Market Performance: January 17, 2024.

US stocks stumbled on Tuesday, with investors still focused on the path of interest rates after a lackluster start to earnings season that kicked off with big bank results. Boeing (BA) dragged on the Dow Jones Industrial Average (^DJI), which ended the session down 230 points, while the S&P 500 (^GSPC) shed 0.4%.

The tech-heavy Nasdaq (^IXIC) ended slightly lower despite flipping into green territory several times during trading as chipmakers Nvidia (NVDA) and Advanced Micro Devices (AMD) rose.

Goldman Sachs stock (GS) ended fractionally higher after the bank reported a fourth quarter earnings jump of 51% year over year. Goldman Sachs said its full-year net income of $8.52 billion for 2023 was down 24% as dealmaking slowed across the industry.

Do I need a financial advisor? When you should consider getting one

When it comes to managing your money, you don’t want anyone messing it up — and that includes you. There might come a time where you need to call in reinforcements and hire a financial advisor, especially when you’re making big decisions with your money.

Not everyone’s financial situation calls for the extra help, but in some instances you might need one. Here’s how to tell if getting a financial advisor is right for you.

What financial advisors do

A financial advisor helps individuals manage their money and map out their financial futures. For example, financial advisors can help you plan for retirement, budget, plan your estate and more. They also help you set your personal financial goals to reach milestones.

For instance, some people might want to buy a house soon while others are focusing on saving for retirement. A good financial advisor takes into account your family, age, career and priorities when crafting your financial goals, and then helps you find out how to reach them.

Keep in mind that goals change. Once you hit that next milestone or you feel like you want to change course, your financial advisor can help you figure out your next steps.

Should Banks Offer Gen Z'ers Money Advice on TikTok in 2024?

TikTok creators are devilishly effective at creating consumer demand. Increasingly, they are also advising their followers on how to pay for the lifestyles they promote — including occasionally dubious financial advice and can't-lose investment schemes. To fight off financial misinformation and guide consumers to reliable advice, banks can (and should) play an important role as responsible voices on the platform, all while growing customers.

It’s no surprise that Gen Z spends a disproportionate amount of time on TikTok. In a few short years, the social media app has become an enormous influence on music, dance and fashion among younger people.

The allure of tips from friends and influencers, however, becomes more fraught when the hot topic is money. Already, the influence of TikTok is puts heavy pressure on young Americans to spend.

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