Finance

Consumer spending increased 0.4% in May, a modest gain that suggests Americans remain confident enough about the economy’s outlook to keep shopping. The Commerce Department said Friday that incomes rose 0.5% and inflation remained tame, increasing just 1.5% in the past year. That’s far below the Federal Reserve’s target of 2%. Consumer confidence slipped this […]

It’s tough to decide when to start taking Social Security benefits and it appears many people are shorting themselves with their choice. A new study finds that only 4% of retirees start claiming their Social Security benefits at the most financially optimal time. And current retirees collectively will lose $3.4 trillion in potential income to

Asian stocks sank Friday as investors waited for a meeting between Presidents Donald Trump and Xi Jinping that they hope will produce a truce in spiraling U.S.-China trade tensions. Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney all fell. Crude prices declined. Investors are hoping for a repeat of Trump and Xi’s December agreement to

More Americans signed contracts to purchase homes in May compared with the prior month, a sign buyers may be ready take advantage of low interest rates and stabilizing home prices. The National Association of Realtors says that its pending home sales index rose 1.1% to a reading of 105.4. Home sales have been slowing even

The average age of cars and trucks in the U.S. has hit a record 11.8 years, as better quality and technology allows people to keep them on the road longer. The 2019 figures from data provider IHS Markit show that the rate of increase is slowing, but the average age is still expected to go

If you’re brave or lazy enough to be a totally hands-off investor, congratulations, you’ve got a nice surprise coming. When you open your second-quarter account statements, you’ll likely notice a bump higher from three months earlier. Most types of investments did well from April through June, with U.S. stocks setting record highs, bond funds packing

Not all the news is dire. Many American chip makers are experiencing strong sales to customers other than Huawei. Over time, they also expect to pick up more sales from Huawei’s rivals as those companies increase market share. And some analysts predict a new trade pact with Beijing in coming months. “I really think it’s

The latest on developments in financial markets (all times local): 4 p.m. The S&P 500 index broke a four-day losing streak thanks to gains in banks and health care companies, but a drop in Boeing pulled the Dow Jones Industrial Average slightly lower. Wells Fargo rose 1.1% Thursday and AbbVie, which is buying fellow drugmaker

A trade group representing hundreds of airlines pushed again for additional training on Boeing’s 737 Max plane and for a coordinated effort to ensure the safe return of the aircraft after two deadly crashes. If additional training is required, including the possible introduction of simulators for the Max, it could come at a tremendous cost

U.S. long-term mortgage rates fell this week. It was the seventh decline in the past nine weeks for the key 30-year, fixed-rate loan, which reached its lowest level since November 2016. Mortgage buyer Freddie Mac said Thursday the average rate on the benchmark 30-year mortgage fell to 3.73% from 3.84% last week. By contrast, a