‘Bubblicious’ used car prices are rising faster than bitcoin, market researcher Jim Bianco warns

Your car may be more valuable than what’s in your portfolio. Used auto prices are rising faster than bitcoin and other assets, according to market researcher Jim Bianco. “If you want to know what the best investment you probably had in 2021, it’s that car sitting in your driveway or in that garage,” the Bianco … Read more

‘Cash could be your friend’: Wilmington Trust sees a deeper pullback providing better opportunities for investors

The stock market’s volatility jump may be in its early stages. Despite a bullish 2022 outlook, Wilmington Trust’s Meghan Shue expects the wild swings to ramp up as investors digest a less accommodative Federal Reserve and assess new risks tied to the Covid omicron variant. “While we’re overweight to equities, we’re holding elevated cash because … Read more

Uber-owned Careem gets in on the surging rapid grocery delivery market with UAE launch

A Careem Quik driver ready to deliver a grocery order in Dubai, the United Arab Emirates. Careem Ride-hailing app Careem, a subsidiary of Uber Technologies, is joining the fast-growing “dark stores” space with the launch of its new rapid grocery delivery service, Careem Quik. The service, which combines the warehouse infrastructure of purpose-built stores with … Read more

Market is ‘one more bad inflation report’ away from a correction, Wharton’s Jeremy Siegel warns

Long-term market bull Jeremy Siegel expects a serious pullback that it isn’t tied to the Covid-19 surge risks. His tipping point: a drastic change in Federal Reserve policy in order to deal with hot inflation. “If the Fed suddenly gets tougher, I’m not sure that the market is going to be ready for a U-turn … Read more

If you don’t get a 6% raise, are you taking a pay cut due to inflation? Here’s what experts say

A worker helps a customer at the Presidente Supermarket in Miami on April 13, 2020. Joe Raedle | Getty Images Workers across the U.S. are wondering how rising inflation might be impacting their take-home pay. Inflation has risen more than expected. In October, consumer prices increased 0.9% and pushed the year-over-year gain to 6.2%, hitting … Read more

Consumer price index surges 6.2% in October, worse than expected and the highest since December 1990

Inflation across a broad swath of products that consumers buy every day was even worse than expected in October, hitting its highest point in more than 30 years, the Labor Department reported Wednesday. The consumer price index, which is a basket of products ranging from gasoline and health care to groceries and rents, rose 6.2% … Read more

Social Security cost-of-living adjustment will be 5.9% in 2022

The Social Security cost-of-living adjustment will be 5.9% in 2022, the Social Security Administration announced on Wednesday. The 5.9% COLA will be the biggest boost to Social Security beneficiaries’ checks in about 40 years. In 2021, the Social Security COLA was 1.3%. More than 64 million Social Security beneficiaries will see the increases in their … Read more

As demand surges and prices rise, here are 7 ways to save on travel this summer

Erik Isakson | Tetra images | Getty Images Americans want their summer vacations. After a year of being pent up during the pandemic, 80% said they are ready to travel, according to a recent survey by tourism market research firm Destination Analysts. However, with that demand comes higher prices. Airline tickets are up 7% for … Read more

How to cut costs at the pump as gas prices keep rising

romrodinka | iStock | Getty Images You may already have noticed that you’re spending more to fill your car’s gas tank. Don’t be surprised if the price keeps ticking higher. The national average cost for a gallon of gas has increased by about 18 cents over the last two weeks, on the heels of reduced … Read more

Euro zone economy posts record slump in second quarter, inflation ticks up

BRUSSELS – The euro zone’s economy recorded its deepest contraction on record in the second quarter, preliminary estimates showed on Friday, while the bloc’s inflation unexpectedly ticked up in July. In the months from April to June, gross domestic product in the 19-country currency bloc shrank by 12.1% from the previous quarter, the European Union‘s … Read more