This Week in Money (June 5, 2026)
- Jun 5
- 2 min read
Here are a few of the stories in money you may have missed this past week.
U.S. stocks fell Friday as major technology companies led a broad market selloff after a stronger-than-expected jobs report fueled expectations that the Federal Reserve may need to raise interest rates later this year. The S&P 500 dropped 1.7%, marking its biggest one-day decline since March and putting it on track for its first weekly loss in 10 weeks, while the Dow Jones Industrial Average fell about 410 points (0.8%) and the Nasdaq tumbled 2.9%.
Technology stocks were the primary drag on the market, with Nvidia down 5%, Broadcom falling 5.7%, and Micron Technology plunging 9.4%.
Owning a pet is becoming increasingly expensive, and new data suggests the growing financial burden is causing some households (especially younger and lower-income families) to rethink pet ownership altogether. Rising costs for food, grooming, training, and especially veterinary care have pushed the average annual cost of caring for a cat or dog to nearly $4,300, with lifetime expenses exceeding $50,000.
Retiring debt-free may be the goal for a lot of people, but it’s becoming increasingly less common. According to recent data, nearly 65% of Americans ages 65 to 74 carry some form of debt, often including mortgages, auto loans, and credit card balances. Financial experts say the key isn’t necessarily eliminating every debt before retirement, it’s understanding the difference between manageable debt and debt that threatens your financial security.
As a few high-profile companies prepare to go public, (Elon Musk’s SpaceX, and AI heavyweights Anthropic and OpenAI) experts are reminding investors that IPOs can offer exciting opportunities, but they also come with significant risks. While retail investors have more access to IPOs than ever before, it’s important to look beyond the hype and carefully review a company’s financials, business model, valuation, and risk disclosures before investing. This article offers five important things to consider before investing in the next market newcomer.
Your 20s are a critical decade for building wealth, but common financial missteps can quietly erode your future earnings and savings. Lifestyle inflation, excessive debt, neglecting emergency savings, and delaying investing are among the biggest traps young adults face. While these decisions may seem minor at the time, they can significantly reduce long-term wealth due to the lost power of compound growth.
For many millennials, even major accomplishments (landing a promotion, buying a home, or paying off debt) can be overshadowed by economic anxiety. Having lived through events like the 2008 financial crisis, the pandemic, inflation surges, and repeated layoffs (just to name a few), many have developed a habit of immediately preparing for the next setback rather than fully enjoying their victories. The article argues that this mindset isn’t pessimism or ingratitude, it’s a rational response to years of economic uncertainty.
Until next week - stay informed, stay intentional.
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