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| 📈 Trend Tracker | Walgreens stock sinks after company warns of lower profits due to 'lower than expected' COVID-19 vaccine spending. The pharmacy giant said that it expects profits to be down by as much as 13% in the second quarter, as consumers are spending less on COVID-19 vaccines and other treatments. This news sent Walgreens' stock down by more than 9% in early trading. | Stocks edge higher in early trading, looking to rebound from recent losses. The S&P 500 and Dow Jones Industrial Average were both up slightly in early trading on Tuesday, as investors looked to snap a six-day losing streak for the Dow. The tech-heavy Nasdaq Composite was also up, gaining 0.4%. Investors will be watching economic data due out later in the week for signs of how the US economy is holding up as the Federal Reserve raises interest rates. | Florida Governor Ron DeSantis is arguing for immunity from a lawsuit filed by The Walt Disney Company. The company sued the state after DeSantis signed a bill that dissolves the Reedy Creek Improvement District, which is a special taxing district that Disney controls. Disney argues that the law violates its constitutional rights and was passed in retaliation for its opposition to a controversial parental rights law. | | 🏠 Hot or Not? | Is now a good time to buy a house? The housing market is hot, but there are pros and cons to buying now. Consider your financial situation, your needs, and the future of the market before making a decision. | New home sales in the United States surged for the third straight month in May, reaching a seasonally adjusted annual rate of 704,000. This is the highest level of new home sales since June 2007. The surge was driven by strong demand and a limited supply of homes on the market. Mortgage rates have also been rising, which could help to cool the market in the coming months.
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| | Crypto Chronicles 💥 | | Coinbase Offers $50 Million Loan to Hut 8 Mining as Bitcoin Halving Approaches. Cryptocurrency exchange Coinbase has offered a $50 million loan to Hut 8 Mining, a Canadian crypto mining company, to help it prepare for the 2024 Bitcoin halving. The halving is an event that occurs every four years when the reward for mining a block of Bitcoin is cut in half. This makes it more difficult to mine Bitcoin, and could drive up the price. The loan from Coinbase will help Hut 8 expand its mining operations and increase its hashrate, which is the amount of computing power it has available to mine Bitcoin.
| Bitcoin briefly pushed above $31,000 on Tuesday after a report that asset management giant Fidelity was preparing to file for a spot bitcoin ETF. The news prompted a short-lived rally, but the price of the leading cryptocurrency has since pulled back to around $30,500. Fidelity has not yet confirmed whether it will file for a spot ETF, but the report has nonetheless boosted sentiment in the bitcoin market. | TrueUSD, a popular stablecoin, has only $26,000 in reserves at its US depository, according to a new report. This has led to the stablecoin's issuer, Prime Trust, halting withdrawals. | | 💸 Money Moves 💰 | Costco is cracking down on unauthorized card sharing among non-members. The company has reportedly noticed an increase in card sharing at self-checkout registers, and is now requiring all members to present their cards at checkout. This change is likely to inconvenience some non-members, but it is a necessary step to protect Costco's business. | Student loan payments are set to resume in October after a three-year pause. Borrowers should start preparing now by creating a budget and making a plan to repay their loans. There are also a number of repayment options available, so borrowers should explore their options to find the best fit for their financial situation. | The worst times to drive or fly during the 4th of July holiday weekend are Thursday, June 29th between 4-6pm, Friday, June 30th between 10am-5pm, Saturday, July 1st at 1pm, and Tuesday, July 4th between noon-3pm and Wednesday, July 5th between 3-6pm. Plan your travel accordingly to avoid the worst of the traffic. | | You got it! Alright, financial mavericks, it's time to wrap up today's discussion. But fear not, we can keep the conversation going like the true money mavericks we are. | | Share Financial Maverick | Calling all Financial Mavericks! To help out a family and friend in need by sharing this newsletter. Tell you what if you ever wanted to be a Hero, Financial Guru, or a Nice Person this is your time! | | | Did today's newsletter hit the spot? 😉 | | | DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. | | | |
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