Friday,
February 10, 2023
Market recap
Dow Jones
33,699.88
-249.13 (-0.73%)
S&P 500
4,081.50
-36.36 (-0.88%)
Nasdaq
11,789.58
-120.94 (-1.02%)
Top Story
Flight delays and cancellations are on the rise. Both passengers and legislators have had enough.
Two senators have proposed the Airline Passengers’ Bill of Rights to improve the experience of air travel and provide consumer protections to airline passengers. De-incentivizing airlines from overbooking flights is one goal. Here are the other amendments.
US stocks finished lower Thursday after an eventful day of corporate earnings and new unemployment numbers
• Hilton Worldwide (HLT) beat market estimates with earnings per share of $1.59 and revenue of $2.44 billion. This marked the fourth quarter in a row in which the hotel empire has surpassed earnings per share consensus.
• PepsiCo (PEP) also exceeded analyst expectations, largely fueled by its higher prices despite a 2% decline in overall volume. The food and beverage giant still projects 8% growth for its earnings per share in 2023 and even announced a 10% increase to its annual dividend.
• On the economic front, the number of Americans filing for unemployment benefits in the week ending February 4th rose to 196,000 compared to the 190,000 expectation. While the figure is the highest since early January, it still suggests a tight labor market, with the 4-week average at its lowest level since last April.
What to be on the lookout for today
• Government officials will speak on the US budget deficit during the monthly budget statement. In December, the budget deficit nearly quadrupled year-over-year to $85 billion.
• Investors can expect a report from the multinational health information technology company Iqvia (IQV), offering a glance at how its business fared in 2023. The clinical testing company is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results.
A harsh truth is that not many people know how to spend money wisely.
It’s not a skill you’re taught in school, and many families don’t feel comfortable discussing money openly. Which means many of us are in the dark when it comes to understanding how to budget and not overspend.
It’s not just about how much you make. Being wise with your money means being thoughtful and accountable, and helping it go further to get what you want.
When you start learning how to spend money correctly, you can get on top of your budget and your financial life. That’s a great feeling of accomplishment and independence. Plus, it sets you up for good money habits for years to come.
Now, read on to learn 10 ideas for how to spend your money wisely.
Today’s top stories
They say love doesn’t cost a thing. But this year, it’ll cost Americans around $26 billion. This Valentine’s Day report breaks down how much Americans plan to spend and what they plan to spend it on. Read more >> Auto insurance costs are up 14% since last year. But it’s not too late to reduce the cost of your policy. On average, drivers are now spending almost 3% of their income on car insurance. Here are some strategies to help you pay less. Read more >> It’s game on, this Sunday! And Super Bowl LVII may deliver more than just bragging rights. According to some, the winner could predict the future of the stock market. We’ll take a look at the Super Bowl Indicator and its relationship to stocks. Read more >>Not-so-breaking news
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Netflix’s (NFLX) password sharing crackdown is now live in Canada, New Zealand, Portugal, and Spain. To add a sub account in those countries, the streaming giant now charges between 25% and 43% of a Standard plan price.
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CVS (CVS) officially announced plans for its $10.6 billion acquisition of primary care provider Oak Street Health (OSH). This will position CVS as a provider of physician services, particularly for those on Medicare.
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PepsiCo (PEP) beat analyst expectations for both earnings and revenue. The soda and snack giant increased its prices, which helped offset the cost of inflation.
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Recently-reappointed Disney (DIS) CEO Bob Iger stated he plans to stay for two years. For Iger, helping Disney+ turn a profit and lining up a successor are his main priorities.
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Lucid Group (LCID) became the latest electric vehicle maker to offer a discount on its cars, joining the likes of Tesla (TSLA) and Ford (F). The firm will offer a $7,500 credit on select luxury models.
Financial planner tip of the day
“It can be incredibly tempting to use a tax refund or a work bonus to buy something fabulous. And there’s nothing wrong with an occasional splurge. But you may also want to consider using that money to pay down a high-interest credit card, make an extra payment on a loan, or start (or add to) a high-yield savings vehicle or other investment.”
Brian Walsh, CFP® at SoFi