Morning Brew Daily Shaky Housing Market Hurting Lowe’s & Gold Has Never Been More Valuable
8 snips
Aug 21, 2024 The struggles of the housing market are hitting Lowe's hard, alongside a shocking tragedy involving a sunken super yacht. Meanwhile, a legal battle looms for Disney over a wrongful death lawsuit. In the podcasting realm, Alex Cooper strikes a lucrative deal with SiriusXM, which sets the stage for fierce competition with Spotify. Gold prices soar to unprecedented heights, now valued at a million dollars. On a different note, fewer teens are driving these days, shifting their spending habits, while a beloved millennial video game makes a nostalgic return.
AI Snips
Chapters
Transcript
Episode notes
Housing Market Downturn
- Home improvement giants Lowe's and Home Depot report falling sales and a gloomy outlook.
- Homeowners, having renovated during COVID, are reluctant to start new projects with high-interest rates.
Broader Market Impact
- The housing market downturn affects not only Lowe's and Home Depot but also related industries like furniture and power tools.
- Companies like Wayfair, Stanley Black & Decker, and Floor & Decor are experiencing soft sales similar to the 2008 recession.
Superyacht Tragedy
- A superyacht sank off the coast of Sicily, likely due to a waterspout, with six missing people presumed dead.
- The yacht belonged to Mike Lynch, and the passengers were celebrating his acquittal in a fraud trial.