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Dow Loses Nearly 800 Points, Market Downturn Continues Amid Ukraine-Russia Conflict
• US stocks fell Monday following four straight weeks of declines. Investors are continuing to weigh how the Russian-Ukrainian conflict will affect markets, particularly for energy. The White House has indicated it could eventually ban imports of Russian oil and natural gas. Broadly speaking, analysts say the US economy faces a slowdown as a result of
• The Federal Reserve says consumer credit rose by $6.8 billion in January. The number came in well below estimates that had been up near $24 billion. The figure includes things like credit cards and other personal loans used to purchase goods and services.
What to Be on the Lookout for Today
• The National Federation of Independent Business releases its small-business index for February. This is a general snapshot of how things are going within the small-business sector, which accounts for around 50% of all private jobs in the US. The NFIB small-business index looks at 10 seasonally adjusted factors. It decreased slightly in January by 1.8 points to 97.1, with many small businesses continuing to face struggles dealing with inflation. January’s foreign trade deficit and the revised number for January’s wholesale inventories will also be published.
• Dick’s Sporting Goods (DKS) will post its most recent quarterly results. The retailer’s previous four earnings reports have beat analyst estimates on the top and bottom lines. Dick’s is trying to keep pace with the onset of online shopping, and from August to October 2021 reported ecommerce sales represented around 19% of sales. That represents a 13% increase from 2019.
So Your House Needs Work. Before You Move On — And Out — Consider These Updates First.
Whether you’re just a few tweaks away from your dream home, or you’ve got an investment property you’re looking to flip, which renovations will create the greatest return on investment? Here’s a rundown of time and costs involved in the most popular home improvement projects.
A Few Headlines That Should Be on Your Radar
Movie theaters are making a comeback — this weekend’s $128.5 million box office for The Batman in North America is the latest sign. Plus, a new pricing strategy for blockbuster films. While Spider-Man: No Way Home got the party started in 2021, Warner Bros.’ latest action flick represents this year’s first breakout, and analysts are calling it a turning point for the industry. Also, some movie theaters are charging more for tickets to blockbusters in a dynamic-pricing strategy that could be here to stay. Read more >> Airlines were already struggling to gain traction post-pandemic, and now oil prices are spiking across the globe — going over $100 a barrel for the first time in a decade. The industry is facing hard times amid Russia’s invasion of Ukraine, and it threatens this summer’s comeback plans. When it comes to the expenses airlines face, oil is second only to labor costs. With oil prices soaring and the airline industry facing lingering challenges, the pent-up demand associated with travel could be at risk. Plus, airlines have little wiggle room to raise prices. Read more >> While activist investors are pressuring Kohl’s (KSS) to sell, the retailer announced its long-term growth plans, which include a focus on expanding its standing as a makeup and activewear destination. Kohl’s has faced criticism concerning its performance throughout the pandemic amid claims other off-mall retailers have done better during the same timeframe. The company is expanding its Sephora (LVMUY) in-shop-shops and opening a series of smaller stores in a bid to reach more customers. Increasing sales of active clothing like leggings, sneakers, and shorts are also a priority. Read more >> Most everyone has heard of the gender pay gap, but many don’t pay a lot of attention to the gender investment gap, and why the long game matters for women. Women may be behind in the investing game, but trends show that they’re outpacing the market overall. There are important reasons for women to seek a long-term investment strategy. Read more >>Not-So-Breaking News
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Uber (UBER) raised its first-quarter expectations for earnings before interest, taxes, depreciation, and amortization. Executives say the ride-hailing app has rebounded faster than expected from challenges associated with the Omicron variant, with demand up “significantly” last month.
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Billionaire investor Ryan Cohen says he now owns almost 10% of Bed Bath & Beyond, and he’s pushing for changes. He wants the housewares retailer to consider selling the company in full and contends the firm’s strategy has been “overly ambitious.” Cohen is chairman of the board of video game retailer GameStop (GME) and co-founded Chewy (CHWY).
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Intel (INTC) announced that its self-driving unit Mobileye has applied for an IPO of its common stock. In 2017, the semiconductor maker purchased Mobileye for $15.3 billion in cash. The anticipated price range and number of shares to be offered aren’t yet clear.
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Squarespace’s (SQSP) latest earnings report beat analyst expectations for revenue but also provided downbeat sales guidance. Back in May 2021, the ecommerce software and digital publishing platform went public. Sales forecasts came in lower than expected for both Q1 2022 and this year as a whole.
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Levi Strauss (LEVI) has suspended sales in Russia following the country’s invasion of Ukraine. This comes decades after the company’s blue jeans became a symbol of freedom and the West during the Soviet Union era. Levi Strauss says it's also donating $300,000 to nonprofits helping refugees.
Financial Planner Tip of the Day
“When budgeting for a remodel, it can be helpful to have a dedicated fund for renovation expenses. This can help you streamline your savings approach and portion of the appropriate amount of money so you’re prepared.”
Brian Walsh, CFP® at SoFi