Monday,
March 18, 2024
Market recap
Dow Jones
38,714.77
-190.89 (-0.49%)
S&P 500
5,117.09
-33.39 (-0.65%)
Nasdaq
15,973.17
-155.36 (-0.96%)
Top Story
Mexico’s peso is rallying — and it matters north of the border too
What might be good news for certain investors means something very different for tourists heading south for Spring Break.
US stocks finished lower on Friday as markets digest the implications of the latest inflation data
• Consumer and wholesale inflation data last week showed prices accelerating month-over-month. Stickier inflation could motivate the Fed to keep rates higher for longer. Markets are now looking to June for the first cut.
• Consumer sentiment measured by the University of Michigan held nearly flat in March, but remains almost 25% higher than November of last year.
• Manufacturing activity in New York fell much more than expected in March, marking its fourth consecutive month of contraction.
What to be on the lookout for today
• The NAHB’s monthly survey of home builders.
Get the tools to conquer your debt
Did you know that student loans disproportionately affect women and people of color?
More than half — 64% — of student loan debt is held by women, with the highest average amount belonging to Black women.
While student loans can enable you to get a great education and set you up for your career, shouldering debt can be tough. That’s why it’s key to know how to handle it without putting your life on the backburner.
This Women’s History Month, SoFi is hosting a Women’s Financial Empowerment Webinar Series. Join SoFi’s CFP® Kendall Meade to learn how to confidently tackle your debt.
Can’t make it this week? Don’t worry, register anyway to receive all the resources and a recording of the event.
Today’s top stories
It’s Fed week! Here’s what to expectMarket watchers have been waiting for this one: the Fed’s March meeting. Expectations for rate cuts have moved out into the summer, but investors will be eager to hear what Chair Jerome Powell thinks about the recent inflation and jobs data. This is what’s ahead on Wall Street next week.
Read more >> Boeing’s headwinds are tailwinds for AirbusAfter years of being the leading aircraft manufacturer, Boeing’s ongoing turbulence has pushed it into second place in its duopoly with Airbus.
Read more >> What happens to your household debt if you get divorced?If you’re separating, you might wonder if you can wind up being held responsible for your partner’s debt. Here’s what you need to know.
Read more >>Other news that caught our eye
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McDonald’s experienced a tech outage on Friday that left some customers unable to order and suspended some operations.
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Boeing advised airlines to inspect cockpit seats on its 787 Dreamliner jets following an incident on a Latam Airlines flight between Australia and New Zealand when a motorized seat pushed the pilot into the controls.
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Best Buy is recalling nearly 290,000 Insignia Air Fryers in the U.S. and Canada due to potential overheating that can lead to fire hazards.
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The Chamber of Commerce is suing the SEC over new rules requiring companies to disclose certain emissions and climate risks.
Financial planner tip of the day
"There are two well-known, go-to ways to pay off debt by focusing on one debt at a time. The snowball method is where you focus on paying off your debts in order from smallest balance owed to largest by allocating extra money to those smaller balances, while still keeping up with minimum payments on other debt. The main benefit is seeing some of your debt paid off sooner, because you started with the smallest debt."
Brian Walsh, CFP® at SoFi