Month: September 2022

Some of the biggest telecommunications stocks just posted their steepest quarterly declines in two decades amid pressures both new and old on the cable and wireless industries. Shares of wireless companies AT&T Inc. T, -1.22% and Verizon Communications Inc. VZ, -1.73% lost 26.8% and 25.2%, respectively, during the third quarter. Those were the largest quarterly percentage declines since September 2002

Following a dramatic year of controversial rulings, the Supreme Court begins hearing new cases on Monday with a full agenda. The court overturned abortion rights and expanded gun rights in June as the new conservative supermajority began to exert its influence. Some of the court’s most important upcoming cases focus on the future of affirmative action, equal treatment of LGBTQ people, and the control of election laws. The court will

The dollar wrapped up its biggest quarterly climb in at least seven years on Friday, along with its largest four-month advance since November 2008 — the latest chapter in what has been a historic year for the greenback. The ICE U.S. Dollar Index DXY, -0.07%, a gauge of the currency’s strength against a basket of rivals including the euro EURUSD,

Stocks declined again on Friday, closing out September with large losses across the board as the rally from the June lows partway through August faded into memory. The S&P 500 SPX, -1.51% fell 1.5% on Friday. The benchmark index slumped 9.3% for September, leading to a 2022 loss of 24.8%. The Dow Jones Industrial Average DJIA, -1.71% gave up 1.7%

Nearly 2 million electricity customers across Florida remained without power Friday, a modest improvement from the day before as the state looks to recover from Category 4 Hurricane Ian, a storm tagged as one of the worst ever to hit that part of the U.S. In a Friday alert, there were 1,933,573 customers without power statewide, reflecting 17% of all

“‘And after first signaling her opposition to these reforms, the Speaker purportedly reversed her position. However, our bipartisan reform coalition was then subjected to repeated delay tactics, hand-waving gestures, and blatant instances of Lucy pulling the football.’” — Democratic Rep. Abigail Spanberger of Virginia Those lines above came Friday in a news release from Democratic Rep. Abigail Spanberger, as she

Oil prices notched their fourth monthly loss in a row, leading to speculation that major oil producers next week will make a fresh move to set a floor under prices — cutting production for a second consecutive month. The Organization of the Petroleum Exporting Countries and their allies, together known as OPEC+, will hold their monthly meeting on Oct. 5. 

Micron Technology Inc. is dealing with an “unprecedented” oversupply problem, but whether it gets worse or better in the near-term is up for debate. Micron MU, +0.18% shares rose Friday despite offering a fiscal first-quarter forecast Thursday afternoon that analysts universally agreed was not good for the memory-chip specialist. However, analysts had different ideas about when the glut in the

Most financial planners advise young people to start saving early — and often — for retirement so they can take advantage of the so-called eighth wonder of the world – the power of compound interest. And many advisers routinely urge those entering the workforce to contribute to their 401(k), especially when their employer is matching some portion of the amount

Not everyone is built to be their own money manager, which is why many investors choose a more hands-off approach that we in the financial industry call passive investing. But don’t let the name fool you—taking a passive investing approach doesn’t mean being passive about your financial future. Instead, it refers to a specific strategy where, rather than trying to

Retirees and near-retirees have known for some time that the famed 4% rule needs to be revised downwards. But by how much? Would you believe 1.9%? That’s the conclusion of new research that replicates the original research that led to the 4%, but with more realistic assumptions about our life expectancies and a more comprehensive historical data set. The implications

Is pickleball becoming the new national pastime? The sport, often described as a combination of tennis and ping-pong, has been surging in popularity. Nearly 4.2 million Americans played the game in 2020, the Sports & Fitness Industry Association reports, which was an increase of 21.3% over the prior year alone. Consider this: NBA greats LeBron James, Draymond Green and Kevin

Altria Group Inc. said Friday it has taken a step that extricates it from its noncompete arrangement with vaping company Juul Labs Inc., freeing both companies to pursue their own strategies. In a regulatory filing, the tobacco giant MO, -1.87% said it has exercised an option to be released from noncompetition obligations relating to its stake in Juul. The option

While September has lived up to its reputation as a brutal month for stocks, October tends to be a “bear-market killer”, known for its historically strong returns especially during midterm election years. Skeptics, however, are warning investors that negative economic fundamentals could overwhelm seasonal trends as what’s traditionally the roughest period for equities comes to an end. The S&P 500 SPX,

Federal bank regulators continue to signal they’re on a path to update bank-merger guidelines that have been in place since 1995 in light of how the competitive marketplace has changed over the years. Rules about bank concentration remain a “big part of the conversation” around updating the Fed’s merger guidelines, which has been a prominent topic in recent speeches by

This week Freddie Mac said the average interest rate on a 30-year mortgage loan in the U.S. had climbed to 6.70% from 6.29% the week before and 6.02% two weeks ago. The average rate a year ago was 3.01%. Would-be sellers who have low-rate mortgage loans are reluctant if it means they need to take out a new loan to

Oil futures declined Friday, pressured by worries surrounding the demand outlook, with aggressive monetary tightening by central banks raising the risk of a recession. Oil was also on track to post sharp declines for the month and the quarter, with a surge in the U.S. dollar contributing to those losses, but prices held onto a gain for the week, buoyed