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<ul class="summary-list"><li>A lot of Americans are saving way more than they need to.</li><li>That's largely due to anxiety about higher costs of living, especially in retirement, experts told BI.</li></ul>Being thrifty is a full-time job, one self-professed frugal spender told Business Insider. A 32-year-old based in Michigan, she's nailed down the science of cost-cutting, whittling her necessary expenditures to just $2,000 a month—around a third of her take-home pay.Despite making six figures, she pours much of her free time into frugal pursuits, like shopping secondhand and spending 30 hours a week making virtually all her food from scratch, including bread, pasta, and canned goods.At this point, it's more of a way of life, she said, requesting that she remain anonymous due to the public nature of her work. She said she's not planning on giving up her frugal habits anytime soon, despite the added inconvenience."I've definitely felt burned out by it at times," she said. "I think if either my fiancé or I were to lose our jobs, I think it would be much more stressful."Her anxiety about being financially insecure — despite being relatively well off — is becoming more common.While Americans are notorious for <a target="_blank" class="" href="https://www.businessinsider.com/gen-x-baby-boomers-savings-cant-afford-retirement-2024-4">undersaving</a> and overspending, there's a small but growing <a target="_blank" href="https://www.businessinsider.com/retirement-saving-henrys-401k-paycheck-to-paycheck-high-earners-millennials-2023-11">cohort of oversavers</a>—a group that socks away a lot more than the recommended 15%-20% of their gross income a year, despite having solid finances overall.That's largely driven by a more acute awareness of a higher cost of living, financial experts told BI, with Americans still scarred by the sharp rise in prices several years ago when inflation was raging around 9%.There are signs that the ranks of the oversavers in America are growing. A 2024 Bank of America study on <a target="_blank" href="https://ustrustaem.fs.ml.com/content/dam/ust/articles/pdf/2024BoA-PB_Study_of_Wealthy_Americans.pdf">wealthy Americans</a> found that 55% of people ages 21-43 increased their cash holdings over the last two years, despite having at least $3 million in investable assets. On average, the group had around 18% of their portfolios allocated in cash, much more than the 2%-10% <a target="_blank" class="" href="https://www.usbank.com/investing/financial-perspectives/investing-insights/percentage-of-cash-in-my-portfolio.html">recommended</a> by financial professionals. <a target="_blank" href="https://subredditstats.com/r/fire">Membership</a> on the subreddit r/<a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/financial-independence-retire-early">FIRE</a>—a forum used by high-earning, high-saving individuals looking to amass enough wealth to retire early — has seen a 265% rise in the past three years, according to the analytics site Subreddit Stats.The subreddit r/<a target="_blank" class="" href="https://subredditstats.com/r/henryfinance">HENRYFinance</a>—also populated by <a target="_blank" href="https://www.notion.so/America-s-cost-of-living-crisis-is-creating-a-population-of-over-savers-112f0f4b6661800e9c0ecd6024798ce2?pvs=21">high-earners</a> who swap wealth-building tips—has seen an even bigger explosion in that timeframe, with membership up over 9,000%.The wealthy are increasingly trying to cut costs. The discount chain <a target="_blank" class="" href="https://www.businessinsider.com/inflation-is-so-bad-wealthy-shopping-at-dollar-stores-2023-9">Dollar Tree</a> saw 3.4 million new customers from households <a target="_blank" class="" href="https://www.businessinsider.com/dollar-tree-will-sell-7-dollar-items-straying-from-model-2024-3">earning over $125,000</a> last year, the firm said in its first-quarter earnings call. High-income Americans are also more likely than other consumers to use coupons and shop secondhand. According to one study, 89% of households earning between $175,000 and $199,999 said they <a target="_blank" href="https://www.prnewswire.com/news-releases/affluent-americans-lead-charge-in-online-coupon-surge-as-frustration-with-the-economy-lingers-new-study-finds-302173624.html#:~:text=In%20fact%2C%20the%20highest%20segment,between%20the%20different%20age%20groups.">redeem coupon codes</a>, more than any other income group, and 9 out of 10 Americans making over $175,000 have <a target="_blank" class="" href="https://www.prnewswire.com/news-releases/shoppers-at-all-income-levels-seek-resale-first-as-economy-falters-301653101.html">purchased a resale item</a>, 14 percentage points higher than the average, another poll found.Kitty Ritchie, a financial advisor at Drucker Wealth Management, says she's seeing more clients who appear terrified to spend their savings, even as they age into retirement with ample cash set aside for emergencies."I think there are more people worried about spending the money. It's the ones that have accumulated it, they don't want to lose [it]," she said.<h2 id="7ab78d22-7b87-4695-bea0-c1da59d28026">Cost-of-living stress</h2>The pace of inflation has cooled significantly, but many Americans—even wealthy ones—are still dismayed that many costs are still higher overall."Even though people with six-figure incomes have a sizable amount of money coming in on paper, cost of living pressures are cutting into that pretty quickly," Ted Rossman, a senior industry analyst at Bankrate, said.High-income Americans may also be sensing less job security in the <a target="_blank" href="https://www.businessinsider.com/hiring-slump-professional-white-collar-jobs-recession-high-salary-2024-4">white-collar sector</a>, he noted. Companies have <a target="_blank" class="" href="https://www.challengergray.com/blog/job-cuts-fall-in-october-2024-but-ytd-up-4-from-last-year/">announced 664,839 job cuts</a> through the first 10 months of the year—the highest year-to-date total recorded since 2020, according to Challenger, Gray &amp; Christmas.Those uncertainties amplify <a target="_blank" class="" href="https://www.businessinsider.com/retirement-social-security-gen-z-millennials-uncertainty-fears-pensions-2024-4">fears of not retiring on time</a>, or at all, the 32-year-old saver from Michigan told BI. She pointed to her father, who depleted his retirement savings early after having to pay for cancer treatment out of pocket."I think no matter how stable it seems, it feels like there's a very real risk that you could have to work for the rest of your life, and I certainly don't want to do that," she said.Financial anxiety is higher than it was several years ago. According to <a target="_blank" class="" href="https://investorrelations.discover.com/newsroom/press-releases/press-release-details/2024/Discover-Survey-Anxiety-and-Avoidance-are-Driving-the-Financial-Lives-of-Many-Americans/default.aspx">a survey from Discover</a>, 80% of Americans said they felt anxious about their finances to some degree, up from 71% in 2021.Experts, though, say oversaving could hurt Americans trying to build wealth in the long run. Extreme savers could be <a target="_blank" class="" href="https://www.businessinsider.com/millennials-big-money-mistake-holding-cash-not-buying-stocks-investing-2024-10">losing out on big investment gains</a> over the course of years by piling up cash. They also risk lowering their quality of life, especially if saving means postponing necessary health or home expenses, Ritchie noted."It's the 78-year-old who's saved, worked hard, and done well, but he's not going to spend the money now. And that's the conversation of, 'you can't take it with you'," she said.

Americans' cost-of-living anxiety is creating a population of oversavers

<keyword id="23350090" type="General" weightage="100" keywordseo="Healthcare-in-India" source="keywords">Healthcare in India</keyword> is facing a growing crisis as costs continue to rise sharply, increasing by 14% annually, according to the ACKO India <keyword id="19894985" type="General" weightage="20" keywordseo="health-insurance" source="keywords">Health Insurance</keyword> Index 2024. The report highlights that this double-digit inflation in <keyword id="19909937" type="General" weightage="20" keywordseo="healthcare" source="keywords">healthcare</keyword> is putting immense pressure on individuals and families across the country. "<keyword id="23350091" type="General" weightage="20" keywordseo="healthcare-inflation" source="keywords">Healthcare inflation</keyword> was reported at 14 per cent in India," the report stated, illustrating the persistent increase in healthcare expenses. <h2>Out-of-pocket expenditures</h2>One of the most alarming findings in the report is that 62% of healthcare expenses are paid out of pocket by patients and their families. This has created a significant financial burden, often forcing individuals to turn to loans and borrowings to cover medical costs. The report noted that 23% of hospital charges are financed through borrowings, emphasizing the toll this takes on household financial health. In many cases, these <keyword id="20228812" type="General" weightage="20" keywordseo="out-of-pocket-expenses" source="keywords">out-of-pocket expenses</keyword> are unpredictable and steep, leading to mounting debts for families. As health crises strike unexpectedly, the lack of widespread health insurance coverage is leaving families vulnerable, highlighting the urgent need for better healthcare protection. <h2><keyword id="20699023" type="General" weightage="20" keywordseo="kidney-disease" source="keywords">Kidney disease</keyword> capital: Delhi</h2>Kidney disease has emerged as a growing concern in India, with Delhi being identified as the kidney disease capital of the country. The report states that Delhi NCR had the highest share of health insurance claims related to kidney health, followed closely by Kochi. "Delhi is the capital for kidney disease, followed by Kochi. Delhi NCR had the highest share of claims related to kidney health," the report confirmed, indicating a rising trend in kidney-related issues. Beyond the staggering number of claims, the financial impact of treating kidney diseases has also been brought to light. The average age of patients claiming for kidney and renal problems is 47 years, showing that kidney issues are affecting people at a relatively young age. One of the highest bills for kidney-related treatment in the past year amounted to Rs 24,73,894, showing just how costly these health conditions can be. <h2>Rising <keyword id="19898369" type="General" weightage="20" keywordseo="heart-disease" source="keywords">heart disease</keyword> in major cities</h2>The report also flagged the increasing number of heart disease cases in India's metropolitan cities. Kolkata and Mumbai recorded the highest number of claims related to heart conditions, with hospitalizations for cardiovascular issues like heart attacks rising sharply, particularly among people aged 31 to 50 years. "Kolkata and Mumbai topped the list of metros when it came to disorders of the circulatory system like heart attacks," the report noted, painting a worrying picture of the growing burden of lifestyle diseases in urban India. Poor diets, stress, and lack of exercise are all contributing factors, creating a serious public health challenge for the country. In addition to kidney and heart diseases, the report also highlighted concerns surrounding cancer. The ACKO Index predicts that <keyword id="20418550" type="General" weightage="20" keywordseo="cancer-cases" source="keywords">cancer cases</keyword> are expected to rise by 13% between 2020 and 2025, which, coupled with the already high cost of cancer treatment, adds further strain to the healthcare system. <h2>Expanding health coverage</h2>In response to the growing healthcare challenges, the Indian government has introduced measures aimed at reducing the burden on citizens. On September 11, 2024, the Union Cabinet approved health coverage for all senior citizens aged 70 years and above, under the <keyword id="19913233" type="General" weightage="20" keywordseo="Ayushman-Bharat" source="keywords">Ayushman Bharat</keyword> Pradhan Mantri Jan Arogya Yojana (AB PM-JAY). This scheme will provide health insurance regardless of income level, offering Rs 5 lakh per family per year for secondary and tertiary care hospitalisation. This move is a step forward in protecting senior citizens from catastrophic healthcare expenses, but the need for broader reforms remains critical as the out-of-pocket burden for millions of younger citizens continues to mount. (with inputs from agencies)

Healthcare in India faces massive strain as costs rise by 14% annually; most expenses paid out-of-pocket

<ul class="summary-list"><li>Interest in moving to Canada has spiked among Americans after the election.</li><li>Beyond the physical move, there are financial considerations that potential movers should know of.</li></ul>The result of the 2024 elections left about half of the US displeased. As Donald Trump prepared to return to the White House, many Americans began considering a move up north, according to <a target="_blank" href="https://trends.google.com/trends/explore?date=today%201-m&amp;geo=US&amp;q=moving%20to%20canada&amp;hl=en-US">Google search traffic</a> at least.Interest in <a target="_blank" class="" href="https://www.businessinsider.com/we-moved-to-canada-not-perfect-but-prefer-over-us-2024-11">moving to Canada</a> tends to spike after big political events such as the <a target="_blank" href="https://trends.google.com/trends/explore?date=2016-11-01%202016-11-30&amp;geo=US&amp;q=moving%20to%20canada&amp;hl=en-US">2016 election</a> and the <a target="_blank" href="https://trends.google.com/trends/explore?date=2022-06-01%202022-06-30&amp;geo=US&amp;q=moving%20to%20canada&amp;hl=en-US">overturning of the Roe v. Wade</a> Supreme Court ruling.This phenomenon doesn't just live on the internet, either — some US residents are seriously considering the move."Even when Trump was elected last time, a lot of people felt that they weren't as comfortable staying in the States, and so we actually did see an influx of people moving to Canada," said Tiffany Woodfield, a senior financial advisor at SWAN Wealth Management of Raymond James.Moving, especially across borders, is a big decision and shouldn't be taken lightly. While the physical act of moving is complicated enough, Woodfield points out that there are a lot of financial considerations to be aware of."I think sometimes it can be a knee-jerk reaction," Woodfield said of <a target="_blank" class="" href="https://www.businessinsider.com/we-moved-to-canada-not-perfect-but-prefer-over-us-2024-11">moving to Canada</a>. "If they don't plan ahead of time, they can fall into traps that end up costing them money."<h2 id="c4feab40-7084-4563-951b-72a890ad2b58">You need to file US and Canadian taxes</h2>US citizens residing in Canada might not realize that even on the other side of the border, they're still not free from their tax obligations to Uncle Sam.If you are a US citizen, you still need to file federal US taxes and report your worldwide income to the IRS no matter where you live. In Canada, taxes are based on your residency status, so if you spend more than 183 days of the year living in Canada, you owe the Canadian government taxes.To prevent ex-pats from getting taxed twice on their income, the US and Canada have a tax treaty that provides a foreign income tax credit for any income tax paid to the other country, Woodfield explained. That means you can offset your US tax liability with taxes already paid to Canada, but you still need to file two separate tax returns — one to Canada and one to the US — to receive a tax credit.Additionally, the promise of free healthcare in Canada might sound enticing, but that does come at the cost of higher taxes, so be aware that your Canadian tax bill will probably be higher than what you paid in the US. You also don't have the option to file joint income tax returns with your spouse in Canada, Woodfield warned.<h2 id="7d31b42f-84db-43c3-b2f8-4f871c9958bf">Some Canadian investments have complicated tax implications</h2>"As a US person living in Canada, you don't want to invest in Canadian mutual funds or Canadian ETFs," Woodfield said. That's because these investments are considered Passive Foreign Income Corporations (PFIC) by the US government.PFICs are subject to unfavorable tax treatment from the IRS. The associated tax forms are lengthy and complicated, and you may end up paying high tax rates. If you're still a US citizen, investing in a Canadian mutual fund or ETF simply isn't worth the hassle.<h2 id="0333acc5-88aa-436b-bf74-7cb1b79b71b0">Bringing your retirement plan over the border can be tricky.</h2>401(k)s are a popular way to save for retirement here in the US, but Canadian employers offer a different type of retirement plan: the Registered Retirement Savings Plan (RRSP).Once you move to Canada, you won't be able to actively manage the holdings in your 401(k), according to Woodfield. One workaround is to roll your 401(k) to an IRA and have it managed in Canada. US citizens should also be aware that, in most cases, they won't be able to contribute to their IRA once they move to Canada.Another option is to transfer your US retirement account into an RRSP. However, if you choose this step, make sure you're committed to moving to Canada permanently, as you cannot move RRSPs to IRAs, Woodfield said.You may not be able to bring your brokerage accounts over the border, either. Some people don't realize this until they update their address with their US brokerage account after moving and receive a letter informing them that they have to close out their account.<h2 id="2d468c1f-efc0-45a8-9a7c-53c03c550ff1">You'll need a new financial advisor…and a lot of time</h2>US financial advisors are prohibited by law from providing Canadian residents with financial advice, as they aren't licensed in Canada. If you want expert advice, you need to work with a dual Canada / US licensed advisor.The earlier you start preparing for your cross-border move, the better — ideally, one to two tax years before moving, Woodfield said. That way, you can plan certain taxable events ahead of time and realize the greatest amount of savings, such as liquidating mutual funds. It's also easier to sell your home while you're still in the US, Woodfield said.If you've already begun the moving process or you're already in Canada, don't panic. Woodfield has worked with plenty of people after they've already moved, but the more time you give yourself, the better.Moving across the border is no simple feat, so make sure you're confident about your choice."I've had clients that have moved, and then after the fact, they think, 'Oh, I shouldn't have done this,'" Woodfield said."It's very hard to go back, so people need to be aware of that."

Americans moving to Canada should be aware of these 4 tax and investment implications

<ul class="summary-list"><li>ETF inflows have taken off in the last week or so, as have stocks.</li><li>Strategists, including BlackRock's Gargi Chaudhuri, are optimistic about the economy.</li></ul>Investors have <a target="_blank" href="https://www.businessinsider.com/how-to-invest-trump-win-election-stock-market-outlook-strategy-2024-11">poured money into the market</a> at an unprecedented pace since <a target="_blank" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">Donald Trump's victory</a>, though a veteran investment chief believes there's much more than politics at play.Inflows into exchange-traded funds (ETFs) have shattered the record set in 2021 with more than a month and a half to spare, according to asset management titan BlackRock. The world's largest ETF issuer recently noted that $77 billion went into ETFs in the week after the election, which had never happened before. That surge coincided with the S&amp;P 500's best week of 2024.Markets were especially euphoric <a target="_blank" href="https://www.businessinsider.com/stock-market-outlook-trump-president-economy-tariffs-trade-war-kelly-2024-11">immediately after election day</a>. An astounding $22.3 billion went into US ETFs last Wednesday, and BlackRock's uber-popular iShares Russell 2000 ETF (<a target="_blank" href="https://markets.businessinsider.com/etfs/ishares-russell-2000-etf-us4642876555">IWM</a>) had its most active day of trading and inflows since 2007 as small caps soared by 5.8%.However, BlackRock's Gargi Chaudhuri doesn't think President-elect Trump deserves all the credit for this astounding market rally. The chief investment and portfolio strategist, Americas noted in a recent interview that US stocks <a target="_blank" href="https://www.businessinsider.com/stock-market-rally-outlook-trump-win-investing-strategy-2025-page-2024-11">had several strong catalysts</a> before Trump's win."Obviously, there have been some pretty sharp movements over the course of the last week," Chaudhuri told Business Insider. "But even as we look back to the quarter before that or since the beginning of this year, I think there have been some very solid fundamentals that have underpinned this movement."Robust growth for the economy and corporate earnings are some of the most salient market drivers, as are lower interest rates and receding inflation, Chaudhuri said. End-of-year rallies are also very common, <a target="_blank" href="https://www.businessinsider.com/stock-market-outlook-history-yearend-rally-election-trump-harris-truist-2024-11">especially in strong years for the market</a>, as Truist recently remarked.Another convincing explanation for this recent market momentum is that investors had reduced risk as uncertainty mounted ahead of the election before quickly changing course when they got clarity on the path forward sooner and more decisively than anticipated."Investors bringing down their portfolio risk going into elections was perhaps one of the reasons that we have seen this pretty strong re-risking in markets, especially after we got the election results," Chaudhuri said.<h2 id="e1cf1135-8543-44c9-9cf9-a679564fb91f">Why softer economic readings are a red herring</h2>As the new year approaches, Chaudhuri is rather confident about the US economy, even though a few recent developments seem to have given the glass-half-empty camp some ammunition.GDP growth and job additions have slipped lately, though neither is a major cause for concern for Chaudhuri. The economy <a target="_blank" href="https://www.businessinsider.com/gdp-gross-domestic-product-third-quarter-economy-2024-10">didn't expand as much as expected in the third quarter</a>, but GDP still rose <a target="_blank" href="https://tradingeconomics.com/united-states/gdp-growth">at a healthy clip of 2.8%</a>. And a <a target="_blank" href="https://www.businessinsider.com/october-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-11">weak October jobs figure</a> appears to be largely due to the severe weather events that disrupted thousands of workers.Besides, more modest growth is a sign that the economy isn't overheating, which is welcome news to the Federal Reserve in its quest to ease financial conditions without reviving inflation. Such moderations aren't giving Chaudhuri pause about the trajectory of the US economy."It would be very normal for us to continue to see a further normalization in the labor market, given how strong the economy has already been, how high rates are," Chaudhuri said.The investment chief added: "We haven't really seen that job destruction taking place quite yet. You're still seeing wages rising; you're not seeing layoffs pick up in a meaningful manner."Corporate earnings growth is arguably the most compelling reason to stick with US stocks following what's been another outstanding performance this year. Profits <a target="_blank" href="https://www.businessinsider.com/stock-market-rally-outlook-trump-win-investing-strategy-2025-page-2024-11">jumped about 7% in the third quarter</a>, which is well above the <a target="_blank" href="https://www.businessinsider.com/how-to-invest-q3-earnings-season-recession-risk-investing-strategy-2024-10">mid-single-digit figure that analysts were banking on</a>."One of the things that the equity market has done over and over again is continue to surprise us in terms of earnings growth," Chaudhuri said. "I think companies have continued to find very innovative ways to manage their expenses. They've found a way, especially given the spend on AI, the type of CapEx that's going into finding ways to make companies have more productivity."<h2 id="1bb5d4ad-c973-49dc-9ddc-4fb0e9f732a3">Where to invest in a rosy 2025</h2>Two sectors with abnormally strong earnings prospects are financials and industrials, Chaudhuri said. These economically sensitive groups enjoyed some of the larger post-election pops as <a target="_blank" href="https://www.businessinsider.com/how-to-invest-trump-win-election-stock-market-outlook-strategy-2024-11">Wall Street puts its chips on sectors that should benefit from a hot economy</a>.And although <a target="_blank" href="https://www.businessinsider.com/cheap-stocks-to-buy-strong-growth-market-outlook-garp-bmo-2024-10">smaller stocks have been on a heater</a>, Chaudhuri believes that large, undervalued companies are the better place to be, given their superior earnings setup."For a longer period of time, large cap is where we think the earnings growth is going to continue to be higher and better," Chaudhuri said.While earnings may not be under the microscope like they were when interest rates were at their peak, they're still top of mind for Chaudhuri. Larger stocks often have better earnings than their smaller peers, and the investment chief thinks that the cream will eventually rise to the top."This catch-up trade that's happening in small caps right now has a little bit of legs," Chaudhuri said. "I think that can continue, maybe 'til the end of this month or even the end of next month."Chaudhuri continued: "But for us to believe in sustained rallies in small caps, we would need to see earnings growth, and over 50% of the small-cap index still is not very profitable."

BlackRock's Gargi Chaudhuri shares how to invest as ETF inflows soar to records ahead of a promising 2025

<ul class="summary-list"><li>The Dow closed above 44,000 and the S&amp;P 500 closed above 6,000 for the first time on Monday.</li><li>Bitcoin soared 8% to hit a record high as crypto's post-election rally continued. </li></ul>US stocks were higher on Monday, with the <a target="_blank" class="" href="https://markets.businessinsider.com/index/dow_jones">Dow Jones Industrial Average</a> jumping about 300 points while the <a target="_blank" class="" href="https://markets.businessinsider.com/index/nasdaq_100">Nasdaq 100</a> and <a target="_blank" class="" href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> edged slightly higher.The Dow closed above the 44,000 level for the first time ever, while the S&amp;P 500 hit a record intra-day high and closed above the 6,000 level for the first time.The Trump trade was largely extended on Monday, with shares of Tesla, bitcoin, the US dollar, and shares of US banks all surging.Bitcoin jumped 8% to hit a record high of $87,478. Crypto investors continued to celebrate Trump's win, which the <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-crypto-industry-donald-trump-election-reserve-regulation-sec-2024-11">market expects to be a positive</a> catalyst amid the President-Elect's promises of policies aimed at boosting the sector. Meanwhile, tech shares mostly slumped, with shares of <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/nvda-stock">Nvidia</a>, <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a>, and <a target="_blank" class="" href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>, the world's three largest companies, all down about 1%.Investors' top concern this week is inflation data, with consumer price index data for the month of October set to be released Wednesday morning.Economists expect a 2.5% year-over-year jump in CPI, compared to a rise of 2.4% in the prior month."While economic fundamentals suggest inflation should continue to moderate, policy changes pose an upside risk to the outlook. Nevertheless, we think the October CPI report will be good enough for the Fed to follow through with a 25bp cut in December," Bank of America said on Monday.In addition to inflation data, corporate earnings remain on investors' radars, though they are starting to wind down.So far, 91% of S&amp;P 500 companies have reported third-quarter results. Of those companies, 77% beat profit estimates by a median of 6%, while 59% beat revenue estimates by a median of 6%, according to data from Fundstrat.Nvidia is the last big company that will report earnings. The chip giant is scheduled to report its third-quarter results after the market close on November 20.Here's where US indexes stood at the 4:00 p.m. closing bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 6,001.35, up 0.10%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 44,293.13, up 0.69% (+304.14 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 19,298.76, up 0.06% </li></ul>Here's what else happened today:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-short-sellers-losss-donald-trump-election-tsla-elon-musk-2024-11">Tesla short-sellers have lost $8 billion since Donald Trump's election win, according to S3 Partners.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-policies-tax-cuts-inflation-government-debt-deficit-jeremy-siegel-2024-11">President-elect Trump could dial back some of his proposed policies in a bid to not upset the stock market, Jeremy Siegel said.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-high-inflation-risk-tariffs-deportations-taxes-2024-11">Economists say Trump could give Americans the very thing they voted against.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-reaches-80000-for-first-time-trump-election-crypto-2024-11">Bitcoin surged past the $80,000 price level over the weekend and hit a high of $82,500.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/retirement-saving-inflation-cost-of-living-crisis-investing-401k-pensions-2024-11">Americans' cost-of-living anxiety is creating a population of oversavers.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil declined 3.13% to $68.18 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was lower by 2.59% to $71.96 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> dropped 2.41% to $2,629.90 an ounce.</li><li>The 10-year Treasury yield was unchanged as the bond market was closed in observance of Veterans Day.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> surged 8.37% to $87,160.69.</li></ul>

Stock market today: Dow closes above 44,000, tech shares stumble as traders eye inflation data

<ul class="summary-list"><li>US stocks gained as investors adjust their portfolios to a second Trump presidency.</li><li>Investors will turn their attention to inflation this week, with October CPI set to be released on Wednesday.</li></ul>US stocks gained on Monday, extending the postelection rally as investors adjust their portfolios to prepare for a second Donald Trump presidency.Everything from bitcoin to Tesla to the US dollar rallied Monday morning. The world's largest cryptocurrency hit an all-time high above $82,000 as investors continued to celebrate Trump's win, which the <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-price-crypto-industry-donald-trump-election-reserve-regulation-sec-2024-11">market expects to be a positive</a> catalyst for crypto. Tesla stock rose over 8% to about $348.50. The stock reclaimed a $1 trillion market cap at the end of last week for the first time since April 2022. Tech analyst Dan Ives said in a note Monday morning that the Trump win was a "game changer," and raised his price target to $400 a share. Investors' top concern this week is inflation data, with consumer price index data for the month of October set to be released Wednesday morning.Economists expect a 2.5% year-over-year jump in CPI, compared to a rise of 2.4% in the prior month.Investors will get more inflation data on Thursday when the producer price index is released. Economists expect it to rise 0.2% month over month compared to a flat reading in September.In addition to inflation data, corporate earnings remain on investors' radars, though they are starting to wind down.So far, 91% of S&amp;P 500 companies have reported third-quarter results. Of those companies, 77% beat profit estimates by a median of 6%, while 59% beat revenue estimates by a median of 6%, according to data from Fundstrat.Nvidia is the last big company that will report earnings The chip giant is scheduled to report its third-quarter results after the market close on November 20.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 6,015.56, up 0.33%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 44,384.62, up 0.90% (+395.63 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 19,339.95, up 0.28%</li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-election-win-high-inflation-risk-tariffs-deportations-taxes-2024-11">Economists say Trump could give Americans the very thing they voted against.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/bitcoin-reaches-80000-for-first-time-trump-election-crypto-2024-11">Bitcoin surged past the $80,000 price level over the weekend and hit a high of $82,500.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/retirement-saving-inflation-cost-of-living-crisis-investing-401k-pensions-2024-11">Americans' cost-of-living anxiety is creating a population of oversavers.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil declined 2.76% to $68.44 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was lower by 2.52% to $72.01 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> dropped 2.07% to $2,639.00 an ounce.</li><li>The 10-year Treasury yield was flat at 4.310%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> gained 1.80% to $81,875.</li></ul>

Stock market today: Indexes jump as post-election rally continues ahead of inflation data

New Delhi: Ethanol plants manufacturer Regreen-Excel <keyword id="23123526" type="General" weightage="20" keywordseo="epc-india-ltd" source="keywords">EPC India Ltd</keyword> has filed preliminary papers with capital markets regulator <keyword id="35210" type="General" weightage="100" keywordseo="SEBI" source="Orion">Sebi</keyword> to raise funds through an initial public offering (IPO). The company's initial share-sale comprises a fresh issue of equity shares worth Rs 350 crore and an offer-for-sale (<keyword id="19951016" type="General" weightage="20" keywordseo="ofs" source="keywords">OFS</keyword>) of 1.14 crore equity shares by promoters, according to the draft red herring prospectus (DRHP). The company proposes to utilize the net proceeds from fresh issue for payment of debt, funding margin money requirements for the purpose of availing bank guarantees; and for general corporate purposes. Regreen-Excel EPCR is a technology-driven EPC company, engaged in designing, manufacturing and supplying ethanol plants. Over the years, the company has built end-to-end capabilities in setting up ethanol plants, across feedstocks such as molasses/ sugarcane syrup, grains or a combination thereof, which it to provide concept to commissioning solutions to their customers. Since the company's inception to July 15, 2024, it has executed 113 projects across various feedstocks, which consist of 53 molasses-based projects, 57 grains-based projects and three <keyword id="23123527" type="General" weightage="20" keywordseo="multi-feedstock" source="keywords">Multi Feedstock</keyword> projects. As of July 15, 2024, the company had an order book of 64 ongoing projects worth Rs 3,452 crore, which aggregate to over 10,000 kilo litres per day (<keyword id="23123525" type="General" weightage="20" keywordseo="klpd" source="keywords">KLPD</keyword>) of ethanol capacity. IIFL Securities and ICICI Securities are the book-running lead managers to the issue.

Regreen-Excel files IPO papers with Sebi, aims to raise Rs 350 crore

<ul class="summary-list"><li>Stocks stumbled heading into the election, but a rebound should be in order.</li><li>The S&amp;P 500 has an outstanding track record after major rallies in the first 10 months.</li></ul>More than seven decades' worth of data suggest that US stocks will end 2024 on a high note.Investors have been locked in on what's certain to be <a target="_blank" href="https://www.businessinsider.com/what-to-watch-for-election-day-harris-trump-congress-2024-11">a consequential election</a>, though the outcome is unlikely to keep equities from charging higher — if history is any indication.The S&amp;P 500 rose about 20% through October, which was its best performance in an election year since at least 1952, according to a new report from Truist. That gain was fueled by resilient economic growth, lower inflation, and interest rates that fell to less burdensome levels.<div type="image" title="Truist election year returns" height="990" width="1640" msid="115015356" hostid="261" sizebytes="31762"></div>Stocks have had a rather smooth ride for much of the year, except for a pair of short pullbacks. However, volatility has, predictably, risen substantially in the weeks leading up to the election.But even after an outstanding run and a recent bout of choppy trading, past precedent implies that the market's path of least resistance is higher.<h2 id="ca0b86ce-c524-40f4-920b-3e5d5659c070">Why another year-end rally is ahead</h2>November and December have historically been kind to stocks, as they're both among the five best months in markets, <a target="_blank" href="https://yardeni.com/charts/sp-500-historical-monthly-annual-returns/">based on average returns</a>. Equities rally across those two final months 77% of the time, Truist's research shows, and election years aren't much different."The final two months of the year tend to be positive, whether that's an election year or not," wrote Keith Lerner, the chief market strategist at Truist, in a November 4 note.Even more encouraging for investors is what usually happens after massive market surges.When the S&amp;P 500 rises at least 15% through October, as it did this year, the index has built on that gain in the next two months in 19 of the 20 previous such instances — or 95% of the time — since 1950, Truist found. The typical gain in those scenarios was close to 5%.<div type="image" title="Truist year-end rally returns" height="998" width="1310" msid="115015348" hostid="261" sizebytes="22514"></div>Contrary to what bears might say, record highs usually continue to bequeath more record highs, according to Truist. That flies in the face of <a target="_blank" href="https://www.businessinsider.com/stock-market-crash-why-sp500-decade-weak-returns-goldman-jpmorgan-2024-11">the belief that stocks are overdue for a downturn</a>.<div type="image" title="Highs on highs" height="990" width="1640" msid="115015351" hostid="261" sizebytes="41676"></div>Of course, US stocks can't steadily rise forever. Drawdowns are inevitable, as Lerner noted that the S&amp;P 500 typically pulls back by 5% or more three times per year. There have only been two such selloffs this year, which is why the strategy chief is watching for another after the election."The weight of the evidence suggests the primary market trends remain positive, even while we expect to see periodic pullbacks along the way," Lerner wrote.<h2 id="c0f461cd-cb83-42a3-89f0-354c06d249e6">Examining the evidence behind the bull case</h2>The market's strong track record in November and December isn't the only reason Lerner and his colleagues feel confident.One key catalyst is another successful earnings season. With nearly 80% of third-quarter results in the books, Bank of America found that corporate profits have risen about 6% year-over-year. Earnings growth topped expectations by 2% as of early November, according to the firm.<div type="image" title="Truist Q3 2024 earnings" height="838" width="1640" msid="115015354" hostid="261" sizebytes="41834"></div>Higher profits can lay the groundwork for further gains by helping justify the market's ambitious valuation. The S&amp;P 500's forward earnings multiple is north of 21x — well above its long-term average of 15.8x. However, neither the equal-weight index <a target="_blank" href="https://www.businessinsider.com/stocks-to-buy-small-mid-caps-market-rotation-outlook-bmo-2024-10">nor smaller stocks</a> are overly pricey.<div type="image" title="Truist stock vals" height="1022" width="1640" msid="115015358" hostid="261" sizebytes="46062"></div>History teaches that earnings — <a target="_blank" href="https://www.businessinsider.com/how-to-invest-election-strategy-trump-harris-stock-market-outlook-2024-10">not politicians</a> — ultimately determine where stocks go.<div type="image" title="Truist returns by president" height="994" width="1640" msid="115015360" hostid="261" sizebytes="53160"></div>"Despite election noise, the US continues to lead in innovation and earnings, built on the foundation laid by resilient and inclusive institutions," Lerner wrote.The strategy chief later said: "Technology has been toward the top [of sector returns] under all three [of the most recent] presidents, likely because that's where the earnings growth has been."Lower interest rates should be another significant tailwind for stocks. In the last 35 years, the S&amp;P 500 has logged a double-digit gain 12 months after the Federal Reserve's first rate cut every time unless the economy was in a recession.<div type="image" title="Truist lower interest rates rally" height="992" width="1640" msid="115015349" hostid="261" sizebytes="40540"></div><a target="_blank" href="https://www.businessinsider.com/economy-outlook-tariffs-trump-trade-war-slowdown-jpmorgan-david-kelly-2024-10">Economic growth looks strong</a>, so an imminent contraction shouldn't be a concern. Inflation is also <a target="_blank" href="https://www.businessinsider.com/inflation-september-cpi-consumer-price-index-federal-reserve-interest-rates-2024-10">heading in the right direction, albeit slowly</a>. And there are other reasons for excitement, in Lerner's view, including the productivity benefits that artificial intelligence can bring.Pair those present drivers with strong past returns, and the future doesn't look so scary."Our view is the ability of the Fed to engineer a soft economic landing and the path of inflation and interest rates as well as artificial intelligence will have a greater impact on markets than the results of the 2024 election," Lerner wrote.

History says US stocks have a 95% chance of finishing the year strong — no matter who gets elected

<ul class="summary-list"><li>Business Insider is seeking nominations for its 2024 Oracles of Wall Street list.</li><li>The list highlights top forecasters in finance and economics who made accurate market predictions.</li></ul>A 50-basis-point rate cut from the Federal Reserve. The S&amp;P 500 rallying 20%. Shares of Nvidia soaring over 180%. Inflation returning to pre-pandemic levels.Did you or someone you know on Wall Street predict these and other significant developments in 2024? We'd like to hear from you.Business Insider is seeking nominations for its 2024 Oracles of Wall Street list, which highlights the top forecasters among economists, strategists, and analysts this year.<h2 id="86451aa1-1085-48f3-9e45-42b621a23b74"><a target="_blank" href="https://docs.google.com/forms/d/e/1FAIpQLSfu9VdooXwk-dGXU3oOlqPUr63-fje76kQLRiUHYCYSNaB7cQ/viewform?usp=sf_link">Nominations can be made through this form.</a></h2>Nominees can be financial professionals from firms of any size. Their calls from this year or last must be verifiable through published documents or media coverage.The types of calls we're looking for include those that made a correct assertion about something in financial markets or the macroeconomic picture. A few examples are listed above. Forecasts that made last year's list can also be found <a target="_blank" href="https://www.businessinsider.com/top-forecasts-predictions-for-2024-wall-street-oracles-2023-12">here</a>.The deadline for <a target="_blank" href="https://docs.google.com/forms/d/e/1FAIpQLSfu9VdooXwk-dGXU3oOlqPUr63-fje76kQLRiUHYCYSNaB7cQ/viewform?usp=sf_link">submissions</a> is end-of-day on Tuesday, November 19, 2024. Please direct any questions to William Edwards at <a target="_blank" href="mailto:wedwards@businessinsider.com">wedwards@businessinsider.com</a>.

The most accurate forecasts of 2024: Seeking nominations for Business Insider's Oracles of Wall Street list

<ul class="summary-list"><li>Several countries have implemented, or are considering, the right to disconnect after work hours.</li><li>There are clear mental health benefits to healthy workplace boundaries.</li></ul>In the past few years, there has been a keen interest in legally giving employees the right to <a target="_blank" class="" href="https://www.businessinsider.com/impact-of-out-of-hour-emails-employee-wellbeing-2021-7">fully log off after</a> work.Having no duty to respond or check calls and emails can be a relief for employees who feel the expectation to be constantly available for their bosses' every request.However, some workplace analysts are not convinced a blanket ban on out-of-hours communication is the key to a healthy work-life balance — and it could even backfire.<h2 id="3bf68885-efdc-4180-93d4-8c0f8a903a35">A growing global trend</h2>So far, in varying forms, at least 17 countries around the world have implemented laws to prevent bosses from contacting their employees outside of business hours.In France, <a target="_blank" class="" href="https://www.businessinsider.com/the-truth-about-frances-work-email-ban-2014-4">where the trend emerged</a>, workers are under no obligation to work at home, and ignoring calls outside work hours is no grounds for discipline. In Portugal, <a target="_blank" class="" href="https://www.businessinsider.com/portugal-digital-nomad-labor-laws-boss-cant-text-after-hours-2021-11">it has been illegal for employers to text their staff out of hours since 2021</a>.In August, Australia joined the list with a new law allowing people to ignore their boss' emails after 5 p.m. The UK may not be far behind with the Labour government's <a target="_blank" class="" href="https://www.bbc.co.uk/news/articles/cn4711jg34vo">"right to switch off" guidance</a>.Similar bills have been considered in bills considered in New York, Washington, and California.The laws have led to fines. In 2018, for instance, the French arm of UK pest-control company Rentokil had to pay €60,000 ($64,000) to a former employee for asking him to leave his phone on when he wasn't working.Elouisa Crichton, an employment partner at Dentons, an international law firm, told Business Insider that a 5 p.m. email cutoff is "a bit of a blunt instrument and arguably puts the emphasis in the wrong place.""It's more about the expectation to respond," she said.<h2 id="4a0e2a32-4da1-496d-ae2a-34294a5aa419">Mental health benefits</h2>There are clear mental health benefits to healthy workplace boundaries.A January report from Gallup, previously reported by <a target="_blank" class="" href="https://www.businessinsider.com/employee-engagement-productivity-remote-work-hybrid-burnout-managers-office-expectations-2024-1">BI, estimated that </a>a lack of <a target="_blank" rel="" href="https://www.businessinsider.com/return-to-office-company-culture-how-to-improve-employee-engagment-2023-10">employee engagement</a> at work may cost the US economy nearly $2 trillion in <a target="_blank" rel="" href="https://www.businessinsider.com/employees-back-to-the-office-what-the-data-really-says-2023-9">lost productivity each year</a>.Professor Sir Cary Cooper, a professor of organizational psychology and health at the Manchester Business School, told BI that the right to disconnect guidance is largely a way to try to fight <a target="_blank" class="" href="https://www.businessinsider.com/employee-engagement-productivity-remote-work-hybrid-burnout-managers-office-expectations-2024-1">burnout among employees</a>.Working on weekends and vacations is "just not healthy," Cooper said, but has become normalized, especially since working from home has become so common, and people find it harder to disconnect after the workday.Bosses also set precedents, whether they realize it or not, if they send emails at all hours, Cooper said. It doesn't matter if they tell their staff not to respond until the morning."You're going to worry them," Cooper said. "Wait until the morning."If it truly cannot wait for some reason, bosses should write the email but set a delay so that it sends the next working day."If it makes you feel better to do it on a Saturday morning to your staff, do it," Cooper said. "But don't send it."Crichton said right-to-disconnect rules are likely to draw attention to excessive workloads in some industries and lead to tribunal claims linked to work-related stress."While the code may not revolutionize workplace practices overnight, it signals growing recognition of the need for balance in the digital work environment," she said.<h2 id="be42a1d1-2336-4afd-ae0d-50d573462dbb">Keeping things flexible</h2>However, there are downsides. If <a target="_blank" class="" href="https://www.businessinsider.com/signs-of-toxic-workplace-how-identify-spot-interview-2024-3">a workplace is toxic</a>, a ban on evening emails would do little to help.Cooper said that when attempting to improve a company's culture, you also don't want to eliminate flexible working altogether. This is when strict laws can do more harm than good.In his work on the book "Flexible Work: Designing our Healthier Future Lives," Cooper found that people have wanted flexible work for a long time. It's something that predates the pandemic and the global shift toward remote working."If you want to work flexibly, you might go pick your kids up from school at 3:30, spend time with them, and then work at night," Cooper said. "But if you're not allowed to deal with emails after 5 o'clock or in the evenings, weekends, or whatever, it's not giving you the flexibility you need."Instead of a blanket ban, flexible guidance can help implement a working day that will look different for everyone.Jeri Doris, the SVP of people at the HR and payroll platform Justworks, told BI that people should shift how they broadly view their work-life balance.Rather than seeing it as balancing time at work and time off, Doris said the focus should be on how to sustain a level of performance you are proud of."I think that that will look and feel differently for everybody," Doris told BI."Where do you do your best work? Is it at night? Is it in the morning?" she said."What routines and systems and norms do you need to have in order for you to show up in these moments when your energy battery is full? Hybrid work may be whatever it looks like for you."

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