Wednesday,
February 28, 2024
Market recap
Dow Jones
38,972.41
-96.82 (-0.25%)
S&P 500
5,078.18
+8.65 (+0.17%)
Nasdaq
16,035.30
+59.05 (+0.37%)
Top Story
The global economy is looking healthier
We havenāt quite stuck the soft landing yet, but things are looking up for the world economy, not least because the U.S. is roaring ahead. Thatās good news all around.
US stocks were mixed on Tuesday
• The S&P 500 and the Nasdaq Composite ticked higher while the Dow closed lower as the market looks ahead to the key inflation data due later in the week.
• Durable goods orders fell 6.1% in January, the biggest decline since April 2020.
• The Case-Shiller home price index showed prices rose 6.1% year-over-year in December. Out of 20 cities surveyed, San Diego reported the highest year-over-year gain at 8.8%.
What to be on the lookout for today
• Q4 GDP second estimate, January wholesale and retail inventories, and the weekly update to the 30-year fixed-rate mortgage.
• In earnings, Advance Auto Parts, AMC Entertainment, HP, Monster Beverage, Salesforce, Squareforce, TJX Companies, and ViacomCBS will report.
Alternative investments: How to invest outside the stock market
Diversifying your portfolio may help you offset certain risks your portfolio could face if it was concentrated in only one area.
This week weāve been diving into the world of alternative asset classes. So far weāve explored investing in real estate and commodities. Up next: private equity.
Hereās how it works: A private equity fund buys shares of private companies with the goal of eventually making a profit when they sell these stakes.
Venture capital is often considered a type of private equity because at itās core itās doing the same thing. However, VC firms invest in start-ups and early-stage companies in return for an equity stake.
The risks associated with private investments tend to be high ā but thereās also the potential for substantial profits when companies succeed.
Traditionally, these types of investments werenāt available to average investors because they required huge sums. But thatās changing as more private funds are designed for retail investors.
SoFi Head of Investment Strategy, Liz Young, recently sat down with legendary quarterback Steve Young to talk about his transition from the NFL to a career in private equity.
Tune into The Important Part podcast for the full conversation about what he learned along the way.
Todayās top stories
Higher airline baggage fees have been cleared for liftoff Both American and United Airlines raised the fee to check a bag last week. Hereās what changed ā and a few potential ways to save money on your next flight. Read more >> A Wendyās 4 for $4 might cost $5 or $6 next year ā depending on when you order The fast food giant is the latest major restaurant chain to experiment with dynamic pricing. Read more >> What is shrinkflation? Youāve probably heard about a phenomenon called shrinkflation, or read about it in the news. But what exactly does it mean? Read more >>Other news that caught our eye
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The CEO of Kelloggās North American cereal business is facing backlash after recommending cash-strapped customers eat cereal for dinner to save money on groceries.
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Sony plans to lay off 900 employees in its PlayStation unit and close its London studio.
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5,000 workers Anheuser-Busch brewery workers could strike this week as they negotiate for better job security in their new union contract.
Financial planner tip of the day
"Financial health isnāt synonymous with a personās savings or how much they currently earn. It may be helpful to think of good financial habits as a future-oriented exercise routine that can start with small daily steps ā something done today thatās motivated by longer-term gains."
Brian Walsh, CFPĀ® at SoFi