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USA Today
14 hours ago
- Business
- USA Today
The Daily Money: Why we don't talk about credit card debt
The Daily Money: Why we don't talk about credit card debt Good morning! It's Daniel de Visé with your Daily Money. Credit card debt is an embarrassment to many Americans. It is especially embarrassing, apparently, to people who earn a lot. Roughly two-fifths of consumers with credit card debt have lied about the amount of their debt, according to a recent survey from LendingTree, an online lending marketplace. Among those with card debt who earn more than $100,000 a year, the share who lie about it rises to half. Let's talk about why. Signs of ill health in the bond market? Over the past 12 months, about half of all debt in the U.S. bond market has been Treasurys: bonds and notes issued by the federal government. That's according to a June 8 research note from Torsten Sløk, the chief economist for money manager Apollo. 'This is not healthy,' Sløk wrote. 'Half of credit issued in the economy should not be going to the government.' Here's what he means. Fewer 401(k) millionaires in 2025 Retirement savers have faced plenty of white-knuckle days in 2025 when stock market conditions — and on-again, pause-again tariffs — put everyone's nerves on edge. Amazingly, no matter how awful things felt, many have not seen a double-digit fallout in their 401(k) savings in the first quarter, according to the latest data from Fidelity Investments. This year, however, it hasn't been so easy to become a 401(k) millionaire. 📰 More stories you shouldn't miss 📰 About The Daily Money Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. Daniel de Visé covers personal finance for USA Today.
USA Today
4 days ago
- Business
- USA Today
The Daily Money: Is AI coming for your job?
The Daily Money: Is AI coming for your job? Good morning! It's Daniel de Visé with your Daily Money: Yes, this newsletter is still written by humans. If the job market is slowing, as many economists predict, don't blame the trend solely on uncertainty surrounding President Donald Trump's tariffs. You can also point the finger at AI. Here's how artificial intelligence is changing the hiring landscape. Can White workers claim discrimination? For decades, men, straight people and White people were often held to a higher legal standard when bringing workplace bias claims than groups that historically faced discrimination. No longer. The Supreme Court this week made it easier for members of so-called 'majority groups' to sue for discrimination by siding with an Ohio woman who claimed she twice lost jobs to lesser-qualified gay candidates because she is straight. Here's what that means for future discrimination complaints. Big Brother is watching you more than ever For decades, the government has been able to watch where you drive and where you walk. It can figure out where you shop, what you buy and with whom you spend time. It knows how much money you have, where you've worked and, in many cases, what medical procedures you've endured. But because all of those data points were scattered across dozens of federal, state and commercial databases, it wasn't easy for the government to build a comprehensive profile of your life. That's changing ‒ fast. 📰 More stories you shouldn't miss 📰 We haven't forgotten about Consumer Friday. Here are the week's top headlines. About The Daily Money Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version and explaining how everything from Fed rate changes to bankruptcies impacts you. Daniel de Visé covers personal finance for USA Today.
Yahoo
4 days ago
- Business
- Yahoo
US stock futures mixed ahead of May jobs report
U.S. stock futures are mixed ahead of the key monthly jobs report. The May jobs report is due before the bell. Economists, on average, expect 130,000 new jobs created and a 4.2% unemployment rate. At 6 a.m. ET, futures linked to the blue-chip Dow added 0.07%, while broad S&P 500 futures fell -0.11% and tech-heavy Nasdaq futures rose 0.14%. Docusign said billings growth was slower than expected in the first quarter, according to FactSet. Lululemon's cut its full-year earnings guidance, citing a 'dynamic macroenvironment.' Broadcom's quarterly results just beat forecasts. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday. This article originally appeared on USA TODAY: US stock futures mixed ahead of May jobs report Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
US stock futures mixed ahead of May jobs report
U.S. stock futures are mixed ahead of the key monthly jobs report. The May jobs report is due before the bell. Economists, on average, expect 130,000 new jobs created and a 4.2% unemployment rate. At 6 a.m. ET, futures linked to the blue-chip Dow added 0.07%, while broad S&P 500 futures fell -0.11% and tech-heavy Nasdaq futures rose 0.14%. Docusign said billings growth was slower than expected in the first quarter, according to FactSet. Lululemon's cut its full-year earnings guidance, citing a 'dynamic macroenvironment.' Broadcom's quarterly results just beat forecasts. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday. This article originally appeared on USA TODAY: US stock futures mixed ahead of May jobs report Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
USA Today
5 days ago
- Business
- USA Today
US stock futures up after Trump-Xi call
US stock futures up after Trump-Xi call Show Caption Hide Caption Reaction from around the world as steel tariffs double "Strongly regret," and "unfair" were some of the reactions from trade partners around the world as the U.S. doubles tariffs on steel imports. U.S. stocks opened higher after Chinese media reported a phone call between President Donald Trump and Chinese President Xi Jinping. The call comes after Trump accused China of violating a trade agreement last month that put some tariffs on ice. It also marks their first known formal contact since Trump took office, and investors hope could lead to averting a trade war. Trump has said direct talks with Xi would be the only way to resolve trade differences, but Xi has previously relied instead on advisers to negotiate trade terms. Weekly jobless claims rose by 8,000 to 247,000 in the latest week, topping the 236,000 economists polled by Dow Jones had expected and adding to the mixed jobs picture. Earlier in the week, data showed more-than-expected job openings in April, but a private jobs survey showed a marked slowdown in new hiring. The key monthly jobs report for May is due before the bell on June 6. Economists, on average, expect 130,000 new jobs created and a 4.2% unemployment rate. Separately, unit labor costs, which measure compensation against productivity, unexpectedly increased 6.6% in the first three months of the year, according to a revised estimate from the Bureau of Labor Statistics. Productivity fell 1.5%, more than expectations for a decline of 0.8%. Higher labor costs coupled with lower productivity is generally seen as inflationary. Corporte news Discount retailer Five Below's quarterly estimates topped analysts' forecasts. Software company MongoDB topped analysts' estimates with its quarterly results. PVH Corp reported better-than-expected results in the first three months of the year but lowered its profit outlook for the current quarter due to tariffs. Winnebago said it expects to adjust headcount and shift production plans due to eroding demand for motorhomes. Procter & Gamble said it would cut 7,000 jobs, or roughly 15% of its nonmanufacturing workforce, over the next two years. Broadcom, Docusign and Lululemon will follow after the close. Cryptocurrency Circle Internet Group priced its initial public offering at $31 per share, above expectations for $27 to $28 per share. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
