| This email is coming from an unmonitored email account. Please do not respond to this message. | | | | | | | | | Market Recap | | | | | Dow Jones | 33,035.93
(-0.32%) | | S&P 500 | 4,186.77
(-1.43%) | | Nasdaq | 12,821.22
(-2.43%) | | Google | $126.67
-$13.45 (-9.6%) | | Apple | $171.10
-$2.34 (-1.35%) | | | | | | | | | | | | | Soft saving: Gen Z does retirement | | | | Prefer to spend now rather than put money away for later? You might be soft saving.
Read more>> | | | |  | | | | | | | | MARKET RECAP | | | | US stocks fell on Wednesday as Treasury yields pushed higher, and key earnings disappointed | | | | - The tech-heavy Nasdaq entered correction territory, defined as a 10% drop from the most recent peak, after a rocky day for tech stocks.
- Shares of Google parent Alphabet shares dropped 9.6% after falling short of Google Cloud revenue estimates. The company beat overall earnings and revenue projections.
- Microsoft rose 3.1% after beating estimates, and showed 19% growth for its Intelligent Cloud segment.
- The average 30-year fixed-rate mortgage pushed to 7.9%, another multi-decade high. This was the seventh consecutive weekly increase.
- Single-family homes sales jumped more than 12% on a seasonally adjusted annual basis in September, reaching their highest level since February 2022. Building permits declined 4.5% from their 10-month high in August, while approvals for multi-segment buildings fell 14.3%, reaching the lowest level in three years.
| | | | What to be on the lookout for today | | | | - It will be a busy day with the first look at how the U.S. economy fared in the third quarter. Expectations put growth above the prior quarter's 2.1% annual rate. September durable goods orders data will also come out.
- On the earnings front, we'll get several major reports, including Comcast, Chipotle, Mastercard, Southwest Air, UPS, and Ford.
| | | | | | | | Liz Looks at: Home Sales & Mortgage Rates | | | | It's spooky season, and to prospective home buyers, U.S. housing data offers plenty to be scared about.
For one, national home prices have risen more than 43% since December 2019. And then there are interest rates, pushed up in response to rampant pandemic-era inflation.
SoFi's Liz Young, Head of Investment Strategy, breaks down this Rocky Horror Housing Picture Show , and why real estate is such a key part of our economy and the health of the American consumer. | | | |  | | | | | | | | Today's top stories | | | | | | | | Big Oil is betting $100 billion on, well, oil | | | | Despite growing momentum for green energy, Chevron, and ExxonMobil just doubled down on fossil fuel production. We break down the trend.
Read more >> | | | | This trial could make it cheaper for you to sell a home | | | | Broker fees are on the chopping block at a trial against the National Association of Realtors.
Read more >> | | | | Travel hack: What to do with leftover foreign currency | | | | You're at the end of your international vacation but got lots of local cash left in your wallet. Here are some tips on what to do with it.
Read more >> | | | | | | | | | | Other news that caught our eye | | | | | | | | | | Financial planner tip of the day | | | | "Traditional IRAs or 401(k)s allow you to contribute pre-tax dollars to an account. You can save money on taxes now and only pay taxes on your investments when you withdraw from the account." | | | | – 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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