Wealth Management News & Insights
Homeowners Are Doing Small Projects but Deferring Big Ones, Target Names New C.E.O, Need a Labor Day Getaway? Six Alternative Destinations
Primary Sources
- Chair Jerome H. Powell Speech – Monetary Policy and the Fed’s Framework Review: At “Labor Markets in Transition: Demographics, Productivity, and Macroeconomic Policy,” an economic symposium sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, Wyoming. [FRB]
- Minutes of the Federal Open Market Committee: Participants continued their discussion related to the ongoing review of the Federal Reserve’s monetary policy strategy, tools, and communication practices (framework review). [FRB]
Financial Markets
- Amazon’s Big Bet on Groceries Isn’t a Knockout Blow for Rivals: The e-commerce giant is expanding significantly, but Instacart, DoorDash and Walmart have competitive strengths of their own. [WSJ]
- America’s Stock-Market Dominance Is an Emergency for Europe: Some of Europe’s most notable companies are moving to the U.S., deepening the region’s economic woes. [WSJ]
- Homeowners Are Doing Small Projects but Deferring Big Ones, Home Depot Says: Retailer’s shares rose more than 3% after it reported a 1% increase in comparable quarterly sales. [WSJ]
Financial Planning
- Can This New ‘Elite’ Travel Card Compete With Amex and Chase?: When it launched its Strata Elite card, Citi entered the high-end market for travel rewards cards. Here’s how it compares with its top competitors. [NYT]
- These New Parents Give Us an Unvarnished Look at How They Spend Their Money: People think they are prepared for the costs of parenthood. Then they end up ordering stuff on Amazon at 3 a.m. to get the baby to sleep. It all adds up. [WSJ]
- What Trump’s Megabill Means for Roth IRA Conversions: The tax-and-spending legislation enacted in July has tax breaks for some savers but makes an already-complex process trickier. [WSJ]
Business Strategy
- Target Names New C.E.O. as It Tries to Break Sales Slump: Michael Fiddelke, the company’s chief operating officer, will step into the role in February. [NYT]
- Come One, Come All! Buy Your TV Subscriptions Here!: A battle is heating up in the streaming world as millions of Americans sign up for multiple services through a single provider instead of separate apps. [NYT]
- Musk Sought Zuckerberg Help for OpenAI Bid, Court Filing Shows: Elon Musk tried to enlist rival Mark Zuckerberg for the $97.4 billion bid that his consortium made for OpenAI earlier this year, but the CEO of Meta Platforms did not come on board, OpenAI said in a court filing on Thursday. [Reuters]
- Inside Texas Instruments’ $60 Billion U.S. Megaproject, Where Apple Will Make iPhone Chips: When Texas Instruments announced a $60 billion manufacturing megaproject in July, it was a bold bet that companies would want to mass produce foundational microchips on U.S. soil. In August, Apple vowed to do just that. [CNBC]
- How Urban Outfitters’ Nuuly Stole the Show From Rent the Runway: The future of online clothing rental doesn’t lie with the company that pioneered it. [WSJ]
Life & Work
- Need a Labor Day Getaway? Six Alternative Destinations: From theaters and museums to kayaking and hiking, here are some of our favorite spots within a two-hour radius, by plane or train, from six major U.S. cities. [NYT]
- NYC Offices Are Back – Nothing Proves It More Than JPMorgan’s $3 Billion Tower: Bank prepares to move thousands of employees into its new, 2.5-million-square-foot Midtown headquarters. [WSJ]
- Beyond St. Andrews – Scotland’s Lesser-Known Golf Gems: These courses aren’t just gorgeous. They also immerse you in the culture and tradition of the game’s rich history. [WSJ]
- Hollywood’s Newest Formula for Success – Rereleasing Old Movies: The multiplex is awash in titles that are 15, 20, even 60 years old. Nostalgia is a factor but economics play a big part, too. [NYT]
The chart above shows the percentage increase in minutes watched for various Adam Sandler films after the release of Happy Gilmore 2 on Netflix.