Wednesday,
March 20, 2024
Market recap
Dow Jones
39,110.76
+320.33 (+0.83%)
S&P 500
5,178.51
+29.09 (+0.56%)
Nasdaq
16,166.79
+63.34 (+0.39%)
Top Story
Looking for a new job? Don’t burn out in the process
Job searching can be stressful and disheartening. But sending your resume out en masse rarely has the desired response either. Here’s how to avoid burnout and get the result you want.
US stocks finished higher on Tuesday, with the S&P 500 clinching a new record high
• In M&A news, shares of Nordstrom jumped 9.4% after Reuters reported the retailer is reaching out to private equity firms as it considers going private, while AstraZeneca announced plans to buy Fusion Pharmaceuticals for up to $2.4 billion to accelerate its cancer treatments, sending the latter’s stock soaring nearly 100%.
• Building permits and housing starts increased more than expected in February. Permits rose roughly 2% from January, while starts were up nearly 11% month-over-month. Housing completions also increased about 20% from January.
What to be on the lookout for today
• The Federal Reserve’s interest rate decision and quarterly projections. Markets are currently pricing a near-100% chance rates will remain unchanged at today’s interest rate decision from the Federal Reserve, according to CME’s FedWatch Tool.
• We’ll also get the weekly update to mortgage applications.
• In earnings, Chewy, General Mills, Micron Technology, and Temu-parent PDD Holdings will report.
It’s time to spring clean your finances
Did you have a New Year’s resolution to get your finances in shape this year? Budget better, save more, invest for the future. If life got away from you, what’s better to get back on track than the start of a new season. Think of it as spring clean for your finances.
Savings status. Have you been able to save as you planned this year? If not, maybe your goal doesn’t match your monthly expenses. Review your budget to see what fits into your life. As far as where your savings live, consider a high-yield savings account to make your money work for you.
Budget sweep. Speaking of reviewing your budget, also review your spending. For example, are you using all those subscriptions you pay for? If you want to reduce your spending, it may be easy to cut smaller things first.
Prioritize. If shedding debt is on your to-do list, a big part of that is prioritizing your payments. Evaluate your current debt status and the interest you’re paying. Focus on paying down the debt with the highest interest rate first, while still making minimum payments on all your other obligations.
Happy spring cleaning!
Today’s top stories
As the Fed ponders rate cuts, Japan’s central bank raised rates for the first time in 17 yearsAfter eight years of negative interest rates, Japan is looking toward a new era of monetary policy.
Read more >> Maybe there is such a thing as too much winePeople, particularly younger generations, are drinking less alcohol than they used to. This has created a massive oversupply of wine globally, causing some vineyards to resort to drastic measures.
Read more >> Looking to get a dog? Here’s how to add your new pet to your budgetNearly half of all households in the U.S. include a dog. If you’re looking to add a furry friend to yours, keep your eyes on your budget and sketch out what this commitment might cost.
Read more >>Other news that caught our eye
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Coca-Cola is rolling out bottles made entirely of recycled plastic for all of its namesake beverages.
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The United Auto Workers union filed a petition to hold a unionization vote at a Volkswagen plant in Tennessee.
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Joby Aviation is supplying electric aircraft to an Air Force base in Florida, under a contract worth up to $131 million.
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Star Wars creator George Lucas is backing Disney CEO Bob Iger in the company’s board proxy battle with activist investor Nelson Peltz. Lucas is Disney’s largest individual investor, according to CNBC.
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Unilever plans to spin off or sell its ice cream business, which includes brands like Ben & Jerry’s, Magnum, and Klondike.
Financial planner tip of the day
"If you would prefer to attack your high-interest debt, the avalanche method is where you focus your extra money toward your more expensive debt first, again while still paying down your other debts. Whichever tactic you choose, either way, you will be focusing on eliminating debt — one loan or one credit card at a time."
Brian Walsh, CFP® at SoFi