August 13, 2019
WHAT’S HAPPENING AROUND HERE
Fidos after Five at the Huntsville Botanical Garden – Bring your canine companions to enjoy the Garden AND enjoy a special admission rate of only $5! (Garden members are always free.) That’s a doggone good deal! Monday through Thursdays in August and September from 5-7pm.
Downtown Huntsville Women in Music Weekend returns for its second year this August in the city center featuring over 20 female musicians performing at over 10 Downtown area venues over the course of 4 music-filled days. Thursday, August 15th through Sunday, August 18th. Click here for more information.
Home loan rates are at the lowest levels in nearly three years, which is creating a surge in mortgage refinancing interest across the U.S. With 30-year interest rates currently hovering around 3.75%. An estimated eight million borrowers could look to shave at least 75 basis points off their mortgages in the near term.
Innovation and Transformation – When Amazon acquired internet pharmacy PillPack last year, the deal sent shockwaves through pharmacy companies. However, industry giants CVS and Walgreens have drawn a line in the sand, which will likely turn into a protracted battle between the old guard and the new. PillPack requires patients to transfer prescriptions from their existing pharmacy to the company’s mail-delivery service. CVS and Walgreens, the two largest U.S. pharmacy chains, have rejected numerous Pillpack transfer requests, claiming the company isn’t getting proper patient consent.
Great American Companies – The Walt Disney Company unveiled its streaming strategy on Aug. 6, and while it won’t slay Netflix, it could cause headaches for the streaming giant. “Mouse House” will bundle its service, Disney+, with Hulu and ESPN+ for a $12.99 monthly subscription. That’s the same price Netflix charges for its standard plan.
High Rates – Despite low Fed benchmark rates, the average interest rate consumers pay on credit cards topped 17 percent in May, the highest in 25 years, according to the Federal Reserve. There is currently $850 billion in U.S. credit-card debt outstanding.
Cashing In – Jeff Bezos sold 960,000 shares of his Amazon stock last week to fund his space program, Blue Origin. At around $1,900 per share, he collected $1.8 billion.
Thursday: Initial Jobless Claims
Friday: Housing Starts
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QUOTE OF THE WEEK
“By the time a man is wise enough to watch his step, he’s too old to go anywhere.” Billy Crystal
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*Fixed Income…(Source: Bloomberg)
*Global Rebalancing…(Source: Reuters)
*Innovation and Transformation…(Source: CNBC)
*Great American Companies…(Source: CNBC)
*High Rates…(Source: Financial Times)
*Cashing In…(Source: CNN.com)