Newsletter Jul 19, 2021

OPEC+ finally agreed to increase oil production as US gas prices are at a seven-year high. But will the deal effect what consumers pay at the pump?

3 things you must know

OPEC+ deal means more oil is on the way to global economy
The oil and energy sectors got some good news over the weekend as OPEC+ finally reached a deal to increase production by 400,000 barrels a month. The overdue move, which has been held up over a dispute between oil-rich neighbors Saudi Arabia and the United Arab Emirates, is expected to help ease gas prices in the US and globally.
After slashing production last year to adjust to decreased demand during the pandemic's peak, OPEC+ nations are eager to ramp up exports. The agreement ends a rare public blowup between the two allies with close royal ties as the UAE and Saudi Arabia look to position themselves for a global transition to renewable energy.
FIND OUT WHAT THE MOVE WILL MEAN FOR GAS PRICES

Volatile housing market showing signs of a looming crisis
The US housing industry faces a critical week with the release of several key indices as the American dream morphs into a nightmare for builders and buyers alike. Record-high prices are the results of increases in building costs and supplies as well as existing inventory shortages, creating a pinch for many Americans seeking shelter.
Figures on housing starts and building permits come out Monday, followed by a full week of mortgage applications, followed by a full week of mortgage rates, existing home sales and other figures that will paint a bigger picture of the current state of the housing market.
SEE WHY SOME ANALYSTS ANTICIPATE A HOUSING CRISIS

Apparel industry more immune to inflation than others
Rising inflation is considered a threat across all sectors of the US economy, but one industry may escape the worst of the impacts -- apparel. While gas, food and car prices may be putting a big strain on consumers, experts expect clothing companies to see a bump.
The reasons are twofold, according to industry experts: Following a difficult pandemic storm, apparel's modest 1.2% price increase in June was minor compared to other segments, and the continued reopening of the country means consumer are more likely to spend their money on clothing than other items. After months in sweat pants, Americans want to look good even if their budgets don't.
FIND OUT WHY APPAREL APPEARS TO OBEY ITS OWN RULES

Markets

DJIA	34,687.85	-0.86%
S&P 500	4,327.16	-0.75%
Nasdaq Composite	14,427.24	-0.80%
Japan: Nikkei 225	27,762.72	-0.86%
UK: FTSE 100	7,008.09	-0.06%
Crude Oil Futures	70.88	-1.30%
Gold Futures	1,816.90	0.10%
Yen	109.88	-0.18%
Euro	1.18	0.00%
* As of market close

Summer surge bringing back mask mandates

The pandemic's summer surge that gripped the nation this time last year is returning in the form of the Delta variant as the effort to vaccinate the vast majority of Americans has stalled. The rapidly spreading variant of the virus is raising calls for more mask mandates and mass inoculations.

While most Americans are clearly over the restrictions, particularly the vaccinated citizens who are ready to put the pandemic in the past, it's the unvaccinated half of the country that is fueling the summer sequel. Health officials are blaming social media for spreading misinformation when more than 99% of recent deaths and 96% of hospitalizations are unvaccinated.

WHY IS THE US FALLING SO FAR BEHIND IN VACCINATION RATES?

Bezos, Blue Origin crew count down to launch

It takes a certain amount of moxie to strap into a relatively new form of space travel and blast off into the wild blue yonder. It takes even more if you have 200 billion reasons to live like Jeff Bezos, who will launch into space Tuesday in his Blue Origin rocket alongside three crew members.

After stepping down two weeks ago as CEO of Amazon, the company he started in his garage and built into a trillion-dollar juggernaut, the 57-year-old Bezos may be going through a midlife crisis by leaving the planet that made him the richest person on it. But it takes a dreamer to build a bus-iness empire like his -- the kind of person who literally aims for the stars.

FIND OUT ABOUT THE THREE PEOPLE JOINING BEZOS IN SPACE

State of mind: Ranking the best places to live

Studies have longed ranked the states on livability based on a wide range of factors, such as crime rates, population density and economic factors. But the COVID pandemic and fallout from the 2020 election have redrawn the map, adding weight to health and voting rights to the equation.

In a recent study by CNBC that considered a wide range of factors, including new data stemming from states' COVID responses and changes to voting laws, the list saw some surprise departures from the traditional livability surveys. See how your state stacks up against the others.

DOES THE RED STATE/BLUE STATE DEBATE EFFECT LIVABILITY?