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Remember cable bundles? They’re coming to streaming
Many streaming services are exploring a joint bundle of their services at a discounted rate in an attempt to keep subscribers hooked.
US stocks were mixed on Tuesday after markets closed out their best month of the year last week
• Shares of the code-developing platform GitLab surged 11.4% after beating expectations and posting its first-ever adjusted operating profit. The company also reported a 32% increase in revenue and raised its fourth-quarter guidance.
• Nokia shares fell 5.9% to a three-year low after losing a major contract with AT&T to rival telecommunications company Ericsson. AT&T could spend nearly $14 billion over the new five-year contract, sending Ericsson’s shares 4% higher.
• Video game publisher Take-Two Interactive released the trailer for its next installment in the popular Grand Theft Auto franchise, which is expected to be one of the biggest-ever game launches. However, the company announced the game wouldn’t be released until 2025, sending its shares slightly lower.
• Wells Fargo CEO Charles Scharf said the bank’s low turnover will likely lead to $750 million to $1 billion in severance payments in the fourth quarter, sending its shares 1.4% lower.
• Moody’s downgraded China’s credit outlook from stable to negative as it anticipates potential government bailouts due to rising debt levels and lower economic growth.
• October JOLTs data is out, and it's supporting a soft-landing narrative. Job openings in the U.S. reached their lowest level since March 2021, but are still up 22% from pre-pandemic levels.
• The services sector expanded more than expected in November, its 11th straight month of expansion.
What to be on the lookout for today
• The weekly update to the 30-year mortgage rate and final numbers for third-quarter labor productivity will be released.
• It will also be the busiest earnings day of the week with Campbell’s Soup, United Natural Foods, Chewy, C3.ai, ChargePoint, and GameStop reporting.
Think before you swipe this holiday season
If you plan to swipe your way through the gifting season, we have some tips for making sure you don’t start the new year with a massive debt hangover.
Using a credit card is convenient and can come with added perks like cash back or other rewards. But when not used carefully, the lure of buying now and paying later can lead to massive debt.
Swipe (your card) right
Be punctual with payment. Strive to pay your credit card bills on time. Credit cards often have late-payment fees and high interest rates, which means that you will pay more over time. Automating payments and setting up reminders can help streamline the process.
Pay more than the minimum. Creditors usually don’t require you to pay your credit card bill in full each month, but only making minimum payments will keep you in debt longer and increase how much you pay in interest.
Carefully check your statements. It can be hard to see all your spending listed out. But it’s important to review each credit card statement carefully to make sure there are no fraudulent charges. Setting up email or text alerts on your credit card can also help catch fake charges.
This smart spending guide is full of tips and tricks to help you, no matter what your holiday shopping style is.
Today’s top stories
A dash of deflation: some products are actually getting cheaper. While almost everything else is more expensive, this one sector is‌ falling in price. Read more >> The world of podcasts is going through some major changes. The days of low-budget advertising are pretty much over. Here’s what changed. Read more >> Interest on credit cards can add up fast. If you want to learn how to avoid interest on credit cards, here are some options. Even if you can’t avoid interest entirely, there are ways to reduce the amount of interest you pay on a balance you’ve accrued. Read more >>Other news that caught our eye
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The U.S. Supreme Court will deliberate the definition of income, and whether a levy on unrealized gains is allowed.
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Eli Lilly’s weight-loss drug Zepbound hit shelves in U.S. pharmacies.
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CVS is implementing a new pharmacy reimbursement model called CVS CostVantage to increase transparency in prescription drug pricing in 2025.
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Uber introduced reindeer-disguised delivery robots and a festive karaoke charter bus for the holidays.
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The White House revealed a worldwide plan to expedite the commercialization of fusion energy with hopes to triple the production of this nuclear energy by 2050.
Financial planner tip of the day
“Only 40% of Americans can pay for an unexpected $1,000 emergency expense (which means their emergency fund is effectively their credit cards). And that’s not the only reason an emergency fund is crucial — it can also keep you afloat if you suddenly lose your job or need to take unpaid time off work.”
Brian Walsh, CFP® at SoFi