Plus, the first 10 drugs subject to Medicare price negotiations...
August 30, 2023 | Read Online | | | | | *past 24-hour performance |
| | The first drugs for Medicare negotiation: The U.S. government named 10 drugs that will be subject to the first ever price negotiations by Medicare, taking aim at some of the most widely used and costliest medicines in America (WSJ) Remember the Great Resignation? In July, the quits rate was 2.3%, the lowest since January 2021, matching the months before the pandemic; JOLTS report shows US labor market is losing steam as job openings decline (Axios)
Consumer confidence tumbled in August: Americans are feeling less confident financially as summer comes to a close and high prices and interest rates weigh on their willingness to spend (AP)
Grayscale gets key win in appeals court: Crypto prices flew higher on Tuesday after the industry’s largest fund manager, Grayscale (GBTC), scored a legal victory in its long-running attempt to make it easier for investors to put Bitcoin in their portfolios (NYT)
Banks take on more debt: U.S. regulators on Tuesday unveiled plans to force regional banks to issue debt and bolster their so-called living wills, steps meant to protect the public in the event of more failures (CNBC)
Best Buy gets gloomy: Best Buy (BBY) expects declining tech sales to hit a low this year before stabilizing, in another sign of consumer caution around discretionary spending and retail purchases (CNN)
HP isn’t too rosy either: HP (HPQ) reduced its full-year cash flow and profit outlook, saying a rebound in the market for personal computers will take longer than expected. Shares declined about 5.5% (Yahoo)
Google monetizes maps: Google (GOOGL) is planning to license new sets of mapping data with solar & air quality data to a range of renewable energy companies, and is hoping to generate up to $100 million in its first year (CNBC) | | | | | “The Great Unraveling” has begun | I bet you never thought things like this could happen in America. Blatant lies from the highest level of the government... Wall Street making billions on rising inflation... All while millions of Americans have seen their retirement accounts tank, and are having to cut back on spending. | But what you might not realize is who is really behind all this. Details here » | SPONSOR |
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| | Chinese stocks are in a slump—and value investors are excited: Growth stocks in China performed better than value stocks for decades, but since February 2021, they have started to do a lot worse The downturn in China’s economy and its stock market means even companies that once seemed natural growth plays are attracting value investors. Read more » | The golden age of wage growth may be ending: Employers have had enough and are starting to cut salary offers by as much as 47%, according to an analysis of 20,000 job postings on ZipRecruiter. Read more » | Why the stock market isn't paying you much right now: The stock market is paying you a paltry premium of just 3.5 percentage points to put your money on the stock market roller coaster, versus the sure thing of government bonds. Read more » |
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| | Space billionaires are excited about nuclear rockets but haven’t built one yet (Observer) The end of the Googleverse (The Verge) Immigrants are joining the U.S. workforce at much higher levels than normal (Axios) Administrative Bloat At U.S. colleges is skyrocketing (Forbes) “Foie gras” venture capital (Trohan) Sell-side analysts time their recommendations around mutual funds (Institutional Investor) | | | | | New “AI SuperChips” Taking the World by Storm
| In a secret manifesto, China has spelled out its new plot to overtake the U.S. by becoming the world leader in AI. But to do that, they need AI SuperChips. | If China gets their hands on these powerful new chips – due out later this year – it could be game over for the U.S. | To see how to protect your money, your investments… and even grow your wealth in the months ahead, click here now. | SPONSOR |
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