CD rates today, November 17, 2024 (up to 4.50% APY)
Today’s certificate of deposit (CD) interest rates are some of the highest we’ve seen in more than a decade thanks to several rate hikes by the Federal Reserve. However, the Fed finally cut its target rate in September, so now could be your last chance to lock in a competitive rate.
CD rates vary widely across financial institutions, so it’s important to ensure you’re getting the best rate possible when shopping around for a CD. The following is a breakdown of CD rates today and where to find the best offers.
Historically, longer-term CDs offered higher interest rates than shorter-term CDs. Generally, this is because banks would pay better rates to encourage savers to keep their money on deposit longer. However, in today’s economic climate, the opposite is true.
See our picks for the best CD accounts available today>>
As of November 17, 2024, CD rates remain high by historical standards. However, the highest CD rates can be found for shorter terms of around one year or less.
Today, the highest CD rate is 4.50% APY, offered by Barclays Bank on its 6-month CD. There is no minimum opening deposit required.
Here is a look at some of the best CD rates available today from our verified partners:
The amount of interest you can earn from a CD depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (CD interest typically compounds daily or monthly).
Say you invest $1,000 in a one-year CD at 1.88% APY. At the end of that year, your balance would grow to $1,018.96 — your initial $1,000 deposit, plus $18.96 in interest.
Now let’s say you choose a one-year CD that offers 5% APY instead. In this case, your balance would grow to $1,051.16 over the same period, which includes $51.16 in interest.
The more you deposit in a CD, the more you stand to earn. If we took our same example of a one-year CD at 5% APY, but deposit $10,000, your total balance when the CD matures would be $10,511.62, meaning you’d earn $511.62 in interest.
Read more: What is a good CD rate?
When choosing a CD, the interest rate is usually top of mind. However, the rate isn’t the only factor you should consider. There are several types of CDs that offer different benefits, though you may need to accept a slightly lower interest rate in exchange for more flexibility. Here’s a look at some of the common types of CDs you can consider beyond traditional CDs:
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Bump-up CD: This type of CD allows you to request a higher interest rate if your bank’s rates go up during the account’s term. However, you’re usually allowed to “bump up” your rate just once.
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No-penalty CD: Also known as a liquid CD, type of CD gives you the option to withdraw your funds before maturity without paying a penalty.
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Jumbo CD: These CDs require a higher minimum deposit (usually $100,000 or more), and often offer higher interest rate in return. In today’s CD rate environment, however, the difference between traditional and jumbo CD rates may not be much.
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Brokered CD: As the name suggests, these CDs are purchased through a brokerage rather than directly from a bank. Brokered CDs can sometimes offer higher rates or more flexible terms, but they also carry more risk and might not be FDIC-insured.
$12.9 Billion of Warren Buffett's Portfolio Is Invested in 1 Stock That Could Soar 25%, According to Wall Street
Warren Buffett once said, “Wall Street is the only place that people ride to in a Rolls Royce to get advice from those who take the subway.” It’s fair to say that Buffett doesn’t think too highly of Wall Street analysts’ opinions.
However, analysts think highly of some stocks that Buffett likes. As a case in point, $12.9 billion of Buffett’s Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) portfolio is invested in one stock that could soar 25% over the next 12 months, according to Wall Street.
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Buffett is shifting a lot more money into building Berkshire’s cash stockpile than he is buying stocks these days. However, there’s one stock he has consistently bought in nearly every quarter since early 2022: Occidental Petroleum (NYSE: OXY).
Occidental now ranks as the sixth-largest holding in Berkshire Hathaway’s portfolio. Berkshire’s stake in the U.S. oil and gas producer is worth roughly $12.9 billion at recent prices.
Buffett highlighted eight stocks in his latest letter to Berkshire Hathaway shareholders that he expects the conglomerate to own “indefinitely.” Occidental was in the group. And it was the only one he has continued to buy regularly.
Why does the legendary investor like Occidental so much? The company’s large oil and gas holdings in the U.S. stand at the top of the list. Buffett also likes Oxy’s carbon capture and storage initiatives. In addition, he admires and respects Occidental CEO Vicki Hollub. Buffett wrote in his annual shareholder letter that Hollub knows “how to separate oil from rock, and that’s an uncommon talent, valuable to her shareholders and to her country.”
Wall Street appears to be more bullish about Occidental Petroleum than any other stock in Berkshire’s portfolio. The average 12-month price target for the oil stock reflects an upside potential of around 25%. Even the lowest price target among the analysts surveyed by LSEG is 6.5% above Occidental’s current share price.
We only have to look to Occidental’s third-quarter results announced on Tuesday to understand some of the reasons behind analysts’ upbeat take on the stock. Oxy generated strong operating cash flow in Q3 of $3.8 billion. Adjusted earnings per share came in well above the consensus estimate. The company’s production also topped the midpoint of its guidance range.
Money market account rates today, November 17, 2024 (best account provides 5.00% APY)
Between March 2022 and July 2023, the Federal Reserve raised its benchmark rate 11 times. As a result, money market account (MMA) interest rates rose sharply.
However, the Fed slashed the federal funds rate by 50 basis points in September and another 25 basis points in November. So deposit rates — including money market account rates — have started falling. It’s more important than ever to compare MMA rates and ensure you earn as much as possible on your balance.
The national average money market account rate stands at 0.64%, according to the FDIC. This might not seem like much, but consider that just two years ago, it was just 0.23%, reflecting a sharp rise in a short period of time.
This is largely due to monetary policy decisions by the Fed, which began raising its benchmark rate in March 2022 to combat skyrocketing inflation. In fact, the Fed increased rates 11 times. But it finally cut its benchmark rate in September, causing deposit account rates to start dropping
Even so, some of the top accounts are currently offering upwards of 5% APY. Since these rates may not be around much longer, consider opening a money market account now to take advantage of today’s high rates.
Here’s a look at some of the top MMA rates available today:
See our picks for the 10 best money market accounts available today>>
Additionally, the table below features some of the best savings and money market account rates available today from our verified partners.
The amount of interest you can earn from a money market account depends on the annual percentage rate (APY). This is a measure of your total earnings after one year when considering the base interest rate and how often interest compounds (money market account interest typically compounds daily).
Say you put $1,000 in an MMA at the average interest rate of 0.64% with daily compounding. At the end of one year, your balance would grow to $1,006.42 — your initial $1,000 deposit, plus just $6.42 in interest.
Now let’s say you choose a high-yield money market account that offers 5% APY instead. In this case, your balance would grow to $1,051.27 over the same period, which includes $51.27 in interest.
The more you deposit in a money market account, the more you stand to earn. If we took our same example of a money market account at 5% APY, but deposit $10,000, your total balance after one year would be $10,512.67, meaning you’d earn $512.67 in interest.
Trump's Return, Inflation Fears, And A Bold S&P 500 Prediction: This Week In Economics
The past week has been a whirlwind of economic predictions and policy speculations, largely centered around President-elect Donald Trump’s potential second term. From Cathie Wood’s optimistic outlook to concerns about inflation and a bold S&P 500 prediction, here’s a recap of the top stories.
Cathie Wood’s Reagan-Era Economic Boom Prediction
Cathie Wood, CEO of ARK Investment Management LLC, has drawn parallels between Trump’s potential second term and the economic transformation during former President Ronald Reagan’s administration in the 1980s. Wood believes that Trump’s anticipated policies, including deregulation and tax cuts, could trigger significant economic growth.
Trump’s Policies Could Trigger Inflation
Despite Trump’s promises to lower prices for American consumers, economic experts warn that his proposed policies could trigger higher inflation. Key proposals raising concerns include a universal tariff of up to 20% on imports, mass deportation of undocumented immigrants, and tax cuts. Major retailers have already expressed concerns about potential price impacts.
Trump’s DOGE Plan: Risks and Opportunities
Trump’s proposed Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy, is raising questions about the future of U.S. defense contractors and government IT firms. The plan to restructure federal agencies and reduce wasteful spending could potentially impact these sectors.
Producer Inflation Rises More Than Expected
October’s producer inflation came in slightly higher than anticipated, casting doubts on whether the U.S. economy’s broader disinflationary trend will hold through the year’s final quarter. The Producer Price Index (PPI) surged to 2.4% last month, marking the first increase in the annual PPI inflation rate after three straight months of declines.
S&P 500 to Hit 10,000 by 2029?
Veteran Wall Street strategist Ed Yardeni has made a bold prediction that the S&P 500 index will soar to 10,000 by the end of the decade. Yardeni believes that Trump’s return to the White House, alongside a likely Republican-controlled Congress, will bring in a major regime shift that’s positive for U.S. stocks, the economy, and corporate profits.
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This story was generated using Benzinga Neuro and edited by Ananya Gairola
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The Stock Market Is Doing Something Witnessed Only 3 Times in 153 Years — and History Is Very Clear What Happens Next
In case you haven’t noticed, the bulls are firmly in charge on Wall Street. Since 2024 began, the iconic Dow Jones Industrial Average (DJINDICES: ^DJI), broad-based S&P 500 (SNPINDEX: ^GSPC), and innovation-fueled Nasdaq Composite (NASDAQINDEX: ^IXIC) have respectively gained 17%, 26%, and 28% (as of the closing bell on Nov. 13) and ascended to multiple record-closing highs.
A number of factors are responsible for pushing Wall Street’s major stock indexes to new highs, including excitement for the artificial intelligence (AI) revolution, stock-split euphoria, and optimism for President-Elect Donald Trump’s second term in the Oval Office.
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But when things seem too good to be true on Wall Street, they usually are.
Throughout the year, there have been an assortment of correlative events, forecasting tools, and data points that have warned of potential weakness in the U.S. economy and/or stock market. This includes the first notable decline in U.S. M2 money supply since the Great Depression, the longest yield-curve inversion in history, and the correlative performance of equities when the Federal Reserve shifts to a rate-easing cycle.
However, one historically flawless valuation metric stands head and shoulders above these other tools, and it’s doing something right now that’s only been observed three times in more than 150 years.
Most investors are probably familiar with or rely on the traditional price-to-earnings (P/E) ratio, which divides a company’s share price into its trailing-12-month earnings per share (EPS). The P/E ratio provides a relatively quick way to compare a company’s valuation to its peers or the broader market.
However, the traditional P/E ratio also has limitations. Specifically, it doesn’t work particularly well with growth stocks since it doesn’t factor in future growth rates, and it can be easily disrupted by shock events, such as the lockdowns that occurred during the early stages of the COVID-19 pandemic.
A considerably more encompassing valuation tool, and the metric currently making history, is the S&P 500’s Shiller P/E ratio, also referred to as the cyclically adjusted P/E ratio or CAPE Ratio. The Shiller P/E accounts for average inflation-adjusted EPS from the previous 10 years, which smooths out the impact of shock events and allows for apples-to-apples valuation comparisons looking back more than 150 years.
Could Intel Stock Help You Become a Millionaire?
Intel (NASDAQ: INTC) was once considered a stable long-term investment on the semiconductor market. But over the past 10 years, the chipmaker’s stock declined 26%. Even with reinvested dividends, it delivered a negative total return of 4%.
During the same period, the S&P 500 rallied 192% and generated a total return of 250%. AMD‘s (NASDAQ: AMD) stock soared a whopping 5,220%. Let’s see why Intel’s stock withered — and if it has the potential to bounce back and generate millionaire-making gains in the future.
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Intel is still the world’s largest producer of x86 central processing units (CPUs) for PCs and servers. But according to PassMark Software, Intel’s share of the x86 CPU market shrank from 82.2% to 61% between the fourth quarters of 2016 and 2024. AMD’s share doubled from 17.8% to 35.7%.
Intel ceded the market to AMD as it grappled with production delays, chip shortages, and shifting strategies under three different CEOs. Intel manufactures most of its chips at its first-party foundries, but AMD outsources all of its production to third-party foundries like TSMC and Samsung.
Over the past few years, Intel fell behind TSMC and Samsung in the “process race” to manufacture smaller, denser, and more power-efficient chips. Intel’s problems started with a difficult transition from 14nm to 10nm chips (2017-2020), then worsened with even more delays in its subsequent transition to 7nm chips (2020-2023). As Intel tripped over its own feet, AMD developed a new generation of Ryzen CPUs for PCs and Epyc CPUs for servers. TSMC pumped out those chips on schedule, and many of Intel’s longtime customers started to pivot toward AMD’s chips instead.
Intel also failed to gain a foothold in the mobile chip market, and its CPUs became less relevant than Nvidia‘s graphics processing units (GPUs) in the booming AI market. Missing those two key technological shifts indicated Intel had lost its edge in the chipmaking market.
Pat Gelsinger, who became Intel’s CEO in 2021, initially dismissed the idea that it needed to follow AMD’s lead, divest its foundries, and become a “fabless” chipmaker. Instead, Gelsinger doubled down on expanding Intel’s foundries, chased government subsidies, and claimed it could catch TSMC by 2025.
But at the same time, Intel quietly outsourced some of its production to TSMC to alleviate the pressure on its first-party foundries. Even with that assistance, Intel struggled to ramp up its production of its newest Meteor Lake chips over the past year as development of new AI-driven CPUs compressed its gross margins.
Trump's win means low taxes, stock market gains, and economic growth – for now
In the wee hours of November 6 when the U.S. presidential race was called for Donald Trump, many Americans made a prediction, some advisers say: A Trump victory means lower taxes are here to stay.
For the past year, many Americans were bracing for the expiration of the 2017 Tax Cuts and Jobs Act (TCJA), also known as the Trump tax cuts. TCJA was the largest overhaul of the tax code in 30 years. It included widespread tax reductions for businesses and individuals. Many of the benefits for individuals, including lower tax rates for nearly all Americans, expire at the end of 2025.
Now that Trump’s returning to the White House with a majority in both congressional chambers, advisers say TCJA’s likely to get extended.
“There was a little bit of relief with our clients, especially those who didn’t necessarily want him to win or vote for him,” said Daniel Milan, managing partner at Cornerstone Financial Services in Southfield, Michigan. “It’s almost to make themselves feel better about (Vice President Kamala Harris’) loss. It’s self-soothing, in a sense.”
Potentially stronger investment portfolios and economy, at least in the short term: Americans have already seen their 401(k) and other stock market investments soar, partly on expectations Trump will keep corporate tax rates low and possibly, even lower them further, some advisers said. The blue-chip Dow and broad S&P 500 indexes surged to record highs the day after the election and have remained strong.
“Companies that delayed investment spending on election/regulatory uncertainty may now be prepared to start putting money to work,” wrote chief international economist James Knightley and Dutch Bank ING in a report.
That should bode well for corporate profits and economic growth, economists said.
Scott Anderson, chief U.S. economist at BMO Economics bumped up his 2025 economic growth forecast to about 2.2% from 1.9%. “The Trump victory is likely to at least temporarily bolster consumer and business confidence as well as stock market performance,” he said.
Lower tax rates. One of the most significant changes for most Americans included lower income tax rates. The top rate fell from 39.6% to 37%, the 33% bracket dropped to 32%, the 28% bracket dipped to 24%, the 25% bracket slid to 22%, and the 15% bracket fell to 12%. The lowest bracket remained at 10%, and the 35% tax bracket was unchanged. If the income tax cuts aren’t extended, the affected brackets will revert to pre-TCJA levels.
With Trump’s win, “there’s renewed confidence these will be extended or become permanent tax cuts,” Milan said. “This is good news for our finances.”
Former Uber Executive And 3 Congressmen Contenders For Trump's Transportation Chief Role: Report
President-elect Donald Trump‘s transition team is reportedly considering several individuals, including a former Uber executive and three Republican congressmen, for the position of U.S. Department of Transportation chief.
What Happened: The team is considering Emil Michael, a former Uber executive and Trump donor, and three current or former Republican congressmen: Sam Graves, Garret Graves, and Sean Duffy to head the Department of Transportation, Reuters reported, citing multiple sources familiar with the matter.
Michael, known for his social connections with billionaire and Trump supporter Elon Musk, is reportedly a strong contender for the role. Other tech executives who backed Trump have also advocated for Michael, the report said, while adding that other contenders could also emerge for the role.
Why It Matters: According to Reuters, Musk is expected to exert influence on the pick of Transportation Department chief.
The billionaire contributed millions to a super PAC that supported Trump’s presidential campaign and also actively campaigned for the President-elect in the swing state of Pennsylvania, sealing his position as a major player in Trump’s campaign and circle.
The Department of Transportation has several departments under it which regulate Musk’s companies including SpaceX and EV giant Tesla Inc TSLA. While the Federal Aviation Administration licenses commercial space launch facilities and private sector launches, the National Highway Traffic Safety Administration regulates automakers and determines regulations for autonomous vehicles.
Musk’s Tesla is actively working towards enabling autonomous driving with its full self-driving (FSD) driver assistance technology. However, FSD has often come under the NHTSA’s radar over vehicle crashes where FSD was deployed.
Check out more of Benzinga’s Future Of Mobility coverage by following this link.
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Should You Buy Nvidia Stock Before Nov. 20? Wall Street Has a Compelling Answer.
One of the most profound changes in the tech landscape over the past couple of years has been the advancements in the field of artificial intelligence (AI). There’s a strong argument that the advent of AI early last year was one of the biggest sparks that set off the current bull market rally. ChatGPT heralded the advent of generative AI, and since its release in November 2022, the S&P 500 has jumped 46%, while the Nasdaq Composite has surged 67% (as of this writing).
While there have been plenty of beneficiaries of these secular tailwinds, one of the most notable has been Nvidia (NASDAQ: NVDA). In a nutshell, the company’s graphics processing units (GPUs), which were originally developed to craft lifelike images in video games, proved equally adept at powering AI models.
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The resulting run on Nvidia’s chips fueled incredible financial results and sent the stock into the stratosphere. Since the beginning of last year, Nvidia stock is up more than 900% (as of market close on Thursday), turning the company into a stock market darling.
Nvidia has a lot riding on its financial results next week. Let’s look at the run-up to this critical quarter, what Wall Street is saying, and what investors should expect.
As technologists began to understand the implications of generative AI in early 2023, demand for Nvidia’s AI-centric processors went from zero to 60 in just months. In the company’s fiscal 2024 second quarter (ended July 30), the results were nothing short of astounding. Nvidia delivered record revenue of $13.5 billion, up 101% year over year, while its adjusted earnings per share (EPS) of $2.70 soared 429%. EPS in terms of generally accepted accounting principles (GAAP) were even more striking, up 854%.
The next four quarters were equally impressive, with record-setting, triple-digit sales and profit growth in each one. Nvidia’s fiscal 2025 second quarter (ended July 28) was the latest in the streak. Record revenue of $30 billion jumped 122% year over year, while adjusted EPS of $0.68 soared 152%. It’s worth noting that investors had concerns about Nvidia’s gross margin, which ticked lower, but that was from a record high set in the second quarter.
Astute investors knew the company’s triple-digit streak would eventually come to an end, and management suggested that time has come. For the soon-to-be-announced third quarter (ended Oct. 29), Nvidia is guiding for revenue of $32.5 billion, which would represent year-over-year growth of 79%.
Elon Musk Reacts After Brazilian President's Wife Swears At Tesla CEO: 'They Will Lose The Next Election'
Brazil’s first Lady Rosangela da Silva reportedly swore at Tesla Inc CEO Elon Musk at an event in Rio de Janeiro on Saturday.
What Happened: “F— you, Elon Musk,” she said while talking about the need to regulate social media, Bloomberg reported.
Musk responded to the snippet of the First Lady’s speech on social media platform X and said, “They will lose the next election.”
Rosangela da Silva is the wife of President Luiz Inacio Lula da Silva of the Workers’ Party who won against Jair Bolsonaro in 2022. Brazil’s next Presidential election is slated for 2026.
Why It Matters: Brazil banned Musk-owned social media platform X earlier this year after it failed to ban profiles that the government claimed were spreading misinformation.
Musk subsequently resorted to namecalling Brazilian Supreme Court Justice Alexandre de Moraes on X, referring to him as a “criminal wearing judges robes like a Halloween costume.”
“The world is not obliged to put up with Musk’s far-right ideology just because he is rich,” President da Silva said in September about Musk.
X was restored in Brazil in October after X complied with the judge’s demands.
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