Jul 19, 2024

I heard that this week, there are a few key financial news stories to note. First, Goldman strategists are advising against buying the dip as the summer slump is upon us. They are cautioning investors to be mindful of market movements during this time. On the investment front, rPlus Energies has secured over $1 billion in construction debt to build a large solar and storage project in Utah. Additionally, there has been a surge in venture funding for late-stage fintechs and crypto startups, according to a report from CB Insights. The NBA’s owners have also approved a new $76 billion TV deal with Disney, Comcast, and Amazon, setting the stage for a potential dispute with Warner Bros. Discovery. The CFPB has proposed a rule for the earned wage access industry, targeting “tips” and expedited delivery fees. These developments are significant in the financial landscape and should be closely monitored by investors and industry professionals.

I also heard that Justin Bumper Reeve, previously with Hidden Track Music, has been named SVP of global sync at Virgin Music Group. In the retail sector, Joshua Schulman, the former CEO of companies such as Michael Kors and Coach, has been appointed as the CEO of luxury business Burberry, replacing Jonathan Akeroyd.

Additionally, there is an upcoming Axios event on Wednesday, July 31 in Washington, D.C. that will bring together financial experts and business leaders to discuss how corporate investment in the economy can impact and reflect broader market trends. The event will feature one-on-one conversations with John Felton, SVP and CFO of Amazon Web Services, as well as a View From the Top segment with Michael Mandel, Vice President and Chief Economist of the Progressive Policy Institute.

The event aims to explore the benefits of corporate investment in the U.S. economy, particularly in light of macroeconomic data showing inflation easing but Americans still feeling the impact in many sectors of the economy. Despite this, the economic data and outlook continue to look relatively strong for the United States. The event will provide an opportunity for attendees to engage in networking and discussions on these important economic topics.

Stay Well!