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The generation with the biggest financial burden? Millennials
Two recessions, a pandemic, a red hot housing market, high interest rates, and soaring childcare costs are some of the reasons America’s millennials are the most financially unwell generation of the moment.
US stocks rose on Thursday over AI optimism, and ahead of today’s November payroll report
• Google stock jumped 5.3% as investors digested the launch of its new, fast AI model Gemini.
• Gamestop shares rose 10.2% after beating earnings expectations, and announced that company money can be used to buy other equities and short-term debt. Pet supply retailer Chewy, incidentally co-founded by current GameStop CEO Ryan Cohen, shed 0.6% after missing expectations and reporting weaker-than-expected revenue guidance for the fourth quarter.
• Shares of Dollar General fell 1.2% after reporting a decline in the average customer transaction and discretionary spending overall.
• PayPal shares slid 1.8% after Amazon announced that it will no longer allow customers to pay with Venmo starting January 10th.
• Initial jobless claims inched higher, even though they remain in line with pre-pandemic readings.
What to be on the lookout for today
• November’s nonfarm payrolls report and an update to the unemployment rate.
• December consumer sentiment index from the University of Michigan.
Money-saving tips for last-minute travel
If the massive Thanksgiving travel crowds were any indication, the holiday travel season is going to be a busy one. Not to mention expensive.
Buying airfare early may help you find the best deals, but the timing is getting tight for that. So here are some other tips to help lower the price of holiday travel.
Fly on the day itself
Flying on Christmas Eve or Christmas Day this year can help find better prices.
Do your homework (and math!)
Buying a bare-bones ticket could mean paying less upfront, but be sure to consider any extra fees you might incur, including paying for a seat upgrade, a second carry-on, or printing your printing pass.
Rise and shine
Flying first thing in the morning can bring down ticket prices, as well as ease travel headaches because delays and cancellations become more common as the day goes on.
Fuel up smart
If you’re hitting the road, using an app to help find the cheapest gas stations on your journey can help you save money.
Today’s top stories
Hotels’ endless sub-brands leave consumers confused Marriott alone has enough distinct brands to inspire a viral bingo game. In an effort to appeal to as many customers as possible, hotels have managed to confuse everyone. Read more >> This startup wants to solve the affordable housing crisis Simply Homes just raised $22 million to rent homes to low-income families. Read more >> How to save money on hotels for your next trip Lodging is one of the biggest expenses of a vacation. But hotel prices aren’t static, so you might be able to save money if you’re smart about your bookings. Read more >>Other news that caught our eye
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The Biden administration announced a framework for seizing drug patents to lower prices for costly medications and promote competition in the pharmaceutical industry. In other news, the administration also announced it has reached an agreement with Mexico to work on Chinese investment restrictions.
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Android users will be able to send blue-bubble texts to iPhones through a new app called Beeper Mini.
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McDonald’s revealed its Starbucks competitor CosMc’s, a separate café chain offering indulgent drinks like churro frappes and s’mores cold brews.
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Employees at the only U.S. Volkswagen plant have taken the first step toward joining the United Auto Workers Union by launching a voluntary organizing committee.
Financial planner tip of the day
“When people don’t know how much they spend and when, it can be difficult to stick to a savings plan. If you don’t know how much money hits the bank account each month and how much you spend, how do you know what’s a realistic amount to save? Before creating savings strategies, many people find it helpful to track their spending and expenses, organized by week, month, or year.”
Brian Walsh, CFP® at SoFi