05 July 2024 Market Close & Major Financial Headlines: S&P 500 And The Nasdaq Set New Historical Highs, Closing Near The New Marks While The Dow Lumbered Along Closing Fractionally In The Green

Summary Of the Markets Today:

  • The Dow closed up 68 points or 0.17%,
  • Nasdaq closed up 0.90%, (Closed at 18,353, New Historic high 18,366)
  • S&P 500 closed up 0.54%, (Closed at 5,567, New Historic high 5,570)
  • Gold $2,399 up $29.20,
  • WTI crude oil settled at $83 down $0.75,
  • 10-year U.S. Treasury 4.277 down 0.069 points,
  • USD index $104.86 down $0.270,
  • Bitcoin $56,469 down $567 or 0.99%,
  • Baker Hughes Rig Count: U.S. +4 to 585 Canada -1 to 175

*Stock data, cryptocurrency, and commodity prices at the market closing.


Click here to read our current Economic Forecast – July 2024 Economic Forecast: One Recession Flag Removed But Little Indication The Economy Is Strengthening


Today’s Economic Releases Compiled by Steven Hansen, Publisher:

Total nonfarm payroll employment increased by 206,000 in June 2024, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in government, health care, social assistance, and construction. The household survey (which gives us the unemployment rate) says employment gains were 116,000 whilst the establishment survey (which gives us the headline employment numbers was 206,000. This growing difference between the establishment survey and the household survey this year is significant:

  • establishment survey = 1,334,000 year-to-date or 222,000 average growth per month in 2024
  • household survey = 16,000 year-to-date or 3,000 average growth per month in 2024

The bottom line is that the establishment survey is saying we have good jobs growth – and the household survey is saying we are close to being in a recession.

And consider that almost three-quarters of the establishment survey’s jobs created this month came from government and healthcare. Is this the type of job growth one would expect from a healthy economy?

NFIB’s June 2024 jobs report found solid employment hiring plans among small business owners, but overall unsuccessful attempts to hire additional workers. A seasonally adjusted 37% of all small business owners reported job openings they could not fill in their current period, down five points from May. NFIB Chief Economist Bill Dunkelberg’s stated:

This summer, small business owners continue to try to hire and find qualified employees for their open positions. The number of small businesses with one or more job openings they can’t fill remains at exceptionally high levels. However, owners are raising compensation at historically high levels to attract and retain employees.

Here is a summary of headlines we are reading today:

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

The Market in Perspective

Here are the headlines moving the markets.

Liberty Ostrava’s Insolvency Raises Concerns for European Steel Industry

Via Metal Miner   Liberty Steel Ostrava, a steel manufacturing plant in the Czech Republic, recently entered an insolvency process. This comes after its parent company, GFG Alliance, put the plant up for sale and filed for judicial reorganization in mid-June. A source within GFG Alliance told MetalMiner that a regional court in Ostrava, which lies in the eastern Czech Republic’s Moravian-Silesian Region, officially declared the plant insolvent on June 21. “Since December, Liberty has explored every possible option to support and…

Read more at: https://oilprice.com/Metals/Commodities/Liberty-Ostravas-Insolvency-Raises-Concerns-for-European-Steel-Industry.html

Libyan Oil Minister Temporarily Steps Aside

Mohamed Oun said this week he would temporarily stop working as Libya’s Oil Minister, seeking clarification from the prime minister about his job as the role has become volatile since Oun was removed amid an investigation in March and later reinstalled in May. Oun wants Abdul Hamid Dbeibeh, the prime minister of the internationally-recognized Government of National Unity in Tripoli, to resolve the issue by either allowing him to perform his duties as oil minister or dismissing him in accordance with the applicable laws and legislation.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Libyan-Oil-Minister-Temporarily-Steps-Aside.html

Saudi Crude Oil Exports Slump to 10-Month Low

The world’s top crude exporter, Saudi Arabia, shipped the lowest volumes of oil in June for ten months as Saudi domestic consumption grew and Russia continued to take market share from the Kingdom in key Asian export destinations. Saudi crude oil exports fell to 5.6 million barrels per day (bpd) in June, tanker tracking data compiled by Bloomberg showed on Friday. This export volume is only 250,000 bpd more than the low Saudi exports at the beginning of the pandemic in 2020, according to Bloomberg’s estimates.  Earlier…

Read more at: https://oilprice.com/Energy/Crude-Oil/Saudi-Crude-Oil-Exports-Slump-to-10-Month-Low.html

Oil Production in Iraq’s Kirkuk Jumps To 360,000 Bpd

Iraqi state-run North Oil Company (NOC) has boosted its crude oil production from the Kirkuk governorate to above 360,000 barrels per day (bpd), a company source told Shafaq News Agency on Friday. North Oil Company (NOC), whose origins date back to the setting-up of Iraq Petroleum Company (IPC) in Kirkuk in 1929, looks to further raise oil production in Kirkuk to 400,000 bpd by the end of 2024, according to the news agency’s source.    “This increase is expected following the development and rehabilitation of several…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Oil-Production-in-Iraqs-Kirkuk-Jumps-To-360000-Bpd.html

U.S. Gas Rig Count Jumps as Oil Rig Count Remains Unchanged

The total number of active drilling rigs for oil and gas in the United States rose this week, pressing pause on a declining rig pattern, according to new data that Baker Hughes published on Friday. The total rig count rose by 4 to 585 this week, compared to 680 rigs this same time last year. The number of oil rigs remained unchanged this week, after falling by 6 in the week prior. Oil rigs now stand at 479, down by 61 compared to this time last year. The number of gas rigs rose by 4 this week to 101, a loss of 34 active gas rigs from this…

Read more at: https://oilprice.com/Energy/Energy-General/US-Gas-Rig-Count-as-Oil-Rig-Count-Remain-Unchanged.html

Why Are Hedge Funds Buying Up Physical Cobalt?

Cautious optimism is creeping back into the cobalt metal market as hedge funds move to physical purchases of the battery metal as prices slump to seven-year lows. With oversupply conditions and slumping electric vehicle demand, the market could soon find balance, given cobalt’s critical role in the energy transition toward a net-zero future.  According to Bloomberg, citing people familiar with the matter, Anchorage Capital Advisors and Squarepoint Capital LLP have quietly purchased physical cobalt.  Squarepoint has been buying cobalt…

Read more at: https://oilprice.com/Metals/Commodities/Why-Are-Hedge-Funds-Buying-Up-Physical-Cobalt.html

Sinopec Appraisal Well in South China Sea Yields High Oil and Gas Flows

China Petroleum and Chemical Corporation, or Sinopec, has said that it struck high oil and gas flows from an exploration well in the South China Sea. Sinopec’s subsidiary Shanghai Offshore Petroleum Company (SHOPC) has tested the Hai 3 well test in the Weixi exploration area in the Beibu Gulf Basin in the South China Sea, and found that oil and gas output was very promising.   SHOPC says the daily flow rate is a record-high for oil and gas production in Beibu Gulf’s Haizhong Depression, part of the Weizhou oilfield, Offshore…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Sinopec-Appraisal-Well-in-South-China-Sea-Yields-High-Oil-and-Gas-Flows.html

EV Maker Polestar Struggles With Hefty Import Tariffs on Chinese-made Cars

EV manufacturer Polestar, one of several struggling names at the bottom of the EV barrel, says that new hefty EU and US import tariffs on its Chinese-made cars are becoming an issue. On a Tuesday call, the company said it would need to “take steps to offset” these new tariffs. The company also announced a Q1 operating loss, according to Reuters.  Polestar said it would need to introduce “mitigating measures” to achieve cashflow breakeven for 2025 and that those measures could include cost reductions across the company’s supply chain or…

Read more at: https://oilprice.com/Energy/Energy-General/EV-Maker-Polestar-Struggles-With-Hefty-Import-Tariffs-on-Chinese-made-Cars.html

Beijing Targets EU Pork and Brandy as Tariffs on Chinese EVs Take Effect

China is proceeding with anti-dumping investigations of EU imports, targeting brandy and pork imports from the bloc, as the tariff spat entered a new phase on Friday with the start of the provisional EU tariffs on imports of China-made electric vehicles. China’s Commerce Ministry said on Friday that it would hold a hearing later this month on its ongoing investigation into EU brandy imports. In another probe, China is investigating anti-dumping allegations for imported pork and its by-products from the European Union.…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Beijing-Targets-EU-Pork-and-Brandy-as-Tariffs-on-Chinese-EVs-Take-Effect.html

What Labour’s Victory Means for UK Oil and Gas

The UK’s Labour Party just scored a massive victory that could have huge implications for the country’s oil and gas sector. This will be the party’s return to power after 14 years as opposition. It will also be a double-down on the energy transition. And it may end the country’s reputation as an energy investment destination. When it comes to the energy transition, the two main parties in the UK don’t really differ much—except in the scale of their commitments to replacing oil, gas, and coal with wind, solar,…

Read more at: https://oilprice.com/Energy/Energy-General/What-Labours-Victory-Means-for-UK-Oil-and-Gas.html

Big Oil to Buy Stakes in UAE’s New LNG Project

International oil and gas majors Shell, BP, and TotalEnergies, as well as Japan’s Mitsui & Co, have agreed to buy 10% each in the new LNG project in the United Arab Emirates, anonymous sources familiar with the plans told Bloomberg on Friday.   The international firms will invest in the Ruwais LNG project of Abu Dhabi’s national oil company ADNOC as Big Oil continues to bet on the growing demand for gas and LNG in the coming years. BP, TotalEnergies, and Mitsui are currently partners in the only existing LNG export…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Big-Oil-to-Buy-Stakes-in-UAEs-New-LNG-Project.html

Bullish Sentiment Has Taken Hold of the Oil Market

Sentiment in oil markets is undeniably bullish, with WTI and Brent on course to post yet another weekly gain.Friday, July 5th, 2024Whilst market activity was relatively slim with US markets closed for Independence Day holidays, the triple combination of lower US crude, gasoline and diesel inventories have instilled hope in the market that summer demand wouldn’t be that bad after all. Amidst increasing optimism for US interest rate cuts in September, crude is set for another weekly gain with ICE Brent ending the week above $87 per barrel. Wildfires…

Read more at: https://oilprice.com/Energy/Energy-General/Bullish-Sentiment-Has-Taken-Hold-of-the-Oil-Market.html

Shell Expects to Book Up to $2 Billion in Writedowns in Q2

Shell expects to take up to $2 billion in impairments for the second quarter, due to the sale of its Singapore refinery and the decision to temporarily halt construction of a biofuels plant in the Netherlands, the UK-based supermajor said on Friday. Shell, which reports second-quarter earnings on August 1, expects non-cash post tax impairments of between $1.5 billion and $2 billion, it said in its regular quarterly update note, which gives an overview of the company’s current expectations for the second quarter. The impairments…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Shell-Expects-to-Book-Up-to-2-Billion-in-Writedowns-in-Q2.html

UK Oil Industry on Edge as Labour Wins Election in a Landslide

The Labour Party won the UK election in a landslide, as Britons overwhelmingly voted on Thursday to end 14 years of Conservative rule. Exit polls and the first official results showed early on Friday that the Labour Party won more than 400 seats in Parliament, while the Tories lost more than 200 seats and slumped to about 120, the worst election showing since World War II.    The resounding Labour victory is a concern for the UK oil and gas industry, as the new government could follow up on Labour’s campaign pledges to further raise…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/UK-Oil-Industry-on-Edge-as-Labour-Wins-Election-in-a-Landslide.html

Australian Coal Miners See Stocks Rally on Mine Explosion

Australian coal miners are seeing their stocks rally following an explosion at a coal mine operated by Anglo American that shut down operations temporarily. According to Morgan Stanley, the stocks have higher to go, too, Bloomberg reported, noting that the mine is one of the biggest metallurgical coal sites in Australia. Anglo reported a fire at the Grosvenor mine in Queensland earlier this week, saying it had shut down the site, suggesting it could remain shut for several months while the company ensured re-entry into the site was safe. The…

Read more at: https://oilprice.com/Latest-Energy-News/World-News/Australian-Coal-Miners-See-Stocks-Rally-on-Mine-Explosion.html

Here’s where the jobs are for June — in one chart

Health care and government were two key areas of job growth, while employment in manufacturing shrank.

Read more at: https://www.cnbc.com/2024/07/05/heres-where-the-jobs-are-for-june-in-one-chart.html

Britain’s Labour pulled off a thumping election victory with just 34% of the national vote

Unlike in other voting systems, there are no second rounds or ranking of first- and second-choice candidates.

Read more at: https://www.cnbc.com/2024/07/05/uk-election-2024-britains-labour-pulled-off-a-thumping-election-victory.html

Disney heiress, wealthy Democratic donors say they won’t finance the party until Joe Biden drops out

President Joe Biden faces a rebellion from wealthy Democratic donors after his debate performance against Donald Trump.

Read more at: https://www.cnbc.com/2024/07/04/democratic-donors-wont-finance-party-until-joe-biden-drops-out.html

S&P 500, Nasdaq post record closes Friday as jobs report raises Fed rate cut hopes: Live updates

The three major indexes are on pace to end the shortened trading week in the green.

Read more at: https://www.cnbc.com/2024/07/04/stock-market-today-live-updates.html

Biden campaigns ahead of pivotal ABC News interview as his reelection bid teeters

President Joe Biden is scheduled to speak with ABC News anchor George Stephanopoulos during a campaign trip to Madison, Wisconsin.

Read more at: https://www.cnbc.com/2024/07/05/biden-trump-election-updates.html

Here’s where money managers are seeking income at mid-year as rates stay high

It’s mid-year and traders are hoping for a rate cut from the Federal Reserve in September. How to prepare the bond portion of your portfolio for what’s next.

Read more at: https://www.cnbc.com/2024/07/05/where-money-managers-are-seeking-income-at-mid-year-as-rates-stay-high.html

Bitcoin tanks as Mt. Gox begins repaying creditors: CNBC Crypto World

CNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, Damien Kieran, Worldcoin builder Tools for Humanity’s new chief privacy officer, discusses how he plans to work with regulators around the world to address privacy concerns tied to Worldcoin’s iris scanning technology.

Read more at: https://www.cnbc.com/video/2024/07/05/bitcoin-tanks-as-mt-gox-begins-repaying-creditors-cnbc-crypto-world.html

GlobalFoundries races to find semiconductor talent as demand for chips soars

GlobalFoundries and other semiconductor companies are looking for workers as demand for chips soars, spurred by CHIPS Act funding and artificial intelligence.

Read more at: https://www.cnbc.com/2024/07/05/globalfoundries-hiring-as-semiconductor-chip-demand-rises.html

Stocks making the biggest moves midday: Macy’s, MicroStrategy, Coinbase, Nvidia and more

These are the stocks posting the largest moves in midday trading.

Read more at: https://www.cnbc.com/2024/07/05/stocks-making-the-biggest-moves-midday-m-inst-nvo-and-more.html

Mt. Gox begins repaying bitcoin to creditors a decade after exchange’s collapse. What it means

Mt. Gox, the Japanese bitcoin exchange that collapsed into bankruptcy a decade ago, said Friday it has begun making repayments to creditors.

Read more at: https://www.cnbc.com/2024/07/05/mt-gox-begins-repaying-bitcoin-to-creditors-a-decade-on-from-collapse.html

Wilmington to Corpus Christi: The 10 best places to buy a beach house based on average home prices, rental revenue and more

Realtor.com and AirDNA ranked the top 10 places in the U.S. based on several factors including median home prices and expected yields.

Read more at: https://www.cnbc.com/2024/07/05/10-best-places-in-america-to-buy-a-beach-house.html

Young, wealthy investors turn to alternatives instead of traditional stock and bond investments

If you’re a young, wealthy investor, traditional stocks and bonds are probably not at the top of your investment wish list, research finds.

Read more at: https://www.cnbc.com/2024/07/05/young-wealthy-investors-are-turning-to-alternative-investments.html

10-year Treasury yield falls after unemployment rate rises unexpectedly

U.S. Treasury yields held steady on Friday as markets reopened after the July holiday and investors awaited the latest nonfarm payroll data.

Read more at: https://www.cnbc.com/2024/07/05/us-treasury-yields-flat-ahead-of-key-jobs-report.html

Phoenix Police Pull-Over Driverless Waymo For ‘Freaking Out’ & Driving Into Oncoming Traffic

Phoenix Police bodycam footage, published online by AZCentral, captures the moment when an officer pulls over a Waymo autonomous Jaguar I-Pace SUV that had recklessly veered into oncoming traffic on a busy Phoenix street.

AZCentral said the incident occurred on June 19. Phoenix police pulled over the driverless taxi with no occupants inside for driving in an oncoming traffic lane near Seventh Avenue and Osborn Road.

Just after 11 am on June 19, a Phoenix police officer initiated a traffic stop on the Waymo, according to police dispatch records. The vehicle drove into oncoming traffic, ran a red light and “FREAKED OUT,” said the dispatch records, which are typed in all capital letters. -AZCentral

Waymo blamed the incident on “inconsistent construction signage” that forced the SUV into an oncoming lane of traffic. It added that the vehicle was “blocked from navigating back into the correct lane” for around 30 seconds.

“In an effort to clear the intersection, the Waymo vehicle proceeded forward a short distance and pulled into the next available parking lot,” Waymo said, noting the traffic incident lasted less than a minute.

Two weeks ago, a Redditor posted an image of the traffic stop, questioning: “Saw a Waymo getting pulled over by cops this morning. How does it work?”

Read more at: https://www.zerohedge.com/technology/phoenix-police-pull-over-driverless-waymo-freaking-out-driving-oncoming-traffic

Was Tesla’s Cybertruck The Best-Selling US EV Pickup In Q2?

Tesla surprised investors last week with better-than-expected deliveries for the second quarter despite a global electric vehicle market downturn. New estimates from Fed Lambert, the editor-in-chief and main writer at Electrek, speculates that after parsing through the delivery report, “Tesla Cybertruck might have become the best-selling electric pickup truck in the US.”

Lambert breaks down the math of his 2Q Cybertruck delivery estimate, given what he said is the company’s “lack of transparency” and that it is “frustrating as it makes it harder to track the health of its vehicle programs.”

Here’s the math:

For Q2, the automaker confirmed deliveries of 21,551 “other models”, which include Model S, Model X, Cybertruck, and Tesla Semi sales.

However, we have a better idea of Tesla’s Cybertruck deliveries in Q2 because of a couple of recalls.

With a few recalls last month, Tesla confirmed that it had produced 11,688 Cybertrucks as of June 6.

A previous recall confirmed that Tesla had produced 3,878 Cybertruck as of mid-April.

This is a difference of about 7,800 Cybertrucks. If you subtract a few for the last few weeks of April and then add a thousand or two for the rest of June, it is safe to assume that Tesla delivered between 8,000 and 9,000 Cybertrucks during the second qu …

Read more at: https://www.zerohedge.com/technology/tesla-cybertruck-might-have-been-crowned-best-selling-us-ev-pickup-report-delivery-date

McDonald’s Sues Homeless Man For Alleged Customer Attack In Los Angeles

Via City News Service,

McDonald’s Corp. has filed a cross-complaint against an unidentified homeless man who allegedly attacked a customer at one of its stores near Los Angeles General Medical Center in 2023, asking that the assailant and other possible defendants compensate the fast-food chain for any damages it may be ordered to pay.

McDonald’s filed the legal action for indemnity and contribution in Los Angeles Superior Court on June 28, identifying the defendants only as “Roes.”

The court papers state that McDonald’s denies any liability or negligence toward the plaintiff, Donald Wilson, but that the company should be indemnified by the defendants for any monetary damages assessed against McDonald’s.

Mr. Wilson filed his underlying case on May 31, alleging negligence and premises liability, asserting tha …

Read more at: https://www.zerohedge.com/political/mcdonalds-sues-homeless-man-alleged-customer-attack-los-angeles

Head Of Chase Bank Warns Customers: Era Of Free Checking Is Likely Over

The ‘problem-solving’ elites in Washington, DC, who advocate interventionist policies and overregulate the economy into oblivion, often cause unintended consequences. The latest example comes from the head of America’s largest retail bank, which has a warning for its 86 million customers: The era of free checking is likely over.

Marianne Lake, head of Chase Bank, a division of JPMorgan Chase, was quoted by The Wall Street Journal as saying the bank is preparing to charge customers for now-free services, including checking accounts and wealth-management tools, if new rules pushed by politicians in Washington are enacted. These rules include capping overdrafts and late fees.

“The changes will be broad, sweeping, and significant,” Lake said, adding, “The people who will be most impacted are the ones who can least afford to be, and access to credit will be harder to get.”

Agencies such as the Consumer Financial Protection Bureau have proposed an $8 cap on late credit card payment fees and a $3 cap on over-drafting fees. There are also talks of placing limitations on debit card fees and the amount banks can charge CashApp and Venmo for accessing and using their customers’ data.

Read more at: https://www.zerohedge.com/markets/head-chase-bank-warns-customers-era-free-checking-likely-over

Reeves: ‘There’s not a huge amount of money’

The new chancellor says she has inherited a depleted economy that will create a “challenge” for Labour.

Read more at: https://www.bbc.com/news/articles/cldyeykzp33o

Rachel Reeves: Who is the UK’s new chancellor?

In her maiden speech in the Commons in 2010, she vowed to fight for “jobs, growth and prosperity”.

Read more at: https://www.bbc.com/news/articles/cw4ywl7w820o

Faisal Islam: Labour must act now to reboot the economy

The cautious approach Labour took in the election campaign of not offering a lot cannot last into government, says the BBC’s economics editor.

Read more at: https://www.bbc.com/news/articles/cy68p4wnj9zo

Mukul Agrawal buys 6.5% stake in this multibagger smallcap stock during first quarter

ASM Tech’s ownership is primarily held by promoters (47.36%), with the remaining 42.64% held by the public. Notably, neither mutual funds nor foreign portfolio investors hold significant stakes in the company.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/mukul-agrawal-buys-6-5-stake-in-this-multibagger-smallcap-stock-during-first-quarter/articleshow/111520191.cms

Dolly Khanna buys 1.03% stake in multibagger smallcap stock with 222% YTD growth

Khanna purchased 1.76 lakh shares of the company during the first quarter of the year. The company’s ownership is primarily held by promoters, who control 72% of the shares. The remaining 28% of the company’s shares are owned by public shareholders.

Read more at: https://economictimes.indiatimes.com/markets/stocks/news/dolly-khanna-buys-1-03-stake-in-multibagger-smallcap-stock-with-222-ytd-growth/articleshow/111519461.cms

Adani Wilmar Q1 Update: Volumes grow 13% YoY on sustained market-specific strategies

Leveraging its strong product portfolio, the company is actively expanding its general trade presence through robust sales and distribution strategies. Additionally, it has experienced significant growth in alternate channels such as e-commerce, quick commerce, and modern trade, achieving a 19% year-on-year volume increase in the first quarter.

Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/adani-wilmar-q1-update-volumes-grow-13-yoy-on-sustained-market-specific-strategies/articleshow/111518076.cms

Natural-gas prices dropped 11% this week. Hurricane Beryl may fuel further losses.

Natural-gas futures posted a nearly 11% weekly drop on Friday, pressured by an apparent slowdown in demand that came ahead of the Fourth of July holiday — and prices could take a further hit with Hurricane Beryl forecast to hit parts of Texas, potentially slamming demand for the fuel.

Read more at: https://www.marketwatch.com/story/natural-gas-prices-dropped-11-this-week-hurricane-beryl-may-fuel-further-losses-e3219b9c?mod=mw_rss_topstories

2-year Treasury yield ends at lowest since March on signs of deteriorating labor market

U.S. government debt rallied on Friday, sending the policy-sensitive 2-year yield to a more than three-month low, after government data showed that fewer jobs had been created in May and April than initially thought.

Read more at: https://www.marketwatch.com/story/treasury-yields-hold-steady-ahead-of-june-jobs-data-8f03789c?mod=mw_rss_topstories

Most people earning $100K or more are making this huge 401(k) mistake

For high earners, saving up to your company match isn’t going to be good enough to replace the income you’ll need later on.

Read more at: https://www.marketwatch.com/story/most-people-earning-100k-or-more-are-making-this-huge-401-k-mistake-0af98ad7?mod=mw_rss_topstories

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