Category Archives: Economic News
Americans have grown more cautious and disciplined in handling their money since the financial crisis struck in 2008, a survey by a leading mutual fund company suggests. People say they don’t spend as much, save as little or embrace as much risk as they did before the crisis, according to a survey of nearly 1,200 people by Fidelity Investments.
Free tax help is available, and it’s not only for those in financial need. Some organizations offer free services regardless of how much you earn. AARP, the nonprofit organization that advocates for people over 50, has relaxed income requirements for who can receive free tax preparation assistance and also helps people of different ages. Read More
Think you missed out on your 2012 IRA contribution? Think again. Individuals can still make 2012 contributions up until April 15th, 2013 into a traditional or Roth IRA. For those under 50 years old, last year’s contribution limit was $5,000 of their earned income, while those over 50 may contribute up to $6,000. Read More
Is it too late? If you’ve stayed out of stocks recently, you might be worried that you’ve missed your chance to get back in. After all, they must be expensive now that the Dow Jones industrial average has risen 120 percent in four years to a record high. Read More
When lawmakers delivered a long-delayed, last-minute agreement on the budget, Wall Street celebrated. And it would be easy to think that the surge in the Dow the following day meant that investors had put their concerns about Washington’s political gridlock behind them. Read More
2012 had its fair share of big days on the stock market. Here’s a look back at what set off the biggest moves in the Dow Jones industrial average. Read More
Congress and the White House are struggling to avoid the “fiscal cliff,” the package of huge tax increases and spending cuts that kick in next year unless a budget agreement is reached first. Read More
In the fiscal cliff wars, a pivotal battle is raging between Democrats demanding to raise revenue by boosting tax rates on the nation’s highest earners and Republicans insisting on eliminating deductions and other tax breaks instead. Which is better for the economy? Analysts say it depends. Read More
This holiday season, the hottest trend among retailers isn’t found on a store shelf. It’s taking place at the cash register. Major retailers, from Best Buy to Toys R Us, are promising to match their competitors’ prices. Generally customers just need to bring in an advertisement or printout to prove that the same item is available elsewhere at a lower price.
Add seven swans, six geese and five golden rings to the list of Christmas gifts that cost more than they did a year ago. And if you get all 364 items repeated throughout “The Twelve Days of Christmas” carol, you’ll pay 6.1 percent more this year, according to the so-called Christmas Price Index that PNC Wealth Management updates annually. Read More
The Federal Reserve wasn’t just trying to drive down interest rates when it announced a third round of bond purchases Thursday, September 13. It also wants to make people feel wealthier — and more willing to spend.
Investors are dumping Facebook’s stock, spooked by slowing revenue growth, the lack of a financial outlook and plans to spend more money in the coming months. Are they right? Only if they are thinking in the short term. Investors can expect Facebook’s stock to be volatile for a few years. Read More
Banks and savings institutions earned $35.3 billion in the year’s first quarter, $6.6 billion more than the industry’s $28.8 billion profit a year ago, the FDIC announced in its Quarterly Banking Profile. Read More
The Federal Reserve can do more if needed. But it wants to see how the economy fares over the next few months. And it would welcome help in boosting the economy from Congress and the White House. That was the message, among others, that Chairman Ben Bernanke sent in a news conference Wednesday, June 20. Read More