Top Story
The Week in Review
• US stocks rose after the midterm election as investors considered it could impact the market. Historically, Wall Street likes when there is political gridlock in DC, such as when the White House and Congress are controlled by different parties.
• Markets experienced their biggest rally in two years as the October CPI came in below expectations. Prices rose 0.4% from September, and 7.7% year-over-year. In September, prices rose 8.2% on an annual basis. This trend has Wall Street hopeful that the Federal Reserve will look to slow its rate-hike campaign at next month’s meeting.
• Government bond yields plummeted in response to the inflation report. Both the benchmark US 10-Year Treasury and the US 2-Year treasury saw their rates fall by double digits. The US dollar also experienced its largest single-day decline since 2015, which boosts stocks given the exchange rate implications.
For more economic news and how it affects your money, visit the SoFi app.
Ready To Start Knocking Down Those Debts? Here Are 3 Strategies That Can Help You Get Out Of The Debt Faster.
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. Read on for more details and helpful tips!
This Week’s Top Stories
Cozy season is almost here. But, this year, cozying up might come at an extra cost, in the form of a higher-than-average energy bill.
Thanks to inflation, the Russia/Ukraine war, and severe weather in the U.S., experts expect energy bills to be higher than average this year. But, luckily, there are several strategies that you can implement now that will save you money once winter hits.
Read more >>
Airbnb (ABNB) announced plans to make its prices more transparent for guests while also reducing checkout tasks.
This announcement comes after the company received significant backlash due to hidden fees in its pricing model. For avid Airbnb-ers, there are also several more updates that you’ll want to know before booking your next trip.
Read more >>
If you have a FSA, the use-it-or-lose it deadline is approaching. Come December 31, you’ll be buying up a lot of bandages, heating pads, and sunscreen – unless you come up with a more useful way to spend those funds in the meantime. Anything you don’t spend goes back to your boss!
Over the past couple years, employees were allowed to carry over FSA balances, due to the COVID-19 pandemic. Congress hasn’t permitted that this year. In 2019, 44% of participants forfeited money.
Read more >>
Deep Dives from SoFi Learn
Here are 35 places you will be able to find great deals for Black Friday and Cyber Monday this year.
Ready, set…shop!
Read more >>
Cases of credit card fraud are skyrocketing. One of the best ways to fight back is to be aware of current schemes so you can protect yourself and your money.
These 33 credit card fraud statistics show how scammers pull off their digital cons.
Read more >>
With Twitter going private after Elon’s takeover, let’s review the pros and cons of delisting a company.
Going private can be an advantage for companies that want more control at the executive level, and no longer want their shares listed on a public exchange.
Read more >>