Thursday,
January 12, 2023
Market recap
Dow Jones
33,973.01
+268.91 (+0.80%)
S&P 500
3,969.61
+50.36 (+1.28%)
Nasdaq
10,931.67
+189.04 (+1.76%)
Top Story
Planning a Disney (DIS) vacation? Recent changes at Disney parks could make your trip a little more magical â or at least cost a little less money.
After a difficult year, Disney is offering perks like cheaper tickets, free photos, and free parking to lure jaded fans back to its parks. Read on to learn the full extent of these benefits.
Read more >>
Stocks rise, Nasdaq on a 4-day winning streak as investors bet inflation has leveled off
• US stocks rose Wednesday as investors expressed confidence the worst of inflation is in the rearview. Traders are betting that the Federal Reserve will adopt a less aggressive mindset regarding its rate hikes in 2023, given inflation appears to have slowed.
• International standard Brent crude saw its price per barrel rise. Oil prices have been increasing this week under the expectation that Chinaâs post-COVID reopening will boost demand. Copper prices also increased.
• The MBA says weekly mortgage applications increased last week. Demand for mortgages fell noticeably at the end of December. As mortgage rates have risen, the number of applications for new mortgages and refinancing have both plummeted.
What to be on the lookout for today
• The market will be paying close attention as the latest inflation print is due. The CPI showed prices rising 7.1% year-over-year in November, but just 0.1% from October, leading to some optimism that inflation may have peaked.
• Weekly jobless claims will be published by the Labor Department. Last week, initial claims fell to their lowest level since September. Also watch for Decemberâs federal budget.
• Fiber-optic cable manufacturer RF Industries (RFIL) is scheduled to publish its latest quarterly data. Last month, the company offered upbeat guidance regarding its full-year sales figures.
Automate your savings to combat the intentional-behavior gap.
When you think back on New Yearsâ Resolutions of years past, how often are you still living your January values by September?
When people say they believe in one thing and then do another, itâs called the value-action gap or intentional-behavior gap.
When it comes to saving money, lots of things can cause an intentional-behavior gap: an unexpected night out with friends, a shopping splurge, or an unexpected car repair.
Setting up automated savings takes the thought out of saving money, so that instead of having to overcome temptation and make the responsible choice again and again, some of the decision-making is reduced or eliminated.
Automating savings also reduces the amount of time spent each month on tasks like paying bills, combats the urge to procrastinate on taking saving action, and minimizes the loss felt when moving money into a savings account.
Here are a few ways you might automate savings this year:
• Set up Direct Deposit
• Earmark money for specific goals â and take advantage of tools/features like SoFi Vaults
• Choose a high-interest account
• Pay bills automatically
• Take advantage of employer programs for 401(k) contributions
• Set up a dashboard for monitoring financial insights (i.e. % money saved each week)
If youâre hoping to check off multiple boxes and live your values in one swift action, consider switching to SoFiâs Checking & Saving account (currently up to 3.75% APY), immediately setting up Direct Deposit, and allocating a specific amount to be saved in Vaults each month.
Todayâs top stories
Game over? Inflation has hurt video game demand. Hereâs why â and what it means for gamers going into the new year. Spending was down across mobile, PC, and console games in 2022. Rising prices have certainly played a role, but they donât tell the whole story. Read more >> Want a raise? Act now. This strong labor market wonât last forever. New data shows that job hopping might actually be the best way to get a raise. Hereâs how to go about it. Read more >> The check engine light came on in a big part of the US economy last Friday. In this weekâs column, SoFiâs Head of Investment Strategy discusses the pros and cons of where weâre at. Services inflation coming down may benefit consumers in certain areas, but hurt the business providing said services as revenue falls. Read more >>Not-So-Breaking News
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The White House has ordered the DOT to investigate after an outage threw the nationâs airlines into chaos yesterday. The air travel industry has faced increasing governmental scrutiny in the wake of Southwest Airlinesâ (LUV) holiday meltdown.
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EV giant Tesla (TSLA) says it will invest over $770 million to expand one of its factories in Texas. CEO Elon Musk previously called the Austin facility, at which the company intends to make battery cells, a âgigantic money furnace.â
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Former mortgage leader Wells Fargo (WFC) will scale back its involvement in the real estate market. The companyâs new goal will reportedly be to focus on borrowers in minority communities, while servicing existing bank and wealth management customers.
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Stephanie McMahon stepped down as co-CEO of World Wrestling Entertainment (WWE), while her father Vince McMahon returned as chairman of the company. The elder McMahon took a leave of absence in May amid allegations of sexual misconduct.
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Analysts argue Netflix (NFLX) could face a challenging quarter, with Barclaysâ (BCS) Kannan Venkateshwar stating the streaming giant is on track to add 2.7 million subscribers â well short of the 4.5 million forecast. Venkateshwar went on to say viewership and app downloads are down.
Financial planner tip of the day
"One of the ways that can help pay off debt expeditiously is to focus on only one debt at a time. If you spread your money out over all of your debt payments, you might not see progress as fast as you want. By focusing on one goal at a time, you may see success sooner â and that motivation could help you keep your debt payoff plan on track."
Brian Walsh, CFPÂŽ at SoFi