Top Story
Home workout companies are struggling. Can they survive?
Peloton boomed during the height of the pandemic. But as people return to gyms and outdoor fitness picks up in the warmer months of the year, the future is uncertain for home workout companies.
US stocks finished higher on Friday after a weaker-than-expected jobs report
• The U.S. economy added only 175,000 jobs in April, well below estimates. The unemployment rate also edged higher to 3.9%, boosting hopes the Federal Reserve may be encouraged to cut interest rates sooner rather than later.
• Apple shares rallied after beating earnings expectations, announcing a record $110 billion stock buyback, and increasing its dividend by 4%.
• In other economic news, activity in the services sector contracted for the first time in more than a year in April.
What to be on the lookout for today
• There are no major economic reports scheduled.
• In earnings, EV-maker Lucid Group and Palantir Technologies will report.
This isn’t your grandmother’s labor market, but it still isn’t fair for women
Women have made great strides in the labor market over the last few decades, but they still face a lot of obstacles.
Last year, women made up 47% of the labor force, according to the Labor Department. In 1950, that number was 30%. The progress is obvious, but so is the fact that it’s not a 50:50 split.
Women fare better when it comes to the college-educated workforce where they have recently been outpacing men at 51%, per the Census Bureau. But when it comes to money, women remain behind on many fronts.
Among the nation’s 10 highest-paying jobs, only 35% are held by women , an increase from 13% in 1980.
Hitting the glass ceiling
Pay gap persists. Women still earn less than men. These discrepancies ebb and flow across education levels, experience on the job, and industries, but overall, full-time working women typically earn 84 cents for every dollar a man earns, according to the National Women’s Law Center .
Leadership positions. Women are still severely underrepresented in top positions. As of last summer, 10% of Fortune 500 companies have female CEOs.
The “Motherhood penalty”. Becoming a parent can hurt careers, a phenomenon known as the motherhood penalty that describes lost wages and career opportunities after having children.
Today’s top stories
It may get much easier to get a home equity loanFreddie Mac has submitted a proposal to enter the secondary mortgage market. If approved, this could inject nearly $1 trillion into the economy by making it easier to get a home equity loan.
Read more >> Putting all the interest rate talk into perspectiveThe Fed always takes center stage when it comes to the markets. But it hasn’t always been like this. Here’s why the interest rate chatter is so meaningful, and what you should look out for in the week ahead on Wall Street.
Read more >> Should you work from home or go into the office?Maybe your employer lets you decide, or maybe you’re looking for a new job in both the remote and in-person realm. There are pros and cons to both models, here are some factors to consider.
Read more >>Other news that caught our eye
-
If you own an EV that contains Chinese-made graphite, the Treasury Department extended eligibility for the EV tax credit, worth up to $7,500, through 2026.
-
Fast-food sales are under pressure as more consumers eat at home, according to Starbucks, McDonald’s, Pizza Hut, and KFC.
-
The bidding around Paramount continues, with Sony Pictures and private equity firm Apollo Global Management making a $26 billion offer for Paramount Global.
Financial planner tip of the day
"Pre-qualification can be a great way to dip your toe into the home-buying waters without getting bogged down with paperwork and process. It is relatively simple and can quickly give you an idea of what you might be able to afford."
Brian Walsh, CFP® at SoFi