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How Gen Z is changing corporate America
The generation of the youngest American workers are flipping the script for whatās expected of companies.
US stocks were mixed on Wednesday, as earnings again drove much of the market action
• Tesla shares rallied as the company reiterated its commitments to a budget vehicle, robotaxis and self-driving features, Boeing burned through billions of cash, and toymaker Hasbro and pharma company Biogen showed off successful cost cutting efforts.
• The 30-year mortgage rate increased to 7.24% last week, its highest level since November, leading to a 2.7% decline in mortgage applications.
What to be on the lookout for today
• A first look at how the economy fared in Q1. Weāll also get the weekly update to unemployment claims.
• In earnings, it will be another busy day with Google-parent Alphabet, American Airlines, Capital One, Caterpillar, Comcast, Honeywell, Merck, Microsoft, Roku, Southwest Airlines, and T-Mobile reporting.
Geopolitics and the markets ā digging into complicated dynamics
Geopolitical tensions have been running high. Between the ongoing war in Ukraine following Russiaās invasion more than two years ago, and the Middle East conflict there is plenty for investors to keep in mind.
While oil prices have by and large recovered from the initial reaction to the October attack in Israel, gold prices have notched one record high after another.
āMarkets are resilient in the face of stress, which we can see over the course of history. But they are less resilient when that stress begins to have clear lasting consequences,ā writes SoFi Head of Investment Strategy Liz Young in this weekās column.
Read on for what this means for portfolios, and how to look at the risk of future conflicts.
Todayās top stories
Student loan trend watch: Whatās the latest with reliefFor federal student loan holders whose debt has ballooned because of interest, a new forgiveness program proposed by the White House promises relief.
Read more >> Advice for the start of your career: Lean into opportunitiesBrad Goreski of Canadaās Drag Race appeared on SoFiās Richer Live$ YouTube series to share career, money, and fashion advice.
Read more >> What exactly is venture capital?Venture capitalists provide early stage financing to startups and small companies. But early exposure to brands with potential comes with a lot of risk attached.
Read more >>Other news that caught our eye
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Boeing burned nearly $4 billion in cash last quarter as the crisis surrounding 737 MAX is biting.
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President Joe Biden signed the TikTok ban bill into law. Parent company ByteDance now has nine months to a year to divest the appās U.S. business or face a nationwide ban.
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Oracle founder Larry Ellison announced plans to move his companyās headquarters to Nashville.
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The White House expanded overtime pay, covering more than four million workers who werenāt eligible previously.
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Foot Locker debuted a new store design with a more immersive layout and custom sneaker hub.
Financial planner tip of the day
āBuilding a diverse stock portfolio can be achieved in a variety ways, whether an investor lets their passions for an industry or certain companies guide them, or they are attracted to the ease and low barrier to entry of an ETF.ā
Brian Walsh, CFPĀ® at SoFi