BusinessBloomberg•21 hours agoTrump's Dollar Mess: Losses Pile Up as Political Drama Mounts
President Donald Trump loves to trumpet the record run in U.S. stocks. “Stock market hits another high with spirit and enthusiasm so positive,” he tweeted on July 12, in one of eight posts about the market this month. The greenback has fallen hard on his watch and currency traders are now betting on even more declines.
- NewsMarketWatch•5 hours ago
Where did baby boomers go wrong? This generation isn’t financially prepared for retirement
65- to 74-year-olds only have an average of $300,000 in their defined contribution plansWarner Bros/Courtesy Everett CollectionNear retirees simply aren’t saving enough for their retirement in their defined contribution plans. Retirement is right around the corner for baby boomers — if they haven’t already entered it — yet so many are financially unprepared. Baby boomers, or those born between 1946 and 1964, expect they’ll need $658,000 in their defined contribution plans by the time they retire, but the average in those employer-sponsored plans is $263,000, according to a survey of 900 investors by financial services firm Legg Mason.
- NewsMarketWatch•8 hours ago
Altria's stock falls further but RBC says don't buy the dip
Shares of Altria Group Inc. continued to fall in premarket trade Monday, in the wake of a new Food and Drug Administration proposal to lower nicotine levels in cigarettes, with RBC Capital warning investors not to buy the dip. RBC analyst Nik Modi upgraded Altria to sector perform from underperform but kept his stock price target at $62, which was 7.4% below Friday's closing price of $66.94. Among his concerns, Altria is not a buyout candidate, valuation is only "fair," fundamentals remain under pressure following disappointing second-quarter results and "we are not going to make a leap of faith" on the launch of the company's new smokeless cigarette product IQOS in the U.S. given limited visibility on regulatory issues.
