Intel Slashes Dividend 66% to Lowest Payout in 16 Years (3 min read)
Intel has cut its dividend payment to the lowest level in 16 years in order to save money and concentrate on a turnaround plan. The company has reduced its quarterly distribution to 12.5 cents a share, payable in June. Intel's previous quarterly dividend was 36.5 cents and was expected to cost more than $6 billion in 2023. Intel's CEO, Pat Gelsinger, said the company remains committed to increasing the dividend again in the future when circumstances allow. Intel shares were up less than 1% on Wednesday.
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Amazon closes deal to buy primary care provider One Medical (3 min read)
Amazon has closed its $3.9 billion deal for primary care provider One Medical. The acquisition gives Amazon access to over 200 medical offices in 26 markets and around 815,000 members, as part of its wider plan to expand into healthcare. The purchase marks CEO Andy Jassy's first major deal since taking over from founder Jeff Bezos in July 2021. The deal was being investigated by the Federal Trade Commission but has since been cleared.
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Fed minutes: 'Ongoing' rate hikes needed, 2 officials wanted 50-point hike (3 min read)
Fed officials remain committed to raising interest rates to combat inflation, according to minutes from the latest policy meeting. They feel a restrictive policy stance is necessary until there is confidence that inflation is on a sustained downward path to 2%. Inflation was still unacceptably high, and more evidence of progress would be required to give them the confidence that it was coming down. Some members even favored a 0.5% rate increase at the last meeting over concerns that financial conditions have eased and may require more rate hikes than thought.
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S&P 500 notches fourth day of losses after Fed minutes reaffirm tough stance on inflation (2 min read)
US stocks edged lower on Wednesday as the market analyzed the Fed’s minutes to see how the central bank will tackle inflation. The overall message from the minutes is that inflation remains well above its 2% target and ongoing rate hikes are necessary to bring it down, which spooked investors and pushed the S&P 500 to fall for the fourth day. The Dow and S&P 500 fell another 0.26% and 0.16%, respectively. However, the Nasdaq rose slightly by 0.13% before the market closed.
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How to Read an ETF Fact Sheet: A Beginner's Guide (5 min read)
A fact sheet is a document that provides detailed information about an ETF such as its investment objective, historical performance, top holdings, expenses, and potential risks. The information is often useful in helping investors to determine whether an ETF aligns with their financial goals and risk tolerance. This article from etf.com shared tips on what to look out for in a fact sheet and how to use it to analyze an ETF.
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3 Dividend ETFs I Am Greedily Buying In 2023 (7 min read)
As the Fed anticipates rates to go higher, growth equities become less valuable because rising rates decrease the value of rising cash flows. This article, written by a financial journalist, suggests that it might be smarter to buy value/dividend ETFs in 2023 for this reason. He recommends Vanguard FTSE All-World ex-US ETF (VEU), Vanguard Financials ETF (VFH), and Global X MSCI China Financials ETF (CHIX). More on the rationales behind each ETF is available in the article.
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That's it for today! You can reply to this email if you have any comments or feedback.
Thanks,
Thomas
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