Wednesday,
January 10, 2024
Market recap
Dow Jones
37,525.16
-157.85 (-0.42%)
S&P 500
4,756.50
-7.04 (-0.15%)
Nasdaq
14,857.71
+13.94 (+0.09%)
Top Story
The global economy faces its toughest challenge in 30 years
2024 promises to be a challenging year for the global economy for one key reason, according to the world bank.
US stocks were mostly lower on Tuesday as the broader market struggled
• Shares of Canadian cannabis company Tilray fell 9.8% after reporting lower-than-expected revenue.
• Shares of grocery company Albertsons rose slightly after beating expectations and reporting an increase in same-store sales.
• Unity Software stock fell 8% after announcing plans to cut 25% of its workforce or 1,800 employees as part of its corporate restructuring plan.
• Shares of Cisco competitor Juniper Networks soared 21.8% on a Wall Street Journal report that the company is in talks to be bought by Hewlett Packard for around $13 billion. HP shares were down 8.9% on the news.
• Shares of Tinder-owner Match Group jumped 3% following news that Elliott Investment Management built a roughly $1 billion stake in the company with plans to improve its performance.
• The U.S. trade deficit narrowed more than expected to $63.2 billion in November.
What to be on the lookout for today
• The weekly update to the 30-year mortgage rate, which increased for the first time in nearly two months last week.
FAFSA: Here’s how to get help paying for college
If you’re looking for help to pay for college, you’re going to need to fill out a FAFSA form.
FAFSA stands for Free Application for Federal Student Aid. The form is free to fill out, and can provide federal and state student grants, work-study jobs, and loans. Many colleges also use the form to determine their own scholarships and grants. Learn more about what changed on the form this year.
The 2023-24 FAFSA has a deadline of June 30, but many states and colleges have earlier deadlines, so don’t procrastinate.
What you need to fill out the form
You’ll likely create an FSA ID that allows you to apply and manage your aid.
To fill out the 2024-25 form, it’s a good idea to have the following information handy: your Social Security number, as well as your parent’s if you’re a dependent, tax returns, current balances of bank accounts, net worth of investments and businesses, and records of child support (if applicable). You should also be prepared to list at least one school that will be sent your information.
You can apply online or fill out the paper version and mail it to the Education Department.
Today’s top stories
Downtown ghost town. Office buildings are emptier than ever Even with all those calls back for in-person meeting magic, office vacancies have hit a record high. Read more >> Your employer can help you with your student loans Since the start of 2024, companies are able to match workers’ student loan payments with contributions to their retirement savings. Here’s how it works. Read more >> These are the happiest places to retire in the US SoFi studied cities across the nation to determine where the happiest retirees in America live. The #1 spot might surprise you. Read more >>Other news that caught our eye
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Alaska and United Airlines reported that they found loose panel parts on some Boeing 737 Max 9 jets.
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Meta will restrict the content teen users can access on Instagram and Facebook, following a lawsuit alleging the platforms contribute to mental health problems.
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Rent the Runway will cut roughly 10% of its corporate jobs. The fashion rental service’s chief operating officer and president also resigned.
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Google is being asked for $1.67 billion in damages by Singular Computing over alleged patent infringement related to the processors powering its AI technology.
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X, formerly known as Twitter, will launch peer-to-peer payments as part of a push to transition from a social media platform to an “everything app”.
Financial planner tip of the day
"Start researching scholarships early, because gathering the required documents and information to apply could take time and early deadlines are common for large awards."
Brian Walsh, CFP® at SoFi