Author: Money Mechanics

Key Takeaways Hiring managers don’t think high school graduates are ready to enter the workforce, per a College Board and Chamber of Commerce survey.Fewer graduates are going straight to college as costs continue to rise, opting to start their career in non-traditional ways.A group of hiring managers said they value things like problem-solving and communication skills in prospective hires, along with internships and other leadership experience. More than 80% of hiring managers think current high school graduates are not adequately prepared to enter the workforce. The majority also thinks high school graduates are less prepared than previous generations, and prefer…

Key Takeaways Insurers must send seniors a formal notice of 2026 Medicare Part D and Part C plan changes, called an Annual Notice of Change (ANOC), between now and Sept. 30. ANOCs outline plan updates and help you decide if changes are needed before Medicare Open Enrollment. This year’s notices are especially important, with significant federal and industry changes that could affect coverage. Look for changes to your provider network, drug formulary, supplemental benefits, and out-of-pocket costs. If you’re no longer satisfied, compare and switch plans through Medicare.gov or with the aid of a trained volunteer or licensed broker. If…

Key Takeaways A key inflation report due Friday has gained new significance after a string of economic data shifted the outlook for a Fed rate cut.Several reports showed the economy is stronger than experts thought amid tariff pressures, potentially reducing the urgency for the Fed to cut rates.A hotter-than-expected inflation report could encourage Fed officials to keep the key fed funds rate high to fight inflation, which is running above the Fed’s goal of a 2% annual rate. Friday’s key report on inflation is even more significant after recent data showed the economy has been more resilient than expected in…

Key Takeaways Home Depot and Lowe’s shares look relatively elevated on a near-term basis, but Lowe’s appear to be a bit more realistically priced, Oppenheimer says.Analysts expect the housing market to thaw and home improvement to rebound, but are’t sure when that will happen. The market may be expecting too much from both Home Depot and Lowe’s, according to Oppenheimer analysts, but one of the home improvement retailer’s shares look a little less lofty. Shares of both companies are trading at relatively high prices, given that their sales will likely remain soft for some time, Oppenheimer analysts said Thursday. A…

Key Takeaways Mortgage rates have climbed after the Fed’s recent cut, reminding homebuyers that the two don’t always move in the same direction. Industry forecasts see 30-year mortgage rates holding in the mid-6% range through 2025, with dips to lower 6% territory by late 2026. Buyers may benefit more from finding the right home now and refinancing later rather than waiting for the “perfect” rate. The full article continues below these offers from our partners. Why Mortgage Rates Are Rising After the Fed’s Cut Relying on Federal Reserve rate cuts to bring mortgage relief hasn’t worked out well for buyers…

Key Takeaways Teachers have made less money than their fellow college graduates for decades, but the gap between those earnings continues to widen.A new paper from the Economic Policy Institute says the average teacher made about 73 cents for every dollar earned by a college-educated peer last year.Low pay is one of many factors exacerbating the current shortage of qualified teachers in the U.S. It’s no secret that teachers are underpaid as the profession remains one of the lowest-paying jobs for college graduates, but a new paper puts a number to the gap between the earnings of teachers and their…

Key Takeaways New-home sales jumped to an annual rate of 800,000 in August, topping economists’ expectations, as buyers took advantage of lower mortgage rates and builder incentives.Meanwhile, existing home sales declined slightly in August as prices remained high.A recent decline in mortgage rates helped home sales, which economists said could be even better in September if rates continue to fall. New homes are now more popular than existing homes, due largely to builder incentives and plentiful inventory, new data released this week showed. Sales of newly-constructed homes in August came in at an annual rate of 800,000, a 20% increase…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Jane Fraser has achieved a lot since she took over as Citigroup chief executive in March 2021. She has pared dismantled geographical silos, simplified business lines, cut jobs and made some big-name hires. On Wednesday, Citi said it would sell 25 per cent of its Mexican retail banking business, following divestment plans first proposed three years ago. This would all be great news — if only the rest of the industry had stood still.Citi’s stock has more than doubled in value since…

Key Takeaways Housing is often the biggest retirement expense, so a mortgage under $700 a month can make your income go further.Affordable options span the U.S., from Georgia and Virginia to South Dakota and Arizona.Some states—such as Pennsylvania and Iowa—don’t tax Social Security or other retirement income, which can also help stretch your money.Lower housing costs free up income for health care, travel, and leisure in retirement. The full article continues below these offers from our partners. Why an Affordable Mortgage Matters in Retirement The U.S. Bureau of Labor Statistics’ 2023 Consumer Expenditure Survey shows retired households spend about $5,000…

Tech giant Intel (INTC) benefited from the U.S. government taking a 10% stake in the company after it faced significant issues, notably falling behind in the artificial intelligence (AI) race. However, bigger news dropped when it was announced that Nvidia (NVDA) will invest $5 billion in its struggling rival. Through this partnership, Intel will develop custom chips for Nvidia’s AI infrastructure platform for data centers. Now, Nvidia’s investment has made the U.S. government’s stake much more attractive. The approximately $9 billion stake has now increased in value to more than $13 billion, with the government is up about 50%, or…