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| 📰 Market Headlines | TL;DR: The S&P 500 and Nasdaq continued their winning streaks yesterday while the Dow Jones gave some back. Bitcoin smashed through $36k on its way to $37k while precious metals slid. Fairytale ending: Disney beat earnings estimates yesterday with CEO Bob Iger saying “while we still have work to do, these efforts have allowed us to move beyond this period of fixing and begin building our businesses again." (Investing.com) A Mixed Bag for $CART: Instacart beat sales and EBITDA estimates but missed EPS in its first quarterly report since its IPO. The bulk of losses were due to stock-based compensation tied to going public. (Investors.com) Great Expectations: Stocks are getting punished more than usual for missing Wall Street estimates (Yahoo!) Squeezed: Bitcoin surged near $37k as ETF hopes squeezed out short sellers. Just under $50 million in liquidations occurred in a four-hour period during early Asian trading hours. (FX St) Shunned: Gold prices lingered near three-week lows on Thursday as safe-haven demand spurred by the Middle East conflict slowed. (Yahoo!) Chasing Fat Profits: Keen to compete with Wegovy and Ozempic, Eli Lily just got FDA approval for a weight loss drug called Mounjaro. (HealthDay) Prepare for Impact: Tesla will recall 159 Model S and Model X cars due to the possibility of the driver airbag deploying incorrectly. (Reuters) Unions Win Again: SAG-AFTRA reached a tentative deal with studio execs after four months on the picket lines. (CBS) Home for the Holidays: Gas prices are plunging in many parts of the US, just ahead of the holiday travel season. Nationally, the average gas price declined to $3.44 last week, marking a 37-cent drop from a month ago. (CBS) | | | Yesterday’s poll showed our readers overwhelmingly believe Americans will continue to spend like drunken sailors through the holiday season. 💸 | |
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| | | 💎 Wealth Watch | The American housing market could be headed for a 1980s-style recession, says Wells Fargo. In the 1980s, the Fed's aggressive war on inflation drove 30-year mortgage rates as high as 19% — prompting homebuilders in Jackson, Mississippi, to send the central bank's chair, Paul Volcker, lumber with the inscription: "Help! Help! We Need You. Please Lower Interest Rates." Read more » | Amazon will offer low-cost health benefits for Prime members. Available to Prime members for an additional $99 per year, membership covers unlimited access to all-day, on-demand virtual care, including video chats and in-app treatment for “fast care for common concerns.” Read more » | Bonds are back. Bond prices have slumped since the onset of the pandemic in one of the worst routs in market history. But Treasurys staged a comeback in recent weeks, with worries about the Fed's rate hikes fading. Investors – including Warren Buffett – are still backing the asset class, likely lured in by higher yields. Read more » |
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| | 🗳️ Outside the Box | Thinking its victim was a box of fruit, an industrial robot crushed a worker to death in South Korea (AP) Poppy cultivation in Afghanistan is down 95% in 2023. (ZH) A group of orcas sunk a Polish yacht off the coast of Morocco. (CBS) |
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| | 💡 Daily Trend | Brought to you courtesy of our friends at Glimpse. | |
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| “AI investing” could be either using AI to improve investment decisions or investing in AI companies. Either way, it’s been hot in 2023. |
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| | That’s all for today. Did we miss anything? Smash reply to let us know. | Cheers, | Wyatt |
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| | Notes | Please read this disclaimer. The authors of Alt Assets, Inc. are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content should not be taken as professional advice. They are self-taught accredited investors, sharing information, research, entertainment and lessons learned based solely on their own experience and circumstances. Individual results may vary. The published content is unique, based on certain assumptions and market conditions at the time of publishing, and is intended to serve solely as research, not financial advice. For entertainment purposes only. Not investment advice. Alts I LLC (the “Fund”) is an affiliate of Alt Assets, Inc. and the Fund has conducted a private placement offering under Rule 506(c) of Regulation D of the Securities Act of 1933, as amended. The Fund may invest in one, several, or all of the alternative asset classes that Alt Assets, Inc. publishes content about on its site. Any of the Fund’s investments that have positive designations on the Alt Assets, Inc. site are purely coincidental, as the Fund is actively managed and guided by its own investment parameters, as summarized in the relevant private placement memorandum. Alternative investing involves a high degree of risk, including complete loss of principal and is not suitable for all investors. Past performance does not guarantee future results. The newsletter may contain affiliate links, meaning that Alts.co and its associated entities may receive compensation for referring customers to the noted companies. We recommend seeking the advice of a financial professional before you make any investment in an alternative asset class or any associated entities, and we accept no liability whatsoever for any loss or damage you may incur. |
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