The markets continue to be bumpy; Trump OKs TikTok-Oracle-Walmart partnership; and while Amazon is hiring, Walmart is raising wages for many of its employees. Here's how the headlines could affect your money.
Friday markets closed with major indexes down after the third consecutive week of tech sell-offs. Friday was a "witching day," meaning that it was the one day per quarter when several options expire. (Options allow you to pick your buying or selling price for a stock or other financial product.)
The sell-off continued Monday morning. But it's important to keep perspective: Despite a lackluster September, the S&P 500 50-day simple moving average is $3,343. One year ago, it was only $2,950, so investments you had then could be up a sizable 13% now despite the market jitters of the last few weeks.
The 50-day simple moving average is the average of closing prices over the last 10 trading weeks, which many analysts believe to be an indicator of market health.
Video by David Fang
Young people, rejoice: You may not lose TikTok after all. President Donald Trump on Saturday tentatively approved a TikTok partnership with Oracle and Walmart.
The Trump administration had said it would block downloads of both TikTok and WeChat out of concerns about user privacy, though over the weekend a court intervened, halting action on WeChat.
Amazon plans to hire 100,000 employees to keep up with skyrocketing orders. This is its fourth mass recruitment this year.
Walmart, meanwhile, will raise wages for 165,000 employees, or 11% of its workforce. Deli and bakery workers could see pay rise from $11 to $15/hour. That can have broader implications since local employers look to Walmart when setting salaries.
A witching day refers to a single day of unsettling market fluctuations. Witching days result in increased trading on the day of a given quarter when options expire. There are several types of options, with stock options being the most common, and they expire on the same day.
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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