Morning Download from Invincible Money
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Finance in 5 minute a day to help you make better money decisions.
Good morning investors! Hello to the 270+ new subscribers last week, especially the Romanians! 🇷🇴
📊 Economy
👽 Guardians of the Galaxy 3 was out over the weekend and earned a “meh” amount of $114M. After other recent Marvel movies like “Eternals”, “Thor” and “Ant Man” have been very lackluster, is Disney’s Marvel franchise wearing out its welcome? Who has time to keep up with the amount of Marvel and Star Wars content Disney is putting out?
Hollywood writer’s strike could last months as both sides (Writers Guild of America vs. streamers and networks) are deadlocked. The economy of Southern California could lose $3 B from a 3 month strike and the production of “Stranger Things” has been halted.
One point of contention is the use of AI in writing. The WGA wants none of it. Good luck with that!
🕑 U.S. President Biden and congressional leaders meet today to discuss the debt ceiling to avert a default. Sec. of the Treasury Yellen said Sunday “there are no good options” to avoid default by early June.
🛢️ Oil prices were up 2% yesterday thanks in part to a strong than expected jobs report for April.
💵 The CPI numbers will be out tomorrow and are expected to show an increase of 5% annually and 0.4% from April to March.
The CPI has come down from the 9.1% high, but it’s still more than double the 2% Fed target.
📰 News
📈 Stocks
U.S. regional banks were up yesterday, with PacWest leading at 27% after stating they would cut their dividend to build capital faster. The CEO said they were sound.
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👩🏽⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.