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Netflix’s (NFLX) first earnings announcement without its founder is coming up — right as the streamer’s market share dropped behind a major competitor.
This week will also be loaded with bank earnings, housing data, and much more. Here’s what’s coming up this week on Wall Street.
US stocks finished lower Friday after fresh economic data and earnings from some of Wall Street’s titans
• JPMorgan (JPM) posted record revenue of $39.34 billion and adjusted earnings of $4.32 per share, well above the $3.41 estimate. The positive numbers were largely driven by a 49% increase in net interest income thanks to the decade-high rates the Fed is paying on bank reserves.
• Month-over-month retail sales in the US declined by 1% in March, far below expectations of a 0.4% decline. Following a downwardly revised 0.2% decline in February, the latest numbers point to inflation and rising interest rates weighing on consumer spending.
• Boeing (BA) saw its shares sink after warning of reduced 737 Max production and deliveries due to a parts issue with a supplier. The company said the issue affects some of its most popular models held by customers including American Airlines (AAL) and Southwest Airlines (LUV). However, Boeing underscored the problem is not an immediate flight safety issue and the in-service fleet can continue operating.
What to be on the lookout for today
• The New York manufacturing index and the NAHB housing market index. As a trusted barometer of the single-family housing market, the NAHB index will clue us into what homebuilders are thinking about sales and prospective buyers over the next six months.
• We will kick off the earnings week with another round of financials, including Charles Schwab (SCHW) and State Street Corporation (STT). After losing more than a third of its value amid the regional banking crisis, Schwab investors will be looking to confirm the severity of its unrealized bond losses and overall financial standing.
When someone dies, their debts don’t always do the same.
Not all debt disappears when someone dies. Borrowers may want to use life insurance as a way to protect their loved ones from having to deal with their loans or credit card debt.
Whether or not the departed was the primary earner in the family, their death could still create financial hardship for their family in the wake of an already difficult loss.
Even unpaid debts that loved ones are not directly responsible for might affect them financially. For instance, debt payments could be deducted from the deceased’s estate, which would reduce the inheritance left to family members and other beneficiaries.
If life insurance feels like a good fit for your financial plan, check out what Ladder has to offer. As your life changes, you can always increase or decrease your coverage to suit your needs.
Recommended reading: What does life insurance cover?
Today’s top stories
Almost one-third of married women earn as much as their husbands. Here’s one reason why more equal earnings might be for the best. Read more >> Move over hot dogs and pizza — Americans have a new favorite food. An analysis of 4,500 new items at major restaurants show that America has a new favorite cuisine. When you think about it, the answer isn’t all too surprising. Read more >> Now’s the time to start solidifying your summer travel plans. June is right around the corner, and booking your travel plans at just the right time could help you spend less and save more. Read more >>Not-so-breaking news
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Delta’s (DAL) CEO Ed Bastian predicts another record summer for air travel this year. During its earnings report, the airline projected record advance bookings for the summer.
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Rivian Automotive (RIVN) announced an ambitious set of goals. The young EV truck company expects to earn a gross profit in 2024 and mass produce cars by 2026.
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JPMorgan Chase (JPM) reported a record profit of $12.6 billion in the first quarter. The nation’s largest bank also reassured investors that the US economy is on a “generally healthy footing”.
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NPR and PBS have deleted their Twitter accounts after being labeled “state-affiliated media”. The two news organizations are the latest news companies to clash with the social media company, joining the New York Times (NYT) and BBC.
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Hollywood writers may enter their first strike in 15 years if a new deal isn’t reached with studios. The union mainly wants to overhaul its pay structure, which it feels is outdated due to the rise of streaming.
Financial planner tip of the day
“Life insurance isn’t necessarily a must-have for everyone. But if you have dependents or debt — or think you might someday — you may want to take a closer look at whether life insurance could be a financial tool to help protect your loved ones and your legacy.”
Brian Walsh, CFP® at SoFi