Friday,
June 21, 2024
Market recap
Dow Jones
39,134.76
+299.90 (+0.77%)
S&P 500
5,473.17
-13.86 (-0.25%)
Nasdaq
17,721.59
-140.64 (-0.79%)
Top Story
Artificial intelligence, automation, robots. Are they really taking over our jobs? Not quite, and perhaps not yet, but three in five U.S. companies are looking to use technology to make workers more efficient and productive over the next year.
• The Nasdaq Composite broke its seven-day streak of record closes, led by a decline in NVIDIA, which briefly surpassed Microsoft as the most valuable company in the world during Tuesday trading.
• The S&P 500 also declined after briefly topping 5,500 points for the first time in its history.
• In economic news, housing market construction slowed in May, as building permits fell 3.8% and housing starts declined 5.5%.
• The manufacturing and services PMIs for June. Weāll also get existing home sales for May.
• In earnings, CarMax will report.
With the first half of the year in the rearview, itās an ideal time to check in on year-to-date market activity and recalibrate for the rest of 2024.
On the most recent episode of The Important Part podcast, SoFiās Head of Investment Strategy Liz Young Thomas shares her detailed outlook for the second half and responds to listener questions including:
• What have been the biggest surprises so far this year?
• What sectors of the market could do well in the second half?
• Does the 60/40 portfolio still work?
• What does the election year mean for the stock market?
Listen and subscribe to The Important Part on Apple, Spotify, or wherever you get your podcasts.
The price of bacon is rising even as other pork productions are getting cheaper. We look at food prices and āporkonomicsā to get to the bottom of it.
Read more >> Reality TV stars need to budget tooBrynn Whitfield from the Real Housewives of New York had to learn the hard way that you still need to budget when youāre on TV. She talked about her lessons learned and who in the āBravoverseā sheād call for advice on SoFiās YouTube series Richer Live$.
Read more >> Itās witching hour in the marketEvery third Friday in March, June, September, and December, several investment derivative contracts expire at once. This is known as āquadruple witching,ā and can lead to volatility in the markets.
Read more >>Other news that caught our eye
New York became the first U.S. state to regulate social media algorithms and restrict data collection and use for minors without consent after the stateās Governor signed two bills into law Thursday.
McDonaldās will offer a limited-time $5 value meal starting June 25th to bring back customers who have grown more cost-conscious due to high inflation.
Target plans to roll out an AI-powered store chatbot to help employees answer questions about the company's processes and procedures.
Netflix is launching Netflix House, an immersive entertainment venue inspired by its original series and films, in two former department stores in Pennsylvania and Texas.
Thousands of U.S. car dealerships ground to a halt Wednesday following a cyberattack on a major software provider used by car dealers.
Financial planner tip of the day
"With investing there is a relationship between risk and return. Investments with higher expected returns come with substantial volatility along the way. It is important to consider your ability to ride through the volatile times and not just focus on potential returns."
Brian Walsh, CFPĀ® at SoFi