Economic Data Today, be on the lookout for May’s durable goods orders. These include long-lasting manufactured products, including transportation items. In April, new orders for durable goods rose 0.4% to $265.3 billion, which failed to meet analyst expectations. May’s pending home sales index is also due, which is a forward-looking [...]
Nine Months of NFTs NFTs can be hard to wrap your head around. These nonfungible tokens are traded on blockchains, similar to cryptocurrencies. In recent months, NFT sales declined as rising interest rates put pressure on various growth assets, particularly those in the tech sector. Bucking that trend, NFT marketplace [...]
A Rough Year Meta Platforms (META) is having a rough year. The company’s stock price was cut by nearly half since January 1 as user growth has slowed. Longtime COO Sheryl Sandberg announced she will leave the company this fall. Amid the current stumbles, CEO Mark Zuckerberg envisions a pivot [...]
As summer approaches, a new class of graduates is entering the workforce. They’ve worked hard to earn a degree and secure employment and are likely excited and perhaps a little nervous about their financial future. Thankfully, their employers have a unique opportunity to help ease some of that financial stress [...]
One is the Loneliest Number Energy is the only sector in the S&P 500 that’s positive over 3-month, 6-month, and year-to-date periods. If we take that window back one year, the only other sectors with positive returns are Utilities, Consumer Staples, and Health Care — the classically “defensive” portions of [...]
Shipping Shake Up The massive demand for consumer products and growth of online shopping during the pandemic is making an impact on the real estate sector. Companies need places to store products and space where employees can package them. This has driven up prices for warehouses and properties turned into [...]
2023 Target Completion Date Kellogg’s (K) plans to split itself into three independent companies in tax-free spinoffs. This is anticipated to be completed by the end of 2023. The move will carve out snacking from cereal, as well as establish a stand-alone plant-based business. Kellogg’s Chief Executive Steve Cahillane expects [...]
India-Based Online Retailer Walmart (WMT) is betting on Flipkart, a $37.6 billion e-commerce company based in India, to advance its competitive advantage against rival Amazon (AMZN). The US retailing giant owns 75% of Flipkart which, like Amazon, offers a diverse range of products from a variety of suppliers. While the [...]
Economic Data Today be on the lookout for May’s existing home sales, released by the National Association of REALTORS®. In April the number fell 2.4% from March, the third straight monthly decline. Year-over-year sales were down 5.9%. Inventory of unsold homes increased and the median average price climbed 14.8% over [...]
Bain Capital Led Round Wonder Group snagged $350 million last month in a Bain Capital led funding round. In total, the food-delivery start-up has raised $900 million, translating to a $3.5 billion valuation. The cash infusion comes amid a general contraction in the availability of venture capital. Rising interest rates [...]
