| nett.daily |
Thursday, October 29, 2026 |
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For information only. Nothing in this issue is investment advice or a recommendation to buy, sell or hold anything.
Read our disclaimer.
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| Happy Thursday! Here's what your money needs to know today. |
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S&P 500
7,744
▲ 0.28%
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10-yr rate
5.05%
▲ 0.05 pts
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30-yr mortgage
7.32%
▼ 0.08 pts
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Full numbers further down. Information only.
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🏠 Housing · Lead story
San Diego Rent Climbs 1.2%, Averages $2,587
| $2,587 |
Average monthly rent in San Diego County, according to CoStar. |
San Diego County rents averaged $2,587 a month, up 1.2% from a year ago. That's roughly $30 more a month, and the first notable rise in nearly three years. Why? A wave of new apartments left landlords competing for renters, and one complex offers up to 10 weeks free. Free weeks are the housing market's version of a coupon.
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Yearly rent growth in San Diego County
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➜ Do this
If you're renting or renewing, ask about free weeks or a lower rate. Then divide the total lease cost by the number of months to see what you really pay.
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Read more → |
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🗳️ Fed
Fed Cuts Rate Votes to Seven Next Year
The Fed (the US central bank, whose key interest rate shapes loan and savings rates) will vote on that rate seven times next year, not eight. It still meets eight times, but one fall meeting will focus on big-picture strategy, with no vote. Chair Kevin Warsh expects six votes in 2028. Why? He says the group needs time to rethink its approach. Think of it as a company offsite, with higher stakes.
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➜ Do this
Check your credit card statement for the APR (the yearly interest rate) and whether it says "variable." Variable rates move with the Fed's rate, which now has fewer scheduled vote dates.
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Read more → |
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🎙️ Fed
Bond Investor Weighs In on Fed Pause
Jeff Gundlach, a bond investor (someone who lends money to governments and companies in return for interest), went on CNBC after the Fed held interest rates steady. He discussed the pause and the plan to cut one rate-setting vote next year. For your wallet, a pause just means the Fed's key rate stayed where it was.
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➜ Do this
Look up the APY (the yearly return) on your savings account and compare it with two or three online banks. A steady Fed rate means no new nudge either way.
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Read more → |
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🏙️ Housing
New York Median Rent Hits Record $3,785
New York City's median asking rent (the middle price landlords are listing) hit a record $3,785 in the third quarter. That's up 4.5% from a year earlier, or roughly $160 more a month, and nearly 28% above pre-pandemic levels. Mayor Zohran Mamdani, who is working to lower housing costs, has a 69% favorable rating among city voters, up from 60% in September.
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➜ Do this
Compare what you paid a year ago with what you pay now. Use 4.5% as a reference point if your landlord proposes an increase, though it measures new listings, not renewals.
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Read more → |
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🏛️ Personal finance
Social Security's Yearly Raise May Change
Changing the cost-of-living adjustment, or COLA, is being floated as a way to save Social Security. COLA is the yearly raise in benefit checks meant to keep up with rising prices. A different formula could mean checks grow more slowly or more quickly. For now it's an idea, not a done deal.
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➜ Do this
Log in to your my Social Security account at ssa.gov and note your estimated monthly benefit. That's the number any change to the yearly raise would affect.
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Read more → |
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➜ 💰 Money Move of the Day
Look Up Your Social Security Estimate
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Go to ssa.gov and create a free "my Social Security" account. |
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You'll need your Social Security number, an email address and a few minutes to confirm who you are. |
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Then find your estimated monthly benefit and your work record, and fix anything that looks wrong. |
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Ideas like changing the yearly raise are still just ideas, but knowing your starting number helps you plan around them. |
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🔢 One Number
$3,785
New York City's record median asking rent a month
| $1,900 a year |
New York's median asking rent is up roughly $160 a month from a year ago, which adds up to about $1,900 over twelve months. |
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That's the middle price landlords are listing for an apartment, and it's nearly 28% higher than before the pandemic, so housing eats up more of each paycheck. |
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⚡ Quick hits
⛽ Namibia lifts rates: Namibia raised its key interest rate (the rate that guides borrowing costs) to blunt knock-on price rises from expensive fuel. More →
🏦 Fed chief gets firm: The head of the Fed, America's central bank, spoke firmly about fighting inflation (prices rising over time). More →
🇬🇧 UK price outlook: The UK's official budget forecaster, the OBR, expects prices to rise 3.4% on average in 2027. More →
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🤖 AI Watch
What's happening in artificial intelligence, and why it might matter to you.
✈️ Adani Company Loses $10 Billion in Value
Adani Enterprises, a big Indian company, has lost about $10 billion in value ahead of its results on Wednesday. Focus is on its airports, copper and a Jabil venture making gear for AI data centers (buildings packed with computers).
➜ Why it matters to you
Few of us own this company directly, but it shows that even giant firms can swing sharply, which is why long-term savers usually hold many companies at once. Read more → |
🔎 Google Takes AI Search Ads Worldwide
Google is bringing ads inside its AI-powered search answers to more countries. Its search ad sales grew 12% from a year ago, slower than the 17% and 19% growth of the two quarters before.
➜ Why it matters to you
Ads pay for free tools like Google Search, so you may start seeing more of them inside AI-written answers. Read more → |
🤝 Microsoft Earned $10 Billion From OpenAI
Microsoft said it made $10 billion from deals with OpenAI, the maker of ChatGPT, in the three months ended September 30. That is nearly 11% of its $92.3 billion in sales for the period, even as the two companies compete for the same customers.
➜ Why it matters to you
The AI tools you use at work or at home often come from companies whose finances are closely linked. Read more → |
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📘 Term of the Day
Inflation
Inflation is the slow rise in prices over time, so each dollar buys a little less than before. It is usually measured as how much prices went up compared with a year ago.
For example: If prices rise 3% in a year, $1,000 of groceries now costs about $1,030, which is why Social Security checks get a yearly raise. |
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📊 The Numbers
▲ means up, ▼ means down. These move every day, so one day rarely matters much.
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S&P 500
500 big US companies · close, Oct 28
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7,744
▲ 0.28%
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10-year US bond rate
Affects loan and mortgage rates
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5.05%
▲ 0.05 pts
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30-year mortgage rate
average, week of Oct 22
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7.32%
▼ 0.08 pts
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More numbers
| Nasdaq (mostly tech companies) |
26,550 ▲ 0.27% |
| Dow (30 big US companies) |
52,475 ▲ 0.19% |
| US dollar strength |
121.3 ▼ 0.03% |
| Oil (per barrel) |
$102.78 ▲ 2.88% |
| Market fear gauge (VIX) |
16.9 ▼ 0.61 pts |
| Fed's key interest rate |
3.75-4.00% |
| 15-year mortgage rate |
6.68% ▼ 0.03 pts |
The bond rate affects loan and mortgage rates. The fear gauge rises when investors are nervous. Index closes are from Oct 28; mortgage rates are national averages from Freddie Mac's weekly survey, and the rate you're offered depends on your credit score and down payment. Sources: Yahoo Finance, with FRED (Federal Reserve Bank of St. Louis) as backup and for the dollar and mortgage rates.
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🪙 Gold, Silver & Bitcoin
Per ounce for gold and silver, per coin for Bitcoin (metals as of Oct 29).
Day
▼ 0.3% | Week
▼ 0.6% | Month
▼ 3.4% |
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▼ 1.2% | Week
▼ 3.5% | Month
▼ 12.9% |
Day
▲ 1.4% | Week
▼ 3.3% | Month
▼ 2.6% |
Gold & silver this week: Gold slipped about 0.6% this week to $4,038 an ounce, and silver fell about 3.5% to $52.83. Two things that usually help both metals, interest rates after inflation dipping (down 0.13 percentage points) and a slightly weaker US dollar (down 0.07%), moved the "helpful" way, yet prices still fell, so the signals didn't line up this week. Expected inflation barely changed, so it gave no clear push either way.
What usually moves gold & silver (past week):
Interest rates after inflation: 2.64% ▼ 0.13 pts (lower rates tend to help gold)
US dollar strength: ▼ 0.07% (a weaker dollar tends to help gold)
Expected inflation: 2.38% ▲ 0.01 pts (inflation worries tend to help gold)
Gold is worth about 76× silver per ounce. Bitcoin: Bitcoin dropped about 3.3% this week to $81,274, and it is down about 2.6% over the past month. It rose about 1.4% today, so the week's dip is a small wobble in a coin known for big swings.
Information only, not a forecast or advice. Sources: Yahoo Finance (metals), CoinGecko (Bitcoin), FRED (rates, dollar, inflation).
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"A zen master's life is one continuous mistake."
✨ Quote of the Day · Dogen
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| That's your five minutes. Go make your money work as hard as you do. 💪 |
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nett.daily
Nett Daily provides financial news and information only. It is not investment, financial, tax or legal advice,
and nothing in it is a recommendation to buy, sell or hold any security, cryptocurrency, commodity or other product.
Market data may be delayed or approximate. Investing involves risk, including loss of principal.
Please consult a licensed professional before making financial decisions.
Full disclaimer.
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