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Washington versus ESG investing
Interest in investing in line with environmental, social, and governance values is growing. Now lawmakers want to put profits first again.
US stocks were mixed on Thursday as worries about higher interest rates for longer continued to linger
• 216,000 Americans filed for unemployment benefits last week, fewer than the market had expected, bringing benefit filings to the lowest level since February.
• China plans to broaden its ban on the use of iPhones to government-backed agencies and state companies. The news sent Apple’s (AAPL) shares nearly 3% lower.
• Microsoft (MSFT) and digital pathology provider Paige are collaborating to build the world's largest image-based AI model for identifying cancer. The AI model is being trained on billions of images to identify common and rare cancers.
What to be on the lookout for today
• It’s a quiet last day of this shortened trading week in terms of economic data. The Fed will publish an update on consumer credit in July. In June, consumer credit rose by $17.9 billion.
• Kroger (KR) will give investors a rundown of its most recent quarter and discuss its proposed merger with Albertsons.This deal currently faces opposition in at least seven states. Rent the Runway (RENT) will round out the week with an earnings update.
Is it better to pay off student loans or credit cards first?
Not all debt is created equal, and when you're looking to pay it down, the order in which you do so is important. Two common types of debt are student loans and credit cards. Are you wondering if you should pay off student loans or credit cards first?
Different ways to pay down debt
of the first things that you should do when looking to pay down debt is to list out all of your amounts due. Gather the totals owed, the interest rates, the monthly payments, and all other information for each of your different debts. Then, you can make a plan for how to eliminate them.
Learn more about two popular methods — the debt snowball and debt avalanche.
In most cases, it makes sense to pay off your credit cards first
There isn't a single answer for whether it's better to pay off student loans or credit cards first, but credit cards often have higher interest rates than student loans. The exact method you choose for paying down debt is less important than making a plan that you'll stick to.
When it comes to money matters, it’s natural to have questions — lots of them. At SoFi Learn, you’ll find answers, plus tools, guides, calculators and more.
Today’s top stories
It’s the season for cheap plane tickets Airline tickets are beginning their initial descent as operators are trying to fill their seats. Read more >> Mark Wahlberg, Kevin Durant, and Post Malone are snacking on SkinnyDipped The low-sugar, gluten-free snack sensation just got a $12 million boost from dozens of A-listers. Here is its Hollywood success story. Read more >> Back in the office? Here’s how you can save money on commuting Commuting can be stressful and expensive. Check out these 7 ways to save money on your way to the office. Read more >>Not-so-breaking news
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Tesla (TSLA) plans to install 20,000 charging stations at 2,000 Hilton hotels (HLT) across North America. This deal aims to bring the EV maker closer to mass charging adoption while helping the hotel chain bring in more business customers.
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Stripe, Shopify (SHOP), and H&M Group (HNNMY) are spending $7 million on carbon removal. The deal was facilitated by Stripe’s public benefit company, Frontier.
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Walmart (WMT) lowered the starting wage for new hires in some of its stores. Current workers’ pay and the retailer’s $14 per hour minimum wage will remain unchanged and continue to vary by region.
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WeWork (WE) is set to renegotiate its leases globally. The struggling co-working will also exit leases in underperforming locations.
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The Biden administration said it would cancel the seven remaining oil and gas leases in Alaska’s Arctic National Wildlife Refuge. The White House also proposed stronger protections for parts of Alaska’s National Petroleum Reserve.
Financial planner tip of the day
“Interest rates on credit cards are notoriously high, but it’s possible to contact credit card companies to negotiate a lower rate. There’s no way to guarantee that asking will yield results, but for borrowers in good standing, a company may consider lowering their rate. This could help speed up your debt payoff process.”
Brian Walsh, CFP® at SoFi