Markets posted losses and struggled to recover Friday after a better-than-expected jobs report. Plus why you need to check the expiration date on your airline and hotel vouchers. Here's how the headlines could affect your money.
All three major indexes posted losses on Thursday, as investors worried whether the central bank could keep surging bond yields and inflation in check. The Dow sank 1.1%, the S&P 500 sank 1.3%, and the Nasdaq closed more than 2% lower.
Friday, markets attempted to bounce back after a positive job creation report from the Labor Department.
In February, the U.S. added 379,000 jobs. Experts had forecasted only 210,000.
A majority of jobs came from the battered leisure and hospitality sector, as more states lift dining restrictions. Bars and restaurants gained 286,000 jobs, while the hotel industry added 36,000, and the amusement, gambling, and recreation business added 33,000.
Video by Mariam Abdallah
If you canceled vacation plans last spring due to Covid-19, you might have been issued a voucher to use at a later date. Many of these vouchers were set to expire in 12 months, meaning they might lose their value soon.
If you have a voucher that's set to expire soon but you aren't comfortable traveling, call the airline or hotel and ask for an extension. Many companies have relaxed their refund policies.
A Treasury yield is the return on investment in the U.S. government's debt obligations. A 10-year Treasury yield is often watched as a sign of investor sentiment about the economy. On Friday, the 10-year Treasury yield hit a one-year high before lowering again, stoking inflation fears.
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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