Stock markets dropped again this week – Stock markets, after posting historic gains in the first seven months of the year, stalled in August. While some of the selling is simply investors that feel stocks have become overvalued and are taking profits, there may be other structural problems in the economy emerging. Bond yields and mortgage rates, which were dropping on positive inflation news, have risen since the U.S. credit rating was downgraded by Fitch three weeks ago. They cited the ballooning national debt, an unwillingness to cut spending, and political uncertainty. This led to less demand for U.S. treasury bonds. Bond yields hit a 16 -year high on Thursday. Mortgage rates have hit their highest rates since 2002 this week. The Dow Jones Industrial Average closed the week at 34,500.66, down 2.2% from 35,281.40 last week. It is up 4.1% year-to-date. The S&P 500 closed the week at 4,369.71, down 2.1% from 4,464.05 last week.  It is up 13.8% year-to-date. The Nasdaq closed the week at 13,290.78, down 2.6% from 13,644.85 last week. It is up 27% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.26%, up from 4.16% last week. The 30-year treasury bond yield ended the week at 4.38%, up from 4.27% last week. We watch bond yields because mortgage rates follow bond yields.

Mortgage rates – The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of August 17, 2023, were as follows: The 30-year fixed mortgage rate was 7.09%, up from 6.91% last week. The 15-year fixed was 6.46%, up from 6.34% last week.

California existing-home sales – The California Association of Realtors reported that existing–home sales totaled 269,180 on a seasonally adjusted annualized basis in July. That marked the tenth straight month on sales dropping under 300,000 on an annualized basis. The number of sales is down approximately 40% from July 2021. Year-to-date the number of homes sold was down 30.3% from the first seven months of 2022. The statewide median price paid for a home in July was $832,390, up 0.2% from $830,870 last July. There was a 2.5-month supply of single-family homes for sale in July, down from a 3.1-month supply one year ago.

The graph below has sales data for Southern California by region. This was compiled by the California Association of Real Estate

 

Stock markets – Stock markets ended the week with mixed results. The Nasdaq’s incredible 2023 rally may be stalling as it posted its second consecutive week of losses, up 30% for the year. The July Consumer Price Index (CPI), the broadest gauge of inflation, was released on Thursday. It showed that consumer prices rose 3.2% in July from one year ago. While higher than June’s 3%, it marketed the second lowest inflation level in two years. The monthly increase in the inflation level was attributed to rising housing costs. The CPI peaked at 9.1% in June of 2022. The Core CPI, which excludes food and energy was 4.7% in July, its lowest year-over-year inflation level since October 2021. On Friday the Producer Price Index, which tracks wholesale prices ticked up more than expected. We also saw bond and mortgage rates increase further this week. Mortgage rates follow U.S. Treasury yields which have spiked over the last two weeks following the downgrade of U.S. debt by rating company Fitch.  The Dow Jones Industrial Average closed the week at 35,281.40, up 6.4% from 35,065.62 last week. It is up 5.8% year-to-date. The S&P 500 closed the week at 4,464.05, down 0.3% from 4,478.03 last week.  It is up 16.3% year-to-date. The Nasdaq closed the week at 13,644.85, down 1.9% from 13,909.24 last week. It is up 30.4% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 4.16%, up from 4.05% last week. The 30-year treasury bond yield ended the week at 4.27%, up from 4.21% last week. We watch bond yields because mortgage rates follow bond yields.

Mortgage rates – The Freddie Mac Primary Mortgage Survey reported that mortgage rates for the most popular loan products as of August 10, 2023, were as follows: The 30-year fixed mortgage rate was 6.96%, up from 6.90% last week. The 15-year fixed was 6.34%, up from 6.25% last week.

Real estate sales figures for July should be released at the end of next week by the California Association of Realtors and the National Association of Realtors. You can get the July home sale data now at RodeoRE.com.

Get ready for a weekend full of fun! Check out our round-up of the top events happening locally from August 11 through August 13 in your neighborhood! 

Los Angeles Weekend Events | August 11 – August 13

Sunday Afternoon Concerts in the Dome

When: Until October 8

Where: Mount Wilson Observatory

What: Experience classical and jazz music in a dome situated over a mile above Los Angeles at this unique mountaintop concert series. This summer, the Mount Wilson Observatory is presenting monthly musical events within the dome of its famed 100-inch Hooker telescope — a marvel that stood as the world’s largest telescope for a significant portion of the 20th century.

I Can See You (Taylor’s Version) at GRAMMY Museum

When: Until Sept 18

Where: The GRAMMY Museum

What: Capitalizing on the hype of the “Eras Tour”, the GRAMMY Museum is showcasing authentic Taylor Swift artifacts. Until September 18, visitors can view 11 outfits and two instruments from Swift’s “I Can See You (Taylor’s Version) (From the Vault)” video. The exhibit, including items from the Speak Now era sans the Joey King and Taylor Lautner heist, is housed in the fourth-floor theater gallery and is accessible with standard museum entry.

LA Art Book Fair

When: August 10 – August 13

Where: Little Tokyo

What: Returning in-person for the first time since 2019, Printed Matter’s L.A. Art Book Fair at the Geffen Contemporary at MOCA displays a plethora of artists’ books and unique publications from over 300 global presses. Attendees can explore a vast collection ranging from edgy paperbacks to elegant art catalogs. The event also features workshops and music in the plaza.

Westside and Beach Communities Weekend Events | August 11 – August 13

The Actors’ Gang Free Shakespeare in the Park

When: Until August 27

Where: Palms

What: The Actors’ Gang in Culver City revitalizes Shakespeare each summer with a lively, family-friendly production, often integrating playful themes. This year, “Much Ado About Nothing” transforms into a 45-minute “Winnie the Pooh” influenced play called “Much Ado About Pooh”, featuring A.A. Milne’s beloved characters. Catch the performance every weekend in August at Culver City’s Media Park.

Garden Concerts for Kids

When: Until August 20

Where: The Getty Center

What: Listen to kid-friendly performances during this summertime concert series in the Getty’s beautiful Central Garden. Picnic blankets are welcome, but note that lawn chairs are not.

Blacklist: The Hollywood Red Scare

When: May 4 – September 3

Where: Skirball Cultural Center

What: Today’s claims of censorship may seem dramatic, but years ago, the government truly enforced blacklisting in the entertainment industry due to perceived beliefs. This Skirball exhibit examines the 1947 House Un-American Activities Committee hearings, Hollywood’s response, and the blacklist’s impact, particularly on Jewish creatives and executives

 

San Fernando Valley Weekend Events | August 11 – August 13

NoHo Summer Nights

When: August 12

Where: North Hollywood

What: Check out this free screening of the Disney hit Encanto at NoHo Summer Nights Festival. This is a FREE, family-friendly event located at the North Hollywood Recreational Center.

Grand Views: The Immersive World of Panoramas

When: Glendale

Where: Until September 10 

What: Experience the enchanting union of L.A.’s unique Velaslavasay Panorama and Glendale’s Forest Lawn Museum as they present an exhibition of striking large-scale paintings. This immersive display is categorized into three sections: the early history of panoramas, crucifixion panoramas, and panoramas representing Hollywood and Los Angeles.

Street Food Cinema

When: Until August 26 

Where: Glendale

What: Combine dinner and a movie into one delightful package by trailing the food trucks. In the spring, summer, and fall, Street Food Cinema organizes a sequence of alfresco events featuring screenings of popular movies, an array of gourmet food trucks, and live performances from local bands. Some of these outdoor locales are dog-friendly, making it possible for your furry film fan to join the fun.

 

Conejo Valley Weekend Events | August 11 – August 13 

Music Under the Stars

When: August 12

Where: Olivas Adobe Ventura

What: Dine, dance & delight to great performances at Ventura’s most historic party site! Put on your dancing shoes and enjoy nine Saturday nights of summer magi, “dancing with the stars,” on a majestic wooden ballroom floor. Bring your own dinner or purchase it from a gourmet food truck on site.

Ventura County Fair

When: Until August 13

Where: Ventura County Fairgrounds

What: The Ventura County Fair is scheduled for August 2-13, 2023, at the Ventura County Fairgrounds, located at 10 W. Harbor Boulevard in Ventura. The fair offers a variety of attractions, including arts, crafts, food stalls, exhibits, interactive demonstrations, farm animals, a petting zoo, thrilling carnival rides, games, and live entertainment. 

Camarillo Old Town Friday Night Cruise Night

When: Until September 22

Where: Old Town Camarillo

What: The Camarillo Old Town Friday Night Cruise is back for 2023 on the 4th Friday of the month from April through September from 4-7 p.m. Drive down Ventura Boulevard with your classic car between 4 pm -7 pm. Try some local takeout by supporting the Camarillo Old Town eateries with their pre-order and/or take-out options.

Los Angeles is a food lover’s paradise, and one of the best ways to experience its culinary delights is through its vibrant food truck scene. From sizzling tacos to gourmet burgers, LA’s food trucks offer a diverse array of mouthwatering flavors and creative dishes that will tantalize your taste buds. In this food blog, we’ll embark on a delicious journey to explore some of the best food trucks in Los Angeles, where you can satisfy your cravings and indulge in the city’s culinary treasures on wheels.

Lettuce Feast

Initially launched as a blog for sharing vegan recipes, Lettuce Feast soon blossomed into a renowned food truck. Owners Willie and Eva are passionate about delivering scrumptious vegan comfort food that demonstrates how delectable plant-based cuisine can be. One taste of their offerings might just inspire you to embrace a meat-free lifestyle.

Kogi BBQ

Korean-Mexican fusion is the name of the game at Kogi BBQ, a legendary food truck that has captured the hearts and taste buds of Angelenos. Chef Roy Choi’s imaginative menu features favorites like the iconic short rib tacos and the flavorful kimchi quesadillas. The bold and savory flavors combined with the perfect balance of textures make Kogi BBQ a must-visit food truck for an unforgettable gastronomic experience.

Mariscos Jalisco

If you’re a seafood lover, Mariscos Jalisco is a food truck you can’t miss. This family-owned truck serves up some of the best seafood dishes in LA, with a particular focus on their signature shrimp tacos. Prepared in the style of the coastal state of Jalisco, these crispy tacos filled with succulent shrimp and topped with fresh salsa are a true delight. Be prepared to wait in line, but trust us, it’s worth it.

The Grilled Cheese Truck

For a comfort food fix on the go, The Grilled Cheese Truck is a must-visit. Indulge in gooey, cheesy goodness with their wide selection of grilled cheese sandwiches. With adventurous options like the mac ‘n’ cheese melt, these handheld delights will satisfy your cravings and warm your soul. Don’t forget to pair your sandwich with a side of tomato soup for the ultimate comfort combo.

Leo’s Taco Truck

No exploration of LA’s food truck scene is complete without Leo’s Taco Truck. Known for their flavorful al pastor tacos, Leo’s Taco Truck grills marinated pork on a spit. The tacos are served with fresh toppings and warm tortillas. The juicy and tender meat is delicious. Combined with the vibrant flavors of cilantro, onions, and salsa creates, it’s a taco experience not to be missed!

Ben Y Ana Hibachi

Y Ana Hibachi has made a name for itself with its distinctive Japanese dishes and Teppanyaki grill. Their commitment to using fresh ingredients and offering a variety of delectable tastes ensures that every meal is satisfying. 

With so much buzz in the world of technology, it can be tough to keep up. Luckily we have you covered with this week’s round-up of the top headlines happening in tech and media from around the world. From MAX to Mario Bros and more, read on and stay connected!

Google Makes National Park-Going Easier with Latest Update

Going to the National Parks just got easier. Google has recently updated its Maps app to make national park visits easier to navigate for users. The update includes accurate trail information, restroom locations, and accessibility features for over 100 US national parks. By partnering with the National Park Service, Google aims to enhance the outdoor experience for visitors and encourage more people to explore nature. This new update is part of Google’s ongoing commitment to making Maps more helpful and inclusive for everyone, regardless of their abilities or interests.

Snapchat Lenses Land on Microsoft Teams

Microsoft Teams is introducing a new feature that allows users to access Snapchat lenses during video calls, adding an element of fun and creativity to virtual meetings. The integration is a result of a partnership between Microsoft and Snap, enabling the use of Snap Camera to apply various filters and lenses. The feature aims to make online meetings more engaging and interactive, allowing users to express themselves in different ways. Microsoft’s integration of Snapchat lenses is a step towards making the virtual meeting experience more entertaining while maintaining a professional environment.

Google TV Adds Over 800 Free Channels to Live Guide

Google TV is set to receive a significant update that will introduce a new Live Guide feature, allowing users to easily access live TV channels from free streaming services like Tubi, Plex, and Redbox. This update aims to streamline the browsing experience, making it simpler for users to find and watch live content without switching between multiple apps. The Live Guide will display a traditional grid-like TV guide interface, showcasing the available channels and currently playing shows. Google’s move to integrate live content from various sources into a single, unified interface highlights its efforts to improve user experience and attract more viewers to its platform.

Warner Bros. Discovery Debut’s MAX – The New Title for HBO Max

A new name has been announced for HBO Max. Warner Bros. Discovery will aim to offer a more extensive content library. Likewise, this will include a wider range of genres under MAX, the rebranded version of HBO Max. The rebranded platform will include titles from both Warner Bros. and Discovery’s vast collection. Of course, subscribers will have access to hit shows, movies, and documentaries under one roof. The merger between the two media giants is intended to create a more competitive streaming service in the face of rivals such as Netflix and Disney+. By consolidating its content libraries, Warner Bros. Discovery hopes to attract a larger audience and enhance the overall viewing experience for subscribers.

“It’s Mario”! – In the Library of Congress

The iconic Super Mario Bros. theme music has been added to the US Library of Congress. Likewise, the honor underscores the game’s cultural significance and impact on the gaming industry. Composed by Koji Kondo, the memorable tune is among 25 other recordings inducted into the National Recording Registry. The registry is a collection that preserves recordings with historical, cultural, or aesthetic importance. The Super Mario theme music has had a lasting influence on video game music composition and design. Its addition to the registry highlights the recognition of video games as a prominent part of modern culture and entertainment.

With New Employer Badges LinkedIn Gives Users the Verified Treatment

LinkedIn is introducing a new verification badge system. The verification system is designed to help users easily identify and verify the authenticity of profiles on the platform. This system aims to prevent impersonation and ensure that users are connecting with legitimate professionals. Unlike other social media platforms obtaining verification on LinkedIn will not require payment. Users can verify their workplace simply by using a company-issued email address or through Microsoft Entra. To verify personal identity, LinkedIn has collaborated with CLEAR. Likewise, By utilizing CLEAR and providing a US government-issued ID and US phone number, users can showcase their verified status on their LinkedIn profile. LinkedIn hopes to enhance trust and safety on the platform with this new feature.

Dive into the week’s tech news as we get ready to close out 2022! From Amazon Drones to LG at CES and more, we have you covered! Read on for the major headlines happening in the world of tech, media, and science. 

Amazon Begins Delivering Packages Via Drone in California and Texas

Prime Air, aka Amazon, is revolutionizing the delivery service industry with a new drones-only system for getting your parcels to you in record time. Already implemented in California and Texas, selected customers have benefited from having orders dropped off quickly within their backyards. All of this has been made possible by Amazon’s commitment to safe aerial navigation – both now and as they gradually expand services across more locations nationwide! In 2020, Amazon achieved a major milestone in drone delivery when its application to the Federal Aviation Administration (FAA) was approved. The company filed Final Environmental Assessment documents for two different rural and suburban locations: Lockeford, California – 50 miles southeast of Sacramento with an estimated population of 3,500; and College Station, Texas –100 miles northwest of Houston, known best as home to renowned Texas A&M University. Residents can sign up now, while other customers will soon have access via notice.

New Samsung Fridge features 32-Inch Touch Screen Display

Samsung has unveiled its latest refrigerator addition to the Bespoke Refrigerator Family Hub Plus range. Featuring a massive 32-inch touchscreen display, this model allows users to control SmartThings compatible devices and view Google Photos images or watch videos in high-definition clarity. The Samsung TV Plus service enables access to 190 US channels or 80 South Korean ones for endless entertainment options at no additional cost – making it truly an ideal appliance for modern homes! Likewise, with its vertical orientation, this display is perfect for catching up on social media videos – from TikTok to YouTube Shorts. Plus, you can multitask with convenience thanks to its picture-in-picture (PIP) mode that will play the video in an always visible floating window while leaving your screen free and clear.

iPad Mini Potentially A Year Away from Consumer Market

Apple is giving its beloved iPad Mini a processor upgrade, according to respected analyst Ming-Chi Kuo. Scheduled for release within the next two years, this 8.3-inch features Apple’s A15 Bionic chip with optional 5G connectivity! Thanks to the power of its unique updated processor, users can enjoy enhanced performance on this classic tablet device. It is likely the iPad Mini will receive a chip upgrade in two years. Additionally, Apple may look to unveil new hardware as soon as fall 2023. Potential upgrades range from an A16 to an M-series processor similar to those used by other iPads. Of course, this makes for exciting advances within the model line!

Flat Smartphone Camera Module by LG to be Unveiled at CES

LG Innotek is set to debut an innovative camera module at CES that could revolutionize the photo capabilities of smartphones. This micro component merges optical-zoom technology seen in DSLR cameras. It does so through a sleek and slim design, granting zoom magnifications without relying on digital zooms. LG is making an ambitious move to create space within smartphones. In addition, they are also seeking to improve battery efficiency by combining multiple optical-zoom options into a single module. The thickness of the module has been reduced in order to remove any camera bumps. Additionally, LG is partnering up with Qualcomm for optimal software designs as well as joint marketing strategies!

This week, we are talking about all things tech and zero things crypto or Twitter related (you’re welcome). From the successful launch of Artemis 1 to major changes in the AR world and more, we have you covered on major tech headlines. Read on below and stay connected!

Amazon Launches Virtual Care Center

In conjunction with One Medical, Amazon has officially launched its virtual care clinic. The clinic is available in 32 states and provides a message-based service for care. The services provided are for more than 20 everyday medical issues, as per Amazon’s announcement this week. Those seeking care can do so by visiting the Amazon Clinic site, selecting your ailment, and filling out an intake form. While the service does not take insurance, it is FSA- and HSA-eligible. The Amazon Clinic telehealth physicians will be able to treat and prescribe medication for acne, asthma refills, birth control, cold sores, and more. Amazon hopes to expand to additional states within the next couple of months.

NASA Begins Historic Return to the Moon with Artemis 1 Launch

A return to the moon is one step closer for NASA with this week’s launch of the most powerful rocket built to date. Artemis 1 launched this past Wednesday, lifting off from Launch Complex 39B at Kennedy Space Center. “We are all part of something incredibly special,” launch director Charlie Blackwell-Thompson said just before getting her tie cut — a lovely NASA tradition that humbly marks the first solo flight of a deserving team member. “The first launch of Artemis. The first step in returning our country to the moon — and on [to] Mars.” The launch of Artemis 1 comes after years of delays and setbacks. With the success of the mission would come the groundwork to place astronauts back on the rocky surface and, eventually, one day, on the red sand of Mars. 

Qualcomm’s AR Chips Point to a Next Generation of Smart Glasses

With VR headset demand on the rise, Qualcomm has hinted that the next big product wave may be AR glasses. The company’s recent event was focused on chips. Introduced the newest Snapdragon phone processors and a new line of AR-optimized eyewear. The next generation of smart glasses will likely arrive between 2023 and 2025. Likewise, features for the tech-forward spectacles include eye tracking, hand tracking, and wireless streaming to phones or from the cloud. Qualcomm’s shared a vast list of big tech companies who will be on board to utilize the AR2 chip. These companies include Lenovo, LG, Niantic, NReal, Oppo, Pico, NTT Qonoq, Rokid, Sharp, TCL, Vuzix, and Mi.

10-Minute Flights to the Airport Are the Way Forward with Archer Air Taxi

Imagine breezing over traffic, above the clouds, and arriving right o time for your flight. Archer Aviation is seeking to make this a reality, starting off in New York. The company has unveiled its electric aircraft that would take passengers from downtown Manhattan to Newark, New Jersey’s Liberty International Airport. The company aims to launch the service by 2025 with 10-minute flights starting at $100 each way. The San Jose-based Archer is among several companies building a new type of aircraft called an EVTOL. The acronym is short for electric vertical takeoff and landing. The company hopes to change urban travel while reducing emissions. “Over time, as we scale urban air mobility and you see lots of these planes out there, we can have a significant impact on reducing emissions,” CEO Adam Goldstein.

Airbnb Anti-Party Technology Goes Live

Consider party-going at Airbnb a thing of the past. The vacation rental platform has officially launched its reservation screening technology this week. The new system has already been put into place in the US, Canada, and Australia, and the company plans to expand the technology worldwide in spring 2023. The “proprietary reservation screening technology” works by evaluating a number of factors, such as the history of positive reviews and the length of time a guest has been on the platform. In addition, it also checks the length of stay, distance to listing, and whether the guest made a booking for a weekend or weekday, an Airbnb spokesperson said. Airbnb has also expanded its guest identity verification. It may request a customer’s legal name, address, phone number, government ID, or selfie, Airbnb said. This applies to booking guests traveling to the top 35 countries and regions on the app, and it will expand worldwide in the spring as well.

Lab-Grown Meat Gets FDA Approval 

The future of lab-grown meat is progressing forward. The FDA has given the green light to Upside Food and its production of chicken made from real animal cells grown in bioreactors. The approval marks a major milestone for the cultivated meat industry after years of venture capital funding and small-scale efforts. Upside’s production facilities still require a grant of inspection from the United States Department of Agriculture. In addition, the food itself will need a mark of inspection before it can enter the US market. These two steps are likely to be completed much more quickly. “It’s the moment we’ve been working toward for the past, almost seven years now,” says Uma Valeti, Upside’s CEO. “Opening up the US market is what every company in the world is trying to do.”