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Today in the Market (5/15/2024)

Good Morning! On Wednesday, there was a significant increase in US equities, resulting in all three main indexes reaching new record highs. This surge was driven by lower-than-expected data on consumer prices, which investors hope that the Federal Reserve may reduce interest rates earlier than anticipated.

All three indexes had solid gains with the Dow Jones seeing an 0.88% increase, the S&P 500 rising by 1.17%, and the NASDAQ setting another new record of a surge of 1.40%.


As part of its second Upfront presentation, Netflix (NFLX) informed advertisers that its ad tier had reached 40 million worldwide monthly active users. This represents a considerable rise from the 15 million users that the company disclosed back in November, as well as a 35 million increase in comparison to the same period in the previous year. It is working so well that the ad tier is currently responsible for more than 40% of all Netflix sign-ups in regions where it is available.

Netflix didn’t stop there! Along with the user upgrades, the firm also announced the launch of a new in-house advertising technology platform. This platform will provide advertisers with different methods to purchase advertisements and evaluate their effectiveness. On top of that, Netflix said that it had been awarded the streaming rights to two National Football League games that were scheduled to show on Christmas Day as part of a three-season arrangement. According to Bloomberg, the business is expected to pay a sum that is lower than $150 million for each game.


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In April, there was a steady decline in vehicle costs, particularly in the used car market, which had the largest decrease among all main categories in the Consumer Price Index (CPI) during the last year. This decline is a result of the auto market stabilizing after experiencing significant price hikes during the pandemic. What a crazy time

So how much did car prices fall? According to statistics from the BLS, the prices of used cars decreased by 1.4% compared to the previous month in April, and by 6.9% compared to the previous year. The costs of new cars saw a decrease of 0.4% in April and a 0.4% decrease compared to the previous year. How does this compare to Covid times? Prices for used autos have seen a decline of 16.8% from their highest point in February 2022.

The big picture! The Bureau of Economic Analysis reported that automobile and light truck sales in April were recorded at an annualized pace of 15.7 million units, slightly lower than the high rate of 16.1 million in December. However, before the pandemic, car sales typically fluctuated between a yearly range of 17 to 18 million automobiles.

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