| This email is coming from an unmonitored email account. Please do not respond to this message. | | | | | | | | | Market Recap | | | | | Dow Jones | 33,997.65
(+0.04%) | | S&P 500 | 4,373.20
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(-0.25%) | | | | | | | | | | | | | Americans are being priced out of having fun | | | | The post-pandemic rebound in demand for live events has come back down to earth as concerts, sports events, theme parks, and more reckon with "funflation".
Read more>> | | | |  | | | | | | | | MARKET RECAP | | | | US stocks were mixed on Tuesday as Treasury yields approached the 16-year highs reached last week, sending the U.S. 10-year yield back to 4.83% | | | | - Retail sales data showed stronger-than-expected spending, rising 0.7% in September for the sixth consecutive month of growing sales. While last month was ever so slightly weaker than August sales, it still pointed to resilient consumer spending despite pressure from inflation.
- Goldman Sachs beat revenue and earnings expectations, citing strength in its mortgages and interest rate products. Even so, the bank still reported a 33% decline in profits compared to the previous year. Goldman shares closed down 1.6%.
- Bank of America earnings also topped estimates boosted by higher interest income, sending its shares 2.3% higher.
- Johnson & Johnson also beat earnings expectations and raised its full-year guidance on strong demand for its pharmaceutical and medical devices. The company saw a 6.8% year-over-year increase in sales last quarter. Its shares dipped 0.9%.
| | | | What to be on the lookout for today | | | | - The 30-year mortgage rate, which recently hit its highest level since November 2000.
- Building Permits and housing starts for September.
- Heavyweights Morgan Stanley (MS), Netflix (NFLX), Procter & Gamble (PG), and Tesla (TSLA) will report earnings.
| | | | | | | | This debt payoff option is 🔥 | | | | Finding the right approach to tackling debt is important. After all, you want a plan you can stick with. So, if the debt avalanche or snowball methods don't exactly fit with what you are looking for, consider combining the tactics.
The debt fireball method takes a hybrid approach: You categorize by interest rate, but tackle the smallest debts first.
Step one: sort your debt
Not all debt is created equal, and there's what's referred to as "good debt" and "bad debt." A mortgage or student loan, for example, may be considered "good", because of the potential to increase your net worth over time. Debts that don't bring long-term financial benefits – like high levels of credit card debt – are generally considered "bad."
Take stock of all your debts and note their interest rate and amount owed and create two groups: Group A: debts with an interest rate higher than 7% that aren't considered "good debt", and group B: outstanding balances with an interest rate below 7%.
Step two: rank your debt
List the amounts owed in Group A from smallest to largest. This is now your priority list. You will still make the minimum payments for all your debts, but any extra money will go toward paying off the smallest debt from Group A.
Once you pay off one debt, take that money and put it toward the next smallest amount, and continue the process. Happy debt slashing! | | | |  | | | | | | | | Today's top stories | | | | | | | | What happens when all the drugstores close? | | | | Rite Aid just filed for bankruptcy, and CVS and Walgreens are shuttering stores, leaving a critical void for consumers.
Read more >> | | | | Food delivery giants are going all-in on gamers | | | | DoorDash (DASH) found their new dream customer in the gaming community.
Read more >> | | | | Why a low debt-to-income ratio matters | | | | If you're in the market for a personal loan, mortgage, or even credit card, a provider will look at your debt-to-income ratio. The lower it is, the better. Here are some tips to get there.
Read more >> | | | | | | | | | | Other news that caught our eye | | | | | | | | | | Financial planner tip of the day | | | | "Your Debt-to-Income Ratio, or DTI, tells lenders how much of your monthly income is being used to pay your debts. In general, lenders prefer to see less than about 30% of an applicant's income going toward debt payments each month. Paying off debts can improve your DTI to a more creditworthy percentage for lenders to consider when assessing your mortgage loan application." | | | | – Brian Walsh, CFP® at SoFi | | | | How did you like today's newsletter? | | | | | | | | This email was sent to you at paidmellc@gmail.com by SoFi Wealth LLC. (SoFi) because you're enrolled in the SoFi Daily. If you do not want to receive SoFi Daily emails, click here to unsubscribe.
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