Dow Set to Stabilize After Dropping Over 500 Points
Your Cheddar hosts Kristen Scholer and Tim Stenovec bring you today's top financial news headlines. From a market sell-off to consumer spending, we have you covered!
Global stocks mostly steadied on Wednesday in pre-market trading, keeping major equity benchmarks on pace for monthly gains. Futures point to a higher open for the Dow after rising bond yields and pressure on the healthcare sector sent it to its biggest daily drop since May on Tuesday.
Plus, strong job prospects and a general upswing in the market in recent months have triggered a decrease in saving for many Americans. According to the Commerce Department, an increase in consumer spending in December led to a 12 year low in the U.S. household saving rate. This was the lowest saving rate since the height of the housing boom in the early 2000s.
You might already be planning your Thanksgiving menu as the holiday approaches. Some retailers are offering deals that could help your pockets as you budget for those large family gatherings.
Jade Warshaw, personal finance expert and co-host of 'The Ramsey Show, joined Cheddar News to provide tips on how to save on engagement rings and to look at cheaper alternatives.
As the country watches the financial situation and monitors decisions from the Federal Reserve, many may be re-evaluating what to do with their money, with interest and mortgage rates at some of the highest levels seen in decades. Mark Hamrick, Washington bureau chief and senior economic analyst with Bankrate, joined Cheddar News to provide tips on your money management as monetary policy continues to change.
A Dutch recruitment firm found that only 42% of employees who have been laid off this year actually received severance, down from 64% who received severance in 2021.
