Author: Money Mechanics

Question: My car is 10 years old. Should I drop down to minimum coverage on my car insurance?Answer: The 10-year mark is a good time to reevaluate your car insurance needs, but there’s more to making coverage decisions than your car’s age alone. According to Bankrate, the national average cost of full coverage car insurance is $2,679 while minimum coverage averages just $808.Dropping your coverage has the potential to lower your insurance premiums by around $1,800. Whether that $1,800 per year in savings is worth the increased risk you face by not having comprehensive or collision coverage will depend on…

Consumer protection law has long been a core part of keeping markets fair and competitive. And the consumer protection framework has always been a partnership between the federal government and the states. As our markets change, our federal and state laws must keep pace to deal with predatory practices, new actors, and other risks. Today, the CFPB released a report on how states can ensure their laws and regulations meet new consumer protection challenges, as well as a compendium of guidance documents that the CFPB has issued in recent years to address emerging challenges in the market for consumer financial…

Technology took it on the chin Tuesday, with sector bellwether and AI revolutionary Nvidia (NVDA) giving back 3.5% and $154 billion in market capitalization. But it was a broadly “risk off” market again as participants evaluate earnings and incoming data and await more words from the Federal Reserve.The Roundhill Magnificent Seven ETF (MAGS), which includes NVDA as well as Microsoft (MSFT), Apple (AAPL), Meta Platforms (META), Alphabet (GOOGL), Amazon.com (AMZN), and Tesla (TSLA), was down 1.6%.All of the Magnificent 7 stocks were lower on the day, and Nvidia was No. 30 among the 30 Dow Jones stocks. But a combination…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. July 10, 2025 Federal Reserve Board requests comment on targeted proposal to revise its supervisory rating framework for large bank holding companies to address the “well managed” status of these firms For release at 2:15 p.m. EDT The Federal Reserve Board on Thursday requested comment on a targeted proposal to revise its supervisory rating framework for large bank holding companies to address the “well managed” status of these firms. The revisions would better…

(World Oil)– Canadian oil sands companies have found a way to ramp up production in the face of oil prices: curtailing lengthy repairs to equipment.   Canadian Natural Resources Ltd., Imperial Oil Ltd. and others are extending maintenance cycles to two-years from one, which saves on capital expenditure, increases output and effectively offsets declining profits from crude prices that have fallen 11% in the past year. Suncor Energy Inc., meanwhile, completed a major coke-drum replacement at its Base Plant more than 3 weeks faster than planned, allowing the company to cut capex guidance by C$400 million in 2025. The efficiency…

Key Takeaways Intel on Monday said Japanese investment giant SoftBank had agreed to buy $2 billion of the chipmaker’s stock, boosting hope on Wall Street that the Trump administration and allies will throw the beleaguered chipmaker a lifeline.Tech analyst Patrick Moorhead said the SoftBank deal may pave the way for more deals with potential foundry customers, and could signal SoftBank’s own chip ambitions.UBS analysts said in a note Tuesday that Intel stock could reach $40—up from $25 on Tuesday—if the White House can entice companies to contract with Intel’s foundries. Intel (INTC) shares jumped on Tuesday as investors responded to…

Key Takeaways Economic uncertainty has deterred homeowners from doing larger renovations, though the outlook may be getting clearer now that a tax policy is in place, Home Depot CEO Edward Decker said.Still, the home improvement supplier said its forecast assumes there won’t be a resurgence in projects that require borrowing.Relatively high interest rates remain a hurdle, CFO Richard McPhail said. Homeowners may have reason to be more comfortable financing renovations, but Home Depot isn’t counting on a shift in their mindset. Some of the economic uncertainty giving homeowners pause faded when the federal government enacted a tax policy, Home Depot…

Key Takeaways The Fed will likely cut interest rates next month, lowering what savers can earn on cash in the bank. Right now, top high-yield savings and money market accounts pay up to 5.00%. High-yield checking accounts can pay even more, if you’re willing to meet a few requirements. The best nationwide CDs can lock in today’s mid-4% rates for months or years, protecting you from future Fed cuts. A smart strategy is pairing a flexible account with one or more CDs, keeping cash accessible while maximizing returns. The full article continues below these offers from our partners. Interest Rates…

The first days of public trading for Figma (NYSE: FIG) have been a study in market extremes. After being priced at $33 per share for its Initial Public Offering (IPO), the stock exploded, surging over 250% to a high of $142.92 on its first day. This euphoria was quickly met with a dose of reality, as the stock saw a sharp correction in the following sessions. Volatility has left investors asking a critical question: Is Figma a revolutionary company priced for a perfect future, or a high-risk investment whose initial hype has outpaced its fundamentals? A detailed examination of the…

Expenditures by foreign direct investors to acquire, establish, or expand U.S. businesses totaled $151.0 billion in 2024, according to preliminary statistics released today by the U.S. Bureau of Economic Analysis. Expenditures decreased $24.9 billion, or 14.2 percent, from $176.0 billion (revised) in 2023 and were below the annual average of $277.2 billion for 2014–2023. As in previous years, acquisitions of existing U.S. businesses accounted for most of the expenditures.Expenditures in 2024 for acquisitions were $143.0 billion, expenditures to establish new U.S. businesses were $6.3 billion, and expenditures to expand existing foreign-owned businesses were $1.8 billion. Planned total expenditures, which include…