Investors may be whistling past the graveyard of a recession with latest rally in stocks

Investors feeling giddy about last week’s sharp rally for stocks might want to give a listen to Tom Waits’ song, “Whistlin’ Past the Graveyard” from 1978, to sober up for the dangers that still lurk ahead. The surge in stocks catapulted the S&P 500 index SPX, +0.92% almost back to the 4,000 mark on Friday, … Read more

IRS releases new federal tax brackets and standard deductions. Here’s how they affect your family’s tax bill.

America’s high inflation rate will produce a 7% increase in the size of the standard deduction when workers file their taxes on their 2023 income, according to new inflation adjustments from the Internal Revenue Service. It’s also going to pump up tax brackets by 7% as well, according to the annual inflation adjustments the IRS … Read more

Social Security’s ‘taxable maximum’ jumps 9%—but will it make a dent in the trust fund?

Social Security’s payroll tax cap was raised nearly 9% for 2023, meaning more income will face Social Security taxes next year, but the rise is unlikely to affect the solvency of the trusts underpinning the system. Citing the increase in average wages, the Social Security Administration said the maximum amount of earnings subject to the … Read more

Finance workers’ cocaine use surges amid burnout crisis: ‘It’s just going up and up’

When Jaime Blaustein was interviewed for his first job at Morgan Stanley in 2012, he was hooked on heroin. Blaustein’s drug use had spiralled throughout his university studies as he moved from drinking alcohol and smoking marijuana to using cocaine, crack cocaine and, eventually, heroin. By the time he graduated, despite five attempts at rehab,…

Fed’s Powell sparked a 1,000-point rout in the Dow. Here’s what investors should do next.

Now might be the time to consider hiding out in short-dated Treasurys or corporate bonds and other defensive parts of the stock market. On Friday, Federal Reserve Chairman Jerome Powell talked of a willingness to inflict “some pain” on households and businesses in an unusually blunt Jackson Hole speech that hinted at a 1970s-style inflation … Read more

My boyfriend, 68, has almost no ‘mad money’ for fun activities and trips. He lives with his father, 95, and expects to inherit his house. Is it unreasonable to expect him to get a part-time job?

I am a 65-year-old retired woman with modest Social Security and annuity payments. I also own my own home and have savings. I’ve been seeing a 68-year-old retiree since just before the pandemic. He lives with his 95-year-old dad, who is in poor health (he can’t get around much, doesn’t drive, and is showing signs … Read more

Elon Musk Files Response and Counterclaims to Twitter Lawsuit Over $44 Billion Deal

Updated July 29, 2022 6:29 pm ET Listen to article (1 minute) Elon Musk formally responded to Twitter lawsuit seeking to force him to go through with his $44 billion takeover of the social-media platform and included counterclaims against the company. The filing Friday was made confidentially and isn’t viewable by the public. It isn’t … Read more

The Bear Market Has Brought ‘Fear and Uncertainty’ for Gen Z. How They’re Coping.

Ella Gupta made her first investment when she was 10. With the help of her parents, she took half the profits of her bracelet-making business and invested in the stock market. At 14, she opened a Roth IRA, after beginning her first job cleaning dental instruments. Now, at 17, Gupta is confronting her first bear … Read more

‘I’m being taken advantage of by my own husband’: I pay all the bills and gave the down payment for our home, and all he does is buy stuff and contribute to his 401(k)

I’m being taken advantage of by my own husband. I have been married for almost 10 years. When my husband and I were first married, he convinced me to stop working after the first year or so, which I regret. A couple of years ago my mom died, leaving me a very small inheritance of … Read more

Elon Musk Fires Back at Twitter Lawsuit

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