Monday,
July 22, 2024
Market recap
Dow Jones
40,287.53
-377.49 (-0.93%)
S&P 500
5,505.00
-39.59 (-0.71%)
Nasdaq
17,726.94
-144.28 (-0.81%)
Top Story
America’s report card: It’s GDP week!
This week, we’ll get a look at how the economy fared in the second quarter of the year, which will put softening labor market and inflation data, as well as company earnings in perspective. This is what’s ahead on Wall Street.
US stocks finished lower on Friday
• For the week, the S&P 500 fell and recorded its worst week in three months, the Nasdaq Composite both broke a six-week winning streak, and the Dow Jones finished slightly higher.
What to be on the lookout for today
• The Chicago Fed National Activity Index for June.
• Verizon will also report earnings.
What happens when you inherit a house?
Inheriting a property can be a huge gift, but it can also come with a lot of financial and legal responsibilities.
Try to find out as much as you can about the house, its condition, its value, and whether there are any co-inheritors.
Getting everything in order. You won’t actually own the home until your name is on the deed. Call the insurance company to have the homeowners policy updated or find your own coverage. Also inform utility companies of any changes and cancel any unnecessary charges, like cable or internet, if no one is living in the house.
What’s owed on it. Find out if there’s a mortgage on the house, as well as what’s left and the interest rate. Also check to see if you owe property taxes.
What to do with it. You have a few options when it comes to what to do with the property. You could move in yourself, rent it out or sell it. An appraisal can help determine the house’s worth and what makes the most financial sense for you.
Today’s top stories
Hustle culture is out. Work-life balance is inHere’s how you can advance in your career without the non-stop hustle.
Read more >> A whopping 78% of Americans plan to watch the Paris Olympics on social mediaWith the biggest sporting event in the world set to play out on the smallest screens, influencers and TV networks are scrambling to capitalize on this trend.
Read more >> Why do earnings calls matter?Earnings season gets a lot of buzz. But why are the conference calls companies host during this time so important?
Read more >>Other news that caught our eye
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Thousands of flights were halted on Friday after a worldwide IT outage caused by a system’s issue at cybersecurity company CrowdStrike. CrowdStrike’s shares tumbled more than 11.1% on Friday.
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The Education Department is pausing student loan payments for millions of borrowers enrolled in the government’s SAVE repayment program while the relief program is facing legal challenges.
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Amazon Prime Day sales were dominated by practical purchases, including household and grocery items. Three of the top five products were protein shakes, liquid IV packets, and Glad trash bags, according to an initial report from Numerator.
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Costco is selling an “Emergency Food Bucket” complete with a 150-meal package designed to last up to 25 years. The package runs $79 online and up to $99 in-store, and includes more than 25,000 calories of freeze-dried meals like pasta alfredo and teriyaki rice.
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Netflix added more than eight million subscribers in the second quarter, bringing its total to nearly 278 million worldwide.
Financial planner tip of the day
“Your mortgage servicer is your primary point of contact for paying back your mortgage. It is essential that you know who your servicer is and where to send your mortgage payments. It is possible for the rights of servicing your mortgage to be transferred to another company. In this case, the terms of your mortgage won’t change, just the company that administers your mortgage.”
Brian Walsh, CFP® at SoFi