Thursday, October 22 · thedime.news/issues/2026-10-22/

A rocket company's strong profits lifted stocks, and shook phone carriers

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U.S. stocks rose on Wednesday, and all four major indexes finished higher. The S&P 500 gained 0.6% and the Nasdaq gained 1.1%, pulling the S&P 500 closer to the record high it set earlier this month. According to the Associated Press, a much better profit report from SpaceX than analysts expected helped lift several other AI-related stocks, along with Tesla. Strong results from Capital One and other big companies also helped.

SpaceX matters to phone customers too. The company has said it may sell phone plans directly to consumers, which would compete with carriers like AT&T and Verizon. That worry helped push AT&T's stock down about 6% on Wednesday, even though its results beat forecasts. Today, the government reports weekly jobless claims at 8:30am ET. That's the number of people who filed for unemployment benefits last week. The last reading was about 206,000.

Your money: Small monthly bills add up

A recurring expense is a bill that comes back every month, like a phone plan, a streaming service or a music app. Because each charge is small, it's easy to stop noticing it. But the cost is the monthly price times 12, every year, for as long as you keep paying.

Here's the math. A $15 a month subscription costs $180 a year. Three of them cost $540 a year. Over four years of high school, that's $2,160, enough to cover many college textbooks or a good start on an emergency fund.

This is why companies compete so hard for your monthly payment, and why phone carriers worry about a new rival. You can use that. Once or twice a year, list everything you pay for monthly, cancel what you don't use, and ask whether a cheaper plan exists. Small cuts repeat every month.

Words to know

Write what each word means in your own words.

1. Recurring expense
2. Competition
3. Outlook

Questions

The story

1. In one sentence, what happened in the top story?
2. Why would investors sell a company that just had a good quarter?

Do the math

3. One $15-a-month subscription, paid all four years of high school. What's the total? Show your work.

Your turn

4. A music app costs $11 a month. What does it cost in a year? Over four years of high school?

Quiz

5. A student pays for three subscriptions at $15 a month each. About how much do they spend on them in one year? Circle one.
   1. $45
   2. $180
   3. $540
   4. $2,160

What do you think?

6. A rocket company might start selling phone plans. Would you switch carriers for a new company with a lower price? What would it have to offer to win you over? Answer in two or three sentences, and give a reason.