Top Story
For OJ drinkers, the juice may no longer be worth the squeeze.
Florida is on track to produce the smallest amount of oranges since the 1930s, which could lead to higher OJ prices. Orange you curious what’s causing the shortage? Read on to find out.
US stocks were mixed Friday after a hotter-than-expected inflation report.
• The producer price index, which measures inflation at the wholesale level, increased to 0.30% in July from a 0%, flat reading in June. This was above market forecasts of 0.2% and the biggest increase since January.
• US mortgage delinquency rates fell to 3.37% at the end of the second quarter, the lowest level since the Mortgage Bankers Association began collecting data in 1979. Despite the aggressive rise in interest rates, the job market remains strong and many homeowners are still paying interest rates well below current levels due to the abundance of 30-year fixed-rate mortgages.
• The Department of Energy is investing $1.2 billion to support the development of large-scale carbon removal vacuums to combat global warming. The initial funding will create two carbon removal hubs in Louisiana and Texas, run by carbon capture startup Climeworks and oil company Occidental (OXY).
What to be on the lookout for today
• Appropriately, Monday.com (MNDY) will kick off the earnings week. Investors will be eager to see if the project management software company can build off its strong previous quarter, in which it reported revenue of $162.26 million, up nearly 50% annually.
Looking for some new investment options?
Investing in stocks is fairly straightforward: You buy shares, hoping they’ll go up in value, at which point you might choose to sell them. But there are other ways to put money behind the movements of a stock price.
Investors can also buy and sell options, which are contracts that allow the investor to potentially profit when a stock moves up or down.
Curious about options trading? Options can be risky, but they also offer new opportunities for experienced investors.
Here’s an in depth guide for beginners on how to trade options.
Today’s top stories
The average American is carrying $6,000 in credit card debt. If you’re feeling the pinch of high interest rates, there are a few strategies that could help. Read more >> Walmart (WMT) is taking its battle with Amazon (AMZN) to a new arena: advertising. Will the move pay off for the world’s largest retailer? The company’s upcoming earning call could shed light. Read more >> There are several factors to take into account when deciding whether to lease or buy a car. We’ll break down what you should consider. Plus, get tips on how to save for your next set of wheels. Read more >>Not-so-breaking news
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Job searches for “UPS driver” (UPS) are up 50% on the job posting site Indeed. This surge in interest comes after the delivery company reached a deal with drivers promising higher wages.
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Disney+ (DIS) is going to start cracking down on password sharing. The streamer is following Netflix’s (NFLX) footsteps, who previously had success with the strategy.
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Archer Aviation (ACHR) reached a settlement with Boeing’s (BA) Wisk division. The two air taxi companies will now start collaborating on autonomous flight technology.
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Cruise (GM) and Waymo (GOOGL) received key approval from California regulators. The two driverless taxi companies can now start offering paid rides in San Francisco.
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X — the company formerly known as Twitter — is close to breaking even, according to new CEO Linda Yaccarino. This comes after the social media site experienced a 50% drop in revenue.
Financial planner tip of the day
“Investing isn’t just for the wealthy; it’s for anyone who wants to achieve financial goals. There are low-cost, simple, and effective investing options that are accessible to investors of all sizes.”
Brian Walsh, CFP® at SoFi