Monday,
April 15, 2024
Market recap
Dow Jones
37,983.24
-475.84 (-1.24%)
S&P 500
5,123.41
-75.65 (-1.46%)
Nasdaq
16,175.09
-267.10 (-1.62%)
Top Story
Why remote work can leave some behind
Remote and hybrid work has revolutionized the labor market. But it’s a tide that’s not lifting all boats, and may leave women in challenging positions.
US stocks finished sharply lower Friday as investors digested big bank earnings
• Shares of several financial institutions fell, including JPMorgan and Citigroup.
• In commodity markets, oil prices jumped 0.6% driven by heightened tensions in the Middle East. It also pushed gold prices to a fresh record of more than $2,430 per ounce.
• Consumer sentiment dipped in April after reaching its highest level since July 2021 in March.
What to be on the lookout for today
• March retail sales and the Empire State manufacturing index. We’ll also get the NAHB homebuilder survey for April.
• In earnings, the financial sector will stay in the spotlight, as Charles Schwab and Goldman Sachs report.
Smart ways to use your tax refund
The average tax refund is higher this year, so what are your plans for the cash?
Think long term. There are many ways to use your refund to help build financial security. For example, shore up your retirement savings and contribute to your IRA.
Else, does your emergency fund need a boost? Experts recommend having three to six months of living expenses saved up to cover any unexpected events, such as car repairs, job loss or medical expenses.
Or maybe you can use your refund to tackle your debt; reducing any high-interest rate debt (think credit card) can save you money on interest charges.
Have a little fun. Using a portion of your refund to focus on yourself can also reap benefits.
Upgrading technology that you rely on can make you more productive and efficient and help make your life run a little smoother, for example.
Or perhaps you want to invest in your skills, by doing a course or earning a certificate that can boost your career.
Today’s top stories
Why are stamps getting more expensive?The U.S. Postal Service doesn’t work like a regular company, and that’s key to understanding why it keeps raising prices like it does.
Read more >> Earnings season is here!The first big banks have already reported when this hits your inbox. Earnings season is here and ready to take over the market chatter. Here’s what’s ahead on Wall Street this week.
Read more >> What if you miss today’s tax deadline?Tax Day is finally here, but what if you didn’t manage to file? Here’s what you need to know.
Read more >>Other news that caught our eye
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United Airlines flight attendants picketed after the airline reported a 90% pay bump for its CEO in 2023.
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Apple plans to revamp its Mac computers with an AI-powered chip, the M4 processor, intended to improve memory and AI capabilities, according to a Bloomberg report.
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Aerospace companies Rocket Lab and True Anomaly landed Space Force contracts, as it’s calling on the private sector to build out “tactically responsive” capabilities.
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U.S. airlines are asking President Joe Biden to stop approving additional flights from China, claiming Chinese carriers have an unfair competitive advantage because they can fly over Russia.
Financial planner tip of the day
Traditional IRAs or 401(k)s allow you to contribute pre-tax dollars to an account. You can save money on taxes now and only pay taxes on your investments when you withdraw from the account."
Brian Walsh, CFP® at SoFi