Top Story
Roku (ROKU) is finally producing a fully-branded smart TV.
In the past, Roku has traditionally integrated its software into other companies’ hardware. But, in spring 2023, this streaming giant plans to release its own TV. Here’s how that could change the way you watch shows and movies.
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Stocks slip as stronger-than-expected jobs data suggests a more hawkish Fed
• US stocks fell Thursday after the December ADP jobs report came in above expectations. The economy added 235,000 private jobs, easily exceeding analyst estimates. Meanwhile, jobless claims came in below what most economists had predicted, and continuing claims fell.
• The labor market continues to be robust, meaning the central bank will likely pursue more rate hikes in 2023. That puts pressure on stocks, and leads to selling.
• Overseas, investors remain uncertain as to China’s reopening following strict COVID-19 lockdowns. More production out of China could ease supply chain pressures and reduce inflation. But, if their consumer base starts spending more, inflation could rise.
What to Be on the Lookout for Today
• The December jobs report is due. This includes nonfarm payrolls, the unemployment rate, and average hourly earnings. Investors will be paying close attention to how the labor market is holding up amid the Fed’s rate-hike campaign.
• Also watch for the December ISM services index. In November, activity within the services sector grew for the 30th straight month.
• Transportation manufacturing corporation The Greenbrier Companies is set to report earnings. The firm makes freight cars and marine barges. Investors will look to their report for insight into the current state of the supply chain.
5 money-saving resolutions for the new year
It’s time once again to make a fresh start. Along with promising to eat better this year, many of us are also examining our personal finances. How can we manage our money better in the days ahead?
Here are five resolutions to consider:
1. Find a Savings Buddy.
Economizing can be easier when doing it with a supportive kindred spirit. If you’re choosing who to have coffee with, maybe find the person more willing to make coffee at home than spend $7 on a fancy cashew milk latte.2. Schedule Automatic Transfers.
When your paycheck hits your checking account, pay yourself first (yup, before you buy that new shower diffuser from TikTok). To help, SoFi offers the use of Vaults, through which you can automatically set aside a fixed amount on a regular cadence.3. Pay Off High-Interest Credit Cards.
Don’t let that interest rack up! Credit card interest rates are notoriously high, with rates averaging just over 19% in November of 2022. Create a plan to become debt-free for 2023 and prioritize paying off high-interest cards first.4. Find a Side Hustle.
If you have any free time at night or on the weekends, then you can freelance or work some other type of side hustle. Even renting a room on Airbnb could put hundreds or thousands of extra dollars in your account every month.5. Buy Generic.
Many generic products are the same as name-brand products without the fancy label. Ask yourself which products really require the name brand, and which could present you with a great savings opportunity.If you love these five goals and want 32 more, here’s a robust list of resolution ideas for 2023!
Today’s top stories
Home improvement, repairs, and maintenance can be a hammer to the thumb for homeowners. Take these 3 steps in 2023 to avoid the pain. It’s all about the emergency fund, monitoring, and maintaining. Read more >> “Google vs. Bing” is no longer just a meme. Microsoft (MSFT) has plans to incorporate viral AI chatbot ChatGPT into its Bing search engine. By doing so, Bing could realistically challenge Google’s (GOOGL) industry dominance and disrupt the internet as we know it. Read more >> Why an emergency fund should be your financial priority Life can be unpredictable, and financial setbacks can crop up at any time. Prepare yourself in advance to prevent derailing long-term financial goals. Read more >>Not-so-breaking news
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Bed Bath & Beyond (BBBY) is considering bankruptcy as its cash reserves run low. Executives say the retailer is having difficulty filling its shelves, while losing customers both in stores and online.
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The U.S. Justice Department defended the Biden Administration’s student loan debt forgiveness program this week in a brief filed with the Supreme Court. The plan, announced in August, remains on hold while the court hears cases challenging it. The DOJ argues these cases lack merit.
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Walgreens Boots Alliance (WBA) beat analyst expectations for earnings in its fiscal first-quarter but missed on revenue. The company offered upbeat guidance for the year as a whole, citing its acquisition of Summit Health.
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Adobe Analytics (ADBE) says online holiday sales grew 3.5% from last year. In total, ecommerce sales hit $211.7 billion, a new record for the holiday season. With discounts also at a record high, it appears shoppers were incentivized to spend.
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Meanwhile, ecommerce giant Amazon (AMZN) plans to cut over 18,000 jobs. CEO Andy Jassy says the planned layoffs were leaked by an employee, prompting a public statement.
Financial planner tip of the day
“Only 40% of Americans can pay for an unexpected $1,000 emergency expense (which means their emergency fund is effectively their credit cards). And that’s not the only reason an emergency fund is crucial—it can also keep you afloat if you suddenly lose your job or need to take unpaid time off work.”
Brian Walsh, CFP® at SoFi