Today's High-Yield Savings Rates for July 24, 2025: Up to 4.66%
With the average savings account paying 0.38%, according to the Federal Deposit Insurance Corporation (FDIC), it might feel a little bleak for savers. However, high-yield savings accounts still offer a way to get a little more yield. The best high-yield savings account pays a much higher yield.
Indeed, the top rate from a national bank is 4.66% APY, according to DepositAccounts.com. Locally, you might be able to check with a credit union or community bank. For example, ConnectOne Bank in New York offers an APY of 4.00% if you have at least $2,500 deposited.
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24 minutes ago
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Billionaires Are Buying a Popular AI Index Fund That Could Turn $500 Per Month Into $432,300
Key Points Three prominent billionaire money managers bought shares of the Invesco QQQ Trust in the first quarter. The Invesco QQQ Trust is heavily invested in technology stocks likely to benefit from artificial intelligence. The fund achieved a total return of 1,560% in the last two decades, compounding at 15% annually. 10 stocks we like better than Invesco QQQ Trust › Invest in Gold Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase American Hartford Gold: #1 Precious Metals Dealer in the Nation Thor Metals Group: Best Overall Gold IRA The Invesco QQQ Trust (NASDAQ: QQQ) is the fifth-most popular exchange-traded fund (ETF) worldwide as measured by assets under management. Several prominent billionaires added to their positions in the first quarter, as detailed below: Ken Griffin of Citadel Advisors added 2.2 million shares. The Invesco QQQ Trust now ranks as the third-largest position in the hedge fund, excluding options. Israel Englander of Millennium Management added 474,300 shares. The ETF now ranks among the 25 largest positions in the hedge fund, excluding options. Steven Cohen of Point72 Asset Management added 7,950 shares. The ETF remains a relatively small position in the hedge fund. Citadel, Millennium, and Point72 are three of the most profitable hedge funds in history as measured by net gains. That makes all three money managers good sources of inspiration, and individual investors should consider following their lead with this ETF. The Invesco QQQ Trust could turn $500 per month into $432,300 in 20 years. The Invesco QQQ Trust is heavily invested in technology companies likely to benefit from artificial intelligence The Invesco QQQ Trust measures the performance of the Nasdaq-100, an index that tracks the 100 largest nonfinancial companies listed on the Nasdaq Stock Exchange. The ETF has more than 60% of its assets invested in technology stocks, many of which are likely to benefit as the artificial intelligence (AI) revolution continues to unfold. The 10 largest holdings in the Invesco QQQ Trust are listed by weight below: Nvidia: 9.8% Microsoft: 8.7% Apple: 7.2% Amazon: 5.6% Broadcom: 5.3% Alphabet: 5% Meta Platforms: 3.5% Netflix: 2.8% Tesla 2.6% Costco Wholesale: 2.3% AI spending across hardware, software, and services is forecast to grow at 35.9% annually through 2030, according to Grand View Research. Several companies listed above should benefit. Amazon, Microsoft, and Alphabet are the three largest public cloud providers, meaning demand for AI infrastructure should be a tailwind. And Nvidia is the undisputed leader in data center GPUs, the most popular type of AI accelerator. Apple has introduced generative AI capabilities for iPhones. Meta Platforms is leaning on AI to increase user engagement across its social media platforms and improve outcomes for advertisers. Netflix recently started using generative AI to create content for movies and shows. Broadcom is the market leader in AI networking chips and custom AI accelerators, and Tesla recently launched an autonomous ride-hailing service. History says the Invesco QQQ Trust can turn $500 invested monthly into $432,300 in 20 years Excluding dividends, the Invesco QQQ Trust advanced 1,340% during the last two decades, which is equivalent to 14% annually. Including dividends, the index fund achieved a total return of 1,560%, compounding at 15% annually. I will assume a more modest return of 12% annually to introduce a margin of safety. At that pace, $500 invested monthly in the fund would be worth $105,200 in one decade and $432,300 in two decades. Some investors may prefer to save more or less each month, so the chart below shows how different contribution amounts would grow over time, assuming annual returns of 12%. Holding Period $200 Per Month $400 Per Month $600 Per Month 10 Years $42,100 $84,200 $126,300 20 Years $172,900 $345,800 $518,700 Returns were determined using the compound interest calculator. Investors need two more pieces of information. First, the Invesco QQQ Trust has been very volatile in the past due to its heavy exposure to technology stocks. The index fund fell more than 12% from its record high seven times in the last decade. Similar volatility is likely in the future. Second, the ETF has an expense ratio of 0.2%, meaning shareholders will pay $20 per year on every $10,000 invested. Comparatively, the average expense ratio on U.S. index funds and mutual funds was 0.34% in 2024. Should you buy stock in Invesco QQQ Trust right now? Before you buy stock in Invesco QQQ Trust, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Invesco QQQ Trust wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $625,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,090,257!* Now, it's worth noting Stock Advisor's total average return is 1,036% — a market-crushing outperformance compared to 181% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Trevor Jennewine has positions in Amazon, Nvidia, and Tesla. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Costco Wholesale, Meta Platforms, Microsoft, Netflix, Nvidia, and Tesla. The Motley Fool recommends Broadcom and recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. Billionaires Are Buying a Popular AI Index Fund That Could Turn $500 Per Month Into $432,300 was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24 minutes ago
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US president Donald Trump sacks jobs data chief after dismal employment report
US President Donald Trump on Friday fired the head of the government agency in charge of monthly jobs data after a report showed hiring slowed in July and was much weaker in May and June than previously reported. In a post on his social media platform, Trump alleged that the figures by the Bureau of Labor Statistics were manipulated for political reasons, saying Erika McEntarfer, the director of the agency who was appointed by former President Joe Biden, should be fired. 'I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY,' Trump said on Truth Social. 'She will be replaced with someone much more competent and qualified.' The US leader later posted: 'In my opinion, today's Jobs Numbers were RIGGED in order to make the Republicans, and ME, look bad.' While Trump provided no evidence, the charge that the data was faked was seen as an explosive reaction that threatens to undercut the political legitimacy of the US government's economic data. For decades, Wall Street investors and economists have mostly believed the data to be free from political bias. McEntarfer's removal condemned After Trump's initial post, Labor Secretary Lori Chavez-DeRemer said on X that McEntarfer was no longer leading the bureau and that William Wiatrowski, the deputy commissioner, would serve as the acting director. 'I support the President's decision to replace Biden's Commissioner and ensure the American People can trust the important and influential data coming from BLS,' Chavez-DeRemer said. But condemnation soon followed. A group that included two former BLS commissioners, including William Beach, who was appointed by Trump to the position, berated McEntarfer's firing. They particularly objected to the charge that the data was altered for political reasons. 'This rationale for firing Dr. McEntarfer is without merit and undermines the credibility of federal economic statistics that are a cornerstone of intelligent economic decision-making by businesses, families, and policymakers,' the statement from the group, the Friends of BLS, said. Beach and former President Barack Obama's BLS commissioner, Erica Groshen, signed the letter. 'Firing the Commissioner ... when the BLS revises jobs numbers down (as it routinely does) threatens to destroy trust in core American institutions and all government statistics,' Arin Dube, an economist at the University of Massachusetts-Amherst, said on X. 'I can't stress how damaging this is.' Report shows 73,000 jobs were added in July Friday's jobs report showed that just 73,000 jobs were added last month and that 258,000 fewer jobs were created in May and June than previously estimated. The report indicated that the US economy has weakened significantly under Trump, following a slowdown in economic growth in the first half of the year and a spike in inflation in June, which appeared to be a result of the pressure on prices brought on by the president's tariffs. 'No one can be that wrong? We need accurate job numbers,' Trump wrote. 'She will be replaced with someone much more competent and qualified. Important numbers like this must be fair and accurate; they can't be manipulated for political purposes.' Related Fed's Powell leaves interest rates unchanged despite Trump demands Trump administration partners with Big Tech to launch health data tracking programme Trump has not always been so suspicious of the monthly jobs report and responded enthusiastically after the initial May figures came out on 6 June, when it was initially reported that the economy added 139,000 jobs. 'GREAT JOB NUMBERS, STOCK MARKET UP BIG!' Trump posted at the time. That estimate was later revised down to 125,000 jobs, and then further revised to just 19,000.
CNN
26 minutes ago
- CNN
Did the Fed just royally screw up?
It took only a few days for the Federal Reserve's latest decision on interest rates to age like milk. The central bank on Wednesday said it was holding borrowing costs steady yet again, extending a wait-and-see pattern that began in January. That same day, Fed Chair Jerome Powell told reporters that a 'solid' labor market means central bankers still have the luxury of waiting to see how President Donald Trump's tariffs affect prices before resuming rate cuts that could help boost jobs but could also reignite inflation. Just two days later, it turned out that the job market is on shakier ground than Powell had suggested. It may take a bit more time to know if that's really the case. But the Fed may walk away with egg on its face. The Fed did not respond to a request for comment. On Friday, the Labor Department reported that employers added just 73,000 jobs in July, well below the threshold of monthly job growth necessary to keep up with population growth. Meanwhile, the unemployment rate ticked up to 4.2% from 4.1%. And the monthly report was even worse than it seems: The Labor Department also massively revised downward the job gains for the prior two months. It's now clear that job growth has been anemic, based on the newly revised data: The average pace of monthly job growth from May through July was the weakest than any other three-month period since 2009, outside of the pandemic recession in 2020. 'Powell is going to regret holding rates steady this week,' Jamie Cox, managing partner at Harris Financial Group, said in commentary issued Friday. But not everyone at the Fed shared Powell's view on the labor market. The Fed's latest decision generated pushback from within like it hasn't seen in decades. Fed Governor Christopher Waller and Fed Vice Chair for Supervision Michelle Bowman cast dissenting votes, marking the first time that more than one Fed governor has done so since 1993. In statements issued Friday, both officials pointed to signs of weakness in labor market as a major reason why they dissented, while downplaying the potential effects of Trump's tariffs on prices. The Fed is tasked by Congress to address both high inflation and a weakening labor market. 'The labor market has become less dynamic and shows increasing signs of fragility,' Bowman wrote, adding that just few industries have propelled job growth this year, which remained the case in July, according to the latest data. Still, it may be too soon to conclude that the Fed has royally screwed up. 'It was a disappointing report to be sure, but when I look at the data, we try not to make too much out of any one individual report,' Cleveland Fed President Beth Hammack told Bloomberg on Friday after the July jobs report was released. 'I feel confident with the decision we made earlier this week.' Last year, after the unemployment rate climbed quickly in a short period of time and there were similar calls that the central bank was too late to lower rates, the Fed stepped in with a bold, half-point rate cut to stave off any further weakening. By the end of last year, it turned out that the labor market wasn't falling off a cliff: In December, employers added a massive 323,000 jobs as the unemployment rate edged down from the prior month to 4.1%.
