🥚 Why do eggs cost >$4? Some suspect fowl play

Saturday,
January 28, 2023

Top Story

The week in review

• A technical issue on the New York Stock Exchange caused trading to halt for dozens of tickers right out of the gate on Tuesday. Blue-chip names including Verizon (VZ), AT&T (T), Nike (NKE), and McDonald’s (MCD) were all impacted, but trading ultimately resumed shortly after the glitch.

• US stocks finished lower Wednesday as investors digested earnings from bellwether names like Microsoft (MSFT). Despite exceeding analyst expectations, the company provided lackluster guidance, raising concerns over how even the biggest companies will fare in the evolving high-rate, slow-growth environment.

• Still, earnings have trended positive so far. Of the roughly 20% of S&P 500 companies that have reported fourth-quarter earnings so far, nearly 70% posted stronger-than-expected results, according to FactSet.

• 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.

For more economic news, visit On the Money — SoFi’s one-stop-shop for news, trends, and tips!

By the end of January, you should receive tax documents from employers, brokerage firms, and others you did business with.

Waiting until the last minute to prepare for tax filing is never advisable. Taxes may not be as complicated for people with one employer, but for those who have side gigs or are self-employed, tax returns can take a while to fill out.

You should receive a Form W-2 by Jan. 31 or, with any mail delay, soon thereafter. The same deadline applies to certain 1099-MISC forms for independent contractors. Each financial institution that paid you at least $10 of interest during the year must send you a copy of the 1099-INT by Jan. 31 as well.

Whether your goal is to lower your taxes or just file them on time, the key is preparation. To answer your tax questions, we’ve compiled a selection of informational articles on such key tax topics as capital gains, retirement savings, stock options, refunds, and more.

This week’s top stories

Why do analysts say the housing market is at a turning point? Because homebuilders are becoming more confident.
Mortgage rates slipped last week, meaning more demand from would-be homebuyers. So, construction could finally get going, which will help bring down prices.
Read more >>

The price of eggs has gotten out of control – and industry insiders suspect foul play.
A letter filed with the FTC claims that collusion and price fixing in the egg industry is the real reason prices are up. Sure enough, profit at the biggest egg supplier has soared. Here’s the full story.
Read more >>

The seven big banks behind Zelle are launching a direct competitor to Apple Pay (AAPL).
This means you can expect the payment process to get smoother and easier. But with digital wallets on the rise, it’s more important than ever to protect yourself. Here’s how you can do that.
Read more >>

Deep dives from SoFi Learn

Will we see a “soft landing,” or a full-blown recession? A good old fashioned pros and cons list is very telling.
SoFi’s Head of Investment Strategy walks us through the undeniable truths that sit in the cons column.
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 >>

Leverage allows an investor to have a large amount of exposure at a low cost, but there are some risks to be aware of.
No matter which strategies for trading options you use, you may increase the leverage of your investment by using options.
Read more >>

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.

Diversification is not a guarantee of protection from loss. SoFi can’t guarantee future financial performance.

The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

Important: Bitcoin and other cryptocurrencies aren’t endorsed or guaranteed by any government, are volatile and involve a high degree of risk.

Third Party Trademarks: Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design), and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.

Tax Information: This newsletter provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

Apple, the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries and regions. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.

234 1st Street, San Francisco, CA 94105

Terms and Conditions Apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates listed above and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, years of professional experience, income, and a variety of other factors. Rates and Terms are subject to change at anytime without notice and are subject to state restrictions. SoFi refinance loans are private loans and do not have the same repayment options that the federal loan program offers, or may become available, such as Income Based Repayment or Income Contingent Repayment or PAYE. Licensed by the Department of Financial Protection and Innovation under the California Financing Law License No. 6054612. SoFi loans are originated by SoFi Lending Corp. or an affiliate, NMLS # 696891. (www.nmlsconsumeraccess.org)

✝︎ To check the rates and terms you qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

TLS 1.2 Encrypted

Equal Housing Lender