Friday,
June 14, 2024
Market recap
Dow Jones
38,647.10
-65.11 (-0.17%)
S&P 500
5,433.74
+12.71 (+0.23%)
Nasdaq
17,667.56
+59.13 (+0.34%)
Top Story
Disengaged at work? It could cost the global economy trillions
Workers around the world are reporting feeling lonely, sad, and stressed on the job ā and itās having a major impact on global GDP.
The S&P 500 and Nasdaq Composite climbed to record closes for the fourth consecutive day Wednesday
• The Nasdaqās advance was helped by a 3.5% gain in NVIDIA shares. Chipmaker Broadcomās stock surged more than 12% after announcing a 10-for-1 stock split.
• Tesla stock jumped 2.9% ahead of the companyās annual shareholder meeting.
What to be on the lookout for today
• Consumer sentiment for June from the University of Michigan.
How homeownership can set you on a wealth-building path
Buying a home can be a powerful tool to build generational wealth for your family.
Hereās how: Your home equity grows the more you pay down your mortgage and the less you owe your bank. Your homeās value may also increase over time.
To determine how much equity you have in your home, subtract how much you owe from its value.
Boosting household wealth
Homebuyers who put down a larger down payment own more of their home from the get go. But there are other ways to grow value too, such as strategic upgrades over time.
Building equity doesnāt only mean you own more of your home, it also allows you to borrow against it through a home equity line of credit (HELOC). You can then use those funds to make renovations and repairs to increase the homeās worth.
Todayās top stories
AI has been generating millionairesThe artificial intelligence boom in the stock market has helped mint hundreds of thousands of new millionaires in the U.S.
Read more >> Activist investors take course on ESGThe number of shareholder proposals pushing back on environmental, social, and governance initiatives has grown dramatically in the past years.
Read more >> What is impact investing and how does it work?This investment strategy aims to create both financial returns and positive social or environmental impact. Hereās what you need to know.
Read more >>Other news that caught our eye
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Good news on the inflation front: Wholesale prices unexpectedly declined 0.2% in May, another sign inflation is slowly cooling.
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American companies are hoarding cash. Corporate cash holdings hit a record $4.11 trillion in the first quarter, thanks to the resilient economy and high interest rates.
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Microsoft said itās responsible for its cybersecurity shortfalls after two hacking campaigns last year.
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Alphabet-owned Waymo will recall 672 self-driving cars after one of its vehicles collided with a utility pole in Phoenix last month.
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McDonaldās will no longer have exclusive rights to its āBig Macā trademark for chicken products in the E.U. per a court ruling.
Financial planner tip of the day
"Anyone who wants to flex good financial habits may find it worthwhile to come up with a debt repayment plan. In an ideal world, this might mean paying off credit card balances in full and making all other necessary debt payments on time, such as mortgage installments and student loan payments."
Brian Walsh, CFPĀ® at SoFi