| | *past 24-hour performance |
| 💨 TL;DR | Sam Altman is back at OpenAI. Gold briefly touched $2k per ounce. The Fed will stick with “higher for longer.” US home sales hit a new low. Binance’s CEO pleads guilty; the company is fined $4 billion | 📰 Market Headlines | The S&P 500 fell by 0.2%, marking its third loss in the last 17 days. The Dow dropped by 62 points, and the Nasdaq declined by 0.6%. Minutes of the Fed’s late-October meeting showed the bank sticking to its higher-for-longer outlook on interest rates. OpenAI has brought Sam Altman back as CEO less than a week after firing him. Gold prices pulled back in Asian trade this morning after briefly touching $2,000 per ounce yesterday. The precious metal saw a series of strong gains in recent sessions, as weak U.S. labor and inflation data spurred increased bets that the Fed was done raising interest rates. End-of-year futures are flat, though. The price of yellowcake - uranium concentrate used in nuclear generation - has hit the highest level in more than 15 years, driven by soaring demand Barclays has bravely declared it’s unlikely the Fed will raise rates in January 2024. U.S. existing home sales dropped to the lowest level in more than 13 years as high prices and a lack of inventory decreased demand. | | 🧠 What do you think? | Both gold and Ethereum are around $2000 right now. Which will be higher at the end of 2024? | | GoldETH |
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| | 🕶️ Market Vibes | 🎰 Market Forecasts and Futures | Brought to you by Kalshi, our favorite prediction market. Get $25 with this link. | After the Fed minutes yesterday, traders are less confident of a March rate cut. The likelihood of a rate hike has increased from 0% to 3.7%. | The global oil market will see a slight surplus of supply in 2024 even if the OPEC+ nations extend their cuts into next year | 😱 Fear and Greed Index | | 🎤 What you said | Not much change from last year, but interesting to note that around 2/3 of you are staying home for Thanksgiving, which is lower than the national average of around 15%. |
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| | Traveling, stayed home last year | “I moved to a different city and state, so I've traveled back to where I moved from to see family.” | | A golden moment for private credit 🤝 | The most interesting thing about the private credit market is what’s happening today. | The market is opening up to ordinary retail investors for the first time ever. It's a golden moment. | Percent is the only platform exclusively dedicated to private credit. They provide accredited investors access to a wide variety of high-yield, short-duration offerings (9-month average). | These shorter-term investments are more responsive to current market conditions and interest rates. This means you can regularly calibrate your investments to meet your needs. | Get as much as 20% APY and more (That’s high) Investment minimums as low as $500 (That’s low) Swaggy readers can earn up to a $500 bonus with their first investment (Neat) | | PS - Check out this guide to investing in private credit: How to analyze risk & reward in alternative lending. This is smart, in-depth stuff. Check it out. | SPONSOR |
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| | 📊 Stocks | Brought to you by our friends at Public.com, my favorite online broker. | Winners and losers | Nvidia smashed both earnings and estimates, but expectations are so high the shares slipped slightly. Hedge funds dumped their shares in Q3. Jim Cramer says the S&P 500 will hit 5k by the end of 2024, which would be around a 10% increase. Guess shares sagged 14% after the company cut revenue and profit outlooks. New Oriental Education & Technology Group Inc., which tumbled more than 95% from its all-time high amid Xi’s shock move to ban swathes of the for-profit education industry, has more than doubled this year. A Florida judge found "reasonable evidence" that Tesla CEO Elon Musk and other managers knew the automaker's vehicles had a defective Autopilot system but still allowed the cars to be driven unsafely | Ideas & Analysis | Marijuana stocks to buy and watch. The risks and challenges for Disney’s Bob Iger. Paramount may be for sale. Who might buy? | Seven Nasdaq 100 companies have made up the vast majority of the index’s gains this year. Public lets you invest in all of them at once with their Magnificent Seven plan. | | 📊 Income | | German Bund yields have the potential to fall in 2024 as interest-rate cuts will intensify in the second half of next year. Where to park your cash in a high-interest rate environment. | If you want to invest in US stocks from companies that pay high dividends but don’t want to do the research yourself, check out Public’s High-Income Dividend-Paying plan. It follows the top 20 holdings by weight from the iShares Core High Dividend ETF (HDV). |
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| | 📊 Crypto | | Changpeng “CZ” Zhao, CEO of Binance, resigned from the world’s largest crypto exchange and pleaded guilty to several criminal charges from the Department of Justice. Binance was also fined $4 billion for breaking several anti-money laundering laws. Richard Teng has taken over for CZ. But who is he? Both BTC and ETH were off around 5% on the news before rebounding early Wednesday. |
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| | | | | | | | 📺 What to Watch Today | | Israel reaches tentative deal on release of hostages held by Hamas, sources tell NBC News |
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| | 📈 Trends you need to know | Brought to you by our friends at Glimpse, my favorite way to spot trends. | |
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| Disney’s ESPN finally got into online sports betting, which is forecast to increase to nearly $24 billion in the US by 2026. |
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| | That’s all for today. Did we miss anything? Smash the reply button 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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