Tuesday,
January 31, 2023
Market recap
Dow Jones
33,717.09
-260.99 (-0.77%)
S&P 500
4,017.77
-52.79 (-1.30%)
Nasdaq
11,393.81
-227.90 (-1.96%)
Top Story
Amateur investors and first-time buyers are playing the corporate professionals that misjudged the market – and winning.
Institutional investors went on a spending spree during the housing boom. Now they are licking their wounds as they unload their holdings at a loss. This influx of homes being sold is beneficial for individuals looking to purchase a primary residence. Amateur real estate investors are making hefty profits as big institutional players exit these buy high, sell low transactions.
Stocks drop ahead of busy earnings week and Fed interest rate decision
• US stocks finished lower Monday as investors look ahead to the Fed’s interest rate decision and another busy week of earnings. The market is patiently awaiting what is expected to be a 25-basis-point hike by the Fed and potentially the last hike of this cycle.
• About 20% of the S&P 500 will report this week. All eyes will be on Big Tech, with companies like Apple (AAPL), Amazon (AMZN), Alphabet (GOOGL), and Meta Platforms (META) all turning in their report cards.
• The Dallas Fed Manufacturing Index returned better-than-expected numbers at -8.4, marking an improvement over the previous month’s -20. Any reading below 0 represents a contraction, suggesting factory activity is still in decline.
What to be on the lookout for today
• Investors will get insight on employment costs, specifically wages and benefits for the fourth quarter of 2022. In Q3, wages increased 1.3% while benefits increased by 1%.
• Electronic Arts (EA), ExxonMobil (XOM), and Snapchat-parent Snap Inc (SNAP) will report. Additionally, Pfizer (PFE) will keep us updated on all things COVID, including a potential link between its updated booster and increased stroke risk in older adults, currently being investigated by the CDC.
Are you thinking about putting your home on the market? Here’s five ways to boost your curb appeal during winter.
Depending on where you live, winter can present challenges when it comes to preparing for an open house. Here are some measures you can take to maximize curb appeal and leave a lasting impression.
1. Start at the front door. Regardless of the season, a fresh welcome mat and a charming wreath can go a long way in dazzling potential buyers before they ever step inside.
2. Check the gutters. During the winter months, gutters can take a beating and overstuffed gutters aren’t a good look. Make sure you clean out snow, leaves, and other debris that tends to build up during bad weather.
3. Find plants that work in the winter. There are several plants that thrive in colder weather. Depending on your location, mums and holly are two popular options for adding greenery or a pop of color to the front door area. Even topiaries made of fake trees or grapevine balls can make your porch more appealing in the winter.
4. Clean the walkways. If you’ve had snow or other bad weather, make sure the walkways to and from the house are clean and clear.
5. Turn on the lights. You can use outdoor lighting to not only make your home more attractive, but also safer. Consider adding additional lighting and even lining a pathway with lights for both safety and aesthetics.
Before putting your house on the market, it can be helpful to look up the current housing market trends by city. This can show you not only what’s selling, but perhaps why it’s selling. You might be inspired by what other sellers are doing to improve their curb appeal.
Today’s top stories
This demographic is single-handedly keeping the business travel sector afloat. Business travel was one of the industries that was hit hardest by the pandemic. While travel is still down among white-collar employees, another group of workers is picking up the slack. Read more >> Hosting a party for the Eagles vs. Chiefs game? Stick to these classic snacks that are down in price since last year. With food prices up 11.8% over the past year, it may feel daunting to throw a party that is so dependent on snacks. But these crowd-pleasing bites are actually more affordable than they were last year. Here’s how to throw your game day banger on a budget. Read more >> Well-paying remote jobs with flexible schedules sound too good to be true. But work-from-home roles are available in almost every industry. Introverts can find a wide variety of remote jobs with flexible schedules. Whether you prefer a second gig or a full-time job, you’ll find great ideas on our list. Read more >>Not-so-breaking news
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The net worth of one of the richest men in the world, Adani Group founder Gautam Adani, fell by $27.9 billion this month. The Indian conglomerate has faced accusations of stock manipulation and accounting fraud by short seller firm Hindenburg.
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TikTok’s CEO, Shou Zi Chew, will testify before a House panel regarding the social media app’s security and privacy practices. The popular app is currently banned on all government devices.
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Ford (F) will cut the price of its electric Mustang Mach-E by as much as $5,900. The legacy automaker is following Tesla’s (TSLA) lead in hoping that a price reduction will increase demand.
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Automakers Renault (RNLSY) and Nissan (NSANY) are restructuring a deal that has been in place since 1999. The restructuring will reduce Renault’s stake in Nissan from 43% to 15%.
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Dutch health technology firm Philips joins a trend across the tech industry by announcing it will lay off 6,000 employees between now and 2025. The company hopes that this move will improve profitability, patient safety, and supply chain reliability.
Financial planner tip of the day
"When building a personal budget, it can be helpful for individuals to get a good grip on the money that’s coming in and going out. It’s a common mistake to set budget categories with aspirational numbers pulled out of thin air, only to have a budget fall apart later on when faced with reality."
Brian Walsh, CFP® at SoFi