Investing

Stimulus talks stall; Walmart takes on Amazon: How today's headlines could affect your money

Stimulus talks appear stalled; Oracle emerges as the top contender for a U.S. partner for TikTok; and Walmart takes on Amazon. Here's how today's headlines could affect your money.

Walmart to test drone delivery.
Source: Walmart

Stimulus talks take a back seat; Oracle may be TikTok's new U.S. partner; and Walmart takes on Amazon in the drone wars. Here's how the headlines could affect your money.

A new stimulus looks less likely

The House of Representatives is back after summer recess, and the pressure is on to pass another Covid stimulus package. But Treasury Secretary Steven Mnuchin told "Squawk Box" that the government had bigger fish to fry, like making sure it can stay open. "The Speaker and I will be working on the CR [continuing resolution] this week," he said, "which is obviously a priority for us to make sure that we don't shut down the government."

On Thursday, the Republicans failed to advance their "skinny bill," which offered about $300 billion more in coronavirus relief, according to The Wall Street Journal — a third of their proposed amount from July and a far cry from the $3 trillion proposed by the HEROES Act, which passed the House back in June and never got a vote in the Senate. 

VIDEO3:4903:49
How to spend a stimulus check if you're unemployed

Video by Jason Armesto

TikTok may have a new U.S. partner

TikTok, the video-based social media app owned by the Chinese company ByteDance, looks set to have an American partner: The technology giant Oracle

The White House had imposed a September 20 deadline for ByteDance to find a U.S.-based operator; otherwise, the app would be banned by September 29. President Donald Trump had opposed allowing TikTok to operate in the U.S. with fully China-based operations, citing user privacy concerns.

Oracle shares jumped 8.79% in pre-market trading on the news while Microsoft, which had been expected to make this deal, dropped 0.4%.

Amazon and Walmart drone rivalry heats up

Walmart is partnering with Zipline to make on-demand drone deliveries of certain health and wellness products. Zipline builds drone aircrafts and until now was best known for its operations in Ghana and Rwanda.

Amazon received FAA approval for drones back in August. 

The drones are just one area where the big-box company and the online giant are going head-to-head. On Tuesday, Walmart will unveil Walmart+, its answer to Amazon Prime. A membership to Walmart+ will cost $98 a year, while a membership to Amazon Prime costs $119.

Words you may have heard: Pre-market trading

Pre-market trading refers to the Wall Street buying and selling that occurs from 4 a.m. to 9:30 a.m. Eastern Time; in other words, before the regular trading hours of 9:30 a.m. to 4 p.m. Eastern. Don't confuse pre-market trading with terms like "early trading" or "morning trading," which are informal terms with no standard start and stop times.

Although the daily news can have an impact on your wallet, remember to take a long-term outlook when it comes to decisions on spending, saving, and investing.

More from Grow: 

acorns+cnbcacorns cnbc

Join Acorns

GET STARTED

About Us

Learn More

Follow Us

All investments involve risk, including loss of principal. The contents presented herein are provided for general investment education and informational purposes only and do not constitute an offer to sell or a solicitation to buy any specific securities or engage in any particular investment strategy. Acorns is not engaged in rendering any tax, legal, or accounting advice. Please consult with a qualified professional for this type of advice.

Any references to past performance, regarding financial markets or otherwise, do not indicate or guarantee future results. Forward-looking statements, including without limitations investment outcomes and projections, are hypothetical and educational in nature. The results of any hypothetical projections can and may differ from actual investment results had the strategies been deployed in actual securities accounts. It is not possible to invest directly in an index.

Advisory services offered by Acorns Advisers, LLC (“Acorns Advisers”), an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). Brokerage and custody services are provided to clients of Acorns Advisers by Acorns Securities, LLC (“Acorns Securities”), a broker-dealer registered with the SEC and a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). Acorns Pay, LLC (“Acorns Pay”) manages Acorns’s demand deposit and other banking products in partnership with Lincoln Savings Bank, a bank chartered under the laws of Iowa and member FDIC. Acorns Advisers, Acorns Securities, and Acorns Pay are subsidiaries of Acorns Grow Incorporated (collectively “Acorns”). “Acorns,” the Acorns logo and “Invest the Change” are registered trademarks of Acorns Grow Incorporated. Copyright © 2019 Acorns and/or its affiliates.

NBCUniversal and Comcast Ventures are investors in Acorns Grow Incorporated.