- Benzinga Advisor
- Posts
- 85% Of The Next Generation Wants This
85% Of The Next Generation Wants This
Plus, the latest in market news.
Happy Sunday, and welcome to Benzinga’s financial advisor newsletter.
Today we're discussing financial literacy. While the next generation is eager to learn, a new study reveals they're still missing some of the most important investing basics. Read on to see why transferring financial knowledge may be just as important as transferring wealth.
Plus, a look at all the top stories and market activity from this past week.
Advisor Spotlight: If you would like your company to be featured in our upcoming Advisor Spotlight, click here to send us an email.
INDUSTRY CHATTER
Last month, we highlighted a report from TIAA Institute that showed financial literacy among Americans had fallen to its lowest level on record, and that roughly 25% of adults now falls into the very low financial literacy category.
But there is hope.
A recent survey offers a more encouraging perspective: the next generation is eager to learn. According to Intuit's latest Financial Education survey, 85% of U.S. high school students want personal finance taught in school, and among students who already receive financial education, an overwhelming 95% say it's helpful. That level of demand suggests financial literacy isn't a topic young people are avoiding — it's one they're actively seeking.
Can you blame them? High school students are growing up in a time of soaring vehicle and housing prices, persistent inflation, and growing uncertainty about their future due to AI. It's no surprise they're eager to learn the fundamentals now rather than figure it out later, especially as affordability has remained Americans' No. 1 financial concern for five straight years.
The survey also highlights where the biggest knowledge gaps exist. More than half of students say they don't understand basic investing concepts like stocks and bonds. Nearly half aren't familiar with retirement accounts such as 401(k)s, while many also struggle with taxes. Yet when asked what they most want to learn, the answers were remarkably practical: how to build wealth, save money, and avoid debt.
Perhaps one of the more surprising findings is where students are not getting their information. While social media often dominates conversations about financial education, only 19% of high school students say they use it as a primary source for personal finance. Instead, 81% still turn to their parents or guardians. That reinforces an important reality: financial habits often begin long before someone becomes a client.
For advisors, the takeaway goes beyond encouraging financial education, it may be a reminder to engage the next generation earlier. If today's high school students are entering adulthood with significant gaps in investing, retirement, and taxes, many future clients will likely carry those same knowledge gaps with them. Rather than assuming younger family members understand the basics, advisors can include them in family planning conversations and help prepare them for the financial decisions they'll eventually face. In many cases, transferring financial knowledge may be just as important as transferring wealth.
SPONSORED CONTENT
SpaceX (Ticker: SPCX) began trading on the Nasdaq this month. Behind the ticker is the mammoth company that launches most of the world's rockets and runs Starlink, the satellite network with more than 10,000 satellites in orbit.
A stock this big and this new doesn't trade quietly. Now there's a leveraged way to trade it.
Introducing the Direxion Daily SpaceX Bull 2X ETF (LOFF). LOFF seeks 200% of the daily performance of SPCX. It is built for active traders making short-term, daily-objective trades. Held longer than one day, its returns can differ significantly from 2X the underlying stock. Significant Risk Involved.
This is a paid ad. Please read the 17b disclosure here.
WEEKLY MARKET RECAP
As America approaches its 250th birthday, the Dow Jones Industrial Average — the oldest U.S. stock market index — capped a holiday-shortened week at fresh record highs, surpassing 52,500 points on Thursday.
The rally reflected a great rotation from AI capex names into the blue-chip industrials, benefiting from that same spending wave.
The SPDR Dow Jones Industrial Average ETF (DIA) has now risen 8.77% year-to-date, slightly outperforming the SPDR S&P 500 ETF Trust (SPY).
Semiconductors pulled back for the second straight week, with the iShares Semiconductor ETF (SOXX) slumping over 5%. The tech-heavy Invesco QQQ Trust (QQQ) had a flat performance, dragged by chipmakers.
Chart: Dow Bottomed At 6,460 Points In March 2009 – It Has Risen 8-Fold Since Then
Jobs Cool, Rate Hike Off The Table
Job growth cooled sharply in June, with payrolls rising just 57,000 — well below the 115,000 consensus and down from a revised 129,000 in May. April was also cut by 31,000, bringing combined revisions to a net minus 74,000.
The unemployment rate ticked down to 4.2%, but only because labor force participation fell to 61.5%, the lowest since March 2021.
That was exactly what markets needed to quell rate-hike fears. The odds of a July move collapsed to roughly 20%, and traders now fully price the next hike only by December.
Bettors on Polymarket now price in only a 10% chance of a hike in July.
Warsh Debuts In Sintra
In his first international appearance, Fed Chair Kevin Warsh warned investors at the ECB Forum in Sintra not to expect an accommodating central bank while inflation sits above 2%.
Anyone in households, business or financial markets expecting the Fed to tolerate inflation above 2%, he said, "would be disappointed."
Yet he also flagged that inflation expectations have “moderated” since his May 22 swearing-in — a subtle dovish hint.
The moderation reflects the continued collapse in oil prices. WTI crude tumbled to $67 a barrel this week, fully erasing the war premium built up since the Iran conflict began in February, as transits through the Strait of Hormuz normalized.
Magnificent Seven Rebound After Black June
After a brutal June, the Magnificent Seven rebounded across the board. Microsoft (MSFT) led the way, up 6.7% on the week following its worst month since 2000.
Nike’s Tariff-Powered Beat
Nike (NKE) reported fourth-quarter revenue of $10.97 billion, beating estimates. Headline EPS of $0.72 towered over the $0.13 consensus, but the beat was inflated by a $986 million IEEPA tariff refund — worth $0.52 per share. Strip that out and adjusted EPS came to $0.20, still above expectations.
Despite weakening sales in China, the stock rallied over 7% for the week.
BENZINGA NEWSLETTER SPOTLIGHT
Join our free daily market newsletter trusted by hundreds of thousands of investors and market professionals.
Whether you're preparing for client conversations or keeping a close eye on the markets, the Ring The Bell newsletter delivers the insights you need to stay ahead. Get breaking market news, the day's biggest movers, expert analysis, and a concise daily market recap — all in one place.
You'll also receive a look ahead at upcoming earnings, key economic reports, and market-moving events. If you're looking for a simple way to stay on top of the markets each morning, Ring The Bell is for you.
THE WEEK AHEAD
Economic Data
Monday: ISM services, S&P final U.S. services PMI
Tuesday: U.S. trade balance, API weekly crude oil stock
Wednesday: Wholesale inventories, Consumer credit, Fed Minutes (June FOMC)
Thursday: Jobless claims, Existing home sales
Friday: Oil rig count
Earnings
Click here for the full calendar of economic data and earnings reports.
Reminder, if you would like to be featured in our upcoming Advisor Spotlight and showcase your business, click here to send us an email.
BEFORE YOU GO
Were you forwarded this email? Click here to subscribe.
And be sure to check out our other newsletters:
Ring The Bell: Created for market enthusiasts by market enthusiasts, this twice-daily newsletter delivers top stories, fast movers, and hot trade ideas straight to your inbox. Subscribe here.
Future Finance: Where fintech, crypto, and the future of finance collide. Future Finance is a perfect lunch read packed with quick bites for industry enthusiasts. Subscribe here.
Tech Trends: Get the inside scoop on AI, the hottest gadgets, and mind-blowing tech trends. Subscribe here.
