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What to do with your down payment when you can’t buy a home?
The housing market is leaving many prospective buyers to scratch their heads. What to do with a nest egg earmarked for a home if you can’t buy one? Here are three things people spend it on.
US stocks were mixed on Thursday, as the stock market took a breather from the previous days’ rally
• U.S. oil prices fell nearly 5% following news that stockpiles rose to a three-month high.
• Retail recap: Shares of Walmart fell 8.1% despite beating expectations after warning of weaker consumer spending. Macy’s beat expectations and jumped 5.7%, and shares of Chinese e-commerce giant Alibaba dropped 9.1% after abandoning plans to spin off its cloud division.
• Shares of Cisco dropped 9.8% after cutting its earnings forecast.
• More Americans filed for unemployment, with the number of first time filers at the highest level since August. Continuing jobless claims also rose more than expected, reaching their highest level in nearly two years.
• Homebuilder sentiment declined to its lowest level in a year as high interest rates keep mortgage rates elevated, unchanged at 7.61% for the average 30-year fixed rate mortgage last week.
What to be on the lookout for today
• Building permits and housing starts for October will give more insight into the housing market.
• BJ’s Wholesale will close out the earnings week.
Is Black Friday worth it?
Black Friday is just around the corner, and many shopping deals are already live. Here are some things to keep in mind so your Black Friday shopping doesn’t leave you in the red.
But remember: Just because something is being promoted doesn’t mean 1) it’s a good discount 2) you need it.
How to get the best deals
Shop around: Chances are if one retailer is offering a discount on a product, others might be as well. Here are some places to look for deals.
Layer on the deals: Look for more ways to save, for example through credit cards offer rewards like cash back, or at specific retailers. Also check if a store has a loyalty program that offers extra savings.
Fight the impulse: Great prices aren’t the only reasons to buy something. Keep in mind what you need, and what your budget allows so you don’t end up with a huge credit card statement.
Wait: This isn’t the last sale you’ll ever encounter. If you’re not sure on some spending, consider postponing until the next deals show up.
Today’s top stories
Plane ticket prices are dropping like snowflakes Airfares are dropping – even around holidays like Thanksgiving, which is expected to see record travel numbers. Here’s what might explain this surprising trend. Read more >> How much should you spend on your wedding? Weddings can be expensive, but how much do they really cost? We surveyed 1,000 men and women across the country to find out. Read more >> How to start investing when you’re still a student It’s never too early to start investing your money. In fact, the earlier you start, the faster you may be able to meet long-term financial goals. Read more >>Other news that caught our eye
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The cost of imported goods fell 0.8% in October, mainly driven by a 6.3% decrease in foreign-produced fuel, helping to ease overall inflation.
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Google Shopping is now powered by AI, just in time for the holiday season. It can suggest gifts based on the giftee’s interests.
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Hyundai announced the company’s first high-performance EV. The IONIQ 5 N will be available in 2024.
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Emirates is buying 15 A350-900 Airbus jets in a deal valued at $6 billion after spat over rising engine costs.
Financial planner tip of the day
"One of the key rules to remember in your 20s is that time is time can either be your best friend or worst enemy. Make time your best friend by starting investing early so your money has more time to grow."
Brian Walsh, CFP® at SoFi