Plus, BUD's massive profit drop...
August 03, 2023 | Read Online | | | | | *past 24-hour performance |
| | Budweiser boycotts hitting hard: AB InBev (BUD) reported a massive drop in Q2 net profit as overall volumes fell 1.4% and North America volumes fell 14.5%. (WSJ) Made in India: One of the world's largest tech companies, Foxconn, who is best known for being a supplier of Apple is set to invest $600 million in chip manufacturing plants in India. (TechCrunch)
Crude oil update: US crude stockpiles plunged by a record 17.05 million barrels – the largest weekly crude draw in history. American inventories are now at the lowest since January. (HFIR)
CVS starting to turn: CVS Health (CVS) posted a better-than-expected revenue and earnings report, beating Wall Street estimations. The company had $88.9B in revenue, $2B more than estimated. (CVS)
$103 billion in bonds: The US Treasury boosted the size of its quarterly bond sales for the first time in 2 1/2 years to help finance a surge in budget deficits. (Treasury)
Chemicals profits plunge: The world’s most valuable chemicals maker – Sabic, which is majority owned by Saudi Aramco – saw profit plunge by 85% in Q2 as the global economy weakened. (Bloomberg)
Paypal slumps: Paypal (PYPL) fell 7% after Q3 operating margins were reported below expectations due to competition, although it slightly beat earnings and revenue estimates. (Bloomberg) | | | | | If You're Concerned About How Massive U.S. Debt Could Affect Your Retirement... | You need to see this guide on how to diversify and protect your retirement saving. In it you’ll learn how to protect yourself from surging National Debt... a weakening U.S. Dollar... stock market downturns... and much more. Get your guide here. | SPONSOR |
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| | What’s Happening with the Economy? The Great Wealth Transfer: The economy clearly isn’t reacting in the usual way to the Fed’s tightening; it is much stronger than normal and stronger than expected. Why is that? Here’s Ray Dalio’s take. Read more » | IRS Says Staking Rewards Are Taxable Income in Latest Revenue Ruling: Crypto investors who earn staking rewards are now required to report these earnings as part of their gross income for tax purposes. Read more » | A glut of mediocre Realtors is screwing over homebuyers: In most states, getting a license to help people buy or sell a home requires only a few hundred dollars, several weeks of coursework, and a passing grade on a multiple-choice test. Read more » | Foreign buyers are bailing on the U.S. housing market: International buyers purchased 14% fewer U.S. homes in the past year, the least since the National Association of Realtors began tracking the statistic in 2009. Read more » |
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| | Here’s what we’re watching for COIN’s Q2 earnings (CoinSnacks) How much oil is produced in the US? (USA Facts) How to protect your hard earned retirement with gold & silver (Vault)* China and India might be most at-risk of water shortages (CNBC) Bordeaux’s cabernet and merlot grapes are being ravaged by a rare mildew (Robb Report) Apple moves cautiously on AI as other tech giants race ahead (Axios) Jamie Dimon calls Fitch Ratings U.S. downgrade ‘ridiculous’ & ‘doesn’t really matter’ (CNBC) | *SPONSOR | | | | Liz Ann Sonders @LizAnnSonders | |
| This year a mirror image for S&P 500 Energy vs. Tech ... 2022 (blue) saw massive Energy outperformance; yet now (orange), dynamic completely flipped with Energy underperforming by ~35%
[Past performance is no guarantee of future results] http | | | | Jul 18, 2023 | | | | | | 141 Likes 25 Retweets 4 Replies |
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