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Today in the Market (6/13/2023)

Good Evening! On Tuesday, the stock market experienced an increase following the release of inflation figures indicating a lower-than-anticipated price rise during May. This outcome is expected to result in a halt to the Fed’s campaign of increasing rates tomorrow.

The S&P 500 witnessed a rise of 0.69%, while the Dow Jones increased by 0.43%. The Nasdaq Composite finished the day with a surge of 0.83%.

PACK YOUR BAGS

Uber Health (UBER) has revealed that they would be launching a new grocery delivery service that will include the transport of over-the-counter medications and items from pharmacies.

So what does this do for Uber? The new service provides Uber with a means to generate revenue from government payers (Medicare and Medicaid). According to the statement released by Uber, with their first introduction of prioritizing medical care has resulted in an increase in deliveries. So it only makes sense for Uber to now be able to deliver groceries, over-the-counter medications, and items from pharmacies.

What advantages does this have for consumers? According to the U.S. Department of Health, the likelihood of experiencing food insecurity rises in economic uncertainty. The data collected by the department found that food insecurity among low-income households was up 28.6% for 2020, compared to the national average of 10.5%

So what does all of this mean? Decrease access to healthy foods may worseness the challenges associated with recovering or maintaining good health for individuals. Thus, consequently increasing health care expenses

TIME FOR CHANGE?

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A group of Gen Z appeared in court during the start of a significant legal action for a climate control case. The plaintiffs assert that the failure to take action on climate change has resulted in the infringement of their entitlement to a “clean and healthful environment”, which is preserved by the state’s constitution.

So what is the case? Throughout the 14-day trial, the plaintiffs will contend that the state’s favorable disposition towards fossil fuels (given that Montana is a significant coal exporter) has resulted in harm due to the adverse negative impacts (elevated temperatures, drought, and inhaling smoke from wildfires) to a progressively warming planet. However, most believe the state will argue that its contribution to the problems has been insignificant.

The significance? Experts believe achieving a victory by the group is unlikely to result in any swift changes to Monatans’s energy policy. However,  this particular case has the potential to establish a significant legal precedent for the judicial treatment of cases like this going forward! 

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