Author: Money Mechanics

Key Takeaways The Jackson Hole conference will serve as a forum for Federal Reserve officials to signal whether the central bank will start cutting interest rates in September.Fed Chair Jerome Powell may also discuss whether the Fed is changing its inflation-fighting strategy, moving away from a flexible approach that failed to stop inflation from surging after the pandemic.Powell may also defend the Fed’s independence from political control amid increasing pressure from President Donald Trump. This year, the Jackson Hole conference in Wyoming is more than just a chance to see central bankers outside their natural habitat.The annual economics symposium, which…

U.S. stocks closed lower on Thursday, with the Dow Jones Industrial Average slipping 0.3% to 44,785.50, the S&P 500 losing 0.4% to 6,370.17, and the Nasdaq easing 0.3% to 21,700.31.These are the top stocks that gained the attention of retail traders and investors throughout the day:Cracker Barrel Old Country Store CBRLCracker Barrel shares dropped 7.15% to close at $54.80, reaching an intraday high of $56.85 and a low of $50.27. The stock’s 52-week range is $71.93 to $33.86. The company is facing backlash after unveiling a new logo and menu update, leading to potential boycotts from loyal fans. The changes, the…

Sdi Productions | E+ | Getty ImagesMortgage rates have declined in recent months, and with the potential for a Federal Reserve rate cut this fall, it’s smart for homeowners with high interest rates to start preparing for the opportunity to refinance, experts say.Last week, mortgage rates slightly edged higher. According to the Mortgage Bankers Association, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $806,500 or less, increased to 6.68% from 6.67% for the week ending Aug. 15.But generally, rates have been edging down, reaching a 10-month low earlier in August.Lower mortgage rates often result in…

Key Takeaways Fed rate cuts are expected soon, so today’s attractive deposit yields likely won’t last much longer. But by opening one of the best nationwide CDs, you can lock in a top rate for months or even years, guaranteeing a return that won’t drop when the Fed starts trimming. It’s important to do your homework and think through your goals and timeline before signing on the dotted line with any CD. A smart CD strategy also includes keeping a separate cash cushion in a top high-yield account you can tap instantly, so you’re never forced to break a CD…

Despite all the mayhem in the world today, the market has remained pretty resilient, hasn’t it? But even as summer is coming to a close and kids are going back to school, we’re only one short season removed from a market whipsaw of historic proportions. It was just in April (of this year) that the market suffered double-digit losses in only days—then recouped most of those losses in a single day, before ultimately ascending to new highs. So, while the sting of those sharp losses may have been dulled by the rebound, my inclination is to remind you of the…

Key Takeaways The Philadelphia Fed’s monthly manufacturing survey showed employers face the highest costs since May 2022.In response, regional manufacturers raised their expectations for costs while lowering their projections for worker pay.The survey highlighted how businesses are encountering price pressures that they could pass on to consumers. Things could be getting tougher for workers in the coming months, with prices rising and wages falling, according to a new survey of manufacturers. The Philadelphia Federal Reserve’s monthly manufacturing survey for August showed that firms were facing higher prices for materials and, in turn, were raising prices for their finished products. Moreover,…

Key Takeaways The number of continuing unemployment claims rose to its highest in nearly three years last week, adding to recent evidence the job market is slowing down.Layoffs remain low, indicating the economy is in a no hiring, no firing limbo. Employers are cutting back on hiring as tariffs impose new costs, several economists said. Official government data is starting to show what anyone looking for work has known for months: the labor market is getting tough for job seekers. The latest red flag came Thursday when the Department of Labor said 1.97 million people were collecting unemployment insurance the…

The Consumer Financial Protection Bureau (CFPB) is working to combat junk fees across the consumer financial marketplace. As companies are stopped from charging many of these fees, people are facing new risks as companies experiment with new sketchy fee tactics, which are often illegal.Some junk fees – like surprise overdraft fees – are charged by the company the person agreed to do business with, like a bank that provides checking accounts. The CFPB has also been focused on fees charged by companies that people never chose to interact with in the first place, such as loan servicers or debt collectors.…

Market participants took a cautious stance in Thursday’s session, with all eyes on Federal Reserve Chair Jerome Powell’s Friday morning speech at the Jackson Hole Economic Symposium.While the major stock indexes traded modestly lower throughout the day, there were more notable moves beneath the surface.It’s unclear at this point what Powell will say in his Jackson Hole speech, but Wall Street is hoping for hints of a September rate cut. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Save up to 74% Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best of expert advice…

Thanks to you, EnerCom Denver – The Energy Investment Conference® continues its legacy as the longest-running energy investment conference, and we look forward to many more years together. This year’s 30th anniversary event was one of our best yet. Your participation, feedback, and continued support made it possible—and we’re grateful for the tremendous engagement from across the energy industry. EnerCom has proudly supported the energy community since its inception, and your involvement helps us keep building on that tradition. Stay tuned—we’ll be sharing highlights and key stats from the conference The presenting company lineup: About EnerCom, Inc.: Founded in 1994, EnerCom,…