Category: Finance

Stocks rally as investors shake off ‘hawkish’ Fed: Stock market news today

Stocks rallied on Thursday after a muted opening on the heels of the Federal Reserve’s “hawkish hold” on Wednesday, which suggested more rate hikes are likely later this year while rate cuts in 2023 are now off the table.

At the closing bell, the S&P 500 (^GSPC) was up about 1.2%, while the Dow Jones Industrial Average (^DJI) added 400 points, or 1.2%. The technology-heavy Nasdaq Composite (^IXIC) climbed roughly 1.1%.

Early Thursday, data showed retail sales in May were stronger than expected in the US. Investors were also digesting news from the European Central Bank, further raising rates as

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Investors should expect Tesla to launch a full-scale financing arm as it tries to capture more of the auto market, Morgan Stanley says

AP Photo/Ng Han Guan
  • Investors can expect Tesla to soon offer its own options for financing, Morgan Stanley said.
  • Analysts said it was time for the EV maker to create a subsidiary that finances retail sales.
  • That could potentially draw in more customers as Tesla wages a price war against its rivals.

Investors shouldn’t be surprised if Tesla was to soon launch its own full-scale financing arm as part of the company’s efforts to attract more customers and grab more share of the electric vehicle market, Morgan Stanley said.

“For years Tesla could sell a car for cash or minimal

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New AI assistant is doing out money advice on personal finance app

Professional financial planning often left out those who couldn’t afford it.

One personal finance app wants to change that by incorporating an artificial intelligence assistant to provide personalized advice to users.

Wally, the free app that allows users to sync and manage their accounts and monitor their finances, is adding WallyGPT, which can answer users’ questions about their finances, help them plan for the future, and offer insights into investment opportunities and financial literacy, the company said Wednesday.

The development underscores some of the ways AI could change financial planning for the better, but the new technology also raises questions

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Young Americans twice as likely to use AI for financial advice

As the artificial intelligence boom continues, a new survey finds that younger adults are twice as likely to rely on AI for financial advice compared to older adults.

According to a Yahoo Finance/Ipsos survey of 1,276 Americans, 20% of Gen Z adults said they were somewhat or very likely to use an AI-powered financial advisor, compared to 9% of Baby Boomers and those older. Some 18% of millennial investors and 17% of Gen X investors said they’d be likely to use an AI financial advisor.

The results suggest that younger adults, while still in small numbers, are gradually embracing AI

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How to Choose a Financial Advisor in Canada: Questions to Ask

Published on June 6th, 2023 at 01:55pm EDT
Updated on June 12th, 2023 at 06:21am EDT


Selecting a financial advisor to help you manage your money in Canada is an important decision.

As a newcomer to Canada, it’s not always easy to navigate the world of personal finance.

Selecting a financial advisor to help you manage your money is an important decision. With so many options available, it’s essential to take the time to ask the right questions and ensure you’re making the best decision for your financial future. In this article, we’ll explore seven essential questions you

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Which Diet (way of eating) Is Best for Health and Longevity?

Proper diet undoubtedly promotes healthier aging and longevity. But what’s the right diet? A meta-analysis of diet studies proposes an answer. or more accurately, answers, based on diet-related biomarkers linked to disease and aging. Half of the studies were done in Europe, the rest from North America and Asia. The February, 2023, article was published in Nutrients. You can read the entire article online.

“….the main goal of this systematic review was to perceive the quantity and quality of different diets or aspects in nutrition, how they could modulate biomarkers and prevent aging-related diseases, in order to enlighten

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Is there a financial ‘advice gap’ for non-wealthy Canadians?

Industry players and lobbyists in the financial services sector are warning of an impending “advice gap” that would be created if a ban on certain embedded commissions for mutual funds was extended to segregated funds.

These particular commissions are more commonly known as deferred sales charges, or DSCs, and they allow for financial salespeople to earn upfront payments that are not directly deducted from investors’ contributions. Rather, they are funded by higher continuing fund management expenses that many investors are not aware of.

Such extra expenses reduce investment returns, all other things being equal, and have been shown to incentivize

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Canada’s wildfires are a reminder that climate warriors are all wrong

Environmentalism that’s all passion and no reason does no good for anyone — or even for the environment.

One sign of how unhinged greens have gotten is the rush to blame climate change for the Canadian wildfires that blanketed the Northeast with smoke and toxic air last week.

City Comptroller Brad Lander called the fires “a smoke signal that it’s time to stop” financing “fossil fuel” projects, while Rep. Alexandria Ocasio-Cortez cited the smoke (and a Puerto Rican heatwave) to demand we “adapt our food systems, energy grids, infrastructure, healthcare, etc. SMOKE.”

Yet there’s zero evidence of climate change sparked

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