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AMC’s (AMC) new business model could be seen as – *checks notes* – price gouging and alienating its customers. Does heartbreak still feel good in a place like this?
The movie theater chain’s new ticket strategy will charge different prices depending on where you sit in the theater. In an industry hit hard by both the pandemic and rising popularity of streaming, the last thing the quintessential meme stock needs is a standoff with customers and employees.
US stocks finished higher after a busy day of earnings and Fed Chair Powell’s latest speech
• Federal Reserve Chairman Jerome Powell reiterated the committee’s belief that ongoing rate increases would be appropriate. However, he maintained that the disinflationary process was underway. The dovish statement on the current trend of inflation suggests investor speculation of a lower terminal rate may ultimately be correct.
• The United States trade deficit widened to $67.4 billion in December, compared to the $68.5 billion estimated. For the year of 2022 as a whole, the trade deficit reached a record $948.1 billion, or roughly 3.7% of GDP.
What to be on the lookout for today
• Investors will get a flurry of mortgage-related info, including the average 30-year mortgage rate, total number of mortgage applications, and mortgage refinancing index. 30-year mortgage rates have declined recently, hitting 6.19% for the week ending January 27th.
• Earnings announcements are expected from CVS (CVS), Disney (DIS), and Uber (UBER). Disney’s once former, now rehired CEO Bob Iger will discuss the changes he plans to make to Disney’s theme parks. Meanwhile, CVS execs will likely offer insight into the pharmacy’s potential $10 billion acquisition of Oak Street Health (OSH).
Do you feel stuck in a never-ending debt cycle? There may be a better way.
High-interest debt consolidation into better loan terms is one of the most common uses for a personal loan — and one of the most financially savvy. Credit card debt carries some of the highest interest rates out there. Credit cards also typically have variable rates, making it challenging to create a predictable budget to pay down outstanding debt.
Rates for personal loans, on the other hand, tend to be lower than credit card APRs. This can save borrowers a lot of money in interest over the long term. And the fixed payback schedule of a personal installment loan may help borrowers avoid falling into a vicious cycle of revolving debt that continues indefinitely.
You don’t have to be drowning in credit card debt to benefit from consolidation. For borrowers with a multiplicity of loans, consolidating debt with a personal loan can be a useful financial tactic — if the borrower qualifies for good loan terms.
SoFi’s personal loan calculator is one tool that might be helpful in determining how your interest rate on credit cards vs. a potential loan can affect your monthly payment amount.
Today’s top stories
Can legacy TV survive the popularity of streaming services? The way Americans view content is in the midst of a shake-up. Some insiders see the demise of TV as the natural course. Others say, not so fast. We highlight the areas of contention and consensus – and what it all means for you. Read more >> Try not to lose your credit or debit card – it could take you up to 8 weeks to get a new one. Modern debit and credit cards rely heavily on chips for security. The ongoing chip shortage is making it harder to get replacements. Here’s what this means for your (literal) wallet. Read more >> What’s the average cost of an oil change in 2023? We’ll discuss the ins and outs of oil changes, including how often you should get it done, the benefits to your vehicle and the environment, and how to save money on your next oil change. Read more >>Not-so-breaking news
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Nintendo (NTDOY) cut its sales forecast for the Switch by 1 million units. Management adjusted this forecast after a lackluster holiday season last year.
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BP (BP) posted a net profit of $27.7 billion in 2022, more than double the year before and beating its previous record by $1 billion. The oil giant’s earnings were on par with others in the industry, many of which have also posted records.
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Google (GOOGL) announced a rival to ChatGPT called Bard. Bard is an “experimental conversational AI service” and is currently being tested with a limited group.
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Bed Bath & Beyond (BBBY) looks to raise $1 billion in a preferred stock sale. The move is a last-chance gambit by the home goods retailer to avoid filing Chapter 11.
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Activision Blizzard (ATVI) beat analyst expectations for Q4 2022 earnings, driven by strong sales of the latest Call of Duty release. The video game developer’s acquisition by Microsoft (MSFT) has been held up by regulators.
Financial planner tip of the day
"People who are reluctant to invest all at once might consider dollar cost averaging. This means making regular contributions over an established period of time, which can help lower the cost basis of your investments over the long term."
Brian Walsh, CFP® at SoFi