The U.S. government’s red ink for fiscal 2019 swelled past the $1 trillion mark in August, the first time that level has been eclipsed in seven years, the Treasury Department reported Thursday. The total shortfall rose to nearly $1.07 trillion, thanks to a difference between revenue and expenses of more than $214.1 billion in August.
Investing
Traders on the floor of the New York Stock Exchange. Brendan McDermid | Reuters Stock pickers may be on the comeback trail. Forty-eight percent of active U.S. stock funds outperformed their passive peers over the 12 months through June, up from 37% year-over-year, according to Morningstar, which analyzed more than 4,000 funds with $12.5 trillion
Charles Schwab is laying off 600 workers in response to a slowing economy and pressure from slumping interest rates, the company said. The cuts represent about 3% of the bank’s workforce and comes across all sectors amid an effort to streamline expenses as net interest revenue comes under pressure. “This Spring, we initiated a process
Traders and financial professionals work at the opening bell on the floor of the New York Stock Exchange (NYSE) on August 6, 2019. Drew Angerer | Getty Images Value is seeing the light of day finally. A huge rotation out of momentum stocks is underway as investors pile on bets on economically sensitive, cheap stocks
The market is rotating. Value is back. Momentum is out. Cyclicals rule. Defensives are so August. No one wants low volatility. What is it we are rotating out of, and what are we rotating into? There’s a lot of confusion about different ways to slice and dice the markets, and which stocks fall into which