Markets cap week with a rally, the ship stuck in the Suez Canal is freed, and the CDC extends the eviction moratorium. Here's how the headlines could affect your money.
Markets staged a late-day rally Friday: The Dow jumped more than 150 points in the last eight minutes of trading and the S&P 500 closed at another record high. For the week, the Dow and S&P were up 1.4% and 1.6%, respectively, while the Nasdaq was down 0.6%.
All three major indexes were trading lower Monday morning.
After nearly a week stuck in the Suez Canal, cargo ship Ever Given was freed Monday. Traffic through one of the world's busiest waterways has resumed, authorities say.
The Ever Given saga challenged a global supply chain already strained in the pandemic. Due to chronically backed up ports, purchases you make online may take longer to reach you and stores might be less stocked, according to supply chain experts.
"We're going to have another year of these delays. No question," Tony Nuzio, founder of ICC Logistics Services, told Grow.
The Centers for Disease Control has extended the national ban on evictions through the end of June, the agency announced Monday. The eviction ban was scheduled to expire in two days.
About 1 in 5 adult renters said they didn't pay last month's rent, according to a recent Census Bureau survey. That number was higher for Black renters: Nearly a third of them reported being behind on rent.
Video by Mariam Abdallah
As the White House prepares to make infrastructure its next legislative priority, Transportation Secretary Pete Buttigieg is rethinking how America funds its roads. One of the ideas on the table is swapping the gas tax — whose revenues have dwindled as cars have become more efficient — for a vehicle mileage tax, which would levy the distance drivers travel instead of the amount of gasoline they consume.
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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