Consumers are growing more optimistic about the US economy

CNN  —  Consumer confidence rose for a second straight month in September, as moderating gas prices and the hope that inflationary pressures might be easing helped lift the nation’s collective mood. The Conference Board reported on Tuesday that its baseline index rose to 108 from a revised 103.6 in August, the highest it has been … Read more

Stocks gain ground a day after Dow entered a bear market

NEW YORK (AP) — Stocks rose in morning trading on Wall Street Tuesday a day after a broad sell-off sent the Dow Jones Industrial Average into a bear market to join other major U.S. indexes. The S&P 500 rose 1% as of 10:22 a.m. Eastern. The Dow rose 219 points, or 0.8%, to 29,498 and … Read more

Here are Q4 strategies from advisors amid rate hikes and high inflation

Ridofranz | Istock | Getty Images It’s been a nerve-wracking year for investors. With ongoing stock market volatility, high inflation and interest rate hikes, many wonder if we’re heading for a prolonged economic downturn.   “I think we have to be defensive,” said certified financial planner Ivory Johnson, founder of Delancey Wealth Management in Washington, D.C. … Read more

Take no prisoners: In the Fed’s inflation fight, no one is spared

New York CNN Business  —  Call it the “Take No Prisoners” economy. Recession worries are deepening around the world. Mortgage rates are spiking and housing is stalling. The Dow is at a two-year low and near a bear market. Global central banks are jacking up interest rates with no end in sight until high inflation … Read more

Fed’s Evans nervous about going too far, too fast with rate hikes

Chicago Federal Reserve President Charles Evans says he’s feeling apprehensive about the U.S. central bank raising interest rates too quickly in its quest to tackle runaway inflation. Speaking to CNBC’s “Squawk Box Europe” on Tuesday, Evans said he remains “cautiously optimistic” that the U.S. economy can avoid a recession — provided there are no further … Read more

Where to get the best return on your cash amid rising interest rates

When the Federal Reserve hiked the target federal funds rate by another 0.75 percentage points this month, it opened some new opportunities for savers to earn better returns on their cash. The Fed’s move is aimed at combating high inflation, which has sent costs for housing, food and energy soaring. The bad news for consumers … Read more

Stocks fall on recession fears; Dow slips into bear market

The Dow Jones Industrial Average became the last of the major U.S. stock indexes to fall into what’s known as a bear market Monday as the market deepened its slump amid growing fears of a global recession. The blue chip index fell 1.1%, while the S&P 500 closed 1% lower and the Nasdaq dropped 0.6% … Read more

Bank of England monitoring markets ‘very closely’ after pound falls

Analysts expect the Bank of England may need to raise interest rates more aggressively following market turbulence on Monday morning. Sopa Images | Lightrocket | Getty Images LONDON — The Bank of England on Monday said it is monitoring financial market developments “very closely” after a dramatic morning of turmoil saw the British pound fall to an … Read more

Why the Fed is pushing unemployment higher

Federal Reserve Chairman Jerome Powell said Wednesday it will be almost impossible for the central bank to beat inflation without hundreds of thousands of Americans losing their jobs.  Fed officials expect the unemployment rate to rise to 4.4 percent next year, up from 3.7 percent in August, as they jack up borrowing costs and slow … Read more

Southern California gas prices are skyrocketing again

LOS ANGELES (CNS) — The average price of a gallon of self-serve regular gasoline in Los Angeles County rose for the 22nd consecutive day, increasing 7.4 cents Saturday to $5.689. The average price has increased 44.3 cents over the past 22 days, according to figures from the AAA and Oil Price Information Service. It is … Read more