The Week in Review
It was relatively quiet at the beginning of the week, with markets down marginally.
Markets rose ~1% midweek after a 2-day losing streak, led by reopening beneficiaries. Both SPX and Nasdaq were within 1% of historical highs.
After Wednesday’s snapback, stocks pointed down despite several positive earnings reports, and ahead of jobless claims and home sales data.
Markets declined Thursday with news of a potential capital gains tax hike proposal along with daunting news over a domestic COVID strain.
Markets shrugged off cap gains tax fears at the end of the week as Markit Services PMI, a measure of demand, was far better than expected—which is a positive economic sign.
For more economic news and how it affects your money, visit the SoFi app.
This Week’s Top Stories
The SEC has a new head after the Senate confirmed Gary Gensler. Learn what's in store for Wall Street under his charge.
Netflix’s subscriber growth is declining as pandemic restrictions start to ease and competition heats up. Learn how Netflix is responding to these challenges.
Demand for at-home coffee beans, espresso machines, and pods boosted Nestlé’s sales in the first quarter. Learn how the company plans to keep the momentum going even as people return to offices and coffee shops.
Deep Dives from SoFi Learn
Curious about crypto? Since cryptocurrencies are volatile and involve a high degree of risk, it can be a good idea to do some research. Learn the basics with this crypto guide.
Understanding auto finance terms can make buying a car easier. Learn what the most important auto loan terminology means.
Let’s take a minute to talk about green investing. What is green investing, and how can it help make the world a better place (while making investors money)? Here’s what investors need to know.
Say Hello to the Safety Net
Truth: 17% of people have less than one month of living expenses saved for emergencies, according to our recent 2021 Money Moves Survey by SoFi.*
If you’re one of them, you’re not alone—and we’ve got a new money move to help: the Safety Net. What does this move entail? If you’re living paycheck to paycheck, tracking expenses is just one way to get started. Find out how else to make this move by exploring our new tool.