📈 Buffet Doubles Down On Apple!

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U.S. stock futures took a hit after the release of January's consumer price index, revealing that inflation was higher than expected. But hey, it's not all bad news (If you're a holder of Glencore) - The mining giant, is planning to return $7.1 billion to its shareholders after a record revenue year, all thanks to the surge in energy prices in 2022. At least someone's benefitting!

Warren Buffett's Berkshire Hathaway has made some moves in their stock portfolio. They reduced their holdings in Taiwan Semiconductor and US Bancorp, and trimmed their stake in Activision Blizzard. But don't worry, Berkshire's Apple holdings have increased, which could be a positive sign for the company's future.

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Markets

Stock futures fall Wednesday as investors process inflation data (1 minute read)The U.S. stock futures fell after the release of the consumer price index for January, which showed higher-than-expected inflation. The Dow closed lower by 156 points, while the S&P 500 remained relatively flat, and the Nasdaq Composite managed to bounce back from earlier losses and closed higher. The inflation data for January exceeded economists' estimates, which suggests a potentially longer battle for the Federal Reserve against rising prices.

US inflation eases again for seventh consecutive month (4 minute read)Good news and bad news from the Bureau of Labor Statistics. The bad news first: US inflation is still high, with an annual rate of 6.4% in January. But here's the good news: it's down from 9.1% last June and 6.5% in December. This fall in inflation has helped to ease the cost of living crisis that's hit everything from eggs and orange juice to rents and healthcare. However, there's still some work to be done as the rate is still way higher than the Federal Reserve's annual target of 2% inflation.

Gold prices muted as markets weigh mixed inflation reading (5 minute read) Let's talk about gold prices, shall we? They didn't really move much on Wednesday, thanks to some mixed inflation data for January. That's got some people feeling a bit uncertain about the U.S. economy and the path of monetary policy. And even the dollar didn't react much to the readings. Prices are holding steady near one-month lows, after the data showed that annualized U.S. consumer inflation fell less than expected in January. Spot Gold is flat at $1,854.66 an ounce, while Gold futures fell slightly to $1,864.75 an ounce

Investing

Glencore to return $7.1B to shareholders after surge in annual profit (5 minute read)Good news for shareholders of Glencore PLC (GLEN). The mining giant has had a record revenue year, thanks to the surge in energy prices in 2022. Commodity price movements were volatile, but they helped boost Glencore's earnings, despite the war in Ukraine and supply chain issues. The company's industrial division hit a record $27.3B, while its trading unit reported an all-time high adjusted core profit of $6.4B. Glencore plans to return a whopping $7.1 billion to its shareholders. That includes a $5.1B base distribution, a $500 million cash distribution, and $1.5B in buybacks for 2023.

Airbnb beats on profit and revenue, stock is up (4 minute read)Airbnb (ABNB) shares surged around 9% in extended trading Tuesday after it announced Q4 earnings that beat analysts' estimates on both the top and bottom lines. Earnings per share (EPS) came in at 48 cents, smashing the 25 cents expected by analysts, and revenue hit $1.9 billion, beating estimates of $1.86 billion. In its shareholder letter, the company revealed that it's experiencing strong demand in the early days of 2023.

Warren Buffett's Berkshire Hathaway topped up its huge Apple stake (5 minute read)Warren Buffett's Berkshire Hathaway recently made some changes to its stock portfolio, according to a filing with the Securities and Exchange Commission. The company reduced its holdings in Taiwan Semiconductor and US Bancorp, and trimmed its stake in Activision Blizzard. But on the bright side, Berkshire's Apple holdings increased, thanks to its acquisition of Alleghany. Berkshire now owns a whopping 895 million shares of the iPhone maker. They now own 5.8% of the whole company!

Money

The Average Net Worth For The Above Average Person (5 minute read)The Financial Samurai talks finances! To really get ahead, you need to outperform the average. Just because everyone else is up 20% in their investments, it doesn't necessarily mean you're getting richer too. In this post, he focuses on the average net worth for people who are above average. After all, our aim is to outperform the average AND enjoy a better life - right?

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