Saturday,
August 14, 2021
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Top Story
The Week in Review
US stocks were mixed Monday. Oil prices slid on fears that the Delta variant of COVID-19 could cause more lockdowns, which would negatively impact demand for oil.
US stocks were mixed Tuesday as the Senate passed the $1 trillion infrastructure package. The plan includes $550 billion in spending on transportation and broadband, and is expected to help strengthen the economy. Companies like the construction machinery maker Caterpillar and the steelmaker Nucor traded in the green. Meanwhile, bond yields jumped, which fueled gains for bank stocks like Wells Fargo and Goldman Sachs.
US stocks were mixed Wednesday as investors analyzed the Labor Department’s July Consumer Price Index. This metric tracks the prices that Americans pay for everyday goods and services. Prices increased 5.4% in July compared to a year ago, which is a significant jump, but it is roughly in line with what economists were expecting.
US stocks climbed slightly Thursday as investors reacted to data which gave mixed messages about the economy’s recovery. The Labor Department reported that initial jobless claims fell last week. Meanwhile, the Producer Price Index increased 0.9% in July, which was higher than forecasts of a 0.5% jump.
US stocks hovered near their recent highs Friday. Trading volume was low last week, but indexes ticked upward despite concerns about rising cases of the Delta variant of COVID-19 and data showing that consumer sentiment is declining.
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This Week's Top Stories
From Nike to Walmart, Wall Street is betting increased consumer spending will enable retailers and global brands to outperform through 2022. But the fast-spreading Delta variant could derail those plans. Signs are emerging that consumers are not so quick to spend all the savings they have amassed during the pandemic.
D. R. Horton (DHI) and KB Home (KBH) are among the home builders which have slowed sales as they try to meet demand. Low interest rates and a shift to working at home has driven a huge increase in home sales. Home builders are dealing with labor shortages, lack of supplies, rising material costs, and limited lots to build on, which is preventing them from meeting the demand. Investors have taken the lost sales in stride, with shares of the group up double digits.
The Senate approved Joe Biden’s $1 trillion infrastructure bill, which now goes to the House for a vote. See what Liz Young, SoFi’s Head of Investment Strategy, has to say about the bill’s impact on the markets, corporate taxes, and the overall economic recovery.
Deep Dives from SoFi Learn
Investors can receive compounding returns by investing in asset classes that earn interest on both the initial amount invested and previous profits. Learn more about receiving compounding returns on investments at SoFi Learn.
People who moved away from their work location during the pandemic, or were hired fully remote, may be asked to show up to the office eventually—and that could mean becoming a resident of a different state. Here’s how to handle moving for the job down the line.
If you’re buying a home or refinancing a mortgage, the lender will likely do a property valuation. Here’s a guide to appraisals, broker price opinions, and more.
Your Home Is an Asset. Do You Know What It’s Worth?
Your house is much more than a home—it’s likely one of the biggest purchases you’ll ever make, with a value that makes up a significant proportion of most people’s net worth. As such, you’ve probably wondered from time to time what your home is worth.
Determining the answer is not as simple as referring back to your sales agreement or mortgage papers. What you paid for your house when you purchased it merely reflects what your house was worth to you—and the real estate market—at a specific point in time.
In reality, housing values are dynamic and they fluctuate based on a number of factors. Some things, such as keeping your house in good repair, are within your control. Other external influences, such as the market, mortgage rates, and other considerations, can also affect the value of your home.
We’ve made it easy to connect and track your real estate assets right alongside the rest of your money. Connect a property and get 250 SoFi points!
