Friday,
September 20, 2024
Market recap
Dow Jones
42,025.19
+522.09 (+1.26%)
S&P 500
5,713.64
+95.38 (+1.70%)
Nasdaq
18,013.98
+440.68 (+2.51%)
Top Story
There’s a new plan to make housing more affordable
The housing affordability crisis has put pressure on Americans across the income spectrum. A new policy proposal aims to provide relief.
US stocks finished higher on Thursday
• The Dow and the S&P 500 both logged new record highs, and the Dow surpassed 42,000 points for the first time ever as the market digested the Federal Reserve’s interest rate cut news.
• The number of Americans filing for first-time unemployment benefits hit a four-month low, but remained above averages seen earlier this year.
Here’s what to be on the lookout for today
• It’ll be a quiet day to end the week, with nothing notable on the calendar.
What is doom spending?
Have you ever found yourself spending a little more money when you’re having a bad day? Or treating yourself a little more during a stressful time. There’s a term for it: Doom spending.
Spending money to boost your mood rather than thinking about long-term planning or savings is common.
But here’s the thing: While little treats can bring a temporary reprieve to all the noise around you, it can cause some long-term damage to your finances if this behavior becomes chronic.
How to combat doom spending
Stop the impulse. Online shopping is convenient… a little too convenient. Little steps, like deleting your saved credit card information from retailers’ websites can give you extra time to evaluate the necessity of a purchase.
When shopping in-person, trying to only use cash can have a similar effect.
Budget for doom spending. You know your behavior best. If doom spending is something you do often, make sure your budget allows for it.
Today’s top stories
Big news from Apple could make it even easier to pay for things with your phoneThe company just announced it’s opening the technology that powers Apple Pay to outside developers.
Read more >> Daydreaming about your next home improvement project?We’ll dig into the key differences between renovation and remodeling and how to decide which is best for your needs.
Read more >>Other news that caught our eye
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Olive Garden-parent Darden Restaurants is teaming up with Uber Eats to offer home delivery options at select locations later this year, aiming to expand to all U.S. locations by mid-2025.
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Netflix users watched 94 billion hours of content in the first half of 2024, up from the prior six-month period, said company CEO Ted Sarandos.
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Amazon will provide free Prime memberships to U.S. warehouse workers and drivers. The company also raised wages, pushing the average starting salary to more than $22 per hour.
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The U.S. passport renewal process is going digital, which should expedite the process from the traditional six- to eight-week wait time.
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United Airlines does not expect corporate travel to return to pre-pandemic levels, according to the carrier’s CCO comments at a recent travel industry conference.
Financial planner tip of the day
“You may not be able to completely reform an overspending habit overnight. But by tracking your spending, setting up a basic budget, and altering some of your everyday habits, you may soon be able to gain control over your financial life, and start reaching your short- and long-term savings goals.”
Brian Walsh, CFP® at SoFi