Monday,
November 14, 2022
Market recap
Dow Jones
33,747.86
+32.49 (+0.10%)
S&P 500
3,992.93
+36.56 (+0.92%)
Nasdaq
11,323.33
+209.18 (+1.88%)
Top Story
Stocks Rise as October CPI and China’s Easing of COVID Restrictions Boost Sentiment
• US stocks rose Friday as investors reacted to last week’s cooler-than-expected October inflation report. Zooming out, Wall Street is hopeful the Federal Reserve could look to slow its rake-hike campaign at next week’s meeting. Inflation coming in below analyst expectations could make that adjustment more likely.
• The University of Michigan released its preliminary consumer sentiment and 5-year inflation expectations reports for November. Inflation expectations ticked up, while consumer sentiment fell.
• Wall Street received a boost from overseas as Chinese officials announced they will ease COVID-19 restrictions. Mass testing will be curtailed and travelers entering China will be required to spend less time in quarantine. The Asian nation’s zero-COVID policy has weighed on the global economy as a whole.
• The US bond market was closed for Veterans Day. On Thursday, the benchmark US 10-Year Treasury and US 2-Year Treasury saw their yield fall significantly.
What to Be on the Lookout for Today
• The New York Fed will publish its 1-, 3-, and 5-year inflation expectations for October. This metric is important because the Fed pays close attention to how prices are rising, as well as what consumer’s perceive to be going on with regard to inflation. In September 1-year inflation expectations fell, but 3-year and 5-year expectations increased.
• Tyson Foods (TSN), the world’s second-largest meat producer, will publish its most recent quarterly earnings. Executives will likely discuss the fact that food inflation eased in October. Also, Tyson’s CFO John Tyson was recently arrested for allegedly falling asleep in the wrong home while intoxicated.
Bringing Your Furry Friend Along On Your Travels Doesn’t Have To Be Outrageously Expensive.
Traveling can already be costly, but add a pet and your prices could be even more anxiety-inducing. But sometimes traveling with a pet is unavoidable, be it because you’re planning on being gone for a while or you simply want to bring your best friend with you.
Fortunately, if you’re looking for the cheapest way to travel with a dog or another pet, we have some tips to help. Beyond making sure you have all the budgeting tips you need to create a travel fund, here are 25 more pet-specific ways to save on travel.
Today’s Top Stories
Are we really entering a recession? With Walmart (WMT), Target (TGT), and the Home Depot (HD) set to report their Q3 earnings, investors will be looking into consumer confidence and spending habits for insight. On top of key data from US retail giants, the third-quarter real household debt report will update the market as to how much more money Americans are borrowing, year-over-year. Read more >> After a Federal Judge struck down President Biden’s student loan forgiveness program, what comes next? To date, 26 million have already applied for forgiveness. That’s a lot of people in limbo. We’ve got a full account of what’s been happening in recent weeks, as well as what to expect in the coming days. As the White House appeals this most recent decision, borrowers will have to practice patience. Read more >> Hollywood’s got a new secret weapon in its battle against streaming services: the horror genre. Over the past year, moviegoers have flocked to films like Smile, Barbarian, and The Black Phone – causing movie makers to take notice as well. In general, it’s just more fun to watch horror movies on a 60-foot screen instead of your laptop. But there’s one other big, green reason why Hollywood loves horror – and, spoiler alert, it’s not slime. Read more >> The consumer price index (CPI) rose less than expected in October, which could be an early indicator that inflation is cooling down. The CPI is a measurement of how much consumers are spending on goods and services. Understanding these monthly reports can provide insight on where the economy might be heading. Read more >>Not-So-Breaking News
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As crypto exchange FTX files for bankruptcy, Sam Bankman-Fried will step down as CEO. FTX reportedly has over 100,000 creditors, with estimates of total liabilities ranging up to $50 billion.
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Ralph Lauren (RL) beat analyst expectations for the third quarter. Despite declining margins, the luxury apparel brand reported better-than-expected revenue and profit.
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Beyond Meat (BYND) posted a larger-than-expected loss during its most recent quarter. CEO Ethan Brown maintains price-conscious consumers are skipping the meat analogue company’s products in exchange for cheaper protein alternatives.
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Eight major Japanese companies, including Toyota (TM) and Sony (SONY), are teaming up to form an advanced chip maker called Rapidus. This new entity aims to be creating semiconductors by 2027.
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United Airlines (UAL) has agreed to offer its pilots a 5% bump in pay. This decision is months ahead of schedule, in the wake of near-unanimous rejection by the airline’s pilot union regarding United’s latest contract agreement offer.
Financial Planner Tip of the Day
“If you have student loans, they may or may not be at a low rate, and regardless, they may or may not feel manageable. It can be a good idea to investigate how much money you can save when you refinance your student loans into one convenient, low interest loan.”
Brian Walsh, CFP® at SoFi