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Good morning investors! Stocks showed some signs of strength yesterday and investors are now discussing December’s ADP Payroll report that highlighted the addition of 164,000 jobs, higher than the estimated figure of 130,000. Wage growth slowed, with those staying at jobs seeing a 5.4% YoY increase and job hoppers seeing an 8% increase. Moreover, jobless claims dropped to their lowest level since mid-October.

Today we cover:

• Online holiday sales hit a new high.

• The Nasdaq is on a losing streak.

• Finding a job when you’re older.

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📊 Economy and News 

Online holiday spending hits new highs

Online spending during the holiday season saw a massive increase of about 5% to $222.1 billion in the last quarter of the year, showing consumers are still interested in spending money.

Discounts played a very important role in attracting consumers. Plus, buyers appear to be leaning heavily on ‘buy now, pay later’ services to cover more of their purchases.

In a surprise change, more purchases rather than higher prices drove spending in 2023. A large number of products have become more affordable compared to last year including electronics. E-commerce prices were down 5.3% year over year in December.

Preparing for earnings: This could result in a good quarter for retailers like Amazon, Target, and Walmart. Most are expected to report earnings in February.

Global hits:

• Markets UK mortgage rates are finally falling as homeowners hope for some relief.

• NCAA and ESPN ink 8-year, $920 million media rights deal.

• Hyundai and Kia thefts have soared more than 1000% since 2020, and some are blaming TikTok for it.

📈 Stocks

S&P 500 4,688.68 (-0.68%)
DJIA 37,440.34 (+0.027%)
NASDAQ 16,282.01 (-0.53%)
BRENT CRUDE 78.02 (+0.55%)
* Prices as of Jan 5th, 12:20 AM UTC

This is Nasdaq‘s longest losing streak since October 2022

The Nasdaq Composite closed lower on Thursday for a fifth consecutive session — its longest losing streak since October 2022.

Big names like Apple and Amazon are underperforming. Apple has taken a beating and has been downgraded by Piper Sandler, two days after Barclays also lowered its rating.

Experts see this as a correction and expect the market to recover in the second quarter, if the earnings reports are positive. Furthermore, they see the S&P 500 ending the year at the 5,000 mark, which would indicate more than 6% upside from here.

Also check: Microsoft unveils ‘Copilot’ key, its biggest update to Windows keyboard in 30 years. The Daily Upside Patent Drop 

Sponsored by Patent Drop

What Do The Masterminds Behind Apple, Microsoft, & Alphabet All Have in Common?

They all subscribe to Patent Drop, a free twice-weekly newsletter by The Daily Upside.

While chance encounters may occur at Equinox or amidst the bustle of Sun Valley, tech visionaries, entrepreneurs, and savvy investors consistently turn to Patent Drop for nuanced coverage of the tech-industry.

Each week, the team at Patent Drop  scrapes the U.S. Patent and Trademark website to unearth where tech darling’s are inputting their time, energy, and money. Complemented by interviews with industry experts, Patent Drop  offers digestible analysis to keep you one step ahead of the bleeding edge.

Instead of keeping up with the Jones’, keep up with technology.

🔐 Crypto

Bitcoin $43,596.90 (-1.44%)
Ethereum $2,248.52 (-0.98%)
Total market cap $1.68 (+2.75%)
* Prices as of Jan 5th, 12:20 AM UTC

A look at crypto

Here are a few links worth checking:

• Goldman Sachs is in talks to play the key role of being an "authorized participant" for BlackRock and Grayscale's Bitcoin ETFs.

• Crypto VC Polychain Capital confirms its founder’s X account is hacked.

• Bitcoin is once again eying the $45,000 mark.

• Investment bank TD Cowen predicts the U.S. Securities and Exchange Commission (SEC) will approve a spot Bitcoin exchange-traded funds (ETFs) by the Jan. 10 deadline as a “political necessity.”

💵 Personal Finance

Finding a job when you’re older

People are now working into their 60s and the average retirement age in most countries is on the rise; however, some find it difficult to get a job when they’re older.

Why is this happening?

There are three main reasons why people are working more:

• Retirement savings have taken a big hit. 🔨 

• Inflation has caused people to worry. 👴 

• People want to have a social life and contribute to society as much as they can. 🎊 

So, what can you do?

Companies want new blood but there’s no substitute for experience. There are jobs for everyone but only if you look in the right place and make the right pitch.

Here’s what you can do to find a job when you’re older:

Continue to gain skills

Invest in continuous education by getting enrolled in online courses, learning the latest skills, and improving what you bring to the table. You’ll be competing with today’s generation so you have to be good.

Some official programs such as the Senior Community Service Employment Program (SCSEP) can be great to look at. The SCSEP helps older adults get training skills and job placement to re-enter the workforce. Furthermore, there are several other institutes specifically offering training and skill upgrades to seniors.

Look for a part-time or online job

It might be a good idea to look for part-time jobs if you’re struggling to find a full-time position. Similarly, online work is typically easier to find. Moreover, it’s also more flexible and often easier for older people. You will, however, have to understand the latest technology to be able to work from home.

Get in touch with companies that hire older workers

Some companies have publicly pledged to level the playing field for older workers and are open to hiring seniors. These include names like McDonald’s, Humana, Microsoft, and Marriott International. These organizations are a part of the AARP Employer Pledge program and do not discriminate based on age.

A look at this job board can help you find such companies. Furthermore, look at organizations certified by The Age-Friendly Institute. These are known for being great for people above 50.

Use your connections

Networking can be a great way to find a job. Join support groups for seniors and stay in touch with your old employers and ask if they have a suitable opportunity. Since they’re aware of your skills, they’re highly likely to hire you if they have the right vacancy.

 Still have questions? Check this video:

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👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.