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You are studying Investor Junkie’s weekly publication that will get you caught up on the week’s monetary information in lower than 5 minutes.
October twenty fourth, 2022
Final week’s market abstract (October Seventeenth-Twenty first, 2022):
- S&P 500: -2.93%
- Dow: +3.48%
- Nasdaq: +2.69%
- Bitcoin: -0.48%
Hey Junkies,
Hope you all had an excellent week! You understand who had a nice week? Netflix. We’ll inform you why and talk about the place the corporate plans to maneuver from right here. Here is a fast preview of all 5 tales that we’re masking at this time.
Let’s dive in!
Clint, Editor-in-Chief
What Everybody’s Been Buzzing About
1. Netflix Is Rising Once more…And A lot of Adjustments Are on the Manner
Netflix blew out expectations by including 2.41 million subscribers within the third quarter. Along with the subscriber development, the streaming large mentioned that it will begin cracking down on password sharing in 2023.
And the modifications do not finish there. Netflix’s ad-supported tier is launching in lower than two weeks. And on the finish of November, the corporate will take a look at out a restricted theater launch of its Knives Out sequel, Glass Onion, earlier than making it accessible to stream every week later. It is an attention-grabbing transfer for an organization that has lengthy predicted the inevitable demise of film theaters.
And what do all of those modifications add as much as? New monetization streams. For over twenty years, Netflix centered on one factor and one factor alone: subscriber development. However we’re in 2022 now, not 2012. And whereas excessive development quarters just like the one which Netflix simply skilled are good, they’re unlikely to be the norm.
Apple confronted the same conundrum a couple of years as iPhone gross sales development started to plateau. And the way did they reply? By including new recurring income streams like Apple Music, Apple TV+, and Apple One. It seems that this new period has been a really worthwhile one for Apple. And Netflix is hoping for related successes in its personal second chapter.
Give me some excellent news >>> 3 Advantages of Shopping for a House When Curiosity Charges Are Excessive
2. The IRS Launched Its A lot-Anticipated Price of Dwelling Changes
Every year, the IRS makes inflation changes for a wide range of tax provisions. Sometimes, these minor will increase do not make for front-page information. However with inflation exploding in 2022, many have been anticipating extra important modifications this yr…and the IRS did not disappoint.
Among the many headliners, the earnings limits for every tax bracket are rising by about 7% as are the usual deductions (as much as $27,700 for married {couples} submitting collectively). As a consequence of these modifications, many people may see larger paychecks beginning in January 2023.
To get extra particulars in regards to the upcoming modifications, take a look at the IRS announcement right here.
3. Social Safety Advantages Are Getting a Massive Inflation Bump Too
Talking of larger checks, Social Safety beneficiaries will quickly be receiving them as nicely. As soon as once more, it is a results of excessive inflation.
Just like the IRS, the Social Safety Administration releases annual Price of Dwelling Changes (COLAs). This yr, the adjustment shall be 8.7% which is the very best single-year enhance we have seen in 40 years.
As with the IRS modifications, the upper month-to-month Social Safety checks start in January. Study extra right here >>>
4. In search of Weed? You Could Quickly Discover it at Your Native Circle Ok
Final week, Circle Ok introduced a take care of Inexperienced Thumb Industries to promote hashish in Florida at RISE Categorical dispensaries which can have their very own separate entrances. For now, Circle Ok is rolling out its Florida take a look at to only 10 of its 600 areas.
Since hashish is just legalized for medical use in Florida, a medical card shall be required to make a purchase order on the dispensaries that are scheduled to open by the top of the yr. Nonetheless, Ben Klover, Inexperienced Thumb’s CEO, is happy that the Circle Ok partnership will “proceed to normalize marijuana.”
That is yet one more step within the ongoing weed motion that has solely accelerated in 2022. In October, President Biden unveiled his marijuana reform plan which included a pardon for all prior federal offenses of marijuana possession.
So the place are we at at this time? Weed is now authorized for medical use in 37 states, for leisure use in 19 states, and a number of states have marijuana poll initiatives arising over the following few months.
Excited by becoming a member of the celebration? >>> Methods to Put money into Hashish Shares in 2022
5. Birkenstock’s Boston Clogs Are Fall 2022’s Viral Obsession
Boston Clogs have been one in all TikTok’s hottest developments this yr which has induced them to promote out all around the nation. And that is led to astonishing costs on reseller websites like eBay.
The polarizing sandals usually retail for $160. However some savvy aspect hustlers have been promoting them for nicely over $300 to frenzied consumers who’re determined to get their palms on them ASAP.
The phenomenon has benefited Birkenstock as nicely, from each a PR and gross sales standpoint. And it as soon as once more demonstrates how helpful it may be to have social media influencers in your aspect, particularly for firms who promote tangible merchandise like clothes and jewellery.
Ought to You Belief Finfluencers? >>> We Reality-Checked 9 Fashionable TikTok Buyers
What To Hold Your Eye on This Week
Listed here are a couple of noteworthy financial occasions which can be arising this week:
- Monday, October twenty fourth: S&P U.S. Manufacturing PMI | October
- Tuesday, October twenty fifth: S&P Case-Shiller U.S. House Value Index | August
- Wednesday, October twenty sixth: New House Gross sales | September
- Thursday, October twenty seventh: GDP (First Estimate) | Q3
- Friday, October twenty eighth: Core PCE worth index
And listed below are a couple of of this week’s notable earnings calls:
- Monday, October twenty fourth: Berkeley Company (WRB), Brown & Brown (BRO)
- Tuesday, October twenty fifth: Microsoft (MSFT), Google (GOOG), Visa (V), Coke (KO)
- Wednesday, October twenty sixth: Meta Platforms (META), Boeing (BA), Ford Motor Firm (FO)
- Thursday, October twenty sixth: Apple (AAPL), Amazon (AMZN), Mastercard (MA)
- Friday, October twenty seventh: Exxon Mobil (XOM), Chevron (CVX)
Workers Favorites
At IJ, we all know that many different publishers are creating nice private finance content material. So every week we prefer to name out a couple of current tales from our colleagues that we felt have been attention-grabbing, eye-opening, difficult, inspiring…or simply humorous.
Listed here are our picks for this week:
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