Top Story
AI has become a prominent tool in many companies’ recruitment processes — but it may be making the process worse for everyone involved
Over time, this trend may correct itself, as prospective employees and employers alike realize a human touch is key to ensuring fair and effective hiring practices.
US stocks finished lower on Thursday after all three major indexes briefly pushed to intraday record highs
• Deere & Company’s shares fell after cutting its 2024 profit forecast, while Walmart’s jumped to a record high after beating profit and sales estimates, largely driven by high-income shoppers. Meme stocks GameStop and AMC both logged their second day of sharp losses after the surge earlier in the week.
• Building permits fell 3% in April, reaching their lowest level since December 2022. Meanwhile, housing starts bounced 5.7% from their more than 3.5-year low made in March.
• Unemployment claims declined less than expected last week, retreating from their highest level since August 2023.
What to be on the lookout for today
• There are no major economic or earnings reports scheduled.
Moving this summer? Here’s your check-list
If summer plans include packing up your home and moving, now’s the time to start preparing.
Moving can be stressful between the packing, the boxes, and the organizing. Preparation is key to make the process as smooth as possible: Sort through your belongings and throw out, donate, or sell what you don’t need. Packing a few boxes a day in the months leading up to the move can also help avoiding being overwhelmed later.
The cost of moving
Not only can moving be a hassle, it can also be expensive.
The move. When it comes to getting your stuff from A to B you can rent a van and do it yourself (the cheaper option), or hire professionals to take care of it for you (the expensive option). Summer is the most expensive time to move, so if you decide to outsource, book early and get a few estimates.
Packing. Buying new moving boxes can be pricey. Check local social media groups to see if anyone’s getting rid of their now-empty boxes, which are often still in good shape. Some companies also offer crate rentals for moving, which is more sustainable to boot.
Setting up the new place. Making your new property feel like home can take some work and money, too, from a professional deep clean to buying new furniture. Draw up a budget and maybe a timeline so you don’t get overwhelmed with the to-dos or the bills.
Today’s top stories
Record housing costs are bad for buyers, but a boon for rental home developersAs a combination of sky-high home prices and 7% mortgage rates are pricing Americans out of the housing market, rental home developments notched a new record.
Read more >> While plenty of employees are using AI, not all of them are telling their bosses about itHere’s how to talk to your boss about AI.
Read more >> After you pay off your mortgage, you’ll need to take care of a few housekeeping itemsYou typically receive paperwork and any funds in escrow, and you may enjoy better cash flow. Learn the details here.
Read more >>Other news that caught our eye
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The E.U. is investigating Facebook and Instagram for potential child safety breaches, including creating behavioral addictions with their algorithms.
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The price of auto insurance has become a major sticking point for inflation, after rising more than 22% annually in both March and April.
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McDonald’s plans to sell a $5 meal bundle this summer to attract more cost-sensitive customers.
Financial planner tip of the day
“If you can’t afford to pay off your mortgage early in its entirety all at once, you can chip away at the loan over time by making more than the minimum monthly payment. It’s a good idea to ensure that the additional funding is going directly toward your principal balance (the amount of money you borrowed in the first place). That way, you’re dialing down the amount of interest you’ll pay before it can even accrue.”
Brian Walsh, CFP® at SoFi