The Week in Review
Tech started the week by leading a broad market selloff. A cyber attack on a key pipeline led to energy shares being up, but tech dragged markets lower.
CPI data was higher than expected on Wednesday, spurring fear of rising rates. Unsurprisingly, treasury yields were up for the day.
Toward the end of the week, investors were seemingly less worried about rising price data. US stocks climbed Friday, continuing to rebound after a significant selloff early in the week.
For more economic news and how it affects your money, visit the SoFi app.
This Week’s Top Stories
Job gains slowed in April, surprising economists who expected to see 1 million new positions. Learn more about these trends here.
Ether, the world’s second-largest cryptocurrency, set a new all-time high Monday. Learn why investors are enthusiastic about this Bitcoin rival.
Sales of new homes have been surging since the start of the year. Learn what is driving this trend.
Deep Dives from SoFi Learn
In order to protect your capital, it is important to familiarize yourself with fraud related to Bitcoin and cryptocurrency. In this list we cover common scams and tips to avoid them. Read more and Avoid These 5 Bitcoin Scams in 2021.
Setting a goal is just the first step. These eight steps will help you see it through to completion. Learn more with How to Actually Achieve Your Goals.
What is good debt vs. bad debt? Read The Beginners Guide to Good and Bad Debt to learn about the different types of debt and how they affect your overall financial situation.
Dig Into the Good Debt Method
Do you have a student loan or mortgage? So do 42% of people who answered our 2021 Money Moves Survey by SoFi.* But what most people in this category probably don’t know is that this is considered “good debt,” since these loans tend to have an interest rate below 7%.
So how do you deal with good debt? By trying our new money move: the Good Debt Method. One way to make this move is to try to get the lowest rate you can on your loans. Find out how by exploring our new tool.