Top Story
2023 was a strong year for stocks. Will 2024 be more ānormalā?
There were record highs and double-digit growth. Stocks had a strong 2023. But some investors hope for something even better in the new year: moderate, sustainable growth.
US stocks kicked the new year off mixed, with the Dow at a fresh record high and bond yields moving higher
• Apple stock fell 3.6% after a Barclays analyst downgraded the company, citing weakening iPhone 15 sales, especially in China, and hinting at weakness for future iPhone 16 sales.
• Shares of EV maker Rivian fell 10.1% after reporting a more than 10% decline in fourth-quarter deliveries.
• Shares of shipping giant Maersk jumped 7.2% after announcing a pause in all shipping through the Red Sea following an attack by Houthi militants on one of its vessels over the weekend.
• The manufacturing sector declined more than expected in December, slipping further into contraction, according to one business activity survey.
What to be on the lookout for today
• Itāll be a busy day for economic data to start the year, with the FOMC minutes report, the weekly update to the 30-year mortgage rate, Decemberās ISM manufacturing PMI, and the JOLTS job openings for November all scheduled to be released.
How to keep your money resolutions this year
Want to make 2024 the year you manage your money better?
It can be hard to stay focused on big goals sometimes. But setting detailed and achievable resolutions can help you stay on track and motivated.
Getting financially fit
Build an emergency fund
Experts recommend having three to six months of living expenses saved in case of unexpected events, including job loss, or hefty medical bills. But saving up so much can feel daunting.
You donāt need to get there in one go, simply find a way to contribute to your emergency fund on a consistent basis, and keep the money separate from your regular savings account, ideally somewhere it works for you, like a high yield savings account.
Tackle your debt
List out your debt obligations along with their interest rates and create a plan for what to tackle first. Hereās a primer for different debt payoff strategies.
SoFi can help you track your money and take the first step to financial wellness in 2024.
Todayās top stories
Artificial Intelligence is going to court AI is on trial for the very way it works. The New York Times doesnāt enjoy the fact that to train AI models they need to consume human-made content, including articles created by their journalists. This is just the latest AI court battle, but it promises to be a high profile one. Hereās what the repercussions could be. Read more >> Americans donāt want to stream everything Remember cable bundles? Not too dissimilar from the streaming bundles of today, were they? Americans are ditching expensive streaming platforms theyāre not using and providers are getting creative to encourage customer loyalty. Read more >> How to calculate your net worth Information is key when it comes to money. Hereās what you need to know about net worth and how to calculate your own. Read more >>Other things that caught our eye
-
Early versions of Mickey and Minnie Mouse have exited copyright protection and entered the public domain, giving all creators the legal right to use the characters in new works.
-
The 2024 EV tax credit of $7,500 will be available as a rebate on the day of purchase.
-
The National Highway Traffic Safety Administration issued a recall for nearly a million Toyota vehicles and 79,000 Mercedes vehicles due to a fuel pump issue.
-
Meta permanently cut the price of its Quest 2 VR headset by $50.
-
Fidelity marked down its $19.2 million investment in X by more than 70%.
Financial planner tip of the day
āItās not glamorous, and it is the last thing that so many people want to do on their precious weekends, but tracking spending is essential to financial wellness. There is real truth to the saying āWhat gets measured gets improved.ā Thereās no way to fix problems like overspending without understanding exactly what goes in and what goes out.ā
Brian Walsh, CFPĀ® at SoFi