Author: Money Mechanics

Key Takeaways The Fed is likely to cut interest rates next week, which would push savings, money market, and CD yields lower. Opening a top nationwide CD now lets you lock in one of today’s 4%-plus rates, guaranteeing your return for months or years, despite Fed cuts. For cash you want to keep flexible, top high-yield savings accounts still pay in the 4% to 5% range, but those rates are expected to slip. The full article continues below these offers from our partners. A Fed Rate Cut Is Likely Next Week—Here’s How It Could Hit Your Savings The Federal Reserve…

Key Takeaways A strong earnings report helped boost a U.S. major carmaker on Tuesday, Oct. 21, 2025, while receding gold prices dragged down shares of a mining giant.General Motors shares surged after the vehicle manufacturer beat quarterly estimates and said tariff costs should be lower than previously forecasted.Shares of Newmont, the world’s largest gold producer, moved lower as prices of the precious metal fell from their all-time highs. Shares of a big U.S. automaker zipped higher Tuesday following better-than-expected earnings, while a top miner’s stock fell with a slip in gold prices. Major U.S. equities indexes finished the day mixed…

Key Takeaways OpenAI launched its AI-powered Atlas browser, which comes with ChatGPT built in, to macOS users Tuesday, with plans to roll it out to Windows, Android, and iOS users soon.The browser could challenge existing search leaders such as Google, which has already acknowledged OpenAI’s ChatGPT as a competitive threat. AI startup OpenAI is coming for Google’s Chrome. The ChatGPT maker and world’s most valuable private startup launched its highly anticipated AI-driven browser Tuesday, in a move that could challenge leading browsers like Google’s (GOOGL) Chrome. The new browser, Atlas, comes with the company’s flagship chatbot ChatGPT built in, eliminating…

Key Takeaways The U.S. economy faces increasing risks the longer the current government shutdown continues, economists said.The shutdown, which began Oct. 1, is now the second-longest in U.S. history, with no end in sight.Lost federal worker pay, lost contracts, lost services, and reduced consumer spending will all drag on the economy more the longer the shutdown continues, economists said. Past government shutdowns have been little more than speed bumps for America’s economic growth, but the longer this one drags on, the more economists fear it could be different.This shutdown could be more damaging than others given its potential to go…

The main U.S. equity indexes were mixed a day after all three posted gains of greater than 1%. The Dow Jones Industrial Average did hit a new high on an intraday basis, led by an old-school industrial stock, as markets digested more solid earnings and healthy guidance amid the ongoing government shutdown.Eight of the 11 official sectors closed in the red. Communication services stocks were among the collective losers, even though Warner Bros. Discovery (WBD, +11.0%) surged on takeover talk. And sector bellwether Netflix (NFLX, +0.2%) posted a modest gain ahead of its turn on the earnings calendar after Tuesday’s…

When you receive your 2026 Social Security payment is determined, with a few exceptions, by your date of birth. However, if you received Social Security before May 1997 or are receiving both Social Security & SSI, Social Security is paid on the 3rd and SSI on the 1st. If your payment date falls on a federal holiday or weekend, you can expect to receive that month’s payment on the weekday immediately prior.The official COLA increase has been delayed until this Friday. For now, we can take a look at 2026 COLA estimates that are based on two of the three…

Key Takeaways ChatGPT can be a resource for retirement planning questions, but it doesn’t replace the advice of a human financial advisor. When using ChatGPT for research, be sure to check the sources of the information ChatGPT is using to answer your question. Take your ChatGPT answers with you as you discuss your in-depth retirement plans with a human financial advisor. ChatGPT is ready for your retirement planning questions. It can provide answers on subjects such as deciding when to collect Social Security, estimating medical costs, and choosing which retirement accounts to tap first to minimize taxes. But should you…

KEY TAKEAWAYS Last week, the Department of Education said it is resuming loan forgiveness for borrowers under the Income-Based Repayment, Income-Contingent Repayment, and Pay as You Earn plans.Borrowers under the Saving for a Valuable Education plan are still unable to make payments that move them closer to forgiveness. However, they can transfer to an eligible plan to get their loans discharged. Student loan forgiveness is resuming, and borrowers who have been waiting months for their loans to be discharged are moving one step closer. The Department of Education agreed Friday afternoon to settle a class-action lawsuit in which a group…

Key Takeaways Netflix is scheduled to report its quarterly results after the closing bell Tuesday.Wall Street analysts widely expect the streaming giant to have benefited from a strong slate of content and higher prices, along with its efforts to grow its advertising business. Can Netflix keep up its recent momentum and maintain its reputation as a streaming winner? The company’s third-quarter results, due after the bell today, could show whether its investments in original shows, charging higher prices, and efforts to grow its advertising business have paid off, with Wall Street analysts generally bullish that the stock still has room…

Have you heard about the 2025 tax and spending megabill that President Donald Trump signed into law on July 4?This new law (Public Law 119-21 and referred to by Trump as the “big, beautiful bill”) reshapes many tax rules that individuals rely on. But understanding the various changes and their implications for taxpayers can be confusing.Essentially, the tax bill extends many of the lower tax rates and increased standard deduction base amounts from the 2017 Tax Cuts and Jobs Act (TCJA), which was enacted during Trump’s first term. As a result, some concerns about “tax cliffs”— key provisions initially set…