US Equity Funds Hit by Biggest Outflows in 11 Weeks, BofA Says
US stock funds suffered the biggest outflows in almost three months, according to data published by Bank of America Corp., adding to signs that the equity market rally is stalling.
About $9.8 billion was redeemed from US stocks in the week through Wednesday, the most in 11 weeks, according to EPFR Global data cited by the bank. Even European funds, which have been popular with investors this year, suffered their first outflows in nine weeks at $600 million.
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CBS News
33 minutes ago
- CBS News
Bay Area high school graduate accepted to 24 colleges, including some of the best in the country
As we celebrate our Bay Area high school graduates, a Vista Oaks Charter School high school graduate was accepted to 24 colleges and universities and was awarded $1 million worth of scholarships. Keion Rothschild has achieved what many of us can only dream of. He got accepted into some of the best universities in the country, including UC Berkeley, UCLA and USC. Rothschild still can't believe it. "Wow, I'm really able to do that," Rothschild said. "It really puts it into perspective what you can do when you put your mind to it." Rothschild gave a speech at his high school graduation ceremony, encouraging his peers to make a positive impact on our world. "I just want to remind you all that you are powerful, you are resilient, you are capable of achieving incredible things," Rothschild said. "Let's go into this world with our heads held high. Let's make a difference and honor the legacy of those who came before us." Graduating with a 4.0 GPA with honors, Rothschild was awarded $1 million worth of scholarships from colleges and universities across the country. "Like I said, 'It's all in God's plan,'" said Rothschild to his mom. "I'm ecstatic for my son and I say this so often; I am just blessed to be his mom," Onó Rothschild said. Rothschild is a role model to his six siblings and a leader in his school and community. He's an ambassador for the youth empowerment nonprofit Youth Utilizing Power and Praise based in Santa Clara County. "When he first started with his coach in public speaking, which at that time was my husband, Theophilus Booker, Keion was so shy," said Shelene Huey-Booker, YUPP founder and executive director. "He's probably gonna get mad that I say this, but I'm gonna say it anyway, cause that's what aunties do. He would just cry. It was just too much for him to now seeing him speaking at his graduation. It's just phenomenal and it's such a blessing to be able to witness it." "A lot of people feel like they're alone and I had my own experience with that," Rothschild said. "But when you see that played out in front of you and you know how many people are actually there for you. It changes your whole perspective on everything." With the big decision of choosing from 24 colleges and universities, Rothschild eventually chose the University of Oregon, which awarded him a full-ride scholarship in their honors program. Now, Rothschild is looking to the future. "My next step is getting into college and graduating and then I want to earn a whole bunch of money and buy my family anything they want," said Rothschild. "I want to buy my mom a house, a big, beautiful mansion. Everything she wants. My auntie, you guys met earlier. I want to buy her a house, my grandma a house. Just buy everybody a house really." Rothschild's strength, resilience and humility are qualities that will carry him through life. "I wouldn't say it's about me per se," said Rothschild. "I think it's all the grace of God." No matter what lies ahead, his future is bright. Rothschild plans to major in English and become a screenwriter.
Miami Herald
42 minutes ago
- Miami Herald
Why Gen Z and Millennials Are Feeling the Most Car Buying Pressure
The United States is a land where its people rely on cars for their everyday transportation needs; however, purchasing a new or used vehicle can often feel like an extensive financial cross-examination rather than a straightforward and effortless transaction at dealerships and car lots. If you have been to your local dealerships, scrolled the options on car-buying websites, or curiously poked around at the newest cars on the websites of any automaker these days, you are probably more than aware that new cars today are very expensive. According to the latest data from Kelley Blue Book and Cox Automotive, the average cost of a new car in the U.S. reached an astonishing $48,883 as of June 2, 2025; a high price tag that can discourage even the most enthusiastic car buyers. However, recent findings from Bank of America indicate that younger buyers are significantly influencing current trends in the auto market, although their motivations are not always driven by sound financial reasoning. When the Trump administration announced a 25% tariff on imported cars and car parts in late March, BofA researchers and analysts saw that some concerned buyers rushed to purchase vehicles before the tariffs could translate into higher sticker prices. The bank saw a sharp spike in car loan applications in late March and April, with sales data peaking at a seasonally adjusted annualized rate (SAAR) of 17.8 million. However, a deeper dive into its data reveals that Gen Z and younger Millennials were much more active in this pre-tariff buying spree than older demographics. From March to May 2025, Bank of America found that large payments (those over $2,000) to car dealers and finance companies were steadily rising among these younger age groups in comparison to older buyers. What this shows is that younger consumers seemed more motivated to lock in prices before tariffs made vehicles even more expensive than they already were. Unlike Baby Boomers or Gen Xers, many Gen Z and Millennial buyers are either purchasing their first or second car, and they're entering the market at an unaffordable time by all kinds of metrics. According to Bank of America payments data, the median monthly car payment has jumped over 30% since 2019, outpacing the rise in new and used vehicle prices. This data point proves that a car can be a financial ballast for young people who have to balance monthly costs like rent, groceries, student loans, and other miscellaneous subscription-based services they may be in for. Today, one in five U.S. households pays more than $1,000 a month ($12,000 per year) just for their car payments, which can be a massive financial burden for younger buyers. In fact, between June 2024 and May 2025, a significantly higher share of younger buyers saw their monthly car payments climb. Bank of America data shows that Gen Z and younger Millennial car buyers accounted for the biggest year-over-year increase in the percentage of households who paid more than $500 per month for their cars, with some paying $1,000 or more. However, the financial data isn't entirely age-related; it's also tied to income. Many younger buyers tend to earn less money and fall into the lower or middle-income brackets, meaning their margins and budgets are tighter than most. According to the report, lower-income buyers also showed increased activity in the pre-tariff rush, further underscoring how policy shifts like tariffs can hit the most vulnerable groups hardest. Nonetheless, young people are committed to car ownership because they need to get around, even if it means buying a car at a time when cars are more expensive than ever and loans are harder to get. According to data from The New York Federal Reserve, the likelihood of getting turned down for a car loan reached 33.5% in February 2025, the highest level on record. According to Bank of America payments data, the median monthly car payment has jumped over 30% since 2019, outpacing the rise in new and used vehicle prices. This data point proves that a car can be a financial ballast for young people who have to balance monthly costs like rent, groceries, student loans, and other miscellaneous subscription-based services they may be in for. Today, one in five U.S. households pays more than $1,000 a month ($12,000/year) just for their car notes, which can be a massive financial burden for younger buyers. In fact, between June 2024 and May 2025, a significantly higher share of younger buyers saw their monthly car payments climb. Bank of America data shows that Gen Z and younger Millennial car buyers accounted for the biggest year-over-year increase in the percentage of households who paid more than $500 per month for their cars, with some paying $1,000 or more. However, the financial data isn't entirely age-related; it's also tied to income. Many younger buyers tend to earn less money and fall into the lower or middle-income brackets, meaning their margins and budgets are tighter than most. According to the report, lower-income buyers also showed increased activity in the pre-tariff rush, further underscoring how policy shifts like tariffs can hit the most vulnerable groups hardest. Nonetheless, young people are committed to car ownership because they need to get around, even if it means buying a car at a time when cars are more expensive than ever and loans are harder to get. According to data from The New York Federal Reserve, the likelihood of getting turned down for an auto loan reached 33.5% in February 2025-the highest level on record. Although personal finance is a central fixation for some social media-addled Gen Z and younger Millennials, this data from one of America's largest financial institutions shows that many in these age groups are in situations fit for a Caleb Hammer or Dave Ramsay clip floating around on their feeds. What this research means for Gen Z and Millennials is that they are buying more, paying more, and doing it at a time when the deck feels increasingly stacked against them. However, as I have previously mentioned, this highlights just how important it is to approach car buying responsibly and plan financially. It's truly important to take a step back, let the temptation simmer, and examine your financial situation and set a budget that you can actually comfortably afford. By being diligent, you can protect yourself from potential hurdles and make a decision that won't wreck you or your credit. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
Associated Press
an hour ago
- Associated Press
Benson Fischer – Restaurant Industry Veteran Launches Revolutionary Restaurant Marketing Program
Benson Fischer ZivZo, led by CEO Benson Fischer, launches its restaurant marketing program. With 40+ years of hands-on industry experience, Fischer has owned, operated, franchised, and consulted for restaurants nationwide. ZivZo's real-world expertise drives tailored marketing solutions that deliver proven results, like generating $140K in sales from a $5K campaign. As a certified Toast Partner, ZivZo empowers restaurants with strategic growth tools. Potomac, Maryland - June 13, 2025 - ZivZo, a marketing agency unlike any other, is proud to announce the official launch of its specialized restaurant marketing program, spearheaded by Founder/CEO and seasoned entrepreneur, Benson Fischer. With over four decades of unparalleled hands-on experience in the restaurant industry, Fischer brings a unique and invaluable perspective to helping restaurants thrive in today's competitive landscape. ZivZo's approach is rooted in real-world understanding, not just marketing theory. Benson Fischer's extensive background includes the design, construction, and operation of over 50 restaurants, the successful franchising of one of his concepts, and his role as an area developer/franchisee for Papa John's. He has personally navigated every facet of the restaurant business, from site selection and lease negotiations to daily operations, franchising, and even the manufacturing and national distribution of food and beverage products. This deep, comprehensive insight, further bolstered by his ownership of a commercial real estate brokerage focused on restaurant consulting, sets ZivZo apart. 'I've walked a mile in the shoes of every restaurant owner and operator,' says Benson Fischer. 'I understand the daily challenges, the operational complexities, and the critical need for effective strategies that deliver tangible results. At ZivZo, we don't just offer marketing buzzwords; we offer strategic insights and solutions specifically tailored to the unique needs of restaurants, because we've lived and breathed this industry.' ZivZo's experience directly translates into a proven track record of success. In a recent example, a struggling restaurant partnered with ZivZo for a targeted marketing intervention. After a thorough analysis of their offerings, customer base, and competitive landscape, ZivZo implemented a multifaceted marketing campaign. This campaign integrated organic and paid digital strategies, compelling video content, and a targeted email marketing program. The results were remarkable: within just 30 days, and with a modest $5,000 budget, the campaign generated over $140,000 in restaurant sales – a staggering 28X return on investment. ZivZo is eager to share the full details and results of this campaign upon request. ZivZo's new restaurant marketing program is poised to empower national, regional and local restaurant groups with the strategic guidance and effective marketing solutions they need to achieve significant growth and profitability. ZivZo is also a certified Toast Partner. About ZivZo: ZivZo is a specialized marketing agency led by CEO Benson Fischer, a seasoned entrepreneur with over 40 years of hands-on experience in the restaurant industry. ZivZo offers strategic marketing insights and solutions tailored to the unique needs of restaurants, leveraging real-world operational understanding to deliver exceptional results. Click To Learn About Benson Fischer & ZivZo's Restaurant Marketing: Media Contact Contact Person: Benson Fischer Email: Send Email Phone: (833) 948-9663 City: Washington State: DC Country: United States Website: Source: Ok Omni LLC
