Top Story
Turbulence ahead: the airline industry just turned on the proverbial seat belt sign.
It’s never a good sign when those in charge of making sure that things run smoothly are the ones warning you things might not run smoothly. Here’s why airlines, aviation officials, and the TSA see stormy skies ahead.
US stocks finished lower Thursday as earnings results sparked concerns over corporate profitability in the coming months.
• Tesla (TSLA) reported net income and earnings more than 20% lower than the year prior. The company still surpassed earnings expectations with $1.05 per share, but fell slightly short on revenue with $21.45 billion. In the earnings call, CEO Elon Musk emphasized that demand is strong and the company expects to sell every car it makes for the foreseeable future, adding that a $5-10 billion buyback was potentially on the horizon.
• The number of Americans filing for first-time unemployment benefits increased by 5,000 to 245,000 in the week ending April 15th. The numbers were in line with expectations, but still point to a softening labor market as interest rates and the slowing economy act as tailwinds for job losses.
• SpaceX launched its experimental Starship rocket for the first time, but it suffered a mid-flight failure before reaching space, causing it to explode. No crewmembers were on board. The rocket is the largest and most powerful ever built and critical to NASA’s plan to return astronauts to the moon.
What to be on the lookout for today
• We’ll close out the week with the release of the S&P Global PMIs. Notably, the manufacturing PMI will offer insight into the current state of the manufacturing sector.
• Procter & Gamble (PG) will give an update on its business. As the owner of dozens of household brands, P&G’s report can give insight into consumer spending habits and further signs of inflation’s abatement.
What are the financial benefits of going green?
At first, a sustainable lifestyle sounds as if it may benefit the environment more than it does the individual. But there are financial benefits that come with going green, including:
Tax benefits. Purchasing everything from eco-friendly appliances to electric cars can come with tax credits or federal rebates.
Less consumerism. Since green living encourages reusing, people may be less likely to purchase new items.
Lower bills. Simple things like turning up the thermostat a few degrees in the summer can lead to direct savings on utility bills.
Reduced transportation costs. Biking, walking, or using public transportation can be considerably cheaper than driving a car or requesting a ride-share.
Learning how to be eco-friendly on a budget can be easier than it sounds. Here’s 19 ways to save money while living sustainably. These creative ideas may help you save money while giving back to our planet.
Today’s top stories
Biden is taking on childcare costs as parents spend as much as 26% of their paycheck on childcare. A new executive order aims to tackle growing and overwhelming childcare costs, but will it be enough to provide relief for families with working parents? Read more >> Need to run errands but don’t want to leave your pup alone? Companion’s new AI-powered robot can help you out. Companion just raised $14 million to continue developing its robotic dog-sitter. Here’s how it works. Read more >> How many credit cards are too many? One, two, ten? We explore some common stats, tips, and ways to keep on top of credit card debt. Read more >>Not-so-breaking news
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Snapchat (SNAP) officially rolled out its in-app AI chatbot. This bot is built off ChatGPT’s technology and will be able to help users answer questions or complete small tasks.
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Ikea is investing $2.2 billion to improve its omnichannel capabilities at US stores. This includes new stores, pickup locations, sustainability efforts, and more.
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Amazon (AMZN) launched its Anti-Counterfeiting Exchange to track and label fake products. This is part of the ecommerce company’s initiative to crackdown on organized crime on its platform.
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Volkswagen (VWAPY) became the first non-US company to qualify for the Biden Admin’s new EV tax credit. The rest of the qualifying models came from US brands, including Ford (F), Tesla (TSLA), and General Motors (GM).
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Meta Platforms (META) initiated another round of layoffs, this time focusing on engineers and tech workers. This is part of CEO Mark Zuckerberg’s initiative to make 2023 the “Year of Efficiency.”
Financial planner tip of the day
“Where you put your 20% savings can help you reach your goals. High-yield savings accounts, money market funds, certificates of deposit, and cash management accounts are all vehicles that may pay more interest than a traditional savings account, helping your savings grow.”
Brian Walsh, CFP® at SoFi