Tuesday,
January 23, 2024
Market recap
Dow Jones
38,001.81
+138.01 (+0.36%)
S&P 500
4,850.43
+10.62 (+0.22%)
Nasdaq
15,360.29
+49.32 (+0.32%)
Top Story
Daycare costs as much as college. The state of parenthood in America
Parents of young children know the cost of care is exorbitant, but this report puts it into a whole new perspective.
The Dow Jones and the S&P 500 rose to new all-time highs to start the week
• The Dow closed above 38,000 points for the first time ever.
• Oil prices settled at their highest level in a month amid ongoing supply risks and concerns of higher-than-expected energy demand if the U.S. avoids a recession.
• Semiconductor company AMD’s stock fell 3.5% after an analyst downgrade.
• Spirit Airlines stock continued to rebound, surging 19.5%, after the budget airline declared it would appeal the federal ruling blocking its proposed merger with JetBlue, and delivered an upbeat revenue forecast.
• Shares of Macy’s rose 3.6% after rejecting a $5.8 billion takeover offer Arkhouse Management and Brigade Capital Management, saying the “unsolicited proposal lacks compelling value”.
• Shares of pipeline operator NuStar Energy surged 18.3% after fuel distributor Sunoco announced its acquisition for $7.3 billion. Sunoco shares fell 4.6%.
• Shares of renewable energy company SolarEdge jumped nearly 4% after announcing a restructuring plan that includes cutting more than 16% of its workforce.
• Shares of food processor ADM plummeted 24.2% after its CFO was put on leave during an investigation into the company’s accounting practices for its nutrition business.
What to be on the lookout for today
• It will be a busy day of earnings, with 3M, Ericsson, General Electric, Halliburton, Johnson & Johnson, Lockheed Martin, Procter & Gamble, Verizon, and Netflix all reporting.
How much home insurance do you need?
Buying a home is a major financial accomplishment. And one way to protect that investment is through homeowner’s insurance.
This insurance can provide coverage for damage and losses to your property or belongings due to events like a fire or theft, as well as some weather events.
If you’re still thinking about buying a home, make sure you factor insurance costs into your calculations.
Know your coverage
Do you have enough personal property coverage? Policies may cover things like furniture, clothing, electronics and appliances, and sporting equipment. Inventory your belongings with an estimate of their cost to make sure you have enough insurance coverage to repair or replace these items if needed.
Home insurance generally doesn’t cover damage from flooding or an earthquake. If you live in an area that’s prone to these events, look to see if it can be added or buy a separate coverage plan.
Looking for homeowner’s insurance? SoFi Protect has teamed up with Experian® to help with that.
Today’s top stories
Hybrid work continues to be a headache for the real estate industry Commercial mortgage delinquencies reached their highest level since 2017. Read more >> New rules are coming to the $26 trillion US Treasury market The SEC is looking to transform the largest bond market in the world in an effort to limit contagion risk. Read more >> Read this insurance primer if you’re buying a home What’s the difference between homeowners and title insurance? Read more >>Other news that caught our eye
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United Airlines forecast a loss in Q1 2024, following the FAA’s grounding of all Boeing 737 Max 9 planes. United has more of the aircraft in its fleet than any other carrier.
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Sony abandoned its $10 billion merger with Indian media conglomerate Zee, saying“closing conditions" were not satisfied.
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The Federal Aviation Administration recommended flight operators of Boeing aircraft with similar designs to the Alaska Airlines plane visually inspect mid-exit doors to ensure they are secure.
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The CEO of infant apparel company Kyte Baby apologized for firing an employee who requested to work remotely to be with her newborn in the neonatal intensive care unit.
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Several Target workers were fired for violating company policy after purchasing Stanley’s limited-release Starbucks cups.
Financial planner tip of the day
“Undertaking home improvements can be exciting for homeowners. But before you embark on a project, know whether you’re looking at a renovation or a remodel, how much inconvenience you’re willing to put up with, and what you are willing to pay.”
Brian Walsh, CFP® at SoFi