The Week in Review
Stocks started off the week lower in reaction to major selling activity in several blue chip stocks, reportedly the result of family office Archegos Capital Management defaulting on margin calls from several Wall Street banks.
On Wednesday, stocks rallied as investors expressed enthusiasm towards President Biden’s newly announced $2 trillion infrastructure plan.
As the short week came to a close, budding optimism around the global recovery seemed to take hold, with the S&P 500 breaking above 4,000 for the first time.
For more news and how it affects your money, visit the SoFi app.
This Week’s Top Stories
The first quarter of 2021 is officially in the rearview mirror. It was a busy stretch which saw the United States swear in a new president, the rise of Reddit traders, and a rotation out of tech stocks due to rising bond yields. Click here to see a full recap of the first three months of the year.
This past week the Biden administration introduced a $2 trillion infrastructure package. The spending plan, which will rebuild roads and tunnels, improve schools, and upgrade the electric grid, is Biden's second major initiative since taking office in January. Learn more about the plan and its impact on the economy.
News Corp, the global media company that owns Dow Jones and Fox News, is acquiring the consumer unit of Houghton Mifflin Harcourt in a $349 million deal. Learn more about News Corp’s plans for the future..
Deep Dives from SoFi Learn
SPACs, or special purpose acquisition companies, are dominating financial headlines. Here are some important things to know before you invest.
As many as 65% of workers say that, now that they work from home, they’re putting in longer hours than pre-pandemic. In fact, the average workday has lengthened by more than 45 minutes following stay-at-home orders. Read WFH for the long haul on the SoFi Blog for tips to establish work-life balance when your normal schedule isn’t returning anytime soon.
Want to know ways to increase home value through remodeling? Here, we’ll cover the possible returns on investment for home improvements—and what each project can require.
The Benefits of Automating Your Finances
Automating finances can not only be a smart money move, it could also help alleviate some of the stress surrounding payment deadlines. Some benefits of finance automation include helping avoid late fees and sticking to your monthly budget.
One way to automate personal finances is to set up a direct deposit into a checking, savings, or cash management account, like SoFi Money®. For a limited time, get $100 when you switch your direct deposit to SoFi Money.* Log in to the SoFi app to get started.