Ryan Stancil,
Editor
Nov. 26, 2022
Since last week:
The holiday shopping season is officially in full swing, and money spent at retailers over the next month will paint a clear picture of how Americans feel about the economy.
1. Draining Retirement Accounts
According to a recent survey, 4 in 10 Americans don’t think they’ll be financially prepared to retire when the time comes. A large part of that is due to the fact that retirement account balances dropped 12% on average over the past year. The only way to avoid something like this is to take complete control over your own retirement planning.
2. Electric Delivery
Domino’s Pizza is set to operate one the largest electric vehicle fleets in the country. This is after it puts a planned 855 branded Chevy Bolts on the roads to deliver pizzas by the end of next year. While consumer interest in electric cars is growing, it is fleet purchases that will really drive up adoption rates. That’s why the companies that supply the lithium for the batteries will do very well.
3. Diablo Canyon Lives
The Biden Administration showed its continued commitment to clean energy when it gave $1 billion to Pacific Gas & Electric Co. to keep the Diablo Canyon nuclear power plant running. This follows a move by California Governor Gavin Newsome to keep the plant open beyond its scheduled shutdown date. The world is slowly coming around to the fact that we need nuclear in the future, and that’s why uranium is going to be one of the big investment trends of the next few years.
4. Crypto’s Troubles
The pain in the crypto sector continues to grow. Bitcoin and Ethereum are still sliding, and another exchange, Genesis, could go bankrupt if it doesn’t secure financing. It might seem like everything is lost in the crypto sector, but there is a way to navigate all of this.
What to Look For:
As we head into December, the grim economic prospects will likely carry on for the rest of the year while we continue to wait for a recession to be officially called. It’s time to continue investing defensively in light of that.
Ryan Stancil
Editor, Daily Profit Cycle