🧐 Why are clean energy stocks underperforming?

Tuesday,
November 7, 2023

Market recap

Dow Jones

34,095.86

+34.54 (+0.10%)

S&P 500

4,365.98

+7.64 (+0.18%)

Nasdaq Composite

13,518.78

+40.50 (+0.30%)

Beyond

$16.20

-$0.58 (-3.46%)

Dish Network

$3.44

-$2.06 (-37.43%)

Tesla

$219.27

-$0.69 (-0.31%)

Top Story

Clean energy stocks are generating plenty of investment — so why not returns?

While the overall market has rallied, major clean energy indexes are down approximately 30%. There are 3 main reasons why this sector is lagging behind.

US stocks rose slightly on Monday after logging their best week of 2023

• Shares of DISH Network plummeted 37% after reporting an unexpected loss and a 64,000 decline in Pay TV subscriptions in the third quarter. The company also saw revenue fall nearly 10% and announced its CEO was stepping down ahead of its merger with satellite operator EchoStar.

• Bumble founder and CEO Whitney Wolfe Herd said she'd step down early next year to executive chair of the dating app. Slack CEO Lidiane Jones will take her place. Bumble shares fell 4.4%.

• Following Overstock.com’s acquisition of Bed Bath & Beyond and its name change to Beyond Inc., its board decided to move forward with new leadership. CEO Jonathan Johnson will step down and the company’s president David Nielsen will serve as interim CEO while it searches for a permanent candidate. Beyond shares were down 3.5%.

• Google is facing its second antitrust trial in two months. Epic Games, the video game studio behind Fortnite, alleges the Google Play Store takes an unfair cut of revenue from third-party developers.

• In its efforts to drive EV adoption, Tesla plans to build a 25,000 euro car at its Berlin factory.

What to be on the lookout for today

• Uber, eBay, Robinhood, and CAVA will report earnings.

• September’s U.S. balance of trade will also be released.

Talk to your loved ones about retirement

Money conversations can be hard and uncomfortable. But you should still have them, especially with your parents.

Many people find themselves in the position of taking care of their kids and aging parents at the same time.

So knowing how financially healthy your parents are is important. Here are some questions to help start the conversation.

What are your goals, and what will they cost?

Some people dream of living their golden years traveling around the world, while others want to move closer to their kids and grandkids. There’s no right answer here, but knowing future plans can help determine what’s needed when it comes to retirement savings.

What’s your financial plan?

Knowing what money your parents plan to rely on in retirement is important. They might have a pension, 401(k), and Roth accounts that will allow them to live comfortably, or they might be relying on Social Security – or you. Knowing this will enable you and your family to plan accordingly.

Today’s top stories

The $600 billion change in consumer spending: Meet the “hermit economy”
Years after the pandemic, consumers still aren’t spending big on going out — but that hasn’t stopped them from spending on staying in.
Read more >>

Watercooler chats, meet Gen Z
The younger generation is changing the conversation in the workplace — quite literally.
Read more >>

What determines a stock’s price, anyway? Here’s a look at 7 factors
Beyond the basic principles of supply and demand, there are other factors that contribute to changes in stock prices.
Read more >>

Other news that caught our eye

Starbucks will raise hourly wages for its store workers by at least 3% in 2024 and is planning to open around 17,000 new stores across the world by 2030.
Tyson recalled 30,000 pounds of “Fun Nuggets” after some customers reported finding pieces of metal inside the dinosaur-shaped nuggets.
Elon Musk’s AI startup xAI released chatbot Grok, distinguished by its sarcastic sense of humor. The chatbot will soon be made available to subscribers of X’s Premium+ service.
Only 4% of companies meet the U.N.’s criteria for net zero emissions goals, as businesses prioritize credits that offset emissions over reduction.

Financial planner tip of the day

“Automating savings can work, because it’s easy to burn through cash idling in a checking account on unmemorable or unnecessary expenses throughout the month. Shifting the money away from the checking account can make it a little more difficult to spend those funds — potentially stopping a bad financial habit before it starts.”

Brian Walsh, CFP® at SoFi

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