NEWSLETTER – NOV 6, 2022
Midterm results are looking increasingly sunny for Biden as he touts ‘strong night’ for Democrats
President Joe Biden told reporters ahead of Election Day he was “optimistic” for Democrats in the face of what was projected to be a “red wave” for Republicans amid decades-high inflation. As results are reported across the country Wednesday morning, it appears Biden was right to be hopeful.
Modern U.S. midterm elections are traditionally a rebuke of the party in office, but despite economic concerns and the president’s low approval rating, Democrats avoided major losses.
“It’s the most successful midterm for a Democratic president probably in history and certainly since the Second World War,” according to one expert.
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Disney wants you to focus on revenue and profit instead of streaming subscribers — just not this quarter
Disney added 12.1 million Disney+ subscribers and 14.6 million total direct-to-consumer customers in its fiscal fourth quarter.
But Disney’s streaming operating losses more than doubled in the quarter.
Shares slumped as investors viewed lower-than-expected profit and revenue as more bearish than better-than-expected streaming subscriber growth.
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Consumer prices rose 0.4% in October, less than expected, as inflation eases
The consumer price index increased 0.4% for the month and 7.7% from a year ago, both lower than estimates.
Excluding volatile food and energy costs, so-called core CPI increased 0.3% for the month and 6.3% on an annual basis, also lower than expectations.
Prices declined for medical care services, used vehicles and apparel. Shelter costs posted their highest monthly gain since 1990.
Markets soared on the report and Treasury yields tumbled.
Sourced from CNBC
