Friday,
May 31, 2024
Market recap
Dow Jones
38,111.48
-330.06 (-0.86%)
S&P 500
5,235.48
-31.47 (-0.60%)
Nasdaq
16,737.08
-183.50 (-1.08%)
Top Story
Why climate change could become a leading factor for economic growth
In new research economists predict the economic fallout from climate change may be as much as six times larger than previously thought.
US stocks finished lower on Thursday ahead of today’s inflation data
• The tech-heavy Nasdaq Composite fell the most of the major indexes, as chipmaker NVIDIA pulled back from record highs made earlier this week. It was a volatile day in tech, as Salesforce tumbled on an earnings miss, while HP shares climbed higher.
• New York Fed President John Williams noted the lack of progress on inflation, but said he expects it to resume moderating in the second half of the year.
What to be on the lookout for today
• April’s Personal Consumption Expenditures, also known as the Federal Reserve’s preferred measure of inflation. This report also includes personal income and spending data.
How to pick the right college major
Picking a college major can be an overwhelming task. Advice may range from “follow your dreams!” to “study something proper.” But the good news is that your major doesn’t always define your career path.
A major decision
Assess your skills. Know what you are good at and how you best thrive. If writing isn’t your strong suit, for example, don’t pick a subject that requires tons of essays.
Think long-term. The world is constantly changing, but try to consider how well a potential major might align with future job prospects. Computer science has been a popular major amid technological advances like AI. It’s also worth considering transferable skills you might learn that could help you be more flexible in your career.
If your plan is to continue onto medical or law school, it can be beneficial to choose majors that can expose you to applicable concepts and skills to help with admissions or future coursework.
Seek guidance. Schools have a lot of resources when it comes to picking a major — use them. Ask professors if you can sit in on classes and review their syllabus. You may even reach out to professionals working in your desired field to see what life is like for them.
Today’s top stories
Price cuts are coming to a grocery store near youConsumer companies are cutting prices left, right, and center. But here’s why this is as much of a warning signal, as it is a boon for cash-strapped consumers.
Read more >> Millions of older workers are still paying off student debtMore than 2 million student loan borrowers are over the age of 55. Carrying their loan burden for that long can have implications for their retirement savings.
Read more >> What is corporate social responsibility and why does it matter?If you want to invest in companies that align with your values, you may want to know about their corporate social responsibility policies, which outline how a business might try to impact positive social change.
Read more >>Other news that caught our eye
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Some Senate Democrats asked the Justice Department to investigate Big Oil companies over alleged collusion to inflate oil and gas prices.
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Walmart+ is running a week-long members-only sale from June 17-23 to compete with Amazon’s Prime Day, which is expected in July.
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American Airlines is facing a lawsuit alleging racial discrimination after multiple Black passengers were asked to deplane a flight in January over a body odor complaint.
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The U.S. economy grew at an even slower pace than initially thought in the first quarter of the year. The latest estimate showed an annualized growth rate of 1.3%, compared to the previous estimate of 1.6%. The revision was largely due to cooling consumer spending.
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Amazon is extending a deal to include a Grubhub+ membership for U.S. Prime subscribers. Members can also now order from Grubhub using Amazon’s shopping app and website.
Financial planner tip of the day
"Many stores offer discounts for current students. To take advantage of them, keep your student ID handy while shopping. Students will find a variety of discounts — from discounted admission to museums and professional sports games. Don’t be afraid to ask if the store, service, or experience offers a lower rate for customers enrolled in school."
Brian Walsh, CFP® at SoFi