Stocks ended a wobbly day lower on Wall Street after a late-afternoon drop erased the tentative gains major indexes had been clinging to for much of the day. The S&P 500 gave back 0.3 percent Wednesday, its sixth consecutive loss. The Dow and Nasdaq ended with smaller losses. Yields on the 2-year and 10-year Treasury…
Closing Prices for Crude Oil, Gold and Other Commodities (Oct. 12)
October 12, 2022
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Benchmark U.S. crudeBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for November delivery fell $2.08 to $87.27 a barrel Wednesday. Brent crude for December delivery fell $1.84 to $92.45 a barrel. Wholesale gasoline for November delivery was unchanged at $2.63 a gallon. November heating oil was unchanged at $3.93 a gallon. November natural gas fell 16 cents to $6.44 per 1,000…
Americans’ Spending Expectations Plummet, Fresh Warning Sign for the Economy
October 12, 2022
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Business & Marketsconsumer sentimentconsumer spendingeconomic recessioneconomyhigh inflationhousehold spendinginflationpersonal financerecessionUS
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Household spending expectations have fallen in the month of August amid elevated inflation rates, signaling potentially bad days ahead for the American economy. “Median household spending growth expectations fell sharply to 6.0 percent from 7.8 percent in August, its steepest one-month decline since the series’ inception in June 2013, and its lowest reading since January…
Social Security Pop-up Ads Are So Misleading
In the last month or so, I’ve written two columns about Social Security “news” articles I’ve seen in various publications with misleading headlines that are intended to lure you into reading the rest of the story. What’s contained in the article is never as dramatic or newsworthy as the exaggerated headline would indicate. These Social…
More Inflation Pain for Consumers Likely as Business Cost Gauge Soars
Inflation from the perspective of business costs—which tend to get passed along to consumers—soared in September, reversing the prior month’s decline and coming in twice as high as markets expected, pointing to a drawn-out Fed fight against high prices. The Producer Price Index (PPI) jumped by 0.4 percent between August and September, according to data…
Retirement: How Retirees Can Tap Their Home for Income
By Sandra Block From Kiplinger’s Personal Finance Retirees needing income might look no further than their home. A sharp rise in home values, combined with a shortage of single-family homes, has driven up home prices around the country, leaving senior homeowners with more than $11 trillion in home equity. If you’re planning to downsize, you…
Tax Deductions for Disaster Relief
Whether it’s a catastrophic hurricane like Ian or a California wildfire, disaster can strike and cause significant property destruction. Insurance can help, but it’s out of pocket for some damage not covered. But taxpayers hit with a catastrophic event and have sustained a “casualty loss” should check to see if it’s a federally declared disaster….
10 Million Low-Income Americans May Still Be Eligible for COVID-19 Stimulus Payment
October 12, 2022
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Millions of Americans are still eligible for COVID-19 relief payments, the Government Accountability Office (GAO) said on Tuesday. According to a report from the GAO, Americans with little or no income who are not required to pay taxes have until Nov. 15 to complete a simplified tax return in order to get their stimulus checks. The report found that…
Closing Prices for Crude Oil, Gold and Other Commodities (Oct. 11)
October 11, 2022
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Benchmark U.S. crude oil for November delivery fell $1.78 to $89.35 a barrel Tuesday. Brent crude for December delivery fell $1.90 to $94.29 a barrel. Wholesale gasoline for November delivery rose 1 cent to $2.63 a gallon. November heating oil rose 2 cents to $3.93 a gallon. November natural gas rose 16 cents to $6.60…
How Major US Stock Indexes Fared Tuesday Oct. 11, 2022
Stocks ended mostly lower after an afternoon hiccup on Wall Street as trading remains unsettled ahead of key reports on inflation and corporate earnings. The S&P 500 fell 0.7 percent after wavering down, up, then back down again. The Nasdaq fell 1.1 percent and the Dow ended just barely in the green. The S&P 500…
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