Personal Finance

Stocks are doing something they haven’t done in more than 60 years

The S&P 500 is trading in a way it hasn't for decades. What does this mean for markets this year?

Pros call the stock market’s parabolic up move this year a ‘melt-up’ and they think it can keep going

Mike Santoli looks at what such a strong, broad, and unceasing market climb tends to mean for what's ahead.

January’s rocket market rise doesn’t mean the bull market is near its end

CNBC's Mike Santoli looks at what such a strong, broad and unceasing market climb tends to mean for what's ahead.

Apple is about to halve its first-quarter iPhone X production target

Apple has notified suppliers that it will halve its iPhone X production target for the first quarter to around 20 million units, Nikkei reported on Monday.

Freed Saudi billionaire Prince Alwaleed says corruption detention was a ‘misunderstanding’

Saudi Arabian billionaire businessman Prince Alwaleed bin Talal has been freed after a high-profile detention during a crackdown on corruption, describing his arrest as a “misunderstanding.” Speaking to Reuters just ahead of his release Saturday, Alwaleed said that there were no charges against him following his arrest as part of a nationwide crackdown on corruption last November. “There are no charges. There are just some discussions between me and the government. Rest assured this is a clean operation that we have and we’re just in discussion with the government on various matters that I cannot divulge right now. But rest assured we are at the end of the whole story. And I’m very comfortable because I’m in my country, I’m in my city, so I feel at...

Millennials, this retirement hack is for you

With the new tax law, there’s one retirement tool that’s never looked better: The Roth IRA. While Roths are not new, they are worth a second look following passage of the Tax Cuts and Jobs Act — especially for those in the gig economy, without an employer-sponsored 401(k) plan. These workers are likely in a lower tax bracket, and have the great advantage of time (especially the young). Interest in Roth IRAs is gaining steam among those who want to take advantage of their current lower tax rate, said Craig Copeland, a senior research associate at the Employee Benefit Research Institute, an independent organization that provides research on employee benefits. Find your new tax brackets under the final GOP tax plan One of the key differences between traditional IRAs and Roth IRAs ...

How getting remarried can mess up your Social Security

You may want to rethink that second walk down the aisle if you are approaching retirement, and counting on income from Social Security. If you’re eligible to collect benefits on your ex-spouse’s record, you will no longer be eligible for those benefits if you remarry. That rule, plus others, is one of the reasons financial advisors like Stacy Francis, president and CEO of Francis Financial in New York City, sit down with savers to plot out a careful strategy when it comes to claiming Social Security. Knowing these strategies becomes more important with the rise of gray divorce. The divorce rate for adults age 50 and over has nearly doubled in the past 25 years, according to data from the U.S. Census Bureau. To be eligible to claim on your ex-spouse’s Social Security benef...

Detained Saudi billionaire Alwaleed predicts his troubles will end soon

Saudi Arabian billionaire Prince Alwaleed bin Talal, detained in the kingdom’s sweeping crackdown on corruption, said on Saturday that he expected to be cleared of any wrongdoing and released from custody within days, with his vast assets intact. Prince Alwaleed was speaking in an exclusive interview with Reuters at his suite in Riyadh’s Ritz-Carlton hotel, transformed into a luxurious prison to hold tycoons and royals. He has been confined there for more than two months along with dozens of other suspects, part of Crown Prince Mohammed bin Salman’s bold plan to consolidate control and reform oil superpower Saudi Arabia. It was the first time the prince, one of the nation’s most prominent businessmen, has spoken publicly since his detention. Prince Alwaleed said he ...

Big week for markets is up next, with a Fed meeting, an earnings tsunami, and Trump’s State of the Union

Trump's State of the Union, Fed Chair Yellen's farewell meeting and a tsunami of earnings are coming in the week ahead.

At Least One Pro Sports League Is Being Halfway Honest About Sports Gambling

It’s only January, but it will be hard, from a spelling out the obvious standpoint, to top The Washington Post’s headline on Thursday morning, “If sports gambling is legalized, the NBA wants in on the profits.” The NBA is not stupid. Of all the major professional sports leagues, Adam Silver’s has been the most open about embracing the possibility of a future in which wagering on sports is legal, with visions of just this kind of proposal: using gambling as a revenue stream. That said, the NBA’s logic in this particular story is utterly assailable. Dan Spillane, the NBA’s senior vice president and assistant general counsel, outlined a plan to the New York State Senate’s Racing, Gaming, and Wagering Committee in which the league would get a 1% cut of any bets made on its product. The rationa...

Ewoks Make Off With $400 Million Worth Of ‘NEM Tokens’, In Latest Example Of Why It’s A Bad Idea To Encourage Trading In Make-Believe Internet Money

Back in October, about a month after he called Bitcoin “a fraud”, Jamie Dimon responded as follows when a moderator at an Institute of International Finance conference pressed him on the subject of cryptocurrencies: If you’re stupid enough to buy [Bitcoin], you’ll pay the price for it one day. Bitcoin was sitting at roughly $5,600 when he made that comment. Fast forward two months (to the day) and Bitcoin was above $17,000. Three days after that, it was at $20,000. “Who’s ‘stupid’ now, Jamie?”, was a common refrain on crypto subreddits. Despite the fact that Bitcoin is some 50% below its December peak, there’s still no shortage of gloating. The crypto crowd still thinks they’re having a laugh at Dimon’s expense. But they’re wrong. The fact that Bitcoin skyrocketed after Dimon’s comments do...

The dollar’s terrible week is a warning of what could come if Trump’s team missteps on trade

U.S. officials created a small firestorm with their dollar comments this week but more important will be what they do about trade.