Stocks closed higher Monday ahead of a busy week on Wall Street. A bare economic calendar allowed traders to turn their attention to tomorrow morning's inflation update, with the Labor Department set to unveil the next CPI report report ahead of the opening bell. And while today's buying was fairly broad-based, several Big Tech stocks enjoyed an outsized lift on reports that Facebook parent Meta Platforms ( META (opens in new tab)) is planning to pass out more pink slips. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. (opens in new tab)The outsized gain in Meta stock helped the broader technology (+1.8%) and communication services (+1.5%) sectors outperform today, as well.
Sign upWhere to Put Safe Money Today (opens in new tab)True, the latest Fed rate hike once again underscored the importance of the central bank taking a highly aggressive stance against the highest inflation readings in four decades . The Fed also for the first time acknowledged that its rapid pace of rate hikes might eventually hurt the economy with a "lag." – Tom Siomades, chief investment officer at AE Wealth ManagementWhy Stock Buybacks Could Accelerate in Q4 (opens in new tab)"As we move into the final weeks of 2022, it is clear the cumulative effect of Fed rate hikes initiated back in March will start to show. The terminal fed funds interest rate, or neutral rate, could reach 5% in late 2023 before falling back to 2.5% later in 2024 if full employment persists and prices stabilize." It looks like the Fed is nearing the end of its rate hike cycle.4 months ago Kiplinger
IRA and 401(k) contribution limits are going up for 2023…and by a lot! The contribution limits are subject to adjusts for inflation every year, but they don't always rise (or go up by much) if inflation is in check. However, given the recent high inflation rates, the retirement account contribution limits jumped considerably for 2023. The additional IRA "catch-up" contribution for people 50 and over is not subject to an annual cost-of-living adjustment and stays at $1,000 for 2023 (for a total 2023 contribution limit of $7,500 if you're at least 50 years old). The contribution limit for a SIMPLE IRA, which is a retirement plan designed for small businesses with 100 or fewer employees, is also increased for 2023.5 months ago Kiplinger
Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Sign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice. The best consumer staples stocks (opens in new tab) are a good place to start. 5 Best Dow Dividend Stocks to Buy Now (opens in new tab)But few sectors are as dividend-rich and defensive as healthcare. We've found several healthcare stocks set to reach new heights (opens in new tab) as the pandemic continues to ebb.4 months ago Kiplinger
Stocks closed mixed Thursday in a seesaw session driven by conflicting corporate earnings reports and a cloudy picture on the health of the U.S. economy. But a disappointing revenue forecast from Facebook parent Meta Platforms (META (opens in new tab), -24.6%) after Wednesday's close weighed on the Nasdaq Composite. Stocks had been grinding higher since mid-October on encouraging third-quarter earnings reports. Dividend payers in defensive sectors, such as the best consumer staples stocks (opens in new tab) or the best Dow dividend stocks (opens in new tab), will also stand patient investors in good stead. Have a look at the 65 best dividend stocks (opens in new tab) you can count on for reliable and rising dividends.5 months ago Kiplinger
Some mixed economic data and the release of the minutes (opens in new tab) from the last meeting of the Federal Reserve's rate-setting committee made for a volatile session on Wednesday. The Best Warren Buffett Dividend StocksIf nothing else, Wednesday's session was a reminder that volatility is very much carrying over to the new year. The best bear market stocks (opens in new tab) and best bear market ETFs (opens in new tab) will also help do the trick. For those looking for steady and reliable equity income, the best Dow dividend stocks (opens in new tab) and the best dividend-growth stocks (opens in new tab) will also stand one in good stead. Warren Buffett's Berkshire Hathaway (BRK.B (opens in new tab)) owns dozens of dividend stocks – and Warren Buffett's best dividend stocks are always worth a closer look (opens in new tab).2 months ago Kiplinger
The new Saver's Match isn't effective until 2027, so the existing tax credit will still be around for a few more years. Sign upThe Current Saver's Tax CreditCurrently, qualified taxpayers who contribute to a retirement plan (e.g., a 401(k), traditional IRA or Roth IRA) can claim the Saver's Tax Credit on their tax return. For more information on the current credit, see Saver's Credit: A Retirement Tax Break for the Middle Class. Saver's CreditThe SECURE 2.0 Act makes a number of important revisions to the Saver's Credit starting in 2027. For more information on the SECURE 2.0 Act, see:Massive Year-End Budget Bill Includes Bipartisan SECURE 2.0 Retirement Savings PackageNew RMD Rules: Starting Age, Penalties, Roth 401(k)s, and MoreCatch-Up Contributions to Retirement Accounts Boosted by SECURE Act 2.03 months ago Kiplinger
Stocks were choppy Wednesday as investors looked ahead to and then assessed the mid-afternoon release of the minutes from the Federal Reserve's February meeting. The Fed minutes showed most central bankers supported the 25 basis point rate hike made earlier this month. However, a few central bankers believed that a larger rate hike "would more quickly bring the target range close to the levels they believed would achieve a sufficiently restrictive stance." The minutes also indicated support for another 0.25% rate hike at the Fed's March meeting. Sign upSign up for Kiplinger's FREE Investing Weekly e-letter for stock, ETF and mutual fund recommendations, and other investing advice.1 month ago Kiplinger