat gives central bankers pause for thought on interest rate cuts

WASHINGTON (AP) — The World Bank upgraded its outlook for the global economy Tuesday, estimating that it will expand 2.6% this year on the strength of sustained growth in the United States. The bank’s latest… Read More »World Bank boosts forecast: Strength of US economy will support global growth of 2.6% this year

Inflation is still higher than the 2% the Federal Reserve is aiming for, and maybe that is OK. That is, if we could just put aside the fact that we hate inflation so much. Fed policymakers are… Read More »Americans Really, Really Hate Inflation—and That’s a Big Problem for the Fed

Economists are divided over how many interest-rate cuts Federal Reserve officials will signal for 2024 at their policy meeting next week, following a pop in recent inflation figures. Policymakers are likely to back away from… Read More »Fed Seen Curbing Rate-Cutting Plans With Inflation Staying High

KEY POINTS The U.S. economy added far more jobs than expected in May, countering fears of a slowdown in the labor market and likely reducing the Federal Reserve’s impetus to lower interest rates. Nonfarm payrolls… Read More »U.S. adds a much-better-than-expected 272,000 jobs in May, but unemployment rate edges up to 4%

Recently, I gave a talk — in a building that was once a church, believe it or not — on what I call the “seven deadly sins of wealth management.” I’d like to share a… Read More »The Seven Deadly Sins of Wealth Management

The IRS now has enough money that it can hire more experienced workers to audit both companies and individuals, and it does not have to pick and choose among whom to audit, a managing director… Read More »Expert warns: IRS has what it needs to pursue more audits

Lynn Hogan and her husband jokingly call themselves “the turtles” after methodically investing for decades. In the current race against inflation, which has made trips more expensive and $200 grocery bills not uncommon, the mostly retired… Read More »Americans Have More Investment Income Than Ever Before

Bond traders are tilting dovish again, piling into wagers that would benefit from a faster pace of Federal Reserve interest-rate cuts as Treasuries rally. While US yields inched higher on Wednesday, 10-year rates have declined… Read More »Bond Traders Pile Into Fresh Bets on Faster Pace of Fed Cuts

For a decade now, currency markets have been ruled by the strengthening dollar. But no kingdom lasts forever. Contrary to what many on Wall Street expected, the U.S. dollar has gotten a fresh wind this… Read More »The Dollar Is at Its Strongest Since the 1980s. Can It Last?

About three quarters of organizations plan to change their talent strategies in the next two years, focusing on altering work processes and investing in upskilling and reskilling, according to the Deloitte AI Institute’s latest report. To… Read More »Generative AI Is Forcing Employees To ‘Level Up,’ Report States

NEW YORK (AP) — A U.S. federal court of appeals panel suspended a venture capital firm’s grant program for Black women business owners, ruling that a conservative group is likely to prevail in its lawsuit… Read More »A grant program for Black women business owners is discriminatory, appeals court rules

Federal Reserve Bank of New York President John Williams said he expects inflation to continue falling in the second half of this year, adding that elevated borrowing costs are restraining the economy. Williams said that… Read More »High Interest Rates Are Working, Fed’s Williams Says

KEY POINTS Inflation rose about as expected in April, with markets on edge over when interest rates might start coming down, according to a measure released Friday that is followed closely by the Federal Reserve.… Read More »The Fed’s preferred inflation measure rose 0.2% in April, as expected

(AP) — The U.S. economy grew at a sluggish 1.3% annual pace from January through March, the weakest quarterly rate since the spring of 2022, the government said Thursday in a downgrade from its previous… Read More »US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending

The Federal Reserve’s first-line inflation gauge is about to show some modest relief from stubborn price pressures, corroborating central bankers’ prudence about the timing of interest-rate cuts. Economists expect the personal consumption expenditures price index… Read More »Fed’s Favorite Underlying Inflation Gauge Is Seen Cooling

The US stock market is finally as fast as it was about a hundred years ago. That was the last time share trades in New York settled in a single day, as they will from… Read More »Wall Street Returns to T+1 Stock Trading After a Century

Another round of blowout earnings from artificial-intelligence darling Nvidia Corp. and the economy’s steady advance mean the S&P 500 Index likely has further room to rise, according to JPMorgan Chase & Co.’s trading desk. “With the AI-theme still delivering and the… Read More »JPMorgan Traders See Nvidia, Economy Fueling S&P 500 Gains

US Treasury secretary Janet Yellen has said “substantial increases” in living costs are a “problem to a lot of people” as persistent inflation dents President Joe Biden’s standing with voters ahead of November’s election. Prices… Read More »Janet Yellen says many Americans still struggling with inflation

Federal Reserve officials earlier this month coalesced around a desire to hold interest rates higher for longer and “many” questioned whether policy was restrictive enough to bring inflation down to their target. Minutes from the… Read More »Fed Minutes Show Officials Rally Around Higher-for-Longer Rates

KEY POINTS JPMorgan Chase’s chairman and CEO, Jamie Dimon, says a “hard landing” for the U.S. cannot be ruled out. When asked by CNBC’s Sri Jegarajah about the prospect of a hard landing, Dimon replied: “Could we actually… Read More »JPMorgan CEO Jamie Dimon says can’t rule out ‘hard landing’ for the U.S., stagflation will be ‘worst outcome’

Being the victim of a complicated fraud scheme is a situation every company wants to avoid, given the potential reputational and financial damage. CPAs can help their clients mitigate their risk of business fraud effects… Read More »Tracking the top trends in fraud

The IRS issued a consumer alert Tuesday about scams involving the fuel tax credit, the sick and family leave credit, and household employment taxes that it said have led thousands of taxpayers to file inflated refund claims.… Read More »IRS warns about more tax scams

(Reuters) – Data this week offered the U.S. Federal Reserve good news on two fronts but policymakers haven’t openly shifted views yet about the timing of rate cuts investors are convinced will start this year.… Read More »Fed remains cautious on cuts even as data improves

US stocks could not reach new records on Thursday, despite the Dow Jones Industrial Average (^DJI) touching 40,000 for the first time ever. The Dow finished the day down 0.1%, closing at 39,869 after briefly… Read More »Stock market today: Stocks pull back from records after Dow touches 40,000 for first time

All three major U.S. stock indexes closed at records after the latest inflation report showed price pressures moderating, bucking a trend of hotter-than-expected readings. The S&P 500, Dow Jones Industrial Average and Nasdaq Composite logged… Read More »Stock Indexes Book Records After Inflation Eases

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start… Read More »Fed’s Powell downplays potential for a rate hike despite higher price pressures

KEY POINTS Inflation eased slightly in April, providing at least a bit of relief for consumers while still holding above levels that would suggest a cut in interest rates is imminent. The consumer price index, a broad… Read More »CPI report shows inflation easing in April, with consumer prices still rising 3.4% from a year ago

Three straight months of hot inflation data dented Wall Street’s confidence that a series of interest-rate cuts is set to start at any minute. Investors are hoping the fourth time is the charm. A mood… Read More »Investors Crowd Into Soft-Landing Trade Ahead of Crucial Inflation Data

US producer prices rose in April by more than projected, though key components that feed into the Federal Reserve’s preferred inflation gauge were more muted. The producer price index for final demand increased 0.5% from… Read More »US Producer Prices Top Forecasts, But Details Offer Some Relief

North America’s largest companies are on track to post their best quarterly earnings relative to expectations in at least two years, as they’ve worked to keep costs down over fears of a recession. The 459… Read More »A Doomsday Recession Mentality Is Keeping the S&P 500 Strong

(Reuters) – Debate over whether U.S. interest rates are high enough deepened among Federal Reserve officials this week, and may be stoked further after a key survey showed a jump in consumers’ inflation expectations. “There… Read More »Fed officials mull whether rates high enough as inflation expectations jump

(Reuters) – A host of U.S. companies are faced with a problem they had not expected to confront this year: a rising dollar. Many market participants believed the dollar would fall on the back of… Read More »Dollar’s stubborn strength dents US companies’ earnings cheer

Cryptocurrency exchange FTX has amassed billions of dollars more than it needs to cover what customers lost in its November 2022 collapse, setting them up to receive full recoveries, plus interest, a rare outcome in… Read More »FTX Has Billions More Than Needed to Pay Bankruptcy Victims

(Reuters) – Federal Reserve Bank of Boston President Susan Collins said on Wednesday that the U.S. economy needs to cool off as an avenue toward getting inflation back to the central bank’s 2% target. “A… Read More »Fed’s Collins says economy may need to weaken to get 2% inflation

KEY POINTS Initial filings for unemployment benefits have hit their highest level since late August 2023, a potential sign that an otherwise robust labor market is changing. Jobless claims totaled a seasonally adjusted 231,000 for the… Read More »Weekly jobless claims jump to 231,000, the highest since August

“Not having enough money for retirement” continues to be the top financial worry for Americans, according to a new Gallup poll. Shortly behind that worry is “not being able to pay medical costs of a serious… Read More »Having Enough Money for Retirement Still a Top Concern, But Moods Are Changing

KEY POINTS The trust funds the Social Security Administration relies on to pay benefits are now projected to run out in 2035, one year later than previously projected, according to the annual trustees’ report released Monday. On… Read More »Social Security now expected to run short on funds in 2035, one year later than previously projected, Treasury says

Job growth took a step down in April, as reported in Friday’s employment numbers. But there is a world of difference between a slightly weaker labor report and the types of job losses that could push… Read More »Profits Are Booming—and That’s Shielding the Economy

Evidence is stacking up that the U.S. economy has slowed, led by the formerly red-hot services sector.  Yet overall activity levels remain healthy, and some cooling is welcome news to investors because it opens the… Read More »The Economic Slowdown Is Finally Here. Welcome It.

KEY POINTS Some of America’s best-known corporations are saying their consumers are being pinched by inflation as prices continue rising. Inflation has dominated corporate America’s discourse over the past three years following the pandemic-induced easing of monetary… Read More »McDonald’s and other big brands warn that low-income consumers are starting to crack

Federal Reserve Chair Jerome Powell tried to keep the central bank’s options open Wednesday by sticking with his view that interest rates are restrictive and that inflation was likely to resume its decline. But a… Read More »Fed Chair Jerome Powell Projects Optimism, But Inflation Data Are in the Driver’s Seat

Time is precious, and Americans know it. To gauge how precious, financial planning firm Empower asked 2,204 adults between March 11 and 14 how much money they thought an hour of their time was worth. On average,… Read More »Time’s money, but how much? Here’s what Americans think an hour of their time is worth

We often hear people say that they are good as long as things just keep on moving up and to the right. If only that were the reality. Of course, if given long enough, that’s… Read More »Risk in Retirement: What’s the Right Level for You?

Amongst other things, 2023 will be remembered as the year of chatbot AI, particularly ChatGPT. Though many of us are aware of ChatGPT, it’s probably safe to say most of us don’t understand how it… Read More »ChatGPT: Use cases and limits to its reliability

KEY POINTS The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, lifting hopes that the Federal Reserve will be able to cut interest rates in the coming months. Nonfarm… Read More »U.S. job growth totaled 175,000 in April, much less than expected, while unemployment rose to 3.9%

WASHINGTON (AP) — Since retiring two years ago, Joan Harris has upped her travel game. Once or twice a year, she visits her two adult children in different states. She’s planning multiple other trips, including… Read More »Affluent Americans are driving US economy and likely delaying need for Fed rate cuts

On July 10, 2023, I walked out of my old office for the last time. Upon my departure, I gave up a lot of my identity. I spent eight years with the firm and was… Read More »Five Ways to Make Retirement a Little Less Scary

An ancient Chinese proverb that counsels “do nothing, and everything will be done” could sum up the Federal Reserve’s latest approach to interest-rate policy. Fed officials will hold their benchmark federal-funds rate steady at its… Read More »Fed to Signal It Has Stomach to Keep Rates High for Longer

WASHINGTON (AP) — U.S. consumer confidence deteriorated for the third straight month as Americans continue to fret about their short-term financial futures with prices and interest rates still elevated. The Conference Board, a business research… Read More »Confidence of US consumers continues to decline as Americans worry about the future

One of the more challenging issues that partnerships, S corporations, and other passthrough entities (PTEs) must consider in the complex world of state and local taxes (SALT) is the passthrough entity tax (PTET) and the… Read More »PTETs: Orchestrating ASC 740 compliance

Twenty-two years ago, Congress enacted the Sarbanes-Oxley Act — the landmark legislation that created the foundation for the modern corporate financial reporting and auditing landscape, as well as developing the Public Company Accounting Oversight Board… Read More »Proposed PCAOB rule risks turning auditors into legal watchdogs

(CNN) — Inflation remained stubbornly high last month, but it hasn’t stopped Americans from spending. The Personal Consumption Expenditures price index — a closely watched inflation gauge favored by the Federal Reserve — accelerated to 2.7% for… Read More »The Fed’s preferred inflation gauge just moved in the wrong direction

Two powerful business lobby groups filed suit Wednesday against the Federal Trade Commission seeking to overturn its ban on noncompete agreements just one day after it was finalized. Why it matters: The lawsuit will likely delay the ban from taking… Read More »Business groups sue to block FTC’s ban on noncompete agreements

KEY POINTS U.S. economic growth was much weaker than expected to start the year, and prices rose at a faster pace, the Commerce Department reported Thursday. Gross domestic product, a broad measure of goods and… Read More »GDP growth slowed to a 1.6% rate in the first quarter, well below expectations

You may have spent decades saving for retirement, waiting for the day when you could step back from long hours at work and do what you want with your time. But stopping work entirely can… Read More »Ease on Down the Road to Retirement

JPMorgan Chase chief executive Jamie Dimon said the US economy was “booming” but warned that he was “on the cautious side” of there being a soft landing. In a wide-ranging interview on Tuesday at the… Read More »Jamie Dimon cautions over soft landing for ‘unbelievable’ US economy

WASHINGTON—The Federal Trade Commission on Tuesday banned employers from using noncompete contracts to prevent most workers from joining rival firms, achieving a policy goal that is popular with labor but faces an imminent court challenge from business… Read More »FTC Bans Noncompete Agreements That Restrict Job Switching

Traders have built up bets that the Federal Reserve could raise interest rates again, a once-unthinkable prospect that highlights a shift in market expectations after stronger than expected US economic data and hawkish comments from… Read More »Investors price in growing chance of another Federal Reserve interest rate rise

Contrary to popular belief, reaching professional goals doesn’t always have to equate to revenue. Although money makes a difference when growing your brand and solidifying your place as a successful entrepreneur, make sure you’re investing in yourself… Read More »You Won’t Be a Successful Entrepreneur Until You Adopt These 3 Habits

While professionals often set goals and devise strategies on behalf of their employer, they may be less inclined to apply the same practices to their personal life.  In addition to fostering a sense of purpose and direction,… Read More »Build a life plan to boost your career

Finance leaders haven’t felt this good about the U.S. economy in nearly three years. Grant Thornton’s Q1 2024 CFO survey found that 57% of CFOs are optimistic or very optimistic about the U.S. economy, marking an 11-quarter… Read More »CFO optimism reaches 3-year high, new survey shows

For the most part, the growing list of sustainability-related regulations around the globe doesn’t demand as much from small and medium-size enterprises. Many SMEs, however, are demanding more of themselves — for the good of… Read More »Despite barriers, smaller companies make big strides in sustainability

Happiness, it appears, is now coming to people at a time when most of them weren’t expecting it: in their sixties. According to a new survey, older Americans are among the globe’s happiest people, with… Read More »Older—and Happier?

Top performers and the best leaders usually have one skill in common: a high level of emotional intelligence. The bulk (90%) of top performers have high emotional intelligence and 58% of job performance is impacted… Read More »Emotional intelligence is a top skill in the workplace. But can it be taught?

Social Security has become a saving grace for Americans, especially for retirees. The social insurance program was established back in 1935 and is funded by taxpayers through the Federal Insurance Contributions Act tax. Around 53… Read More »Strategies to Optimize Your Social Security Benefits

The Federal Reserve is likely to wait longer than initially expected to cut interest rates, given stubborn inflation readings in recent months, the central bank’s top two officials said Tuesday. Policymakers came into 2024 looking… Read More »Powell Suggests Interest Rates Could Stay High for a Longer Period

The International Monetary Fund inched up its expectations for global economic growth this year, citing strength in the US and some emerging markets, while warning the outlook remains cautious amid persistent inflation and geopolitical risks.… Read More »IMF Lifts Growth Forecast for Global Economy, Warns of Risks

BlackRock Inc.’s Robert Kapito says the stock market is poised to benefit as investors deploy their outsized holdings of cash. There’s almost $9 trillion sitting in money market funds and the same amount in cash… Read More »BlackRock’s Kapito Says Stocks Are Primed for a Comeback

Expectations that the Federal Reserve would aggressively cut interest rates this year have helped propel stocks to repeated records. Now that the case for rate cuts is weakening, scrutiny of the bull market is intensifying. The… Read More »Here’s What Higher for Longer Means for the Stock Market

(Reuters) – U.S. retail sales increased more than expected in March amid a surge in receipts at online retailers, further evidence that the economy ended the first quarter on solid ground. The report from the… Read More »Strong US retail sales boost first-quarter growth estimates

KEY POINTS Even as the IRS makes headlines for cracking down on the wealthy, state tax collectors have become even more aggressive with audits of high earners, according to tax attorneys and accountants. In New… Read More »State tax officials are using AI to go after wealthy payers

Don’t bank on an upbeat corporate earnings season to drive equities higher as much of the optimism is already priced in following the record-breaking rally this year, according to JPMorgan Chase & Co. strategists. First-quarter… Read More »JPMorgan Strategists Say Earnings Unlikely to Boost Lofty Stocks

It has been two years since forecasters felt this good about the economic outlook. In the latest quarterly survey by The Wall Street Journal, business and academic economists lowered the chances of a recession within… Read More »‘Envy of the World’—U.S. Economy Expected to Keep Powering Higher

US stocks slid and equity-market volatility hit a six-month peak following Iran’s military strike on Israel, as markets assessed the risk of the conflict escalating into a full-blown war that could curb energy supplies from… Read More »US stocks drop as traders weigh risks of wider war in Middle East

Even though you may be a high-net-worth individual, you are still capable of making mistakes in retirement. But these mistakes may be different now that you have more disposable funds. Below are five common mistakes… Read More »Five Mistakes High-Net-Worth Individuals Make in Retirement

Conservation easements, digital assets, and microcaptive insurance — these are just some of the schemes and scams the IRS covered Thursday, the last day of its annual Dirty Dozen campaign. Started in 2002 by the… Read More »Dirty Dozen list ends with easements, digital assets, and more

A rare rally in both tech stocks and commodities, combined with a jump in bond yields, has echoes of periods when bubbles are forming, according to strategists at Bank of America Corp. The unusual price… Read More »BofA Warns Current Price Moves Are Typical of Bubbly Markets

The percentage of companies that have defaulted on their debt more than once has reached its second highest level since 2008, according to a new report from S&P Global Ratings. Around 35% of total global… Read More »More Companies Are Defaulting Over and Over Again, S&P Says

A hotter-than-expected inflation print Wednesday morning all but removed the possibility of interest rate cuts in the near future. That leaves earnings as a last leg of support for the resilient stock market rally that… Read More »Earnings Are Last Pillar of Equity Strength as Rate Cuts Recede

KEY POINTS The consumer price index accelerated at a faster-than-expected pace in March, pushing inflation higher and likely dashing hopes that the Federal Reserve will be able to cut interest rates anytime soon. The CPI, a broad measure of goods and services costs… Read More »Consumer prices rose 3.5% from a year ago in March, more than expected

Treasury yields reached their highest levels of the year Monday — where they swiftly attracted buyers — as traders decided two Federal Reserve interest-rate cuts are likelier than three this year. Loss of faith that… Read More »Treasury Yields at Year’s Highs Draw Buyers Despite Fed Rethink

Global stock market concentration has risen to its highest level in decades, increasing risk for passive investors. The 10 largest stocks in the MSCI All Country World Index now account for 19.5 per cent of… Read More »Global dominance of biggest stocks rises to highest in decades

“It’s time for founders to take out their pitch decks,” said Fernando Fabre, CEO of Kauffman Fellows, as he previewed the results of the almost 30-year-old organization’s first venture sentiment survey.    Around 53%  of investors surveyed predicted… Read More »Kauffman Fellows Sentiment Survey Says Venture Investors Plan To Spend More In 2024

Over the years, ZDNET readers have challenged, informed, and inspired me in countless ways.  Recently, I wrote about how using ChatGPT as a virtual assistant for a data project saved me many hours of work. Reader… Read More »AI taking on more work doesn’t mean it replaces you. Here are 12 reasons to worry less

The AICPA and over 50 state CPA societies have written to the Treasury secretary and the director of the Financial Crimes Enforcement Network (FinCEN) asking that enforcement of beneficial ownership information (BOI) reporting requirements be… Read More »AICPA: BOI ruling confuses businesses; enforcement should be delayed

Rebates paid at the time of sale under two home energy rebate programs created in the Inflation Reduction Act are not includible in individual purchasers’ gross income or cost basis, the IRS said Friday in Announcement… Read More »Two home energy rebates not includible in gross income, IRS says

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said artificial intelligence may be the biggest issue his bank is grappling with, likened its potential impact to that of the steam engine and said the technology… Read More »Dimon Likens AI’s Transformational Impact to Steam Engine

Stocks have been on a tear this year. The coming earnings season will show investors whether corporate profits are backing up the market rally. The S&P 500 has increased 9.1% year to date and is… Read More »Earnings Season to Test Stock-Market Rally

WASHINGTON (AP) — The U.S. Securities and Exchange Commission is pausing the implementation of its new climate disclosure rule while it defends the regulation in court. Wall Street’s top regulator voted in March on the final rule,… Read More »Amid legal challenges, SEC pauses its climate rule

On Aug. 10, 2023, the Tax Court held in Parker, T.C. Memo. 2023-104, that an S corporation’s debt that was canceled in connection with the transfer of property should be included in the amount realized on… Read More »Tax Court rules cancellation of debt is part of gain realization

The Securities and Exchange Commission said Thursday it would pause the implementation of its new climate disclosure rule while it fights in court over the measure’s legality. The SEC will stay the rule, in part… Read More »SEC Accepts Pause on Its Climate Rule

Thanks for joining us. Here are five key takeaways from the March US employment report, released Friday:

WASHINGTON (AP) — Federal Reserve officials will likely reduce their benchmark interest rate later this year, Chair Jerome Powell said Wednesday, despite recent reports showing that the U.S. economy is still strong and that U.S. inflation picked… Read More »Powell: Fed still sees rate cuts this year; election timing won’t affect decision

Two Federal Reserve officials who vote on monetary policy decisions this year said they still expect the US central bank to cut rates three times in 2024, though they’re in no rush to begin lowering… Read More »Fed Officials Say Three Rate Cuts a Reasonable Baseline for 2024

Corporate profits hit record highs in the fourth quarter of last year. But corporations aren’t the only ones riding high: The supercharged bottom lines of America’s biggest companies may have helped boost the entire country’s economy, keep… Read More »Thank ‘gangbusters’ corporate profits for keeping you employed and staving off the recession, top economist says

The Congressional Budget Office warned in its latest projections that US federal government debt is on a path from 97% of GDP last year to 116% by 2034 — higher even than in World War… Read More »A Million Simulations, One Verdict for US Economy: Debt Danger Ahead

Bond traders priced in less monetary-policy easing by the Federal Reserve this year — and briefly set the odds of a first move in June below 50% — after a gauge of US manufacturing activity… Read More »June Fed Rate-Cut Odds Dip Below 50% After Strong ISM Data

Stocks fell broadly Monday after new economic data prompted investors to dial back bets on interest-rate cuts this year. Coming off its best first quarter since 2019, the S&P 500 started the trading day modestly… Read More »S&P 500 Drops to Start New QuarterS&P 500 Drops to Start New QuarterS&P 500 Drops to Start New Quarter

In the early days of the generative artificial intelligence (GenAI) revolution, users had only a couple of ways to use new services such as ChatGPT. Most often, they had to log on to a specific… Read More »Microsoft’s huge AI rollout: What CPAs should know

Leadership has never been easy. And, according to half of executives in a January survey, leadership will be more challenging in 2024. The challenges, besides economic and geopolitical uncertainty, are numerous and fast-moving. That’s why… Read More »C-suite sentiment: Leadership isn’t getting any easier this year

What comes to mind when you hear the term “retirement planning”? Most people think of investments, Social Security, health insurance, tax strategies and other money-related issues. These pieces are all a big part of the… Read More »How to Plan for Retirement’s Go-Go, Slow-Go and No-Go Years

Global stock markets have recorded their best first-quarter performance in five years, buoyed by hopes of a soft economic landing in the US and enthusiasm about artificial intelligence. An MSCI index of worldwide stocks has… Read More »AI boom drives global stock markets to best first quarter in 5 years

The Numbers The Bureau of Economic Analysis released the Federal Reserve’s preferred measure of inflation, the core personal consumption expenditures price index, on Friday morning. The core index rose 0.3% in February, equal to economists’… Read More »February PCE Report: Core Inflation In-Line With Expectations

The IRS opened its annual Dirty Dozen list of scams that target tax professionals, taxpayers, and businesses on Thursday with a warning about evolving phishing and smishing scams designed to steal sensitive information. Fraudsters and… Read More »Dirty Dozen list from IRS opens with phishing, smishing scams

Time is running out for hundreds of thousands of taxpayers to claim their owed 2020 tax refunds, according to the IRS. The agency says nearly $1 billion remains unclaimed ahead of the May 17 filing… Read More »$1 billion in 2020 tax refunds remain unclaimed, IRS says

Many investors had high hopes going into 2024. The market’s robust first-quarter rally still managed to surprise them. Everything from stocks to bitcoin to gold marched to new records. The S&P 500 gained 10% in… Read More »The S&P 500 Clinches Best Start to Year Since 2019

(Reuters) – The U.S. economy grew faster than previously estimated in the fourth quarter, boosted by strong consumer spending and business investment in nonresidential structures like factories and healthcare facilities. The report from the Commerce… Read More »US economy continues to shine with help from consumers, labor market

Junk-rated US companies have seen their interest costs rise after the Federal Reserve’s rate-hike campaign, but profits haven’t kept up, putting a squeeze on finances and underscoring a key risk for investors in high-yield debt… Read More »Junk Market Flashes Warning as Rates Seen Staying High

The US faces a Liz Truss-style market shock if the government ignores the country’s ballooning federal debt, the head of Congress’s independent fiscal watchdog has warned. Phillip Swagel, director of the Congressional Budget Office, said… Read More »US faces Liz Truss-style market shock as debt soars, warns watchdog

Stock traders decided to take some chips off the table at the start of a week that will bring the Federal Reserve’s preferred inflation measure — on a day when markets will be closed. Equities… Read More »‘Priced for Perfection’ Stocks See Rally Stall: Markets Wrap

KEY POINTS We’ve all been told that following a routine is important in many aspects of life — for physical fitness, good eating habits, solid work patterns and so on. But many experts are telling… Read More »Op-ed: Establish routines that support financial goals. Doing so can help you build wealth

(Bloomberg) — A rush of megadeals is powering a rebound in mergers and acquisitions, bringing some much-needed relief for investment bankers after two years of subdued activity. Global deal values are up about 21% year-on-year… Read More »Megadeals Make a Comeback to Power $660 Billion M&A Revival

Americans are continuing to spend, despite anxiety over the economy, making companies question their expectations of consumer spending habits during slower economic growth. Shoppers are stretched, but discretionary spending isn’t abating as quickly as some finance… Read More »Never Ending Revenge Spending—‘What Is the New Norm?’

US small-cap stocks are suffering their worst run of performance relative to large companies in more than 20 years, highlighting the extent to which investors have chased megacap technology stocks while smaller groups are weighed… Read More »US small-caps suffer worst run against larger stocks in over 20 years

When you’re a new parent, you have a lot on your plate. Between learning how to care for your child’s physical and emotional needs and adapting your life around your new family member, you’re also… Read More »Seven Steps to Start Your Child Off on the Right Financial Foot

The Federal Reserve is still aiming to lower interest rates later this year, and for many U.S. households and small businesses those rate cuts can’t come soon enough. But for big companies able to tap… Read More »The Fed’s Conundrum: Interest Rates Are Both Too High—and Too Low

“Joe, I enjoyed your workshop, but you have to stop using the word ‘depends’ when you’re talking to a bunch of old folks!” This was the response I got from a gentleman in the crowd… Read More »When Should You Start Social Security Benefits? It Depends

Federal Reserve members still see three interest rate cuts in 2024 despite an improving outlook for economic growth. The Federal Open Market Committee’s March projections for rate cuts, or the so-called “dot plot,” shows a median Federal… Read More »Fed raises GDP and inflation outlook, while keeping rate cut forecast

Recent surges in startups and other forms of business creation are key signs of the economy’s strong recovery following the COVID-19 pandemic recession. Before the pandemic, economists and policymakers worried that a series of metrics such as a falling… Read More »Entrepreneurship, Startups, and Business Formation Are Booming Across the U.S.

WASHINGTON—U.S. businesses, big and small, have united behind a bipartisan bill to revive expired tax breaks for research and equipment spending, help that many see as critical to competing with foreign rivals or even surviving.… Read More »Business Tax Breaks Face ‘Now or Never’ Moment in Senate

Every time an employee leaves an organization a slew of resources are drained to find their replacement.  While companies aren’t necessarily shelling out thousands of dollars upfront to find a replacement, they are losing a… Read More »How to calculate the real cost of employee turnover

Three in five finance leaders say “now is not a good time” to be taking greater risks, according to a recent survey, partly because of the prospect of interest rate cuts. Deloitte’s first-quarter North American CFO… Read More »Risk concerns remain for CFOs, but they see improvement ahead

The dream of retiring outside the U.S. is becoming a reality for more Americans. You may see your standard of living rise in a country like Norway or Iceland, or maybe you envision a healthier… Read More »Want to Retire Abroad? Five Things to Know About Your Money

When many in the workforce daydream about retirement, the idyllic images that flood their minds sometimes get drowned out by fears of the unknown. While those fears are natural, those who know what retirement is… Read More »Retirement fears do not play out in reality, survey shows

When the Federal Reserve began sharply raising interest rates two years ago, the prospect of mortgage rates hitting 7% terrified Dwight Sandlin, a home builder based in Birmingham, Ala. “I was scared to death. Scared.… Read More »The Fed’s Challenge: Has It Hit the Brakes Hard Enough?

A recent pickup in inflation isn’t likely to shift Federal Reserve policymakers’ forecasts for three interest-rate cuts this year and four in 2025, according to economists surveyed by Bloomberg News. The Federal Open Market Committee… Read More »Fed Seen Sticking With Three 2024 Cuts Despite Higher Inflation

KEY POINTS Wholesale prices accelerated at a faster-than-expected pace in February, another reminder that inflation remains a troublesome issue for the U.S. economy. The producer price index, which measures pipeline costs for raw, intermediate and finished… Read More »Wholesale inflation rose 0.6% in February, much more than expected

A bipartisan bill to expand the child tax credit and reinstate a set of business tax breaks has stalled in the Senate after winning overwhelming approval in the House, as Republicans balk at legislation they… Read More »Bipartisan Tax Bill Is Stuck in Senate Limbo After Broad House Approval

EXCLUSIVE: Treasury Secretary Janet Yellen said Wednesday that inflation could face a bumpy return to normal after back-to-back reports showed that price pressures within the U.S. economy rebounded at the start of the year. In a sit-down interview… Read More »Janet Yellen warns inflation decline might not be ‘smooth’

Prices paid to US producers rose in February by the most in six months, driven by higher fuel and food costs that add to evidence inflation remains elevated. The producer price index for final demand… Read More »US Producer Prices Jump, Adding to Signs of Persisting Inflation

End-of-year planning is a notoriously busy sprint for leaders. Upon reaching the finish line, CEOs must resist the urge to simply close the books and move on. Instead, they should pause to reflect on their… Read More »3 areas where CEOs can improve their strategic planning

Sometimes people have years to plan for retirement. And sometimes they’re forced to cram a lot of big life decisions into just a couple of weeks. It might sound odd, but this happened last spring… Read More »When Retirement Comes At You Fast

The U.S. Justice Department (DOJ) appealed a federal court decision that held the Corporate Transparency Act (CTA), P.L. 116-283, which requires the reporting of beneficial ownership information (BOI) by businesses, is unconstitutional. On Monday, the… Read More »Decision holding Corporate Transparency Act unconstitutional appealed

Confidence among U.S. small businesses weakened unexpectedly in February, as the future path of inflation returned as a top concern. The National Federation of Independent Business said Tuesday that its small-business optimism index declined to… Read More »U.S. Small Business Optimism Weakens on Inflation Worries

(Reuters) – A key indicator of an oncoming recession implied by the U.S. bond market is no longer reliable, according to nearly two-thirds of strategists polled by Reuters. A persistent negative spread between 2-year and… Read More »Inverted yield curve no longer reliable recession flag, strategists say

The Consumer Price Index rose 0.4% in February, while the core measure that excludes food and energy prices increased by the same amount, the government said on Tuesday. Why it matters: While inflation has plunged from its… Read More »Consumer Price Index comes in hot for second straight month

Bank of America Corp. sees little evidence to support the worriers on Wall Street who say the stock market has risen too far, too fast and is approaching bubble territory. The rally in US equities… Read More »No Sign of Bubble Forming for BofA: ‘This Bull Market Has Legs’

(Reuters) – The U.S. Federal Reserve will cut its key interest rate in June, according to a stronger majority of economists in the latest Reuters poll, as the central bank waits for more data to… Read More »Fed to start rate cuts in June; risk fewer delivered this year: Reuters poll

February’s hotter-than-expected inflation data did little to change investors’ rate-cut expectations for this year. That lifted stocks Tuesday. Read the day’s full markets round-up here. The consumer-price index rose 3.2% in February from a year earlier, topping the… Read More »Stock Market News, March 12, 2024: S&P 500 Logs Fresh Record After Hotter-Than-Expected Inflation Data

Shamus Rae, founder and chief executive of the UK-based audit tech company Engine B, has a firm view on what artificial intelligence (AI) is likely to mean for accounting and finance in the coming years.… Read More »How finance can start to use AI automation

One year after Silicon Valley Bank’s implosion, the venture debt market has yet to crown a new king. When the bank, which held accounts for almost 50% of VC-backed tech and life science companies in… Read More »One year after SVB, the throne sits empty

After several days of debate and discussion, the US House of Representatives has approved the legislation, the Expanding Access to Capital Act (HR 2799). The bill was sponsored by Representative Patrick McHenry, the Chairman of the House Financial Services Committee,… Read More »House of Representatives Approves Expanding Access to Capital Act, Legislation Sponsored by Patrick McHenry that Aims to Boost Entrepreneurs, Improve Funding

Strong U.S. growth is prompting investors to scoop up a broader set of stocks, rather than just the handful of giant technology companies that drove indexes to record heights. With heavyweights including Apple and Tesla sinking this year, a… Read More »It Isn’t Just Big Tech Propelling Gains in the Stock Market Anymore

Eight months after raising interest rates to a two-decade high, Federal Reserve Chair Jerome Powell and his colleagues are moving closer to dialing back their inflation fight. In congressional testimony last week, Powell emphasized the… Read More »Fed Officials to Signal Interest Rate Cuts Are Getting Closer

President Biden in his State of the Union address Thursday laid out broad new policy goals for a second term, with aims to use tax hikes on major corporations and the wealthy to make new investments… Read More »The child tax credit debate is a preview of next year’s big tax fights

KEY POINTS Federal Reserve Chair Jerome Powell on Thursday indicated that interest rate cuts may not be too far off if inflation signals cooperate. In remarks to the Senate Banking Committee, the central bank leader… Read More »Powell says the Fed is ‘not far’ from the point of cutting interest rates

Big technology stocks jumped Thursday and powered the S&P 500 to a fresh high, its 16th for the year.  The benchmark index rose 1%. The tech-heavy Nasdaq Composite leapt past its peers and added 1.5%.… Read More »S&P 500 Hits New Record Ahead of Jobs Data

President Joe Biden sought to breathe new life into his reelection rematch against Donald Trump, delivering a spirited and sharply political State of the Union speech that sparred with Republicans and targeted an opponent he didn’t ever name.… Read More »Biden Jump-Starts 2024 Race in State of the Union Aimed at Trump

As winter fades into the spring, optimism is on the rise — 43% of finance executives share a sunnier outlook on the U.S. economy, according to the latest quarterly survey released by AICPA & CIMA.… Read More »Economic optimism, hiring plans rise despite continued concern about inflation

The Consumer Financial Protection Bureau (CFPB) has finalized a rule that limits the typical credit card late fee from $32, to $8. The rule, which was proposed in early 2022, closes a loophole exploited by large credit card issuers and… Read More »New ‘Junk Fee’ Rule Caps Credit Card Late Fees At $8

The SEC on Wednesday adopted a long-awaited rule for climate-related disclosures. The 3–2 vote by SEC commissioners to adopt The Enhancement and Standardization of Climate-Related Disclosures for Investors came nearly two years after the rule was proposed… Read More »SEC adopts climate-related disclosure rule

Analysts have upgraded their forecasts for the US economy this year, bolstering hopes of a soft landing and bets that the Federal Reserve will delay interest rate cuts until the summer. Strong growth in the… Read More »Strong US economy brings bets that Federal Reserve will wait on interest rate cuts

(Reuters) – U.S. Federal Reserve Chair Jerome Powell, avoiding disputes over fiscal policy, energy, housing, Ukraine and other tangled issues, told U.S. lawmakers on Wednesday he and his colleagues would “keep our heads down” in a charged… Read More »Fed’s Powell still expects rate cuts, but inflation progress “not assured”

The sharp rally in US stocks this year has left strategists at JPMorgan Chase & Co. and Goldman Sachs Group Inc. divided about whether a market bubble is forming. To JPMorgan’s chief market strategist Marko… Read More »JPMorgan Sees ‘Froth’ in US Stocks, While Goldman Says Rally Justified

Federal Reserve Bank of Atlanta President Raphael Bostic said he expects the Fed’s first interest-rate cut, which he has penciled in for the third quarter, will be followed by a pause the following meeting to… Read More »Bostic Sees Fed Pausing After Just One Rate Cut in Third Quarter

A federal district court in Alabama held that the Corporate Transparency Act (CTA), P.L. 116-283, which requires the reporting of beneficial ownership information (BOI) by businesses, is unconstitutional. The district court granted the plaintiffs’ motion… Read More »Federal court holds Corporate Transparency Act unconstitutional

Sens. John Hickenlooper, D-Colo., and Tom Tillis, R-N.C., introduced Thursday the Improving Disclosure for Investors Act of 2024, requiring the Securities and Exchange Commission to write a rule allowing financial firms to deliver their documents in digital format.… Read More »Senators Introduce E-Delivery Bill

The Nasdaq Composite closed at a record high Thursday for the first time since 2021. The tech-heavy index rose 0.9%, snapping a streak of 569 trading days without a new high. The S&P 500 advanced… Read More »Nasdaq Closes at Record High

Three Federal Reserve officials said the pace of interest-rate cuts will depend on incoming economic data, suggesting the path to lower borrowing costs may look different than in previous rate-cutting cycles. Boston Fed President Susan… Read More »Fed Officials Emphasize Data to Guide Pace of Interest-Rate Cuts

Over 125,000 high-income people who have not filed federal tax returns since 2017 will be mailed letters advising that they must file returns or explain why they don’t need to file a return, the IRS… Read More »IRS renews focus on targeting high-income nonfilers

Retirements are getting longer because people are living longer. Life expectancy is up across the globe. And that’s a great achievement for society. The challenge is that many people cannot fund that extended time in… Read More »Three Steps Help Ensure Your Money Lasts in Retirement

The simplified employee plan–individual retirement account (SEP-IRA) has long been the star option for sole proprietors seeking to reduce income taxes and save for retirement beyond the lower contribution limits of traditional individual retirement arrangements… Read More »Helping sole proprietors choose between a solo 401(k) and a SEP-IRA

(Bloomberg) — The US economy expanded at a slightly slower rate at the end of last year as a downward revision to inventories masked stronger household spending and investment.  Gross domestic product rose at a… Read More »US GDP Revised Slightly Lower Despite Stronger Consumer Spending

The U.S. Federal Reserve is likely to cut interest rates in 2024. But recent strong jobs numbers and potentially discouraging inflation data might delay any rate cuts until the summer. That’s based on market expectations, where an… Read More »How Stalling Inflation Data May Concern The Fed And Affect Rate Cuts

In 2024, AI is shaping the business world at an unprecedented scale, promising to boost productivity and take operations to a new level. However, with the proliferation of new tools, it can be hard for… Read More »5 AI Hacks You Need to Know About in 2024

Executive leaders are just like everyone else — aiming to stay current with today’s ever-changing workplace. Keeping up with new technology is the top personal challenge for C-suite executives, followed closely by balancing career and… Read More »C-suite goal: Keep up with new technology

Washington (CNN) — A public feeding frenzy over artificial intelligence may encourage some companies to make hyped-up claims about their use of AI or what the technology can deliver — but they do so at their… Read More »Beware misleading AI hype and ‘AI-washing,’ SEC chair warns

US stocks soared on Thursday, breaching record highs, powered by blockbuster earnings from AI darling Nvidia (NVDA). The tech-heavy Nasdaq (^IXIC) shot up nearly 3% on the heels of the chipmaker’s results, while the S&P 500 (^GSPC)… Read More »Stock market today: S&P, Dow hit record highs as Nvidia ignites global stock rally

Financial surprises often seem to crop up at the most inopportune times — your car breaks down, you have an unexpected medical bill, your air conditioner needs to be replaced. All of these situations, paired… Read More »Nine Steps You Can Take Right Now to Build a More Financially Stable Future

More Federal Reserve officials signaled concern at their meeting last month with cutting interest rates too soon and allowing price pressures to grow entrenched as opposed to the risks of holding rates too high for… Read More »Fed Minutes Show Unease Over Premature Cuts

The last time the American economy was posting surprising economic growth numbers amid rapid wage gains and moderating inflation, Ace of Base and All-4-One topped the Billboard charts and denim overalls were in vogue. Thirty… Read More »Are We in a Productivity Boom? For Clues, Look to 1994.