Stock split mania, or just mania
Welcome to The Money, where we break down financial news and provide the TL;DR version of how decisions by the Federal Reserve, government and companies impact you.
The stock market's been rallying again, with the S&P 500 and Nasdaq both notching record highs on Thursday.
Speculation the Federal Reserve will lower interest rates later this year has helped, but there are other things lurking boosting sentiment, too. Stock splits from tech darling Nvidia and burrito eatery Chipotle have driven interest as well as a return of meme stocks and a rally in Bitcoin.
Nvidia shareholders as of Thursday's close will be eligible for the 10-for-1 stock split, while Chipotle shareholders will get a chance to approve a 50-for-1 stock split -- one of the largest in history -- on Thursday.
All of this while real fears of a recession remain.
Scam alert
Scams are on the rise again, especially as more data breaches occur and your data are sold on the dark web. Every type of company from hospitals to ticket vendors has been hacked.
Here are some scams to watch out for:
Growing up fast (and on your own)
“No child in the United States should have to drop out of school or life to provide care for family members," said Connie Siskowski, founder of the nonprofit American Association of Caregiving Youth (AACY), which advocates for and supports young caregivers.
Yet many do because there's little to no help for them.
An estimated 5.4 million children under 18 provided care to parents, grandparents or siblings with chronic medical conditions or functional decline in 2019, up from about 1.3 to 1.4 million in 2005, according to reports from the National Alliance for Caregiving and others.
But those numbers are a “gross underestimate,” Siskowski said. “I think it’s at least 7.5 million, conservatively.”
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