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Good morning investors! We only have good news to share as stocks continue to climb higher.

Today we cover:

• Home sales surge.

• Reddit enters the market.

• Apple gets sued.

📊 Economy and News 

Homes are in demand

In a surprising turn, sales of pre-owned homes in the US surged in February to reach their highest level in a year, indicating a resurgence of buyer activity in the market. Also, there has been a sharp increase in the number of homes that are up for sale – jumping 5.9% in February from the prior month, to 1.07 million units.

Sales of existing homes, comprising the majority of the housing market and encompassing single-family homes, townhomes, condominiums, and co-ops, increased by 9.5% in February compared to the previous month, reaching a seasonally adjusted annualized rate of 4.38 million units.

Sales are surging after a decline to historically low levels last due to high rates. But, it’s not the only thing that’s going up.

The median national price of an existing home increased by 5.7% in February compared to the previous year, reaching $384,500. This uptick represents a larger annual increase than the previous month and marks the highest median home price for any February on record.

Global hits:

• Dubai’s Parkin surges 30% on trading debut in UAE’s first IPO of the year.

• Turkey’s central bank raises interest rate to 50% despite previous hints of end to hike cycle.

• Wary of inflation, Taiwan central bank raises key rate in surprise move.

Reminder: 10% of US workers are in jobs most exposed to artificial intelligence, White House says. On the plus side, Target has doubled bonuses for salaried employees.

📈 Stocks

S&P 500 5,241.53 (+0.32%)
DJIA 39,781.37 (+0.68%)
NASDAQ 18,320.38 (+0.44%)
BRENT CRUDE 85.73 (-0.20%)
* Prices as of Mar 22nd, 12:20 AM UTC

US sues Apple

Attorney General Merrick Garland unveiled a groundbreaking lawsuit against tech titan Apple, alleging several offenses, such as:

• Exploiting its dominance over iOS, the iPhone's operating system, to hinder the availability of innovative new applications and cloud streaming services to the public.

• Degrading the presentation of Android messages on iPhones.

• Imposing limitations on how rival smartwatches can interact with iPhones.

• Impeding the adoption of competing payment solutions.

Garland asserted that Apple's monopoly in the smartphone industry is not due to the superiority of its products.

"We allege that Apple has consolidated its monopoly power, not by making its own products better, but by making other products worse," Attorney General Merrick Garland said in a news conference on Thursday.

The news sent stock -4.09% lower but the case could take years to play out as it moves through the justice system. However, there’s also some good news because Apple seems to be taking China seriously again. It’s making efforts to boost sales.

Another case: Birkin is also facing an antitrust lawsuit as shoppers allege they are too hard to buy.

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💵 Personal Finance

How many credit cards should you have?

The average American has 4 credit cards. But is that too many? The opinion is divided.

Why it matters

It matters because credit cards impact your credit score, offer you benefits such as discounts, and can put you in debt.

Just because everyone else is having four credit cards doesn’t mean you should have four too. It might be too much (or too little) for some people.

So, how to decide?

Understand your needs and wants.

There are cases when having multiple credit cards can be beneficial. Rewards credit cards, for example, can help you cut costs if you’re using a card that rewards you for purchases you were already planning to make.

Here are some of the best rewards cards in the US (not sponsored):

• Chase Freedom Unlimited® with cashback and bonuses.

• Capital One Venture Rewards Credit Card with travel perks.

• Blue Cash Preferred® Card from American Express with special discounts for family members.

• U.S. Bank Altitude® Connect Visa Signature® Card for road trips.

All these cards come with specific perks and some are even co-branded, i.e.: designed to be used with a specific brand.

You have to decide the benefits you require. For example, if you are a frequent flyer then consider a card that gives you access to airport lounges, discounted upgrades, and airline points. Some top options include the United Club℠ Infinite Card and Chase Freedom Flex℠.

Now, someone who flies may enjoy eating as well. Since cards designed for flyers do not always come with food-related discounts, you may have to order a second card. Next, you may have to order a third card if you drive a lot and need a card that offers cashback on fuel.

So, understand your requirements and then decide how many cards you need and see if a single card can offer all that you require.

But, how many is too many?

You will never get punished for having too many cards. Your only worry should be to ensure you pay on time and don’t pay unnecessarily, i.e.: annual fees.

Credit bureaus suggest that five or more accounts — which can be a mix of cards and loans — is a reasonable number to build toward over time.

You can consider living a debt free life by avoiding credit cards but that means not having access to discounts (when you can) and letting go of opportunities to improve your credit score.

💰 Be a Better Investor

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

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