TheStreet's JD Durkin brings the latest business headlines from the New York Stock Exchange as markets close for trading on Monday, March 11.
Full video transcript below:
JD DURKIN: I'm JD Durkin, reporting from the New York Stock Exchange.
stocks closed mixed to close out today's session. The Dow Jones closed up 47 points, the Nasdaq closed down four-tenths of a percent and the S&P closed slightly lower. Investors await key consumer price data due out on Tuesday. This inflation report will be closely watched by investors after Federal Reserve Chairman Jerome Powell indicated that the Fed will not cut interest rates until inflation is under control.
In other news, almost half of parents with a child over 18 say they are still providing financial support. According to a new report from Savings.com, 47 percent of parents with adult children help pay for groceries, cell phone plans, and health and car insurance. The report found that parents are shelling out nearly $1,400 a month to help support their children.
Despite the improving economy overall, Savings.com's findings may reveal, appointment “This may indicate that the economic recovery, evidenced by high employment, falling inflation and economic growth, has not reached young Americans who are unwilling or unable to stop receiving help from their parents.”
The number of parents who sacrifice their own financial security to help their children is increasing. 58 percent said they had put their own financial security at risk, an increase of more than 60 percent from what parents said last year.
The findings also showed that 61 percent of adult children still living at home do not contribute to any household expenses.
That will be enough for your daily report. From the New York Stock Exchange, I'm JD Durkin of TheStreet.
