Between March 2022 and July 2023, the Federal Reserve raised its benchmark rate 11 times. As a result, money market account (MMA) interest rates rose sharply. However, the Fed slashed the federal funds rate by 50 basis points in September, and another 25 basis points in November and December. So deposit rates — including money market account rates — have started falling. It’s more important than ever to compare MMA rates and ensure you earn as much as possible on your balance. The national average money market account rate stands at 0.66%, according to the FDIC. This might not seem…
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(Reuters) – Iran has summoned the Swiss ambassador in Tehran, who represents U.S. interests in the country, and a senior Italian diplomat over the arrest by the U.S. of two Iranian nationals this week, Iranian media reported on Saturday. U.S. prosecutors charged the two men on Monday with illegally exporting sensitive technology to Iran that they said was used in a January drone attack in Jordan that killed three U.S. service members. The U.S. blamed Iran-backed militants for the attack. Iran said at the time it was not involved. Federal prosecutors in Boston identified the men as Mohammad Abedini, the…
Image source: Getty Images The S&P 500’s hit historic highs this month, closing above 6,000 points for the past two weeks running. Up 27% this year, its performance has dwarfed the FTSE 100‘s lacklustre 6.5% growth. Major US tech stocks such as Broadcom and Tesla have been leading the charge in the past five days, up 40% and 20% respectively. But looking at year-to-date performance, one under-the-radar company sticks out. Slotted between the usual suspects of Palantir and Nvidia is Vistra (NYSE: VST), the second-best-performing S&P 500 stock this year. Up 262% since 1 January, it’s streaks ahead of Nvidia’s…
Index fund investors have various choices when selecting the weighting style of the funds they hold. There are market cap-weighted indices like the S&P 500 and the Russell 2000/3000, stock price-weighted indices like the Dow Jones Industrial Average, as well as equally weighted indices. But to our knowledge, there is no index constructed at the US country level that weights holdings by each sector’s underlying GDP. So, how would we construct such an index and how would it compare to the S&P 500 in terms of performance and risk? To create our US GDP-weighted index, we broke the S&P 500…
Naloxone is an over-the-counter nasal-spray medication that can save an overdose victim by rapidly reversing the effects of fentanyl, heroin and other opioids. Doctors urge all people – especially those with prescription opioids at home or a substance abuser in the household – to keep naloxone in their first aid kits or even in their bags. Anyone can experience an opioid emergency, including small children who accidentally ingest the drugs. Naloxone is sold under brand names such as Narcan and RiVive. It can be bought online or at major pharmacies for between $30 and $45 a kit. Each kit contains…
In September, the Federal Reserve cut its benchmark rate by 50 basis points. It then cut its rate by another 25 basis points in November and December. As a result, deposit interest rates are falling from their historic highs. Still, it’s possible to find high-yield savings accounts paying above 4% APY. So, if you’re looking for the best rates available today, here’s a breakdown of where to find them. Although savings interest rates are elevated by historical standards, the national average rate for savings accounts is still just 0.43%, according to the FDIC. The good news: Top high-yield savings accounts…
View of the Volkswagen Osnabrück GmbH plant. Friso Gentsch | Picture Alliance | Getty ImagesVolkswagen on Friday announced sweeping changes to its German operations, including more than 35,000 future job cuts and sharp capacity reductions in a last-gasp deal between Europe’s top carmaker and unions to avert mass strikes.Union leaders hailed the agreement as a “Christmas miracle” after 70 hours of grueling negotiations, the longest in the company’s 87-year history. There would be no immediate site closures or layoffs, and VW appeared to have backed away from demanding 10% wage cuts.The deal avoiding costly strikes may also provide relief to investors…
Image source: The Motley Fool At the 2005 Berkshire Hathaway annual shareholder meeting, its head and billionaire investor Warren Buffett said the following: “One of the interesting things about investment is that there’s no degree of difficulty factor. I mean, if you’re going to go diving in the Olympics and try to win a gold medal, you get paid more, in effect, for certain kinds of dives because they’re more difficult … But in terms of investing, there is no degree of difficulty. If something is staring you right in the face and the easiest decision in the world, the…
By Thomas Escritt and Rachel More MAGDEBURG, Germany (Reuters) -The death toll from a car-ramming at a German Christmas market in the city of Magdeburg rose to four on Saturday, according to German newspaper Bild, after a Saudi man was arrested on suspicion of ploughing a car into the crowd. Scores of people were injured in the attack on Friday evening, which came amid fierce debate over security and migration during an election campaign in Europe’s largest economy in which the far right is polling strongly. Police were not immediately available to comment on the reported casualty figures. Local officials…
NEW YORK — The Federal Reserve’s third interest rate cut of the year will likely have consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses.But with inflation pressures still elevated and with concern that President-elect Donald Trump’s policies could fuel inflation, the Fed indicated Wednesday that it’s likely to cut rates more gradually in 2025 than it projected three months ago. The policymakers now envision two rate cuts next year, not the four they predicted in September. The seal of the Federal Reserve Board is seen Dec. 8 in Washington. Jose Luis Magana,…