With persistent inflation eroding wage gains, more Americans are struggling financially just as the peak shopping season kicks into high gear. Holiday spending could come at a high cost if it means tacking on additional credit card debt just as interest rates rise. As of October, 60% of Americans were living paycheck to paycheck, according to a recent LendingClub report. A year ago, the number … Continue reading 60% of Americans are living paycheck to paycheck heading into the peak shopping season

The market is actually up this month, but bearish bets are building fast. A measure of sentiment from the options markets shows that bets on falling stock prices have sharply outpaced those expecting prices to rise. That might sound like a reason to run away from stocks. But oddly, market analysts usually see extreme levels of bearishness in investor sentiment as good news for stocks. … Continue reading Bearish bets build in stock market

The breadth of the global fallout from FTX’s collapse has continued to emerge. Temasek, Singapore’s state-backed fund, said on Thursday that it had fully written down its $275 million investment in the crypto exchange, joining the Silicon Valley firm Sequoia Capital and SoftBank, the Japanese tech conglomerate, in declaring their stakes worthless. The development comes as Sam Bankman-Fried, FTX’s founder, delivered a series of bombshell … Continue reading Investor Losses From FTX’s Implosion Are Growing

Target is the latest big retailer that is blaming shoplifting for putting a big hit on its profits.  The company said its gross margin rate dropped from 28 percent in last year’s 3rd quarter to 24.7 percent this year.  Along with shoplifting, referred to as shrink in the industry, the company blamed higher markdown rates and freight costs for dragging down profits. The company says … Continue reading TARGET blames massive shoplifting for lost profits; Locks up toothpaste