New York CNN Business: – High prices and rising interest rates are putting used cars out of reach for a growing number of car shoppers. That’s bad news for CarMax, the nation’s largest used car dealer. CarMax reported Thursday that its earnings plunged 54% as the number of cars it sold in the quarter fell …
Mortgage rates surged for the sixth week in a row, moving closer to 7%. The 30-year fixed-rate mortgage averaged 6.70% in the week ending September 29, up from 6.29% the week before, according to Freddie Mac. That’s the highest level since July 2007. Mortgage rates have more than doubled since the beginning of this year …
Interest rate hikes by the Federal Reserve as it struggles to rein in inflation have spurred expectations of a recession and the related negative implications for oil prices. Now, economists expect the Fed to hike higher than previously thought and fears of a recession are growing. A poll conducted by Reuters suggested that the Fed …
Bad News For Oil Prices As Economists Predict Aggressive Action From The Fed Read More »
This story is part of CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. new York CNN Business — All the drama out of the UK government is keeping me from catching up on the only UK drama I really want to consume, which is Love Island, season 8, …
Markets in a tailspin get a big dose of chill from the Bank of England Read More »
OPINION AND COMMENTARY Editorials and other Opinion content offer perspectives on issues important to our community and are independent from the work of our newsroom reporters. It is September, the campaign season is in full swing, candidates are knocking doors and meeting people at public events – and already, I am tired. I’m tired of …
Biden, Democrats gaslight voters on inflation, border, crime Read More »
WASHINGTON (AP) — For the first time in a decade, Americans will pay less next year on monthly premiums for Medicare’s Part B plan, which covers routine doctors’ visits and other outpatient care. The rare 3% decrease in monthly premiums is likely to be coupled with a historically high cost-of-living increase in Social Security benefits …
Millions of Americans will save on Medicare fees next year Read More »
NEW YORK (AP) — Stocks rose in morning trading on Wall Street Tuesday a day after a broad sell-off sent the Dow Jones Industrial Average into a bear market to join other major US indexes. The S&P 500 rose 1% as of 10:22 am Eastern. The Dow rose 219 points, or 0.8%, to 29.498 and …
Stocks gain ground a day after Dow entered a bear market Read More »
LOS ANGELES (KABC) — The average price of a gallon of self-serve regular gasoline in Los Angeles County rose 4.1 cents Monday to $5.84, its 24th consecutive increase. The average price has increased 59.4 cents over the past 24 days, including 11 cents Sunday, according to figures from the AAA and Oil Price Information Service. …
Southern California gas prices continue to rise sharply Read More »
Jerome Powell, chairman of the US Federal Reserve, arrives to speak during a news conference … [+] following a Federal Open Market Committee (FOMC) meeting in Washington, DC, US, on Wednesday, Sept. 21, 2022. The Fed has two remaining meetings scheduled in 2022 to set interest rates. Here’s what the market expects. Photographer: Sarah Silbiger/Bloomberg …
The Schedule For The Remaining 2022 Fed Decisions And What The Market Expects From Them Read More »
LOS ANGELES (CNS) — The average price of a gallon of self-serve regular gasoline in Los Angeles County rose for the 22nd consecutive day, increasing 7.4 cents Saturday to $5,689. The average price has increased by 44.3 cents over the past 22 days, according to figures from the AAA and Oil Price Information Service. It …
Southern California gas prices are skyrocketing again Read More »
