David JC Cutler

Consumer prices rose 8.5% in July, less than expected as inflation pressures ease a bit

KEY POINTS The consumer price index rose 8.5% in July from a year ago, belowexpectations, due largely to slumping energy prices.Excluding volatile food and energy prices, so-called core CPI rose5.9% annually and 0.3% monthly, compared with respective estimates of6.1% and 0.5%.The report was good news… Read More »Consumer prices rose 8.5% in July, less than expected as inflation pressures ease a bit

On rare days, the market rises 5% — or even 10%, Wells Fargo finds. How to make sure you’re there for it

KEY POINTS A new Wells Fargo analysis looked at the best 20 days for the S&P 500between August 1992 and July 2022. Almost half of them occurred amid adownturn.The findings underscore the impossibility of timing the market, withthe dips and upswings being so jumbled together.… Read More »On rare days, the market rises 5% — or even 10%, Wells Fargo finds. How to make sure you’re there for it

Reconciliation bill includes nearly $80 billion for IRS including enforcement, audits: What that means for taxpayers

KEY POINTS Senate Democrats on Sunday passed their climate, health, and taxpackage, including nearly $80 billion in funding for the IRS.The Inflation Reduction Act allocates $79.6 billion to the agency overthe next 10 years, with more than half of the money going toenforcement. Senate Democrats… Read More »Reconciliation bill includes nearly $80 billion for IRS including enforcement, audits: What that means for taxpayers