Columbus, OH

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Trailer Empire

The bond market has been buoyed by the Federal Reserve's recent hints that a rate cut may be on the horizon this September, leading to a noticeable drop in mortgage rates. Investors are reacting to the Fed's subtle language changes, anticipating a potential shift in monetary policy.

Mortgage Rates Plunge as Fed Signals Potential September Rate Cut

CBS San Francisco

Fear, long absent in financial markets as investors bet on a "soft landing" for the U.S. economy, is back in the air on Wall Street.Stocks tumbled Friday after new government data showed a steep decline in hiring in July, spurring concerns that economic activity is slowing faster than economists expected. Two hours into the session, the blue-chip Dow Jones Industrial Average was down 984 points, or 2.4%, to 39,415. The broader S&P 500 sank 2.5%, while the tech-heavy Nasdaq Composite lost nearly 3%, fueled by disappointing quarterly earnings from bellwethers such as Amazon and Intel. Market analyst Adam Crisafulli of Vital Knowledge...

Dow plunges nearly 1,000 points amid sharp drop in U.S. hiring

TheStreet

Markets seem to think the Fed has waited too long to cut rates. And they're selling stocks hard in response.

Stock Market Today: Stocks crushed as markets see Fed rate error

Stocks sold off Thursday, with the Dow Jones Industrial Average heading for its worst day of the year as new data raised fears of a potential U.S. recession. The Dow dropped 636 points, or nearly 1.6%. At its session lows, the 30-stock index lost 744.22 points, or about 1.8%. The S&P 50 shed 1.8%, while the Nasdaq Composite slipped 2.8%. The Russell 2000 index, the small-cap benchmark that has rallied lately, dropped 3.6%.

Dow slides 650 points, on track for biggest sell-off of 2024 over U.S. recession fears

The average American believes they'll need to save $1.8 million for their post-work years, according to Charles Schwab's "2024 401(k) Participant Study." However, most Americans in their 50s have much less than that stashed away for retirement. The average 401(k) account balance for people in their 50s is $212,400, as...

Here’s how much money Americans in their 50s have in their 401(k)s

The Biden administration is again gearing up to try to forgive the student debt of tens of millions of Americans, after the Supreme Court struck down its first effort last year. Now, the president has directed the U.S. Department of Education to pursue the regulatory process. In the coming days,...

Check your email: U.S. government is sending notes to millions on upcoming student-loan forgiveness

Chicago, IL

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Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Florida State

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Jacksonville Today

Republican Donald Trump has a 7-point lead over Democrat Kamala Harris among Florida voters, 49% to 42%, according to a new poll from the University of North Florida. Four percent are backing another candidate, and 6% are undecided or didn’t answer.

New Florida poll: Trump leads; support strong for abortion and recreational weed

This story is part of CNBC Make It's Six-Figure Side Hustle series, where people with lucrative side hustles break down the routines and habits they've used to make money on top of their full-time jobs. Got a story to tell? Let us know! Email us at AskMakeIt@cnbc.com. When Domonique Brown...

30-year-old’s side hustle makes $27,800 a month—it takes 2 hours a day and outearns her 9-to-5 job

Many Americans are pessimistic that Social Security benefits will be there for them when they retire. It is possible benefits will change to address a looming Social Security funding shortfall. But experts say the chances are slim that Social Security benefits will go away completely. Workers who pay into Social...

72% of Americans worry Social Security will run out in their lifetimes. Here's what experts say

Alabama State

Living in major U.S. cities means higher housing costs and less space for your money. And when the covid-19 pandemic sparked the rise of remote work, it caused many workers to second-guess living in a major metropolis like New York and San Francisco. Though some companies continue to push in-office...

6 places across the U.S. that will pay you thousands of dollars to move there

Kamala Harris, the de facto Democratic presidential nominee, has been relatively quiet about how she would approach antitrust issues if she were to win the White House against Donald Trump. Wall Street dealmakers said they think of Harris as a clean slate on big business regulation and a prime opportunity...

Kamala Harris has a murky antitrust record. Wall Street sees an opportunity

Kentucky State

Northern Kentucky Tribune

Kentucky’s Community Actions Partnerships have announced the starts date for the Low-Income Home Energy Assistance Program (LIHEAP) Summer Subsidy, aimed at helping Kentucky households offset summer cooling costs.

LIHEAP Summer Subsidy program to help with summer cooling costs to begin enrollment July 16

The average interest rate for a standard 30-year fixed mortgage is 6.77% today, a decrease of -0.08% over the last week. The average rate for a 15-year fixed mortgage is 6.21%, which is a decrease of -0.06% from the same time last week. For a look at mortgage rate movement, see the chart below.

Mortgage Rates Hit Lowest Point in Months Post Fed Meeting. Today’s Mortgage Rates, Aug. 2, 2024

California State

The HD Post

CALIFORNIA – Proposition 33, Justice for Renters Act, will be on the California ballot, November 5, for voters to decide on removing a rent control ban. According to Ballotpedia, a "yes" vote repeals the Costa-Hawkins Rental Housing Act (1995), which will allow cities and counties to limit rent on any housing.

Prop. 33 will allow California voters to decide on removing rent control ban

President Joe Biden is making another move to forgive student debt for millions of borrowers. The Biden-Harris administration announced Wednesday that it will begin emailing borrowers on Thursday with information regarding its proposed rules to allow the Secretary of Education to forgive debt for certain federal student loan borrowers. The...

President Biden is moving forward with another student debt relief plan—you have until August 30 to opt out

Fortune

Get ready for a bonanza of rate cuts from the Federal Reserve that starts in a few months and extends all the way into next summer, according to analysts at Citi Research. In a note on Friday, the bank cited fresh signs of a slowing economy for its view that the Fed will trim rates by 25 basis points eight times, starting in September and extending to July 2025.

The Fed could slash rates by 200 points over 8 straight meetings as the economy heads for a sharper downtrend, Citi says

Bucks County Beacon

Most Americans want Donald Trump to drop out of the race. Most Americans believe Trump is dishonest. Most Americans reject Trump’s vision for the country. And most Americans don’t trust Trump to handle a crisis.

AP-NORC Poll: About 60 Percent of Americans Want Trump to Withdraw from Presidential Race

Arizona State

Water scarcity remains a concern for people around the world. In fact, a 2022 Gallup poll revealed that 57% of Americans worry more about safe drinking water than global warming, air pollution, or the extinction of animal species. Americans are also using more water than ever before, according to J.D....

These U.S. states have the best and worst tap water: Washington ranked No. 1 while Arizona came in dead last

The Independent

Fears over a slowing economy heading into the election season mounted on Friday when federal officials released disappointing job numbers.The Labor Department stated that in July the economy added 1114,000 jobs - a figure that missed expectations, according to the Wall Street Journal. That is compared to the economy adding nearly 180,000 jobs in June.“Temperatures might be hot around the country, but there’s no summer heatwave for the job market,” Becky Frankiewicz, president of the ManpowerGroup employment agency, said, according to CNBC. “With across-the-board cooling, we have lost most of the gains we saw from the first quarter of the...

Economic recession fears grow after bleak jobs report and unemployment spike

NewsBreak

10-year Treasury yield dives to the lowest since December after weak jobs report

The 10-year U.S. Treasury yield dropped to its lowest since December after a weaker-than-expected jobs report for last month added to fears that economic growth is...

10-year Treasury yield dives to the lowest since December after weak jobs report

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