Thursday,
October 10, 2024
Market recap
Dow Jones
42,512.00
+431.63 (+1.03%)
S&P 500
5,792.04
+40.91 (+0.71%)
Nasdaq
18,291.62
+108.70 (+0.60%)
Top Story
Are frequent job changes bad for your nest egg?
Changing jobs can help you secure a higher salary. But beware this downside for your retirement savings as you reassess your new financial situation.
US stocks finished higher on Wednesday
• The Dow Jones Industrial Average and the S&P 500 closed at record highs.
• The minutes from the Federal Reserve’s September meeting showed central bankers unanimously agreed to cut rates, supporting market expectations for additional cuts.
• The 30-year fixed mortgage rate rose to 6.36% last week, its highest level since August.
Here’s what to be on the lookout for today
• Consumer price inflation for September and last week’s first-time unemployment claims.
• In earnings, Delta Air Lines, Domino’s Pizza, and consumer packaged goods company Tilray Brands will report.
Is investing in gold boring?
Gold is having a moment. The precious yellow metal is sitting at record highs, but does that mean it’s a good time to invest?
First things first, why has the gold price climbed so far? Geopolitical tensions are partially to blame, as is high interest from the world’s central banks. So should individual investors follow suit?
“Average annual returns on gold are only 7.9%, while the S&P 500 has returned an average of 10.5% including dividends. From that perspective, gold appears to be a less risky and lower return asset than U.S. stocks,” writes SoFi Head of Investment Strategy Liz Young Thomas in this week’s column.
“But as “boring” as gold may seem, it has actually outperformed the S&P 500 on a year-to-date, 1-year, and 3-year basis. In this market cycle, it pays to be boring.”
Read her full take on the gold rally here.
Today’s top stories
America is growing even more pet-friendlyPet ownership in the U.S. is soaring and businesses are taking note and making changes.
Read more >> What’s the difference between an IRA and 401k?Both accounts can be powerful tools to help you save for retirement, but there are differences to consider when it comes to investment options, contributions, and income limits. We’ll dig in.
Read more >>Other news that caught our eye
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Extreme weather is stretching FEMA’s $20 billion in disaster relief funding for the year. Not knowing the true cost of disasters is one of the complicated puzzle pieces.
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Going to Disneyland just got more expensive. Disney hiked the price of most tickets and passes to its Southern California parks, although it kept the base entry price the same.
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Boeing machinists will continue to strike after negotiations with the aircraft manufacturer broke down this week. It could cost the company some $1 billion each month.
Financial planner tip of the day
"Understanding exactly how much you’re spending helps you appreciate how much you’re able to save. Your savings rate is the most important component for determining your ability to accomplish financial goals like homeownership, starting your own business, or being able to retire."
Brian Walsh, CFP® at SoFi