Tuesday,
August 13, 2024
Market recap
Dow Jones
39,357.01
-140.53 (-0.36%)
S&P 500
5,344.39
+0.23 (+0.00%)
Nasdaq
16,780.61
+35.31 (+0.21%)
Top Story
3 Things That Make Americans Feel Left Behind in This Economy
The economy is changing, and with three key buckets of how to create wealth feeling out of reach for many, Americans are feeling left behind.
US stocks finished mixed on Monday
• Markets calmed down following their most volatile week of 2024 and ahead of several key economic reports in the coming days.
• Consumers’ outlook on where inflation will be in three years hit a record low in July, according to the New York Fed.
What to be on the lookout for today
• Wholesale inflation for July.
• In earnings, FanDuel-parent Flutter Entertainment, Home Depot, and shoemaker On Holding will report.
What should you do with big market news?
In some cases, nothing. In our world of fast information and social media, it can be tempting and even instinctive to react immediately. But when it comes to investing, making decisions based on headlines can be a risky move. In other words, market news doesn’t always require action.
For investors, it’s important to keep a clear understanding of your financial goals and long-term objectives. Big market news can trigger emotional responses, such as panic and excitement, that can lead to poor decisions such as selling out of fear during a downturn or buying in a frenzy when the market is overheated.
By building a diversified portfolio, you can help mitigate risks throughout the market cycle, while keeping up with your long-term goals.
Join Head of Investment Strategy Liz Young Thomas this Wednesday as she breaks down exactly what's going on with today's inflation, recent economic data, and market volatility.
Can’t make it this week? Don’t worry, register anyway to receive all the resources and a recording of the event.
Today’s top stories
What if your job was guaranteed?You may know about universal basic income (UBI), but have you heard of universal basic employment? A pilot program coming to the U.S. will guarantee people’s work, pay, and benefits. Here’s what the program sets out to achieve.
Read more >> Do you have a financial safety net?Building an emergency fund might seem daunting, but these six steps can simplify the process and help you achieve the financial cushion you need to stay out of debt.
Read more >>Other news that caught our eye
-
Roughly 3 in 5 Americans wrongly believe the U.S. is in a recession, according to a survey by buy now, pay later firm Affirm.
-
Taylor Swift is headed to WhatsApp. Universal Music Group inked a deal to allow music by its artists — including Swift, Adele, and Drake — to be shared across all Meta Platforms apps.
-
Disney will invest tens of billions in expanding its theme parks after the division’s profit dipped last quarter. The new projects include four cruise ships, a villains-themed Magic Kingdom land, and attractions inspired by franchises like Cars, Indiana Jones, and Monsters, Inc.
-
NVIDIA will train California residents to use AI to create jobs, solve problems, and innovate as part of a new partnership with the state’s government.
-
Locked-up merchandise in retail stores is driving shoppers online, because the anti-theft measure is adding inconvenience to in-person shopping.
Financial planner tip of the day
“The best time to invest is when you’re prepared; you know you’re in it for the long haul; you have the funds; you understand your risk tolerance, and you’ve identified your financial goals. When these fundamentals are in place for the long term, the market’s short-term ups and downs become far less relevant. The best time to invest is when you start.”
Brian Walsh, CFP® at SoFi