The summer housing market is facing challenges that continue to dampen expectations for growth. Following a lackluster spring, the summer market is showing no signs of improvement. High home prices persist, mortgage rates remain elevated, and the limited increase in home listings is failing to excite consumers. These factors have culminated in stagnant mortgage demand
Morgan Stanley, one of the major players in the financial industry, is making significant strides in the adoption of artificial intelligence (AI) to enhance the efficiency of its financial advisory services. The latest addition to its AI arsenal is an assistant named Debrief, designed to streamline the note-taking process for advisors and provide them with
Recent reports indicate that Americans are saving more for retirement, as seen in the annual report released by Vanguard on How America Saves 2024. However, the findings also suggest that there is still a significant gap in the amount of savings needed for a comfortable retirement. Stock market returns have been favorable, and automatic enrollment
Europe’s Stance on AI Regulation Europe is currently facing a dilemma that could potentially hinder its ability to keep up with global leaders in artificial intelligence. Prince Constantijn of the Netherlands expressed his concern that Europe is too focused on regulating AI rather than fostering innovation in the space. The EU has taken a tough
FedEx shares experienced a significant surge of over 15% in after-hours trading following the release of its fiscal fourth quarter results. The company exceeded analysts’ expectations in both earnings and revenue. In terms of earnings per share, FedEx reported $5.41 adjusted compared to the anticipated $5.35. Revenue also surpassed estimates, coming in at $22.11 billion
In the quest to boost the international usage of China’s currency, the yuan, various challenges and opportunities present themselves. The CEO of Hong Kong Exchanges and Clearing Limited, Bonnie Chan, emphasized the need for more diverse “applications” of the yuan, such as in stocks and bonds. In a world where the U.S. dollar reigns supreme,
The U.S. auto industry has experienced a 2.9% increase in sales in the first half of the year compared to the same time last year. However, there are growing concerns that this momentum may not be sustainable through the end of the year. Factors such as increasing vehicle inventory levels, rising incentives, and uncertainties surrounding
In recent years, the trend of shrinking home sizes has become increasingly prevalent in the real estate market. According to data from the U.S. Census Bureau, the typical newly constructed single-family home in the first quarter of 2024 had a median of 2,140 square feet of floor space. This marks a decrease from the median
In today’s world, a looming retirement savings crisis is becoming more apparent. Many individuals with 401(k) plans and other retirement balances are falling short of what they will need to sustain themselves during retirement. However, there is a glimmer of hope for some individuals known as “super savers.” These super savers are going above and
As you approach retirement with a substantial 401(k) or IRA balance, experts advise creating a plan to navigate potential tax implications. With the recent legislation of Secure 2.0, the age for required minimum distributions (RMDs) has been increased to 73, starting in 2023. These RMDs, linked to pre-tax retirement accounts, can push retirees into higher
