🐣 Eggflation is back

Thursday,
September 26, 2024

Market recap

Dow Jones

18,082.21

+7.68 (+0.04%)

S&P 500

5,722.26

-10.67 (-0.19%)

Nasdaq

41,914.75

-293.47 (-0.70%)

Boeing

$152.22

-$3.59 (-2.30%)

DoorDash

$143.93

+$2.25 (+1.59%)

NVIDIA

$123.51

+$2.64 (+2.18%)

Top Story

Eggflation is back

Inflation has cooled substantially in recent months to the great relief of many Americans. But while the pace of price increases has slowed overall, inflation is picking up for certain things.

US stocks mostly finished lower on Wednesday

• The Dow Jones Industrial Average and S&P 500 pulled back slightly from record highs.

• NVIDIA shares gained 2.2%, bringing the chipmaker’s market cap to more than $3 trillion.

• The 30-year fixed mortgage rate fell to 6.13%, roughly a two-year low.

Here’s what to be on the lookout for today

• The final estimate of the U.S. economy’s second-quarter growth rate, as well as the weekly update on first-time unemployment claims.

• In earnings, Accenture, CarMax, and Costco will report.

Why China’s massive central bank stimulus matters

The Federal Reserve made big moves last week, announcing the first interest rate cut since the start of the pandemic. This week, it was another central bank’s turn to shake things up.

SoFi Head of Investment Strategy Liz Young Thomas looks at the People’s Bank of China’s latest policy announcements, which are designed to stimulate its struggling economy and stock market. The Shanghai Composite stock index rallied in response.

But is this week’s action enough to get the world’s second largest economy out of the doldrums?

Today’s top stories

Major upgrades are coming soon to theaters

America’s eight largest movie theaters have announced a $2.2 billion theater renovation project.

Read more >>

Need to cut back on your monthly entertainment budget?

Here are 13 ways to save on your streaming services.

Read more >>

Other news that caught our eye

DoorDash may be getting out of the gig economy. The company is testing using hourly delivery drivers with benefits, rather than independent contractors, in two U.S. markets.
A U.S. Senate panel faulted Boeing’s quality control and FAA oversight in its ongoing investigation into the embattled aerospace manufacturer’s workplace culture.
East and Gulf Coast dockworkers are increasingly likely to strike in October, which could have a direct impact on the supply chain headed into the holiday season, per an Axios report.

Financial planner tip of the day

"If you have savings that is not currently earmarked for a specific financial goal, take some time to think about what goal you’d like to apply it to. A great first saving goal is to have three to six months of living expenses in an emergency fund. After that, it might be good to turn your attention toward retirement savings and investing."

Brian Walsh, CFP® at SoFi

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