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By MATT OTT, Associated Press Business Writer

WASHINGTON (AP) — U.S. consumer confidence declined sharply in January, hitting the lowest level since 2014 as Americans grow increasingly concerned about their financial prospects.

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The Conference Board said Tuesday that its consumer confidence index cratered 9.7 points to 84.5 in January, falling below even the lowest readings during the COVID-19 pandemic.

A measure of Americans’ short-term expectations for their income, business conditions and the job market tumbled 9.5 points to 65.1, well below 80, the marker that can signal a recession ahead. It’s the 12th consecutive month that reading has come in under 80. read more

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Wall Street is flirting with a record on Tuesday, as stocks zigzag under the market’s surface following mixed profit reports from UnitedHealth, General Motors and other big companies.

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The S&P 500 rose 0.4% and could top its all-time high set a couple weeks ago, even though more stocks fell within the index than rose. The Dow Jones Industrial Average was down 483 points, or 1%, as of 12:57 p.m. Eastern time, and the Nasdaq composite was 0.9% higher.

UnitedHealth Group tumbled 19.8% despite reporting a profit for the latest quarter that was a bit better than analysts expected. More attention was on the company’s forecast for revenue in the upcoming year, which fell short of Wall Street’s expectations and could be weaker than it was in 2025. read more

By Yuliya Goldshteyn, Bankrate.com

Opening a savings account for your child can provide a safe place for their money and allow the funds to earn some interest — all while teaching them about banking and money management.

When setting up an account for a child, parents or guardians can choose between a custodial account or a savings account designed for kids. Many financial institutions offer both options.

How to open a savings account for a child

Opening a savings account for a child is very similar to opening one for an adult. Here are the steps to take to open a savings account for a baby or child.

1. Choose your account

There are two types of savings accounts you can open for a kid: a custodial account and a kid’s savings account.

• A custodial account is an account that adults can set up and manage on a minor child’s behalf until the child is a legal adult. These can be standard savings accounts, certificates of deposit (CDs), or certain investment accounts that allow you to hold assets other than cash (called uniform transfer to minors accounts (UTMA) or uniform gift to minors accounts (UGMA).
• A kid’s savings account is usually opened as a joint savings account where both the parent or guardian and the minor child are the owners. These accounts often come with features like parental controls, educational tools and features for learning about money.

You can find both types of accounts at banks and credit unions, though not all financial institutions offer them. For UTMAs and UGMAs, you can also look at brokerages.

Two of the most important things to look for in a savings account for a kid are high yields and low (or no) fees. Before you choose, ask about account special features, such as parental controls. read more

By RIO YAMAT, AP Airlines and Travel Writer

Winter weather can upend even the best-laid travel plans, but one less thing to worry about is losing money if your flight is canceled: U.S. airlines are required to provide refunds.

A monster storm started to wreak havoc Saturday across parts of the country, with 12,200 weekend flights and counting canceled. Forecasters warned that catastrophic damage, especially in areas pounded by ice, could rival that of a hurricane.

Here’s a guide for winter travelers as flight disruptions pile up:

Keep an eye on weather forecasts

When airlines expect bad weather to create problems for flights, they often give travelers a chance to postpone their trips by a few days without having to pay a fee. Search online for your airline’s name and “travel alerts” or similar phrases to look for possible rescheduling offers.

American Airlines, for example, said it is waiving change fees for passengers impacted by the storm and adding extra flights around the country in an effort to help passengers reach their destination after the storm passes. read more

By WYATTE GRANTHAM-PHILIPS, AP Business Writer

From family-run cafes to retail giants, businesses are increasingly coming into the crosshairs of President Donald Trump’s mass deportation campaign, whether it’s public pressure for them to speak out against aggressive immigration enforcement or becoming the sites for such arrests themselves.

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In Minneapolis, where the Department of Homeland Security says it’s carrying out its largest operation ever, hotels, restaurants and other businesses have temporarily closed their doors or stopped accepting reservations amid widespread protests. read more