Thursday,
August 29, 2024
Market recap
Dow Jones
41,091.42
-159.08 (-0.39%)
S&P 500
5,592.18
-33.62 (-0.60%)
Nasdaq
17,556.03
-198.79 (-1.12%)
Top Story
Home prices are rising, but these cities are bucking the trend
Home prices reached a new record in June, but costs in some cities are moderating. Hereās the where and why.
US stocks finished lower on Wednesday
• Chipmakers pulled back ahead of NVIDIAās highly anticipated earnings report due after the closing bell.
• The 30-year fixed mortgage rate fell to 6.44% last week, the lowest level since April 2023.
What to be on the lookout for today
• The second estimate of the second-quarter U.S. GDP growth, along with the weekly update to first-time unemployment claims.
• It will be a big day for retail earnings, with American Eagle, Best Buy, Birkenstock, Burlington Stores, Dollar General, Lululemon, and Ulta Beauty set to report, as well as tech giants Dell and Marvell Technology.
Looking ahead into fall for investors and the markets
Labor Day weekend is ahead and fall is around the corner. This isnāt just significant for the color of leaves, thereās some expected seasonality in the markets too.
āWhy? For starters, the summer vacation cycle ends and people go back to their desks to trade stocks again,ā writes SoFi Head of Investment Strategy Liz Young Thomas in this weekās column.
September is one of the most active trading months on the calendar, and activity can also breed volatility. Not to mention, itās an election year, and everyoneās senses are heightened as we look ahead to November 5.
āThis year is in the unique position of having multiple forces line up to make fall an interesting period,ā says Young Thomas. Hereās where this is leaving investors heading into the fall.
Todayās top stories
Why certain Americans are losing sleep over Social SecurityNearly two out of five middle-class Americans nearing retirement are concerned that Social Security benefits will dry up in their lifetime.
Read more >> One city has a potential fix for urban food desertsLow-income neighborhoods in some cities are facing limited food access as supermarkets shutter underperforming locations, but this Midwestern city is weighing a unique solution.
Read more >> What does a diversified portfolio look like?Instead of putting all of your money into one investment or a single asset class like stocks or bonds, diversification spreads your money out across a range of securities.
Read more >>Other news that caught our eye
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LEGO plans to make its signature plastic bricks with renewable, recycled plastic by 2032, replacing the cheaper fossil fuels currently used.
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The number of publicly available EV chargers in the U.S. has doubled under the current administration, which awarded an additional $521 million to further expand charging infrastructure.
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Some retailers now charge a fee for cash back services, including Dollar General, Dollar Tree, and Kroger-owned supermarkets.
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Dunkinā released its fall menu later than in years past, including a $6 value meal to appeal to price-conscious consumers, as well as the Dunkalatte, its āfirst-ever coffee milk latteā.
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Pizza Hutās new pizza boxes fold into tables, aimed at Americans moving to new cities. The boxes are available in Charlotte, Dallas, and Orlando, all top moving destinations.
Financial planner tip of the day
āAn emergency fund is intended to be used at a momentās notice. For the most part, youāll hear that a healthy emergency fund should cover between three and six months worth of living expensesāwhich would include rent, mortgage, bills, food, and other essentials. And since you never know when an emergency might happen, itās best to keep your fund relatively liquid.ā
Brian Walsh, CFPĀ® at SoFi