| This email is coming from an unmonitored email account. Please do not respond to this message. | | | | | | | | | Market Recap | | | | | Dow Jones | 32,784.30
(-0.76%) | | S&P 500 | 4,137.23
(-1.18%) | | Nasdaq | 12,595.61
(-1.76%) | | Meta | $288.35
-$11.18 (-3.73%) | | | | | | | | | | | | | Is this time-tested investment strategy losing its edge? | | | | The weird market environment is weighing on the stock-standard investing method of splitting money between stocks and bonds. Here's what you need to know.
Read more>> | | | |  | | | | | | | | MARKET RECAP | | | | US stocks fell sharply on Thursday after more disappointing earnings sent the Nasdaq deeper into correction territory, defined as a 10% drop from the most recent peak | | | | - Shares of Meta fell 3.7% after it raised concerns around the ad market. Still, overall revenues increased more than expected, 23% year-over-year, and CEO Mark Zuckerberg said AI was the company's premier investment priority.
- Mastercard shares dropped 5.6%, after warning that consumer spending could slow. However, still resilient consumer spending buoyed the company's earnings to beat expectations.
- UPS (UPS) shares slumped 6% after reporting a 12.8% decline in revenue year-to-year and a near-57% decline in profits, attributed to challenging macroeconomic conditions.
- Comcast beat earnings expectations but saw its shares drop 8.4%, as broadband subscribers and ad revenue fell.
- Shares of Barbie maker Mattel (MAT) dropped 7.6% as it warned of soft holiday demand.
- The U.S. economy grew at an annualized rate of 4.9% in the third quarter, well above the prior quarter's rate of 2.1%, and the most since the fourth quarter of 2021, according to initial estimates by the Bureau of Economic Analysis. Growth was driven by consumer spending, which rose by 4%, as well as investments, exports and government spending.
- September durable goods orders rose by 4.7%, the largest monthly increase since July 2020, mainly driven by a surge in transportation equipment, especially civilian aircraft.
| | | | What to be on the lookout for today | | | | - The Fed's favorite inflation index, core PCE, will be in focus today. Inflation has remained well above the Fed's inflation target of 2%. The same report will include data on personal income and spending.
- Exxon Mobil and Colgate-Palmolive will be among the companies rounding out the earnings of the week.
| | | | | | | | Are you getting the most out of your 401(k)? | | | | You have a lot of demands on your paycheck, including immediate strains such as housing, food, and loan repayments. But then there's also the long-term need to save for retirement – however far away it is.
As we head into the last months of the year, it's time to review your 401(k) contributions. This year, you can contribute $22,500 to your plan, per the IRS. Workers 50 and older can contribute an additional $7,500.
Taking it to the max
If possible, you want to get as close as possible to your maximum contributions to help build your nest egg, while still being able to maintain other financial goals like having an emergency savings fund.
When you contribute to a 401(k), the money is taken from your paycheck before it's taxed. You only pay taxes once you withdraw money in retirement.
This can lower your tax obligations: Every pre-tax dollar you funnel into your 401(k) account shrinks your taxable income, and as a result, reduces your income taxes for the year.
If your employer offers a company match to your contributions (matching an your contributions up to a certain percentage), is an additional benefit – think of the match as free money.
Eager to learn more? Join our webinar Get an IRA Education with SoFi Financial Planner Brian Walsh to learn about other ways you can save for retirement. With our new 1% IRA match, now's the perfect time to tune in. Save your seat!
*NOTE: Only contributions made via ACH are eligible for the match. ACATs, wires, and rollovers are not included. Offer ends 12/31/23. | | | |  | | | | | | | | Today's top stories | | | | | | | | College enrollment rose for the first time since Covid | | | | High school grads are keener on college again as a changing job market keeps the stakes high.
Read more >> | | | | The weight loss craze has reached startups | | | | Signos just raised $20 million to continue developing a wearable sensor that tracks glucose levels and offers personalized advice to help cut pounds.
Read more >> | | | | Want to retire at 60? Here's how you might be able to | | | | Early retirement sounds like a dream. Maybe you're well on your way to saving for it, or maybe you're only getting started. This is what you need to know to ensure your financial stability.
Read more >> | | | | | | | | | | Other news that caught our eye | | | | | | | | | | Financial planner tip of the day | | | | "Depending on your employment circumstances, there are many possible retirement plans in which you can invest money for retirement. Some are offered by employers, others can be set up by an individual. Likewise, the benefits for each of the available retirement plans differ, though they all share one positive attribute: Investing in them is an important step in saving for retirement." | | | | – 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.
Please understand that this information provided is general in nature and shouldn't be construed as a recommendation or solicitation of any products offered by SoFi's affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It's important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
Third Party Trademarks: Certified Financial Planner Board of Standards Inc. (CFP Board) owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™, CFP® (with plaque design), and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth's advisory operations, services, and fees is set forth in SoFi Wealth's current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov.
To manage your SoFi email communication preferences, click here.
Privacy Policy | Legal | SoFi Learn
Apple, the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries and regions. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.
234 1st Street, San Francisco, CA 94105
© 2023 Social Finance, Inc. All rights reserved.
w: 20231027 | | |
No comments: