Tuesday,
July 23, 2024
Market recap
Dow Jones
40,415.44
+127.91 (+0.32%)
S&P 500
5,564.41
+59.41 (+1.08%)
Nasdaq
18,007.57
+280.63 (+1.58%)
Top Story
Here’s what happens when you have $1,000 extra
Critics of Universal Basic Income worry about worker shortages, and handouts. But OpenAI CEO Sam Altman backed a years-long study that found very different outcomes.
US stocks rebounded on Monday
• Tech stocks bounced higher, including a near 5% jump of NVIDIA shares and rallies of the so-called “Magnificent Seven” stocks, including Alphabet, Meta.
What to be on the lookout for today
• Shares of CrowdStrike continued to fall, tumbling another 13.5% following Friday’s worldwide IT outage.
• Existing home sales for June.
• It will be a busy day for earnings, with Google-parent Alphabet, Capital One, Coca-Cola, Comcast, GE Aerospace, General Motors, Lockheed Martin, Mattel, Spotify, Tesla, Texas Instruments, UPS, and Visa all reporting.
Are you ready to launch a small business?
Ready to walk away from your day job and become your own boss by starting a business?
America has millions of successful small businesses. But let’s look before we leap.
From dream to reality
You’ve a great idea. Do your market research before investing your time and money in launching a business to ensure its viability. You might think your idea is novel, but it could turn out that there are other businesses already offering what you’re planning to sell.
Create a roadmap. Get your great idea onto paper. A business plan will help guide the launch of your company. It will likely include a description of the business and its products or services, goals, growth plans, expenses, market research, potential marketing and financial projections.
Build the budget. It takes money to launch a business, but you also have to maintain it. Estimate your startup costs by calculating expenses which could include leasing a space, purchasing equipment and supplies, payroll, marketing, insurance, and licenses. Having a realistic budget can help you manage your costs more effectively.
Once you have these building blocks in place, you can look for financing.
Today’s top stories
A postmortem on Friday’s IT chaosA faulty software update affected more than 8 million devices last week, disrupting thousands of flights, business operations, and emergency services worldwide. Now estimates of what that may have cost are rolling in.
Read more >> What’s the latest with federal student loan forgiveness?The government’s Save for a Valuable Education (SAVE) program is halted and participants have been placed in forbearance following a federal appeals court ruling.
Read more >> Want to get better at managing money?Everyone goes over their budget now and then. These six simple strategies can help you get your finances back on track.
Read more >>Other news that caught our eye
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The EPA is awarding $4.3 billion total in grants to 25 projects targeting greenhouse gas emissions across 30 states.
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Thousands of Disneyland employees voted to authorize a strike protesting alleged unfair labor practices.
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Treasury Secretary Janet Yellen will face questions over U.S. policy commitments at the meeting of G20 finance leaders in Brazil this week after President Joe Biden’s withdrawal from the 2024 presidential election.
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Exploding soda cans have injured 20 Southwest flight attendants. The airline is blaming the summer heat.
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Korean Air announced orders for 40 Boeing wide-body jetliners with the option to add 10 more, signaling faith in the beleaguered aircraft manufacturer.
Financial planner tip of the day
"One of the key rules to remember in your 20s is that time can either be your best friend or worst enemy. Make time your best friend by starting investing early so your money has more time to grow."
Brian Walsh, CFP® at SoFi