The Nasdaq 100 Index surged into a new bull market Wednesday for the first time in nearly three years as traders pile into technology stocks and angst around the recent bank turbulence eases. The tech-heavy gauge finished trading up more than 20% from its Dec. 28 closing low, powered by big rallies in megacaps Apple… Read More »Nasdaq 100 Enters Bull Market as Bank Jitters Ease, Tech Rallies
Reconciling previously contradictory results, researchers from Penn and Princeton find a steady association between larger incomes and greater happiness for most people but a rise and plateau for an unhappy minority. Are people who earn more money happier in daily life? Though it seems like a straightforward question, research had previously returned contradictory findings, leaving… Read More »Does more money correlate with greater happiness?
Sometimes individuals submit applications for Social Security retirement benefits but then have a change of heart. Perhaps they retired or perhaps they were laid off, but now a new opportunity has presented itself and they want to rejoin the workforce. Or perhaps they find retirement too boring and figure they might as well return to… Read More »How to reverse course on collecting Social Security
KEY POINTS It’s getting harder to keep up with higher prices. As of February, 62% of all U.S. adults were living paycheck to paycheck, up from 60% a month earlier, according to a new LendingClub report. To make ends meet, more people have picked up a side hustle, the report also found. As pandemic-related benefits are… Read More »With 62% of Americans living paycheck to paycheck amid inflation, more people have a side job
FASB on Monday released an amendment to an Accounting Standards Update designed to improve leases guidance on related party arrangements between entities under common control. The amended ASU No. 2016-02, Leases (Topic 842) was released after a post-implementation review of the ASU revealed concerns from stakeholders related to successfully applying the topic. Last November, FASB issued an exposure draft… Read More »FASB issues update to leases guidance
KEY POINTS With the tax deadline approaching, the IRS has issued roughly 54 million refunds worth about $158 billion as of March 17, the agency reported Friday. In January, the IRS warned filers that refunds could be “somewhat lower,” and, so far, that prediction has been accurate for many filers. Indeed, the average refund payment was $2,933 compared… Read More »The IRS has issued nearly 54 million tax refunds. Here’s the average payment
Global financial markets are poised for another week of volatility, as traders close out a dizzying month in which worries about US and European lenders dominated sentiment and complicated central banks’ fight against inflation. The Japanese yen and Swiss franc edged higher against the dollar as the trading week got underway in early Sydney. Traders focused on… Read More »Investors Brace for Another Week of Volatility as Mad March Ends
First Citizens has agreed to buy a $72 billion chunk of Silicon Valley Bridge Bank, the California lender formerly known as Silicon Valley Bank that was taken over by the FDIC two weeks ago after depositors, in a crisis of confidence, made a run on it. SVB served as the lifeblood to thousands of startups before its collapse, the… Read More »First Citizens is acquiring $72B in deposits and loans from Silicon Valley Bridge Bank
KEY POINTS When you’re on a tight budget, It can be tough to decide between contributing to your retirement savings or to your emergency fund — especially during periods of economic uncertainty. And the banking crisis has added to fears of a recession, with further stock market volatility triggered by the collapses of Silicon Valley Bank and Signature Bank. Although the… Read More »Retirement vs. emergency savings: How to prioritize in a shaky economy
(Reuters) – Bank of America and UBS trimmed their terminal rate expectations on Thursday after the U.S. Federal Reserve hinted that it might pause its rate-hike campaign due to the turmoil in the banking sector. The Fed’s benchmark rate stood in the range of 4.75-5% following a quarter percentage point hike on Wednesday. While the Fed’s… Read More »BofA, UBS trim forecast for Fed funds rate amid banking crisis