Are You Secretly Rich? Here's What The Top 10% of People In Their 50s Actually Have
While comparison is the thief of joy or so they say, but it can also be a practical tool—especially when money is still taboo to talk about in everyday life. If you've ever wondered how your finances stack up next to your peers, here's your chance to peek behind the curtain.
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The best data we have on American household wealth comes from the Federal Reserve's Survey of Consumer Finances. Every three years, the central bank gathers detailed information on everything from how much people have in their retirement accounts to how much they owe on their credit cards. It's a goldmine of financial transparency—spanning income, assets, debt, and demographics.
The most recent survey covers data from the end of 2022, and yes, plenty has changed since then. The markets have rallied. Home values have jumped. But until the next release in 2026, this is the most current and comprehensive snapshot of where American households stand.
According to Fool.com's analysis of that data, the top 10% of households aged 50 to 59 had a net worth of at least $2,629,060. The median household in that age bracket? Around $285,000—a massive gap that underscores just how far ahead the wealthiest 10% really are.
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It's also worth noting: many of those high-net-worth households still carry debt. In fact, the average household in the top 10% has about $375,000 in debt, largely tied to mortgages. And that's not necessarily a red flag—especially if the mortgage comes with a low fixed rate. Paying it off aggressively can actually limit your liquidity. In most cases, smart investing beats rapid repayment, and having flexible access to cash may matter more than being debt-free.
Of course, "rich" is relative. For one person, being wealthy might mean having a paid-off house and a modest retirement fund. For another, it might mean leasing luxury cars and flying first class to Europe. Lifestyle choices, spending habits, and risk tolerance all shape what wealth looks like—and how much you need to feel secure.
So if you're already among the richest 10%, that's something to celebrate. And if you're still building? Keep going. Some people take the slow and steady route. Others swing big on investments or side hustles. At the end of the day, it's your life, your money, and your definition of financial success.
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This article Are You Secretly Rich? Here's What The Top 10% of People In Their 50s Actually Have originally appeared on Benzinga.com
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Yahoo
7 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq rise as Fed rate cut bets surge after CPI data, Bessent comments
US stocks climbed on Wednesday amid increasing expectations that the Federal Reserve will cut interest rates at its next meeting, following the latest inflation data. The Dow Jones Industrial Average (^DJI) led the major gauges, rising nearly 1%, while the benchmark S&P 500 (^GSPC) gained 0.4%. The tech-heavy Nasdaq Composite (^IXIC) pared earlier gains to climb roughly 0.3%. The gains followed a big upswing in stocks on Tuesday after the release of the July Consumer Price Index (CPI) report, with the S&P 500 and Nasdaq both touching new records. Though the data showed inflation had ticked up, it increased less than expected. Treasury Secretary Scott Bessent also on Wednesday called on the Fed to lower rates by 150 to 175 basis points. "I think we could go into a series of rate cuts here, starting with a 50 basis-point rate cut in September," he told Bloomberg. The results boosted bets the Fed would cut interest rates at its September policy meeting, especially in light of recent warnings signs the labor market is weakening. On Wednesday morning, traders had priced in a nearly 100% chance of a September cut, according to the CME Group. Later this week, investors will get two more snapshots on the state of the economy with the release of the Producer Price Index on Thursday and retail sales data on Friday. In corporate news, Circle (CRCL) fell Wednesday after the company announced it would sell 10 million shares on the heels of its first earnings report since its explosive public debut. Cava (CAVA) shares also dove after the company issued its first annual sales growth target cut. CoreWeave (CRWV) posted losses at the open as the company's operating income guidance fell below expectations as its cost of debt mounts, despite beating revenue estimates on strong demand for AI. Looking ahead, Cisco (CSCO) is Wednesday's earnings headliner after the closing bell. Crypto exchange Bullish prices IPO at $37 per share, valuing company at $5 billion Cryptocurrency exchange operator Bullish (BLSH) is set to go public on Wednesday at a valuation north of $5 billion as the IPO market looks set to continue a strong summer, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Stocks rise at the open US stocks moved higher on Wednesday after the open as expectations for Fed interest rate cuts rose. The tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) rose more than 0.5%, while the benchmark S&P 500 (^GSPC) gained 0.4%. Within the S&P 500, the Consumer Discretionary Sector (XLY) was up 0.7% , while the Technology Sector (XLK) climbed more than 0.6%. Treasury yields fall after Bessent urges Fed to lower rates US Treasury yields fell on Wednesday as traders increased bets that the Federal Reserve would cut interest rates at its September meeting following a rise in core inflation. At the same time, Treasury Secretary Scott Bessent urged the Fed to cut interest rates by 150 basis points in an interview with Bloomberg on Wednesday, maintaining political pressure on the central bank. The 10-year Treasury yield (^TNX) fell 4 basis points to 4.25%, and the 30-year yield (^TYX) dropped to 4.84%. Tencent earnings, trade truce lift China tech stocks As my colleague Jenny McCall notes below, strong domestic liquidity in China and positive sentiment from the US trade truce have boosted Chinese stocks in recent months. On Wednesday, that rally continued in top Chinese stocks, as recent inflation data boosted hopes for US interest rate cuts and tech companies gained greater clarity around the sale of Nvidia and AMD chips in China. Tencent ( gained 4.7% after the WeChat parent company reported revenue growth of 15%, above estimates. The company is also accelerating AI research to keep up with the competition, which includes Alibaba (BABA), ByteDance, and US companies OpenAI and Anthropic. US-listed shares of e-commerce company Alibaba rose 3.6%, while (JD) added 2%. Baidu (BIDU) climbed 2.5%, and PDD Holdings (PDD) rose 1.9%. VIX fear gauge sinks to lowest level since December The VIX (^VIX) volatility index, a key fear gauge in markets, slipped to 14.49 on Wednesday morning, hitting its lowest level since late December 2024. Despite geopolitical tensions and lingering tariff uncertainty, there are a few reasons why markets are pricing in fewer swings. For one, investors are holding a lot of cash and buying assets at lower prices during sell-offs, according to Bloomberg. Second, the global economy appears to be holding up better than investors expected after President Trump unleashed "Liberation Day" tariffs in April. At that time, the VIX spiked to 52. Bloomberg reports: Read more here. Good morning. Here's what's happening today. Economic data: MBA Mortgage Applications (week ending Aug. 8) Earnings: Brinker International (EAT), Cisco (CSCO), Red Robin (RRGB) Here are some of the biggest stories you may have missed overnight and early this morning: Earnings live: Cava stock tumbles and CoreWeave slides Crypto is having a breakout summer — and bitcoin isn't the reason US leads markets higher as world adapts to tariff policy Dutch Bros eyes expansion as Starbucks battle heats up Investors playing more defense even as stocks climb to new highs US 30-year mortgage rate falls, refi applications surge Market gauges of volatility are fading despite high uncertainty China's $11T stock market stages steady resurgence Bitcoin isn't the reason for crypto's breakout summer The crypto world has had room to run this year amid a series of legislative wins and new financial initiatives. But notably, the big news items don't really involve bitcoin (BTC-USD), Yahoo Finance's Hamza Shaban notes in today's Morning Brief. Hamza writes: Japan's Nikkei hits all-time high The Nikkei 225, the primary index for the Tokyo Stock Exchange, is trading at all-time highs amid optimism that confusion over the recent US-Japan trade agreement is being addressed in addition to the renewed strength in Big Tech. Domestically, Japan's key auto industry is cautiously optimistic that the the positive will outweigh any drag coming from tariffs. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged on the index," Takamasa Ikeda, senior portfolio manager at GCI Asset Management, told Reuters. China's $11 trillion stock market stages steady resurgence Chinese stocks have risen in recent months, helped by strong domestic liquidity and despite a lack of major catalysts. Bloomberg News reports: Read more here. The best points I have heard this morning on CoreWeave CoreWeave (CRWV) was teed up to let down investors last night. And it did on several fronts. First, the company's net loss was much higher than consensus. Second, capital expenditures were a whopping $1 billion higher sequentially. And third, capex may climb another $500 million in the current quarter. While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback. Here are two important call outs this morning from DA Davidson analyst Gil Luria: Cava crashing Cava (CAVA) is getting run over premarket to the tune of 23%. Bottom line on this one: When you are valued as a high-growth stock and you don't deliver high growth, your stock will take a beating. Same restaurant sales only rose 2.1%. The company slashed its full-year same-restaurant sales guidance. The earnings call wasn't exactly alarming — the company appears to still be structurally sound. But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season. The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in a $15+ salad bowl?! Crypto exchange Bullish prices IPO at $37 per share, valuing company at $5 billion Cryptocurrency exchange operator Bullish (BLSH) is set to go public on Wednesday at a valuation north of $5 billion as the IPO market looks set to continue a strong summer, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Cryptocurrency exchange operator Bullish (BLSH) is set to go public on Wednesday at a valuation north of $5 billion as the IPO market looks set to continue a strong summer, Yahoo Finance's Jake Conley reports. Conley writes: Read the full story here. Stocks rise at the open US stocks moved higher on Wednesday after the open as expectations for Fed interest rate cuts rose. The tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) rose more than 0.5%, while the benchmark S&P 500 (^GSPC) gained 0.4%. Within the S&P 500, the Consumer Discretionary Sector (XLY) was up 0.7% , while the Technology Sector (XLK) climbed more than 0.6%. US stocks moved higher on Wednesday after the open as expectations for Fed interest rate cuts rose. The tech-heavy Nasdaq Composite (^IXIC) and the Dow Jones Industrial Average (^DJI) rose more than 0.5%, while the benchmark S&P 500 (^GSPC) gained 0.4%. Within the S&P 500, the Consumer Discretionary Sector (XLY) was up 0.7% , while the Technology Sector (XLK) climbed more than 0.6%. Treasury yields fall after Bessent urges Fed to lower rates US Treasury yields fell on Wednesday as traders increased bets that the Federal Reserve would cut interest rates at its September meeting following a rise in core inflation. At the same time, Treasury Secretary Scott Bessent urged the Fed to cut interest rates by 150 basis points in an interview with Bloomberg on Wednesday, maintaining political pressure on the central bank. The 10-year Treasury yield (^TNX) fell 4 basis points to 4.25%, and the 30-year yield (^TYX) dropped to 4.84%. US Treasury yields fell on Wednesday as traders increased bets that the Federal Reserve would cut interest rates at its September meeting following a rise in core inflation. At the same time, Treasury Secretary Scott Bessent urged the Fed to cut interest rates by 150 basis points in an interview with Bloomberg on Wednesday, maintaining political pressure on the central bank. The 10-year Treasury yield (^TNX) fell 4 basis points to 4.25%, and the 30-year yield (^TYX) dropped to 4.84%. Tencent earnings, trade truce lift China tech stocks As my colleague Jenny McCall notes below, strong domestic liquidity in China and positive sentiment from the US trade truce have boosted Chinese stocks in recent months. On Wednesday, that rally continued in top Chinese stocks, as recent inflation data boosted hopes for US interest rate cuts and tech companies gained greater clarity around the sale of Nvidia and AMD chips in China. Tencent ( gained 4.7% after the WeChat parent company reported revenue growth of 15%, above estimates. The company is also accelerating AI research to keep up with the competition, which includes Alibaba (BABA), ByteDance, and US companies OpenAI and Anthropic. US-listed shares of e-commerce company Alibaba rose 3.6%, while (JD) added 2%. Baidu (BIDU) climbed 2.5%, and PDD Holdings (PDD) rose 1.9%. As my colleague Jenny McCall notes below, strong domestic liquidity in China and positive sentiment from the US trade truce have boosted Chinese stocks in recent months. On Wednesday, that rally continued in top Chinese stocks, as recent inflation data boosted hopes for US interest rate cuts and tech companies gained greater clarity around the sale of Nvidia and AMD chips in China. Tencent ( gained 4.7% after the WeChat parent company reported revenue growth of 15%, above estimates. The company is also accelerating AI research to keep up with the competition, which includes Alibaba (BABA), ByteDance, and US companies OpenAI and Anthropic. US-listed shares of e-commerce company Alibaba rose 3.6%, while (JD) added 2%. Baidu (BIDU) climbed 2.5%, and PDD Holdings (PDD) rose 1.9%. VIX fear gauge sinks to lowest level since December The VIX (^VIX) volatility index, a key fear gauge in markets, slipped to 14.49 on Wednesday morning, hitting its lowest level since late December 2024. Despite geopolitical tensions and lingering tariff uncertainty, there are a few reasons why markets are pricing in fewer swings. For one, investors are holding a lot of cash and buying assets at lower prices during sell-offs, according to Bloomberg. Second, the global economy appears to be holding up better than investors expected after President Trump unleashed "Liberation Day" tariffs in April. At that time, the VIX spiked to 52. Bloomberg reports: Read more here. The VIX (^VIX) volatility index, a key fear gauge in markets, slipped to 14.49 on Wednesday morning, hitting its lowest level since late December 2024. Despite geopolitical tensions and lingering tariff uncertainty, there are a few reasons why markets are pricing in fewer swings. For one, investors are holding a lot of cash and buying assets at lower prices during sell-offs, according to Bloomberg. Second, the global economy appears to be holding up better than investors expected after President Trump unleashed "Liberation Day" tariffs in April. At that time, the VIX spiked to 52. Bloomberg reports: Read more here. Good morning. Here's what's happening today. Economic data: MBA Mortgage Applications (week ending Aug. 8) Earnings: Brinker International (EAT), Cisco (CSCO), Red Robin (RRGB) Here are some of the biggest stories you may have missed overnight and early this morning: Earnings live: Cava stock tumbles and CoreWeave slides Crypto is having a breakout summer — and bitcoin isn't the reason US leads markets higher as world adapts to tariff policy Dutch Bros eyes expansion as Starbucks battle heats up Investors playing more defense even as stocks climb to new highs US 30-year mortgage rate falls, refi applications surge Market gauges of volatility are fading despite high uncertainty China's $11T stock market stages steady resurgence Economic data: MBA Mortgage Applications (week ending Aug. 8) Earnings: Brinker International (EAT), Cisco (CSCO), Red Robin (RRGB) Here are some of the biggest stories you may have missed overnight and early this morning: Earnings live: Cava stock tumbles and CoreWeave slides Crypto is having a breakout summer — and bitcoin isn't the reason US leads markets higher as world adapts to tariff policy Dutch Bros eyes expansion as Starbucks battle heats up Investors playing more defense even as stocks climb to new highs US 30-year mortgage rate falls, refi applications surge Market gauges of volatility are fading despite high uncertainty China's $11T stock market stages steady resurgence Bitcoin isn't the reason for crypto's breakout summer The crypto world has had room to run this year amid a series of legislative wins and new financial initiatives. But notably, the big news items don't really involve bitcoin (BTC-USD), Yahoo Finance's Hamza Shaban notes in today's Morning Brief. Hamza writes: The crypto world has had room to run this year amid a series of legislative wins and new financial initiatives. But notably, the big news items don't really involve bitcoin (BTC-USD), Yahoo Finance's Hamza Shaban notes in today's Morning Brief. Hamza writes: Japan's Nikkei hits all-time high The Nikkei 225, the primary index for the Tokyo Stock Exchange, is trading at all-time highs amid optimism that confusion over the recent US-Japan trade agreement is being addressed in addition to the renewed strength in Big Tech. Domestically, Japan's key auto industry is cautiously optimistic that the the positive will outweigh any drag coming from tariffs. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged on the index," Takamasa Ikeda, senior portfolio manager at GCI Asset Management, told Reuters. The Nikkei 225, the primary index for the Tokyo Stock Exchange, is trading at all-time highs amid optimism that confusion over the recent US-Japan trade agreement is being addressed in addition to the renewed strength in Big Tech. Domestically, Japan's key auto industry is cautiously optimistic that the the positive will outweigh any drag coming from tariffs. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged on the index," Takamasa Ikeda, senior portfolio manager at GCI Asset Management, told Reuters. China's $11 trillion stock market stages steady resurgence Chinese stocks have risen in recent months, helped by strong domestic liquidity and despite a lack of major catalysts. Bloomberg News reports: Read more here. Chinese stocks have risen in recent months, helped by strong domestic liquidity and despite a lack of major catalysts. Bloomberg News reports: Read more here. The best points I have heard this morning on CoreWeave CoreWeave (CRWV) was teed up to let down investors last night. And it did on several fronts. First, the company's net loss was much higher than consensus. Second, capital expenditures were a whopping $1 billion higher sequentially. And third, capex may climb another $500 million in the current quarter. While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback. Here are two important call outs this morning from DA Davidson analyst Gil Luria: CoreWeave (CRWV) was teed up to let down investors last night. And it did on several fronts. First, the company's net loss was much higher than consensus. Second, capital expenditures were a whopping $1 billion higher sequentially. And third, capex may climb another $500 million in the current quarter. While I appreciate the company's revenue backlog of $30.1 billion doubled year over year, the company's mixed results and high debt load are real causes for concern. Hence, the sharp pre-market pullback. Here are two important call outs this morning from DA Davidson analyst Gil Luria: Cava crashing Cava (CAVA) is getting run over premarket to the tune of 23%. Bottom line on this one: When you are valued as a high-growth stock and you don't deliver high growth, your stock will take a beating. Same restaurant sales only rose 2.1%. The company slashed its full-year same-restaurant sales guidance. The earnings call wasn't exactly alarming — the company appears to still be structurally sound. But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season. The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in a $15+ salad bowl?! Cava (CAVA) is getting run over premarket to the tune of 23%. Bottom line on this one: When you are valued as a high-growth stock and you don't deliver high growth, your stock will take a beating. Same restaurant sales only rose 2.1%. The company slashed its full-year same-restaurant sales guidance. The earnings call wasn't exactly alarming — the company appears to still be structurally sound. But a slower economy and increased competition is weighing on the brand's results. We heard the same exact tone at Chipotle (CMG) and Starbucks (SBUX) this earnings season. The positive here: Cava is testing salmon for its menu. Who doesn't like salmon in a $15+ salad bowl?! 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Yahoo
7 minutes ago
- Yahoo
Stocks See Support As Bessent Calls for Big Rate Cut
The S&P 500 Index ($SPX) (SPY) today is up +0.40%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.59%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.44%. September E-mini S&P futures (ESU25) are up +0.38%, and September E-mini Nasdaq futures (NQU25) are up +0.54%. The S&P 500 index and the Nasdaq 100 Index today both posted new record highs. US stocks continue to see support from strengthening expectations for interest rate cuts through year-end as Treasury Secretary Bessent weighed in with his call for a 150-175 bp rate cut. Stocks are seeing support from today's -4 bp decline in the 10-year T-note yield. Meanwhile, the short end of the Treasury curve is doing even better with a -4.2 bp decline to 3.689% in the 2-year T-note yield today, adding to Tuesday's -3.8 bp decline. More News from Barchart Warren Buffett Warns Investing At 'Too-High Purchase Price' Even for 'an Excellent Company' Can Undo a Decade of Smart Investing BitMine Immersion Now Holds 1.15 Million Ethereum Tokens. Should You Buy BMNR Stock Here? Why Archer Aviation's (ACHR) Post-Earnings Tailspin Looks Like a Favorably Mispriced Opportunity Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Treasury Secretary Scott Bessent today said that interest rates are "too constrictive" and that rates "should probably be 150, 175 basis points lower." He added, "There's a very good chance of a 50 basis point cut. We could go into a series of rate cuts here, starting with a 50 basis point rate cut in September." The Fed is currently targeting the federal funds rate in the range of 4.25%-4.50% and the effective rate is currently at 4.33%. The markets have started to think about the chances for a -50 basis point rate cut in September, based on Monday's largely benign CPI report and the fact that the US labor market is slowing, with average monthly payroll growth in May-July of only +35,000. On a year-on-year basis, Tuesday's July headline CPI of +2.7% y/y was slightly weaker than expected, but the core CPI of +3.1% y/y was slightly stronger than expected. The federal funds futures market today boosted the odds to 100% for a -25 bp rate cut in September and a slight 1% chance of a -50 bp rate cut. The market late Tuesday was discounting the odds of a -25 bp rate cut in September at 96%, up from 40% before the July payroll report released on August 1. The federal funds futures market is currently discounting an overall -63 bp rate cut by the end of this year to 3.70%, and an overall -133 bp rate cut to 3.00% by the end of 2026. The markets are awaiting this Friday's Trump-Putin summit in Alaska for any progress in ending the Russian-Ukrainian war. President Trump on Monday downplayed expectations of a breakthrough, saying the summit is a "feel-out meeting" to end the war in Ukraine. Also, recent comments from Ukrainian President Zelenskiy dampened hopes for a quick end to the war when he rejected any talk of Ukraine ceding territory to Russia. In recent tariff news, President Trump early Tuesday extended the tariff truce with China for another 90 days until November. Last Wednesday, Mr. Trump announced that he will impose a 100% tariff on semiconductor imports. Still, companies would be eligible for exemptions if they demonstrate a commitment to building their products in the US. However, the US will levy a separate tax on imports of electronic products that employ semiconductors. Also, Mr. Trump announced last Wednesday that he will double tariffs on US imports from India to 50% from the current 25% tariff, due to India's purchases of Russian oil. Last Tuesday, Mr. Trump said that US tariffs on pharmaceutical imports would be announced "within the next week or so." According to Bloomberg Economics, the average US tariff will rise to 15.2% if rates are implemented as announced, up from 13.3% earlier, and significantly higher than the 2.3% in 2024 before the tariffs were announced. The market's focus this week is on corporate earnings results and any new trade or tariff news. On Thursday, weekly initial unemployment claims are expected to fall by -1,000 to 225,000. Also on Thursday, the July final-demand PPI is expected to increase to +2.5% y/y from +2.3% y/y in June, and the July PPI ex-food and energy is expected to rise to +2.9% y/y from +2.6% y/y in June. On Friday, July US retail sales are expected to climb +0.5% m/m and retail sales ex-autos are expected to rise +0.3% m/m. Also on Friday, July manufacturing production is expected to remain unchanged m/m. Finally, the University of Michigan's Aug US consumer sentiment index is expected to climb by +0.3 to 62.0. Federal funds futures prices are discounting the chances for a -25 bp rate cut at 100% at the September 16-17 FOMC meeting and at 70% for a second -25 bp rate cut at the following meeting on October 28-29. Earnings reports indicate that S&P 500 earnings for Q2 are on track to rise +9.1% y/y, much better than the pre-season expectations of +2.8% y/y and the most in four years, according to Bloomberg Intelligence. With over 82% of S&P 500 firms having reported Q2 earnings, about 82% of companies exceeded profit estimates. Overseas stock markets today are higher. The Euro Stoxx 50 is up +0.86%. China's Shanghai Composite today rallied to a 3.75-year high and closed up +0.48%. Japan's Nikkei Stock 225 today closed up +1.30% and posted a new record high. Interest Rates September 10-year T-notes (ZNU25) are up +10 ticks, and the 10-year T-note yield is down -4.1 bp at 4.248%. T-note prices are higher as expectations strengthen for interest rate cuts through year-end. T-note prices have underlying support from Tuesday's CPI report, which was largely in line with market expectations and did not contain any nasty surprises. The 10-year breakeven inflation expectations rate today is little changed at 2.387%, following Tuesday's -1.3 bp decline. European government bond yields today are lower. The 10-year German bund yield is down -4.9 bp at 2.695%. The 10-year UK gilt yield is down -2.0 bp at 4.606%. Swaps are discounting the chances at 7% for a -25 bp rate cut by the ECB at the September 11 policy meeting. US Stock Movers The Magnificent Seven are all trading higher. Amazon (AMZN) and Tesla (TSLA) are leading the group with gains of more than +1%. Chip stocks continue to show strength from expectations for interest rate cuts. AMD (AMD), Align Technologies (ALGN), and ON Semiconductors (ON) are all showing gains of +3% or more. Hanesbrands (HBI) is up +7% today, adding to Tuesday's +28% rally that occurred after the Financial Times reported Canadian-based Gildan Activewear (GIL) will acquire Hanesbrands. The official acquisition announcement was made today, with an equity purchase amount of about $2.2 billion. Gildan is up +12% today after Tuesday's -3.7% loss. Palo Alto Networks (PANW) shares are up about +1% on an upgrade by Deutsche Bank to buy from hold. Inc (AI) is up about +1% despite a downgrade by Oppenheimer to market perform from outperform following the company's recent preliminary earnings results that were considered weak. KinderCare Learning (KLC) is down more than -20% after disappointing Q2 results, including weaker-than-expected enrollment numbers and a reduction in full-year guidance. Earnings Reports (8/13/2025) Loar Holdings Inc (LOAR), Performance Food Group Co (PFGC), StandardAero Inc (SARO), Coherent Corp (COHR), Cisco Systems Inc (CSCO). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
USA Today
9 minutes ago
- USA Today
DOT launches faster, more secure system for airline complaints
The Department of Transportation announced an updated process for travelers to file air travel-related complaints. The agency said Wednesday, Aug. 13, that the change would make the resolution process more streamlined. According to the DOT, the complaint system previously relied on technology from the 1990s, which slowed the process for airlines and ticket agents to receive copies of the complaint and work toward its resolution. The new system, which users can access online, will automatically notify relevant parties once a complaint is filed. 'I'm committed to making USDOT work better for the American people. By modernizing our technology and getting rid of outdated legacy systems, we can better serve the traveling public and maximize efficiencies,' Transportation Secretary Sean P. Duffy said in a statement. The DOT said the new system also improves data and privacy protection for users. The agency recommends travelers try to resolve their issue directly with the airline or their travel agency before filing a consumer complaint. Consumer complaints help the DOT's Office of Aviation Consumer Protection (OCAP) track industry trends and identify when enforcement action is needed for a particular problem. "For civil rights complaints, OACP will investigate every complaint that it receives and provide its findings to the consumer at the conclusion of the investigation," the agency's website explains. "For all other complaints, OACP is not able to respond to each complaint individually given the volume of complaints received. Although OACP does not respond to individual consumers who file complaints not involving civil rights, OACP will review and analyze non-civil rights related complaints from consumers when conducting targeted or sample reviews to determine airlines' and travel agencies' compliance with aviation consumer protection requirements."
