Author: Money Mechanics

FedEx shares jumped in extended trading Thursday after the shipping giant reinstated its full-year outlook. The shares were down nearly 20% for the year heading into Thursday’s report, weighed down when FedEx suspended its outlook in June amid concerns shipping demand could take a hit if higher tariffs lead to a pullback in Americans’ spending. Peer shipper UPS (UPS) held off on offering a full-year outlook in July. FedEx said it expects 4% to 6% revenue growth this fiscal year, above analysts’ estimates as compiled by Visible Alpha. Its forecast for adjusted earnings per share, a range of $17.20 to…

Key Takeaways Some headlines say mortgage rates dropped, but those reports reflect weekly averages of rates registered before the Fed’s latest meeting. In reality, daily mortgage averages rose yesterday—and are jumping even higher today. Mortgage rates don’t necessarily follow the Fed’s rate—they can rise even when the central bank makes a cut. Though the Fed lowered rates this week, uncertainty about further reductions has pushed 10-year Treasury yields higher, driving mortgage rates up. The full article continues below these offers from our partners. Why Some Headlines Said Mortgage Rates Were Falling As homebuyers watched to see what the Federal Reserve’s…

Imagine retiring with $90,000 less in your nest egg—not because of a bad investment, but because you forgot about old 401(k) accounts from past jobs. In today’s job market, where career transitions are the norm, many Americans are unknowingly leaving behind retirement savings that could cost them dearly. According to a recent PensionBee analysis, neglected 401(k)s could drain $90,000 or more from your retirement savings by retirement due to high fees, low returns, and missed growth opportunities. The good news? There are simple steps you can take to reclaim your savings.The Growing Problem of Forgotten 401(k)sThe Bureau of Labor Statistics…

Key Takeaways A new paper found that hospital mergers ultimately lead to higher mortality rates at consolidated facilities.  Hospital staff wages decline as the ratio of patients to staff rises, which jeopardizes the quality of patient care. The study suggests that the trajectory of U.S. hospital mergers is concerning and will cause more future harm to local communities as they continue. Hospital consolidation can also lead to higher health insurance prices nationwide. Hospital mergers are bad for Americans’ health, according to a new paper published by the National Bureau of Economic Research (NBER).   Using data from nearly 150 high-concentration hospital…

Key Takeaways The Centers for Disease Control and Prevention (CDC) could soon make it more difficult for older adults to get COVID-19 vaccines covered by insurance.The Advisory Committee on Immunization Practices (ACIP) is expected to consider raising the age older adults are recommended to receive the vaccine to 75 from 65 when the group meets Friday.ACIP’s members were appointed by Health and Human Services Secretary Robert F. Kennedy Jr., who has publicly criticized vaccines.Insurers are not required to cover vaccines for people outside the CDC’s recommended group, though some companies have pledged to continue coverage through 2026. Older adults who want…

It was a record-setting session on Wall Street Thursday thanks to a big rally in tech stocks. Even small caps came along for the ride, with the Russell 2000 notching its first new record high in nearly four years.At the close, the blue chip Dow Jones Industrial Average was up 0.3% at 46,142, the broader S&P 500 had gained 0.5% to 6,631, and the tech-heavy Nasdaq Composite had added 0.9% to 22,470 – new record closing highs.Not to be left out, the Russell 2000 – an index made up of small-cap stocks – was 2.5% higher at 2,467, surpassing its…

By Tatiana Bautzer NEW YORK (Reuters) – Morgan Stanley is combining two investment banking teams, Global Energy and Global Power and Utilities, into a new Global Power and Energy Group, according to an internal memo sent to the investment banking division on Wednesday, a copy of which was seen by Reuters. The group co-heads will be Jon Fouts and Michael O’Dwyer and the merger of the teams aims to adapt to the changes in the global energy landscape, with accelerating demand for power from both traditional and renewable sources, the memo said. Fouts has been global head of power and…

The small-cap rally just got real. The Russell 2000, America’s small-cap benchmark as tracked by the iShares Russell 2000 ETF IWM, just smashed through old records, hitting 2,470 points on Thursday and topping its November 2024 high. The move came one day after the Federal Reserve cut interest rates by 25 basis points, and hinted that more cuts could be coming soon—a clear green light for small, interest-rate-sensitive companies.Chart: Small Caps Smash Prior Records Set In November 2021 And 2024It’s a notable reversal for a part of the market that’s lagged for much of the post-COVID bull run.But since the…

In the wake of its announcement that Swiss Re is bringing together its insurance-linked securities (ILS) investment management operations under the Swiss Re Insurance-Linked Investment Advisors Corporation (SRILIAC) brand, Artemis spoke with senior executives from the Alternative Capital Partners (ACP) division of the reinsurance company.We spoke with Chris Minter, Head Alternative Capital Partners, and Mariagiovanna Guatteri, CEO and CIO of SRILIAC, to explore what the changes mean and to get their updated views on the ILS opportunity for a global reinsurance company like Swiss Re and how they view the state of the market. In our interview they explained that…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. September 18, 2025 Federal Reserve Board issues enforcement actions with former employee of First Horizon Bank and former employee of Manufacturers and Traders Trust Company For release at 11:00 a.m. EDT The Federal Reserve Board on Thursday announced the execution of the enforcement actions listed below: Consent prohibition order against Jermal McGlown Former employee of First Horizon Bank, Memphis, Tennessee Misappropriation of customer data Consent prohibition order against Rahimlen Dean Former employee of…