Morning Business Report: Americans save more, markets climb, and a bold prediction on lifespan
(LILAMAX)- Americans are contributing a higher percentage of their earnings to retirement accounts than ever before. According to Fidelity, the average savings rate has climbed to a record 14.3%, up from 13.5% in 2020. This rise is being driven in part by more employers using automatic enrollment and starting contribution rates at 5% instead of the traditional 3%.
A key measure of global stock performance hit a new record on Wednesday. The MSCI All-Country World Index, which tracks both developed and emerging markets, climbed to an all-time high as volatility over tariffs eased. Strong first-quarter earnings also played a role in boosting investor confidence and driving market inflows.
It was a quiet day for U.S. markets. The Dow Jones Industrial Average snapped a four-day winning streak, while the Nasdaq and S&P 500 managed modest gains.
New research shows that ongoing economic conditions are changing how Americans manage their money. A survey commissioned by Affirm and conducted by Talker Research found that 8 in 10 Americans have adjusted their financial habits. Half say they’re keeping more cash on hand for unexpected expenses, 40% are favoring fixed, predictable payments, and over a third are focusing more on long-term planning than ever before.
Biohacker Gary Brecka claims that living to 150 years old may soon become common. Thanks to rapid advances in bioscience, artificial intelligence, and early disease detection, Brecka says people may soon be able to choose how long they want to live. He predicts a future where AI and big data help individuals “circumvent” the limitations of aging.
