TLDR

MARKET RECAP → The S&P 500 (VOO) rose Monday, bouncing back after its worst week in over a year.

AMERICANS' WALLETS: OPTIMISM WITH A CATCH →💰 Americans have more cash and higher wages than in 2019, but rising inflation, credit card debt, and soaring homeownership costs have tempered their sense of financial well-being.

STARBUCKS CEO FACES KEY CHALLENGES → 📱 On his first day, Starbucks (SBUX) CEO Brian Niccol was tasked with improving the mobile app and boosting sales, while addressing slowing growth in China, the company’s second-largest market.

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Americans' Wallets: Optimism with a Catch

💰 Americans have more money in the bank than in 2019, but rising inflation and interest rates mean they don't necessarily feel wealthier, despite higher wages and 401(k) balances.

📉 Credit card debt is back to pre-pandemic levels, with higher interest rates making it more costly to carry a balance, pushing delinquencies higher.

🏡 Housing and car costs have surged, with mortgage payments doubling since 2019, making homeownership less affordable, but possible Fed rate cuts may bring some relief.

TODAY’S TOP NEWS

Starbucks CEO Faces Key Challenges

📱 On his first day, Starbucks (SBUX) CEO Brian Niccol emphasized improving the company's mobile app to drive customer engagement and boost sales, particularly in the competitive U.S. market.

🌏 Starbucks also faced challenges in China, its second-largest market, as the company navigated economic slowdowns and increasing local competition, putting pressure on growth.

🔄 Niccol aimed to revitalize the brand by streamlining operations and focusing on innovation, while addressing operational inefficiencies and adapting to changing consumer preferences.

BULL VS. BEAR

NOTABLE POSTS

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Huawei’s trifold phone gets 2.7 million pre-orders ahead of Apple’s iPhone 16 launch (CNBC)

52-year-old quit his job, bought a failing snack company for $250,000—now it brings in $103 million a year (CNBC make it)

Google’s second antitrust trial could help shape the future of online ads (CNBC)

Top Federal Reserve officials leave door open for large interest rate cuts if data worsens (Financial Times)

The State of America’s Wallet (WSJ - Paywall)

How To Negotiate With Debt Collectors (ML)

Should I Pay Off Debt Or Invest? (ML)

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