| This email is coming from an unmonitored email account. Please do not respond to this message. | | | | | | | | | Market Recap | | | | | Dow Jones | 33,052.87
(+0.38%) | | S&P 500 | 4,193.80
(+0.65%) | | Nasdaq | 12,851.24
(+0.48%) | | Sysco | $66.49
$0.95 (+1.45%) | | | | | | | | | | | | | Forget the Fed — there's another big event this week | | | | With the budget deficit widening and yields soaring to multi-year highs, all eyes are on this week's Treasury Department's refunding announcement. Here's what you need to know.
Read more>> | | | |  | | | | | | | | MARKET RECAP | | | | US stocks rose on Tuesday but closed out the month modestly lower ahead of the Fed's interest rate decision | | | | - Shares of Pinterest surged 19% after beating estimates, and assuaging investors that many advertisers that paused spending due to the Israel-Palestine conflict have already returned.
- Pfizer reported a smaller-than-expected loss but fell short of revenue estimates, posting a 41% year-over-year decline. The company also wrote down $5.6 billion in inventory due to lower demand for its Covid products. Pfizer shares ended flat.
- Sysco shares rose 1.5% after the world's largest food distributor reported revenue and operating income growth, and announced plans to return roughly $1.75 billion to shareholders through dividends and repurchases.
- U.K. oil giant BP saw its shares fall 4.6% after reporting a near 60% year-over-year decline in earnings. The company also announced $1.5 billion in share buybacks.
- The U.S. Treasury Department announced it intends to borrow $776 billion in the fourth quarter, and $816 billion in the three months of 2024. The government's fiscal 2023 budget deficit is expected to be roughly $1.7 trillion, a $320 billion increase from last year.
- The August Case-Shiller Home Price Index showed prices rose in the 20 cities surveyed at the highest rate seen since January — 2.2% year-over-year.
| | | | What to be on the lookout for today | | | | - The Federal Reserve will deliver its latest interest rate decision.
- We'll get an update to the 30-year fixed-rate mortgage, the latest ISM Manufacturing PMI data, the ADP Employment Report for October, and the number of job openings in September.
- It will be the busiest earnings day of the week with CVS, DoorDash, Paypal, Roku, Zillow, and Airbnb.
| | | | | | | | How to cut your holiday spending this year | | | | If your holiday to-do list has you seeing nothing but dollar signs, don't worry.
We've already talked about creating a budget for the holidays, here are some tips on how to make the most wonderful time of the year more affordable without crushing your festive spirit.
Presents
To cap your present buying list, consider creating a gift exchange among different groups, for instance a siblings, or co-worker exchange.
Shopping sales is a good way to save money, but also pay attention to your payment method. Some credit cards offer cash back or other rewards with certain retailers, so swipe carefully.
Consider sticking to cash
You can't spend what's not there, so it might be easier to keep track of spending cash rather than using your credit card. The envelope method is a budgeting technique that involves placing designated amounts of cash into labeled envelopes. For the holidays, you might label each envelope with the people or category you want to spend on. And when the cash is gone, you're done.
Décor
A festive house is fun, but not when it breaks the bank.
Buying decorations after the holidays can snag you significant discounts, but if you need something now, check out thrift and dollar stores for affordable items.
Food
The holiday season is all about indulgence. If you're hosting gatherings, consider making it pot-luck when everyone brings a dish to help ease the financial burden.
Learn more about how to budget better this holiday season with SoFi's Holiday Spending Guide. | | | |  | | | | | | | | Today's top stories | | | | | | | | How long can America's spending spree go on? | | | | Despite the rising cost of living, three factors are inspiring Americans to keep spending like there's no tomorrow.
Read more >> | | | | Here's a surprising financial hack: Be in a relationship | | | | Single life means you only have yourself to spend on. But you could still wind up paying double for flying solo.
Read more >> | | | | What you need to know about high yield savings accounts | | | | When you're saving up, you want your money to work for you. There are ways to earn interest while keeping your money in a low-risk place, such as a high yield savings account.
Read more >> | | | | | | | | | | Other news that caught our eye | | | | | | | | | | Financial planner tip of the day | | | | "While not everyone loves the idea of budgeting, taking a moment to assess and prioritize your spending can yield some real rewards. Even a basic monthly budget can help you reach your financial goals, whether it's to have a financial cushion, put a downpayment on a new home, go on your dream vacation, or all of the above." | | | | – 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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