📈 Lego's Building Blocks To Success

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Federal Reserve Chair Jerome Powell's comments left investors spooked and running for the hills, causing the Dow Jones to plummet into negative territory for 2023. But fear not, the S&P and Nasdaq are still going strong for the year!

In earnings news, Lego reported a staggering 17% revenue jump, raking in a jaw-dropping $3.5 billion in just the first half of the year. Looks like those little plastic bricks are worth their weight in gold! But it's not all sunshine and rainbows in the corporate world. Adidas had a rough quarter, losing a whopping €724 million. What's to blame, you ask? A public dispute with none other than Kanye West.

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Markets

Dow closes 570 points lower, turns negative for 2023 as Powell ignites higher rate fears (4 minute read)
Federal Reserve Chair Jerome Powell made some comments that spooked investors, causing them to sell off their shares faster than a hot potato. The Dow Jones went down 1.72%, the S&P 500 lost 1.53% (it’s now below the 4,000 level, ouch), and the Nasdaq Composite dropped 1.25%. The 2-year Treasury yield jumped to its highest level since 2007 at a whopping 5%. Looks like we're in negative territory for 2023, but don't worry, the S&P and Nasdaq are still up for the year (phew!).

FTSE 100 starts in the red after Powell's hawkish tone (4 minute read)
The FTSE 100 and European stocks are taking a beating like a piñata at a birthday party, all because Fed chair Jerome Powell said they might have to raise rates more than expected. The FTSE 100 lost 0.29% and the CAC 40 in Paris was just hovering above the flatline. The DAX in Germany was the rebel of the group, climbing 0.12%. But poor old British insurance giant Admiral is getting the blame for dragging the FTSE down, after they slashed their full-year dividend.

Investing

Lego sales jump 17% in first half of 2022 (4 minute read)
Lego just announced a 17% revenue jump, making a whopping $3.5 billion in the first half of the year. It's no surprise that Lego Star Wars and Lego Harry Potter sets were a hit, because who doesn't love building their own mini Hogwarts or Millennium Falcon? CEO Niels Christiansen gives credit to Lego's wide variety of toys, appealing to kids and adults alike. And they're expanding their reach by opening 66 new shops around the world, including a big chunk in China. Looks like Lego continues to build their empire one brick at a time!

Adidas slips to operating loss in fourth quarter amid impact from Yeezy dispute (5 minute read)
Adidas had a bad quarter. They lost a whopping €724 million in the fourth quarter. Adidas noted that this was mostly due to their public dispute with rapper Ye (aka Kanye West) and it cost them big time. They had to say goodbye to the "Yeezy" line of products and it really hit them where it hurts - in North America. But hey, at least they only had a 1% decline in revenue. Silver lining, right?

Forget Bitcoin! I’d rather buy this high-yielding income stock (3 minute read)
Opting for the right dividend stocks may provide you with lifelong capital growth and, most importantly, a source of income. abrdn (LSE: ABRDN), a global asset manager with a strong UK presence and operations in Europe, Asia-Pacific, and North America, has piqued The Motley Fool’s interest due to its diversification - join them in their deep dive of this stock.

Money

What Happens if You Don't Pay Your Taxes? (5 minute read)
Oh boy, it looks like a whole bunch of Americans owe the IRS a boatload of cash - we're talking a whopping $114 billion here! And if you're one of those folks and decide not to pay up, well, let's just say things might not be getting better. You might have a tax problem, but ignoring it will only make it worse. So here's a little guide to what could happen if you don't pony up the dough to the tax man.

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