Top Story
Bundlenomics: Has streaming really replaced cable?
The answer to this question is⊠tricky. As streaming platforms are vying for customers, bundles have reappeared, promising to save users money, but also locking them into services they may not need.
US stocks pulled back from record highs and finished lower on Wednesday
• The pullback came ahead of some blockbuster earnings and following the minutes from the Federal Reserveâs latest meeting, which showed a âwillingnessâ by central bankers to raise interest rates further if needed.
• Shares of retail giant Target tumbled after missing earnings estimates, while chipmaker NVIDIAâs stock ticked lower ahead of its earnings after the bell.
• Shares of vaccine makers, including Moderna, CureVac, and BioNTech, climbed after human cases of the bird flu were identified in the U.S. and Australia.
• Existing home sales unexpectedly fell last month, while the 30-year mortgage rate declined to 7.01% last week, its lowest level since early April.
What to be on the lookout for today
• A look at the services and manufacturing sectors in May. Weâll also get new home sales and building permits for April and the weekly update to unemployment claims.
• In earnings, BJâs Wholesale, Intuit, Ralph Lauren, Ross, and 23andMe will report.
Investing in the âin betweenâ periods
Market volatility can be stressful, and many investors look for advice on how to manage their portfolio during those times. Whatâs the best thing to buy when the market is rallying? Whatâs the best thing to own when weâre headed for turbulence?
But what happens during the âin betweenâ periods is just as important, writes SoFiâs Head of Investment Strategy Liz Young in this weekâs column.
With an eye on the U.S. dollar, which has strengthened in light of the Federal Reserveâs interest rate policy, but could stand to weaken when the central bank eventually cuts rates, Liz explores what this means for portfolios between now and then.
The details are key, even if her takeaway sounds simple: âStay invested, but donât overcomplicate or overconcentrate.â
Todayâs top stories
Whatâs the latest with student loan relief?The Biden administration has announced more relief measures for certain federal student loan borrowers. Get the details in our Student Loan Trend Watch.
Read more >> How more China tariffs might trickle down to youThe U.S. has been in a trade war with China for years now. But a recent increase in levies on certain could up the ante.
Read more >> Options lingo 101: what is theta?If youâre thinking about trading options, there are a few terms you should know about. One of them is theta, which measures the rate at which an optionâs value decreases over time.
Read more >>Other news that caught our eye
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Pixar cut about 14% of its workforce as parent company Disney scales back streaming content to cut costs.
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The Consumer Financial Protection Bureau plans to treat buy now, pay later (BNPL) services as credit card providers, arguing consumers should have access to protections like prompt refunds, regular billing statements, and the ability to pause payments while disputing charges.
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Airbnb and ChargePoint are teaming up to provide hosts discounts on electric vehicle chargers, aiming to better meet demand for EV-friendly listings.
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Some of the biggest cities in Florida saw rent asks decline in April, including Jacksonville, Miami, Tampa, and Orlando, as residents left the state.
Financial planner tip of the day
"If you are leaving a job with an employer-sponsored retirement plan, you can roll over your 401(k) into an IRA to potentially give yourself better investment options and lower fees. Before doing so, review the options and fees of your 401(k) to make sure it makes sense."
Brian Walsh, CFPÂź at SoFi