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The Week in Review
• The fear of rising rates outweighed robust earnings reports from a handful of big companies. The US 10-year Treasury yield surpassed 1.9%, which marks the highest level since December 2019. Although Bank of America and Morgan Stanley announced earnings that surprised on the upside, investors were more focused on how rising bond yields are weighing on equities.
• Jobless claims for the week ended January 15 came in at 286,000. This figure was higher than economist estimates, representing the highest level since October.
• On the economic front, a forward-looking gauge of the US economy rose in December. The Conference Board's Leading Economic Index increased by 0.8% after a 0.7% rise in November. Although this wasn't a blockbuster showing, it does highlight that the economy is expanding, albeit at a slow clip.
For more economic news and how it affects your money, visit the SoFi app.
When Will You Pay Off Your Student Loans?
Making payments on your student loans can seem endless. And with high interest rates, the day you finally pay off your debt might be farther away than you think. Use this calculator to get an idea of when your loan payoff date will be — and ways to make that date not so far away afterall.
This Week’s Top Stories
Wash, rinse, repeat.
Since the market bottom on March 23, 2020, Nasdaq dip buyers have swept in well above the 200-day moving average level and succeeded in making the index look invincibly buoyant. This year is different. In this week’s column, see what SoFi’s Head of Investment Strategy has to say about the market shakedown.
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Streaming giant Netflix is raising subscription prices for its US and Canada markets, distancing itself from competitors.
After Netflix announced the pricing increase late last week, shares initially jumped 1%. Still, analysts have been down on the stock recently. The stock's 2021 gains lagged behind the Nasdaq Composite Index and S&P 500, underscoring diminished optimism among investors.
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Inflation means rising food prices at the grocery store, with big food brands likely to feel the impact along with shoppers.
Analysts say raw materials companies may be able to better navigate the situation because they rely less on packaging, which can impact the bottom line. They are also less prone to supply-chain shocks since they can make bulk shipments. Advisors also note a number of cost-cutting strategies shoppers can keep in mind while at the grocery store.
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Deep Dives from SoFi Learn
Renting vs. Buying: inflation’s impact on the decision
Inflation puts more pressure on renters as that expense soars to painful heights, while the decision to buy real estate may take on a new sheen.
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There are different types of economic indicators, and understanding how they work can make it easier to interpret them.
An economic indicator is a statistic or piece of data that offers insight into an economy. Analysts use economic indicators to gauge where an economic system is in the present moment, and where it might head next.
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There’s no one simple formula to determine whether or not going back to school is worth the cost, but these questions may help you make your own judgment.
When thinking of going back to school it’s important to consider your career goals, past career experiences and what you hope to gain out of more education. Think of how the degree or certificate may improve career mobility or increase your earning potential. Then factor in how much the program will cost and how you’ll pay for the costs.
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