Stock Market Winners & Losers: Stocks Little Changed as 10YR Plays with 5% Level | More People are Missing Car Payments | Apple Lures Younger Sports Fans to Streaming
Winner: Stocks little changed as 10-year plays with 5% level
• Stocks were little changed as Treasury yields rose above 5% but drifted back below.
• Big week of corporate earnings from tech industry giants.
• Interest rates have soared in recent weeks,
• .Chevron to buy Hess Corp for $53 billion in second oil mega-merger in weeks
• Exxon Mobil bid $60 billion for Pioneer Natural Resources earlier this month. The deal also signals Chevron’s plans to continue boosting investments in fossil fuels as oil demand remains strong
• .Bitcoin trades above $30,000 to start the week as Investors are expecting the approval of a bitcoin ETF to change that between the end of the year and the first half of 2024.
• Popeyes Cajun-style turkey available to preorder for Thanksgiving dinner. Thaw. Heat and Serve. One turkey costs $99 plus tax and feeds eight to 12 people, Popeyes says.
Loser: More people are missing car payments
• A record number of subprime borrowers are behind on their auto loan payments by 60 days or more,.
• The average car payment for a new vehicle is $725 monthly up 11.5% year over year.
• New lease payments average $586 (up 11.2%).
• Used cars have the lowest average monthly payments at $516.
• Car payments have become the highest expense for some Gen Zers and millennials, even exceeding their rent.
• High interest rates are also having an impact, with many turning to borrowing to cope.
• Credit card debt surpassed $1 trillion for the first time.
• For subprime borrowers, rates for new cars average 11.5% and 18.5% for used autos, according to Experian.
• Prime borrowers are charged far less – 6.4% and 8.75% respectively on average.
Winner: Apple lures younger sports fans to streaming
• Sports rights are the hottest thing in television right now
• Apple’s deal with Major League Soccer is paying off.
• It's rumored to be bidding on Formula One and NBA rights.
• Speculation is that Apple could buy or partner with ESPN from Disney.
• Apple could also bid on NFL Sunday night ticket
• Apple wants sports that can deliver on three standards: exclusive, global, and premium.
• Apple isn't interested in purchasing regional rights say like the SF GIANTS
• Apple’s Big fish could come with Formula One.
• F1 operates as a more "exclusive" sport that attracts a higher-income consumer.
• The average age of NBA, NHL, and MLB viewers sits at 42, 49, and 57, respectably.
• F1's younger audience, with the average age of 36 years.

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