Cash is no longer trash, says Ray Dalio, who calls it more attractive than stocks and bonds
- There’s still too much risk in stock and bond markets. Earn this easy 4.5% return while you wait for stability, says trader who hit 2 big calls in 2022.
- The groundhog saw its shadow. Historically, that is bad news for stocks.
- Opinion: ‘It’s payback time.’ U.S. stocks have been a no-brainer moneymaker for years — but those days are over.
- U.S. stocks surge to five-month highs as Meta earnings push Nasdaq into the lead
This is how the super-rich retire
- Feeling insecure about retirement? 6 ideas for getting unstuck
- Opinion: I took Social Security at 62 and now regret it. Is there a way to increase my Social Security benefit?
- Do Republicans want to cut Social Security and Medicare? Sen. Thom Tillis says those questions are based on ‘a false premise.’
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Investing
Lazard stock pops on growing macroeconomic optimism, stronger-than-expected revenue
Lazard Ltd LAZ stock is up nearly 5% after the investment bank said it’s more optimistic about macroeconomic conditions; it also beat its fourth-quarter revenue target but missed on adjusted profit. “Although the near-term outlook remains uncertain, we are cautiously optimistic regarding an improvement in the macroeconomic environment going into the second half of this year,” CEO Kenneth Marc Jacobs said on a call with analysts. Recent data shows that price increases are beginning to moderate, he said. “Since the beginning of the year, we’ve noted an increase in M&A dialogue while market sentiment seems to be improving.” Jacobs said that as the M&A market picks up, “we are well-positioned to capitalize on the recovery and gain market share.” The bank’s fourth-quarter net income dropped by 80% to $42 million, or 44 cents a share, from $210 million, or $1.86 a share, in the year-ago quarter. Adjusted profit fell to 69 cents a share from $1.92 a share and missed the estimate of 80 cents a share in a survey of analysts by FactSet. Lazard’s fourth-quarter revenue fell 31% to $671 million, but beat the Wall Street target of $670 million.
Economy & Politics
Sarah Huckabee Sanders will give Republican response to Biden’s State of the Union address
Arkansas Gov. Sarah Huckabee Sanders will give the Republican response to President Joe Biden’s State of the Union address, House Speaker Kevin McCarthy announced on Thursday. Sanders, a former White House press secretary in the Trump administration, took office in January and said in a statement: “I am grateful for this opportunity to address the nation and contrast the GOP’s optimistic vision for the future against the failures of President Biden and the Democrats.”
