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Tips for getting started in the stock market
Understanding the market is tough but it’s easy to get started investing with a few easy tips.
MINNEAPOLIS — Understanding the stock market is tough. All the moving parts, different marketplaces, the highs and the lows… it’s a lot.
The stock market has been in the news lately for record gains in the market. In the week of Feb. 9, the S&P 500 rose 0.6% and finished a day above the 5,000 level for the first time. The Nasdaq composite also jumped 1.2% to pull within 0.4% for an all-time high, which was set in 2021. The Dow Jones Industrial Average was a laggard a day after setting its own latest record. It slipped 54 points, or 0.1%.
Optimism on Wall Street is high as well and it could be a great time to dive into the market. Luckily, by keeping just a few tips in mind, you too can get into investing.
Here are the basics when it comes to picking the right stock for your portfolio:
1. Find a publicly traded company
There are thousands of companies to choose from. You can find a list and more information on the U.S. Securities and Exchange Commission (SEC) website.
2. Figure out how this company makes money
What does the company make or sell? By buying stock you’re becoming a part-owner, so you want to ensure that you know what kind of products and services your money supports.
3. Take a look at its annual report
Every publically traded company with its shares listed on a stock exchange is required to file regular financial statements and disclosures with regulators like the SEC. This report will have more information about financials, balance sheets, cash flows and income statements. The company will have this information available online; look for the “Investor Relations” section of the site.
4. Research the company outlook, plans for the future
You can find good information about a company in its annual report, but to go one step further check out trade magazines and online resources. Try to find information about the company’s strengths and weaknesses, the quality of its management and its projections for growth.
5. Decide if you want to be an owner of this company
Once you’ve found a stock that resonates with you, it’s time to head to open a brokerage account and buy your stock. There are several options for different styles of traders. Some online brokers also offer educational resources. This resource from NerdWallet recommends these 11 brokers, including Fidelity, Webull and J.P Morgan.
Get the latest money-saving tips from Your Money here:
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The road closure is expected to last until about 11:30 p.m. tonight, according to MnDOT.
MINNETONKA, Minn. — Officials have closed the westbound lanes of US Highway 12 starting at I-494 in Minnetonka after a collision occurred on Saturday night.
According to the Minnesota Department of Transportation’s 511 Map, the road is closed and there was a “serious crash,” on the highway.
The road closure is expected to last until about 11:30 p.m. tonight, according to MnDOT.
This is a developing story and will be updated as more information becomes available.
“It’s amazing how well and good the people are helping out,” volunteer Connie Guinn said.
ELK PARK, N.C. — It’s still difficult for Mike Ellenburg to see the damage Helene left in Elk Park, North Carolina.
“Never in my lifetime, no I have not,” Ellenburg, Fire Chief at the Elk Park Volunteer Fire Department, said. “We had to bring in heavy equipment and open the road up.”
The storm left homes destroyed, trees toppled and cars flipped. It’s left roads near rivers and creeks nearby unrecognizable.
“Used to be a paved road, houses on both sides,” he said. “They’re gone.”
“You’ll see some vehicles down here that are sideways, and they’ll have spray paint on ’em,” Ellenburg continued. “Marking that that vehicle has been checked and that nobody was inside of it or around it.”
Ellenburg says he believes there are four areas around Elk Park in a similar state, damaged and difficult to get into. Despite that, help is still coming, both from the town and the rest of the state.
“We’re just trying to get it organized,” Connie Guinn, a volunteer said, standing in front of pallets of food and water. “Because we can’t find nothing, and neither can anybody else.”
Donations have continued to arrive at the Elk Park Volunteer Fire Department. Ellenburg says some have even come from around the country.
Other agencies, like the Dallas, North Carolina volunteer fire department, have also arrived to help where they can.
“It’s amazing how well and good the people are helping out,” Guinn said.
Ellenburg says it will take time to rebuild their community, but it’s made easier to get through with neighbors like theirs.
“I would only say that I don’t want to live anywhere else but here in Avery County, North Carolina,” he said.
The marathon was canceled because of the heat last year.
SAINT PAUL, Minn. — Thousands gathered at the Capitol to join in on the Medtronic Twin Cities Marathon Weekend festivities.
Among them were Noah and Madeline Bleeker, running with their parents at the KARE 11 Family Mile. Noah in particular was rather excited.
“I’m super fast,” he said.
His sister, not so much.
“I just don’t like the part when you get really sweaty,” said Madeline. “I just don’t like that part.”
Either way, they are certainly happy for the weather this year.
Craig Fiedler signed up for his first marathon last year. He flipped through photos on his phone capturing the chaotic day.
“Here I am in the morning with a cup of coffee ready to go,” he smiled. “Then at 5:30 in the morning, I got the email it had been canceled.”
He decided to run it anyway, but he’s excited to cross the finish line this year officially.
“It will be a victory lap,” he said.
Dean Orton is the president of Twin Cities in Motion, the organization behind the marathon. He’s predicting great running conditions.
“It’s great to see it all come together,” he said.
The marathon begins at 8 p.m. tomorrow.
