• Stock Market Today: Encouraging Inflation Data Sparks Stunning Stock Rally

    The latest inflation data catapulted stocks higher out of the gate on Wednesday, with the major market indexes rallying hard into the close. Ahead of this morning's opening bell, the Labor Department said its consumer price index (CPI) rose 8.5% year-over-year in July, down from June's reading of 9.1%. Core CPI, which excludes food and energy prices, increased 5.9% over the year-ago period. On a month-to-month basis, CPI was flat, while the core consumer price index was up 0.3%. SEE MORE The...

  • Has Inflation Peaked? Here's What the Experts Are Saying

    One month does not make a trend, but inflation did indeed moderate in July. The consumer price index rose 8.5% year-over-year – after jumping a scorching 9.1% in June – and was unchanged on a month-to-month basis. Core CPI, which strips out volatile food and energy components, rose 5.9% from a year ago and just 0.3% vs. June. SEE MORE The 11 Most Expensive Cities in the U.S. Both the headline and core inflation readings came in blessedly below forecast. But although the data offer a welcome...

  • IRA Bill a Blessing in Disguise for Drug Stocks?

    At first glance, the measures to curb drug price increases in the Inflation Reduction Act seem like negatives for pharma and biotech stocks. If passed, as expected, Medicare would be allowed to negotiate the price it pays for a limited number of drugs. Beginning in 2026, up to 10 of Medicare’s highest-cost drugs would be included in negotiations, rising to the top 20 by 2029. In 2025, an annual $2,000 cap would be introduced on Medicare beneficiaries’ out-of-pocket prescription drug costs. But...

  • How to Beef Up Your Portfolio Against Inflation

    “The deceleration in the consumer price index for July is likely a big relief for the Federal Reserve,” says Nancy Davis, portfolio manager of the Quadratic Interest Rate Volatility and Inflation Hedge ETF (IVOL). “If we continue to see declining inflation prints, the Federal Reserve may start to slow the pace of monetary tightening.” Still, with consumer prices running hot, investors should continue to protect their portfolios against inflation. This includes gaining exposure to companies...

  • A Bit of Inflation Relief in July

    Consumer prices were unchanged, on average, in July because of a large drop in gasoline prices and a smaller decline in natural gas from the previous month. While lower prices at the gas pump are a welcome respite for drivers, prices still rose strongly for basics like food, rent and new vehicles. The annual inflation rate edged down to 8.5% from 9.1% in June. There were a few breaks in the relentless pace of price increases. Appliance prices are coming down, along with sporting goods, men’s...

  • Job-Hunting Tips for an Uncertain Marketplace

    The pandemic buzz around the Great Resignation is still going strong. Employees are still quitting their jobs or switching jobs with the hopes of gaining bigger paychecks, new responsibilities or better conditions. According to the Bureau of Labor Statistics, 528,000 jobs were added in July, robust hiring across industries. But recession fears have led some companies – tech firms in particular – to conduct layoffs or freeze hiring or conduct layoffs, sometimes leaving new hires out in the co....

  • Amazon Layaway: A New Perk of Amazon Prime

    If you’re old enough to have parents who bought items on layaway (or did it yourself), you’ll understand Amazon’s latest perk for Amazon Prime: Amazon Layaway. SEE MORE Amazon Ending a Key Perk for Amazon Prime Customers It’s available now, mostly pitched to back-to-school shopping, but many remember layaway generally as a department store holiday staple in the decades following World War II. The idea was – and is – this: You’d reserve big purchases like Christmas toys for the kids well ahead...

  • Inflation Reduction Act Would Boost Obamacare Tax Credit

    Despite its name, the Inflation Reduction Act's main goals are really to address climate change and lower healthcare costs. One of the ways healthcare costs would be reduced under the bill is by extending enhancements to the premium tax credit that were put in place for 2021 and 2022. If the bill gets through Congress and becomes law, not only will more people qualify for the premium tax credit for three more years, but many of them will also get a larger credit during that time. Premium Tax...

  • Answers to Frequently Asked Social Security Disability Questions

    In this post-COVID era and period of long COVID health complications, many Americans have become increasingly aware that they could become the victim of a life-threatening illness, injury or disability that makes it impossible for them to work and support their families. This has sparked new attention toward the intricacies of the Social Security Disability Insurance (SSDI) process and its many requirements for approval. SEE MORE 3 Ways You’re Just Plain Wrong about SSDI Benefits American...

  • Stock Market Today: S&P, Nasdaq Extend Losing Streaks on Micron Demand Woes

    The latest batch of corporate earnings updates sparked a selloff in stocks on Tuesday, with the tech-heavy Nasdaq leading the path lower. Travel stocks were hit particularly hard after Norwegian Cruise Lines (NCLH) reported its second-quarter results. For the three-month period, the cruise operator brought in revenue of $1.2 billion and recorded a per-share loss of $1.14, missing analysts' consensus estimates. And in the company's earnings call, CEO Frank Del Rio said that bookings in the...

  • Earn More with a CD Ladder

    Savers are finally getting some good news: Interest rates on savings and money market accounts are climbing. For example, the rate on American Express’s high-yield savings account jumped from 0.6% to 1.0% in a span of two months. SEE MORE Fight Inflation with Series I Bonds Certificates of deposit haven’t been left out of the rising-rate tide, and they’re moving up faster than the rates for some online savings accounts. CD Ladders Offer Flexibility With a CD, you agree to keep your money in...

  • The 11 Most Expensive Cities in the U.S.

    The most expensive U.S. cities are costly for a good reason – several, really. Residents are willing to pay extra for everything from housing to food to gas if it allows them to live someplace with great weather. Others are looking for cosmopolitan living, with a host of restaurants, museums and other cultural options on tap. However, in some cases, simple isolation plays a leading role. When pretty much everything has to be imported over long supply lines, prices are bound to be higher. SEE...