Market Performance: December 22, 2023.

US stocks climbed Thursday to rebound after the major indexes suffered their worst daily sell-off in months. The S&P 500 (^GSPC) popped about 1%.

The Dow Jones Industrial Average (^DJI) rose 0.9%, while the teach-heavy Nasdaq Composite (^IXIC) gained more than 1.2% after both indexes had snapped nine-day win streaks. Thursday brought a wave of economic data:

The final reading of Gross Domestic Product for the third quarter showed the US economy grew 4.9% on annualized basis in the period, below the consensus estimate for 5.2% growth. Meanwhile, the latest data on initial jobless claims showed 205,000 people filed for unemployment insurance in the week ending Dec. 16. Economists had estimated 215,000 claims were filed.

Here’s the top place Americans get financial advice – even young Americans

More than half of Americans (57 percent) sought out financial advice in 2023, and their top resource may surprise you, according to a new Bankrate survey. Friends and family topped the “go-to” list, with 47 percent of those seeking advice saying they tapped these sources for information.

Popular sources of information differed strongly by age group. Younger generations were among the most likely to hit up friends and family for advice and were also the most likely to use social media for their financial questions, too. In contrast, older generations were least likely to use social media for advice and were the most likely to use financial advisors.

Despite these numbers, 43 percent of Americans said they did not seek financial advice in 2023. Older Americans were more likely to not seek out advice than younger generations.

Here’s the full rundown of where Americans get their financial advice from, by age and income. Given the wide variety of sources of financial information and the ability of almost anyone to offer advice, Americans need to carefully vet financial guidance before taking action.

Strategies for Effective Cash Flow Management in Uncertain Times

Cash flow management is integral to running a company, but many companies fail because of it. Many organizations find it’s getting trickier to navigate the complex modern business landscape. Learning what effective cash flow management entails can help them thrive in any risky environment.

Cash flow management is the process of understanding and optimizing monetary inflows and outflows to sustain a company’s operations. It involves staying on top of financial transactions, like tracking spending and customer payments. Organizations must ensure their cash inflow is more significant than their outflow to continue doing business.

Here are several strategies businesses can use to ensure effective cash flow management during economic uncertainty.

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