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What is a Joint Bank Account and How Do They Work?
Forget making it Facebook official. Opening a joint bank account is the true way to show youâre committed. OK, so not really. But for many married couples, long-term domestic partners, families and even roommates, joint bank accounts make budgeting and sharing bills easier to manage. What Is a Joint Bank Account? A joint bank account [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
Stock Market Today: Stocks Rise Despite Rate Concerns, Mixed Earnings
The major indexes traded well into the green Tuesday, and they did so while flying into a couple of headwinds.
Rising interest rates, which have helped to keep stocks grounded of late, continued their 2022 climb, with the 10-year Treasury reaching 2.948% today as it marches toward a 3% threshold last crossed in late 2018.
Meanwhile, the corporate earnings calendar was largely a mixed affair.
- SEE MORE The 22 Best Stocks to Buy for 2022
Johnson & Johnson (JNJ, +3.1%) beat first-quarter earnings expectations but missed on revenues and lowered its full-year 2022 sales and profit forecasts. It did, however, announce its 60th consecutive annual dividend hike â a 6.6% bump to $1.13 per share quarterly â to extend its membership in the Dividend Aristocrats.
Defense contractor Lockheed Martin (LMT, -1.6%) sagged after delivering a bottom-line beat but missing both on Q1 revenues and its full-year 2022 sales outlook.
Insurer Travelers (TRV, -4.9%) reported a better-than-expected 48% jump in profits thanks to lower catastrophe losses, though it did suffer a decline in its ratio of claims and related costs to premiums collected.
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Also Tuesday, fresh data showed that housing permits rose 0.4% month-over-month in March to 1.873 million annualized, while housings starts were up 0.3% to 1.793 million units annualized.
“Housing starts rose solidly in March; residential construction added to real GDP growth in the first quarter,” says Bill Adams, chief economist for Comerica Bank. But he adds that supply chain issues are a huge problem for housing. “The backlog of houses that are permitted or started but not completed is the biggest since the 1970s.”
- SEE MORE 5 ESG Stocks to Buy for Earth Day 2022
The Nasdaq Composite advanced 2.2% to 13,619, while the S&P 500 (+1.6% to 4,462) and Dow Jones Industrial Average (+1.5% to 34,911) also finished with substantial gains.
After the closing bell, Netflix (NFLX) reported its first quarterly subscriber decline in more than a decade. Shares plunged by 23% in early after-hours trading as Netflix said it suffered a Q1 loss of 200,000 subs, which kept revenues of $7.78 billion below analyst expectations. That overshadowed an easy earnings beat of $3.53 per share vs. estimates of $2.89.
YCharts
Other news in the stock market today:
- The small-cap Russell 2000Â continued to bounce back and forth across the 2,000 level, gaining 2.0% to 2,030.
- U.S. crude futures plummeted 5.2% to end at $102.56 per barrel, weighed on by a strengthening U.S. dollar and worries over slowing Chinese demand.
- A stronger dollar pressured gold futures too, ending the day down 1.4% at 1,959.00 an ounce.Â
- Bitcoin recovered another 1.4% to $41,349.59. (Bitcoin trades 24 hours a day; prices reported here are as of 4 p.m.
- Hasbro (HAS) advanced 5.2% after the toymaker reported revenue of 1.16 billion for its first quarter â in line with what analysts were expecting â and raised its 2022 revenue forecast, now expecting sales to grow in the mid-single digits this year compared to previous guidance for low-single-digit growth. This helped offset a bottom-line miss, with HAS reporting earnings of 57 cents per share versus the consensus estimate for 62 cents per share. “The company saw 76% sales growth in entertainment as the division benefitted from resumed productions and deliveries and 32% sales growth in digital gaming as they see continued momentum in the space,” says CFRA Research analyst Zachary Warring (Buy). “We believe HAS will outperform as its entertainment and digital segments drive margins and sales higher.”
Real Estate With Rising Payouts
Having itself a day was equity real estate (+2.1%), a sector that so far delivered a middling 2022.
- SEE MORE 12 Best Monthly Dividend Stocks and Funds to Buy for 2022
Helping push it higher was Prologis (PLD, +4.0%), a logistics-focused real estate investment trust (REIT) that reported Street-beating earnings and raised its full-year guidance amid “record demand” thanks to supply-chain issues.
Also moving the sector was American Campus Communities (ACC), which spiked 12.5% after The Wall Street Journal reported asset management firm Blackstone (BX, +4.9%) will buy the student housing developer in a $12.8 billion deal that includes debt.
“The premium to Monday’s close [for ACC stock] is ~15%,” says Piper Sandler analyst Alexander Goldfarb. “While we certainly were not expecting this deal, it doesn’t totally surprise given the Street has long valued the company below net asset value versus the ebullient private market that clearly showed the demand for student housing.”
So far in 2022, rising rates have held back REITs, which as a sector are off a little more than 4% year-to-date. But a team of Janus Henderson portfolio chiefs believes any future rate headwinds should be largely limited.
“Should bond yields and interest rates move significantly higher, this could impact property capital values,” the portfolio managers say. “However, most REITs have been very proactive in recent years in extending and fixing their debt book, which should reduce their exposure to short-term rate rises.”
Remember: Real estate investment trusts are largely appreciated by the income-investing crowd because their mandate to deliver at least 90% of taxable earnings back into the hands of investors typically translates into better-than-normal yields.
But sweetening the pot even more are those REITs that can muster exceptional dividend growth as well. We’ve recently explored seven real estate plays that have reliably raised payouts in previous years and have delivered double-digit growth of late.
- SEE MORE The 22 Best ETFs to Buy for a Prosperous 2022
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This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
A Guide to What Mortgage Notes Are & What They Do
When you close on a home, one of the most important documents youâll review and sign is your mortgage note. Itâs an agreement between you and the lender that outlines the terms and conditions of the mortgage. The document tells you how much and when to pay, and spells out the consequences if you donât. […]
The post A Guide to What Mortgage Notes Are & What They Do appeared first on SoFi.
Dear Penny: Am I Wrong if I Don’t Leave My Family an Inheritance?
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.
How to Find a Contractor for Home Renovations & Remodeling
Youâre ready to make home improvements. When looking for a trustworthy pro, itâs a good idea to get referrals, check references, get bids, and nail down your financing. Letâs drill down to the details on how to find a good contractor for remodeling and what you need to ask as you move through the process. […]
The post How to Find a Contractor for Home Renovations & Remodeling appeared first on SoFi.
Chapter 1: What Is a Budget & How to Create One
Creating a budget can offer you peace of mind and give you more confidence in managing your finances. A budget can help make you more aware of how you spend your money, and the places where you may be spending…
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The post Chapter 1: What Is a Budget & How to Create One appeared first on MintLife Blog.
Should You Use a Self-Directed IRA to Invest in Cryptocurrency?
You may have heard about people investing in Bitcoin and other digital currencies with their retirement account. It sounds strange. But it is possible. You can purchase cryptocurrency through a self-directed IRA, which is a tax-advantaged retirement account used to hold alternative investments, such as real estate, commodities, and yes, even cryptocurrency. But why hold [â¦]
This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.