Markets rise as lawmakers inch closer to bipartisan stimulus relief, the number of Americans who filed first-time unemployment claims hit its lowest pandemic-era level, and you could dodge holiday debt by following one rule. Here's how the headlines could affect your money.
The Dow and S&P 500 both rose slightly Wednesday, while the Nasdaq Composite dropped by 0.1%. Stocks have been climbing this week as lawmakers continue negotiations on a possible second coronavirus stimulus relief package.
Although Senate Majority Leader Mitch McConnell initially rejected a proposed $908 billion bipartisan bill, Minority Leader Chuck Schumer and House Speaker Nancy Pelosi said in a joint statement that the bill should be used as "basis for immediate bipartisan, bicameral negotiations" and it's gaining momentum on the Hill.
McConnell said Thursday he sees "hopeful signs" that a coronavirus stimulus deal can be struck before the end of the year.
The number of Americans who filed for unemployment for the first time hit its lowest point of the coronavirus pandemic last week, according to the Department of Labor. First-time claims were 712,000 for the week ending November 28, lower than last week's figure of 787,000 and the 780,000 that analysts predicted.
Video by Mariam Abdallah
If you want to enjoy the holidays but skip the financial hangover in January, experts say there's one move you can make to help: Create a budget and stick to it. Once you have an idea of the amount you can comfortably spend after covering key costs like housing and food, make a list of what you intend to buy, which can help curb the temptation to spend on extra stuff you don't need.
Big chains like Amazon, FedEx, UPS, as well as a number of big-box stores, are hiring thousands of seasonal workers to fill temporary positions during the holiday rush.
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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