Author: Press Room

© Reuters. FILE PHOTO: Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., March 31, 2023. REUTERS/Andrew Kelly By Stephen Culp NEW YORK (Reuters) – U.S. stock indexes clawed back from steep losses to a mixed close on Monday as investors digested Friday’s employment report and prepared for an eventful week of inflation data and bank earnings. Megacap momentum stocks dragged the tech-heavy Nasdaq slightly lower, while industrials helped boost the blue-chip Dow into green territory. The bellwether ended the session nominally higher. Economically sensitive transports, semiconductors, small-caps and industrials outperformed…

By Barani Krishnan Investing.com — The March U.S. jobs report was neither a pedestal nor wrecker ball for the bulls in gold. Futures of the yellow metal settled around the key $2,000-an-ounce level on Monday while the spot price traded not too far from there after the latest monthly report on U.S. , or NFP, showed an addition of 236,000 jobs, just shy of the 239,000 called by Wall Street’s forecasters. The March NFP number was well above the 200,000 that would have been instrumental in getting the Fed to pause in May. Annual wage gains also slowed but remained…

By Jody Godoy (Reuters) – The founder of Infinity Q Management, which once claimed to manage $3 billion, was sentenced to 15 years in prison for misleading investors about the value of assets the New York firm managed, U.S. Attorney Damian Williams said on Monday. U.S. District Judge Denise Cote sentenced James Velissaris, 38, on Friday after rejecting his recent request to withdraw his guilty plea, which he entered in November. “We hope this lengthy sentence resonates in the financial sector and deters anyone who may be tempted to lie to investors,” Williams said in a statement. A spokesperson for…

Recap from February’s Picks On a price return basis, the Safest Dividend Yields Model Portfolio (-12.4%) underperformed the S&P 500 (-1.7%) by 10.7% from February 23, 2023 through March 20, 2023. On a total return basis, the Model Portfolio (-12.0%) underperformed the S&P 500 (-1.4%) by 10.6% over the same time. The best performing large-cap stock was down <1%, and the best performing small-cap stock was down <1%. Overall, five out of the 20 Safest Dividend Yield stocks outperformed their respective benchmarks (S&P 500 and Russell 2000) from February 23, 2023 through March 20, 2023. This Model Portfolio only includes…

One of the most common bits of advice from financial professionals is to start saving as early as you can. That’s absolutely true. But what if you didn’t and are now approaching retirement with little or nothing in savings? The reality is that it’s not likely to be easy. You’re going to need to find ways to save more now, increase your income in retirement, and/or reduce your retirement expenses. Here are some ideas to consider: 1. Go through your expenses and look for ways to cut back. The goal is to free up as much money as you can…

Walmart has announced Tuesday that it is closing four of its Chicago stores because they are part of a group of locations that “lose tens of millions of dollars a year.”  The retail giant says the Chatham Supercenter, the Walmart Health center, and the Walmart Academy at 8431 S. Stewart Ave., the Kenwood Neighborhood Market at 4720 S. Cottage Grove Ave., the Lakeview Neighborhood Market at 2844 N. Broadway St. and the Little Village Neighborhood Market at 2551 W. Cermak Road will shutter this upcoming Sunday. “The simplest explanation is that collectively our Chicago stores have not been profitable since we…

The field of hospitality took a massive hit during the pandemic. Millions of jobs were lost within a matter of weeks. Since then, however, the industry’s been steadily recovering. Leisure and hospitality added 72,000 jobs in March, according to the Bureau of Labor Statistics.As these tens of thousands of jobs open up, employers continue to look for bartenders, hosts, cooks and other staff to run their events and establishments. If you’re looking for a way to make some extra cash on the side, love serving people and have a lot of energy after hours, consider picking up a gig at…

Check out the companies making headlines in midday trading.WW International – Shares of the WeightWatchers parent surged 48%. Goldman Sachs upgraded the diet company to a buy from neutral rating late Monday, saying shares could more than triple as WW International pushes into the obesity medication market.CarMax — The car retailer’s shares jumped 10% after it announced a beat on its earnings for the fourth quarter. CarMax posted earnings of 44 cents per share, while analysts polled by Refinitiv had anticipated 24 cents per share. Meanwhile, the company’s revenue of $5.72 billion missed analysts’ estimates of $6.04 billion.Mohawk Industries —…

The banking crisis could help the Federal Reserve’s fight to bring down inflation, but the central bank needs to be “cautious” in its actions moving forward, Chicago Fed President Austan Goolsbee said Tuesday. Goolsbee, the newest Fed appointee, spoke before the Economic Club of Chicago and addressed the “new, big, hairy elephant in the room” that was the recent failure of two regional banks, Silicon Valley Bank and Signature Bank, and subsequent market turmoil. “At moments of financial stress like this, the right monetary policy is really caution and watchfulness and prudence,” he said. “And I don’t say that because…

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