MARKET RECAP → Stocks closed higher to kick-off the final week of trading in 2023. The S&P 500 (VOO) is now within striking distance of its all-time high of 4,797 as the Santa Claus rally continues to propel a staggering year-end run. Bitcoin (BTC) cooled off a bit, falling ~3% on the day.
STANLEY’S CUP HALF FULL → ? Stanley transformed from a modest drinkware maker to a $750 million sensation, thanks to the Quencher, a 40-ounce cup that became a viral, color-splashed hit, reshaping the brand’s century-old legacy. This resurgence in popularity reaffirmed Stanley’s place in the market, proving that even after 110 years, a single product can redefine a brand’s trajectory.
HOME PRICES SURGE → ? In a twist that defies economic logic, October 2023 saw a 4.8% spike in U.S. home prices, with Detroit leading at 8.1%, despite mortgage rates doing their best impression of a rocket launch; experts hint at more surprises in the housing market. |
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| Sean Horgan Head of Investor Relations @ MoneyLion
$shorgan |
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? Quencher Quenches Sales Drought: Stanley, a century-old drinkware brand, found its golden goose in the Stanley Quencher, a 40-ounce insulated cup. Initially a sleeper hit, the Quencher’s popularity exploded, particularly among women, thanks to its practical design and a rainbow of color options. This surge in demand catapulted Stanley’s annual sales from a steady $70 million to a whopping $750 million by 2023.
? Colorful Collaboration and Viral Fame: Under President Terence Reilly’s leadership, Stanley embraced influencer marketing and social media, partnering with The Buy Guide and releasing the Quencher in over 100 colors. This strategy, combined with limited-edition drops and celebrity collaborations, turned the Quencher into a social media sensation and a fashion statement, with fans collecting multiple colors to match their daily outfits.
? Ripple Effect Across the Brand: The Quencher’s success had a halo effect on Stanley’s entire product line. The brand’s new and heritage products gained renewed interest, adopting the Quencher’s colorful and eye-catching design principles. This resurgence in popularity reaffirmed Stanley’s place in the market, proving that even after 110 years, a single product can redefine a brand’s trajectory. |
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OCTOBER HOME PRICES SURGE |
? Record Gains Defy Odds: In October 2023, home prices nationally soared by 4.8% compared to the previous year, outpacing September’s 4% rise. This marked the most robust annual gain of the year. Despite mortgage rates hitting a 20-year high of over 8% in October, home prices remained resilient, challenging economic gravity with their upward trajectory.
?️ City Highlights and Anomalies: The 10-city composite index jumped 5.7%, while the 20-city composite saw a 4.9% increase. Detroit led the charge with an 8.1% year-over-year price surge, followed by San Diego and New York with 7.2% and 7.1% respectively. Portland, Oregon, stood out as the lone city with a decline, witnessing a 0.6% drop in home prices.
? Future Outlook – A Mixed Bag: Brian Luke from S&P DJI noted that home prices rose even amidst soaring mortgage rates. However, with rates easing and the Federal Reserve’s more accommodating stance, homeowners might see further appreciation. CoreLogic’s chief economist, Selma Hepp, predicts a continued acceleration in home price appreciation this winter, with a potential slowdown next year. |
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Israel grants Intel $3.2 billion for new $25 billion chip plant, biggest ever company investment in country (CNBC)
Apple Watch import ban takes effect, company files appeal (Reuters)
Spot bitcoin ETF approval may be coming in January, experts say. Here’s what it means for investors (CNBC)
OpenAI Set to Be Second Most Valuable Startup, After SpaceX (AI Business) |
And if you want more, be sure to check out the MoneyLion blog for tips, hacks and all things money. (MoneyLife) |
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