Wednesday,
January 24, 2024
Market recap
Dow Jones
37,905.45
-96.36 (-0.25%)
S&P 500
4,864.60
+14.17 (+0.29%)
Nasdaq
15,425.94
+65.66 (+0.43%)
Top Story
ESG backlash continues as Exxon sues its own investors
The oil giant wants to block a shareholder proposal from two impact investors urging it to further curb emissions.
US stocks were mixed on Tuesday but the S&P 500 closed at a record high
• Shares of Verizon jumped 6.7% after reporting the highest quarterly subscriber growth in almost two years.
• Procter & Gamble stock rose 4.1% after beating profit expectations.
• Johnson & Johnson reported better-than-expected earnings after tentatively agreeing to pay a $700 million settlement for an investigation into the marketing of its talcum-based baby powder. The companyâs stock declined 1.6%.
• Companies cut their 2024 outlook: 3M and GE both shared disappointing forecasts, leading their stocks to drop 11% and 1%, respectively.
• A WWE-Netflix deal sent shares of WWE-owner TKO Group Holdings up 15.8%.
• In airlines, United Airlines stock climbed 5.3% after announcing it may not include Boeingâs 737 Max 10 aircraft in its fleet due to manufacturing delays and the recent grounding of the Max 9 aircraft. Spirit Airlinesâ rollercoaster ride continued, rising 3.1% for its third-straight day on the back of its upbeat earnings forecast and its joint appeal with JetBlue to appeal a judgeâs block of the airlinesâ merger.
• Chinese stocks rallied across the board on reports that local authorities are considering a $278 billion share-buying program to stabilize its stock market, shortly after the Shanghai Composite hit its lowest level since April 2020.
What to be on the lookout for today
• The weekly update to the 30-year mortgage rate will be released, along with data from the manufacturing and services sectors for January.
• AT&T, IBM, and Tesla will report.
What you need to know about term life insurance
Only a few things in life are certain. Thatâs why thinking about estate planning early on in life is key to make sure your loved ones are taken care of financially, if youâre not around.
Life insurance can help you do this. One type is term life insurance, which offers coverage for a set amount of time. For instance, you can buy a 10, 20, or 30-year policy. If you pass during that time period, your beneficiaries get the benefit.
You pay premiums, and your age and health typically play a role in determining cost. But generally speaking, term life insurance is less expensive than other types of life insurance.
Coming to terms
The length of a term thatâs right for your situation may vary based on your personal situation. You may consider when your kids will have graduated college, the house is paid off, or how many years are left until retirement.
Similarly, the size of the benefit you want to provide your family if something happens to you, is an individual choice. Factors may include loans, including mortgages, college tuition, and everyday living expenses.
If youâre thinking about term life insurance, SoFi has teamed up with Ladder to help with that.
Todayâs top stories
Considering quitting your job? You might want to wait a few months In the topsy-turvy U.S. job market, companies seem to have the upper hand at the moment. But there is potentially good news for workers on the horizon. Read more >> Weeknights are no longer the new weekend Americans splurged on midweek nights out as the pandemic lockdown mandates lifted. Now that trend is cooling off. Read more >> How much should you spend on renters insurance? Renters insurance can cover your belongings and personal liability. But like other types of insurance, you have to choose your deductible and premium when settling on a plan. Hereâs your renters insurance primer. Read more >>Other news that caught our eye
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Amazon was fined $35 million by a French regulator over its surveillance of warehouse workers, alleging âoverly intrusiveâ data-gathering practices.
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The Federal Trade Commission banned Turbotax from advertising âfreeâ tax services, as not all customers qualify for the services.
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Union workers at Vogue-parent CondeĚ Nast organized a walkout to protest the companyâs plans to lay off 5% of its staff.
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The United States Postal Service revealed the first EV charging stations as part of a $40 billion upgrade to its service and EV fleet.
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Struggling used-car retailer Vroom will suspend its e-commerce business and lay off 90% of its employees as it shifts focus to its auto financing and AI analytics divisions.
Financial planner tip of the day
âLife insurance isnât necessarily a must-have for everyone. But if you have dependents or debt â or think you might someday â you may want to take a closer look at whether life insurance could be a financial tool to help protect your loved ones and your legacy.â