Pink's Bottom Line on Media, Money and Sports
Trust in political news sources, the nation's services sector and the NBA Finals
In today’s newsletter, I discuss trust in political news sources, the nation’s services sector and the NBA Finals.
MEDIA: Trust in Political News Sources
A large majority of Americans say they trust their main news source for its political news coverage, according to a recent survey by the Pew Research Center.
According to that survey, 83% say that they trust their main source of political news including 38% who trust that source “a great deal.”
Pink's Bottom LineThose trust numbers differ, though, based on the political leanings of those surveyed. According to Pew, among Democrats, 90% said they trust their main news source for political news compared to only 77% of Republicans who said the same.
Interestingly, 47% of Democrats surveyed said they trust that main source “a great deal,” compared to only 30% of Republicans who said the same, according to Pew.
It appears, then, that while Americans mostly do trust their main news source for political news, that trust isn’t across the board, particularly among those surveyed who said they were Republican.
MONEY: Services Sector
The nation’s services sector grew again in June but did so at a slower pace than in May, according to the Services ISM report released earlier today.
(Note: A Services PMI reading greater than 49.2% indicates an expanding economic environment while a reading below 49.2% indicates a contracting one.)
Pink's Bottom LineWhile the Services PMI does indicate expanding economic activity in this country, several areas in particular appear to be of concern.
Employment looks to be an issue as it appears companies aren’t able to hire all of the workers that they need.
Additionally, there appear to be shortages of supplies of materials, which is likely leading to higher prices.
If these issues aren’t corrected, it could constrain the overall economic recovery in the United States.
SPORTS: NBA Finals
The NBA Finals begin tonight with the Phoenix Suns hosting the Milwaukee Bucks in a best-of-seven series.
Neither team had been expected to make it to the Finals — the Los Angeles Lakers and the Brooklyn Nets had been the favorites to play for the championship when the postseason began.
Pink's Bottom LineIt has been a remarkable run for Phoenix, led by superstar point guard, Chris Paul, shooting guard Devin Booker, and center Deandre Ayton.
For Milwaukee, Giannis Antetokounmpo was has played outstanding basketball in the postseason though he missed some of the Western Conference Finals due to a knee injury. Guards Khris Middleton and Jrue Holiday, though, picked up for Antetokounmpo in his absence.
Overall, I expect the reserves on Milwaukee to outplay the Phoenix bench, and as I expect Antetokounmpo to return to full strength for the Bucks in the Finals at some point, I am looking for Milwaukee to win the series four games to three over Phoenix and become NBA champions.
Jeremy Pink is currently COO of Geniecast, a leading virtual content and experience company. He is the former CEO of private-equity backed Broadcast Sports International where he helped lead the company to a successful sale and exit during his tenure there. He is also a former CNBC television executive in New York, London and Singapore.
The information contained in this communication is strictly for general informational and entertainment purposes and is not meant to be construed as financial, investment, tax, or legal advice. This communication is not a solicitation to buy or sell any securities. I am not a financial advisor or offering professional advice of any kind. Users should not act upon the content or information found within this communication without first seeking professional advice appropriate for their individual situation. Decisions based on information contained in this communication are the sole responsibility of the user, and use of this communication and its contents constitutes an explicit understanding and acceptance of the foregoing disclaimers.
(Newsletter Editor: Karina Pink)