🎓 IT'S GRADUATION DAY

TL;DR: NVDA wins the stock market, Congrats Grads & Bitcoin Pizza

Remember that feeling of accomplishment when you finally paid off that credit card or student loan? Investrio can help you achieve more financial wins! We help you manage your debt, build a budget, and connect with a financial coach—all in one place! 💜🚀💰

Now, let's move on to the news that impacts your wallet! This week, we saw a stellar performance by NVIDIA, the darling of the stock market. When they reported earnings, they announced a 10:1 stock split, which is essential for two reasons: the stock price will be more bite-sized after the split and this will ultimately drive even more returns for NVIDIA shareholders. If you haven't bought this stock specifically - we wrote in a previous newsletter about the best stocks for AI and where it's going from here - reach out, and we can send it to you!

If your answer was communication services, you are correct! Communication stocks are just behind technology in terms of performance this year. These are the stocks that provide wired, wireless, satellite, cable, and other coms infrastructure to businesses and consumers. ☎️

📈 Besides technology, what other industries have performed the best in 2024?

🚨On the radar:

Gas Prices Hit All-Time Highs as Memorial Day Approaches - Fill up your tank now because gas prices are soaring just in time for the summer travel season. Experts predict prices could climb even higher. Consider carpooling, using public transportation if possible, or planning staycations to save on gas costs (& it's also greener! 🌱)

Congratulations Class of 2024! - Students are graduating this spring and entering the job market and repayment cycle. For those looking to take out a student loan, look out because interest rates are projected to increase for the upcoming school year, highest in a decade. Existing borrowers with federal loans might be eligible for income-driven repayment plans 

Gotchu Covered! The Supreme Court has upheld the Consumer Financial Protection Bureau's funding, ensuring it can continue to protect consumers from unfair financial practices. This means the CFPB can keep advocating for your interests in areas such as credit cards, loans, and bank accounts. This is very important, especially as we've seen some bad behavior from banks lately.

💰Crypto Corner

Big Ethereum News! The SEC approved eight spot Ethereum ETFs. However, it may be weeks or months before the ETFs can start trading. This is a big deal, similar to how Bitcoin ETF approvals in January fueled a surge to a record $74,000 in mid-March! Ethereum's price didn't react much to the official announcement, but it did jump earlier in the week on leaks about the approval. Could history repeat itself for Ethereum?

Speaking of Price Jumps... Did you know this week was Bitcoin Pizza Day? Back in 2010, a Florida man traded 10,000 Bitcoin for two Papa John's pizzas. That's over $700 million worth of Bitcoin today!

Don't expect a digital dollar anytime soon. A new bill prevents the Federal Reserve from launching a Central Bank Digital Currency (CBDC) without Congress's approval. Congressman Emmer voiced concerns about government control over our money. You can watch his speech here:

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In Abundance,
Joyce and Laura