The Daily Money: Chinese imports plummet
Good morning! It’s Daniel de Visé with your Daily Money.
Chinese imports to the U.S. dropped to their lowest levels since the pandemic as punishing tariffs began to take hold in March, according to recently released Census trade data.
The drop in trade was a major impetus for talks over the weekend that led to steep reductions in tariffs on both sides. Click here for the full report.
Is the 60/40 rule staging a comeback?
If you invest according to the classic 60/40 rule, with three fifths of your nest egg in stocks and two fifths in bonds, then take a moment to pat yourself on the back: It’s a pretty good strategy.
That’s the conclusion of a new report from Morningstar, the financial services firm.
What's the right mix of stocks and bonds in your retirement portfolio? Click here for some answers.
House Republicans defend program cuts
House Republicans defended a bill that would enact sweeping tax cuts, raise the debt ceiling, and add restrictions to benefit programs during a heated marathon day of committee hearings on Capitol Hill.
Three separate panels reviewed the legislation that would become part of a massive package to implement President Donald Trump's agenda on May 13. Democrats repeatedly slammed the package as a giveaway to the wealthy.
Here are the benefit programs at risk.
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About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from Paste BN, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.