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Learn two ways to generate steady income during your retirement.
Americans today rely more on private savings and less on pensions when it comes to funding their golden years. Hereās why consistent retirement paychecks may soon become a thing of the past.
US stocks finished higher Friday to close out the best monthly gain for the Dow since January
• Intel (INTC) reported its largest quarterly loss in company history with a 133% reduction in earnings, losing $0.04 per share. The figure was actually better than the $0.15 per share loss analysts expected, and revenue was also slightly higher than predicted at $11.7 billion. But the company forecasted another $0.04 per share loss for the second quarter.
• Amazon (AMZN) saw its shares surge after announcing earnings per share of $0.31 on revenue of $127.4 billion, both of which surpassed consensus estimates. However, the move higher was short-lived and quickly reversed course after executives raised concerns about weakness in cloud growth from Amazon Web Services, which reported its first deceleration in sales.
• Core PCE, the Federal Reserveās inflation index of choice, rose 0.3% month-over-month in March, matching the previous monthās reading. However, year-over-year Core PCE declined to 4.2%, its lowest level since May 2021 and well below the previous monthās 5.1%.
What to be on the lookout for today
• The ISM manufacturing index will be released. This factory activity metric declined to 46.3 month-over-month in March, the fifth straight month of declines, suggesting rising interest rates and recessionary concerns are weighing on businesses.
Maximize the enjoyment you get out of your home while also adding ROI value.
Many renters and homeowners feel that annual or biannual itch to spruce up their living space. That might mean a fresh coat of paint, upgraded appliances, or a kitchen remodel. Depending on the level of your upgrade, the cost of home remodel can come in anywhere from a few hundred to tens of thousands of dollars.
If youāre making upgrades that will improve a homeās value, the cost may be made up when selling the house later. Here are the top home improvement projects to increase your homeās value.
And if you need a little more cash on hand to help with your project, using a personal home improvement loan can help you focus on the renovation instead of fretting about costs. Plus, if you get an unsecured loan, you wonāt have to worry about putting your home equity on the line as collateral.
Todayās top stories
Appleās new savings account and expansion in India might dominate another busy earnings week. Hereās what one expert had to say about Appleās account. Plus, we preview other major earnings reports on the horizon, along with the Fedās next interest rate decision. Read more >> Job-switchers are still getting bigger raises than job-holders ā but the gap has narrowed. The diminishing pay raise gap between job-hoppers and loyal employees is impacting career choices. Hereās what this might mean for you. Read more >> The Q1 2023 earnings season got off to a surprising start. Hereās what else went down in April. Liz Young, head of Investment Strategy at SoFi, shares her monthly market insight. Read more >>Not-so-breaking news
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Southwest (LUV) is scaling back hiring this year due to Boeingās (BA) delivery delays. The airline now expects to receive only seventy 737 Max planes, instead of ninety as originally planned.
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Gap (GPS) is the latest company to announce job cuts as the shopping mall staple plans to layoff 1,800 workers. The owner of Old Navy, Athleta, and Banana Republic expects to save some $300 million from these layoffs.
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Portland General Electric (POR) is installing the second-largest battery storage plant in the US. This project will produce enough electricity to power 260,000 homes for four hours at full power.
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The European Union proposed the AI Act in an effort to regulate generative artificial intelligence. The act states companies creating AI tools will have to disclose any copyrighted material used to develop their systems.
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Popular pandemic-era audio platform Clubhouse is laying off roughly half of its employees. CEO Paul Davison was adamant that this decision was not made due to the economic environment, but rather to focus on improving the companyās product.
Financial planner tip of the day
āUndertaking home improvements can be exciting for homeowners. But before you embark on a project, know whether youāre looking at a renovation or a remodel, how much inconvenience youāre willing to put up with, and what you are willing to pay.ā
Brian Walsh, CFPĀ® at SoFi