Financial advisors who beat the save-early-and-often drum might want to stifle their agonized groans. To that point, 59 percent of investors ages 18 to 34 say they already have taken money from their retirement account, according to recent research by E-Trade Financial. That figure has been growing steadily since 2015, when it was 31 percent.
President Donald Trump can’t blame Jerome Powell for a bad stock market now that the Federal Reserve chairman has appeared to walk back his comments on interest rate hikes, Wharton School finance professor Jeremy Siegel told CNBC on Friday. The pressure is on Trump “more than ever” to reach a trade agreement with China as
Minneapolis Federal Reserve President Neel Kashkari told CNBC on Friday that central bankers should not raise rates when job creation continues to be strong and inflation remains tame. At this point, the Fed should pause on rate increases, Kashkari said, adding that hiking too forcefully before necessary could risk causing a recession in the U.S.
Marriott International said on Friday the Starwood guest reservation database was breached, potentially exposing information on about 500 million guests. The company said its investigation showed that an unauthorized party had copied and encrypted information, and that it had taken steps towards removing it. This story is developing. Please check back for updates. Read the
The War of the Roses could continue indefinitely. And one key deadline could force couples to come to an agreement before the end of the year. Dec. 31, 2018 is the date by which couples need to get the terms of their divorce settled before the tax rules on alimony change, a result of the
DowDuPont Inc.: “I think you should buy more. I told people at a Deal Economy conference, a part of TheStreet.com, today that I think the breakup pain is over and the gain is about to start. Please, let’s not write off [CEO] Ed Breen. He’s done it before. He’s going to do it again. Three
Privately-held financial company SoFi isn’t one of the non-bank lenders Federal Reserve Chairman Jerome Powell called out as potential risks to the U.S. economy in his Wednesday speech, SoFi chief Anthony Noto told CNBC on Thursday. “We have really strong risk controls,” the CEO told Jim Cramer in an exclusive interview on “Mad Money.” “We
Tiffany’s stock dropped as much as 12 percent in premarket trading on Wednesday after releasing disappointing third-quarter sales that were hurt by weaker spending from Chinese tourists in the U.S. and Hong Kong. The luxury jewelry retailer’s earnings were in-line with estimates, but revenue of $1.01 billion was shy of the $1.05 billion estimate from
Now that the Federal Reserve has become slightly less hawkish on its interest rate plans, there’s one final issue that could hinder U.S. economic growth in 2019, CNBC’s Jim Cramer said: China. “Remember, if we’re going to avert a slowdown next year, we need the president to make some kind of deal with the Chinese,
For many consumers, the real magic of the holiday season is the sleight of hand it takes to hide overspending from their spouse. Almost half of Americans say their spouses or significant others do not know how much they spend during the holiday season, according to a new survey from Swagbucks.com, of 1,000 U.S. adults.
While I can’t give you any investment advice or help you ignore the current market conditions, I can teach you how to manage stress so that “volatile” describes the market and not your mindset. Emotions can help influence decision-making, but when it comes to considering investment decisions in a volatile market, getting stressed out may
If you’ve recently graduated and skated through half a year without too much thought about your student loan debt, it’s time to pay the piper. For federal loans, which make up the bulk of student debt, there is generally a six-month grace period after graduation that gives borrowers time to get on their feet before
Lemonade, a U.S. home and renters insurance start-up, is making Europe its first global expansion target. The New York-based firm uses artificial intelligence (AI) and chatbots to tailor insurance products for homeowners and tenants on its platform. In an announcement Thursday, the company said the move abroad will come “soon,” but did not specify what
Cloud storage provider Box reported a smaller-than-expected quarterly loss as it added more customers, and forecast full-year revenue estimates above analysts’ estimates. The company’s shares, which have fallen about 14 percent this year, rose 5 percent in extended trading. Box ended its third quarter with more than 90,000 paying customers, up from 87,000 in the
Morgan Stanley said it is “buying the McDonald’s of the future today” as the firm upgraded the fast food chain’s stock to overweight from equal weight on Thursday. “We are endorsing the notion that McDonald’s massive store modernization efforts, first rolled out in select international markets and now in the US (its single largest market),
In a perfect world, saving for retirement would be easy. That world assumes everyone makes an adequate salary, can afford all their necessities and a few frills, and feel comfortable setting aside some money for the future. Yet the reality is that retirement saving is not easy for everyone. Lower income and debt, whether from
Even though anti-competitive mergers tend to be bad for customers, they tend to stack the odds in Wall Street’s favor, CNBC’s Jim Cramer said Wednesday. “I love the stocks of companies that have somehow found a way to legally give themselves a seemingly unfair advantage. That’s the best kind of advantage,” the “Mad Money” host
The stock market is headed higher but investors should make some changes in their portfolios to accommodate shifts in the landscape, Credit Suisse chief equity strategist Jonathan Golub told CNBC on Wednesday. “You don’t want to be in cyclical stocks going into next year, because I think the economy is going to be weaker,” he
Acadia Pharmaceuticals Inc.: “We keep getting asked about this one. It’s amazing how much people want to buy this stock. That was up $3 today. It’s central nervous system. It’s really hard. That’s a very difficult area. People have not had a lot of success there, but it’s a spec that people like and I’m
With more people applying for mortgages online, the lending landscape was expected to become more equitable. The logic was that lenders couldn’t discriminate against a borrower based on their skin color if they weren’t face-to-face with them. Yet algorithms can be just as biased as a loan officer sitting across a desk, according to a
One Wall Street firm is concerned that rising washing machine prices as a result of the Trump administration’s tariffs are weighing on Whirlpool’s unit sales. Credit Suisse downgraded the home appliance manufacturer to neutral from outperform on Wednesday, citing a decline in shipments as reported by an industry trade organization. While manufacturers have marked up
Global wage growth fell to its lowest in almost a decade last year, with the U.K. seeing weaker wage growth than any other advanced G-20 nation. Published Monday, the International Labour Organization (ILO)’s Global Wage Report found that international wage growth saw a 0.6 percent decline in 2017, based on data from 136 countries. Since
Relations between China and the U.S. have the potential derail global economic growth, but the ongoing tariff fight is a political matter between U.S. President Donald Trump and Chinese President Xi Jinping, said a major Chinese private equity fund company. Despite trade tensions between the two economic giants, there are plenty of reasons for them
Salesforce.com is in peak performance mode as companies shift their operations to become more digital and cloud-reliant, the software giant’s Chairman, co-founder and co-CEO Marc Benioff told CNBC on Tuesday. “I don’t think the company’s ever been stronger or been in a better position, and the reason why is every company that we’re dealing with
European stocks opened higher Wednesday, as investors looked ahead to an all-important G-20 summit later this week. The pan-European Stoxx 600 was up around 0.46 percent shortly after the opening bell, with most sectors and major bourses in positive territory. As the latest G-20 summit draws closer, investors continue to closely monitor simmering tensions between
If you were planning on nabbing a deduction for your mortgage insurance or your college expenses, prepare to sit tight. That’s because these and other breaks that are known as the “tax extenders” are bundled into newly proposed legislation that’s likely going nowhere fast, according to policy experts. The House Ways and Means Committee proposed
After years of breaking down market moves for investors — often times at the risk of being wrong — CNBC’s Jim Cramer is taking a stand against market commentators who play it safe, but never really help the average stock-picker. “If I came out here every day and said it was the seventh inning of
Insight from retail experts and insiders ahead of the 2018 holiday shopping season including Former Saks CEO Steve Sadove; O: The Oprah Magazine Creative Director Adam Glassman; and CNBC’s Lauren Hirsch. Fortt Knox is a weekly podcast from CNBC anchor Jon Fortt . Previous episodes of the program can be found here.
Cryptocurrency enthusiasts have been eagerly awaiting the approval of what would be the first-ever bitcoin exchange-traded fund, or ETF. But the man largely behind greenlighting one — Securities and Exchange Commission Chairman Jay Clayton — has a few worries that need to be assuaged before he’s “comfortable” approving the investment vehicle. The first is a
Companies that don’t value trust as a top priority are going to have trouble keeping their customers moving forward, Salesforce.com chief Marc Benioff told CNBC’s Jim Cramer in a wide-ranging interview Tuesday. Asked on “Mad Money” whether a company like Facebook can redeem itself following its breach of consumer trust, Benioff said that the table