- GRIT
- Posts
- Consumers Are Doing What?
Good Morning!
Happy Friday! Have a great weekend:
👉Consumer spending numbers
👉Meta receives letter
👉Bayer wins lawsuit
SPENDING: Consumers Exceeded
Consumer spending in July exceeded expectations, with retail sales rising 1%, far above the 0.3% forecast. Excluding autos, sales still outpaced predictions, growing by 0.4%. Meanwhile, unemployment claims dropped to 227,000, signaling a steady labor market.
Source: CNBC
Despite inflation easing, with prices up just 0.2% in July and annual inflation down to 2.9%, import prices rose slightly by 0.1%. The Fed may consider a rate cut in September, though consumer resilience could lead to a cautious approach. Manufacturing remains weak, with both New York and Philadelphia Fed indexes in negative territory.
🎯GRIT TAKE: If the labor market shows…upgrade to VIP now to read the full GRIT Take!
META: Congress Investigates
A group of federal lawmakers sent Meta CEO Mark Zuckerberg a letter on Thursday, accusing the company of not doing enough to stop drug ads on Facebook and Instagram.
Source: Fox
They pointed to reports showing ads for illegal drugs like prescription pills and cocaine were easily found on Meta's platforms. Despite being under investigation for facilitating drug sales, Meta has continued running these ads. The letter, signed by 19 members of Congress, asked Zuckerberg 15 questions about how the company is handling the issue, with a response due by September 6. Meta confirmed it received the letter and plans to respond.
BAYER: Legal Win
Bayer's stock jumped early in the afternoon after the company announced a legal win in its ongoing Roundup lawsuit. The 3rd U.S. Circuit Court of Appeals in Philadelphia ruled in favor of Bayer, rejecting a claim that Monsanto, which Bayer acquired in 2018, failed to warn about cancer risks on Roundup labels.
Source: NBC
The case involved David Schaffner, who was diagnosed with non-Hodgkin's lymphoma and sued Monsanto in 2019. Despite the win, Bayer faces ongoing legal challenges, with around 54,000 claims pending after a $10.9 billion settlement in 2020. Bayer is urging the U.S. Supreme Court to intervene.
Chart of the Day
📊 Streaming Wars
Source: GS Investing
GRIT Meme of the Day 😂
Tag GRIT Capital on social media for a chance to be featured in our meme or Tweet of the day in our GRIT daily newsletter! 👇
Source: @wallstmemes
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Grit is a publisher of financial information, not an investment advisor. Grit does not provide personalized or individualized investment advice or information that is tailored to the needs of any particular recipient. Grit does not guarantee the accuracy or completeness of the information provided in this page. All statements and expressions herein are the sole opinion of the author or paid advertiser.
THE INFORMATION CONTAINED ON THIS WEBSITE IS NOT AND SHOULD NOT BE CONSTRUED AS INVESTMENT ADVICE, AND DOES NOT PURPORT TO BE AND DOES NOT EXPRESS ANY OPINION AS TO THE PRICE AT WHICH THE SECURITIES OF ANY COMPANY MAY TRADE AT ANY TIME. THE INFORMATION AND OPINIONS PROVIDED HEREIN SHOULD NOT BE TAKEN AS SPECIFIC ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. INVESTORS SHOULD MAKE THEIR OWN INVESTIGATION AND DECISIONS REGARDING THE PROSPECTS OF ANY COMPANY DISCUSSED HEREIN BASED ON SUCH INVESTORS’ OWN REVIEW OF PUBLICLY AVAILABLE INFORMATION AND SHOULD NOT RELY ON THE INFORMATION CONTAINED HEREIN. INVESTORS SHOULD OBTAIN INDIVIDUAL INVESTMENT ADVICE BASED ON THEIR OWN CIRCUMSTANCES BEFORE MAKING AN INVESTMENT DECISION
No statement or expression of opinion, or any other matter herein, directly or indirectly, is an offer or the solicitation of an offer to buy or sell the securities or financial instruments mentioned.
The author, publisher or insiders of the publisher may currently have long or short positions in the securities of the companies mentioned herein, or may have such a position in the future (and therefore may profit from fluctuations in the trading price of the securities). To the extent such persons do have such positions, there is no guarantee that such persons will maintain such positions.
Any projections, market outlooks or estimates herein are forward looking statements and are inherently unreliable. They are based upon certain assumptions and should not be construed to be indicative of the actual events that will occur. Other events that were not taken into account may occur and may significantly affect the returns or performance of the securities discussed herein. The information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and Grit undertakes no obligation to correct, update or revise the information in this document or to otherwise provide any additional material.
Grit does not accept any liability whatsoever for any direct or consequential loss, however arising, directly or indirectly, from any use of the information contained herein.
By using the Site or any related social media account, you are indicating your consent and agreement to this disclaimer and our terms of use. Unauthorized reproduction of this newsletter or its contents by photocopy, facsimile or any other means is illegal and punishable by law.
Please read: Terms of Use, Privacy Policy, Disclosure Policy and Disclaimer Policy
If you have any questions please contact us at info@gritcap.io
Reply