Stock splits and unemployment numbers are making news today. Here's how the headlines could affect your money:
On "Mad Money" Wednesday, CNBC's Jim Cramer said splits are an important tool "if you want the market to keep climbing" and called for companies including Amazon and Microsoft to follow suit. Those companies, along with Apple, have been responsible for much of the S&P's recent climb back to pre-pandemic highs.
Traders saw the better-than-expected numbers as another sign of economic improvement, a sentiment that helped the market cut losses for a flat open.
Video by Stephen Parkhurst
Families with kids expect to spend about $790 on back-to-school supplies per household, according to the National Retail Federation. That's up from $697 last year.
Laptops and computer accessories for remote learning are driving costs up. Before you buy, check in with your school. Many are supplying students with laptops or tablets, or have gear families in need can borrow. And don't forget to check retailers' selection of "open box" electronics. Opting for a lightly used laptop could save you up to 30%.
A stock split increases the number of shares in a company by issuing new shares to current shareholders. In doing so, it decreases the market price per share. For example: If you had one $1,000 share, after a 4-for-1 split, you'd have four $250 shares.
Experts generally consider splits a good thing: Shareholders get more shares for their money, and lower share prices draw in more investors.
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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