Wednesday,
November 15, 2023
Market recap
Dow Jones
34,827.70
+489.83 (+1.43%)
S&P 500
4,495.70
+84.15 (+1.91%)
Nasdaq
14,094.38
+326.64 (+2.37%)
Top Story
Investors worry about this weather pattern
With the first occurrence in four years, the climate phenomenon promises more erratic weather this winter that could affect crops, and supply chains.
US stocks soared on Tuesday after a cooler-than-expected inflation report boosted the idea that the Fed is done raising interest rates
• Inflation rose 3.2% year-over-year in October, the slowest rate since June.
• Core inflation came down to the slowest rate since September 2021.
• The 10-year Treasury yield tumbled below 4.5% in response.
• Shares of Home Depot jumped 5.4% after beating expectations.
• Shares of EV maker Fisker plummeted 18.7% after falling short of expectations, and disclosing “material weakness” in its financial reporting.
• The Technology Select Sector SPDR Fund hit a record high.
What to be on the lookout for today
• Wholesale inflation numbers, retail sales, and the weekly update to the 30-year fixed-rate mortgage.
• Earning reports from Target, TJX Companies, and Cisco.
You need an emergency fund, here’s how to build it
Life happens fast. Your car breaks down on the way to work. That toothache turns into a root canal. You drop your phone in a puddle. You lose your job.
Part of your budget should include an emergency fund to cover life’s unexpected events.
How much should I save?
The rule of thumb is you should have three to six months of living expenses in your emergency fund. However, if you have an inconsistent income stream, or work in an industry prone to layoffs, you might consider saving more.
How do I build it?
Once you’ve set a goal amount for your fund, determine how much you can contribute to it every month. If possible, automate this process.
Where do I keep the money?
Think of this as a cash reserve. You want the money to be accessible, but separate from your day-to-day accounts to avoid dipping into it.
Consider a high-yield savings account for your emergency fund to make your money work for you.
Today’s top stories
What happens when low-wage earners tighten their belts Wage growth has decelerated more sharply for low-wage workers, leading the retail industry to worry about what comes next. Read more >> A government shutdown could ground your holiday travel plans The TSA anticipates a record travel weekend for Thanksgiving, but Washington could make your plans even more stressful. Read more >> Confused about inflation? Learn more about the CPI Inflation talk is everywhere but it can be confusing. Here’s what you should know about the monthly gauge of prices that affect Americans. Read more >>Other news that caught our eye
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YouTube will require creators to disclose AI-generated content in their videos.
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Workers United is calling for a walkout on Starbucks’ Red Cup Day this coming Thursday.
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Toys R Us is back, and opening a flagship store at Mall of America this weekend.
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McDonald’s and Crocs are teaming up to release a branded line of shoes featuring mascots of the fast food chain.
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AI is taking on Hollywood: Warner Music Group is planning an AI-generated biopic of Edith Piaf.
Financial planner tip of the day
“The primary advantage of buying partial shares is the ability to buy stocks or ETFs that might otherwise be too expensive. With partial shares, you get to control exactly how much money you want to spend on each stock. Partial shares make it possible for you to build out an investment portfolio when you are ready”
Brian Walsh, CFP® at SoFi