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The Week in Review
• Market observers contend the protracted geopolitical tensions and sanctions that have resulted will be a drain on the global economy. Despite the ban on Russian fossil fuels, oil prices declined this week, while the price of gold and silver moved higher. Zooming out, the combination of potentially slowed economic growth and rising commodity prices seems to be weighing heavily on sentiment.
• Inflation remains at historic levels. The CPI increased to 7.9% in February year-over-year — the fastest rate observed since January 1982. The data shows gasoline and food are the biggest contributors to inflation, and there may be more inflationary pressures on the way. Russia invaded Ukraine in late February, so that didn’t factor much into the latest report. Meanwhile, in February, the core CPI that strips out food and fuel went up 6.4% year-over-year, matching its highest level since August 1982.
For more economic news and how it affects your money, visit the SoFi app.
Payment History and Your Credit Score: What You Need to Know
You might not feel like an occasional late payment on a credit card is a big deal, but it can impact your credit score negatively. In fact, payment history accounts for 35% of your FICO score (the scoring system for the credit bureau Experian).
The easiest way to raise your credit score? Pay your bills on time. Many loans and credit cards will allow you to set up autopay, which is a foolproof way to make sure you never miss a payment.
Track your credit score for free in the SoFi app, where the factors affecting your score are broken out to make them easier to understand.
This Week’s Top Stories
The fear-based moves in markets over the last few weeks have brought the phrase “curve inversion” back into our conversations. Yield curve inversions, much like spikes in oil prices, typically precede a recession.
SoFi’s Head of Investment Strategy explores what curve inversion is, what it signals about investor sentiment, and why it’s used as a forward-looking indicator.
Read more >>
Amazon’s (AMZN) board of directors approved a 20-for-1 stock split, marking the fourth such split since the company first went public in 1997. It’s the first since 1999, the height of the dot-com era.
Stock splits have been popular among Big Tech companies lately — with Apple (
AAPL), Tesla (
TSLA), and Google parent Alphabet (
GOOGL) all diluting share prices by way of a split in the past couple years. It means more investors will be able to afford shares, and it follows Amazon’s change to its employee compensation structure.
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Fast food promotions are getting a modern makeover: instead of a toy or other giveaway item, Shake Shack (SHAK) is offering Bitcoin (BTC) with your purchase, provided you use Block’s Cash Card.
Block CEO Jack Dorsey is an outspoken advocate for Bitcoin, comparing it to the internet in its infancy, and even suggesting it could help achieve world peace. Other fast-food chains like Burger King (QSR) and McDonald’s (MCD) have also experimented with blockchain technology promotions.
Read more >>
Deep Dives from SoFi Learn
Russia’s invasion of Ukraine may lead to attractive renewable energy investments due to pressure on the oil and gas market.
Amidst the oil and gas price swings, there are opportunities for investors looking to put their money to work in novel ways in the stock market. Some experts believe that the current conflict may cause governments and companies to shift away from a reliance on fossil fuels in the long term.
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Without savings, a financial shock — even minor — could set you back. And if it turns into debt, it can potentially have a lasting impact. That’s why it can be wise to make building an emergency fund one of your highest savings priorities.
Even if you’re currently living paycheck to paycheck, you may be able to slowly start building a buffer against emergency expenses.
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Most everyone has heard of the gender pay gap, but many don’t pay a lot of attention to the gender investment gap, and why the long game matters for women.
Women may be behind in the investing game, but trends show that they’re outpacing the market overall. There are important reasons for women to seek a long-term investment strategy.
Read more >>
