Wednesday,
April 19, 2023
Market recap
Dow Jones
33,976.63
-10.55 (-0.03%)
S&P 500
4,154.86
+3.54 (+0.09%)
Nasdaq
12,153.41
-4.31 (-0.04%)
Top Story
Companies are trying to unlock the secret to happier employees by offering extra personal days for mental health.
Companies are revolutionizing the workplace by prioritizing mental health support for employees. Here's what you need to knowâŚ
US stocks finished lower Tuesday after another eventful day of first-quarter results.
• Goldman Sachs (GS) reported earnings of $8.79 per share, beating estimates, but missed on revenue of $12.22 billion. The decline in revenue was attributed to weaker-than-expected bond trading, asset and wealth management results, and a hit from consumer loans.
• Johnson & Johnson (JNJ) beat on both the top and bottom lines with $24.75 billion in revenue and per share earnings of $2.68. The company also significantly raised its full-year guidance due to strong growth across all three of its respective business sectors: consumer health, pharmaceuticals, and medical devices.
• Building permits in the US sank 8.8% to a seasonally adjusted 1.41 million in March. As a useful indicator of housing demand, the latest release suggests high interest rates are weighing on homebuyers.
What to be on the lookout for today
• Investors will get an update to the 30-year mortgage rate and the United States crude oil inventories. After five-straight months of declines, last weekâs average mortgage rate was 6.3%.
• Bed Bath & Beyond (BBBY), Morgan Stanley (MS), and US Bancorp (USB) will all report their first-quarter results. As Bed Bath & Beyond struggles to avoid bankruptcy, Wall Street will keep a close eye on the companyâs evolving situation.
How to budget for home repairs: The square foot rule
Yesterday we explained how the 1% rule can help homeowners budget for maintenance and repair costs. Today we offer an alternative method for larger homes.
The square foot rule recommends saving $1 for every square foot of livable space in your home. So a 2,500 square-foot house would need an annual repair budget of $2,500, or $208 per month.
The square-foot budgeting standard might be right for you if your home is newer and well maintained. With fewer big-ticket breakdowns on the horizon, your budget will mostly go toward continued maintenance.
If youâre still saving up when a home emergency rears its head, you have options. A personal loan can cover your repairs at a low fixed interest rate. In fact, home repairs and renovations are one of the most common uses of personal loans.
Come back tomorrow for the final installment of our series on budgeting for home repairs.
Recommended reading: Ways to Keep Inflation from Blowing Your Home Reno Budget
Todayâs top stories
Even though itâs just $1, Amazonâs (AMZN) new fee could cause a ripple effect through the industry. The Everything Store is going to start charging you to return items through UPS (UPS). Hereâs how this could change online shopping⌠Read more >> By 2030, the majority of your outfits might be made from manufacturing processes that use microorganisms. Lululemon (LULU) and Macyâs (M) are leading the charge to try and meet sustainability goals for 2030. Hereâs what theyâre working on⌠Read more >> The master bathroom, aka primary bathroom, can be a self-care sanctuary to ooh and aah over. Remodeling a master bathroom can provide a spa like sanctuary while adding value to your home. Here are master bathroom remodel ideas and ways to fund them. Read more >>Not-so-breaking news
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United Airlines (UAL) is adding 66 weekly flights from the US to Australia and New Zealand. This decision was made in anticipation of a strong summer for international travel.
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Meta Platforms (META) agreed to a $725 million settlement claiming it improperly used Facebook usersâ data. If you used Facebook from May 24th, 2007 to December 22, 2022, you can file a claim for part of this settlement.
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Elon Musk wants to start an AI initiative called TruthGPT, citing concerns that existing AI models are being trained to be âpolitically correctâ. The tech CEO also signed a letter urging the industry to pause advanced AI research.
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Apple (AAPL) opened its first store in Mumbai and plans to open another in Delhi. The iPhone maker is ramping up its efforts in India in hopes that it will be the next big growth market.
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Davidâs Bridal (OAK-A) filed for bankruptcy for the second time in 5 years. The formal apparel retailer will continue operations while it looks to sell key assets.
Financial planner tip of the day
"While buying low and selling high is a good strategy in theory, timing the market does not work in practice. Rather than trying, focus on recurring contributions that utilize dollar cost averaging."
Brian Walsh, CFPÂŽ at SoFi