CPA decision-makers’ optimism about their own organizations and the U.S. economy has been unsteady the last three years — cruising up and down and hitting a historic low in the fourth quarter of 2022. After… Read More »Inflation no longer the top challenge for CPA decision-makers, survey shows
US corporate profits are on the rise again following four straight quarters of declines, according to government data out Wednesday. After-tax profits for nonfinancial firms rose 4.5% in the second quarter, a Bureau of Economic Analysis report on… Read More »US Corporate Profits Rise Again With Recession Fear Fading
Minneapolis (CNN) — US inflation may have remained elevated in July, but consumers just wanted to have some fun. New Commerce Department data released Thursday showed that consumer spending jumped 0.8% last month as shoppers shelled out for… Read More »The Fed’s preferred inflation measure stayed high in July — and consumers are continuing to spend
The chances of the dollar adding to its nearly 3.5% advance since mid-July depend more on the fate of economic growth in China rather than changes to interest rates from the Federal Reserve, according to… Read More »Dollar Stamina Hinges More on China Than Fed, Bank of America Says
U.S. stocks rose for a third consecutive session, cutting into major indexes’ August losses as shares from technology to industrials and financials advanced. The S&P 500 notched its largest three-day gain since March, paring its decline this… Read More »Broad Rally Pushes Stock Indexes Higher
Long-awaited proposed regulations for digital asset reporting under Sec. 6045 would require brokers to report sales and exchanges of digital assets to the IRS and customers as part of Treasury’s broader effort to close the… Read More »Prop. regs. require brokers to report digital asset sales and exchanges
Major U.S. stock indexes kicked off the week with gains, rising for a second consecutive session and recouping some losses from the summer stock-market slide. The gains were broad-based, with 10 of the S&P 500’s… Read More »U.S. Stocks Advance for Second Consecutive Session
Index Erases Early Summer Gains, as Hot Labor Market Cools and High Interest Rates Bite The Conference Board Consumer Confidence Index® declined in August to 106.1 (1985=100), from a downwardly revised 114.0 in July. The Present Situation… Read More »US Consumer Confidence Pulled Back in August
Stocks blasted higher in afternoon trading Friday, even after Federal Reserve Chair Powell warned in comments in Jackson Hole, Wyoming, that central bank officials were “prepared to raise rates further.” Traders appeared to shake off… Read More »Markets soar higher as investors digest Powell’s message
KEY POINTS Earning a good salary is one thing, feeling “rich” is another. Even doctors, lawyers and other highly paid professionals — also referred to as the “regular rich” — who benefit from stable jobs, homeownership and… Read More »Even millionaires are feeling financially insecure, report finds