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Wednesday 8 January 2020

The Daily Money: Why your wallet likes a 'dry' January

05:32

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usatoday.com

The Daily Money
 
Wednesday, January 8

Good morning, Money followers. It's David here, catching you up on a busy night of global news that roiled markets.

Stocks and oil markets had a dramatic evening. Shares in the U.S. and Asia flinched, first plunging then recovering after Iran fired missiles at U.S. and coalition troops based in Iraq. And oil prices surged and recovered. Fears of a heightening conflict between Washington and Tehran eased after a tweet from President Trump said "All is well" and Iran's leaders signaled that military action was ceasing, at least for now. 

Behind the scenes, a cyber conflict with Iran has been silently raging for years. And now the risk of an Iranian cyberattack is higher, with businesses and government infrastructure possible targets.  

If all this news is driving you to drink, think twice. Many Americans commit to a "Dry January" by abstaining. Their livers appreciate it. And so do their checking accounts. We explain.

For more of the day's top Money news, keep scrolling down.

David Brinkerhoff, Deputy Money Editor.

Since the end of the Great Recession in 2009, the U.S. economy has entered an era of unprecedented growth. Overall employment has climbed for a record 109 consecutive months through October 2019, and the national unemployment rate hit 3.5% in September 2019, the lowest level since the 1960s.  For the majority of communities across the […]
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