Author: Money Mechanics

Oil prices surged and the stock market’s “fear gauge” spiked as the war between the U.S. and Iran escalated again on Wednesday. Violence in the Middle East continues to impede traffic through the Strait of Hormuz, while even exponential growth for AI-related companies is letting down investors, traders and speculators.”We’ll be hitting them hard,” President Donald Trump told Fox News after Iran struck a U.S. base in Jordan. “They’re going to get a beating.” The front-month West Texas Intermediate crude oil futures contract was up 7.2% at $84.94 per barrel.The Cboe Volatility Index (VIX) rose from 18.21 on Tuesday to…

When beef prices climb, a restaurant like Chili’s or Applebee’s can advertise chicken specials and find ways to entice customers to order more affordable proteins. But when a chain focuses on one specific protein as part of its brand identity, its options become limited. Buffalo Wild Wings advertises boneless wing specials when bone-in prices rise, and WingStop, despite its name, sold chicken thighs in 2021 when wing prices skyrocketed, according to CNBC. Still, the more specific your offering, the harder it is to pivot. That’s what doomed a number of Texas BBQ restaurants recently, as the price of beef has…

Federal Reserve policymakers have voted to leave interest rates steady, despite growing concerns about inflation that prompted several officials to dissent in favor of a rate hike.Fed Chairman Kevin Warsh joined the majority on the 12-member Federal Open Market Committee in the 9-3 vote in favor of leaving the federal funds rate unchanged at Wednesday’s meeting in Washington, DC.Dissenting were Cleveland Fed President Beth Hammack, Dallas Fed President Lorie Logan, and Minneapolis Fed President Neel Kashkari, who all voted in favor of raising the overnight rate by a quarter percentage point. Seen as the FOMC’s most hawkish members on inflation, Hammack and Logan have voiced…

Sometimes the crowd isn’t so wise. When Ferrari revealed the Luce — its first EV — to the public in May, the internet reacted. And not in a positive way. Critics compared the wedge-shaped Luce with a Nissan Leaf and said Chinese EVs would outperform it while undercutting it on price. Even former Ferrari chair Luca Cordero di Montezemolo was among the haters. Ferrari’s stock dropped 8% the day after the reveal. Their conclusion: the Luce would be a dud. It turns out, the armchair auto executives were wrong about the five-seater that was largely designed by Jony Ive and his…

(BOE Report) – German state-controlled energy group Uniper on Wednesday finalised a 20-year liquefied natural gas purchase deal with Canada as the two nations deepen their partnership. In a preliminary deal in June, Uniper took initial steps to secure 2 million tons of gas per year from 2032 from Canada’s LNG project Ksi Lisims on British Columbia’s Pacific coast. That was after another German state-owned gas importer, SEFE, secured some Ksi Lisims capacity in May. Uniper already agreed on long-term purchases with Canada’s Tourmaline a year ago. Those deals reflect European ambitions to bolster alternative gas routes after former main supplier, Russia’s…

Article published at 9:10 a.m. CTJJ Kinahan is Senior Vice President, Head of Retail Expansion and Alternative Investment Products at Cboe Global Markets, Inc. (Cboe).Key Takeaways:Stocks turn lower as Mideast conflict flares upInvestors await Microsoft and Meta reports after the bellFed expected to hold interest rates steadyThis will be a heavy news day with a slew of earnings already released before the bell and another batch scheduled to hit after the session ends. The Federal Reserve’s rate decision is also on today’s busy agenda, coming out early this afternoon.The main event, however, is likely to come when Microsoft and Meta…

Everywhere you look, there’s a monthly plan. TV, movies and music. Software and cloud storage. Meal kits, pet supplies, workout apps, even car features.Subscription culture has moved from a niche corner of entertainment into everyday life, and that shift changes how we spend and save. Rather than asking, “Should I buy this?” we’re asking, “Does it fit into my monthly budget?”It’s not just one industry either. Streaming platforms changed how we watch TV. Software as a service (SaaS) flipped how we pay for business software. Health and fitness apps rely on recurring fees. Retail has boxes for everything: Razors, snacks,…

The original Financial Independence, Retire Early (FIRE) movement paved a path to early retirement through aggressive saving and extreme frugality. Today, many people view FIRE as a way to gain financial independence and flexibility, rather than retiring as early as possible.Many early FIRE advocates aimed to save 50% to 75% of their income, working toward a goal of accumulating about 25 times their annual expenses before retiring.But in today’s world of high housing prices, inflation and healthcare costs, the FIRE movement might feel impossible. While some individuals may have found financial independence through the FIRE movement, there’s a shift in…

1990s FOUR LAYER BIRTHDAY CAKE WITH RASPBERRIES AND STRAWBERRIES (Photo by J. Graham/ClassicStock/Getty Images)gettyAfter studying aging for decades, one of my conclusions is the importance of having a sense of humor. A recent article in the Wall Street Journal reminded me of this. The article described how past a certain age dinner reservations after 6:00 are considered late. In a group of couples, the familiar pattern is of men sitting at one end and women at the other. The conversations are about sports at one end and about grandchildren at the other. When the whole group is involved, the conversation…

I’ve used peer-to-peer services for years, and Cash App has become my go-to. Its combination of ease of use with expanded financial features exceeds what some traditional banks offer.Therefore, it’s no surprise that Kiplinger readers also think highly of the platform. Each year, Kiplinger holds its Readers’ Choice Awards, an online survey conducted in the winter, to learn which services and products you recommend most. For peer-to-peer payment services, we asked readers to rank their favorites based on ease of use, most recommended and overall satisfaction.With this in mind, I’ll show you three reasons why Kiplinger readers ranked Cash App…