Friday,
September 13, 2024
Market recap
Dow Jones
41,096.77
+235.06 (+0.58%)
S&P 500
5,595.76
+41.63 (+0.75%)
Nasdaq
17,569.68
+174.14 (+1.00%)
Top Story
While the U.S. economy has plenty of problems of its own, a comparison to its European peers shows just how strong it continues to be.
• The S&P 500 and Nasdaq both recorded their fourth-straight winning day.
• Wholesale inflation rose 1.7% in the year ending in August as inflation continues to come down.
• A preliminary reading of consumer sentiment for September from the University of Michigan.
Different lifestyles and preferences come with different price tags. For some people, the answer to staying true to their budget and financial goals is to lead a minimalist lifestyle, especially when it comes to their home.
Adjust for your phase of life. Depending on the phase of life you’re in, your spending and needs will look different. A family with young children at home has different needs for space and budget than a single person whose children have moved out.
Is it time to downsize your home? Whether you rent or own your home, housing costs are likely a big part of your monthly expenses.
There’s a rule of thumb that housing costs shouldn’t exceed a third of your budget. And while that number can fluctuate depending on location and other circumstances, spending a majority of your monthly income on housing could be a sign to downsize.
Viewers of this year’s VMAs had the unique opportunity to shop their favorite looks in real time, as live shopping technology could change how networks and streaming platforms make money.
Read more >> Cruise lines are setting sail for uncharted watersDemand for cruises is growing among younger generations, and companies are exploring new ways to capitalize.
Read more >> Furnishing a new place can come with a hefty price tagHere are 25 ways to create a space you love without draining your bank account.
Read more >>Other news that caught our eye
Housing costs are still rising faster than overall inflation. In the 12-month period ending in August, shelter prices accounted for more than 70% of the core CPI’s gain.
McDonald’s extended its value meal deal again. The $5 value meal will now be available into December at most U.S. locations.
Apple is under fire from content creators. The tech giant will charge a fee of up to 30% for in-app purchases made on Patreon, joining platforms like Instagram, Substack, and YouTube, and stoking growing outcry from influencers and creators.
Wall Street is looking to limit overtime hours for young workers. JPMorgan, for example, plans to cap junior investment bankers’ hours at 80 per week, more than double the average workweek.
Financial planner tip of the day
“What your goals are will largely determine whether or not long-term investing is the right choice for you. So you might want to spend time outlining what you want to achieve—which may depend on your life stage—and how much money you’ll need to achieve it.”
Brian Walsh, CFP® at SoFi