Sector Update: Financial Stocks Advance Late Afternoon
Sector Update: Financial Stocks Advance Late Afternoon
Sector Update: Financial Stocks Advance Late Afternoon
A deep dive into what's moving markets and happening across the global economy.
The latest data from the University of Michigan Consumer Sentiment Index has revealed a positive shift in consumer confidence, a key indicator of economic health. The index, which...
On today's episode of Wealth!, Host Alexandra Canal breaks down key personal finance tips, from balancing your portfolio to preparing to file your taxes. Matt Powers, Powers Advisory Group managing partner, discusses how to best position your portfolio in a rate-easing cycle and an election year. In a lower interest rate environment, Powers focuses on traditional defensive sectors like utilities (XLU), consumer staples XLP (XLP), and financials XLF (XLF), noting that “we still expect some short-term volatility as we enter October, which is historically the most volatile month of the year in election years.” As mortgage rates hit a two-year low, Yahoo Finance's Dani Romero breaks down what it means for potential homebuyers as they navigate the housing market. Meanwhile, Danielle Hale, Realtor.com's chief economist, breaks down the pros and cons between buying now and waiting. "Now we're at that seasonal slowdown sweet spot for buyers. So there's less competition which can make it easier to snag a deal on a home. At the same time, you might see lower rates if you wait into the spring. But you might have to offset those lower rates with more competition and better prices. You know, in essence, I don't think buyers can go wrong either way," she tells Yahoo Finance. In August, LegalShield's Consumer Stress Legal Index ticked up to its highest level since November 2020. In presidential battleground states, stress rose even more, and historically, that elevated battleground stress during October and November has resulted in a Republican White House win. LegalShield SVP of Consumer Analytics Matt Layton explains, "Our index is really made up of three different subindices: The bankruptcy index, foreclosure index, and a consumer finance index. Each of those three individuals are also increasing over the last several months. But when we speak to our lawyers, we hear issues like job security, layoffs — folks are concerned about their jobs. They don't have enough money at the end of the month to pay their bills." If you received a tax extension in April, the due date is October 15 — just over two weeks away. Tom O’Saben, National Association of Tax Professionals director of tax content, notes that it is crucial to pay your taxes on time to avoid any penalties, which could be as much as 5% per month. In addition, failure to pay the penalty could end up being as much as 25% of the tax itself. He warns that the statute of limitations for the IRS to audit a return is unlimited for returns that aren't filed, compared to the normal three-year window. If you don't have the ability to pay your taxes in full, O’Saben explains that the IRS offers both short-term and long-term payment plans. This post was written by Melanie Riehl
The Core Personal Consumption Expenditure (PCE) Price Index, a key indicator of inflation trends and consumer purchasing changes, has reported a slight decrease in its latest data...
Japan is set to get a new leader and the market seems to be betting he will be hawkish on monetary policy as the yen strengthened sharply. Shigeru Ishiba narrowly won a vote in the ruling Liberal Democratic Party on Friday to become party leader, and the LDP-controlled parliament will meet Tuesday to elect him prime minister.
U.S. stock futures were pointing to slight losses early on Friday. American equity markets looked set to take a breather ahead of the release of the Federal Reserve’s preferred inflation gauge, despite continued gains in Chinese markets. S&P 500 futures were losing 0.1% and Nasdaq 100 futures were down 0.3%.
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After a brief dip this summer, semiconductor stocks are heating up again, as mainstays in the space like Micron (MU) post blowout earnings due to strong AI-related demand. The memory chip giant reported scorching 93.3% year-over-year revenue growth, and guided to record revenue of $8.7 billion for the upcoming quarter, well above analyst expectations. Micron’s results gave a jolt to the sector and illustrate that AI demand is still strong. Investors can achieve diversified exposure to the semico