News You Can Use

Stimulus bill updates have some in DC 'optimistic,' 'encouraged': How today’s headlines could affect your money

Trump is putting pressure on lawmakers to “go bigger” on coronavirus relief, and jobless figures show fewer than expected Americans filed for unemployment. Here's what the news could mean for your money.

Twenty/20

President Donald Trump is pushing a larger stimulus package; jobless numbers were lower than expected; and shares of the cloud-based software company Snowflake jumped 111% at its IPO before slipping. Here's how the headlines could affect your money.

Trump asks lawmakers to pass a larger stimulus bill

A week after the Senate voted on a new "skinny" stimulus bill that failed to garner enough support to move forward, President Donald Trump is asking GOP lawmakers to go bigger.

On Twitter on Wednesday, the president urged Senate Republicans to aim for "much higher numbers" in their coronavirus-aid negotiations. Republicans had proposed to spend well under $1 trillion, while Democrats are asking for at least $2.2 trillion. 

A bipartisan committee of self-proclaimed "problem solvers" in the House are pitching a new stimulus bill of up to $1.5 trillion, including $280 billion for a second round of $1,200 stimulus checks. 

Though it is not clear whether or not an agreement will be reached, some on Capitol Hill are hopeful. White House Chief of Staff Mark Meadows said on "Squawk on the Street" that he is "probably more optimistic about the potential for a deal in the last 72 hours than I have been in the last 72 days." And in a statement, Senate Minority Leader Chuck Schumer said he was "encouraged" by Trump's tweet.

VIDEO2:2102:21
How the Fed's interest rate decisions impact you

Video by Stephen Parkhurst

Weekly jobless claims slightly better than expected

Last week, 860,000 Americans submitted first-time filings for unemployment. This marks a slight improvement on estimates: Economists had forecast 875,000.

The U.S. lost 22.2 million jobs as a result of the virus and has so far recovered about half.

Snowflake shares shoot past 111% on IPO

In its market debut Wednesday, the tech firm Snowflake closed up more than 111%. Snowflake, or SNOW, raised more than $3 billion based on its opening price, the most ever for a software company. Shortly after, they slipped.

Investing early in a company can be appealing, but experts preach caution. A 2019 analysis found most investments in new companies lose money after five years. To invest successfully, do your research, diversify your portfolio, and make sure you're in it for the long haul

Words you've heard: IPO

An initial public offering, or IPO, refers to the moment a private company begins selling stock to outside investors. After that, it's considered a public company, with shares tracked and traded on a major stock index.

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.

More from Grow:

acorns+cnbcacorns cnbc

Join Acorns

GET STARTED

About Us

Learn More

Follow Us

All investments involve risk, including loss of principal. The contents presented herein are provided for general investment education and informational purposes only and do not constitute an offer to sell or a solicitation to buy any specific securities or engage in any particular investment strategy. Acorns is not engaged in rendering any tax, legal, or accounting advice. Please consult with a qualified professional for this type of advice.

Any references to past performance, regarding financial markets or otherwise, do not indicate or guarantee future results. Forward-looking statements, including without limitations investment outcomes and projections, are hypothetical and educational in nature. The results of any hypothetical projections can and may differ from actual investment results had the strategies been deployed in actual securities accounts. It is not possible to invest directly in an index.

Advisory services offered by Acorns Advisers, LLC (“Acorns Advisers”), an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). Brokerage and custody services are provided to clients of Acorns Advisers by Acorns Securities, LLC (“Acorns Securities”), a broker-dealer registered with the SEC and a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). Acorns Pay, LLC (“Acorns Pay”) manages Acorns’s demand deposit and other banking products in partnership with Lincoln Savings Bank, a bank chartered under the laws of Iowa and member FDIC. Acorns Advisers, Acorns Securities, and Acorns Pay are subsidiaries of Acorns Grow Incorporated (collectively “Acorns”). “Acorns,” the Acorns logo and “Invest the Change” are registered trademarks of Acorns Grow Incorporated. Copyright © 2019 Acorns and/or its affiliates.

NBCUniversal and Comcast Ventures are investors in Acorns Grow Incorporated.