May 8, 2021

Amid evolving news surrounding COVID-19 and the economic reopening, your financial needs are our top priority. For more information,click here.


Top Story

The Week in Review

Markets started May with a pop. With news of easing COVID restrictions for several states, SPX gained while Nasdaq, which houses many stay-home beneficiaries, was down.

Midweek, fears over inflation and rates were punctuated by Treasury’s Yellen on potential interest rate rises.

Toward the end of the week, investors signaled confidence in economic rebound.

For more economic news and how it affects your money, visit the SoFi app.

This Week’s Top Stories

Some of the nation’s largest banks have not lifted pandemic restrictions on new HELOCs. Learn why Wells Fargo and JPMorgan Chase are still on the sidelines.

Jewelry company Pandora (PANDY) is rolling out a collection which relies on lab-grown diamonds. Learn why Pandora and other jewelers are focusing on a sustainable supply chain.

The Biden Administration voiced support for lifting patent protections on drugmakers’ COVID-19 vaccines. Learn what this could mean for vaccine companies.

Deep Dives from SoFi Learn

Wondering whether a home equity line of credit is a good idea? We look at the pros and cons to help you decide if it’s the right move for you. Learn more with A Homeowner's Guide to HELOC Loans.

An important goal for many is to build up an emergency fund. But how much should go in that fund? Visit SoFi Learn to get some insights into this question.

How do you pay taxes on cryptocurrency? Learn all you need to know about how the IRS treats crypto and how it is taxed.

Incoming Freshman? You Could Win $2,500 to Help Pay for College!*

Announcing the Future Freshman Sweepstakes. We’re awarding 20 individual scholarships of $2,500 to help incoming college freshmen—and parents of freshmen!—pay for college. Ends 5/31. Enter now.

TLS 1.2 Encrypted
Equal Housing Lender