Tuesday,
June 11, 2024
Market recap
Dow Jones
38,868.04
+69.05 (+0.18%)
S&P 500
5,360.79
+13.80 (+0.26%)
Nasdaq
17,192.53
+59.40 (+0.35%)
Top Story
The hottest summer ever is coming for your AC bill
It’s promising to be one of the hottest summers on record – if not the hottest of them all. This means we’ll all seek solace in our AC-cooled homes, while our utility bills creep higher. Here’s what you can do about it.
The S&P 500 and Nasdaq Composite rose to fresh record higher ahead of a busy week
• To help the market’s record day, NVIDIA stock added 0.8% as its 10-for-1 stock split went into effect, and Walmart and Krispy Kreme both rose on analyst upgrades.
• Shares of CrowdStrike, GoDaddy, and KKR & Co. rose on news that the three companies will be joining the S&P 500 on June 24.
• A combination of lower production and a summer heat wave drove natural gas prices to their highest level since January at roughly $3 per million British thermal units, the standard measurement unit of gas.
What to be on the lookout for today
• The NFIB Small Business Optimism index for May.
• Oracle will also report earnings.
Why estate planning is key for unmarried couples
Estate planning can sound daunting or even extravagant. But here’s the truth of the matter: Everyone needs an estate plan.
It lets you determine the fate of your assets, name an executor, beneficiaries, and power of attorney. It can also help protect your family and minimize taxes.
Because married couples tend to have more legal protections, having an estate plan can be especially important for unmarried couples.
Without an estate plan, an unmarried partner might not have a right to a partner’s assets in the event of a death, and the division of property can also get complicated.
Protecting your future
Unmarried couples protect their loved ones by naming their partners in their wills, trusts, and power of attorney documents. And a living will can help ensure your end-of-life health care wishes are fulfilled.
Pay attention where you can name your partner as a beneficiary, including retirement accounts, and pay attention to the title of any joint assets.
Today’s top stories
Remote work was supposed to eliminate commutes, but it made them worseWorkers moved away from city centers during the pandemic. But with hybrid schedules growing in popularity, they’re heading back downtown for work — and traveling a lot further to get there.
Read more >> Yes, young people need IRAs tooEven if retirement seems very far away for young adults, it’s important to start saving for it early.
Read more >>Other news that caught our eye
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Microsoft and Google will offer free or discounted cybersecurity services to rural hospitals as ransomware threats to the healthcare sector grow.
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Activist investor Elliott Investment Management has built a $1.9 billion stake in Southwest Airlines and wants the company’s board to replace several top-level executives including CEO Bob Jordan, sending Southwest stock higher.
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It was a turbulent weekend for automakers: Stellantis recalled more than 200,000 SUVs and pickup trucks due to a potential electronic stability control malfunction, while Kia recalled 463,000 Telluride SUVs due to an electric motor that could overheat and burn the front seats.
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NASA awarded millions of dollars worth of contracts to space companies including SpaceX, Blue Origin, and Lockheed Martin to collect and return samples from Mars.
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More good news for Moderna: A late-stage trial showed Moderna’s Covid-flu combination vaccine was more effective than standalone vaccines for certain variants and age groups.
Financial planner tip of the day
"Depending on your employment circumstances, there are many possible retirement plans in which you can invest money for retirement. Some are offered by employers, others can be set up by an individual. Likewise, the benefits for each of the available retirement plans differ, though they all share one positive attribute: Investing in them is an important step in saving for retirement."
Brian Walsh, CFP® at SoFi