Tuesday,
April 16, 2024
Market recap
Dow Jones
37,735.11
-248.13 (-0.65%)
S&P 500
5,061.82
-61.59 (-1.20%)
Nasdaq
15,885.02
-290.08 (-1.79%)
Top Story
SoFi Survey: Women have more financial power than ever. How are they using it?
Women’s financial priorities and realities may not always line up. Even though women earn more and control a growing amount of assets, many are hesitant when it comes to investing. Learn more in SoFi’s 2024 Women and Finances Survey.
US stocks finished lower on Monday amid heightened geopolitical tensions in the Middle East
• U.S. oil prices held more or less flat Monday, while gold jumped 0.8% to roughly $2,380 per ounce, hovering slightly below its record high set last Friday.
• Retail sales rose more than expected in March, as rate cut expectations continue to cool, sending the U.S. 10-year Treasury yield above 4.6%, its highest level since mid-November.
What to be on the lookout for today
• Building permits and housing starts for March.
• In earnings, it’s another big day, with reports due from Bank of America, BNY Mellon, Johnson & Johnson, Morgan Stanley, PNC, and UnitedHealth, the highest weighted stock in the Dow.
What you need to know about picking health insurance
Picking a health insurance plan can be complicated and leave you confused. Here are some of the key terms to know when trying to find the right health insurance for you and your family.
Health insurance vocab
PPO: Preferred Provider Organization plans create a network of doctors that have agreed to provide services for a negotiated price. These plans can offer more flexibility because you can see an in-network doctor at a lower cost, or an out-of-network provider, probably at a higher rate. Plus, you typically don’t need a referral to see a specialist.
HMO: Health Maintenance Organization plans are the other option you might see available to you. They tend to be less expensive than PPO plans, but can be more restrictive. Generally, you can only use providers that are part of the HMO’s network. And you usually need a referral from your primary care doctor to see a specialist.
Premium: This is how much you pay for the policy per month, quarter or year.
Deductible: This is the amount you pay for care before your insurance coverage kicks in to help cover costs. It’s key to be aware of this number so you don’t get surprised by a bill you didn’t budget for. Deductibles vary by plan, and higher deductible plans tend to be less expensive.
Copayments: This is a fixed amount you may pay for doctor’s visits or services. They usually don’t count toward your deductible.
Today’s top stories
A look at Colorado’s massive e-bike subsidiesThe state is knocking $450 off the price of new e-bikes, in a move that could benefit the city, its residents, and the planet.
Read more >> Hispanic workers don’t feel valuedHispanic workers feel underrepresented and undervalued, making many think about leaving their jobs. This is a problem for their employers.
Read more >> What happens when you don’t replenish a negative bank balance?So you’ve overdrawn your bank account. But what happens if you don’t pay it back?
Read more >>Other news that caught our eye
-
Tesla is laying off more than 10% of its global workforce and lost two high-profile executives.
-
Adobe Acrobat released a monthly subscription for an AI assistant to help users understand the contents of digital documents, starting at $4.99 per month.
-
New York Fed President John Williams said he still expects the Federal Reserve will start lowering rates this year and doesn’t consider recent hotter-than-expected inflation data a “turning point.”
-
The White House will provide up to $6.4 billion in funding for Samsung to develop a chip research and manufacturing facility in Texas.
-
BP reduced its electric vehicle charging workforce by 10% because the company’s bet on EV uptake and charging needs didn’t pay off as expected.
Financial planner tip of the day
“An emergency fund is intended to be used at a moment’s notice. For the most part, you’ll hear that a healthy emergency fund should cover between three and six months worth of living expenses — which would include rent, mortgage, bills, food, and other essentials. And since you never know when an emergency might happen, it’s best to keep your fund relatively liquid.”