Author: Press Room

Many Americans plan to rely on their credit cards to finance a significant portion of their holiday travel, even if they can’t afford it, a recent survey said.  Roughly 83% plan to pay for a portion of their trip using credit cards, a new Debt.com survey said. More than a quarter (30%) expect to finance at least $5,000 of their travel expenses, and 7% said they may charge $15,000 or more, according to the Debt.com survey.  More than half of respondents (56%) will use their credit cards to earn cashback and rewards. However, 19% said they had to rely on…

Anyone out shopping for a home today knows there is still precious little for sale.The housing market is just beginning to come out of its leanest few years in history. Inventory of both new and existing homes is finally rising, but there is something suddenly strange in the numbers: The supply of newly built homes appears to be way too high.The numbers, however, are deceiving due to the unprecedented dynamics of today’s housing market, which can be traced back two decades to another unprecedented time in housing, the subprime mortgage boom.All of it is precisely why home prices, which usually…

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. New highs: The broad-based S & P 500 index is on track for another record close, while the tech-heavy Nasdaq Composite gave up its early gains and was near the flatline. The mega-cap tech stocks are still in the green, but traded off their higher levels of the session. Meanwhile, the Dow Jones Industrial Average was down slightly. Powell speaks: Financials led the market and the big banks got a boost with…

Meta will now remove posts containing the term “Zionist” when used in conjunction with antisemitic tropes or dehumanizing rhetoric, the company said Tuesday, in an expansion of its current hate speech policies. The decision follows what the company described as a months-long inquiry into how the term has historically been used and how it is currently being used on social media, particularly as the war in Gaza continues. “We have determined that the existing policy guidance does not sufficiently address the ways people are using the term ‘Zionist’ online and offline,” Meta said in a blog post. “Going forward, we will remove…

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Co-Authored by Analyst Antonio Mello Thesis Throughout the last year, there has been a lot of movement through the industrials sector, with gold prices driving upward and copper volatility in particular. The sector provides for a unique investment opportunity, specifically among two competitors, as the landscape of the industry gathers speculation. We believe there is a window of opportunity to capitalize on upside potential from the market discounting Newmont Corporation (NYSE:NEM) and potential underperformance of Teck Resources (NYSE:TECK). We propose 130% long exposure to Newmont Corporation and 50% short exposure in Teck Resources as gold price forecasts suggest significant top…

Joe Biden launched an aggressive effort to hold on to his party’s presidential nomination on Monday, issuing a defiant letter to wavering congressional Democrats and appearing on national television to insist: “I’m not going anywhere.”Biden’s moves, including joining a strategy call for major contributors, came after his grip on the Democratic leadership in Washington continued to erode, with some senior members of his party calling for him to drop out at the weekend.The multipronged counteroffensive — hitting crucial constituencies on Capitol Hill, the left-leaning media and the donor classes — appeared part of a co-ordinated effort by the president’s team…

The highest-income households would receive more than 45% of the benefits if the expiring provisions of the 2017 Tax Cuts and Jobs Act are extended, according to an analysis released Monday by the Urban-Brookings Tax Policy Center. The tax cut law was a key accomplishment of former President Donald Trump’s first term, but the individual and certain business tax provisions are set to expire at the end of next year. Trump has promised to extend them if he is returned to the White House in November’s election. If the law’s provisions are made permanent, households making at least around $450,000…

Black and Latino workers, along with those of other or multiple races/ethnicities regularly have significantly less money in retirement savings than white workers do. This disparity results in a less secure retirement, even though they often work longer hours and careers. The retirement savings gap results, in large part, from many people of color having less access to retirement benefits at work. The overwhelming majority of people – more than 90% — will participate in a retirement plan at work if they are eligible, regardless of their racialized group. Yet, white workers are often more likely to work for employers…