Money

If you earn six figures, you’re more likely to lose your job

Published

2 years ago

August 17, 2023

ticker NEWS

The economic landscape is proving to be challenging even for the wealthy, as high earners in the United States face an alarming rate of layoffs.

Americans earning more than $125,000 annually are experiencing layoffs at a rate three times higher than those with lower or moderate incomes, according to a study conducted by Bank of America.

The study cites data related to jobless benefits deposited in customer accounts to support its findings.

The report highlights a notable shift in unemployment trends, with July witnessing a significant 70% increase compared to the previous year in the number of individuals earning six figures who received unemployment benefits.

Sectors that traditionally offer high-paying positions, such as technology and finance, have been hit hard by layoffs over recent months.

Tech nightmare

Tech giants like Meta (formerly Facebook), Amazon, and Alphabet, as well as other companies based in Silicon Valley, have collectively laid off over 227,000 employees since the start of the year, according to Layoffs.fyi.

Meanwhile, major financial institutions like Goldman Sachs, Morgan Stanley, and Citigroup have also let go of thousands of employees.

The report indicates that the layoffs are disproportionately affecting high-income households, while those with lower and middle incomes have shown more resilience.

The phenomenon comes as a surprise, especially considering the robust recovery of the stock market in 2022, which significantly boosted the value of 401(k) retirement accounts.

Asset drop

However, the number of American adults with assets totaling at least $1 million has seen a decline of 1.8 million, falling to 22.7 million at the end of the previous year.

This information comes from the Global Wealth Report compiled by analysts at Credit Suisse and UBS. The report further points out that the US, with the highest concentration of millionaires globally (38% of the total), experienced a notable decrease in the number of individuals possessing at least seven figures in net worth.

The decline in wealth among millionaires is attributed to several factors, including the 33% drop in the NASDAQ and 20% dip in the S&P in 2022. This led to substantial losses for individuals who had witnessed strong growth in their 401(k)s and IRAs in previous years.

$1.4 loss

The report also underscores the challenges faced by the ultra-wealthy. In 2022, the 500 richest individuals globally experienced a collective loss of $1.4 trillion, as reported by the Bloomberg Billionaires Index.

Factors such as supply chain disruptions, geopolitical events like the Russian invasion of Ukraine, China’s struggles with COVID outbreaks, rising inflation, and stock market fluctuations have collectively contributed to the erosion of wealth among the nation’s wealthiest individuals.

Money

Are we in an AI bubble or just a market reality check?

Tech stocks falter as AI boom faces reality; market shifts towards gold amidst growing investor caution.

Published

4 days ago

November 6, 2025

Ahron Young

Tech stocks falter as AI boom faces reality; market shifts towards gold amidst growing investor caution.

Global tech stocks are losing altitude as investors question whether the AI boom has gone too far — or if the market is simply returning to earth after years of euphoric growth. With valuations for chipmakers and AI giants stretched to perfection, analysts warn that expectations may finally be colliding with economic reality.

In this segment, Brad Gastwirth from Circular Technologies joins us to unpack the trillion-dollar question: is this a healthy correction or the first crack in the AI gold rush? From hyperscaler capex surges to regulatory risks and fragile market leadership, he breaks down what’s driving investor nerves.

We also explore how the market rotation into gold and real assets reflects growing caution, and what this could mean for the future of AI-driven investing.

Subscribe to never miss an episode of Ticker – https://www.youtube.com/@weareticker

#AIBubble #TechStocks #MarketCorrection #Semiconductors #Investing #FinanceNews #AIStocks #TickerNews

Money

Inflation rise reduces chances of Reserve Bank rate cut

Inflation spikes, drastically reducing chances of a Reserve Bank rate cut amid economic pressures and rising costs

Published

2 weeks ago

October 29, 2025

ticker NEWS

Inflation spikes, drastically reducing chances of a Reserve Bank rate cut amid economic pressures and rising costs

In Short:
– Rate cut likelihood by the Reserve Bank has decreased due to a rise in annual inflation to 3.2 per cent.
– Significant price increases in housing, recreation, and transport are raising concerns for the Reserve Bank.

The likelihood of a rate cut by the Reserve Bank has decreased significantly after a surge in annual inflation.

The Australian Bureau of Statistics reported that inflation for the year ending September rose to 3.2 per cent, reflecting a 1.1 per cent increase.

Trimmed mean inflation, a crucial measure for the Reserve Bank, was recorded at 1 per cent for the quarter and 3 per cent for the year. The bank anticipates inflation to reach 3 per cent by year-end, while trimmed mean inflation is expected to slightly decrease.

The quarterly rise of 1.3 per cent in September exceeded expectations. Governor Bullock noted that a deviation from the Reserve Bank’s projections could have material implications.

Financial markets reacted promptly, with the Australian dollar rising against the US dollar, while the ASX200 index fell.

The most significant price increases were observed in housing, recreation, and transport, indicating widespread price pressures that concern the Reserve Bank.

Despite the unexpected inflation rise, some economists believe the Reserve Bank may still consider rate cuts in December, viewing current price spikes as temporary due to the winding back of subsidies.

Economic Pressures

Broad-based economic pressures suggest that the Reserve Bank may not reduce interest rates at its upcoming meeting. Analysts highlight the need for ongoing support for households facing cost-of-living challenges.

Money

Wall Street hits record highs on low inflation

Wall Street hits record highs on cool inflation and strong earnings ahead of key Federal Reserve interest rate decision

Published

2 weeks ago

October 26, 2025

Ahron Young

Wall Street hits record highs on cool inflation and strong earnings ahead of key Federal Reserve interest rate decision

In Short:
– U.S. stocks rose to record highs on Friday due to lower inflation and strong corporate earnings.
– Key earnings reports from major companies are expected next week, influencing market trends.

U.S. stocks rose to record highs on Friday due to lower-than-expected inflation data and positive corporate earnings.The S&P 500 and Nasdaq achieved their largest weekly gains since August. The Dow saw its biggest jump from Friday to Friday since June.

The Labor Department reported that the Consumer Price Index was slightly cooler than analysts’ predictions, easing concerns about inflation impacts from tariffs. This development suggests a likely interest rate cut by the Federal Reserve at its upcoming meeting.

Ryan Detrick from Carson Group noted the positive inflation news may facilitate forthcoming Fed rate cuts. Despite the ongoing government shutdown affecting data releases, this CPI report provided much-needed clarity.

Earnings reports are continuing, with 143 S&P 500 companies having reported results. Growth expectations for third-quarter earnings have risen to 10.4%. Detrick indicated a strong opening to the earnings season with a significant percentage of companies exceeding expectations.

This coming week, key earnings will be reported from Meta Platforms, Microsoft, Alphabet, Amazon, and Apple, alongside industrial companies like Caterpillar and Boeing.

The Dow rose 472.51 points to 47,207.12. The S&P 500 increased by 53.25 points to 6,791.69, while the Nasdaq gained 263.07 points, reaching 23,204.87.

Alphabet gained 2.7% following a deal expansion with Anthropic. Coinbase saw a 9.8% increase from a JPMorgan upgrade. In contrast, Deckers Outdoor’s shares fell 15.2% after lowering sales forecasts.