Thursday,
February 29, 2024
Market recap
Dow Jones
38,949.02
-23.39 (-0.06%)
S&P 500
5,069.76
-8.42 (-0.17%)
Nasdaq
15,947.74
-87.56 (-0.55%)
Top Story
Career transitions boomed in the pandemic. But how do you get started?
Maybe your industry is changing, maybe you want to earn more, or maybe you’re looking for a different work-life balance. If you’re thinking about a career change but don’t know how to go about it, here are three steps to take to get the ball rolling.
US stocks finished lower on Wednesday ahead of key inflation data
• The U.S. economy grew at a slightly slower pace in Q4 of last year than initially estimated but it was still the sixth straight quarter with an annualized growth rate of more than 2%. However, inflation also rose faster than first reported during the same period.
• The 30-year mortgage rate dipped slightly to 7.04% last week, and mortgage applications declined 5.6%.
What to be on the lookout for today
• January personal consumption expenditures, the Fed’s favorite inflation index. We’ll also get personal income and spending numbers for January and weekly jobless claims.
• In earnings, Anheuser-Busch, Bath & Body Works, Best Buy, Dell, Spam-maker Hormel Foods, Papa Johns, and Six Flags Entertainment will report.
Market watch: How high is too high?
We’ve been shouting out record stock market highs a lot since the start of the year as equities are continuing their steady move higher.
This rally may have taken analysts by surprise, and some market watchers are reevaluating their stances. Case in point, half of strategists’ year-end S&P 500 price targets are already in the rear-view mirror.
As market participants are trying to discern whether this is the top, or whether there’s more room to run, we have to address the question of where we are in the business cycle.
SoFi Head of Investment Strategy Liz Young is walking you through it, just in case you’re afraid of heights.
Today’s top stories
Why the FAFSA delays matter so much Prospective students could forgo college because they do not know whether they can afford it due to delays in the overhaul of this key financial aid form. Now many colleges are pushing back their admissions deadlines. Read more >> This one industry that hinges on diversity still isn’t very diverse AI has had to deal with the issue of prejudice from day one. A look at the makeup of the tech industry is making this a more awkward issue. Read more >> What kind of life insurance is right for you? Life insurance can be a key part in your financial planning. Here are 8 popular types of life insurance for any age. Read more >>Other news that caught our eye
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Starbucks and the Workers United union agreed to begin discussions regarding collective bargaining agreements.
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Disney will create a $8.5 billion joint venture by merging its Star India streaming business with Indian media company Viacom18.
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Toyota is recalling 381,000 2022 and 2023 Tacoma pickup trucks over a rear axle defect.
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Oreo announced two new flavors: Dirt Cake and Tiramisu Thins. Both flavors will be available starting in March, but only the latter will be a permanent fixture.
Financial planner tip of the day
“Stock market investing can be more appropriate for big goals in the distant future, such as saving for a child’s education or your own retirement, which could be 20 or 30 years down the line. This relatively long time horizon not only gives your investments a chance to grow, but it means that you also have the time to ride out market downturns that may occur along the way.”
Brian Walsh, CFP® at SoFi