Thursday,
January 27, 2022
Market recap
Dow Jones
34,168.68
-129.05 (-0.38%)
S&P 500
4,349.92
-6.53 (-0.15%)
Nasdaq
13,542.12
+2.82 (+0.02%)
Top Story
US Stocks Finish Mixed For The Day As Fed Commentary Fails To Calm Market
• US stocks were mixed on Wednesday continuing a volatile week of trading on Wall Street. The Dow Jones Industrial Average gave back what was a 500 point gain to finish in the red while the Nasdaq Composite posted a modest increase. Wednesday was par for the course in a week that has been defined by wild up and down swings.
• The Fed provided the market with a clear indication that interest rates will soon be increased, possibly as soon as March. The central bank hasn’t hiked rates since December 2018 but analysts say this shows the Fed is serious about combating rising inflation.
What to Be on the Lookout for Today
• A handful of important economic data points are due. Initial and continuing jobless claims are released. Initial claims jumped last week by 55,000 to 286,000 — a three-month high. Also, be on the lookout for the seasonally adjusted gross domestic product for the final quarter of last year, which tabulates the US economy’s output. December’s pending home sales index is also due.
• Tech giant Apple (AAPL) reports quarterly earnings. The company has seen its stock decline as tech investors sell shares ahead of the coming Federal Reserve rate hikes. Still, some predict Apple will post a big increase to its top line with fourth-quarter revenue growth estimated to be around $118 billion.
Does Everyone Need an Estate Plan?
The short answer is, yes, estate planning can be a smart move for everyone.
Though it’s not much fun to think about what will happen to your loved ones after you are gone, doing some estate planning early on, and readjusting it as needed throughout your lifetime, can help you prepare for the future and protect the people you care about.
Watch the video below to learn what estate planning is all about and what you can do to get started.
A Few Headlines That Should Be on Your Radar
From Zero to Fear-o. If the Fed is the nest, it’s telling us we need to fly off for our own good. This week, see what SoFi’s Head of Investment Strategy has to say about the great tightening. Read more >> Mattel is welcoming Elsa from Frozen and Cinderella back into its toy lineup after winning back the Disney license. Mattel (MAT) lost $440 million in revenue when it lost the Disney (DIS) license to Hasbro (HAS) in 2016. New leadership revived the Barbie brand and focused on mending partnerships with movie studios, all while remaining committed to winning back Disney. Read more >> Auto loans are giving banks a boost at a time when lending activity is generally down, although that could start to change. Analysts say consumers had a lot of cash on hand last year so they generally took out fewer loans than usual. With that said, supply-chain constraints pushed up prices, including on used cars, which increased loan amounts. New cars hitting the market in the coming months could alter the equation, however. Read more >> Contrary to what many people assume, you don’t have to be old, rich, or have children to benefit from making a financial plan for after you are gone. An estate plan can be beneficial no matter what your age, income, assets, or family status. Here are some key reasons why you may want to consider estate planning. Read more >>Not-So-Breaking News
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A European Union court is overturning a $1.2 billion antitrust fine that was handed out to US chip maker Intel (INTC) in 2009. The court had determined Intel abused its dominant market position between 2002 and 2007, but now says a rebate scheme wasn't properly scrutinized.
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The first-ever energy drink from Starbucks (SBUX) is now available at grocery stores and some other retailers. It's called Starbucks Baya Energy and comes in flavors such as pineapple passionfruit and mango guava, containing caffeine and Vitamin C.
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European customers will soon be able to use a "buy now, pay later" app from Santander (SAN), as these types of programs surge in popularity. The bank says its app carries more prestige and security than others offered by rivals like Afterpay (AFTPY) and Klarna.
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Boeing continues to face production problems and has now posted annual losses for three consecutive years. Most recently, the aerospace company hasn't been able to deliver its 787 Dreamliner for most of the past 15 months.
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A financial technology startup that's backed by Walmart (WMT) is looking to build an all-inclusive money-management app. Acquiring two new companies to that end, this entity will assume the name ONE.
Financial Planner Tip of the Day
“Life insurance isn’t necessarily a must-have for everyone. But if you have dependents or debt—or think you might someday—you may want to take a closer look at whether life insurance could be a financial tool to help protect your loved ones and your legacy.”
Brian Walsh, CFP® at SoFi