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Olympian Gabby Douglas on why she almost quit gymnastics
Gabby Douglas isn’t just an amazing gymnast, she also makes savvy financial decisions, as she said on SoFi’s YouTube series Richer Lives.
US stocks inched higher on Wednesday
• Investors remained cautious as geopolitical tensions escalated.
• Private sector jobs grew by 143,000 positions in September, the first increase seen in five months, while wages grew nearly 5%, according to the ADP National Employment Report.
• The 30-year fixed mortgage rate ticked up to 6.14% last week, marginally higher than the two-year low it hit in the week before.
Here’s what to be on the lookout for today
• Factory and durable goods orders for August.
• We’ll also get first-time unemployment claims for last week.
• In earnings, brewery conglomerate Constellation Brands will report.
Can investors avoid all geopolitical risks?
Investing comes with certain risks. Some revolve around the types of investments and asset classes you choose (and they should be appropriate for your financial situation and goals). And then there are the big external shocks, like a pandemic, that are hard to predict but can have broad effects.
In this week’s investment strategy column, senior analyst Mario Ismailanji looks into oil prices, their reaction to escalating tensions in the Middle East, and their past reactions to geopolitical shocks. While not everybody invests in commodities, energy costs are connected to all parts of the economy, and a sudden increase in prices can have serious repercussions.
Today’s top stories
More Americans are getting paid on commissionIncentive-based pay is becoming more common across non-sales departments.
Read more >> How to avoid paying full price for anythingHere are 15 tips to help you become a more savvy shopper.
Read more >>Other news that caught our eye
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CVS is considering spinning off some of its businesses, such as insurer Aetna or pharmacy benefit manager Caremark.
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Auto sales are lagging behind pre-pandemic levels amid high borrowing costs and sticker prices — and the ongoing dockworkers strike could dent them further.
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Apple is being accused of violating workers rights by forcing workers to sign non-compete and non-disclosure agreements, and undermining organization efforts, according to accusations by the U.S. National Labor Relations Board.
Financial planner tip of the day
“For individuals who want to invest in the markets and not think about it, then the broad exposure—and generally lower fees—offered by index funds may make sense. Investing in index funds tends to work best when you hold your money in the funds for a longer period of time, or use a dollar-cost-average strategy, where you invest consistently over time to take advantage of both high and low points”
Brian Walsh, CFP® at SoFi