Top Story
It’s Fed week! It’s jobs week!
Oh yeah, and there are still a ton of earnings waiting in the wings. It will be a busy week for investors with lots of different things vying for the spotlight. Here’s what’s ahead on Wall Street.
US stocks finished higher on Friday after March inflation data and more Big Tech earnings
• Shares of Google-parent Alphabet, Microsoft, and social media platform Snap rallied on earnings news.
• On the inflation front, the Fed’s preferred inflation measure, core PCE, rose 2.8% year-over-year, and 0.3% from February. The same report also showed personal spending jumping 0.8% in March, while incomes rose only 0.3%.
What to be on the lookout for today
• The Dallas Fed manufacturing index.
• In earnings, Domino’s Pizza, ON Semiconductor, and Paramount Global will report.
Do you know what’s in your 401(k)?
If you’re saving for retirement in an employee-sponsored 401(k) plan, you have already taken an important step in saving for the future. These plans allow you to contribute pre-tax dollars from your paycheck, and companies often match some contributions as well.
So you have your monthly contributions set up. But do you know how your nest egg is invested?
The 411 on your 401(k)
You have to decide how your savings are invested.
Typically, 401(k) plans offer different investment options, such as mutual funds, index funds, or bond funds. When picking funds, make sure you know what they consist of.
Choosing investments generally depends on your risk tolerance and time horizon. For example, younger investors may choose more aggressive options, while older investors who are closer to retirement may pick lower-risk investments. Diversity is important, too, so pay attention to investment allocation.
And remember: Your 401(k) is a long-term investing play, so don’t panic when the market swings.
Today’s top stories
The TikTok ban is here. But what does it actually mean?Yes, you can still use your app. For now at least. Here’s what’s next in the biggest social media story of the moment.
Read more >> Who wants America’s millions of tons of plastic waste?After China stopped taking our plastic, we’ve been left scrambling.
Read more >> Do you know what’s on your checks?If checks confuse you, you’re note alone. This is how you read (and write) them.
Read more >>Other news that caught our eye
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Airbus is ramping up production of its A350 aircraft, citing high consumer demand, while maintaining the Boeing crisis is a headwind for the entire industry.
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The Baltimore port has reopened for cargo ships, offering a temporary deep-water channel with several ships already passing through successfully, following the tragic collapse of the Francis Scott Key Bridge in March.
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Microsoft says demand for cloud AI applications continues to exceed supply, saying the company will keep investing heavily in its data center infrastructure.
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Safety regulators opened a probe into Tesla’s December recall to install autopilot safeguards. The EV leader recalled more than 2 million vehicles, nearly all of its vehicles on U.S. roads.
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The Federal Trade Commission reinstated net neutrality rules designed to keep broadband internet providers from favoring some sites and apps over others which had been repealed by the Trump Administration.
Financial planner tip of the day
"Roth IRAs provide additional flexibility to withdraw from an account during retirement without paying taxes. Additionally, it can be especially beneficial for people who are currently in a low income-tax bracket and expect to be in a higher income tax bracket in the future."
Brian Walsh, CFP® at SoFi