Breaking News

Business

Wall Street stalls a day after a rare August gain

The Associated Press NEW YORK — Wall Street is drifting in mixed trading Tuesday ahead of two potentially market-shaking events later in the week. The S&P 500 was 0.2% lower in late trading, coming off a rare August gain that was powered by Big Tech stocks Monday. The Dow Jones Industrial Average was down 159 points, or 0.5%, at 34,304 with an hour remaining in trading. The Nasdaq composite was 0.2% higher. Stocks have struggled this month as yields have shot upward in the bond market, which cranks up the pressure on other investments. The yield on the 10-year Treasury eased a bit ...

Macy’s had to discount spring goods to entice cautious consumers and sees more warning signs ahead

NEW YORK (AP) — Macy’s heavily discounted its spring goods to make room for fall and holiday merchandise in the face of customers’ cautious spending, but the retailer’s adjusted second-quarter profits and sales still topped Wall Street expectations. Macy’s, which also operates upscale Bloomingdale’s as well as Bluemercury beauty stores, on Tuesday reaffirmed its annual sales and profits forecasts, while still noting uncertainty about the economy in the second half of its fiscal year. The company cited a faster-than-anticipated rise in credit card delinquencies, signaling ...

Global food security is at crossroads as shortages and surging prices hit the most

The Associated Press Francis Ndege isn’t sure if his customers in Africa’s largest slum can afford to keep buying rice from him. Prices for rice grown in Kenya soared a while ago because of higher fertilizer prices and a yearslong drought in the Horn of Africa that has reduced production. Cheap rice imported from India had filled the gap, feeding many of the hundreds of thousands of residents in Nairobi’s Kibera slum who survive on less than $2 a day. But that is changing. The price of a 25-kilogram (55-pound) bag of rice has risen by a fifth since June. Wholesalers are yet to ...

Create a care plan for older parents (or yourself)

NerdWallet At some point, most older people will need help getting through the day. Someone turning 65 today has a 70% chance of eventually requiring assistance with basic living activities, such as bathing, dressing and using the toilet, according to the U.S. Department of Health and Human Services. That’s the grim reality. Even grimmer is that Medicare typically doesn’t pay for such help. Plus, families often don’t try to figure out how to provide this care until there is a health crisis, which can lead to unnecessary stress, conflicts and escalating costs, says certified ...

Wall Street holds firmer after slide as Big Tech stocks rebound

NEW YORK (AP) — Wall Street is holding a bit firmer Monday following its three-week losing streak. The S&P 500 was 0.7% higher in afternoon trading. Gains Tesla, Microsoft and other Big Tech stocks lifted the index even though the majority of stocks were falling. The Dow Jones Industrial Average was down 8 points, or less than 0.1%, at 34,491 with just under an hour remaining in trading, and the Nasdaq composite was 1.6% higher. It was a return to form for Tesla and other market behemoths, which have struggled recently under the weight of rising yields in the bond market. The ...

Mastering personal finance amid rising debt challenges

Wealth of Geeks At the close of 2022, the average American household had a credit card debt of $5910, an increase of 13.2% increase from the previous year. Altogether, the overall credit card debt in the US reached a staggering $909.9 billion. In an era of increased credit utilization, it’s essential to have a firm grasp on personal finances to save money and get ahead in life. From understanding auto loans to navigating the world of investments, taxes, and insurance, a solid grounding in personal finance can make all the difference. However, most people were not taught these ...