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Consumer confidence slides in December to lowest level since US tariffs rolled out in April

Consumer confidence slides in December to lowest level since US tariffs rolled out in April

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By MATT OTT, Associated Press Business Writer

WASHINGTON (AP) — Consumers confidence in the economy was shaken in December as Americans grow anxious about high prices and the impact of President Donald Trump’s sweeping tariffs.

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The Conference Board said Tuesday that its consumer confidence index fell 3.8 points to 89.1 in December from November’s upwardly revised reading of 92.9. That is close to the 85.7 reading from April, when Trump rolled out his import taxes on U.S. trading partners.

A measure of Americans’ short-term expectations for their income, business conditions and the job market remained stable at 70.7, but still well below 80, the marker that can signal a recession ahead. It was the 11th consecutive month that reading has come in under 80. read more

Is ‘soft saving’ smart — or shortsighted?

Is ‘soft saving’ smart — or shortsighted?

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By Kate Ashford, NerdWallet

The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

If you’ve ever decided to save less cash in your retirement account so you could do more traveling or support an expensive hobby, you might be “soft saving” (and not even know it).

Soft saving is about choosing to spend money on things you enjoy today and stashing money away less aggressively for your later years. People who take this approach are more concerned about what they’re doing tomorrow than what they’ll be doing at age 65 or 70.

“Soft saving is being more mindful about your lived experience now and not being willing to sacrifice too much in favor of your future yet,” says Rebecca Palmer, a certified financial planner in Washington, D.C., and head of guidance for financial planning platform Fruitful. “So, the balance between prioritizing future you versus current you.” read more

US economy expands at a surprisingly strong 4.3% annual rate in the third quarter

US economy expands at a surprisingly strong 4.3% annual rate in the third quarter

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By MATT OTT, Associated Press Business Writer

WASHINGTON (AP) — The U.S. economy grew at a surprisingly strong 4.3% annual rate in the third quarter, the most rapid expansion in two years, as government and consumer spending, as well as exports, all increased.

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U.S. gross domestic product from July through September — the economy’s total output of goods and services — rose from its 3.8% growth rate in the April-June quarter, the Commerce Department said Tuesday in a report delayed by the government shutdown. Analysts surveyed by the data firm FactSet forecast growth of 3% in the period. read more

A look at the experts racing to decode Trump’s tariff rules

A look at the experts racing to decode Trump’s tariff rules

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By MATT SEDENSKY, Associated Press National Writer

NEW YORK (AP) — After a half-century immersed in the world of trade, customs broker Amy Magnus thought she’d seen it all, navigating mountains of regulations and all sorts of logistical hurdles to import everything from lumber and bananas to circus animals and Egyptian mummies.

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Then came 2025.

Tariffs were imposed in ways she’d never seen. New rules left her wondering what they really meant. Federal workers, always a reliable backstop, grew more elusive.

“2025 has changed the trade system,” says Magnus. “It wasn’t perfect before, but it was a functioning system. Now, it is a lot more chaotic and troubling.” read more

Wall Street at a standstill in holiday lull ahead of new US economic data

Wall Street at a standstill in holiday lull ahead of new US economic data

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By ELAINE KURTENBACH and MATT OTT, Associated Press Business Writers

Markets are flat early Tuesday in holiday-thinned trading before head of the release of new data on how the U.S. economy fared in the third quarter.

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Futures for the S&P 500, the Dow Jones Industrial Average and Nasdaq are all essentially unchanged before the opening bell.

Shares of the Danish pharmaceutical company Novo Nordisk jumped more than 7% overnight after U.S. regulators approved a pill version of the blockbuster weight-loss drug Wegovy, the first daily oral medication to treat obesity. Novo’s Wegovy is a GLP-1 drug that works like widely used injectables to mimic a natural hormone that controls appetite and feelings of fullness. read more