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Container ship stuck in the Suez canal blocking $400 million in trade an hour: The headlines and your money

Affected products include clothes, equipment, electronics: "Basically anything you see in the stores."

Maxars WorldView-2 collected new high-resolution satellite imagery of the Suez canal and the container ship (EVER GIVEN) that remains stuck in the canal north of the city of Suez, Egypt.
Satellite image (c) 2020 Maxar Technologies | Getty Images

Markets bounce back after a two-day losing streak, and a stuck container ship in the Suez Canal might cause shipping delays. Plus, most states are pushing back Tax Day. Here's how the headlines could affect your money.

Markets bounce back

Markets staged a late-day comeback Thursday, breaking a two-day losing streak. The Dow closed 0.6% higher, and the S&P 500 rose 0.5%. The Nasdaq eked out a 0.1% gain.

As of Friday morning, all three major indexes are up. 

Suez Canal blockage means shipping delays

The huge container ship Ever Given has been stuck in Egypt's Suez Canal since Tuesday. Shipping data company Lloyd's List estimates the blockage is holding up at least $400 million worth of trade per hour. 

Purchases you make online may take longer to reach you and stores might be less well stocked, according to supply chain experts. Affected products include clothing, exercise equipment, and electronics: "Basically anything you see in the stores," Lars Jensen, an independent container shipping expert based in Denmark, told CNBC.

Many states are delaying tax deadlines 

Last week, the IRS extended the deadline to file and pay federal taxes from April 15 to May 17. States have their own filing deadlines but many have decided to extend theirs as well. As of March 25, only two states have not changed their filing deadlines: Hawaii and Iowa.

To avoid late-filing penalties, be sure to check your state's deadline.

The most common tax mistake side hustlers make

Video by Courtney Stith

Words you've heard: Tax Day

The deadline to file your federal tax return and pay your federal taxes, aka Tax Day, is traditionally April 15. The coronavirus pandemic prompted the IRS to postpone that deadline in 2020 (until July 15) and 2021 (until May 17). When there is a federally declared natural disaster, the IRS also typically delays the deadline for affected taxpayers.

Quarterly estimated taxes for a business or side hustle are still due April 15, though. And states set their own filing and payment deadlines.

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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