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Tuesday,
October 10, 2023

Market recap

Dow Jones

33,604.65

+197.07 (+0.59%)

S&P 500

4,335.66

+27.16 (+0.63%)

Nasdaq

13,484.24

+52.90 (+0.39%)

Tesla

$259.67

-$0.86 (-0.33%)

PepsiCo

$161.36

+$1.07 (+0.67%)

Constellation Brands

$235.09

-$1.52 (-0.64%)

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Top Story

Does the energy cost of AI outweigh the profit opportunity?

The emerging technology is contributing to massive growth in the tech sector, but the data centers that power it contribute to an unprecedented surge in energy demand.

Read more >>

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US stocks finished higher on Monday retracing earlier losses related to the conflict between Israel and Hamas that escalated following the weekend’s attacks

•   Oil prices jumped more than 4% on supply worries, while Treasury yields retreated as investors headed for safe haven investments.

•   Defense companies including Lockheed Martin (LMT) and Northrop Grumman (NOC) moved up nearly 9% and more than 11%, respectively.

•   Tesla reported that its China EV sales declined nearly 11% year-over-year in September just one week after announcing a decline in third-quarter deliveries.

•   Pharmacists, technicians, and other staff members at more than 500 Walgreens (WBA) locations walked out on Monday in protest of understaffing and management’s focus on profit over patient care. The strike is expected to continue through Wednesday. The company is due to report earnings on Thursday. Shares finished up more than 2% Monday.

What to be on the lookout for today

•   PepsiCo will release its third-quarter earnings results. Last quarter, the multinational food and beverage company updated its full-year guidance, projecting revenue growth of 10% and earnings per share growth at 12%.

The market’s problems are complex, but the answers scan be simple

When it comes to investing, how do you keep a level head and navigate the massive amount of information out there?

In the most recent episode of The Important Part podcast, SoFi Head of Investment Strategy Liz Young sits down with Ben Carlson, Director of Institutional Asset Management at Ritholtz Wealth Management and author of four books and the blog A Wealth of Common Sense.

Liz and Ben dig into how you can leverage the power of simplicity to establish a set of rules for your portfolio, make the most of the resources available to you, and weather market extremes.

Plus, get Ben’s take on whether real estate is a worthwhile investment in a volatile market and the most common mistake individual investors make.

Listen and subscribe on Apple, Spotify, or wherever you get your podcasts.


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Today’s top stories

Tighter emission standards are steering cruise ships toward clean energy
Cruise ships are facing increased pressure to curb carbon emissions. In response, operators are coming up with creative ways to operate efficiently.
Read more >>

Americans prefer Mexican beer
Mexican spirits and beer are more popular stateside than ever before. Here are the brands that are thriving.
Read more >>

How to stop being stressed about your finances
Here are 7 super easy steps to be less stressed about money while getting closer to reaching your goals.
Read more >>

Other news that caught our eye

Financial planner tip of the day

“The best time to invest is when you’re prepared; you know you’re in it for the long haul; you have the funds; you understand your risk tolerance, and you’ve identified your financial goals. When these fundamentals are in place for the long term, the market’s short-term ups and downs become far less relevant. The best time to invest is when you start.”

Brian Walsh, CFP® at SoFi

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