Economy & Markets
The important economic and stock market news that advisors need to know.
Biden, McCarthy Forge Debt Deal in Bid to Avert Default
By Josh Wingrove, Jennifer Jacobs & Erik WassonThe deal would clawback funding for IRS agents and speed up some energy project environmental reviews, according to a GOP summary.
May 26, 2023
Wellington Cuts 5% of WorkforceThe news comes four months after industry giant BlackRock said it would trim 500 jobs, representing about 2.5% of its workforce.
May 26, 2023
Cathie Wood's ARKK Dumped Nvidia Stock Before $560B SurgeNvidia "has been very good to her. She was into the stock before it was cool," said ETF analyst Eric Balchunas of Bloomberg Intelligence.
May 26, 2023
Emerging U.S. Debt Deal Would Raise Limit, Cap Spending for 2 YearsThe tentative deal would cut $10 billion from the $80 billion IRS budget increase and would upgrade the electric grid.
May 25, 2023
Americans Are Stuck on a Retirement Readiness RollercoasterRetirement holdings have increased by 2% since late 2019 as prices rose more than 16%.
May 25, 2023
Investing for Recession? 'No Need to Get Fancy': Christine BenzThe Morningstar columnist discusses picking a stable bond investment and a big risk of holding cash.
May 25, 2023
10 Good, Cheap Growth Stocks for Long-Term Investors: MorningstarThese companies have solid management and cash flows and are trading below fair value, according to analysts.
May 25, 2023
Could $25B in Social Security Payments Force a Debt-Limit Deal?On June 2, millions of Americans are due to get these benefit payments, which may help end the partisan standoff over raising the federal debt limit.