Wednesday,
July 31, 2024
Market recap
Dow Jones
40,743.33
+203.40 (+0.50%)
S&P 500
5,436.44
-27.10 (-0.50%)
Nasdaq
17,147.42
-222.79 (-1.28%)
Top Story
Is pet care immune to economic slowdowns?
Even though the cost of living is rising and many Americans try to spend less, spending on pets has risen dramatically over the past five years.
US stocks were mixed on Tuesday
• Chipmaker shares slumped ahead of a packed week of tech earnings, led by a more than 7% decline from NVIDIA.
• The Federal Reserve began its two-day policy meeting and will announce its July interest rate decision later today. Investors widely expect the Fed will hold rates steady before initiating rate cuts in September.
What to be on the lookout for today
• The Fedās interest rate decision. Weāll also get the weekly update to the 30-year mortgage rate.
• In earnings, ADP, Boeing, eBay, Etsy, Humana, Kraft Heinz, Marriott, Mastercard, Meta Platforms, Qualcomm, and T-Mobile.
Thinking outside the traditional investing box
If you want to diversify your investment portfolio, you may already be thinking outside the standard box of stocks and bonds. Enter alternative investments, which include assets such as real estate, venture capital, or even collectibles.
But do you ever think of agriculture as an investment option? That category falls under alts as well.
Alternative options
Agriculture. Investing in agriculture can take many shapes, from investing in farmland, to buying stocks in companies that provide services and products to the farming industry. You may also get access to investing in agricultural products, such as corn, grains, or dairy, through exchange-traded funds (ETFs) or mutual funds.
Commodities. Agriculture is a subset of the commodities sector, which also includes metals, such as gold, and energy products, such as oil and natural gas.
Because alternative investments are traditionally less correlated with the overall stock market, diversifying your portfolio with them may help you protect your investments against market woes over time.
Todayās top stories
How much do the Olympics cost?Having the Olympics in your backyard seems great. But host cities often overspend in the billions to make the games happen.
Read more >> Airbnb who? Homeowners have a new side hustleA new slate of rental companies allow Americans to make money off their properties in new, and perhaps surprising ways, from renting out their driveways, to giving dogs a āsniffā of their gardens.
Read more >> How do money affirmations work?Affirmations can help you reset your mind when it comes to achieving your goals. When it comes to finances, this trick can work too. Here are 39 money affirmations for financial abundance.
Read more >>Other news that caught our eye
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Amazon bears legal responsibility for recalls of hazardous products sold by third parties on its platform, per a decision by U.S. regulators.
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Hidden fees in air travel will live to see another day after a U.S. appeals court blocked the Transportation Departmentās ban on hidden fees.
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Delta Air Lines plans to seek damages from CrowdStrike and Microsoft after this monthās cyber outage led to mass cancellations of the airlineās flights.
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Air New Zealand became the first major airline to scrap its short-term climate target, citing delivery delays and the high price of sustainable fuel.
Financial planner tip of the day
āWhen shopping around for a checking account, consider your financial habits. If you shop frequently at certain retailers, it may be worth taking advantage of an account that offers discounts. Or if you use the ATM frequently, looking for a checking account that reimburses you for third-party ATM fees may be a smart choice.ā
Brian Walsh, CFPĀ® at SoFi