Author: Money Mechanics

A stronger-than-expected jobs report is likely to push mortgage rates up a bit, but the impact will be small. The strong labor market may also bring some house hunters off the sidelines.  Takeaway: An upbeat January jobs report will increase mortgage rates slightly, reversing yesterday’s small decline, which was driven by disappointing retail sales data. Today’s data is unmistakably positive, pointing to a stronger labor market than other metrics have indicated. 130,000 jobs were created in January, with 172,000 in the private sector (the government lost jobs). This is the largest monthly increase since December 2024. Forecasters had expected a…

On Wednesday, xAI took the rare step of publishing a full 45-minute all-hands meeting video on X, making it publicly accessible. Details of the Tuesday night meeting were previously reported by The New York Times, which may have influenced xAI’s decision to post the video online. The full video reveals significant new details about Musk’s plans for the AI lab, including its product roadmap and its ongoing ties to the X platform. The most immediate revelation concerned a string of departing employees, which Musk described as layoffs resulting from a changing organizational structure at the company. While reorganizations are common,…

(Investing) – HOUSTON – Venezuela is hosting U.S. Secretary of Energy Chris Wright starting on Wednesday, marking the highest-level U.S. visit focused on energy policy to the OPEC nation in nearly three decades, as Washington conducts its first on-the-ground assessment of the oil industry it is proposing to rebuild. Wright landed in Caracas on Wednesday morning, a day after the U.S. issued a new general license to facilitate the exploration and production of oil and gas in Venezuela. His agenda is expected to include meetings with interim President and Oil Minister Delcy Rodriguez, government officials and executives from companies including  and Spain’s ,…

By Steven Scheer and Suzanne McGee TEL AVIV/PROVIDENCE, Rhode Island, Feb 10 (Reuters) – Israel fund manager FINQ said on Tuesday it was entering the U.S. Exchange-Traded ​Funds market with two funds that will be solely managed by artificial ‌intelligence, a nascent sub-sector where so far AI has only been used as a supporting tool. Portfolio decisions will ‌be fully selected and managed by FINQ’s AI model, with human involvement focused only on oversight and governance, it said. It added that its AIUP and AINT U.S. large-cap equity ETFs were the first such funds to be approved by the Securities…

Key PointsDelinquencies in commercial mortgage-backed securities rose again in January, up 17 basis points from December to 7.47%, according to Trepp.The increase was driven by the beleaguered office sector, which has a lot of distressed properties to work through but is seeing improvements in fundamentals. The rate increase was driven by two exceptionally large New York City properties: Worldwide Plaza and One New York Plaza. A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds,…

Key Takeaways Applied Materials is slated to report its latest quarterly results Thursday afternoon, with traders expecting the stock could climb to new highs after the report.Sales and profits are expected to decline year-over-year amid trade headwinds, though analysts said they see meaningful improvement from when the company last reported results in November. Applied Materials is set to post fiscal first-quarter earnings after the market closes on Thursday, with traders anticipating the semiconductor equipment maker’s stock could reach new highs following the results. Options pricing suggests traders expect Applied Materials (AMAT) shares could move about 6% in either direction. A…

Key Takeaways While you typically need a visa to move outside the U.S., many countries have relatively low barriers to entry.Working remotely often opens up your options, since you may not need a work visa and can instead qualify for more flexible digital nomad options.Long-term visas typically have income and/or savings requirements that vary significantly by country. Moving out of the U.S. can hold allure for those wanting to experience a different culture, a better climate, a lower cost of living, or many other factors that influence where you live. However, you generally can’t just buy a plane ticket and…

Key Takeaways Americans who are 55 to 64 years old have a median household income of $82,150, according to Fed data.Earnings vary widely across groups, with homeowners and college graduates far outpacing renters and those without a degree.Even when earnings are high, your ability to retire comfortably depends on additional factors such as total savings, assets, pensions, and debt. According to the Federal Reserve’s (Fed’s) Survey of Consumer Finances, income typically rises through midlife before leveling off in your late 50s and early 60s. Seeing how your earnings and savings compare with others your age can help you gauge where…

Key Takeaways If your household income was between $55,262 and $167,460 in 2024, you are generally considered part of the middle class.Being middle class isn’t just about your income, though. It’s also about your household size, your location, and your overall financial situation.The same salary might feel different from place to place due to the cost of living around the country.Strengthening your finances through budgeting, saving, and debt management is essential to feeling financially secure, no matter your income. According to the Pew Research Center, middle class, three-person households earn between two-thirds and double the national median income, which was…

Key Takeaways Companies in the financial sector were the latest casualty of perceived AI-disruption fears.While some fears may appear overblown, it doesn’t help that AI impact has become more measurable recently, making those concerns easier to quantify. This week it was financials. Last week it was software and legal services. Perhaps next week something else will be crushed by fears of AI disruption. Investors appear to have pivoted from worrying about AI getting over its skis in valuation terms, to fretting about what it could displace—and selling it. Between Anthropic’s unveiling of an AI model the company said would be…