Category: Economic News
The macro economy has a large impact on your personal finances. To help you manage your money better we track the import economic trends. Stay up to date so you can be prepared to adjust your personal finance strategies.
Economic News
Dow, S&P 500 Rebound to Near Record Highs
by Fioney Staff
For investors, August 2019 proved to be a roller coaster of a month. Following several erratic swings, both the Dow Jones Industrial Average and S&P 500 closed down from where they began on August 1, making for the second-worst month so far this year. With history suggesting that September is typically the worst month for stocks, hopes weren't too high when the month began but, nearly two weeks later, key... Economic News
ADP Report Shows 195,000 Payrolls Added in August
by Fioney Staff
Although fears of a recession have been in discussion for the better part of a year or more, that talk has heated up in recent weeks. From trade wars to inverted curves, there have been reasons to worry, leading The New York Federal Reserve to peg the chances that a recession hits in the next 12 months at 39% (according to CNBC). At the same time, as a new report... Economic News
Mortgage Refinances Soar as Interest Rates Fall
by Fioney Staff
Homeowners looking to decrease their monthly mortgage payments by refinancing at a lower interest rate may be in luck. However it seems the secret is already out. As CNN Business reports the number of homeowners refinancing their mortgages has boomed as the average mortgage rate reaches multi-year lows. According to the Mortgage Bankers Association, the average current interest rate on a 30-year fixed-rate mortgage of $484,000 is 3.93%. This marks... Economic News
Federal Reserve Cuts Interest Rates, First Time Since 2008
by Fioney Staff
This week the Federal Reserve voted to lower its key short-term interest rate by a quarter-point. The widely expected move marked the first time the Fed has cut rates in more than a decade, moving the new target to 2%-2.25%. As USA Today reports, the decision comes even as most economic indicators remain positive. In a statement released following the meeting, the Fed wrote, "This action supports the Committee's view... Economic News
U.S. Economy Grows 2.1% in Q2 2019
by Fioney Staff
With the United States economy currently enjoying its longest-ever expansion period, it would seem that each quarterly gross domestic product (GDP) report comes with enhanced emphasis. Thus this morning's release showing 2.1% growth for Q2 has been met with mixed reactions and analyses. For example, while the second quarter's 2.1% was a full point lower than Q1, it did "beat the street" as experts polled by MarketWatch had anticipated 1.9%... Economic News
U.S. Job Growth Rebounds in June
by Fioney Staff
Following a disappointing May jobs report (that just so happened to be released the same day President Trump canceled planned tariffs on Mexico), it seems that the United States jobs market bounced back in June. This morning the Labor Department released its latest report showing that the economy added a better-than-expected 224,000 jobs. That's nearly three times the 75,000 jobs added in the month prior. Additionally, despite the unemployment rate... Economic News
S&P 500 Enjoying its Best June Since 1955
by Fioney Staff
June 2019 may not have been the smoothest for the stock market but it is at least on track to end things on a high note. As CNN Business notes, the S&P 500 is likely to see its best June in more than six decades. This comes after weeks of rises and falls that hinged on matters of trade, interest rates, and more. Currently the S&P 500's gains for this...