It Girl Identity: Issue 14

It Girl Identity Newsletter

Grab your apple crisp latte and read what's moving markets this week, learn about credit cards, and enjoy our curated It Girl Identity recommendations!

What’s Moving Markets

Wall Street faces a busy start to September with key economic reports like CPI, PPI, and consumer surveys ahead of the Fed meeting. Notable earnings include Oracle, Kroger, Adobe, and GameStop. Apple will also unveil new iPhones, watches, and AirPods at its annual event.

What’s Up

• Molten Ventures PLC (GROW): The venture capital firm has seen a consistent rise in its share price over the past year. Recently, its stock has grown by 1.37% in the last week.

• Craneware plc (CRW): The stock has risen by 7.97% over the past week, partly due to strong demand for its new products as hospitals aim to enhance productivity.

• Big Yellow Group plc (BYG): Big Yellow Group Plc’s stock price reached a new 52-week high during mid-day trading on Friday the 6th of September. The company traded as high as GBX 1,304 ($17.15) and last traded at GBX 1,292 ($16.99), with a volume of 134952 shares.

• Dell Technologies (DELL) and Palantir Technologies (PLTR) are set to join the S&P 500 index, replacing Etsy (ETSY) and American Airlines (AAL).

• Top S&P 500 Gainers: Dollar General +2.70%, SBA Communications +2.20%, Crown Castle +1.98%, United Airlines Holdings +1.97%, Kenvue +1.55%, AT&T +1.55%, Chipotle Mexican Grill +1.23%.

What’s Down  

• Nvidia (NVDA): Nvidia’s stock fell nearly 10% as excitement over AI slowed down.

• Zscaler (ZS): Zscaler’s stock dropped 19% on Sept. 4 after reporting slower future growth, from 34% to 20-21%, due to economic issues and increased competition from firms like CrowdStrike.

• Baiyu Holdings (BYU): The SEC halted Baiyu Holdings' trading due to concerns over inaccurate information and possible market manipulation. The company’s stock was artificially boosted through social media promotions.

• Top S&P 500 Losers: Broadcom -10.36%, Tesla -8.45%, Albemarle -6.90%, Super Micro Computer -6.79%, Wells Fargo -5.03%, PayPal -4.36%, Nvidia -4.09%.

Markets and Economy

• Weaker Job Market: The U.S. economy added 142,000 new jobs, missing expectations of 161,000 but still an improvement over the previous month. The unemployment rate dropped slightly to 4.2% from 4.3%. Additionally, job growth numbers for June were revised down by 61,000 to 118,000, and July saw a 29,000 reduction to 89,000 jobs. According to The Wall Street Journal, this contributed to the S&P 500 and Nasdaq declining by 1.7% and 2.6%, respectively. The IT sector is particularly impacted, with tech unemployment now at 6%.

• Sports Betting Market Share: Bank of America reports that FanDuel (FLUT) controls 42% of the online sports betting market, followed by DraftKings (DKNG) at 34%. Smaller players include BetMGM (MGM) with 7%, Caesars Sportsbook (CZR) at 5%, and ESPN Bet (PENN) with 3%. ESPN Bet recently expanded into New York, and companies like Fanatics and Rush Street Interactive (RSI) aim to grow their market share as well.

• Selena Gomez Joins the Billionaires Club: Selena Gomez, the actress and singer turned cosmetics mogul, has entered the billionaire ranks, with a net worth of $1.3 billion, largely from her beauty empire, Rare Beauty. Founded five years ago, Rare Beauty is now valued at $2 billion and outperforms other celebrity cosmetics brands in revenue. Gomez’s significant Instagram following boosts her brand's reach, and she also benefits from endorsement deals, her mental health startup Wondermind, and past touring. Despite this, her acting and streaming royalties contribute less than 5% of her wealth.

IPOs & Mergers and Acquisitions

• Topgolf Callaway Split: Topgolf Callaway Brands announced plans to split into two companies to separate its traditional golf equipment business from Topgolf, the fast-growing entertainment venue chain that combines driving ranges with restaurants and bars. The split aims to streamline operations and unlock value for shareholders by allowing each business to focus on its core competencies. Callaway will continue to focus on its golf equipment, including clubs, balls, and accessories, while Topgolf will expand its entertainment offerings. The company expects this move to drive higher returns for investors by allowing for more targeted growth strategies in each segment.

• U.S. Steel Sale Faces Security Block: The Biden administration flagged the $15B sale of U.S. Steel (X) to Nippon Steel (OTCPK) as a national security risk, causing U.S. Steel's stock to drop 18%. CEO David Burritt warned of potential mill closures and a headquarters move if the deal is blocked.

• 7-Eleven Owner Rejects $38.6 Billion Bid: Seven & i Holdings, the Japanese owner of 7-Eleven, rejected a $38.6 billion takeover bid from Canada’s Alimentation Couche-Tard, which owns Circle K. Seven & i Holdings deemed the offer as undervaluing the company and insufficiently addressing potential antitrust issues. While rejecting the bid, the company remains open to negotiating a better deal.

• IPO Watch: Impact BioMedical (MPCT) is set to price its IPO and begin trading next week. The company plans to offer 2 million shares between $3 and $5 each, aiming to raise around $8M. Impact BioMedical focuses on healthcare innovations through partnerships. Kairos Pharma (KAPA) is also expected to start trading after a long delay.

Earnings Calendar

This Week's Major U.S. Economic Reports & Fed Speakers

Here is a quick breakdown of this week’s Fed Speaker events and economic indicators, what they mean, and their forecasts!

Monday, September 9

• Wholesale Inventories (July): Measures the total value of inventories held by wholesalers. 

• Consumer Credit (August): Measures the total amount of credit available to consumers. Forecast: $8.9B (Previous: $8.9B).

Tuesday, September 10

• NFIB Optimism Index (August): Reflects small business optimism in the U.S. economy. Forecast: 93.7 (Previous: 93.7).

Wednesday, September 11

• Consumer Price Index (August): Measures changes in the price level of a market basket of consumer goods and services. Forecast: 0.2% (Previous: 0.2%).

  • CPI Year Over Year: Measures the percentage change in consumer prices from the previous year. Forecast: 2.9% (Previous: 2.9%).

  • Core CPI (August): Excludes food and energy prices to measure underlying inflation. Forecast: 0.2% (Previous: 0.2%).

  • Core CPI Year Over Year: Measures the percentage change in core consumer prices from the previous year. Forecast: 3.2% (Previous: 3.2%).

Thursday, September 12

• Initial Jobless Claims (September 7): Number of new claims for unemployment benefits. Forecast: 225,000 (Previous: 227,000).

• Producer Price Index (August): Measures the average change in prices received by domestic producers for their output. Forecast: 0.1% (Previous: 0.1%).

  • Core PPI (August): Excludes food and energy prices to measure inflation at the wholesale level. Forecast: 0.3% (Previous: 0.3%).

  • PPI Year Over Year: Measures the percentage change in producer prices from the previous year. Forecast: 2.2% (Previous: 2.2%).

  • Core PPI Year Over Year: Measures the percentage change in core producer prices from the previous year. Forecast: 3.3% (Previous: 3.3%).

• Monthly U.S. Federal Budget (August): Measures the government's budget surplus or deficit. Forecast: -$317.3B (Previous: $89B).

Friday, September 13 

• Import Price Index (August): Measures the average change in prices paid for imports. Forecast: 0.1% (Previous: 0.1%).

• Import Price Index Minus Fuel (August): Measures import prices excluding fuel. Forecast: 0.1% (Previous: 0.1%).

• Consumer Sentiment (Prelim.) (September): Measures consumer confidence in economic conditions. Forecast: 68.5 (Previous: 67.9).

Sources: Business Insider, WSJ, Reuters, The Guardian, MarketWatch, Nasdaq, BBC News, The Motley Fool, The Financial Times, Benzinga, MarketBeat

Everything We Know About Credit Cards

Last week, we broke down interest rates and their importance. In this week’s issue, cash back is on topic, and notably - credit cards!

Why are Credit Cards Important? Credit cards not only provide the opportunity to borrow money, but also hold credit history. Having good credit history allows you to be approved more easily for big loans such as auto loans and mortgages, as it signifies healthy borrowing and repayment habits. Also, having a credit card, especially as a student, helps you learn how to manage your money - when and how much to borrow, when to pay your bill - all based on your spending habits and available balance.

What is a Credit Score? Your credit score is a way for lenders and institutions to assess your creditworthiness and is based on your credit history. Factors such as high credit availability, on-time balance payments, and number of credit lines affect your credit score.

• Bonus Tip #1: Paying your balance before your due date and before your statement is issued boosts your credit score faster!

When Should I Get a Credit Card? It is recommended to get your first credit card as soon as you can - ideally when you are finishing high school/starting college. Building credit history is important, and the longer you’ve had exposure to credit (as long as it is healthy), the better for your credit score.

What Credit Card Should I Get? There are different types of credit cards - student, travel rewards, cash back, store, secured, etc. For a beginner credit card, a good choice is a student card or a secured card (secured deposit acts as available credit). If you travel a lot and have a certain airline preference, a travel credit card could be useful for earning points.

• Bonus Tip #2: Some credit cards offer cash back on certain categories. If you often pay for gas or groceries, find a card that gives a certain percentage of your purchase back for those specific categories. The Discover card and CapitalOne’s SavorOne card are great options for students with no monthly fees and excellent cash back opportunities. It is recommended to do some research on the credit cards that best match your profile and spending needs and choose the best option for you!

After you choose the best credit card for your needs, make sure to pay your bill on time, have enough credit, and enjoy the process of building credit!

Disclaimer: Information shared here is for educational purposes only. Consult a financial advisor for personalized advice.

It Girl Recommendations

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Apple Crisp Latte Recipe

Financial Fashion

Whether you’re looking to switch from a backpack to a tote or entering the corporate world, here are a couple of practical and elevated options for your everyday use. Shop these it girl looks below:

• Top Left: Longchamp Tote

• Top Right: Lululemon Two-Tone Canvas Tote

• Bottom Left: Alo Iconic Shopper Toe

• Bottom Right: Goyard Artois MM Bag

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See you next Monday, It Girls!

With Love,

It Girl Identity