Money news

Here are some recent money news updates:

Stock Market:

• The Dow Jones Industrial Average closed above 30,000 for the first time on December 27, 2020, marking a significant milestone in the stock market's recovery from the COVID-19 pandemic.
• The S&P 500 index also reached a record high, closing above 3,700 for the first time on January 8, 2021.

Economy:

• The US economy grew at an annual rate of 4.1% in the third quarter of 2020, according to the Bureau of Economic Analysis (BEA). This is the fastest pace of growth since the fourth quarter of 2017.
• The unemployment rate fell to 6.3% in January 2021, down from 6.7% in December 2020, according to the Bureau of Labor Statistics (BLS).

Personal Finance:

• The average credit card debt per household in the US is now over $6,000, according to a report by NerdWallet.
• The Federal Reserve has kept interest rates low, with the federal funds target rate remaining at 0.00%-0.25%. This has made borrowing money cheaper and has helped to stimulate economic growth.

Cryptocurrency:

• Bitcoin, the most widely used cryptocurrency, has seen significant price fluctuations in recent months. It reached an all-time high of over $64,000 in April 2021, but has since fallen to around $30,000.
• Other cryptocurrencies, such as Ethereum and Litecoin, have also seen significant price movements in recent months.

Taxes:

• The IRS has extended the deadline for filing individual tax returns to May 17, 2021, due to the COVID-19 pandemic.
• The Tax Cuts and Jobs Act (TCJA), which was passed in 2017, has had a significant impact on the US tax system. The law lowered corporate tax rates and limited certain deductions and credits.

Retirement:

• The average 401(k) balance in the US is now over $100,000, according to a report by Fidelity Investments.
• The Social Security Administration has announced that the full retirement age will increase to 67 for people born in 1960 or later.

Real Estate:

• The median home price in the US has reached a record high, according to data from the National Association of Realtors (NAR).
• The rental market has also seen significant changes, with the median rent price increasing by over 10% in the past year, according to data from Zillow.

These are just a few of the recent money news updates. If you have any specific questions or topics you'd like to discuss, feel free to ask!