Zelle scams: Here’s how they work and how to protect yourself and your bank account

A man is sharing his story after he says his bank account was drained after receiving a text message that appeared to be from his bank. “I was caught off guard, but I might as well have just walked out my front door and given all of my money to the first person that I … Read more

How to protect your 401(k) in a bear market

Editor’s Note: This is an updated version of a story that originally ran on August 29, 2022. Stocks and bonds are trading in bear territory. And given current circumstances, it’s fair to assume the markets will remain volatile for awhile. Interest rates are rising quickly in the US and Europe amid government efforts to tamp … Read more

Dow on track for its worst month since March 2020

New York CNN Business  —  September has been a horrible month for stocks. The Dow is on track to fall more than 8%, its worst monthly drop since March 2020, when pandemic lockdowns started in the United States. The index was in the red Friday too. The Dow, a widely watched barometer of America’s stock … Read more

Nike is going on sale, and its stock is plunging

New York CNN Business  —  Add Nike to the list of brands and stores discounting excess merchandise to clear it off shelves. Nike (NKE) said Thursday its inventory levels soared 65% in North America, its largest market, and 44% overall last quarter from a year ago. After navigating limited supply in 2021 Nike is now … Read more

Dividend yields on preferred stocks have soared. This is how to pick the best ones for your portfolio.

This year nearly every type of security has declined — bad news if you look at your portfolio’s value each day and have difficulty sleeping at night. On the other hand, it’s good news if you’re looking for income. Because the rising interest rates mean falling prices for bonds and preferred stocks. For those income-oriented … Read more

Crypto CEOs are leaving their jobs. Here’s why

Hello, welcome back to Distributed Ledger, our weekly crypto newsletter that reaches your inbox every Thursday. I’m Frances Yue, crypto reporter at MarketWatch. I’ll walk you through the latest and greatest in the digital asset world this week. During the past few weeks, chief executives at several major crypto companies left their positions. I caught … Read more

Think mortgage rates are high now? Homebuyers in the 1980s were paying 19%

Think mortgage rates are high now? Connie Strait remembers when she was starting her career in real estate in the early 1980s and buyers were contending with rates three times higher. Strait recalled one couple who were actually relieved when they locked in a 30-year fixed-rate mortgage at 19% in September 1981. The couple had … Read more

Used cars have become unaffordable

New York CNN Business  —  High prices and rising interest rates are putting used cars out of reach for a growing number of car shoppers. That’s bad news for CarMax, the nation’s largest used car dealer. CarMax reported Thursday that its earnings plunged 54% as the number of cars it sold in the quarter fell … Read more

Latest GDP reading confirms the US economy shrank for two straight quarters, supporting one definition of a recession

Minneapolis CNN Business  —  The US economy shrank by 0.6% during the second quarter of the year, according to the latest gross domestic product estimate from the Bureau of Economic Analysis released Thursday. That matches the most recent GDP estimate and shows the economy was in contraction for the entire first half of the year … Read more

Student loan forgiveness: Biden administration kicks off student loan debt forgiveness process

CNN  —  The Biden administration on Thursday is kicking off its efforts toward forgiving student loan debt, sending updates on the process via email before the window to apply opens next month. In August, President Joe Biden announced his decision to cancel up to $10,000 in student loan debt for individuals making less than $125,000 … Read more