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Financial discussions can be as stressful as they are necessary for couples. Enter “money dates.”
• A possible consensus among Fed officials might mean there won’t be another interest rate increase at the next FOMC meeting on September 20, according to a report. As more data continues to show softening of both inflation and the labor market, some Fed members seem to believe current interest rates could be restrictive enough.
• Consumer inflation expectations for the year ahead increased to 3.6% in August, the first increase in five months, according to the New York Fed. This is at odds with the broadly decelerating pace of inflation seen in economic data. According to the New York Fed, year-ahead price growth expectations rose for gas, food, medical care, college education, and rent.
• Boeing (BA) announced it will sell 50 737 Max jets to Vietnam Airlines for $7.8 billion. The deal was signed during President Joe Biden's visit to Hanoi.
• The NFIB Small Business Optimism Index for August will be released. In July, this measure of economic confidence rose for the third straight month.
• Carbon chemistry company NanoXplore (GRA) will report its latest quarterly earnings. The company’s management may offer more specifics on its recent deal to supply a well-known commercial vehicle OEM with lithium-ion battery cells.
Liz Young, SoFi’s Head of Investment Strategy, is kicking off a brand new season of The Important Part podcast with a series centered around the retail investor.
In this month’s episode, Liz sits down with Gunjan Banerji from the Wall Street Journal to talk about the evolution of retail investing, investor trends, and the impact of social media. Plus, Liz offers her quick take on meme stock investing and where you can start to do your research on investments.
Listen and subscribe on Apple, Spotify, or wherever you get your podcasts.
Not-so-breaking news
JM Smucker (SJM) announced a $5.6 billion acquisition of Twinkie parent company Hostess Brands (TWNK). In addition to the iconic Twinkie, the consumer foods giant will also add Ding Dongs, Ho Hos, CupCakes, and Snoballs to its portfolio.
Tesla (TSLA) stock jumps 10% after Morgan Stanley upgrades its price target, boosted by high hopes for Dojo, the company’s new AI supercomputer.
Sports fans may pay up to $200 a month to stream all of their favorite sports. This is a dramatic increase from the $83 sports bundle previously offered by cable companies.
Apple (AAPL) is set to announce the iPhone 15 today. During this widely-watched event, the tech company will share new releases within its portfolio of products.
Oil futures hit new highs off bets the global oil supply will tighten. Saudi Arabia and Russia both recently announced production cuts.
Financial planner tip of the day
“As you work toward paying your credit card debt, consider making more than the monthly minimum payments. This can help you pay off your debt faster and in doing so, could help you reduce the amount of money you spend in interest over the life of the debt. This can be helpful in both the avalanche and snowball methods of debt repayment.”
Brian Walsh, CFP® at SoFi