Stock Market Winners & Losers: S&P 500 Falls for a Second Day | Regulators Have Capped Credit Card Late Fees | Amazon’s Average Customer is White GenX Women
Loser: S&P 500 falls for a second day
Stocks are poised for another decline with the technology sector facing challenges. Apple's stock dropped over 3% due to a significant decline in iPhone sales in China during the early weeks of 2024. However, Target saw a notable rise of over 11% following better-than-expected holiday-quarter earnings.
Winner: Regulators have capped credit card late fees
The Consumer Financial Protection Bureau has capped late fees on credit card payments at $8, down from the previous average of $32. This move is expected to save American families over $14 billion annually. Late fees have become a $14 billion industry, surpassing revenue from interest and fees charged by card issuers.
Winner: Amazon's average customer is a white Gen X woman
Amazon ranks as the world's second-largest retailer behind Walmart, with product sales reaching nearly $255.9 billion in 2023. The company operates 1,363 distribution and fulfillment centers in the US and 1,176 facilities globally. Eight out of ten US shoppers made purchases from Amazon in the past year. The typical Amazon customer is a white Gen X woman earning approximately $60,000 annually. On average, customers place 72 orders each year, with an average cost of around $37 per order, resulting in an annual spending of $2,662.
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