Stock Market Winners & Losers: Stocks Await Latest Fed Decision | Netflix Releases Viewing Statistics for Nearly All Titles | Credit Cards are Harder to Get While Limits are Rising

Winner: Stocks await latest Fed decision
• Stocks were mostly flat Wednesday as investors await the Federal Reserve’s latest policy decision.
• Investors will also parse through Fed Chair Jerome Powell’s commentary for clues into how soon rate cuts can be expected..
• Powell may choose to push back as Treasury yields pull back on their own.
• The 10-year Treasury yield has fallen to 4.2% after topping 5% in October.
• Shares of Pfizer touched a 10-year low, after the company issued profit and revenue forecasts that were below estimates
• Wholesale prices aka PPI were unchanged in November, providing another piece of positive inflation news. On a year over year basis, the index was up just 0.9%

Other Stories
- Gas prices are going down. The national average price for a gallon of gas are going down in the U.S. with national average just at $3.137. More than half of all gas stations have gasoline below $3 per gallon. Texas ($2.60) is lowest and California ($4.70)
- 2 million plus Tesla cars recalled over Autopilot defect. In some circumstances when Autosteer was in use, “there may be an increased risk of a collision.” The recall will affect Tesla’s Model S, Model X, Model 3 and Model Y vehicles built since 2012.. Tesla is rolling out an “over-the-air software remedy” to fix the problem.
- Flavorflation cheap out on ingredients!!! Inflation may be cooling, but companies still have a few tricks up their sleeves. Introducing * drumroll please * flavorflation — when brands cheap out on ingredients. Shoppers are shouting about crumblier Ritz crackers, Twix with less caramel, and Breyers that’s more ice than cream. As if shrinkflation weren’t bad enough.
Apple introduces new iPhone security mode to protect against stolen passcodes. The setting, called Stolen Device Protection, will use the device’s location to determine whether the user is at home or work and then would require FaceID in addition to a passcode to perform sensitive actions such as checking or changing passwords.

Winner: Netflix releases viewing statistics for nearly all titles
• Netflix is finally revealing viewership statistics on nearly all of its shows and movies.
• Netflix released its first “What We Watched” which ranks almost all of its shows and movies by amount of hours viewed over the past six months.
• 18,000 titles at Netflix
• Netflix will release updated reports every six months,.
• Netflix has long had a reputation for lack of transparency about the popularity of its shows and movies.
• Netflix now has almost 250 million global subscribers, far outpacing any other streaming service.

• Hollywood actors and writers both mentioned wanting heightened transparency during their strikes .
• Netflix’s new advertising tier left brands wanting information.
• Season one of “The Night Agent,” a Netflix original action thriller, garnered 812 million viewing hours.
• “The Mother,” starring Jennifer Lopez, was the streaming service’s top movie.
• 55% of Netflix viewing came from original films and series and 45% from licensed titles.
• The enthusiasm for non-English stories, which generated 30% of all viewing;

Loser: Credit Cards Are Harder to Get While Limits are Rising
• Credit Cards Are Harder to Get
• With the holidays in full swing, more shoppers are requesting increased credit limits and getting them .
• Lenders are get stingier about issuing new cards as the economy slows.
• Credit card debt has reached a record $1.08 trillion
• Average debt is $7,951, at least a 10-year high.
• After COVID, inflation and interest rates went out of control ... people have less emergency funds.
• Americans are using more credit card utilization – over 30% or well over 50% of their credit card allowance
• Then they can’t get approved for another card because their credit rating is down.
• For 2023 overall, the application rate for higher credit limits increased to 14.4% from 11.5% in 2022.

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