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[ad_1] S&P 500 falls Monday as Wall Street takes a breather after its best week since June  CNBC Stocks Poised to Drop on Monday  Barron’s More Key Economic Data On The Horizon And Other Themes To Watch For Next Week  Barchart 5 things to know before the stock market opens Monday  CNBC Stock market news live updates: Stocks waver as retail earnings loom  Yahoo Finance View Full Coverage on Google News [ad_2]

[ad_1] This week’s podcast is a conversation with Douglas McKelvey — a screenwriter, songwriter, and author of several books including Every Moment Holy — a book of prayers for every day life. In this episode I share how Every Moment Holy and the prayers in it have impacted me and I get to ask him the questions I’ve always wondered. Doug shares the story behind why he wrote this book of prayers, how he decided which topics to tackle, and where he found the inspiration. I love how he challenges us to make prayer such a backbone of our every day life — and that there is no task that is too menial that we can’t bathe in prayer. In fact, one of the parts of Every Moment Holy that I love so much is that there are prayers for so many seemingly mundane aspects of life, such as washing windows, home repairs, morning coffee, and sick days to name a few! We close the episode with Doug sharing the beautiful prayer he wrote for the start of your day. .redcircle-link:link { color: #ea404d; text-decoration: none; } .redcircle-link:hover { color: #ea404d; } .redcircle-link:active { color: #ea404d; } .redcircle-link:visited { color: #ea404d; } Powered by RedCircle In This Episode [01:26] – I share about why I said yes to this interview and why I love this book. And I ask Doug to share more about himself. [03:58] – What was the inspiration behind Every Moment Holy? [08:30] – Some examples of the topics of prayers from the book. [12:34] – Doug tells us a funny story behind the book’s creation. [15:14] – How were the prayers crafted? [19:00] – What does it look like for Doug to bring God into everything he does? [23:37] – How the success and excitement around Every Moment Holy has completely blown away all expectations. [27:02] – Why we should step out and not say no — and how it can be the start of a story far beyond what we could imagine! [31:02] – Doug reads aloud his liturgy for first waking. Books Every Moment Holy by Douglas McKelvey Every Moment Holy, Vol. 2: Death, Grief, & Hope by Douglas McKelvey Every Moment Holy, Vol. 1 (Gift Edition) by Douglas McKelvey Other Resources 10 Days to Be a Happier Mom Sign up for the Hot Deals Email List MoneySavingMom.com My Instagram account (I’d love for you to follow me there! I usually hop on at least a few times per day and share behind-the-scenes photos and videos, my grocery store hauls, funny stories, or just anything I’m pondering or would like your advice or feedback on!) Have feedback on the show or suggestions for future episodes or topics? Send me an email: crystal @ moneysavingmom.com [ad_2] Source link

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[ad_1] After last week’s enormous bond and stock rally, I wondered when the Federal Reserve would make a statement to try to reverse some of that momentum. Well, it didn’t take long: on Sunday Federal Reserve Governor Christopher Waller made comments at an economic conference in Australia that made their position clear. This is the second time this year that the Fed empire has struck back after mortgage rates made a move lower. Currently, the 10-year yield has made a reversal and is already heading higher toward 3.90%. Here are some of the comments Waller made, according to tweets of Nick Timiraos of the Wall Street Journal: “The market seemed to get waaaa-aaaay out in front…. I just cannot stress this is one data point.” “We’ve still got a ways to go.” The Federal Reserve is very upset with the market’s reaction; they know housing is in a recession and jobs are being lost. If mortgage rates started to go toward 5% and stay there, their job-loss recession forecast would be harder to obtain next year. Note the language use of “waaaa-aaay out in front.” I understand that last week’s market rally in stocks and bonds was extreme — I believe people were on the other side of the trade, thinking that the CPI report would be hotter than average. People got out of that trade when that didn’t happen, and the markets ran with it. However, the Fed doesn’t think that way. They were very upset about mortgage rates heading lower earlier in the summer, and they will do their best to create more pain for American households. Timiraos further tweets:Waller on loosening of financial conditions that followed Thursday’s market reaction: “This is exactly the situation we had gotten into in July.” Back then, there was “A loosening of financial conditions that we were trying not to do.” 7.7% CPI Inflation “is enormous.” In July, mortgage rates fell from 6.25% to 5%; housing found some stabilizing for the brief period when we were in the lows 5s and the Federal Reserve members hated it. They went on a full media blitz making sure people knew they were not kidding around that Americans needed more pain, the labor market was too tight, and wage growth was too strong. The Fed, to their credit, presented a united front on this, making their case that the best way to fight inflation is for Americans to lose their jobs and for labor markets to get so weak that wage growth slows. It’s now November, but the Fed hasn’t changed its playbook: any chance of trying to avoid a recession or even attempting to reverse the housing recession will be met by a similar coordinated media blitz. This weekend is the second time the Fed has shown it was upset with the market move. However, this time mortgage rates went from 7.373% to 6.60% — far from the 5% level we saw earlier.   Waller also made the point that If you use a Taylor-type policy rule, short-term interest rates aren’t that high. “We’re not that tight. Real rates are barely positive a year out.” The Atlanta Fed defines the Taylor rule as “an equation John Taylor introduced in a 1993 paper that prescribes a value for the federal funds rate—the short-term interest rate targeted by the Federal Open Market Committee (FOMC)—based on the values of inflation and economic slack such as the output gap or unemployment gap. Since 1993, alternative versions of Taylor’s original equation have been used and called ‘simple (monetary) policy rules.’” I won’t bore you with all the historical stock market and Taylor Rule references over the decades. However, it’s clear the Fed is saying ‘Listen, the Fed funds rate isn’t that high, so stop crying. We don’t care that housing is in a recession.’ That was the point of the housing reset statement. As someone who has followed the markets since 1996, I have to say this is a clever way for Waller to talk to the markets. It shows that the Fed means what it says: they have a 4.4% unemployment rate forecast for next year, and they intend to use all their tools to make sure the labor market gets weaker and weaker. From Timiraos: Waller: The FOMC statement in November was designed to signal a potential step down to 50 basis point. “We knew the markets were going to jump for joy.” So the Fed used Powell’s press conference to “drive the point home” that it’s the ultimate level for rates that matters. I believe the Federal Reserve is getting closer and closer to the end of its Fed rate hike cycle, and they want the financial conditions to be as tight as possible to get the job-loss recession to happen. Once the job loss recession occurs, they have to be more accommodative because that is their dual mandate. My target for the Fed pivot is when jobless claims get above 323,000 on the four-week moving average. At that level, the job-loss recession has started, and the Fed would have achieved its goal of getting their job loss recession to break inflation. With inflation levels well above their 2% target level, the Fed has to sound as tough as possible now. All these aggresive push-backs by Feb members when rates go lower and stocks go higher will end when we have a job-loss recession. From multiple sources: “Everybody should just take a deep breath, calm down — we have a ways to go yet.” As you can see, the Fed isn’t happy about the move in the stock or mortgage markets. So when they say calm down, they’re saying, all that smoke about a soft landing — we don’t want a soft landing. If they did, they wouldn’t make such a big deal when mortgage rates fall, and stocks rise. My advice: don’t buy the talk that the Fed wants a soft landing; they want a higher unemployment rate and will try to talk the market into

[ad_1] Kyle Prevost, editor of Million Dollar Journey and founder of the Canadian Financial Summit, shares financial headlines and offers context for Canadian investors. Cooling inflation leads to red-hot day for the markets Part of being neighbours with the most powerful country in the world is that sometimes their news tends to get reported with a louder megaphone than our own—even in our own backyard. That was certainly the case in business news this week as the U.S. consumer price index (CPI) data was released. October’s year-over-year inflation came in below expectations at 7.7%, which is down from 8.2% in September. The S&P 500 shot up 5.5% in response, the 15th-largest daily gain for the index since 1950.  The TSX also rose that day, up a strong 3.3%. Expectations of a 0.75% rate increase at the next U.S. Federal Reserve funds meetings decreased as traders started to lean towards only a 0.5% increase. The drastic movement we saw in the markets around the world illustrates just how important U.S. interest rate moves are right now. Hopefully this deceleration of prices allows the Fed the breathing room they feel they need to stand back and observe before taking more dramatic actions. Several really smart investment folks are getting nervous or downright hostile about the risks that the Fed is courting by raising interest rates so quickly.  On a recent Masters in Business podcast, guests chief investment officer Jeremy Schwartz and investing prof Jeremy Siegel broke down why they’re scared of overtightening. Considering these two market gurus just put the finishing touches on the sixth edition of Stocks for the Long Run, I’d say their predictions are much more worthy of consideration than most. This book is commonly cited as the most authoritative text on historical returns of the U.S. stock market. The other big news story this week was, of course, the U.S. midterm elections. When we get past the pageantry that is the U.S. electoral process, we see that the markets generally embrace the idea of a “split government.” This is due to the fact that investors enjoy stability. And, in this polarized age, it is quite unlikely that major corporate tax legislation is bound to change much with a Democratic president likely to veto any proposed changes from the Republican House of Representatives. Perhaps some of this “no changes needed” psychology is behind the fairly large outperformance of the U.S. stock market in years that follow midterm elections. That said, the S&P 500 dropped 2% on Wednesday (before skyrocketing on Thursday) likely due to a mix of general unease with the yet-to-be-determined makeup of the new Congress, along with a slight pro-business bias that a stronger Republican turnout would have spurred. Source: Forbes Disney’s returns aren’t magical To wrap up U.S. markets before moving on to Canadian happenings, earnings season is beginning to tail off for our neighbours to the south. Here’s a look at a few notable reports this week. (Disney and Mosaic report in U.S. dollars, while BioNTech reports in euros.) Disney (DIS/NYSE): Earnings per share of $0.30 (versus $0.55 predicted) and revenues of $20.15 billion (versus $21.24 billion predicted). BioNTech (BNTX/NASDAQ): Earnings per share of €6.98 (versus €3.42 predicted) and revenues of €3.46 billion (versus €1.90 billion predicted). Mosaic (MOS/NYSE): Earnings per share of $3.22 (versus $3.40 predicted) and revenues of $5.35 billion (versus $5.78 billion predicted). Disney’s substantial earnings miss was a pretty big surprise and share prices fell 8% on Tuesday after earnings. While Disney+ had a solid quarter in terms of adding more accounts than analysts predicted, Disney’s streaming companies still aren’t even close to profitable. With the rest of the company not bringing in quite the anticipated profits, investors were quick to punish “The House of Mouse.” German company BioNTech (listed on the NYSE via depositary share) also had a rough quarter.  With COVID-19 waning, analysts had predicted a massive earnings drop. While the biotech standout did see profits drop 43% year-over-year, that wasn’t quite as bad as many in the industry had predicted. Consequently, shares actually rose 4.2% on Tuesday after the earnings announcement. Mirroring its Canadian competitor Nutrien’s (NTR/TSX) disappointing earnings results from last week, potash and fertilizer heavyweight Mosaic also saw their share price take a hit. That said, despite the massive fall from $78 per share in April to today’s $49.63, Mosaic is still up over 23% on the year. Here’s a quick comparison of the Canadian versus American plays on potash/fertilizer scarcity. Source: Google Finance Source: Google Finance  Canadian pipelines continue to pump profits If you want to profit from Canada’s natural resource bonanza without direct exposure to the volatile price of oil, then pipelines seem like a logical choice. As long as oil and natural gas flow, these companies should continue to make money and pay dividends. All values in this section are in Canadian dollars. Enbridge (ENB/TSX): Earnings per share of $0.67 (versus $0.66 predicted) and revenues of $11.57 billion (versus $12.97 billion predicted). Keyera (KEY/TSX): Earnings per share of $0.56 (versus $0.46 predicted). TC Pipelines (TRP/TSX): Earnings per share of $1.07 (versus $0.99 predicted) and revenues of $3.80 billion (versus $3.65 billion predicted). Pembina Pipelines (PPE/TSX): Earnings per share of $1.32 (versus $0.61 predicted) and revenues of $2.78 billion (versus $2.53 billion predicted). Investors largely got what they paid for this quarter. Sometimes no news is good news. Demand for pipeline capacity remains strong, and supply remains severely constrained. (For more reading, visit milliondollarjourney.com.) As long as oil and natural gas companies are willing to do anything they can to get their products to market, the profit margins and overall revenues for these midstream operators should stay at their peak. With all four companies paying a dividend close to 6%, getting what you paid for is a pretty good deal! The best ETFs in Canada read now Insurance company investors need coverage for their portfolio  Here’s looking at other Canadian earnings this week. Stay tuned next week for a roundup of the Brookfield family

[ad_1] There are many ways to build long-term wealth without an actual J-O-B. Having enough income-producing assets working in your favor can make it possible to “live rich” – or at least get by – without ever having to clock in for an employer again. It’s why you see all kinds of wealthy people retiring early without having to change their lifestyles. These people have income-producing assets spinning off profits or dividends, and they use those funds to pay for their bills and lifestyle. When it comes to income-producing assets, more is always better! In fact, having multiple income sources is the best way to feel secure when you’re relying on alternative income sources to leave your 9 to 5. Table of Contents What Are Income-Producing Assets? #1: Dividend Paying Stocks #2: Real Estate Crowdfunding #3: Rental Properties #4: Digital Real Estate #5: Online Savings Vehicles  #6: Traditional Stock Market Investing #7: Farmland Investments with FarmTogether #8: Digital Products  #9: Renting Your Car #10: Renting Out Your Own Home #11: Mineral Rights #12: Short-Term Vacation Rentals #13: Annuities #14: Owning Your Own Business #15: Investing in Small Businesses #16: Art Investing #17: Bonds  #18:  Alternative Investments  #19: Cryptocurrency #20: Online Brands #21: Royalties The Bottom Line on Adding Income Generating Assets What Are Income-Producing Assets? But what are income-producing assets, anyways? While the definition can be somewhat vague, they are assets that generate reliable income or cash flow over time. Income-producing assets help you earn money while you sleep, and we all know what Warren Buffet had to say about that: “If you don’t find a way to make money while you sleep, you will work until you die.” – Warren Buffet If you want to avoid working until you die, you must have some income-producing assets working on your behalf. Let’s review some of the best ones to consider for your portfolio and how they work. #1: Dividend Paying Stocks Dividend stocks are one of the easiest income-generating assets to get into because you can start with small sums of money. What separates dividend stocks from other types is the fact that they pay out dividends, or recurring income, to their investors. Dividend stocks are also issued by the most profitable companies, so they are seen as less risky. A wide range of stocks from various sectors, along with ETFs and mutual funds, can all offer dividends, making it possible to craft a dividend stock portfolio that suitds your needs and goals. Conversely, expense ratios for dividend mutual funds and ETFs can be higher than for non-dividend options. With that in mind, you’ll want to do plenty of research and compare ongoing expenses carefully before you dive in. If you’re looking for a place to invest in dividend stocks, I recommend you check out Robinhood since it lets you invest with no fees or commissions, or M1 Finance, which lets you invest in fractional shares of dividend stocks. #2: Real Estate Crowdfunding Real estate crowdfunding is another option to consider if you want an income-producing asset with a low barrier to entry. With crowdfunding, you are pooling your money with other investors, and the company overseeing the plan invests that money into different types of real estate. Fundrise, one of the most popular real estate crowdfunding platforms, allows you to get started with as little as $10. Your investment is placed into commercial and residential real estate developments. From there, you can secure a regular return on your funds based on the rental income produced by the underlying real estate investments in your portfolio. While Fundrise hasn’t been around forever, they do have solid gains to report so far. For example, Fundrise clients achieved an average return of 7.31% in 2020, 22.99% in 2021, and 5.52% during the first half of 2022. #3: Rental Properties If crowdfunding real estate isn’t for you, consider becoming a landlord. This strategy can work with both commercial and residential real estate, although the barrier to entry is much higher than real estate crowdfunding. In most cases, you’ll need a minimum of 20% down to purchase an investment property – to buy a rental property worth $300,000, you would need a minimum of $60,000 in cash just to get started. Many people leverage a strategy known as house hacking to get around real estate’s high barrier to entry. Here’s how it works. You purchase a multi-unit property and live in one of the units while renting the others out. This way, you can qualify for more traditional mortgage products with lower down payment requirements. Buyers can even use a first-time homebuyer program like the FHA loan to purchase properties with up to four units and as little as 3.5% down. Whichever way you go, rental properties are an ideal income-producing asset as they generate regular monthly income. Just remember that being a landlord isn’t for everyone – there will always be bumps in the road if you manage your properties yourself. #4: Digital Real Estate Another income producing asset comes in the form of digital real estate. Funny enough, you are currently occupying space on my own piece of digital real estate – this website. You are on my lawn right now, and that’s okay with me! Why? Because I earn commissions when you click on affiliate links and buy stuff, and from the display ads you see on the page. Good Financial Cents has been around for over a decade, and I have used it to earn millions of dollars blogging along the way. In addition to websites like mine that earn income through traffic and affiliate sales, other types of digital real estate include: Assets held in the metaverse Authority websites that focus on a specific niche eCommerce stores that sell physical products Digital products such as courses and printables Domain names bought and sold for profit Email lists that are built and sold for profit Membership groups that require a monthly or annual fee While getting started in digital real

[ad_1] Democrats seal control of U.S. Senate with win in Nevada  Reuters Catherine Cortez Masto defeats Adam Laxalt in Nevada, clinching control of Senate for Democrats  Yahoo News Democrats maintain control of the Senate  KTLA 5 Catherine Cortez Masto wins Nevada Senate election in 2022 midterms  MSNBC Midterms Updates: Democrats Keep Control of Senate With Victory in Nevada  The New York Times [ad_2]

[ad_1] If you’re a part of the military community, don’t miss out on all of these Veterans Day freebies you can score! {Love free stuff? Don’t miss out on this big list of 50 FREEBIES you can also sign up for right now, plus be sure to check out our latest Free Food Deals!} Veterans Day Freebies 2022 Are you a veteran or know someone who is? Don’t miss all of these great Veterans Day freebies and deals that you can score on Friday, November 11th! All of these deals are valid for veterans and active duty military on Friday, November 11th, unless specified otherwise. Applebee’s: FREE entree of your choice from a special menu selection. California Pizza Kitchen: FREE entree and beverage of your choice from a special menu selection. Chili’s: FREE entree of your choice from a special menu selection. Dunkin’ Donuts: FREE donut of your choice. Golden Corral: FREE meals on Monday, November 14th, from 5 p.m. to close. IHOP: FREE Red, White, and Blueberry Pancakes. Little Caesars Pizza: FREE lunch combo. Pilot Flying J: FREE meal. Red Lobster: FREE Walt’s Favorite Shrimp, Fries, and Coleslaw meal. Red Robin: FREE Red’s Tavern Double Burger and Bottomless Steak Fries. Shoney’s: FREE All-You-Care-To-Eat Breakfast Bar until 11 a.m. on November 11th. Wendy’s: FREE Breakfast Combo. White Castle: FREE Combo Meal. U.S. National Parks: FREE entry for all visitors. Military ID is typically required for these Veterans Day Freebies. Valid only on November 11, 2022. Do you know of any other freebies we missed? Let us know in the comments! [ad_2] Source link

[ad_1] Musk warns of Twitter bankruptcy as more senior executives quit [ad_2] Source link

[ad_1] Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that! So, the question is, are we reaching the peak of inflation and close to the end of the Fed rate hike cycle? Let’s take a look at today’s data. From the CPI report: The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in October on a seasonally adjusted basis, the same increase as in September, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all-items index increased 7.7 percent before seasonal adjustment. The estimates for the CPI inflation data were for 7.9% year-over-year growth. Some people in the markets had speculated that the data would come in even hotter than anticipated —some whisper numbers were for 8.2% – 8.4% year-over-year growth. This of course led some people to believe that bond yields and mortgage rates would go much higher today. However, the report came in at 7.7% — lower even than the forecast. As a result, mortgage rates went from 7.37% yesterday to 6.67% as of this writing. On Thursday morning, the 10-year yield had a big rally, and bond yields headed lower (see above) and mortgage rates will be below 7% today. What a difference a year makes — now we’re excited to see mortgage rates getting below 7%! But it makes sense when you consider that over the last 52 weeks, mortgage rates have ranged from 3.14% to 7.37%. One of my talking points with inflation data is that the biggest driver of core inflation is shelter, and this data line lags. It lagged back in August 2020 when it was still down, and it’s crawling now on the CPI data. We already have more current data lines to show that the growth rate of inflation is cooling off. Some Federal Reserve members have commented on the fact that they know the shelter inflation data on the CPI lags — that’s a positive. Some people feared the Federal Reserve didn’t understand the lag in the CPI data, but this doesn’t appear to be the case. So, we need to understand that the CPI shelter data lags, and the cooldown will be more of a 2023 story, especially in the second half of the year. Back in September, I went on CNBC before the CPI report came out to make this point and explain that shelter inflation did have legs to grow but the growth rate couldn’t be sustained. Shelter CPI inflation data As we can see in the graph below, the growth rate of shelter inflation is moving up and this has the potential to keep going higher. One thing to remember is that we have 910,000 two-unit housing that will come on line in 2023 and this will help cool the growth rate of inflation down next year. We already see the growth rate of shelter cooling off in the data lines that are more current, so this will be a positive story in 2023.  When this data line starts to cool down, it will be the biggest factor in core inflation cooling down. This is why I wrote about how we all need to root for housing completion data to get better so we get more supply into the marketplace. The best way to deal with housing inflation is more supply, and we have a lot of two-unit construction in the pipeline.  We see some inflation data cooling off recent peaks; food and energy are not part of core inflation data as they can have wild swings. As we can see below the growth rate of the Mad Max inflationary basket is cooling off, mostly due to energy prices coming off the recent highs. Other inflationary data is also cooling off. We all know that used car prices exploded during the pandemic as supply crashed. That is already changing and has room to go lower. If you’re trying to defeat inflation by killing demand and losing jobs, you don’t have the proper supply in the market. The history of global pandemics traditionally means supply chains are stressed for two years. Now that we are all walking the earth freely (outside of China), the production supply levels are returning to normal. For today’s CPI report, the new vehicle price index, which also went parabolic during the pandemic, is coming down. Again, the best way to deal with inflation is to get more supply in the market. So does this data represent a turning point? Have we seen the peak growth rate in inflation? I would say this about this topic. Last year at this time the growth rate of a lot of inflationary data was still rising and then, on top of everything else, we had the Russian Invasion of Ukraine in February. Since then we have had massive Fed rate hikes in the system and the biggest driver of core inflation in America is set to cool down in 2023. Those facts are here today where they weren’t in November of 2021. But, the Federal Reserve feels pressure to create a job-loss recession to get the inflation data back down toward 2% and even with today’s CPI inflation data being lower, they’re still going to push us into a job-loss recession. I raised my sixth and final recession red flag as of Aug. 5, but I did write about two ways we could still avoid a nasty job loss recession. Here are two things that I would be looking for: 1. Rates fall to get the housing sector back in line. Mortgage rates falling toward 5% can stabilize housing if they have duration. Traditionally, mortgage rates below 4% boost housing demand. The bleeding needs to stop and what we have seen in the data is that buyers did come into the housing market when rates got back down toward 5%. However, 5% rates