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Markets mixed and Obamacare heads to the Supreme Court: Here’s how the headlines could affect your money

Obamacare heads to the Supreme Court again and more of today's money news.


Market reactions are mixed after Covid-19 drug announcements originally sent them higher, and the Supreme Court will hear another Affordable Care Act case. Here's how the headlines could affect your money.

Markets mixed

The Dow and S&P were both significantly up on Monday following the release of data from Pfizer and BioNTech that showed their Covid-19 vaccine was more than 90% effective in test trials. The FDA also approved emergency use of an experimental Covid-19 drug by Eli Lilly. 

The Nasdaq closed lower on Monday, though, and Tuesday morning trading moderated some of Monday's gains.

Supreme Court hears Obamacare challenge

The conservative-leaning Supreme Court is set to hear another challenge to the Affordable Care Act (ACA, or "Obamacare") on Tuesday. The case, brought by a number of Republican states, centers around the individual mandate. It's backed by President Trump, who has vowed to end the program. 

Some 23 million people could lose health coverage if the ACA is repealed and not replaced. Another 133 million people with preexisting conditions could see premiums go up or be denied coverage.

A decision is expected by June. 

President-elect Joe Biden aims to protect and expand the ACA, though he'd need assistance from Congress. 

Does your health insurance cover coronavirus

Video by David Fang

Financial infidelity is alarmingly common

A lot of Americans admit to cheating on their partner, moneywise: Fully 44%, according to a survey from this year. Deception can strain your relationship, experts say, and communication is key if you want to restore trust. Come clean to your partner, listen to their response, and come up with a financial plan together.

Words you've heard: Financial infidelity 

Financial infidelity happens when someone hides spending, credit cards, debt, or financial accounts from a significant other. Many Americans admit to this type of activity, which can erode trust in a relationship.

Although the daily news can have an impact on your wallet, remember to take a long-term outlook when it comes to decisions on spending, saving, and investing.

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