Author: Money Mechanics

Key Takeaways For those keen on retiring in the Midwest, cities in South Dakota, Ohio, Missouri, Iowa, Indiana, and Michigan are included in our list of top picks. The biggest draw of retiring in the Midwest is definitely affordability; it’s possible to get a spacious three-bedroom house for what you’d pay for a tiny apartment in a coastal city.Daily expenses, from groceries to utilities, typically cost less, too. This isn’t just about saving money though; it’s about having the freedom to actually enjoy retirement.  The Midwest offers a pretty neat retirement package when it comes to stretching your dollars. In many…

Key Takeaways The Federal Reserve has been reluctant to cut rates too much because it is concerned that Trump’s tariffs are pushing up consumer prices and risk stoking inflation.Inflation is still above the Federal Reserve’s target of a 2% annual rate and has risen in recent months as Trump’s sweeping campaign of import taxes has gone into effect.Stephen Miran, the newest member of the Fed’s policy-setting committee, said that Trump’s mass deportations would soon push down inflation and that tariffs were not pushing prices up. This view starkly differs from that of other economists and Miran’s fellow members of the…

All three main U.S. equity indexes traded at all-time highs early in the final trading session of an eventful week, with markets tuned into talks between U.S. President Donald Trump and Chinese President Xi Jinping.Momentum ebbed into the noon hour as participants continued to digest the Fed’s rate cut. But it was all “risk on” into the closing bell and the weekend as details of the Trump-Xi phone call emerged.”I just completed a very productive call with President Xi of China,” President Trump wrote in a post on Truth Social. “We made progress on many very important issues including Trade,…

Key Takeaways Rep. Haley Stevens (D-MI) recently introduced the “No Tariffs on Groceries Act,” which would require congressional approval before the president can impose grocery tariffs. The proposal comes as grocery inflation remains elevated, with the Yale Budget Lab estimating that tariffs will raise food prices by 3.4% in the short run. However, the Supreme Court is already set to weigh in on the legality of many of President Donald Trump’s tariffs later this year, which will determine whether some tariffs will remain. One congresswoman is trying to mitigate the impact that tariffs have on people’s grocery budgets. This week,…

After nearly half a century at the company he co-founded, Jerry Greenfield of Ben & Jerry’s is officially stepping down. His departure comes 47 years after he and Ben Cohen started scooping ice cream in a renovated gas station in Burlington, Vermont. Over the decades, Ben & Jerry’s became more than just an ice cream brand. It stood for quirky flavors, community values and social activism.Greenfield’s exit is a reminder that even when you’ve poured decades into building a career or business, there comes a point when moving on is the right choice. And it’s not always about age or…

Key Takeaways According to a recent note from Bank of America strategists, the Magnificent Seven stocks, despite their massive run-up over the past few years, have yet to reach the levels that historically have signaled peak bubble.The Mag 7 has rallied about 60% from its low point this year in early April, boosted by AI optimism, healthy earnings, and anticipation of lower interest rates.BofA strategists suggest investors may be able to hedge against a tech bubble by going long on cheap, distressed equities and shorting the debt of richly priced tech companies. The AI-driven rally in big tech stocks has…

Key Takeaways The Russell 2000, the benchmark index of small-cap stocks, this week closed at a record high for the first time in years as the Federal Reserve moved into a rate-cutting regime.Some analysts expect the category to outperform in the near term, given relatively low valuations compared to historical averages and large-cap peers.The iShares Russell 2000 ETF has outpaced the iShares Russell 1000 ETF—a measure that tracks bigger companies—in the past three months. The little engines that could just did. The Russell 2000 index ended yesterday at 2467.70, setting a fresh closing high for the first time since 2021.…

A mortgage refinance can provide various advantages, like reducing monthly payments, shortening a loan term, switching to a fixed-rate mortgage, or accessing cash for home renovations or other expenses.These benefits have become particularly attractive to homeowners recently as anticipation surrounding the interest rate cut by the Federal Reserve in September drove down mortgage rates. And that led to a surge of refinancing applications and the strongest week of borrower demand in decades, according to the Mortgage Bankers Association (MBA).“Homeowners with larger loans jumped first,” said Mike Fratantoni, MBA’s SVP and Chief Economist, regarding their weekly survey of mortgage applications for…

Key Takeaways Shares of Netskope surged Friday, extending gains after making their debut on the Nasdaq Thursday.The cybersecurity firm sold 47.8 million shares at $19 each in its initial public offering, at the top end of its expected range.CEO Sanjay Beri said he expects going public could help Netskope boost its credibility and customer awareness. Shares of Netskope (NTSK) surged Friday, extending gains after making their debut on the Nasdaq Thursday. The stock was up close to 7% around $24 in recent trading, after finishing Thursday’s session 18% above their initial public offering (IPO) price of $19 per share. The…

Question: I’m 55 and have 10 years until retirement. I’ve made $2 million on Nvidia stock. What do I do with it now?Answer: Nvidia (NVDA) has been one of the great success stories of our time.The company started out as a niche maker of specialized chips for video-game enthusiasts. Today, its chips are powering the artificial intelligence (AI) revolution. Without Nvidia, there wouldn’t be an AI revolution. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed investor. CLICK FOR FREE ISSUE Sign up for Kiplinger’s Free Newsletters Profit and prosper with the best of expert advice…