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As Netflix’s dominance fades, and competition heats up, streamers bundle services to increase market share.
In the past two years, Netflix (NFLX) has seen its market share dip 13%. This may be bad news for the streaming pioneer, but good news for some streaming subscribers.
US stocks finished higher Thursday despite cautionary employment numbers and continued pressure from upward-trending bond yields.
• The initial jobless claims report showed the number of Americans filing for unemployment benefits fell to 190,000, a decline of 2,000 from the previous week. The latest figure was below market expectations of 195,000 and close to the nine-month low. This is further evidence of a tight labor market which could exacerbate inflationary pressures throughout the economy.
• Macy’s (M) surprised the Street with a larger profit than anticipated of $1.71 per share compared to the $1.57 estimate. However, the retailer offered a muted outlook for 2023, with expectations of between a 1% and 3% decline in net sales, as it faces a choppy and uncertain fiscal year ahead.
• Tesla (TSLA) shares took a dive after a seemingly uninspiring Investor Day. The event provided a long-term vision for the company, including 20 million vehicles by 2030 and a “master plan” that would enable Tesla owners to make money on their idle cars. However, it did not announce any new products or services.
What to be on the lookout for today
• A flurry of non-manufacturing reports will be released, including the PMI, new orders, employment, and business activity. Information on vehicle sales will also be published. In January, new vehicle sales rose by 4.2%, marking the fifth straight month of increasing sales.
Purchasing a home involves some investigative work. Here’s 5 things to watch out for before you buy.
If you’re shopping for a home, you probably have a wishlist guiding you. In addition to those dream-house items, it’s important to examine the more essential, nuts-and-bolts aspects of a home as you tour. Keeping your eye out for potential red flags can save you from falling in love with the wrong house. Here’s 5 things to consider in order to avoid financial pitfalls.
1. Roof: Roof damage can quickly turn homeownership dreams into a pricey nightmare. Examine ceilings for signs of water damage. A home inspection can provide a closer look at the roof to identify cracked or missing shingles. You might also invest in a professional roof evaluation to determine how many years the roof has before it needs to be replaced.
2. Bathroom: Consider the condition and potential renovation costs. Moving plumbing lines around a structure can be time-consuming and expensive. Some updates may require permits, and increasing the number of baths can raise your property taxes.
3. Kitchen: Like bathrooms, kitchens can be another big ticket item when it comes to making updates. To keep kitchen remodeling costs down, evaluate if the bones of the kitchen are solid to start.
4. Smells: If you notice a lot of air fresheners, plug-ins, and potpourri during your home tour, consider the fact that they could potentially be masking odors caused by mold, water damage, or plumbing issues.
5. Water views: Check the home’s flood factor. Rushing water in your home can destroy possessions, damage structural elements, and ultimately cost a fortune in repairs. Ask a broker to help you get information dating back a couple of decades on whether the home has flooded in the past.
Whether you’re a first-time homebuyer or a home-buying pro, you’ll want to be careful and comprehensive when buying a house. Before you begin your next home search, check out our home affordability calculator. Just input five quick numbers to find out how much house you could really afford.
Today’s top stories
These days, internet access is practically an essential service. But, for millions of Americans, it could soon become much less affordable. Subsidized broadband, which has been provided since the pandemic, could be in jeopardy due to a lack of funding. But it’s not the only way to save on wifi. Read more >> First, it was “The Great Resignation.” Then, came “Quiet Quitting.” And now… loud bonus-giving? Employee recognition startup Bonusly just received $19 million to grow its platform. Its main selling point is real-time workplace rewards to help coworkers and companies recognize standout employees. Read more >> Everything is topsy-turvy after a blowout jobs report. SoFi’s Head of Investment Strategy has the scoop on how things played out in February. Read more >>Not-so-breaking news
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During its Investor Day, Tesla (TSLA) announced a plan for a new, more efficient manufacturing platform. The company says the platform could cut manufacturing costs by as much as 50%.
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SpaceX launched four more astronauts to the International Space Station for NASA. This marked the ninth human spaceflight to date for Elon Musk’s space company.
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Ford’s (F) February sales jumped by more than 20% from last year and 7.7% from January. In particular, the legacy automaker sold 1,336 units of its closely-watched electric F-150 Lightning.
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Billionaire Mark Cuban shared that he used to save money on groceries by visiting the store right before it closed. This allowed him to take advantage of last-minute deals on expiring produce.
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Delta (DAL) is teaming up with T-Mobile (TMUS) to offer free in-flight wifi to Delta SkyMiles members. This perk will apply to 80% of domestic flights and will not require travelers to be a T-Mobile customer to take advantage.
Financial planner tip of the day
“Combat the urge to impulse spend by trying to institute a holding period on all purchases. Before hitting the buy button, wait 24-48 hours. After the holding period, come back to the shopping cart and reevaluate if you really need it. In some cases, you might not even remember why you wanted it in the first place.”
Brian Walsh, CFP® at SoFi