Thursday,
March 16, 2023
Market recap
Dow Jones
31,874.57
-280.83 (-0.87%)
S&P 500
3,891.93
-27.36 (-0.70%)
Nasdaq
11,434.05
+5.90 (+0.05%)
Top Story
Rent prices have eased over the past few months, but still remain a cost burden for many renters across the country.
We’ll look at the factors at play, and one metric you can use to determine whether you’re still overpaying.
US stocks were mixed Wednesday as news overseas impacted the sentiment on Wall Street.
• Credit Suisse (CS) shares hit an all-time low after announcing “material weaknesses” in its financial reporting processes for the past two years. The Swiss bank’s largest investor, Saudi National Bank, said it would not provide the company with any further financial assistance.
• Retail sales in the US saw a 0.4% month-over-month decline in February. This was slightly below market expectations of a 0.3% decline and significantly lower than January’s 3.2% increase.
• The producer price index, which measures inflation at the wholesale level, fell. The metric declined 0.1% in the month of February, compared to the 0.3% increase projected by analysts.
What to be on the lookout for today
• Building permits, jobless claims, housing starts, and monthly import and export prices will be released. Investors will look for signs of decreasing inflation across these reports, as these metrics typically influence the Fed’s interest rate decisions.
• Dollar General (DG) will expand on its preliminary earnings report, which showed earnings just short of expectations. Other potentially struggling companies will report as well. FedEx (FDX) will likely discuss an impending strike from its workforce of pilots, and Blue Apron (APRN) may expand on its plan to avoid being delisted from the NYSE.
Does refinancing your student loans hurt your credit score?
If you can secure better terms for your student loan through refinancing, you can save money over the life of your loan. But does refinancing student loans hurt your credit score?
While refinancing may cause a small temporary dip in your credit score, your credit score will likely improve in the long term if it helps make your repayments more manageable.
Here’s what to know about how refinancing student loans may affect your credit and how to decide if student loan refinancing is the right choice for you.
Today’s top stories
For some remote workers, loneliness is the price of more job freedom and flexibility. Working virtually can stoke feelings of isolation and make it more difficult to connect with colleagues. We have tips to help you combat those less-than-desirable effects of remote work. Read more >> Last week’s events involving Silicon Valley Bank serve as a reminder of how reactive the markets can be. SoFi’s Head of Investment Strategy shares her take on current market conditions and what investors might consider as we await the Fed’s next rate announcement in March. Read more >> It’s not uncommon in a seller’s market to put an offer on a home only to be outdone by a competing offer. Here are 9 tactics that could help give you the upper hand and better your odds of submitting a winning bid. Read more >>Not-so-breaking news
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Verizon (VZ) will give away a free year of Netflix (NFLX) to customers, but it comes with a catch. To qualify, you must sign up for an annual subscription with one of Verizon’s “+play” partners, including AMC+ (AMC), Paramount+ (PARA), and the Peloton App (PTON).
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Kraft Heinz (KHC) is making Lunchables available to school lunch programs across the country. The food conglomerate has tweaked the Lunchables recipe to adhere to federal guidelines.
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Amazon (AMZN) has failed to do for grocery shopping what it did for book-buying. In the six years since the ecommerce leader acquired Whole Foods, it has made few notable updates to the brand or industry.
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Samsung Electronics (SSNLF) is planning to build the world’s largest semiconductor factory in South Korea. The factory should be completed by 2042 and will cost approximately $228 billion.
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Tyson Foods (TSN) is laying off 1,700 workers and closing two chicken factories. The processing giant hopes to optimize operations and profitability at its remaining plants.
Financial planner tip of the day
“When shopping for refinancing rates, pay close attention to loan terms, which can vary greatly depending on the lender. The longer the loan term, the lower the monthly payments will be, but that means more interest will be paid over the life of the loan. Conversely, a shorter loan term may mean higher monthly payments, but then less is paid in interest over the life of the loan.”
Brian Walsh, CFP® at SoFi