🐭 What Is Disney Planning for Hulu?

Friday,
July 8, 2022

Market recap

Dow Jones

31,384.55

+346.87 (+1.1%)

S&P 500

3,902.62

+57.54 (+1.5%)

Nasdaq

11,621.35

+259.49 (+2.3%)

Disney

$97.43

+$1.35 (1.4%)

Comcast

$39.94

+0.11 (+0.3%)

Gamestop

$135.12

+$17.69 (+15.1%)

Top Story

S&P 500 Gains For Fourth-Straight Day, Oil Prices Rise, Jobless Claims Up, Trade Deficit Down

• US stocks rose Thursday, with the market building upon a modest winning streak, as the second half of the year gets underway. For the S&P 500, it marked the fourth-straight positive session, matching its best streak of 2022.

• Oil prices moved higher, as both international benchmark Brent crude and US standard West Texas Intermediate saw their price per barrel rise. Prices were lower throughout the earlier part of the week, tied to fears over a potential recession. The energy sector has been choppy in recent months, similar to what’s been observed in the stock market.

• The US Labor Department reported jobless claims increased last week, hitting their highest level since January. Elsewhere in the labor market, June’s Challenger Job-Cuts report showed planned layoffs soared 57% month-over-month.

• May’s foreign trade deficit declined to $85.5 billion from $86.7 billion in April. While that is the lowest mark of 2022, it did exceed Wall Street estimates. Some analysts attribute this to COVID-19 lockdowns in China, which reduced the country’s production and the resulting import of goods.

What to Be on the Lookout for Today

• June’s nonfarm payrolls and unemployment rate will be published by the Bureau of Labor Statistics. Average hourly earnings and labor participation rate are also set for release.

• Nonfarm payrolls increased by 390,000 in May which came in above the 328,000 Dow Jones estimate. The unemployment rate hovered at 3.6% and investors will be curious to see the trend last month.

• The Federal Reserve will release its consumer credit report for May. In April, the number hit a record high as more Americans put purchases on credit cards amid rising prices.

No-Fee Crypto Purchases Now Available With Direct Deposit

SoFi members will now be able to invest part of every direct deposit directly in crypto and skip the purchase fees. Here’s what you need to do to get started:

• Get SoFi Checking and Savings and set up direct deposit. You can learn more and open a new account here.

• Open a SoFi Invest® crypto account. You can learn more about SoFi Invest and crypto here.

Once you have both accounts, you can set up no-fee crypto purchases either on the web or in the SoFi app. If you’re using the app, make sure you’re using the latest version.

Back in 2019, when Disney (DIS) acquired a majority stake in Hulu, Disney+ was just getting started. Now it’s the company’s flagship streaming service, arguably leaving Hulu as a somewhat awkward piece.
What’s more, Disney is on the hook for at least $27.5 billion in 2024. That’s when Comcast (CMCSA) can force it to buy out its remaining 33% stake in Hulu. What lies ahead for the 15-year-old streaming service?
Read more >>

Gamestop’s (GME) stock split is scheduled for later this month. What is the thinking behind stock dividends of this nature?
Essentially, companies cut the pie into smaller pieces through stock splits, while the firm’s total valuation remains unchanged. Another stock split scheduled for this month, Google parent Alphabet (GOOGL), is notable for its stock-split ratio. So why are stock dividends so popular lately, especially in tech?
Read more >>

Despite the volatility in the venture capital space, deals are still getting done. In fact, another Seattle-based company became a unicorn this week.
Flexe, a nine-year-old company, just crossed the $1 billion mark after raising $119 million in a Series D round. Here’s why the company is seeing so much demand.
Read more >>

With its ups and downs, investing is a lot like riding a roller coaster, and knowing your own risk tolerance is an important part of investing.
Risk tolerance is the amount of risk an investor is willing to take to achieve their financial goals. Risk tolerance level comprises three different factors: risk capacity, need, and emotional risk.
Read more >>

Not-So-Breaking News

Virgin Galactic (SPCE) announced a deal with Aurora Flight Sciences, a Boeing (BA) subsidiary, to build two additional carrier aircraft. No financial terms were provided, but the first of the two aircraft is expected to be up and running in 2025.
Merck (MRK) is in advanced talks to buy cancer-focused biotech company Seagen (SGEN) for $40-billion. Last year, Seagen generated $1 billion in revenue thanks to four approved drugs including breast cancer therapy, Tukysa.
Helen of Troy (HELE) stock stumbled Thursday after cutting its full year outlook. The consumer products company that includes brands like Hydro Flask, Vicks, and Braun cited a shift in consumer spending habits due to inflation.
Shell (SHEL) is planning to build Europe’s ‘largest’ renewable hydrogen plant. The Netherlands based plant will generate as much as 60,000 kilograms of renewable hydrogen every day and be operational in 2025.
The euro fell below $1.02 this week, almost reaching parity with the US dollar. This new 20-year low is partly a result of recession fears and uncertainty around energy supply to the continent.

Financial Planner Tip of the Day

"Deciding how to invest money in your 20s can seem overwhelming at first; there are a lot of people with differing opinions and it’s hard to know where to start. But remember that you don’t need to be bringing in the big bucks to be a savvy investor."

Brian Walsh, CFP® at SoFi

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SoFi will assess a fee for each crypto transaction outside of automatic direct deposit purchases. For more information, visit SoFi.com/crypto

You need both a SoFi Invest crypto account and a SoFi Invest active investing account to get access to no-fee crypto purchases with direct deposit. Active investing and brokerage services are provided by SoFi Securities LLC, Member FINRA/SIPC. Cryptocurrency is offered by SoFi Digital Assets, LLC, a FinCEN registered Money Service Business.

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