Market Performance: April 4, 2024.

Stocks tumbled on Thursday in a bout of volatile trading ahead of the March jobs report. A spike in oil prices and fears the Federal Reserve could hold off on interest rate cuts also dented investors’ sentiment.

The Dow Jones Industrial Average lost 530.16 points, or 1.35%, to close at 38,596.98. The 30-stock Dow suffered its worst session since March 2023, and it logged its fourth consecutive losing day. The S&P 500 dropped 1.23% to end at 5,147.21. The tech-heavy Nasdaq Composite dipped 1.40% to close at 16,049.08.

The three major averages took a sharp downturn late in the session, falling more than 2% off their intraday highs. Between its highs and lows of the day, the Dow swung more than 860 points.

Crude oil jumped midday, which coincided with the rollover in stocks Thursday. WTI oil topped $86 a barrel to reach its highest level since October, raising concerns about energy prices helping to reaccelerate inflation.

3 money moves to make in your 30s to set yourself up for financial success

Your 30s are a decade often marked by big financial steps, from buying your first home to switching jobs to saving for future children. Here are three smart things to do with your cash as a thirtysomething, according to two certified financial planners.

Continue eliminating debt

While paying off debt should also be a focus for those in their 20s, you could be even better positioned in your 30s to focus on tackling outstanding payments, because you’re likely making more money, says Andrew Fincher, a CFP and financial advisor at VLP Financial Advisors. When you’re in your 30s and you have the ability to pay down more, that’s a great time frame to really try to not have that debt extended into your 40s.

Consider opening a 529 account

If you have or plan on having children, your 30s are a good time to think about opening a 529 college savings account to fund their future education — especially given that the average cost of college in the U.S. is over $36,000 per year and growing. A 529 plan is a tax-advantaged savings account sponsored and operated by all 50 states and the District of Columbia. Earnings and withdrawals from a 529 are tax-free if they are used for qualified education expenses. If you open a 529 account when your child is born, you’ll have around 18 years to save and grow your investments.

Boost your retirement savings

Your 30s are a great time to make sure your retirement savings are on track, and to potentially boost them. If your employer offers a 401(k) match, where it contributes money to the 401(k) based on how much you put in, make sure you’re maximizing it. “Look at trying to improve [your company retirement plan],” says says Joe Conroy, CFP and author of “Decades & Decisions: Financial Planning At Any Age.” “Maybe save 1% more every year for a couple of years to pump up your savings and get it to a better rate,” Conroy adds.

Start The Year Strong — Adopt These Money-Making Habits for Entrepreneurial Success in 2024

I’m not a billionaire, and I don't run a huge company. My ten-person tech consulting firm is small — tiny compared to many others. But I've been running it for more than two decades, and it's provided a very good livelihood for my family. As 2023 ends, I'm already getting ready for 2024. And I'm re-affirming these tried and true habits that I've practiced over the years to ensure that I'm able to still grow and profit.

Start the day at 5 am

I've been getting up at 5 am since, well, forever. The early morning is the time when I'm most productive. Everyone's asleep in the house. There are no emails or phone calls. I can focus on writing and other deeper thinking exercises. I do this right away after I get up. I get more done between 5 am and 7 am than most parts of the day.

Do accounting

Running a business involves passion and commitment. But in the end, the most important thing is math. Maybe I'm too subjective because I'm a certified public accountant, but I've found that my best and most profitable clients know their numbers. They watch sales daily. They get cash flow reports weekly. They track job costs. They analyze margins.

Visit clients

Maybe I'm too old school, but I've found that I always close more sales, and I keep longer-term relationships when I meet people face to face. Online meetings definitely serve a purpose. But humans physically like to be with humans.

Lean into AI

AI will dominate my technology strategy this year. I'm digging deep into my CRM and accounting software and researching with my vendors what AI tools they're rolling out to save me time and help my people be more productive.

Alternative Investing