| This email is coming from an unmonitored email account. Please do not respond to this message. | | | | | | | | | Market Recap | | | | | Dow Jones | 33,414.17
(-0.75%) | | S&P 500 | 4,278.00
(-0.85%) | | Nasdaq | 13,186.18
(-0.96%) | | Tesla | $220.11
-$22.57 (-9.3%) | | AT&T | $15.26
$0.94 (+6.56%) | | | | | | | | | | | | | A spike in health care premiums could dent your paycheck | | | | 1 in 4 companies are planning to increase employee premiums to foot a juicy bill for employer-sponsored health plans.
Read more>> | | | |  | | | | | | | | MARKET RECAP | | | | US stocks fell on Thursday following a slew of economic data, earnings reports, and comments from Fed Chairman Jerome Powell | | | | - Powell emphasized the likelihood of lower economic growth to achieve the goal of lower inflation, saying
the path is likely to be bumpy and take some time .
- Tesla shares sank more than 9% after the company's earnings failed to meet expectations. Cautious comments about the economy also spooked some investors. CEO Elon Musk worried that interest rates are hurting consumers' ability to purchase cars, but emphasized Tesla's strategy of price cuts to make the vehicles more affordable. The EV maker also provided a release date of November 30th for the long-awaited Cybertruck.
- Netflix shares surged 16% after the company topped earnings estimates. Third quarter subscriber growth surpassed estimates at nearly 9 million.
- AT&T shares jumped 6.4% after exceeding cash flow expectations and raising its full-year outlook.
- First time jobless claims fell to the lowest level since January in the week ended October 14.
- Existing home sales fell below 4 million in September, the fourth consecutive monthly decline and the lowest level since October 2010. The median price of homes sold in September also rose 2.8% year-over-year to just over $394,000, with roughly 26% of homes selling above their listing price.
| | | | What to be on the lookout for today | | | | - American Express will round out the earnings for the week. In the last quarter, the company reported record revenue.
| | | | | | | | This number has a big impact on your finances | | | | When it comes to borrowing money, lenders will turn to a three-digit number to help make the decision: your credit score.
Banks want to reduce their risk, and a credit score represents a borrower's creditworthiness (aka the ability to repay the loan).
Your credit score is determined by a variety of factors, including your payment history, types of credit accounts, your credit utilization rate and length of credit history.
Most scores range from 300 to 850, with scores higher than 700 typically considered good.
Your history, your score
Keeping tabs on your credit score will let you know what information banks are using when deciding on a loan. Maintaining a high credit score can save you money: People with higher credit scores tend to secure lower interest rates on loans.
Checking your credit score won't lower it, but inquiries made by lenders and credit card companies for a full check of credit history can affect a score.
Your credit score can fluctuate, so keep an eye on it. Late payments, opening up a new line of credit or paying off a loan can impact your score. And if your score makes an unexpected drop, you should find out why.
Learn more about staying on top of your score with free credit score monitoring from SoFi Relay. | | | |  | | | | | | | | Today's top stories | | | | | | | | Americans' uneven record net worth growth | | | | The pandemic-era increase in median net worth is the highest since the Federal Reserve started keeping track. But disparities remain.
Read more >> | | | | Meet Yelp's new competitor: John Legend | | | | The Grammy-winning singer's new tech startup wants to reinvent online recommendations without the negative reviews.
Read more >> | | | | Working from home? Here's how to adjust your budget | | | | Logging in from the comfort of your own home means you'll save on commuting costs. But there are other charges you might want to keep in mind to stay on track with your budget.
Read more >> | | | | | | | | | | Other news that caught our eye | | | | - Delta reversed changes to its loyalty program after receiving backlash. The airline will make it easier for customers to reach Medallion status, and open airport clubs to loyalty members.
- Pfizer has more than doubled the price of its COVID-19 treatment Paxlovid. The federal government paid $529 for the antiviral drug in 2021. It will now cost more than two-and-a-half that, at $1,390 per course.
- United Airlines has a new, more efficient boarding strategy. Starting October 26, window seat holders will board first, followed by middle seats, then aisle seats.
- Consumers were able to fuel strong spending power by tapping into home equity and trimmed bills during the pandemic, according to new research from the Federal Reserve Bank of New York
- Nokia will cut 14,000 jobs worldwide, a 16% reduction in its workflow, after sales and profits plunged.
| | | | | | Financial planner tip of the day | | | | "Payment history makes a bigger impact on a person's credit score than anything else. A borrower's credit score summarizes their health and strength as a borrower, and payment history makes up 35% of that score. So the most important rule of credit is this: Don't miss payments. Timely payments are crucial, and making at least the minimum payment on a revolving credit line can make a positive impact on a person's credit score." | | | | – 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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