Good afternoon everyone. In case you missed it here's what happened in the markets this week…
Saudi Aramco. Drone attacks over the weekend severely disrupted output for the world's largest oil producer. Why does this matter? Less supply creates higher demand-a cycle that often leads to higher prices. Naturally, this spooked the markets, leading to a drop at the start of the week. Bottom line: Money spent on energy in the U.S. has decreased dramatically since the 1970s. And the U.S. oil industry has matured, largely protecting it from random price spikes. Saudi Aramco restored 1/3 of their lost output on Monday, and President Trump put the U.S. Petroleum Reserve on standby. Just in case.
Streaming Wars. Apple announced it will debut its Apple TV+ streaming service in November for $4.99/month. The service is priced distribute original monthly content cheaper than Netflix, Hulu, and Disney+. Oh, and if you buy an Apple laptop, desktop, iPhone, or iPad you get a one-year subscription free. Why does this matter? Apple moved 280 million units last year. Not accounting for customers who bought multiple products, that's up to 280 million people who will automatically become Apple TV+ customers for 12 months. Bottom line: As the battle for intergalactic domination continues Apple has a potential advantage when it comes to adding subscribers to its streaming service.
Random Reads for the Weekend
Halloween Travel Bucket List (POPSUGAR). Halloween is just around the corner (and my favorite Holiday). In the spirit of Halloween…If you’ve ever thought, hey, I’d love to plan a spooky road trip across the country, then let this article be your guide.
Rocket Scientist Invents New Way to Pay Down Debt (Huffington Post). This is an older article but still a great one on how to pay down debt quickly, safely, and in a way that helps you live wealthier now. I love referring back to it from time to time. Enjoy!
Thanks for reading. Have a great weekend everyone!
*These are the general views of Stanton Burns and they should not be construed as investment or financial advice for any individual. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Stanton Burns does not maintain positions in any securities mentioned as of the writing of this article. Past performance is historical and does not guarantee future results.