| This email is coming from an unmonitored email account. Please do not respond to this message. | | | | | | | | | Market Recap | | | | | Dow Jones | 34,061.32
(+0.66%) | | S&P 500 | 4,358.34
(+0.94%) | | Nasdaq | 13,478.28
(+1.38%) | | Apple | $176.65
-$0.92 (-0.52%) | | | | | | | | | | | | | Can the global economy handle higher for longer interest rates? | | | | As the era of low interest rates fades, the global economy must brace for the lasting impact of costlier capital, and what that means for people, companies and governments.
Read more>> | | | |  | | | | | | | | MARKET RECAP | | | | U.S. stocks rose on Friday after a softer-than-expected jobs report reinforced the idea that the Federal Reserve may not raise rates any further | | | | - The economy added 150,000 jobs in October, the unemployment rate inched up to 3.9%, and September job gains were revised down by more than a third of the initial number. The 10-year Treasury briefly fell below 4.5% in response, a level not seen since September.
- Apple shares fell 0.5% after reporting a decline in overall sales for the fourth consecutive quarter.
- Shares of Cash App-owner Block surged 10.7% after raising its guidance, and announcing a $1 billion stock buyback, while Paramount shares rallied 15.4% after reporting a 38% year-over-year rise in revenue, and 2.7 million additions in net subscribers to Paramount+. Sports betting company DraftKings also beat expectations and rallied 16.5%.
- The ISM Services PMI fell more than expected in October, dipping to the lowest level in five months, even as the sector continued to expand.
| | | | What to be on the lookout for today | | | | - No major economic reports expected, but we will get earnings results from DISH Network and TripAdvisor.
| | | | | | | | Talk to your loved ones about 529 plans | | | | A new baby in the family calls for celebrations. It's time to think about diapers, cribs, bottles, and… college tuition.
While new parents certainly have their hands full, it's important to think about long-term planning, as saving early has benefits.
Your 529 cheat sheet
One way to save for future education costs is a 529 plan, which is a tax-advantaged fund, also referred to as a qualified tuition plan .
There are two types of 529 plans: prepaid tuition plans and educational savings plans. - A 529 prepaid tuition plan allows parents (or others) to prepay tuition at current rates at participating public and private colleges. Paying early can save you money if prices are higher at enrollment time.
- A 529 savings plan can invest in the market through options like mutual funds, or money market funds. Money can be withdrawn tax free to cover eligible expenses, including tuition, room and board, books and computer equipment. Funds can also be used on certain K-12 expenses, and apprenticeship tuition and fees.
But beware, non-qualified withdrawals could mean you will owe taxes, as well as a 10% penalty. | | | |  | | | | | | | | Today's top stories | | | | | | | | As the labor market cools, productivity is key to America's economic success | | | | Labor productivity has surged to the highest rate in decades, a promising sign for the economy. Will it deliver? Here's what's ahead on Wall Street next week.
Read more >> | | | | Living at the mall | | | | The answer to America's housing shortage might be just down the street. Strip malls are almost everywhere in America, and many of them sit abandoned. Converting just 10% of these strip malls could create 700,000 new housing units.
Read more >> | | | | The cost of daylight savings time | | | | Most states turned their clocks back by an hour last weekend. But daylight savings come at a cost.
Read more >> | | | | | | | | | | Other news that caught our eye | | | | | | | | | | Financial planner tip of the day | | | | "If you want to build savings into your monthly financial plan, but can't imagine how, you have to begin by tracking your spending. Identify areas that you can cut back in so that you are then able to re-allocate those funds to your future." | | | | – 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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*NOTICE:If you are a federal student loan borrower, you should consider all of your repayment opportunities including the opportunity to refinance your student loan debt at a lower APR or to extend your term to achieve a lower monthly payment. Please note that once you refinance federal student loans you will no longer be eligible for current or future flexible payment options available to federal loan borrowers, including but not limited to income-based repayment plans or extended repayment plans. Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
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