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Data Privacy Day is coming up on January 28. What’s being done to protect your consumer data?
Organizations collect a mind-numbing 4.2 zettabytes of data each year. We’ll take a look at the added challenges and regulations associated with organizing and protecting this sensitive information.
US stocks move higher, driven by Tesla earnings and upbeat economic data
• US stocks finished higher Thursday after a better-than-expected earnings report showing record revenue from Tesla (TSLA). CEO Elon Musk added to the positive sentiment by suggesting the electric car maker could produce two million cars by the end of 2023.
• On the economic front, investors reacted positively to an upbeat US GDP report showing the figure rising 2.9% during the fourth quarter, which was more than expected. Meanwhile, durable goods orders, which refer to manufactured goods that last at least three years, saw their sharpest gain since July of 2020, coming in well above analyst expectations.
What to be on the lookout for today
• Investors will get a look at how US consumers are faring, with December releases for personal income and spending. In November, personal income rose 0.4% from October and personal spending essentially remained flat, increasing by only 0.1%.
• On the earnings front some big names are scheduled to report. American Express (AXP) will build off recent reports from competitors Visa (V) and Mastercard (MA), while Chevron (CVX) reflects on the oil industry’s highly-profitable 2022.
From fraud protection to data security, we’ll make sure your money is safe wherever you are.
Saturday is Data Privacy Day. Each year, it serves as a good reminder to “own your privacy” and protect yourself — both online and offline.
At SoFi, your privacy and security is our top concern every day, which is why we have safeguards in place to protect your data. Here are a few ways you can benefit and further protect yourself:
1. Check out SoFi Checking & Savings. Keeping your account safe is our top priority. We act fast when fraud is detected and ensure every member is protected with chip card technology, two-factor authentication, and suspicious activity monitoring. And feel confident knowing that once your money arrives at our partner banks, it is FDIC insured up to $250,000 per account (joint account holders have $500,000 in total coverage).
2. Consider SoFi’s insurance offerings. Did you know we offer life, auto, homeowners, and renters insurance? We’ve teamed up with some of the best insurance companies in the industry — bringing you fast, easy, and reliable insurance.
3. Brush up on common money scam tactics used by hackers and con artists. SoFi Learn is a robust educational resource for understanding these types of behaviors — keep checking back for future updates on data privacy!
Today’s top stories
The goal of a diet has traditionally centered around losing weight and improving your health… until now. The newest dietary trend prioritizes the health of the planet. We’ll share 3 new diets that people are following to minimize their carbon footprints. Read more >> Friday Funding: This startup took off during the pandemic by helping companies build out remote workforces and now says it wants to become the Apple (AAPL) of HR. Deel was founded in 2019 and has since grown to $295 million in annual recurring revenue. It’s valued at $12 billion. Read more >> Do you feel accomplished and fulfilled by your work? We have a look at the top 22 most rewarding jobs in America based on salary and job satisfaction. Read more >>Not-so-breaking news
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Southwest Airlines (LUV) reported the numbers behind its holiday travel meltdown, which included 17,000 canceled flights and an $800 million hit to the airline’s pre-tax revenue. Meanwhile, competitor American Airlines (AAL) beat profit estimates in the fourth quarter, maintaining its revenue was up 17% from the same time period in 2019.
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Cable giant Comcast (CMCSA) posted higher fourth-quarter revenue, with its broadband and wireless divisions providing a boost. The company’s streaming platform Peacock reached 20 million subscribers, but its widening losses weighed on NBC Universal’s earnings.
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According to an IDC (BX) report, smartphone shipments plummeted by 18% year-over-year in the fourth quarter. That’s the most significant decline ever recorded within a single quarter. Slightly more than 1.2 billion units shipped in 2022, the lowest total dating back to 2013.
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Energy giant Chevron (CVX) is launching a $75 billion stock buyback program, effective April 1. The company will also hike its dividend from $1.42 to $1.51 per share, payable on March 10.
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Tesla (TSLA) beat Wall Street’s estimates for earnings and posted record revenue during the final three months of 2022. That said, the EV leader’s automotive gross margins came in at 25.9%, the lowest such figure over its last five quarters.
Financial planner tip of the day
“It’s a good idea to check your pay stubs periodically to ensure that the deductions being taken out are accurate and align with your financial goals. To make sure the appropriate amount of taxes are being withheld from each paycheck, you may also want to revisit your W-4 annually and make any adjustments as your circumstances change.”
Brian Walsh, CFP® at SoFi