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Millennial Money: Issuer closing your credit card? Act fast to preserve credit

NerdWallet It’s not uncommon for credit card issuers to close accounts. Sometimes they do so to lessen their risk when the economy is in distress, generally as a reaction to your spending activity — or lack thereof. After all, issuers make money from every tap or swipe, so inactive cards aren’t fruitful for them. “If you’re not paying an annual fee and you’re not using the card, you’re below the zero revenue line, you’re actually costing the card issuer money every month,” says John Ulzheimer, a credit expert formerly with FICO, a credit-scoring company, and ...

Wall Street rises to regain momentum after last week’s lull

NEW YORK (AP) — Stocks are climbing Monday as Wall Street regains momentum following a pause in its big rally for the year so far. The S&P 500 was 0.8% higher in late trading to recover about a third of its loss from last week. That was its first losing week in four and just its third in the last 12. The Dow Jones Industrial Average was up 404 points, or 1.2%, at 35,469, as of 3 p.m. Eastern time. The Nasdaq composite was 0.4% higher. Berkshire Hathaway rose 3.9% and was a major force lifting the market after the company run by famed investor Warren Buffett reported stronger ...

How major US stock indexes fared

Stocks closed higher as Wall Street regained momentum after its big rally for the year took a pause last week. The S&P 500 rose 0.9% Monday to recover more than a third of its loss from last week. That was its first losing week in the last four. The Dow added 407 points, or 1.2% and the Nasdaq rose 0.6%. Berkshire Hathaway rose after the company run by Warren Buffett reported stronger results than analysts expected. Besides profit reports from media giants like The Walt Disney Co. and Fox, this week will also offer some highly anticipated reports on inflation. On Monday: The S&P ...

Simon & Schuster purchased by private equity firm KKR

NEW YORK (AP) — Simon & Schuster has been sold to the private equity firm KKR, months after a federal judge blocked its purchase by rival publisher Penguin Random House because of concerns that competition would shrink in the book market. The private equity giant will buy Simon & Schuster for $1.62 billion in cash, said Paramount Global, the parent company of the storied book publisher. Simon & Schuster, where authors include Stephen King, Colleen Hoover and Bob Woodward, is one of the so-called “Big Five” of New York publishing, with others including Penguin Random House, ...

Elanco Animal Health rise; Gogo fall

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Monday: Sovos Brands Inc., up $4.54 to $22.56. Campbell Soup is buying the maker of Rao’s pasta sauces in a deal worth about $2.7 billion. Veritiv Corp., up $27.79 to $169. Clayton, Dubilier & Rice is buying the distributor of packaging and printing supplies. Viatris Inc., up 41 cents to $11. The generic drugmaker reported strong second-quarter earnings and revenue. Elanco Animal Health Inc., up 47 cents to $12.12. The maker of animal health products beat analysts’ second-quarter profit ...

Wall Street slips following mixed reports on US job market, Big Tech earnings

NEW YORK (AP) — Stocks are slipping Friday following mixed reports about the U.S. job market and profits at two of Wall Street’s most influential stocks. The S&P 500 was 0.4% lower in late trading and on track for a fourth straight loss. The Dow Jones Industrial Average also lost an earlier gain and was down 123 points, or 0.3%, at 35,02 with half an hour remaining in trading. The Nasdaq composite was 0.2% lower. Treasury yields dropped after a highly anticipated U.S. jobs report said hiring was a touch weaker last month than economists expected, though wages for workers rose ...