Thursday,
February 16, 2023
Market recap
Dow Jones
34,128.05
+38.78 (0.11%)
S&P 500
4,147.60
+11.47 (0.28%)
Nasdaq
12,070.59
+110.45 (0.92%)
Top Story
Airbnb (ABNB) expects “increasing downward pressure” for rates this year. In tech bro speak, that might translate to “cheaper vacations.”
Airbnb and its hosts had a lucrative 2022. But, thanks to new discounting tools and transparency features, 2023 might be a better year for guests.
US stocks finished higher Wednesday as Wall Street digested the previous day’s inflation numbers and the latest retail sales report.
• After being hit with CPI numbers that signaled the potential for stickier-than-expected inflation, investors saw an unexpected 3% surge in month-over-month retail sales. The increase was well above analyst predictions of 1.9% and marked the largest rise since March 2021. The jump in sales also suggests consumer spending remains strong, which could pose serious challenges for tackling inflation.
• On the earnings front, Roblox (RBLX) beat analyst expectations on both the top and bottom line, posting a smaller loss than anticipated and revenue just shy of $900 million. The company also reported a 19% increase in year-over-year average daily active users, with a new total of 58.8 million.
• The White House struck a deal with Tesla (TSLA) to open 7,500 of its electric vehicle charging stations to cars made by other manufacturers by the end of 2024. The deal comes as part of the Biden administration's efforts to see at least 500,000 electric vehicle chargers on US roads by 2030.
What to be on the lookout for today
• Investors will gain insight into the real estate industry with reports for housing starts and building permits. In December, building permits fell 1% from November to 1.34 million. Additionally, investors can expect speeches from two members of the Federal Reserve.
• The real estate-related news will continue as WeWork (WE) reports its latest results. After years of turmoil, preliminary numbers show that WeWork may surpass its fourth quarter guidance. Elsewhere, DoorDash (DASH) will offer an update on the food delivery industry.
Achieving your financial goals in life isn’t just about how much you earn; it’s also about your money mindset.
Your money mindset is the attitude and beliefs that form your relationship with your personal finances, and it can have a major impact on your financial habits.
Since most people pick up unhealthy financial habits along with healthy ones, it’s crucial to recognize the financial beliefs that aren’t serving you.
By changing your money mindset you can take full control of your finances, break bad spending habits, and reach your financial goals. Here are some helpful tips on improving your money mindset.
Today’s top stories
Major healthcare insurers UnitedHealth (UNH) and VitalityHealth now offer rewards for healthy customers. Under UnitedHealth’s new program, you can earn up to $1,000 for hitting 5,000 daily steps. Read on to learn more about why this program is important for the industry — and how it works. Read more >> With all eyes on the economy, there are seemingly endless new ways to measure inflation. SoFi’s Head of Investment Strategy explains why, despite which lens you look through, the key to future growth is the consumer. Read more >> Most of us would like to pay fewer taxes, and in some cases, itemizing your deductions can help you do just that. Learn about the pros and cons and whether itemizing is the right option for you this tax season. Read more >>Not-So-Breaking News
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Chipotle (CMG) is launching a new brand called Farmesa Fresh Eatery. The spinoff will serve the chain’s popular customizable bowls, with a wider selection of ingredients. It will open in Santa Monica later this month.
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Tesla (TSLA) plans to make 7,500 of its charging stations available to other electric vehicles by the end of 2024. This is part of a push from the US government to get 500,000 public EV charging stations on US roads by 2030.
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Ford (F) paused production and shipments of its electric Ford F-150 Lightning. The legacy automaker cited a potential battery issue but declined to offer more details.
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Louis Vuitton (LVMUY) has handed the keys to rapper and music producer Pharrell Williams. Following the death of former creative head Virgil Abloh, the high fashion brand named Williams as its next menswear creative director.
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The US government has already issued almost 8 million tax refund checks. The average check size so far is $1,963, down $238 from last year.
Financial planner tip of the day
“Late payments can have a large effect on your credit score for a long period of time. If there are any late payments in your history, you may be able to minimize their impact by creating a record of on-time payments in the future. Setting up autopay is one way to make sure payments are made regularly and on time.”
Brian Walsh, CFP® at SoFi