Wednesday,
March 27, 2024
Market recap
Dow Jones
39,282.33
-31.31 (-0.08%)
S&P 500
5,203.58
-14.61 (-0.28%)
Nasdaq
16,315.70
-68.77 (-0.42%)
Top Story
Itās not what you do, but who you knowā¦ Now with data behind it
New research found having wealthy friends can make a tangible impact on your finances, adding another layer to wealth inequality across neighborhoods.
US stocks finished lower on Tuesday as markets continued their pull back from last weekās record highs
• Krispy Kreme said it plans to serve donuts at all McDonaldās U.S. locations by the end of 2026, sending Krispy Kremeās stock skyrocketing 39.4% higher, while Ford shares slipped 3.6% on expected shipment delays due to the Francis Scott Key Bridge collapse in Baltimore.
• The Case-Shiller 20-city home price index showed prices in January rose 6.6% year-over-year to a record high.
What to be on the lookout for today
• The weekly update to mortgage applications and the 30-year mortgage rate.
• In earnings, Carnival Cruise Line will report.
How we buy and sell homes is about to change
Big changes are afoot in the real estate world.
The National Association of Realtors (NAR), which represents 1.5 million real estate professionals, recently announced a settlement that includes new rules and changes to real estate commissions. These changes could make it cheaper to buy and sell homes.
For a long time, home sellers typically paid a commission to their agent ā usually ranging between 5% and 6% of the home sale price, which was then shared with the buyersā agent.
Experts say the change in commission policy could allow buyers and sellers to better negotiate fees and lead to other pricing models, like flat fee brokerages, to become more prevalent. The new rules could also bring more transparency to the home selling process.
For anyone looking to sell a home to buy another, this idea may have just gotten more affordable.
The NAR settlement is still subject to approval by a judge.
Todayās top stories
Gas prices are set to go up this summerThe national average may exceed $4 per gallon this summer, due to these factors.
Read more >> Apparel companies are leading the charge to remove āforever chemicalsā from productsThese chemicals are used in everything from flip-flops to firefighter uniforms. But as backlash intensifies, the race to find viable alternatives is on.
Read more >> Estate planning: What to know about a mutual willEstate planning might not be the most cheerful topic, but itās definitely part of prudent financial planning. If youāre married, you may consider a joint will. Hereās what you need to know.
Read more >>Other news that caught our eye
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Cocoa prices keep climbing, crossing $10,000 per metric ton for the first time ever, as weather conditions and disease continue to impact crop yields.
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Amazon is expanding its same-day pharmacy delivery service to Los Angeles and New York City. The service is already live in Indianapolis, Miami, Phoenix, Seattle, and Austin.
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Dell revealed in a regulatory filing that it laid off roughly 6,000 workers in the past year amid broader cost cuts.
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Visa and Mastercard agreed to reduce swipe fees paid by merchants to resolve a decades-long antitrust lawsuit.
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Chick-fil-A shifted its No Antibiotics Ever policy to allow chickens to be treated with animal antibiotics.
Financial planner tip of the day
āLife insurance isnāt necessarily a must-have for everyone. But if you have dependents or debt ā or think you might someday ā 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.ā
Brian Walsh, CFPĀ® at SoFi