Markets News 

No US recession in sight, but here’s what to watch

“When markets overheat, a recession follows, and these concerns are keeping some investors on the sidelines” writes Leia Klingel for foxbusiness.com. According to Wells Fargo’s Investment Institute, sidelined investors could miss out on profits, with tax reform likely to support higher equity levels. Source: foxbusiness.com Share This:

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BNY Mellon to raise wages for 1,000 workers

“Scharf, a former Visa Inc. and J.P. Morgan Chase & Co. executive who joined BNY Mellon in 2017, is reviewing the trust bank’s businesses and operations” writes Justin Baer for marketwatch.com. BNY Mellon is the latest bank to announce higher wages or one-time bonuses for lower-paid employees since a sweeping tax-overhaul bill was passed in late 2017. BNY Mellon executives said they expect revenue growth would outpace expenses in 2018. Source: marketwatch.com Share This:

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Eric Trump’s 401 rose 35 percent over the past year. Half of American families don’t have one.

“The result is apparent in the chart below, which traces the median value of retirement accounts by net worth percentiles” reports washingtonpost.com. The good news for the bottom 25 percent of those who have retirement accounts: At least they have something.But about half of American households have no retirement savings, and many more are unable to save as much as experts say they’ll need.Measures of wealth and net worth don’t typically count those assets because they’re not owned by people the same way a savings account or 401(k) is. Source: washingtonpost.com Share This:

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Some utility rates could go down after US corporate tax cuts

“A letter from the coalition calls for an investigation into the “justness and reasonableness” of utility rates following reduction of utilities’ corporate tax rates” reports foxbusiness.com. In Maryland, where three utilities asked that state’s regulators reduce utility rates to reflect tax savings, Baltimore Gas & Electric estimated that it alone will pass $82 million in tax savings on to customers.Public utility regulators from Oklahoma to Massachusetts are considering lowering the rates that homeowners and businesses pay for electricity and natural gas after a federal tax overhaul signed into law by…

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Save at least this much each month to send your kids to college and retire on time

“How much you need to save to each month to send two kids to college and retire on time” writes Catey Hill for nypost.com. More than four in 10 parents (43 percent) aren’t saving a dime for college, according to data from Sallie Mae.That’s how much the average person in American needs to save to be able to send two kids to college and retire on time, according to a new analysis by personal finance site SmartAsset.So how does one manage to save that $632 per month for retirement and…

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News Oil 

Wall Street jumps to record highs on strong day for energy stocks

“Wall Street closed at record highs on Thursday as rising oil prices lifted energy stocks and investors bet on a strong U.S. corporate earnings season” reports foxbusiness.com. The S&P energy sector .SPNY closed up 2 percent as Brent crude LCOc1 went above $70 a barrel for the first time since December 2014, boosted by a surprise drop in U.S. production and lower crude inventories.That helps explain the demand picture, which has oil up at $70,” said Scott Clemons, chief investment strategist at Brown Brothers Harriman in New York. On U.S….

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Buying a rental property is cheaper in the winter — here are the 26 best places to make money as a landlord right now

“They compared return on investment figures for homes purchased during winter and homes purchased during summer in the country’s biggest metro areas” writes Aol Staff for aol.com. HomeUnion then calculated the capitalization rate (or “cap rate”) — the return on investment after operating costs — for each market, and subsequently, the percentage difference between the cap rate in winter months and summer months.HomeUnion, an online real estate and investment firm, recently released a list of the best places in America to score a bargain on a rental property this season.Below, we’ve…

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Markets News 

Sun-Times readers help pawn shop owner get savings bonds back to homeless vet

“Wilson is now among more than 50 people that Mathis has reunited with old savings bonds, and the pawn shop owner is working on returning 72 more” writes Mitchell Armentrout for suntimes.com. And with a set of 37-year-old savings bonds back in the hands of the person who needed them, a kindhearted pawn shop owner from central Kansas was finally able to put his mind at ease.Mathis asked for help finding Woodrow Wilson Jr., who pawned nine $100 savings bonds for pocket money back in 1980 when he was 21…

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Financial Tips 2018: How to get ahead on taxes, savings and insurance

“But insurance is the foundation of any financial plan, as it protects people from catastrophic losses that can wipe them out” writes Usa Today for suntimes.com. TAX PLAN TUNE-UP The new tax law means most Americans’ tax bills will change.That means making sure your house, car, health and life is adequately insured against events that could put your family in financial peril.Simpler moves include reducing the money withheld from your paycheck for taxes if you’re getting a cut, or boosting your withholding if you expect to pay more in taxes. Source:…

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