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The average 401(k) balance is $112,572, according to Vanguard. The median 401(k) balance is significantly lower at $27,376.
Gen Xers own 20.9% of stocks, worth $8.36 trillion. Millennials own 7.3% of stocks, worth $2.9 trillion, per Motley Fool.
Kamala Harris and her husband Doug Emhoff have a 2.625% mortgage, per WSJ. Their home value is estimated between $1 million and $5 million, and they have a seven-year adjustable-rate mortgage.
"President Joe Biden isn’t setting the party agenda anymore. That role now belongs to his vice president, Kamala Harris," per Bloomberg.
Generative A.I. will upend the workforce, McKinsey says, forcing 12 million job switches and automating away 30% of hours worked in the U.S. economy by 2030
Rising unemployment is not signalling a recession, per Goldman Sachs, $GS, in BI.
Average 401(k) balance, per Vanguard: Under 25: $7,351 25 to 34: $37,557 35 to 44: $91,281 45 to 54: $168,646 55 to 64: $244,750 65 and up: $272,588
Mark Zuckerberg of $META predicts a future where nearly everyone is wearing AI-powered smart glasses, per BI.
Use the sell-off in tech stocks as a chance to buy the dip, UBS has said.
Hedge funds are rapidly unwinding their bets in industrials stocks, and rotating into the corners of the market exposed to commodities, such as energy and materials, amid growing geopolitical risks and concerns about economic slowdowns in the US and China, per Bloomberg.
The US economy is too 'hot' for a September rate cut, per VantageScore CEO
Millennials’ retirement outlook may be worse than those of older generations, per CNBC. About 38% of early millennials, those born in the 1980s, will have “inadequate” retirement income at age 70, per CNBC.
Millennials are now the least likely to care about finding day-to-day enjoyment from their work. Read more
Powell revealed that some Fed policymakers had discussed the rationale for a rate cut during the current session, but the consensus was to potentially consider it at the next meeting, depending on forthcoming data. Read more
The labor force participation rate among native-born workers has been on the decline, but among prime-age native-born workers, the labor force participation rate has actually been rising, Fed data shows, Krugman said. Read more
Gold futures have hit $2,500 for the first time ever in history, in overnight trading today.
Additionally, the bill outlines a target of accumulating 1 million Bitcoin, which represents approximately 5% of Bitcoin's total supply Read more
Powell revealed that some Fed policymakers had discussed the rationale for a rate cut during the current session, but the consensus was to potentially consider it at the next meeting, depending on forthcoming data. Read more
JUST IN: Applied Materials, $AMAT, was informed by US officials that it won’t receive Chips Act money for a $4 billion project, per Bloomberg
If you wanted to get notified when Pelosi buys or sells, subscribe to Unusual Whales. We have her portfolio, along with other politicians. See more