Top Story
Is the dollar still the world’s number one currency?
Central banks around the world are diversifying. Here’s what that means for the U.S. dollar’s status as the number one reserve currency, and how it matters to Americans.
US stocks ended a record-breaking week mixed on Friday
• Shares of Google-parent Alphabet closed at an all-time high.
• The Japanese yen hit a new 34-year low against the U.S. dollar.
• Existing home sales in May inched 0.7% lower, and the median price of an existing home sold hit a record high of nearly $420,000.
What to be on the lookout for today
• The Dallas Fed manufacturing index.
Moving to another state this summer? Here’s your checklist
Moving requires a lot of time, energy, planning, and money, especially when you’re moving out of state.
You know we love a budget, and creating one specifically for your move would be a great way to start. Be sure to account for packing supplies and transportation expenses. If you need to hire a moving company, get a few estimates and ask for discounts before you sign a contract.
Becoming a local
Find new providers…and cancel old ones. Give utility providers like water, gas, and electric, as well as cable and internet providers a date to cut off services. Next, do some research to find provider options in your new location and set up a start date. Don’t forget to cancel or move your local memberships, such as your gym, and update your address for deliveries and billing.
Get to know the tax situation. Not all states have the same tax systems. Know the contours of the tax regime of your new home state and how it will affect you. Also check if you’ll have to file a part-year resident tax return in your old and new state the next time you do your taxes.
Become a local. After all that’s out of the way, and at least some of your boxes are unpacked, enjoy immersing yourself in your new city, finding your go-to stores and restaurants, and settling in.
Today’s top stories
Keeping up with the housing marketA country’s housing market tells you a lot about its economy. With a bunch of housing data due in the coming week, it’s time to take stock. This is what’s ahead on Wall Street.
Read more >> From mouse “jigglers” to monitoringAlong with more flexibility, remote work has made employers more skeptical of their workers, and employees more sophisticated in masking their less productive moments in the day. These are the realities of the remote and hybrid workplace.
Read more >> How to live with student loan debtAmericans owe a whopping $1.77 trillion (including federal and private loans), with an average balance of more than $40,000. So how do you live (and thrive) in spite of student loan debt?
Read more >>Other news that caught our eye
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SpaceX announced a backpack-sized device providing high-speed internet on the go, priced at $599 plus monthly data charges.
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Amazon is transitioning to using fully recyclable paper fillers in its packaging as part of a push to use roughly 15 billion fewer plastic pillows annually.
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Record July 4th travel is expected this year, with 71 million people on the move.
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U.S. car dealers are reeling after this week’s cyberattack on a commonly used software provider, which caused outages across the nation, leading car dealers to guess credit worthiness and hand-write contracts.
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In other cyber news, the White House blocked U.S. sales of software from Russian cybersecurity firm Kaspersky Lab, citing national security concerns.
Financial planner tip of the day
“Setting a financial goal is all about having your money serve you. When a budget is too harsh and punitive, you might wind up making impulse buys or otherwise overspending. If you know you have some cash stashed for mood-lifting purposes, you can stay on track.”
Brian Walsh, CFP® at SoFi