August has delivered strong performance for equities, yet those looking to set aside savings this autumn can still earn attractive returns through certificates of deposit. Depositors are closely monitoring the Federal Reserve ahead of its September 15-16 policy meeting. Futures markets tied to the fed funds rate point to about a 65% probability that the central bank will lift its key lending rate by a quarter percentage point, bringing it to a range of 3.75% to 4%. Speaking in Jackson Hole, Wyoming late last week, Fed Chairman Kevin Warsh expressed his concerns over persistent inflation. He remarked that “while this summer’s [inflation] readings were better than expected, they do not tell me that underlying trends have meaningfully improved.” In fact, the July personal consumption expenditures price index climbed at an annual pace of 3.7%, exceeding the Dow Jones consensus forecast by 0.1 percentage point and remaining well above the central bank’s 2% inflation goal. Although rising rates pose challenges for borrowers, they present opportunities for savers who can take advantage of stronger yields on instruments like certificates of deposit. A number of banks, for instance, continue to price their CDs competitively and offer appealing yields as they vie for customer deposits. Recent move Just last week, Sallie Mae raised the annual percentage yield on its one-year CD by five basis points, bringing it to 4.2%. This adjustment places Sallie Mae’s one-year CD rate roughly 25 basis points above the peer median APY of 3.95%, according to Vincent Caintic, analyst at BTIG. One basis point equals 1/100th of a percent, or 0.01%. Other financial institutions also continue to feature attractive rates on their one-year CDs. Popular Direct offers an APY of 4.25% on its 12-month CD, as of Monday afternoon, while CIBC advertises a 4.15% yield. Savers can also discover appealing rates if they’re open to terms beyond 12 months. Synchrony Financial provides a 4.3% APY for a 16-month CD, and Marcus by Goldman Sachs offers a comparable rate on its 18-month product. Happen Bank features an 11-month CD with a 4.2% APY. If you’re considering a CD, carefully evaluate your time horizon and liquidity requirements. “Breaking” a CD prior to maturity results in a penalty in the form of forfeited interest. Savers should also stay mindful of their CD’s expiration date, since banks may automatically roll them into a renewal CD at a lower rate. This site is now part of Versant. By continuing to use this service, you agree to our Terms. You also acknowledge that our updated Privacy Policy applies, including to your existing data. For details on your data rights, click here. On this service, we and our vendors use cookies and other tools (“Cookies”) to store and access information on your device, such as device identifiers, IP address, and your browser type. 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Market Insider

Stocks making the biggest moves premarket: Nvidia, Robinhood, Novartis & more

Check out the companies making the biggest moves premarket: Chipmakers — The group fell to start the new month of trading as Treasury yields rose to pressure the broader market. The VanEck Semiconductor ETF (SMH) lost more than 1%. Nvidia , AMD and Micron were also down more than 1%. Energy stocks — Shares rose broadly alongside oil prices, as tensions in the Middle East persist. The State Street Energy Select Sector SPDR ETF (XLE) climbed more than 1%. EOG Resources , Diamondback Energy and Targa Resources advanced more than 1% each. Robinhood Markets — The online brokerage gained more than 2% after a Morgan Stanley upgrade to overweight from equal weight. “HOOD’s expanding platform is turning product velocity into stronger customer economics,” analysts at the bank said. Novartis — Shares gained 4% on positive trial data for the company’s multiple sclerosis drug. Novartis said remibrutinib “significantly” reduced relapse rates in MS patients relative to another treatments. Duolingo — The language education app rose 6% following an upgrade by Evercore ISI to outperform from in line. Evercore analysts cited strong survey data for the company.

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Venezuelan interim authorities have awarded U.S.-backed North American Blue Energy Partners, or NABEP, 100-year concessions for 17 oil fields, with proven reserves of approximately 65 billion barrels, the White House said on Monday.

NABEP ranks as the second-largest private oil producer in Venezuela. The company has provided the U.S. Department of War’s Office of Strategic Capital with a 35% equity stake in its corporate parent, according to the White House, representing up to “hundreds of billions in value and dividends for the United States.”

President Donald Trump announced on Friday a deal with Caracas that would grant the U.S. majority control over 65 billion barrels, or roughly 20% of the South American country’s vast oil reserves. The U.S. had approximately 46 billion barrels in proven oil reserves as of the end of 2024, according to official figures.

In a fact sheet published Monday evening in Washington, the U.S. government stated it would hold the right to purchase, at production cost, a guaranteed 20% of the off-take from all current and future fields NABEP will operate, as part of an effort to support replenishing the U.S. strategic petroleum reserves.

The U.S. government also retains the “right of first refusal” to purchase the remaining 80% of NABEP’s production, making Washington the prioritized buyer for its energy holdings.

Analysts, however, remained doubtful that this landmark oil agreement could meaningfully increase U.S. energy production or lower gas prices for Americans in the near term. Significant investments are required to extract the valuable resources in Venezuela, whose oil output remains a fraction of its potential due to decades of mismanagement, insufficient investment and sanctions.

NABEP also planned to invest up to $100 billion in new oil infrastructure in Venezuela to expand production, the White House said. Under the agreement, the company is expected to pay $200 billion in royalty and tax payments to Venezuelan governments over the first 25 years.