Market Performance: May 7, 2024.

US stocks finished close to where they started Tuesday but largely built on a string of gains amid growing hopes for rate cuts later this year.

Meanwhile, investors soured on Disney's (DIS) earnings, sending the stock down sharply. The Dow Jones Industrial Average (^DJI) rose just under 0.1%, or about 30 points, while the S&P 500 (^GSPC) ticked up 0.1% for its fourth consecutive positive session. The tech-heavy Nasdaq Composite (^IXIC) edged down about 0.1%.

In the corporate world, results from Disney took center stage as the media giant delivered its first quarterly earnings since winning its proxy fight with activist Nelson Peltz last month. The company's earnings beat Wall Street estimates as a key part of its direct-to-consumer streaming business — which includes Hulu and Disney+ — turned its first profit. But shares tumbled over 9% after the company said it expects weaker results in that segment for the current quarter.

Prior to the sideways movement, stocks had gained significant ground as confidence grew that a "Goldilocks" jobs report will give the Federal Reserve reason to ease up on historically high rates — a belief bolstered by comments from policymakers on Monday.

4 key money changes to come into effect from May 1 that investors should know

Get ready for some significant money changes coming your way this May! Big players like Yes Bank and ICICI Bank are introducing a number of changes with revisions proposed to their savings account charges and credit card rules, effective May 1, 2024.

Meanwhile, HDFC Bank's senior citizens special FD is set to end on May 10, according to the latest updates on their website. Let’s take a closer look at all the financial updates that will impact you starting next month.

1. Savings account charges

Yes Bank, a private sector lender, has updated its savings account charges schedule. Effective from May 1, 2024, these changes, as per the official announcement on the Yes Bank website. The bank has also discontinued certain account types.

2. Changes to credit card utility transaction fees

Effective May 1, 2024, Yes Bank has revised various aspects of its credit card policies, with the exception of the 'private' credit card type. As per the latest update on the Yes Bank website, utility transactions totalling over ₹15,000 in one statement cycle, including payments for gas, electricity, and other services, will incur a 1% tax in addition to GST. However, this extra fee will not be applicable to transactions made using the Yes Bank Private Credit Card.

3. ICICI Bank updates savings account service charges

ICICI Bank has recently revised the service charges for various services, including cheque book issuance, IMPS, ECS/NACH Debit Returns, stop payment charges, and more. These updates are scheduled to come into effect from May 1, 2024, as announced on the ICICI Bank website.

4. Deadline extended for HDFC Bank's senior citizen care FD

HDFC Bank has extended the deadline to invest in its fixed deposit scheme designed especially for senior citizens. Known as the Senior Citizen Care FD, this special scheme offers higher interest rates and was initially launched in May 2020. The last date to invest in this beneficial FD plan has now been extended to May 10, 2024.

Higher Internet Bills Will Hit Millions of US Households as Soon as Tomorrow. How You Can Save Money

We're approaching the end of one of the largest investments in US history when it comes to closing the digital divide. Starting this month, recipients of benefits from the Affordable Connectivity Program will see their home internet bills increase by $30 to $75 per month.

In a little over two years, the program enrolled more than 23 million low-income households. Nearly half of ACP subscribers have been military families, according to a White House fact sheet. Seniors, African Americans and Latinos have also relied on the ACP at higher rates.

There’s no one resource that can replace the $14.2 billion ACP, but there are a variety of local and state subsidies, nonprofits and discounted plans from providers that can help ease the transition.

Lifeline

Lifeline is a federal subsidy that provides $9.25 per month to low-income households for home internet or cellphone plans. Its eligibility requirements are a little stricter than those of the ACP. Your income must be 135% or less than the Federal Poverty Guidelines, or $40,500 for a family of four.

State and local resources

Some states and cities across the country offer their own local versions of the ACP to help low-income households pay for internet. California, for example, has a website that allows you to search affordable options in your ZIP code based on various eligibility criteria, and Oregon provides an enhanced Lifeline benefit of $19.25 monthly.

Low-income programs from internet providers

Many internet providers have their own discounted plans available for low-income households, including AT&T, Spectrum and Xfinity. Requirements vary, but they're usually similar to the ACP: one must meet certain income requirements or participate in a federal program like SNAP or the National School Lunch Program.

Nonprofit organizations

There are a number of nonprofits around the country with the goal of closing the digital divide. Some help with monthly internet costs, while others provide devices that connect you to the internet. These organizations all received nonprofit status from the IRS and were vetted by watchdogs like Charity Navigator and Guidestar.org: Connect All, EveryoneOn, Human-I-T, Internet for All Now, and National Digital Inclusion Alliance.

Explore other internet plans in your area

If your bill's going up dramatically with the end of the ACP, another option is to search for other internet providers in your area. Most ISPs offer plans under $50 monthly, and you can often find additional discounts for things like bundling with a cellphone plan or signing an annual contract.

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