Plus, Palantir skyrockets...
November 03, 2023 | Read Online | | | | | *past 24-hour performance |
| | SBF guilty: Sam Bankman-Fried was found guilty Thursday on all seven charges against him, including fraud on FTX customers and investors, fraud on Alameda's lenders and conspiracy to commit money laundering. (NYT)
Best week of 2023?: The S&P 500 leaped 1.9% for its fourth straight winning day. It’s already up 4.9% this week and on pace for its best week in nearly a year with hopes that the Federal Reserve may finally be done with its market-rattling hikes to interest rates (AP) A cheaper Thanksgiving: Store prices for the 10-to 15-pound turkey, typically the star of the holiday dinner, have dropped 13% in October compared to the same month last year. (CNN)
ARMs jump ~10%: As higher rates continue to impact affordability and purchasing power, ARM loans increased almost 10 percent last week and continued to gain share. (CNBC)
Child care costs are spiking: The average child care payment is up 32% from 2019, according to new data from the Bank of America Institute. The price surge outpaced overall inflation. (Axios)
Palantir has a day: Shares of Palantir (PLTR) closed up 20% yesterday after the company released Q3 earnings that beat analysts' expectations and raised full-year revenue guidance. (CNBC)
Roku's stock leaps: Roku (ROKU) shares jumped after the digital video company turned in a Q4 revenue outlook that was stronger than Wall Street expected; Shares closed up more than 30%, the biggest percent increase since late July. (CNBC)
PayPal wants to get “leaner”: PayPal Holdings (PYPL) added nearly $4 billion to its market value after a pledge to turn "leaner" fired up investors, even as it disclosed a subpoena from the SEC tied to its stablecoin. (Reuters)
Japan announces stimulus plan to… fight inflation: Japan's cabinet approved a package of economic measures worth about $112 billion, including income tax cuts, as Prime Minister Fumio Kishida grapples with persistent inflation and falling approval ratings (Nikkei Asia)
ConocoPhillips lifts dividend 14%: ConocoPhillips (COP) jumped almost 6% after the oil explorer boosted investor payouts and raised its production outlook. (Yahoo) | | | | | The world is changing… is your investment strategy? | This time-sensitive guide reveals exactly how precious metals may protect your retirement savings (with no tax implications) from: | Big banks using your money to bail themselves out... Surging national debt... Weakening USD… Stock market downturns... | Get your guide here » | SPONSOR |
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| | A few laws of getting rich: Measuring wealth is easy. You just count it up. Measuring some of the downsides of wealth is so much harder and more nuanced. They can be so nuanced and hard to measure that many people won’t even believe they exist. A downside to wealth? How could that possibly be? Read more » | Why Target Date Funds fail investors: A $3 trillion delusion: Managing target date funds requires zero investment expertise, yet mutual fund and ETF managers rake in hundreds of millions of dollars a year in management fees. Read more » | The Feds next move will be a rate cut, not hike: Even if you’re not a trader, even if you’re a casual retail investor, there are ways to take advantage of this—move money into a short-term Treasury or corporate mutual fund. You’re making 5–7% in coupons, and you’ll make another 3–5% in duration. Read more » |
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