This key economic indicator is a major consideration for the Fed's upcoming interest rate decision.
| This email is coming from an unmonitored email account. Please do not respond to this message. | | | | | | | | | Market Recap | | | | | Dow Jones | 36,245.50
(+0.82%) | | S&P 500 | 4,594.63
(+0.59%) | | Nasdaq | 14,305.03
(+0.55%) | | | | | | | | | | | | | How this week's jobs report might steer the Fed | | | | The Federal Reserve is at a crossroads: The market thinks it's done with rate hikes, but it's reluctant to say so. Friday's jobs report might help frame expectations for what's next for Fed policy. Here's what's ahead on Wall Street this week.
Read more | | | |  | | | | | | | | MARKET RECAP | | | | US stocks rose on Friday as the Dow Jones Industrial Average notched its fifth week of gains, marking the longest win streak in two years | | | | - Fed Chairman Jerome Powell said it was too early to speculate about interest rate cuts, but market expectations are still leaning toward rate cuts next year.
- The U.S. manufacturing sector contracted for the 13th consecutive month in November.
- Shares of retailer Ulta Beauty gained 10.9% after beating earnings expectations.
- Pfizer shares fell 5.2% after announcing that it will discontinue the twice-daily version of its experimental weight loss drug after users experienced adverse side effects.
- Paramount shares rose 9.9% following a Wall Street Journal report that it could bundle its streaming service Paramount+ with Apple TV+.
- Elastic's stock jumped 37.1% after the data analytics firm beat expectations and raised guidance.
- Shares of Altimmune surged 13% after a study reported that its obesity drug reduced weight by more than 15% on average.
| | | | What to be on the lookout for today | | | | - There are no major economic reports scheduled, but software company GitLab will report earnings.
| | | | | | | | Forget toys, give the gift of a 529 plan | | | | Holiday season brings a question often dreaded by parents. What should relatives get the kids? So why not give the gift of education?
A 529 college savings plan is a tax-advantaged account to help families and individuals save for college or other qualified education expenses.
Money in these accounts can grow tax-deferred, and distributions aren't taxed as long as they are used on eligible expenses, including tuition, books, room and board, and apprenticeship programs. Bonus: Some states even offer a tax deduction on contributions.
What Parents Need to Know Time is your friend when it comes to saving for college. Open a 529 plan as early as you can to take advantage of the tax savings, and compound returns.
Anyone can contribute to a 529 account, so if you have family or friends out of gift ideas, you can suggest helping ease the future tuition burden.
What Gift Givers Need to Know You have two options when gifting to a 529 account: opening a new account, or contributing to an existing account. To open an account you will need details like the beneficiary's date of birth and Social Security number.
Gift givers can contribute up to $17,000 per 529 account this year without it having to be reported to the IRS. | | | |  | | | | | | | | Today's top stories | | | | | | | | Don't settle for a discount rate less than this. | | | | Retailers are offering holiday discounts at higher rates than ever, and experts say shoppers shouldn't settle for less than a certain percentage off.
Read more >> | | | | Which foods will fly off the shelves in 2024? | | | | Food industry experts are attempting to predict which food trends we'll see in 2024.
Read more >> | | | | What happened in the markets in November? | | | | Euphoria about the prospect of a 'soft landing' inspired a rally in November. But can this continue?
Read more >> | | | | | | | | | | Other news that caught our eye | | | | | | | | | | Financial planner tip of the day | | | | "You may not be able to completely reform an overspending habit overnight. But by tracking your spending, setting up a basic budget, and altering some of your everyday habits, you may soon be able to gain control over your financial life, and start reaching your short- and long-term savings goals." | | | | – 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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