Monday,
November 29, 2021
Market recap
Dow Jones
35,813.74
+194.49 (+0.55%)
S&P 500
4,594.62
-106.84 (-2.27%)
Nasdaq
15,491.66
-353.57 (-2.23%)
Top Story
Holiday Sales in Focus This Week
All eyes will be on retail sales this week, following on the heels of the Thanksgiving weekend. With retailers offering deals early and inflation at a 30-year high, it’s not clear if Black Friday was the sales driver of years past.
There’s also Cyber Monday today, the internet’s turn to offer sales and discounts. Investors will be paying close attention to gauge how consumers are feeling when sales results are released.
Initial unemployment claims will also be of interest this week given the sharp drop seen in the week prior. Last week the number of people out of work fell to a 52-year low.
The Week Ahead at SoFi
Dallas—join us in person for a talk on the home buying process. Then tune in for a virtual holiday mixology class, a talk on learning agility, and Your Next Dollar. Sign up for these events and more in the SoFi app!
A Few Headlines That Should Be on Your Radar
Fannie Mae and Freddie Mac Update Loan Limits as Home Prices Rise Fannie Mae (FNMA) and Freddie Mac (FMCC) will back home loans of nearly $1 million starting next year—a first for the two lenders. The move reflects soaring home prices this year. Fannie and Freddie’s loan limits are updated annually based on the average price of homes across the country. Read more >> Blockchain Use Cases Expand Beyond Crypto Many people associate blockchain with cryptocurrency since it is the technology that underpins digital tokens. But blockchain has a myriad of other uses. Increasingly, people are using the technology to store vaccine cards, get access to financial services, play games, send money across borders, and more. As the market takes off in the coming years, the uses for blockchain are only expected to grow more. Read more >> Student Loan Borrowers Face Changes in 2022 Ever since the pandemic, federal student loan borrowers have had a break. Interest rates on federal student loans have been set at 0% and repayments have been put on hold. That is expected to change in 2022 as those moratoriums expire on January 31. At that point, millions of borrowers will have to resume making payments. Read more >> 33 Ways to Celebrate the Holidays Affordably There are so many expenses that need to be taken into account during the holidays, but you don’t need to overspend for top-of-the-line gifts and experiences to enjoy the season. Here are some ideas to help you celebrate the holidays affordably. Read more >>What to Be on the Lookout for Today
- Pending home sales for October will be released.
- Arco platform (ARCE), a Brazilian educational software company, will report its latest results. The company recently announced that it has secured a $150 million investment from Dragoneer.
Financial Planner Tip of the Day
“If you’re looking to pay off your debt faster, it’s a good idea to take a look at your spending and income, find some ways to reduce your non essential spending, and then funnel any money you free up towards your debt repayment plan.”
Brian Walsh, CFP® at SoFi