Stock futures are flat after S&P 500 notches third straight week of gains
Traders on the floor of the NYSE, March 25, 2022. Source: NYSE U.S. stock index futures were flat during overnight trading Sunday, after the S&P 500 posted a third straight week of gains. Futures contracts tied to the Dow Jones...
As Wall Street banks embrace crypto, high-flying start-ups look to lure top finance talent
Wall Street has been beefing up hiring for digital asset teams. But some employees are walking away from name-brand institutions in search of more risk, and potentially, more reward. JPMorgan Chase, Morgan Stanley and Goldman Sachs are among the firms...
Economy added 431,000 jobs in March despite worries over slowing growth
Amid soaring inflation and worries about a looming recession, the U.S. economy added slightly fewer jobs than expected in March as the labor market grew increasingly tighter. Nonfarm payrolls expanded by 431,000 for the month, while the unemployment rate was...
As the pandemic enters its 3rd year, more Chinese people say they’d rather save than spend
While mainland China faced its worst wave of Covid-19 since the initial shock of the pandemic, a central bank survey found more Chinese wanted to save money than spend or invest it. Costfoto | Future Publishing | Getty Images BEIJING...
Mortgage rate soars closer to 5% in its second huge jump this week
The rate for the most common kind of mortgage just surged again. The average rate on the 30-year fixed mortgage shot significantly higher Friday, rising 24 basis points to 4.95%, according to Mortgage News Daily. It is now 164 basis...
Vanguard reclaims top target-date fund manager spot, leapfrogs Fidelity and BlackRock
Until 2020, Vanguard had collected the most new investor money in target-date funds each year since 2008, according to Morningstar.
Pending home sales sink in February, setting a grim tone as housing market enters key spring season
A home with a sign indicating that it is under contract to be sold is seen in a neighborhood of downtown Washington. Jim Bourg | Reuters In a grim sign for the housing market’s busiest season, pending home sales, which...
The second Cold War is already beginning, experts say, and many of the battles are being fought with economic weapons
Just 60 years ago, the U.S. and the Soviet Union were at the height of a Cold War that nearly resulted in nuclear warfare. Today, experts say, the U.S. and its old foe, now Russia, are headed into another one....
Mortgage refinance demand plunges 14%, as interest rates spike higher
Fast-rising mortgage rates are causing a drop in mortgage demand, especially refinances.
Mortgage rates are surging faster than expected, prompting economists to lower their home sales forecasts
A home is offered for sale on January 20, 2022 in Chicago, Illinois. Scott Olson | Getty Images The average rate on the popular 30-year fixed mortgage hit 4.72% on Tuesday, moving 26 basis points higher since just Friday, according...