Investors are more likely to trust financial planning advice generated by artificial intelligence than the myriad of opinions on social media. A recent survey by the CFP Board found that 71% of respondents said they have little or no trust in advice the find on social media platforms but are...
European stocks started the week on a positive note, tracking Friday’s gains on Wall Street following cautious comments from central bankers at Jackson Hole. China’s support measures for its equities market helped lift sentiment. The rate-sensitive technology sector led the advance in Europe after Federal Reserve Chair Jerome Powell and...
Employment growth in the world’s largest economy probably cooled and wage increases moderated in August, suggesting a further tempering of inflation risks that reduces the urgency for another Federal Reserve interest-rate hike. Friday’s U.S. jobs report is forecast to show employers boosted their payrolls by nearly 170,000 in August, while...
Hedge funds’ bullish bets in emerging-market equity futures have risen to the highest since the gauge’s pandemic low three years ago, signaling budding optimism for the asset class. Net long leveraged fund positions on futures linked to the MSCI Emerging Markets Index have been positive every week since the start...
IRS released Notice 2023-62 on Friday giving employer retirement plans two additional years to comply with the controversial rule requiring that catch-up contributions for employees age 50 or over whose wages for the prior year exceeded $145,000 be made on a Roth basis. IRS has proactively responded to requests...
Wholesalers may find it harder to gain the attention of financial advisors as the market becomes increasingly competitive. For an intermediary or asset manager, the stakes are high, with advisors indicating that those in their top three relationships account for more than 44% of their overall assets. This has increased...
Nvidia Corp. shares were set to hit a record high in early trading after the chipmaker at the forefront of an industrywide artificial intelligence race delivered a third-straight sales forecast that surpassed Wall Street estimate. Shares rose 8.7% to $512 before markets in New York opened on Thursday after Nvidia...
A Washington, D.C., federal court this week prevented Finra from expelling a brokerage it found to have harmed customers, but the regulator is confident it can defend its enforcement authority in that case and a separate one that was filed earlier this month. Tuesday, the U.S. Court of Appeals for...
Relying on Social Security benefits for a comfortable retirement has never been a good plan, but most Americans today think they may not get anything at all. Research from the Nationwide Retirement Institute has found an increase in the number of those aged 50 and over who think the Social...
The average price for U.S. houses sold during the second quarter was nearly $500,000 — that, coupled with the highest mortgage interest rates in over 20 years, could make a 401(k) loan appealing for buyers. Whether that’s a good idea is another matter. In the best-case scenario, financial advisors say:...