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📊 This Week in Finance Week Ending May 2, 2026
The S&P 500 and Nasdaq closed Friday at new all-time highs, with both indexes recording their sixth consecutive weekly gain, the longest such streak since October 2024. The S&P rose 0.29% to close at 7,230, while the Nasdaq gained 0.89% to close at 25,114. The moves capped the strongest monthly performance for both indexes since 2020, lifted by a strong earnings season and growing hopes for a peace agreement in the Middle East. The Dow edged down 0.31% to 49,499. FidelityABC7 News
Earnings: Apple gained more than 3% after posting a strong earnings and revenue beat, with solid iPhone sales and a robust performance in China. ExxonMobil and Chevron both exceeded profit expectations as well. With most of the Mag 7 now reporting, this earnings season has largely delivered. NPR
The Fed: In what is likely Jerome Powell's final meeting as Fed chair, the FOMC voted to hold the benchmark rate steady at 3.5% to 3.75% in a dramatic 8-4 split decision. Powell announced he will remain on the Board of Governors until ongoing legal challenges to the Fed's independence are resolved. Markets are now pricing in zero rate movements for the rest of 2026, with the first potential cut not expected until late 2027. Charles SchwabOppenheimer
Why it matters to you: Record highs and a strong earnings season are good news. But with rates on hold and a new Fed chair incoming, borrowing costs aren't dropping anytime soon. Stay invested, stay diversified, and keep building your long-term plan.
📌 Did You Know?
Nearly half of working-age Americans in the private sector have no retirement account at all. Among Gen Zers and young millennials aged 18 to 34, that number climbs to 57%. Yahoo Finance
Here's the number that should keep you up at night: when you include all workers regardless of whether they have savings, the median amount saved for retirement across all working Americans is just $955.
Bottom line: Most people aren't behind on retirement savings because they're irresponsible. They're behind because nobody taught them the basics. That's exactly why Money Basics exists.
🌱 MONEY & LIFE: "I Know I Should Be Saving. I Just Don't Know Where to Start."
This is the most common thing people say in their first conversation with a financial professional. Not "I don't want to save." Not "I can't afford it." I just don't know where to start.
And that's completely fair. Nobody hands you a financial playbook when you turn 18.
Here's the framework that cuts through the noise:
Do you have $1,000 set aside for emergencies? If not, that's step one. Before investing, before debt payoff, build a small buffer so one unexpected bill doesn't derail everything.
Are you leaving free money on the table? If your employer offers a 401(k) match and you're not contributing enough to get it, you're turning down part of your compensation. Contribute at a minimum to capture the full match.
Do you know the difference between a Roth and a Traditional IRA? If not, that's not a gap in discipline. That's an education gap, and it's one worth closing this week.
The basics aren't complicated. They're just rarely taught. That changes today.
💡 Financial Move of the Week
Start Your Retirement Plan This Week, Even If You're Starting From Zero.
The 2026 IRA contribution limit is $7,500, with a catch-up contribution of $8,600 for those 50 and older. Most people never get close to that number, but that's not the point. The point is starting. Nasdaq
Here's what to do this week:
Open a Roth IRA if you don't have one. Fidelity, Vanguard, and Schwab all allow you to open one in under 15 minutes with no minimum balance. A Roth grows tax-free, and your withdrawals in retirement are tax-free. For most people just starting out, it's the best first account.
Set up automatic monthly contributions. Even $50 a month invested consistently over 30 years at a 7% average return grows to over $60,000. Automation removes the discipline requirement; it just happens.
If your employer offers a 401(k) match, increase your contribution today. Log in to your HR portal and raise your contribution by even 1%. You won't feel it in your paycheck, but you'll feel it in 30 years.
You don't need a lot of money to start. You need to start.
Apple’s Starlink Update Sparks Huge Earning Opportunity
Apple just secretly added Starlink satellite support to iPhones through iOS 18.3.
One of the biggest potential winners? Mode Mobile.
Mode’s EarnPhone already reaches 490M+ users that have earned over $1B, and that’s before global satellite coverage. With SpaceX eliminating "dead zones," Mode's earning technology can now reach billions more in unbanked and rural populations worldwide.
Their global expansion is perfectly timed, and investors like you still have a chance to invest in their pre-IPO offering at $0.52/share.
With their recent 32,481% revenue growth and newly reserved Nasdaq ticker, Mode is one step closer to a potential IPO.
Please read the offering circular and related risks at invest.modemobile.com. This is a paid advertisement for Mode Mobile’s Regulation A+ Offering.
Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur.
The Deloitte rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period.
🏛️ TAX TIP OF THE MONTH
The Roth IRA Deadline You Might Be Missing
Most people know April 15 is the tax filing deadline. Fewer people know it's also the deadline to make IRA contributions for the prior tax year.
If you missed it this year, that's okay, you have until April 15, 2027, to make your 2026 IRA contribution. That means you have nearly 12 months to contribute up to $7,500 to a Roth or Traditional IRA and have it count toward this tax year.
Here's the move: don't wait until next April. Set up a monthly automatic contribution now; even $200 a month gets you to $2,400 by year's end. Small, consistent contributions beat a last-minute scramble every single time.
If you're unsure whether a Roth or Traditional IRA is right for your tax situation, that's exactly the kind of question worth a 15-minute conversation with a licensed advisor. The answer depends on your income today versus where you expect to be in retirement, and getting it right matters.
📰 Worth Reading
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✍️ Final Word
This week I'm doing something I've been working toward for a while. I'm releasing my first ebook, Money Basics. I wanted to make this eBook available to my loyal readers and subscribers first. So if you’re reading this, that’s you, and Thank You. The link is right below to purchase this book and support this financial freedom movement.
It came out of the same conversations I have every week. Smart, hardworking people who just never had anyone sit down and explain how money actually works. No complicated financial terms, no judgment. Just the fundamentals, budgeting, saving, investing, retirement, and protection, written the way I'd explain it to someone I care about.
If that's you, or someone you know, this is for you.
Money is not complicated. It's just rarely taught.
Until next week — Plan with Purpose. Prosper with Confidence.
Emmanuel S. Desmolieres, Founder, Plan & Prosper LLC, operating as Planning and Prospering.