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Triple-digit temperatures have taken Americans on a rollercoaster ride, and it's (quite literally) reshaping America’s theme parks.
From guest amenities to new attractions to safety precautions, here’s how your theme park visit could change due to extreme heatwaves.
US stocks fell Tuesday after Treasury yields headed to new highs and Wall Street tackled another busy day of earnings
• The US 10-Year yield pushed above 4%, closing in on its highest level since November 2022. Nevertheless, markets are currently pricing a roughly 80% chance the Fed will hold rates where they are at its next meeting.
• Uber (UBER) reported second-quarter results that missed analyst expectations for revenue but offered positive forward guidance. The company achieved two major milestones during the quarter: its first quarter of free cash flow over $1 billion, and its first operating profit. The number of Uber's monthly active platform consumers also reached 137 million in the second quarter, up 12% year-over-year.
• The number of job openings fell by 34,000 to 9.58 million in June, reaching the lowest level since April 2021 and coming in below the consensus of 9.61 million. Overall, the numbers suggest the labor market may be cooling off.
What to be on the lookout for today
• Investors will receive a flurry of mortgage-related reports including applications, average rates, and the mortgage refinance index. The average 30-year fixed-rate mortgage currently sits at 7.10%, while mortgage applications declined 1.8% for the week ended July 21.
• CVS (CVS), PayPal (PYPL), and DoorDash (DASH) will all offer updates on their respective businesses. The former is locked in an ongoing battle with NYC on if it should pay its drivers a consistent minimum wage. A decision could set a new precedent across all sharing economy companies.
2 smart and super-simple ways to save up for a new home
When you’re trying to put together money to buy a home, every little bit helps. Generally, with a conventional mortgage, you’re going to need at least 3% to 5% for a down payment, or 20% on a loan that doesn’t require private mortgage insurance.
Here are two low effort ways to save — and get you closer to your home-owning dream.
Open a high-yield savings account.
Putting your money into a regular savings account may not give you much of a return. But putting money in a high-yield savings account could score you more interest and help you reach your savings goals.
Change your tax withholding.
If your withholding is too high, the IRS is essentially hanging onto your money for you all year. Instead of getting a large tax refund later, keeping your money now could help you save more over time.
Looking for more ideas for saving and buying? Check out our home loan help center.
Today’s top stories
Walmart’s (WMT) stocking a surprising new product on its shelves: in-store advertisements. It’s one of several retailers on a mission to see if the digital ads model employed by ecommerce competitors can translate to physical stores. Will this shift enhance or irritate your shopping experience? Read more >> The market for destination weddings has surged 33% this year. Destination weddings have the potential to stretch a “special day” into a “special weekend” or beyond. But at what cost? Read more >> What happened in July? Annual inflation fell to a smidge below 3%, stocks are up 30-40% off the lows of last year, and markets expect that the Fed just hiked for the last time this cycle. SoFi’s Head of Investment Strategy walks us through what moved the markets in July and what to look out for in August. Read more >>Not-so-breaking news
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Amazon (AMZN) will roll out Amazon Clinic nationwide. The virtual platform is designed to connect patients with healthcare providers to treat common conditions such as sinus infections, acne, and migraines.
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Overstock’s (OSTK) website relaunched under the Bed Bath & Beyond domain after acquiring the bankrupt retailer’s intellectual property in June. The move aims to combine Overstock’s existing online business model with popular Bed Bath & Beyond branded products.
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X, formerly Twitter, sued the Center for Countering Digital Hate for violating Twitter’s Terms of Service and deliberately trying to drive advertisers away from the platform. The watchdog openly criticized the social media platform for ineffectively regulating hate speech.
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JetBlue (JBLU) lowered its guidance for the rest of the year. It cited the end of its partnership with American Airlines (AA), recently struck down after a judge ruled it was anti-competitive.
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Pfizer (PFE) is weighing cost cuts as demand for COVID products slumps. Sales of the pharmaceutical company’s COVID vaccine dropped 83% yearly in the second quarter.
Financial planner tip of the day
“If you can’t afford to pay off your mortgage early in its entirety all at once, you can chip away at the loan over time by making more than the minimum monthly payment. It’s a good idea to ensure that the additional funding is going directly toward your principal balance (the amount of money you borrowed in the first place). That way, you’re dialing down the amount of interest you’ll pay before it can even accrue.”
Brian Walsh, CFP® at SoFi