MoneyWatch

Stocks faltered on Thursday as investors await a key government report on the pace of U.S. inflation in May. The S&P 500 fell 98 points, or 2.4%, to close at 4,018, putting it on track for its ninth losing week in the last 10. The Dow Jones Industrial Average tumbled …

Average long-term U.S. mortgage rates jumped back up ahead of next week’s Federal Reserve meeting, where it’s expected to announce another big increase to its main borrowing rate. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate jumped to 5.23% this week from 5.09% last week. A year ago …

Someone turning 65 has nearly a 7-in-10 chance of needing long-term care in the future, but don’t have the savings to manage the cost of assisted living. One way to help pay for it is grabbing a reverse mortgage and using the equity in their mortgage-free home. Here’s how to …

Leave your plastic at home — all you need to make purchases in a new pilot program from Mastercard is your face. To buy something, simply smile or wave at a camera equipped with a biometric reader, according to the company, which touts the advantage of not having to pull …

Stocks plummeted on Wall Street on Thursday, erasing a rally from a day earlier, as markets assess the fallout from the Federal Reserve’s stepped-up fight against inflation. The Dow Jones Industrial Average fell 1,063 points, or 3.1%, to close at 32,997. The S&P 500 fell 3.6%, closing at 4,146, with …

Twitter said on Thursday that its first-quarter revenue jumped 16% as it added more users and advertisers, but the social media company added it is pulling “all previously provided goals and outlook” due to its pending acquisition by billionaire Elon Musk.  Twitter also said it won’t provide forward-looking guidance and that it …

New Jersey’s recreational marijuana marketplace is open for business. Recreational sales of cannabis for adults 21 and older are scheduled to start Thursday, with the first alternative treatment centers opening at 6 a.m. in part of the state. “It’s a huge event. It’s a moment in time in American history …

JetBlue Airways has offered to buy Spirit Airlines for about $3.6 billion and break up a plan for Spirit to merge with rival budget carrier Frontier Airlines. Spirit said Tuesday that its board will evaluate the JetBlue bid and decide what’s best for its shareholders. JetBlue offered $33 per share …

Apple unveiled its latest budget version of the iPhone, the third-generation iPhone SE, capable of connecting to ultrafast 5G wireless networks — an upgrade that’s already been available on the company’s upscale models for more than a year. The latest iPhone SE marks the first upgrade to the bare-bones version …

Stocks jumped Tuesday after Russia’s Ministry of Defense said that some of the forces the country had massed around the Ukraine border were being pulled back to their bases. Western officials, however, were in no rush to accept the remarks as an indication that Russia is de-escalating.  The S&P rose …