Wednesday,
June 12, 2024
Market recap
Dow Jones
38,747.42
-120.62 (-0.31%)
S&P 500
5,375.32
+14.53 (+0.27%)
Nasdaq
17,343.55
+151.02 (+0.88%)
Top Story
The strong US dollar is making traveling abroad cheap
If you feel like every other person you talk to is planning a trip abroad, the strong U.S. dollar is certainly helping them. But that’s not all — the global economy has something to say about it, too.
The S&P 500 and Nasdaq Composite inched higher to fresh record closes
• It’s a big day for the market with key inflation data and the Federal Reserve’s interest rate decision.
What to be on the lookout for today
• We’ll also get quarterly economic projections from the Fed, as well as the weekly update to the 30-year mortgage rate.
• In earnings, Broadcom and Dave & Busters will report.
How college students can make the most of their summer
Summer can be a very productive time, especially for college students who are off from studying. Don’t worry, you can still have fun in the sun, but you might use the break to gain work experience, learn new skills, or establish professional contacts.
Maximize your summer
Taking summer classes can help you get ahead of your required credits, or lighten your course load during the school year. And if you receive aid through FAFSA, it can usually be used to help cover the costs of summer classes as well.
Meanwhile, gaining work experience can help pad your bank account, but the experience can help build your resume, teach you new skills, and give you first-hand experience of a specific industry. Volunteering can also help you gain experience.
Networking can help you land a job after graduation, so making connections while still in school is a good idea. Reach out to alumni in fields you’re interested in this summer, or try to find a mentor.
Today’s top stories
Are mergers to blame for higher hospital bills?With more M&A and fewer choices, prices tend to go up. Is this what happened in America’s healthcare industry?
Read more >> Why AI and finance could be a tricky matchAI is everywhere. But it’s also very complex. So what happens if it gets used in industries that are used to a lot of regulation and oversight?
Read more >> Monetary policy 101 — a Fed primerWith the Fed’s interest rate decision on the docket for later today, let’s review some basics of monetary policy and why it’s worth paying attention to it.
Read more >>Other news that caught our eye
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Delta Air Lines will bring premium economy to certain domestic flights as sales for premium options grow faster than standard economy.
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May was the most-watched start to the WNBA season ever, as well as the league’s most-attended opening month in 26 years, driven by the popularity of rookies Angel Reese and Caitlin Clark.
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Apple jumped into the AI race with Apple Intelligence, a suite of AI-powered features launching this fall, and partnered with OpenAI to integrate ChatGPT with Siri. The tech giant also announced it will integrate Affirm’s buy now, pay later loans into Apple Pay later this year, sending Affirm’s stock soaring by more than 11%.
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Bill Gates’ energy company TerraPower is building a nuclear power plant in Wyoming that uses sodium rather than water for cooling.
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General Motors raised its quarterly dividend and authorized a $6 billion share buyback program, boosting its share price.
Financial planner tip of the day
"One important thing to understand about investing is the tradeoff between risk and reward: you cannot have one without the other. Higher risk generally should come with a possibility of higher reward, and that risk usually comes in the form of volatility. Because higher-risk assets can go through periods of significant downside, they are generally only recommended for money that you won’t need for a while."
Brian Walsh, CFP® at SoFi