This week in the markets
- The latest released jobs report was positive, demonstrating the strength of the economy with more jobs, lower unemployment, and more people quitting their current jobs in search of better opportunities.
- Apple revealed the new iPhone XS, which everybody except Wall Street was super excited about.
- E-cigs got heat from the FDA due to possibly causing a surge in teen nicotine use.
The economy is still booming 💥
Economic growth is in full force, with the August jobs report showing a near perfect score. The unemployment rate held low at 3.9%, the hourly earnings rate increased 2.9%, and there were 659,000 more jobs than unemployed people. The workforce is movin’ and shakin’ as it takes notice of significant economic opportunities. The quitting rate rose to 2.7%, which is the highest since 2001, suggesting the economy is near full employment. If the jobs report were an olympic gymnast, I’d say it gets a 10 out of 10.
Apple shows us all the new goods 🙈
Apple announced the release of its newest iPhone devices, the XR, XS, and XS Max, on Wednesday. The new iPhone XS (pronounced ten-es) offers a better processor for faster performance, up to 512 GB of storage, and an extra 30 minutes of battery life. The tech giant also unveiled its new Apple Watch Series 4, with better fitness tracking and health features.
Despite announcing all these new products, Apple’s stock price didn’t move much during the big reveal. This is likely due to all the press leading up to the event, which didn’t leave many surprises for the event itself. Apparently, if it doesn’t come in the form of a tweet, Wall Street isn’t impressed.
E-cigs may be in trouble with the FDA 🙀
Federal regulators are threatening to pull e-cigarettes from shelves if manufacturers don’t control teen use, which has recently reached epidemic levels. E-cigs were once considered a way to wean adults off of smoking, but over the past decade, studies have indicated that e-cigs may cause an increase in teen nicotine use. The FDA is demanding that the top 5 e-cig brands develop and submit plans to curb the use of their products over a 60-day period, which is an unprecedented move by the administration.
And now for your weekly Lionomics wrap-up 🤓
Lionomics: Finance made easy 🦁
This week, we learned that you can’t escape death or taxes (in case you didn’t already know that), but there may be ways to minimize it (taxes that is). Choosing between taxable and non-taxable investment accounts can make a big difference in how you reach your financial goals. We also looked at how short-term vs. long-term gains are taxed differently when selling investment assets. Timing is everything, especially when it comes to tax efficiency!
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