Economy

Job Growth Surges, Wages Push Higher in May

WASHINGTON — U.S. job growth accelerated sharply in May and wages picked up, signs of momentum in the economy that bolster prospects for an interest rate hike in September. Nonfarm payrolls increased 280,000 last month, the largest gain since December, the Labor Department said Friday. While the unemployment rate rose to 5.5 percent from aContinue Reading “Job Growth Surges, Wages Push Higher in May”

Economy

Market Wrap: Stocks Drop Ahead of Jobs Report; Greece Weighs

NEW YORK — U.S. stocks fell Thursday, hit by nervousness ahead of Friday’s employment report and lingering uncertainty over a Greece aid deal with creditors. Declining oil and gold prices also weighed on energy and materials shares, which led declines in the benchmark S&P 500. Data showed the labor market tightening, with first-time applications forContinue Reading “Market Wrap: Stocks Drop Ahead of Jobs Report; Greece Weighs”

Economy

Yes, Cash Has a Role in Your Portfolio

  After all, without cash — money in a liquid account you can withdraw immediately without penalty — you can’t seize fleeting market opportunities. But those opportunities are only worth pursuing if they “fit into your overall investing plan,” cautions Craig Bartlett, vice president and division consulting manager for U.S. Bancorp Investments, based in Minneapolis.Continue Reading “Yes, Cash Has a Role in Your Portfolio”

Economy

To Hike or Not to Hike? IMF Urges Fed to Delay Rate Increase

  WASHINGTON — What’s the hurry? The International Monetary Fund on Thursday urged the Federal Reserve to put off raising short-term interest rates until next year because the U.S. economy still needs help. In its yearly check-up of the United States, the IMF predicted the American economy would grow just 2.5 percent this year, downContinue Reading “To Hike or Not to Hike? IMF Urges Fed to Delay Rate Increase”

Economy

The stock market is becoming a ‘lose-lose’ situation

It’s about to be a lose-lose situation for stock market investors. In a note to clients on Tuesday, Bank of America’s Michael Hartnett wrote that with the Fed set to raise rates and the US economy underperforming, we could be be facing a tough period for investors this year. Hartnett writes: We have been urgingContinue Reading “The stock market is becoming a ‘lose-lose’ situation”

Economy

29% of Americans 55 and Older Have No Retirement Savings

  How bad is America doing when it comes to retirement savings? The Government Accountability Office looked into the question, and its answer is sobering. GAO analysis finds that among households with members aged 55 or older, nearly 29 percent have neither retirement savings nor a traditional pension plan. There hasn’t been a significant increaseContinue Reading “29% of Americans 55 and Older Have No Retirement Savings”

Economy

Beige Book Survey: U.S. Economy Growing at Moderate Pace

  WASHINGTON — he U.S. economy was growing at a moderate pace through mid-February despite severe winter storms that had disrupted activity in some regions, the Federal Reserve reported Wednesday. The Fed said that six of its 12 regions had reported moderate growth with modest gains seen in most other areas. The Boston district saidContinue Reading “Beige Book Survey: U.S. Economy Growing at Moderate Pace”