Izusek | E+ | Getty Images Consumers are funneling money into annuities as the stock market tanks and higher interest rates raise payouts for buyers. Annuity sales in the third quarter of 2022 approached $80 billion, just edging out the $79.4 billion record set in Q2, according to estimates published by Limra, an insurance industry
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PeopleImages Federal regulators on Wednesday adopted rule changes intended to make it easier for consumers to understand what they’re invested in and how much it’s costing them. Under amendments approved by the Securities and Exchange Commission, investment company ads will need to promote “transparent and balanced presentations” of fees and expenses. Additionally, shareholder reports from
Traders on the floor of the NYSE, Oct. 21, 2022. Source: NYSE Professional stock pickers are still betting that the U.S. economy could skirt a recession, according to Bank of America analysis. Actively managed mutual funds have maintained their pro-cyclical stance with overweights in consumer discretionary and industrials, while having a sizeable underweight in consumer staples,
Leopatrizi | E+ | Getty Images Becoming a homeowner can be challenging enough under good circumstances. Add in higher mortgage rates, elevated home prices and unrelenting high inflation — i.e., the current home-buying environment — and it may feel decidedly unattainable. The average rate on a 30-year fixed-rate mortgage has been trending above 7% for
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In this article WBD Follow your favorite stocksCREATE FREE ACCOUNT Chris Licht, Chairman and CEO of CNN Worldwide. Courtesy: CNN CNN CEO Chris Licht started conducting a business review of the news network when he agreed to take the job in April. That evaluation wrapped up last week, according to people familiar with the matter,
In this article .BBKA Follow your favorite stocksCREATE FREE ACCOUNT Deutsche Bank on Wednesday crushed market expectations for the third quarter, amid higher interest rates and turbulent market trading. The bank reported a net income of 1.115 billion euros ($1.11 billion) for the quarter. Analysts had predicted a net profit of 827 million euros, according
David Solomon, CEO, Goldman Sachs, speaking at the World Economic Forum in Davos, Switzerland, Jan. 23, 2020. Adam Galacia | CNBC Goldman Sachs CEO David Solomon and JPMorgan CEO Jamie Dimon both expect a U.S. recession as a tight labor market keeps the Federal Reserve on an aggressive monetary policy tightening trajectory. Speaking on a
Michael M. Santiago | Getty Images A monthly gauge of what could lie ahead for the U.S. economy is flashing a recession warning sign. The Leading Economic Index dipped by 0.4% in September from August and is down 2.8% since March, according to the Conference Board, an independent group that publishes the index. The latest
A house’s real estate for sale sign is seen in front of a home in Arlington, Virginia, November 19, 2020. Saul Loeb | AFP | Getty Images Mortgage demand fell last week to nearly half what it was a year ago, according to the Mortgage Bankers Association, as rates hit their highest level in 21
In this article WBD Follow your favorite stocksCREATE FREE ACCOUNT Peter Safran, left, and James Gunn Getty Images James Gunn and Peter Safran will be the next co-heads of Warner Bros. Discovery‘s DC Comics film and TV unit, the company announced Tuesday. Their appointments will be effective Nov. 1. The news comes during a tumultuous
In this article GOOGL Follow your favorite stocksCREATE FREE ACCOUNT Alphabet shares dropped about 7% in extended trading on Tuesday after the company reported weaker-than-expected earnings and revenue for the third quarter and said it would significantly decrease headcount growth. Earnings per share (EPS): $1.06 vs. $1.25 expected, according to Refinitiv estimates. Revenue: $69.09 billion
The logo of Alphabet Inc’s Google outside the company’s office in Beijing, China, August 8, 2018. Thomas Peter | Reuters Check out the companies making headlines after hours. Alphabet — The search engine parent dropped 5.8% after Alphabet missed third-quarter earnings expectations, and reported a decline in YouTube ad revenue. Alphabet earned $1.06 per share
Insta_photos | Istock | Getty Images If you’re eager to secure 9.62% annual interest for Series I bonds for six months, the deadline is quickly approaching. You must purchase I bonds and receive your confirmation email by Oct. 28 to lock in the record 9.62% rate, according to TreasuryDirect. The rate is expected to drop
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In this article BA AIR-FR Follow your favorite stocksCREATE FREE ACCOUNT The first U.S.-made Airbus jetliner moves down the assembly line at the company’s factory in Mobile, Alabama, U.S. on September 13, 2015. Picture taken on September 13, 2015. Alwyn Scott | Reuters Air travel demand is showing no sign of easing, airline executives said
In this article MSFT Follow your favorite stocksCREATE FREE ACCOUNT Microsoft CEO Satya Nadella gestures during a session at the World Economic Forum annual meeting in Davos on May 24, 2022. Fabrice Coffrini | AFP | Getty Images Microsoft will report fiscal first-quarter results after market close on Tuesday. Here’s what analysts are expecting: Earnings:
In this article LOG.N-CH LOGI UPST STEM HIBB Follow your favorite stocksCREATE FREE ACCOUNT Tony Avelar | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Logitech — The computer peripherals maker jumped 11.8% after Logitech reiterated its full-year guidance, which was lowered in July. Logitech has struggled with weaker demand