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Inflation has opened the door to more sophisticated investments for many households
The number of accredited investors who can put their money into private companies or hedge funds has grown exponentially over the past years, and if you ask the SEC, it’s all because of inflation.
US stocks rose on Tuesday as the Dow notched its fifth straight record high
• This is the last full trading week of the year, ahead of the holidays. The New York Stock Exchange will be closed on December 25th for Christmas Day, as well as on January 1st for New Year’s Day.
• Buy now pay later provider Affirm jumped 15.5% Tuesday after announcing it will provide its services at more than 4,500 Walmart self-checkout kiosks.
• Chewy stock jumped 9.2% after a Jeffries analyst upgrade highlighting the pet food company’s growth potential.
• EV manufacturer Nikola’s shares soared 13.4% after founder and former CEO Trevor Milton was sentenced to 4 years for defrauding investors.
• Shares of hydrogen fuel cell company FuelCell Energy fell 4.6% after missing revenue expectations by posting a 43% year-over-year decline.
• Housing starts jumped 14.8% in November to their highest level since May, with single-unit starts surging 18%. Building permits meanwhile fell in November, driven by a decline in multi-family homes.
What to be on the lookout for today
• Housing data will take the spotlight with the weekly update to the 30-year mortgage rate and November’s existing home sales.
• General Mills and Winnebago will report.
How to get your budget back on track
If your end-of-year spending got a little out of hand, it’s important to get back on track.
Ignoring the problem will only make things worse: When bills are left unpaid you may accrue interest, or encounter late fees, which can be a hit for your credit score.
Getting back in financial shape
All about tracking
If you’re serious about getting your budget back on track, you have to well… track your spending. And we mean all your spending.
At the end of each month you can review where your money went, and where you might want to cut back.
Set clear goals
Setting clear and measurable goals, like “I want to pay off my debt next year,” or “I want to have $5,000 in savings by the end of 2024” can help you stay on track and motivated.
Stick to cash
You can’t spend what you don’t have. Giving your credit cards a break, and only using cash can help avoid any temptation of overspending.
Today’s top stories
Why the government is shoving billions into ports As truck traffic increases, the Biden administration is offering large grants for shipping ports to upgrade infrastructure. Read more >> 2-day delivery might just be too slow Waiting for a package might just be the worst, so America’s retailers are battling it to get you your packages faster. Read more >> How the holidays could affect your bank transactions We’re near year-end and a lot of folks are taking time off. So what happens to pending bank transactions? Will those go through during the holidays? Here’s what you need to know. Read more >>Other things that caught our eye
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Google has agreed to pay $700 million as part of an antitrust settlement over allegedly stifling competition and overcharging consumers within its Play Store.
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German airline Lufthansa ordered 80 new planes from Boeing and Airbus for $9 billion. They will be delivered between 2026 and 2032.
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Apple halted the sale of its Apple Watch Series 9 and Ultra 2 due to a patent dispute.
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The Powerball jackpot has grown to more than $570 million ahead of the next draw tonight.
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The White House is backing the electric vehicle industry’s efforts to standardize Tesla’s charging plugs.
Financial planner tip of the day
“No matter how you prefer to pay for purchases, checking your bank and credit card statements regularly for suspicious or erroneous charges can help you spot fraudulent activity right away. You may want to do this daily during periods of high usage, like around the holidays when it’s easier for fraudulent charges to slip through.”
Brian Walsh, CFP® at SoFi