🥫 Kraft cuts it out

…and Tesla shares the green juice [Disclosures](   Crafty price moves (Kevork Djansezian/Getty Images)   Last Week’s Market Moves   Dow Jones 33,827 (-0.13%) S&P 500 4,079 (-0.28%) Nasdaq 11,787 (+0.59%) Bitcoin $24,564 (+13.57%) Dow Jones 33,827 (-0.13%) S&P 500 4,079 (-0.28%) Nasdaq 11,787 (+0.59%) Bitcoin $24,564 (+13.57%) Hey Snackers, It’s not the destination, it’s the journey — but try telling that to these passengers who spent 16 hours on a plane, only to end up [back]( at the same New Zealand airport. US indexes were mixed last week as investors worried that new inflation data and strong labor #s could lead to prolonged rate hikes (prices aren’t cooling as fast as hoped). Meanwhile, oil prices fell while US Treasury bond yields soared. Btw... Do you want to start getting Snacks daily? Or prefer to unsubscribe? Manage your subscription preferences [here](. Fork Kraft Heinz puts the brakes on price hikes as grocers battle for inflation-weary shoppers Done playing ketchup… Last week Kraft Heinz [said]( it would pause its price hikes, noting that 90% of its planned increases were already in effect. The biz behind kitchen staples like Oscar Mayer wieners and Kraft Mac & Cheese grew its sales10% last quarter as it jacked prices by 15% last year. Price hikes have also helped big foodies like Pepsi, McDonald's, and Coke rake in higher profits. But as inflation starts to cool, some grocery giants are pushing back for fear of losing customers: - Smallstart: Walmart, America’s largest grocer, is reportedly telling some suppliers price hikes are a nonstarter (and is promoting its cheaper private labels). Its earnings today could shed more light on its pricing plans. - Bowl foods: Amazon-owned Whole Foods said it lowered prices on cereal and bread, and that it'll focus on discounts this year. It also reportedly asked big suppliers to lower their prices. Two price roads diverged… in a Jell-O wood. While Kraft, Pepsi, and Slim Jim maker Conagra said they’d ease off on price increases, others are taking the hike road. Nestlé, the world’s largest food company, said last week that it's still on the hiking path. It raised prices 8% last year, but said that wasn't enough to offset surging costs. Meanwhile, Unilever (picture: Hellman's mayo, Ben & Jerry's), said earlier this month that it'd keep upping prices this year. THE TAKEAWAY The little guy can win when giants fight… While inflation's slowing in the goods and services sector, food has been sticky. Last week's consumer-price report showed that food inflation actually accelerated from December to January. It’s early innings, but if grocers and food giants start battling for customers by lowering prices (or at least\ not hiking them) that could cool food inflation. Consumers want to see food prices fall, but they’re expected to jump another 7% this year. Events Coming up this week Chinese tech on deck… Alibaba (the Amazon of China) and Baidu (the Google of China) are set to report. Last year China’s economic growth sagged to one of its worst levels on record as its zero-Covid policy and lockdowns crushed production. After China reopened for business this year, its tech stocks have rallied in hopes of a rebound. While last year’s #s might not be stellar, earnings forecasts could be more upbeat (especially as regulatory crackdowns cool). Both Alibaba and Baidu are planning ChatGPT-style AI tools, which could also rev growth. Bubbles & bench presses… Keurig Dr Pepper, the beverage icon behind K-Cups, Snapple, 7UP, and (of course) Dr Pepper reports Thursday, and analysts expect refreshing results. Last quarter, KDP's sales jumped 11% as people splurged on inflated bevvies. Rivals Pepsi and Coke untapped strong earnings this month. While the overall soda market has been flat, demand for Dr Pepper soda has spiked. And KDP might have another winner in its fridge: it recently took a 30% stake in energy-drink maker Nutrabolt, which expects record sales this year. Zoom Out Stories we’re watching Green juice… The White House [announced]( that Tesla would open up at least 7.5K of its US charging stations to non-Tesla EVs by the end of next year. Right now, Tesla’s US charging network — the country’s second largest — is compatible only with Teslas. Tesla might lose its exclusivity edge, but it would qualify for a share of billions in federal funding for building a national network. The Biden admin wants 500K+ EV chargers on US roads by 2030, and it also secured commitments from GM, Ford, ChargePoint, and others with charging networks. Ballooning tensions… After the US shot down a Chinese surveillance balloon, relations between the world’s two largest economies have worsened. Last week China sanctioned US defense contractors Lockheed Martin and Raytheon over weapons sales to Taiwan. Earlier, the US barred Chinese companies that it said were tied to the balloon incident. China is one of the US’s largest trade partners, but relations are at the worst level in decades and could get worse. President Biden plans to talk with China’s President Xi to “get to the bottom” of things. ICYMI Last week's highlights - [#ad]( Uber and Lyft are seeing their ad businesses boom (think: an in-app Expedia ad en route to JFK). As companies like Uber, CVS, and Kroger capitalize on customer data to sell targeted ads, Google and Meta are losing market share. - [Hasno]( Hasbro, the toy titan behind Monopoly, Jenga, and Dungeons & Dragons, reported bummer earnings as holiday toy sales slumped. But fantasy card game “Magic: The Gathering” became its first billion-dollar brand. - [Shaky]( New York regulators ordered the third-largest stablecoin to wind down, which could spell trouble for its brand partner, Binance (aka: the world’s largest crypto exchange) as investors ditch the coin. What else we're Snackin' - [Lit]( As recreational-weed legalization spreads, some hotels are launching cannabis-infused amenities to get in on the buzz. Picture: on-call “budtenders” and smoker-friendly rooms with extra air filters. - [To go]( Remote work is costing Manhattan $12B+ a year as residents cut back on weekly happy hours and $25 salads. On the plus side: Manhattanites are saving an average $4.6K/year by kicking it at home. - [Jet]( The US is losing its luster for the rich as millionaires start to chase the American Dream in other countries. Last year the # of high-net-worth people entering the US tanked 86% from prepandemic highs. Want your Snacks daily? The Daily Newsletter Get fresh takes on financial news every week day. Try a sample: 💰 [Ride-hail ad sales]( • Feb 17, 2023 ⚡ [Tesla gets less exclusive]( • Feb 16, 2023 🏖️ [Marriott’s room boom]( • Feb 15, 2023 [Subscribe to the Daily]( Snack Fact Of the Day In 1870, Hiram Rhodes Revels became the first Black American to serve in Congress [Read more]( This Week - Monday: US markets closed for Presidents’ Day - Tuesday: Existing-home sales. Earnings expected from Walmart, Home Depot, Coinbase, Molson Coors, and Palo Alto Networks - Wednesday: Earnings expected from Nvidia, Baidu, Wingstop, TJX, Garmin, Wix, eBay, and Etsy - Thursday: Initial jobless claims. Earnings expected from Alibaba, Booking, Domino’s, Papa John’s, Moderna, Planet Fitness, Wayfair, Bath & Body Works, Warner Bros. Discovery, and Keurig Dr Pepper - Friday: One year since Russia invaded Ukraine. Earnings expected from Cinemark Authors of this Snacks own shares: of Amazon, CVS, Google, GM, Molson Coors, Tesla, Uber, and Walmart ID: 2748030 Robinhood Snacks newsletters reflect the opinions of only the authors who are associated persons of Robinhood Financial LLC (Member [SIPC]( and do not reflect the views of Robinhood Markets, Inc. or any of its subsidiaries or affiliates. They are for informational purposes only, and are not a recommendation of an investment strategy or to buy or sell any security, digital asset (cryptocurrency, etc) in any account. They are also not research reports and are not intended to serve as the basis for any investment decision. Any third-party information provided therein does not reflect the views of Robinhood Markets, Inc., Robinhood Financial LLC, or any of their subsidiaries or affiliates. All investments involve risk including the loss of principal and past performance does not guarantee future results. [Robinhood Terms and Conditions]( • [Disclosure Library]( • [Our Editorial Principles]( • [Contact Us]( • [FAQ]( [Manage Your Subscription Preferences]( To unsubscribe from all commercial emails, click [here](