Monday,
September 16, 2024
Market recap
Dow Jones
41,393.78
+297.01 (+0.72%)
S&P 500
5,626.02
+30.26 (+0.54%)
Nasdaq
17,683.98
+114.30 (+0.65%)
Top Story
This budgeting rule has become much harder to follow
Conventional wisdom says don’t spend more than a third of your income on housing. But is that still realistic today? Millions of Americans think otherwise.
US stocks rose on Friday
• All three major indexes finished the week higher, as key inflation reports raised hopes for an interest rate cut at the Federal Reserve’s meeting this week.
• Consumer sentiment rose for the second month in a row, according to the University of Michigan Survey of Consumers.
What to be on the lookout for today
• A measure of business activity in New York.
Planning a baby? Here are some money matters to keep in mind
If you’re planning to expand your family, you may have a lot on your mind. Money matters may (or should) be part of that.
While many of us are aware of the high cost of childcare, there are more immediate bills you will want to keep in mind.
Baby’s first bills. Whether you’re hoping to conceive naturally, using IVF, or adopting, understanding the benefits your employer and insurance carrier offer can be key to keeping your costs in check.
Prenatal care and childbirth. Knowing what your health insurance covers is key here. And it’s not just about whether the basics are covered. Depending on your plan, you may be able to receive insurance-covered physical therapy during pregnancy and after delivery. Make sure you find out.
Another number to know: your out-of-pocket maximum. Childbirth and hospital stays can be very expensive, and you want to know what could come at you.
Potential big-ticket expenses. Babies come with a lot of gear. Acquiring it is a cost in itself, but also keep in mind if you need to update things in your life, such as your car to accommodate the new arrival.
Find more budgeting for baby tips here.
Today’s top stories
The Fed is finally going to cut ratesThe week we’ve all been waiting for is finally here: The Federal Reserve is expected to cut interest rates for the first time in years. Here’s what’s ahead on Wall Street.
Read more >> Want a smoother ride to work?Rideshare giant Lyft compiled a list of the best cities for commuters.
Read more >> How to choose an exchange-traded fund (ETF)There’s no right or wrong way to pick an ETF, but these guidelines can help you determine which security may be the best fit for you.
Read more >>Other news that caught our eye
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Boeing’s woes continue. Tens of thousands of Boeing machinists went on strike after rejecting the aircraft manufacturer’s contract offer by a vote of nearly 95%.
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U.S. companies are cracking down on shoplifting, and it’s working. Major retailers like Target are reporting better-than-expected shrinkage after closing stores in high-theft areas.
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United Airlines plans to offer free Wi-Fi on all of its flights next year, thanks to a partnership with SpaceX’s satellite internet subsidiary Starlink.
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Amazon raised its average national pay for contract delivery drivers from $20.50 to $22, as unionization efforts among its drivers grow.
Financial planner tip of the day
“Working to improve a credit score before applying for a home loan could save a borrower a lot of money in interest over time. Lower rates will keep monthly payments lower or even provide the ability to pay back the loan faster.”
Brian Walsh, CFP® at SoFi