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Today in the Market (1/29/2024)

Good Morning! On Monday, U.S. markets rose significantly, with the S&P 500 achieving another all-time peak as investors prepared for a busy week of earnings. On top of that, the Fed will come out with their interest rate decision and the U.S. jobs report will be released this week.

The Dow Jones looked a little red but had a surge at the end of the day, ending up 0.59%, while the S&P 500 increased by 0.76%. The NASDAQ sat in the green all day and finished up 1.12%.

GET READY FOR MORE ADS

If you start noticing ads while you watch The Boys, don’t be alarmed! Amazon Prime Video is entering the ad-tier market. But why now? Well, according to some analysts, this could provide Amazon (AMZN) with more than $5 Billion in revenue

So what are your options? Well, you can always terminate your membership to Amazon Prime Video, or just for a low low price of $3 a month, you can continue watching your show uninterrupted with no ads! 

Isn’t Amazon kinda late to the game? Well, yes but they could have an edge on the market. Amazon has a surplus of consumer data that other companies lack. Given that over 70% of individuals in the U.S. are Amazon Prime members, the company may use their purchasing history to provide more focused advertisements and offer advertisers greater assurance of a favorable return on their marketing investment.

However, it won’t be that easy. According to ad buyers interviewed by the WSJ, a significant disadvantage that Prime Video has versus Netflix and Disney+ is a lack of popular shows. The impression must be corrected, as Amazon is already behind on entering the market.

TAX TIME!

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Wake Up! Today starts the national filing season for 2023! As of today, the IRS has started accepting and processing federal tax returns for 2023. Of course, the deadline to submit your tax return is still April 15th, without an extension.

It will be busy at the IRS! The IRS anticipates receiving around 130 million individual tax returns by April 15, with over 93% of the returns submitted electronically. If you want the most efficient and simplest method to submit and get your tax refund, then using electronic filing and opting for direct deposit is the way to go!

What else can we expect for this tax season? The IRS has been diligently enhancing its filing system after receiving funding from the Inflation Reduction Act. Taxpayers now have access to upgraded features such as better digital communications, extended operating hours at tax assistance centers, shorter waiting times for IRS contact centers, and an updated “Where’s My Refund?” tool!

 

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