Top Story
The U.S. dollar is having a bad month, and the Fed is to blame
Lower interest rates are likely on the horizon but that’s not good news for every corner of the market. Here’s why lower rates are complicated for the greenback.
Read more >>
US stocks fell on Monday to kick off the post-Thanksgiving trading week.
• E-commerce stocks such as Amazon, Etsy, and Shopify finished the day higher as investors hoped for successful Cyber Monday sales. Shopify vendors raked in a combined $4.1 billion in sales on Black Friday alone, a new record.
• Apple’s contract iPhone manufacturer Foxconn Technology plans to invest big in India. Following pandemic disruptions to its operations, Foxconn is looking to diversify from its concentrated presence in China.
• TikTok-owner ByteDance announced that it is laying off hundreds of workers in its gaming division, closely following layoffs in its VR division earlier this month.
• Eli Lilly’s weight-loss drug Mounjaro may be more effective than Novo Nordisk’s Ozempic, according to a new study.
• New home sales fell more than expected in October. The median price of new houses sold was roughly $409,000.
What to be on the lookout for today
• The Case-Shiller Home Price Index for September will be released.
• In company earnings, CrowdStrike and Intuit will both report after the bell.
Is a home on your holiday wishlist?
A home might not be a common item on a holiday wish list… but maybe it should be.
While spring and summer months tend to be the busiest seasons to buy real estate, becoming a homeowner during the off-season has perks.
Motivated Sellers While inventory is still low in the housing market, real estate agents tend to encourage sellers to put their homes on the market during spring or summer when demand tends to be highest. If a home is listed in the colder months, it could mean there is urgency – like a job relocation or life change. That might mean more room for price negotiations.
Less Competition Many potential buyers take a break during the winter months, and then start their search again in next year’s home buying season. For off-season home hunters that means less competition.
Look before you leap With all this said, buying a home shouldn’t be based on the weather.
It’s a major financial decision, and understanding the total cost of monthly payments is important. So before you find your wishlist home, calculate how much you can afford.
Today’s top stories
Here’s why we might get fewer markdowns this shopping season Retail giants are revisiting their stocking practices to align more closely with consumer trends. Read more >> This pandemic-era moving trend is getting a reality check Some people who left the city behind during the pandemic are second-guessing their decision. Read more >> How to pay it forward There are many ways to give back from volunteering to charitable donations. Here are 23 small ways to pay it forward. Read more >>Not-So-Breaking News
- Retailers including Macy’s, HomeGoods, Burlington, and Michaels are jumping on empty Bed Bath & Beyond real estate. Burlington alone has already taken over 44 former locations.
- Buybuy BABY reopened 11 stores after being closed for three months in the wake of parent company Bed Bath & Beyond’s bankruptcy.
- President Biden announced initiatives to improve domestic manufacturing at the first meeting of his supply chain resilience council.
- Honda recalled some 300,000 sedans and SUVs after vehicles were found to miss a seat belt part. No more than 1% of the vehicles recalled are expected to have the defect.
- Meta has been accused of collecting personal data from millions of under-13 Instagram users without parental consent, according to an ongoing lawsuit against the social media giant.
Financial planner tip of the day
"Rebalancing an investment portfolio can help investors stay on track to meet their long-term goals. By ensuring that there is a steady mix—or diversification—of assets in their portfolio, they can stay on top of their investments in a way that works with their risk tolerance and their financial needs."
Brian Walsh, CFP® at SoFi