Top Story
Costco is doubling down on precious metals
Following its “gold rush”, Costco has added platinum bars to its shelves. Here’s what you should know before buying.
US stocks finished higher on Tuesday
• U.S. oil prices fell more than 4% despite lingering geopolitical uncertainty in the Middle East, sending shares of oil stocks sharply lower.
• Shares of Palantir Technologies jumped 6.6% to a record high on several separate bullish analyst reports.
• The U.S. trade deficit narrowed sharply in August as exports rose to a record high, while uncertainty among small business owners rose to the highest level on record in September, per the NFIB Small Business Optimism Index.
Here’s what to be on the lookout for today
• The minutes from the Fed’s September meeting. We’ll also get wholesale inventories for August and the weekly update to the 30-year fixed mortgage rate.
What is alternative investing?
Investing is about much more than just stocks and bonds. Alternative investments, for example, are different from these traditional investment types.Â
Some of the biggest alternatives out there are real estate, private investments (such as private equity or private credit), and commodities. Want to invest in some farmland? That’s alternative investing. Planning to buy gold bars? Same story.
One key characteristic of alts? They tend to be less correlated with the stock market. That means they can help diversify an investment portfolio.
However, most alternative investments are also illiquid, meaning you likely can’t pull your money out of them as quickly. This is especially true in comparison to more conventional securities like stocks and bonds. Like with all investments, it’s important to keep in mind your own risk tolerance before making your investing decision.
Check out SoFi’s Guide to Alternative Investments to learn more.
Today’s top stories
Venus Williams shares her take on what success really looks likeThe tennis superstar dishes on her expenses, investing strategy, and why owning a home isn’t for everyone
Read more >> How do index funds work?Index investing is a strategy where you buy shares of an index fund that mirrors a market index like the S&P 500. Here’s what you need to know to get started.
Read more >>Other news that caught our eye
-
Walmart is swapping health clinics for pet service centers. After ending its retail health business, the company plans to open five “PetIQ” locations in the coming weeks.Â
-
U.S. antitrust regulators haven’t broken up a company in four decades. Now they are looking closely at Google-parent Alphabet, Live Nation, and Meta.
-
Amazon has sold its cashierless technology “Just Walk Out” to roughly 200 third-party retailers as it pivots away from building brick-and-mortar stores.
Financial planner tip of the day
“Lenders want to see accounts maintained in good standing for a long time. When debt accounts are closed, though, that history ends, and eventually closed accounts drop off the credit report entirely. A credit history looks better when it has a solid number of accounts in good standing that have been open for a long time.”
Brian Walsh, CFP® at SoFi