Stock Market Winners & Losers: Stocks Edge Higher with Inflation Data | Netflix Interest in Live Sports is Rising | Buy Now Pay Later Plans are Very Popular
Stocks began on a positive note, buoyed by anticipation surrounding the forthcoming inflation report and its potential implications for interest rate adjustments. May witnessed a robust stock market performance, fueled by stronger-than-expected earnings, with the Dow securing an impressive eight consecutive daily gains. As investors awaited the consumer price index report slated for Wednesday and the producer price index due on Tuesday, attention remained focused on economic indicators. Concurrently, McDonald’s aimed to introduce a $5 value meal amidst a backdrop of restrained consumer spending, particularly among low-income demographics. Meanwhile, Netflix continued its foray into live sports, announcing plans to livestream a boxing match featuring Mike Tyson and Jake Paul in July, a move designed to attract new subscribers and capitalize on the cultural significance of live sporting events. However, amid these victories, the popularity of buy now, pay later (BNPL) plans surged, with apps like Klarna, Afterpay, and Affirm experiencing notable growth. While BNPL loans offer interest-free options, they also pose risks such as "phantom debt" and missed payments, with a significant portion of users admitting to falling behind on payments, often resorting to BNPL due to maxed-out credit cards.
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