Jeepers creepers

Taco Bell was crowned as the fastest drive-thru for the fourth year in a row. But that Crunchwrap Supreme speed comes with a caveat: it also had the highest percentage of wrong orders. 

Stocks barely rose yesterday as turmoil in the Middle East weighed on investors. Private companies added more jobs than expected last month, curbing bets on a big rate cut.

🎙️Now hear this: We just dropped the first episode of our new weekly podcast, “Snacks Mix.” Tune in on Spotify or Apple Podcasts to get fresh takes on the port strike, China’s big rally, and more market-moving news.

In Jeep doo-doo… Dodge maker Stellantis needs a tow. The company — which also owns Jeep, Chrysler, and Ram, among others — sold 20% fewer cars in the US than last year. That’s expected to be the worst third-quarter result among major automakers and continues a yearslong sales slump for Stellantis. Its US deliveries were already down 16% in the first half of the year, and last year it was the only major American car company to report falling sales.

Car-industry wrap… Analysts expect that US new-vehicle sales fell about 2% last quarter, as consumers balked at high prices. GM’s US sales dipped 2%, while Toyota’s fell 6%. Ford’s sales ticked up, barely. But EVs were a bright spot for carmakers including GM and Ford, and yesterday Tesla reported its first growth in deliveries since last year.

Sticker shock is sticking… The average new ride in the US was $44K last month, down 3% year over year. But that’s still much higher than before the pandemic (at the end of 2019, new vehicles cost about $34K). Car costs have driven up demand for leases, which made up a quarter of new sales in Q3. Used-car sales are up, too, as folks steer clear of shiny new whips. 

Sifting through the wreckage… Hurricane Helene made landfall in Florida last Thursday, and the storm’s destruction is only starting to come into focus. As of yesterday there were 183 confirmed deaths, and estimates put economic losses at up to $110B. And while Helene’s damage has been widespread, severe flooding in the small town of Spruce Pine, North Carolina, has affected one unexpected industry: semiconductors. 

Major miner problem… Sibelco and the Quartz Corp., high-purity-quartz mine operators in Spruce Pine, said they shut down ahead of Helene and were unsure when they’d reopen. That could create a supply problem for the tech industry, which has been racing to scoop up chips. In July alone, global semiconductor industry sales hit $51.3B — up nearly 19% on the year. Before Helene, the quartz-mining business was booming along with demand for AI chips. Last year Sibelco announced a $200M investment to double its mining capacity in the town. 

Chokepoints can become breaking points… With the semiconductor industry relying on Spruce Pine’s quartz mines, the shutdown could affect the entire tech industry. It’s happened before: in 2008, a fire at a Spruce Pine quartz refinery disrupted the global supply. At least one expert said consumers could see the price of electronics pop after Helene.

Uncharted: America’s most visited news website is trialing a paywall for some users starting this month. Which publisher is it? (Answer here.) 

Regulators could potentially lose the CAT, their main tool for monitoring markets. Read more.

500 Starbucks stores — or 3% of its US locations — have unionized 

Authors of this Snacks own shares of Apple, GM, Microsoft, Nvidia, Tesla, and Yum Brands 

Advertiser's disclosures:

¹ Past performance is no guarantee of future results. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns.

This is a paid advertisement for EnergyX’s Regulation A+ Offering. Please read the offering circular and related risks at invest.energyx.com.

DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck.

Was this email forwarded to you? Love what you’re reading?
Don’t miss out on future stories — subscribe to Snacks and get your daily dose of financial news straight to your inbox. 

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more