Tuesday,
July 30, 2024
Market recap
Dow Jones
40,539.93
-49.41 (-0.12%)
S&P 500
5,463.54
+4.44 (+0.08%)
Nasdaq
17,370.20
+12.32 (+0.07%)
Top Story
Why Americaās renters are growing weary
With home prices at an all-time high, renters who are dreaming of owning a home are feeling priced out of the market. Could September bring light at the end of the tunnel?
US stocks finished mixed on Monday as investors prepared for another busy week
• With a Federal Reserve interest rate announcement, jobs numbers, and plenty of earnings waiting in the wings, it was a quiet start to a busy week.
What to be on the lookout for today
• The Conference Boardās consumer sentiment survey and job openings from the Bureau of Labor Statistics.
• It will be a blockbuster day in earnings, headlined by Microsoft, which will be joined by AMD, BP, Electronic Arts, JetBlue, Live Nation, Merck & Company, PayPal, Pfizer, Procter & Gamble, and Starbucks.
What to know before investing in CDs
If youāre looking to invest any extra cash, you have a lot of options that may line up with your financial goals.
From high-yield savings accounts that leave your money accessible, to longer-term investments, there are a lot of options. Letās take a closer look at Certificates of Deposits, or CDs.
A CD is a type of savings account that offers a specific interest rate for a set period of time. The time terms can range from a few months to several years. Generally, the longer the term, the higher the interest rate. There are also variable-rate CDs that have an interest rate that can fluctuate over the term.
Pros and Cons
CDs may offer a higher annual percentage yield (APY) than other savings accounts or money market accounts.
CDs are also generally considered a safe investing option, particularly if you opt for an FDIC-insured bank.
On the other hand, CDs arenāt very liquid and you could face a penalty if you take your money out before the end of the term.
If thereās a chance you need to access your money at short notice, a CD might not be the best option. In that case, a high-yield savings account or money market fund may be a better fit.
Always evaluate your investing options based on your individual financial needs and goals.
Todayās top stories
Southwest got rid of open seating. Hereās why that mattersThe discount airline was the last holdout in an industry that feels increasingly uniform.
Read more >> Will the Olympics be a gold medal for Peacock?With the exclusive rights to stream the Paris Olympics, Peacock could earn millions of new subscribers in the coming weeks ā but whether it can retain them is another question.
Read more >> How to budget when your income fluctuates?Budgeting can be a challenge, but itās even harder if your income changes month-to-month. Hereās how you can still make it a success.
Read more >>Other news that caught our eye
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Halloween in July? Major retailers are rolling out candy and decor early to capitalize on the holiday.
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Speaking of candy, cocoa futures fell to a four-month low despite tepid demand as supply is projected to rebound next season.
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Krispy Kreme wants to supply your Olympics watch party snacks with a Team USA-themed donut collection and two promotions this week.
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McDonaldās global sales fell for the first time in four years last quarter as consumers were pickier where they spent their money.
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Apple struck its first-ever union deal, reaching a tentative labor contract with workers in an Apple Store in Maryland.
Financial planner tip of the day
āGetting mortgage pre-approval can help you in the homebuying process, especially in a hot housing market. This can both show youāre a serious buyer and provide you a better sense of your budget as you begin house hunting.ā
Brian Walsh, CFPĀ® at SoFi