Day Trading Academy: Recent Episodes
Marcello Arrambide: Founder - Day Trading Academy Learn to Trade
Everything you need to know to learn how to trade and invest in the stock. We are starting this podcast a weekly recap of the financial markets and economy in order to allow you to start to understand how they work. We have been teaching traders in the stock market for nearly 10 years now and our founder Marcello Arrambide has been in the markets for nearly 18 years. With combined experience of over 90 years this is one your one stop shop to learn how to trade in the stock market.
In today’s Recap, Marcello talks about Elon Musk’s Starlink, the satellite internet venture, that has stunned analysts with a projected revenue surge to $6.6 billion by 2024, showcasing its meteoric rise and disruptive force in the satellite communications industry. Meanwhile, a looming solar storm illuminated the skies with spectacular auroras, captivating observers with nature’s awe-inspiring display but also being a heads up on the risk this might pose to the electronic networks of the earth. On another front, the cost of robusta coffee beans has skyrocketed by over 60%, driven by a confluence of factors including adverse weather in Vietnam and rising competition from export crops like durian to China, foreshadowing potential changes in consumer habits and supermarket shelves worldwide.
Elon Musk’s Starlink, the satellite internet venture under SpaceX, is experiencing unprecedented growth, with analysts projecting a staggering revenue increase from $1.4 billion in 2022 to $6.6 billion in 2024. Since its inception in 2019, Starlink has rapidly expanded its constellation to nearly 6,000 satellites, with over 5,200 operational, and has deployed nearly 3 million terminals across 75 countries. This growth trajectory surpasses the combined revenue of the two largest geostationary satellite operators, SES and Intelsat, which recently announced a merger, highlighting Starlink’s disruptive impact on the satellite communications industry.
The cost of robusta coffee, the bean variety used in instant coffee & some espresso blends, has surged +60% over the past year, reaching its highest in nearly 50 yrs, which will be reflected in supermarket shelves. This is due to a combination of bad weather in Vietnam, world’s largest grower of robusta, plus competition with another fruit crop, namely the durian for export into China. Robusta beans had been in demand as roasters anticipated that the cost-of-living crisis, will prompt consumers to switch toward cheaper coffee blends. China is now developing a taste for coffee, ushering in an era, with coffee prices higher for longer.
A severe solar storm is supercharged the northern lights or aurora borealis on Friday, with forecasts indicating that auroras could be seen as far south in the United States as Alabama & northern California in North America. The National Oceanic & Atmospheric Administration’s Space Weather Prediction Center stated on Thursday that a series of solar flares & eruptions from the sun could trigger severe geomagnetic storms & spectacular displays of aurora on Earth from Friday evening through the weekend.
China’s economy is slowing & citizens are moving to buy more gold, as a safe-haven asset to hedge against economic uncertainties, sending prices of the precious metal to new record highs there. The country’s central bank has also joined the movement, adding 60K troy ounces of gold to its holdings in April, according to official data released. It marks the 18th straight month the People’s Bank of China was piling in on gold. The heightened interest in gold is also a pushback to the strong US dollar, which is making it too expensive for emerging nations like China to import goods.
U.S. consumer sentiment fell sharply in May to the lowest level in 6 months, as Americans cited stubbornly high inflation & interest rates, in addition on fears that unemployment will rise. The University of Michigan’s consumer sentiment index, released Friday, in a preliminary version, dropped to 67.4 this month from a final reading of 77.2 in April. May’s reading is still near +14% higher than a year ago. Consumers’ outlook has generally been grim since the pandemic & particularly after inflation first spiked in 2021. Consumers’ willingness to spend is a crucial driver of growth.
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In today’s Recap, Marcello tells us that Warren Buffett’s company, Berkshire Hathaway, is making headlines for stacking up record cash reserves. Meanwhile, Tesla is soaring high after securing approval to launch its full self-driving technology in China, sending its stock price up by a whopping 15.31%. And over at Apple, its fortunes are mixed as its stock surged by 7% in after-hours trading, driven by impressive Q2 earnings and a substantial stock buyback announcement, despite a notable drop in iPhone sales.
Bitcoin continued its month-long slide on Tuesday, to close out April, at one point trading down to below $57K. The leading cryptocurrency ended the month down -15% & post its 1st negative month in the past 8. It was be the worst month since November 2022, when FTX collapsed. It’s still up over +37% for 2024. On Wednesday, Bitcoin rose over +1.50% bringing it to near $58K, again. It remains up near 100% year on year.
Preliminary data from the federal statistics office showed that German inflation rose slightly in April, due to higher food prices & a smaller drop in energy prices than in previous months. German consumer prices, harmonised to compare with other European Union countries, rose +2.4% in April, compared with 2.3% y/y in March.
The global nickel market has been thrown into chaos after a flood of new supply from the world’s largest producer Indonesia, the result of huge Chinese investment & major technological breakthroughs. Mines across the world are at risk of closing, while others are asking for state bailouts or going broke. The scale of the collapse has left some in the industry questioning if there’s a future for most mines outside of Indonesia, while China’s dominance over the nation’s processing sector, has also raised concerns about the reliability of supply.
U.S. economy added 175K jobs & the jobless rate ticked higher to 3.9% in April. After several hotter-than-expected jobs reports, April’s employment gains fell short of economists’ expectations of 240K new jobs & a 3.8% unemployment rate. Average hourly earnings rose +0.2% from the previous month & 3.9% from a year ago, below consensus estimates. The jobless rate tied for the highest level since Jan 2022. The rate that includes discouraged workers & those holding part-time jobs for economic reasons also edged up, to +7.4%, highest level since November 2021. Labor force participation rate, was unchanged at 62.7%.
Tesla, which had 140,473 employees globally as of end-2023, but job cuts continue. Elon Musk has dismissed 2 Tesla senior executives & plans to lay off 100’s more employees, frustrated by falling sales & the pace of job cuts so far. Rebecca Tinucci, senior director of the electric vehicle maker’s Supercharger business & Daniel Ho, head of the new vehicles program, will leave on Tuesday morning, it is being reported. Musk also plans to dismiss everyone working for Tinucci & Ho, including the roughly 500 employees who work in the Supercharger group.
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In Today’s recap, Marcello talks about the collapse of Republic First Bank as it served as a stark reminder of the vulnerabilities within the financial sector. Tesla’s shares surged by a remarkable 12.06%, propelling Nasdaq to its third consecutive day of gains. However, concerns loomed over the US economy as growth slowed to a sluggish 1.6% in the first quarter, the weakest pace since 2022.
The median U.S. home sale price hit a record $383,725 in the 4 weeks ended April 21, up 5.2% from a year earlier. The median asking price increased 6.7% to $415,925. With 30-year mortgages now charging an average 7.1% interest rate & home prices continuing to climb, the median monthly housing cost has risen +13% to a record $2,843. With home listings still in short supply, nearly a third, 29.8% of homes, are selling above their listing price. Only 6% of sellers are dropping their asking price.
Oil prices settled higher on Friday, garnering support from tensions in the Middle East, but a strong dollar & U.S. inflation data quashed hopes that the Federal Reserve would cut interest rates soon, giving prices a ceiling. Supply concerns supported prices as tensions continue in the Middle East.
Shares of U.S. based Chipotle Mexican Grill rose +6.33% on Thursday at $3,111.97 after the fast-casual burrito chain topped analysts’s Q1 estimates & reported a +7% rise in same-store sales, beating the +5.2% expected by StreetAccount. The stock is up +36.07% in 2024 & +50.51% year on year, with a market cap of $85.48B.
Intel made waves with the recent launch of its third-generation AI accelerator, Gaudi 3. Boasting impressive advancements, the semiconductor giant claims that the latest chip is twice as power-efficient and offers a processing speed that outpaces NVIDIA’s H100 GPU, the current market leader in AI chip technology.
Devastating tornadoes are tearing across parts of eastern Nebraska & Iowa on Friday, as a multiday severe thunderstorm event ramped up in the central United States.Storms began in parts of the Plains & South early Friday afternoon. The National Weather Service had received at least 42 reports of tornadoes as of 6:30 p.m. ET, in at least 3 states, including Texas, Nebraska & Iowa.The storm event is supposed to continue for 3 more days.
The post April 28: Another Bank Failure, Tesla Drops Prices (again), US economy weakening (Recap ep275) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello shares with us recent events that have seen a reduction in global tensions, offering some relief from heightened concerns regarding a possible World War 3. However, challenges persist in the business world, with companies like Tesla and Apple facing difficulties. Meanwhile, the commodities market experiences interesting fluctuations, notably with coffee, tea and cacao prices on the rise.
Shares of U.S. based tech firm NVIDIA fell -10.00% on Friday at $762.00, it was the worst day for the chip-maker since March 2020, when the company’s value was one-twelfth of its current valuation. The stock plunge wasn’t tied to any news out of NVIDIA. It came as investors scaled back their holdings of many semiconductor stocks ahead of earnings later this month.
The U.S. streaming giant Netflix shares fell -9.09% on Friday at $555.04, after saying it will stop reporting subscriber growth in its quarterly earnings starting in 2025. Shares as a result suffered their worst day since July.
The UAE continues to reel from floods caused by the heaviest rainfall ever recorded in the desert state, with airlines, banks & city transport facing major disruptions & service outages. Roughly a year’s worth of rain pummeled the normally arid Gulf country in a span of just 12 hours. And in many homes & businesses across Dubai & other emirates, running water & power are no longer functioning. 100’s of cars were left abandoned on Dubai’s Sheikh Zayed Highway as drivers’ engines died while water rose around them. The city’s metro became an overnight shelter, as people working in & around some stations couldn’t get home.
In a significant move, Tesla has announced plans to reduce its global workforce by 10%, affecting approximately 14,000 employees out of the total 140,473 globally as of December 2023. This decision comes amidst a challenging landscape for the electric vehicle (EV) manufacturer, with declining sales and increasing competition leading to an intensifying price war within the EV market. Adding to the shake-up, two top executives are set to depart from the company, signaling internal changes. In response to market dynamics, CEO Elon Musk has unveiled plans for the development of the Model 2, a more affordable vehicle option slated to begin production in late 2025. These developments come against the backdrop of Tesla’s stock performance, which has seen a notable decline of 35.01% over the course of 2024.
Apple has ceded its position as the world’s leading phone maker to Samsung. The tech giant experienced a decline in phone shipments, with a notable 9.6% decrease compared to the previous year. In the first quarter, Apple sold approximately 50.1 million iPhones, marking a decrease of 5 million units compared to the same period last year when it shipped 55.4 million iPhones. As a result, Apple’s global market share saw a modest increase of 17.3%, while Samsung surged ahead with a market share of 20.8%.
China has embarked on the construction of an underwater data center with performance capabilities equivalent to that of six million PCs. This groundbreaking project is driven by the goal of conserving energy, with estimates suggesting it could save a staggering 122 million kilowatt-hours of electricity. Spanning an area nearly the size of ten soccer fields, the underwater data center represents a bold leap in technological innovation. Remarkably, just one of these underwater computers has the processing power equivalent to that of 60,000 regular computers, showcasing the immense potential of this cutting-edge initiative.
Most Asian Pacific stock markets fell, amid escalating tensions in the Middle East.
In China new home prices have fallen for a 9th straight month, falling -2.2% year on year in March.
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In this recap, in U.S. market news, Monday saw NYSE volume sink, resulting in the slowest trading day of 2024, while U.S. stock markets were mixed on Tuesday. Wednesday witnessed a major sell-off driven by higher-than-expected inflation in March, raising concerns that the Federal Reserve won’t cut interest rates anytime soon.
In conspiracy/weather news, significant events included the breaking loose of 26 barges on the Ohio River, the detection of avian flu in the seventh state, and water rationing in Bogota, Colombia. Additionally, top economists, including Barack Obama’s Treasury Secretary, uncovered the real inflation number under Biden, reaching 18% and hovering at a 40-year high. The NJ National Guard conducted a hypothetical search for a nuclear bomb at a New Jersey basketball arena, and the CDC admitted to accidentally inflating children’s Covid death numbers due to a coding logic error. Japan released irrefutable evidence that all COVID variants are man-made.
Regarding commodities, military tensions between Israel and Iran triggered a surge in gas prices to a five-month high. Cocoa prices touched another all-time high, and coffee prices rose sharply due to concerns about crops in Brazil and Vietnam.
In financial and banking news, the U.S. Treasury Department announced that the U.S. budget deficit topped $1 trillion halfway through the current fiscal year, driven in part by rising interest payments on the national debt. US CPI in March rose by 0.4% for the month and 3.5% year-on-year, spiking inflation and making Federal Reserve interest rate cuts less likely. JPMorgan shares fell after disclosing that net interest income levels may fall short of analysts’ expectations in 2024.
Economically, India’s economy recently expanded at its fastest pace in six quarters, surpassing expectations with 8.4% growth from October to December, underscoring India’s growing importance as a growth region.
In corporate news, an OpenAI board member stated that almost all forms of human labor will be replaced by AI. Tesla announced a price increase for its fully autonomous driving service, and Alphabet (Google) reached an all-time high in trading its shares.
In trade news, U.S. Treasury Secretary Janet Yellen said she wouldn’t rule out any measures, including potential additional tariffs, in response to China’s green energy exports and subsidized clean energy products flooding international markets.
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In today’s Recap, Marcello talks about how both China and the US have issued stark warnings about potential dangers accompanying this coming eclipse. Meanwhile, concerns arise in the tech sphere as Google’s A.I. is found venturing into uncharted territories, prompting questions about its ethical boundaries. Amidst these developments, the financial markets witness a historic moment as gold prices soar to record highs, signaling potential shifts in global economic dynamics.
U.S. services industry growth slowed further in March, while a measure of prices paid by businesses for inputs dropped to a 4-year low, which bodes well for the inflation outlook. Services are the main driver of inflation, via higher wages.The Institute for Supply Management (ISM) said on Wednesday that its non-manufacturing PMI fell to 51.4 last month from 52.6 in February. It was the 2nd straight monthly decline in the index since rebounding in January. Data last week showed services inflation excluding energy & housing cooling considerably in February, after accelerating in January.
The gold market continues its unstoppable run to record highs, as it touches an all-time high of $2,350 an ounce ahead of the weekend. The latest rally comes after geopolitical tensions in the Middle East heat up because of Israel’s war with Hamas in Gaza.
A powerful earthquake rocked the entire island of Taiwan early Wednesday, collapsing buildings in a southern city & creating a tsunami that washed ashore on southern Japanese islands. Taiwan’s earthquake monitoring agency gave the magnitude as 7.2 while the U.S. Geological Survey put it at 7.5. The depth was about 35 kilometers (21 miles). The Japan Meteorological Agency forecast a tsunami of up to 3 meters (9.8 feet) for the southern Japanese island group of Okinawa.
A 4.8 magnitude earthquake recorded in New Jersey that shook residents in surrounding states & New York City on Friday morning was one of the strongest in state history. The temblor was reported about 5 miles north of Whitehouse Station, New Jersey, Friday, according to the U/S. Geological Survey. The epicenter was about 45 miles from NYC, where residents reported shaking furniture & floors. It is the strongest quake to hit NYC in 139 years. The last one was dated on August 10, 1884. It is the strongest in New Jersey in 240 years, last recorded in 1783. The earthquake and its aftershocks have been felt in multiple U.S. states.
Archaeologists are now investigating claims about a long-lost group of giant humans who supposedly stood up to 10 feet tall & lived in caves in the southwestern U.S. Supersized human skulls, 15-inch sandals & massive hand prints have been uncovered in excavations inside a cave in Lovelock, Nevada since 1912, that have continued to spark the curiosity of scientists & the public at large for more than a century.
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Stay up-to-date with Marcello’s weekly recap! This time, we’re exploring the latest developments surrounding Tesla’s challenges, eclipse conspiracies, and a controversial water related decision in California. Morgan Stanley’s adjusted forecast for Tesla’s vehicle deliveries is causing a stir, while Xiaomi’s bold entry into the electric car market sparks intense competition in China. As the April 8th eclipse draws near, travel restrictions and safety concerns mount, with NASA and CERN preparing for scientific investigations. Meanwhile, California’s approval of Bill Gates’ sewage-to-drinking-water plan is causing people to debate.
Cocoa futures surged above an unprecedented $10K a metric ton this week an all time high with prices of the key chocolate ingredient doubling this year. Cocoa has more than tripled in cost over the past year. The market is being hit by poor crops in key West African growers, putting the world on course for a 3rd straight annual supply deficit. The world is facing the largest cocoa supply deficit in +60 years & chocolate consumers will see the effects w/higher prices soon. The International Cocoa Organization forecasts a supply deficit of 374K tons for 2023-24 season, a 405% increase from a deficit of 74K tons in the previous season.
Investment banker Morgan Stanley’s head of global auto & shared mobility research Adam Jonas, cut his forecast for Tesla vehicle deliveries saying he expects the electric vehicle behemoth to raise prices to compensate. He now expects Q1 deliveries of 425,400, a 9% decrease from his previous forecast of 469,400. Jonas’ new forecast still implies +0.6% y/y delivery growth. He also lowered his full-year delivery estimate to 1.95M, down from 1.99M, or 8% year-over-year growth.
Chinese smartphone company Xiaomi stated on Thursday it will sell its 1st car for far less than Tesla’s Model 3, as price wars heat up in China’s hotly competitive electric car market. Xiaomi CEO Lei Jun said the standard version of the SU7 will sell for 215,900 yuan ($30,408) in the country, a price he acknowledges will mean the firm was selling each car at a loss. Tesla’s Model 3 starts at 245,900 yuan in China. Lei claimed the standard version of the SU7, beats the Model 3 on over 90% of its specifications, except on 2 aspects that he said it might take Xiaomi at least 3 to 5 years to catch up with Tesla on.
The disgraced cryptocurrency mogul Sam Bankman-Fried was convicted last fall in the Southern District of New York on federal fraud & conspiracy charges related to his role in the collapse of his crypto exchange firm FTX in November 2022. On Thursday he was sentenced to 25 years in prison, after A jury found Bankman-Fried illegally used FTX depositor funds to bankroll a lavish lifestyle, purchasing luxury properties & private planes as well as making huge political donations.
Krispy Kreme shares surged +39.36% on Tuesday at $17.35, its best day on record for the stock. McDonald’s plans to sell the company’s doughnuts at its restaurants nationwide by the end of 2026, with the initial roll-out beginning later this year. McDonald’s shares were little changed during the session. Krispy Kreme stock is higher by +14.98% in 2024 & 11.58% year on year, with a market cap of $2.1B.
A report from the U.S. Labor Department on Thursday showed initial claims for unemployment benefits fell 2,000 to a seasonally adjusted 210K for the week ended March 23. Initial filings for unemployment were slightly lower than the 211K that economists had predicted.
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This time around, Marcello’s diving into the some of the most important topics of the week. We’re talking about record-breaking stock markets, wild predictions for Bitcoin hitting $250,000, and Tesla’s sneaky move to bump up the price of the Model Y by $1,000.
NVIDIA made waves as they unveiled their next-generation chips, propelling shares up by 1.07% to $893.98 on Tuesday. The company also announced plans to introduce their first iteration of AI graphics processors, dubbed Blackwell, later this year. This move marks a significant step forward in the realm of artificial intelligence and graphics technology, showcasing NVIDIA’s ongoing commitment to innovation.
U.S. Fed released new economic projections, w/officials expecting the economy to grow +2.1% in 2024, above what’s considered the U.S. economy’s long-run potential & an upgrade from +1.4% growth seen in Dec. Unemployment rate only expected to hit +4% by the end of 2024, barely changed from current +3.9% level, while a key measure of inflation is projected to keep falling, but at a slower pace, to end the year at +2.6%. Updated economic projections have the personal consumption expenditures price index excluding food & energy rising at +2.6% rate by the end of 2024, vs +2.4% seen in the projections issued in Dec.
The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, while sales of previously owned homes increased by the most in a year in February, signs the economy remained on solid footing in the first quarter. Initial claims for state unemployment benefits dropped 2K to a seasonally adjusted 210K for the week ended March 16, Analysts had forecast 215K claims in the latest week. Existing home sales rose +9.5% last month, to a seasonally adjusted annual rate of 4.38M units, the highest level since February 2023. The monthly increase in sales, was also the largest since February 2023.
Gold prices surged to a new record above $2,200 an ounce, after the U.S. Fed maintained its outlook for 3 rate cuts this year Wednesday, indicating it doesn’t seem to be alarmed by a recent uptick in inflation. Bullion rose as much as +1.6% to $2,220.89 an ounce in early trading, before paring some gains. The price has spiked around +11% since mid-February, underpinned by long-standing support including heightened geopolitical risks & increased buying by central banks, led by China. The rapid ascent has surprised many seasoned market observers & traders.
Darden, the parent company of Olive Garden and LongHorn Steakhouse, has issued a warning, noting a trend of lower-income customers reducing their visits to its brands. Conversely, the company reports an uptick in visits from higher-income diners. This shift in consumer behavior underscores the economic disparities impacting the restaurant industry, highlighting the challenges faced by businesses catering to diverse income demographics.
ISIS has claimed responsibility for the tragic attack at a concert hall in Moscow last Friday. The assault resulted in the loss of at least 40 lives, with over 100 civilians sustaining injuries.
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In this week’s recap, Marcello informs us that the Tesla stock was downgraded due to converns volume by Wells Fargo; In a controversial moment at the unveiling of a ‘male’ humanoid robot in Saudi Arabia, dubbed Inapp, the machine apparently touched a female reporter inappropriately; Bitcoin’s meteoric rise continues as it surpasses gold in investor portfolio allocation, according to JPMorgan. Additionally, Bitcoin now ranks as the 8th largest asset in the world, overtaking silver, and has also surpassed the Swiss Franc to become the 13th largest currency globally.
Tesla stock fell 4.54% on Wednesday at $169.48, after Wells Fargo downgraded the electric vehicle maker to underweight from equal weight, noting risk to volume as price cuts are having a diminishing impact. Shares of Tesla are down -32.49% in the past 3 months, -31.79% in 2024 & -7.96% y/y, with a market cap of $565.43B.
Prices for 2 of the world’s most important mined commodities are diverging quickly, with copper now rallying above $9,000 a ton, as supply cuts hit the market & iron ore sinking as demand headwinds mount. Copper has surged 5% this week, ending a months-long spell of price inactivity, as investors focused in on risks to supply at mines & smelters. Tentatively, traders are also more open to the idea, that the worst of a global downturn is in the past, particularly for metals like copper, that are increasingly used in electric vehicles and energy renewables.
On Thursday, Cocoa’s May dated futures hit a new record of $7,489 per metric ton. Cocoa is now up more than +16% on the week, on pace for its 10th weekly gain in 11 weeks. The commodity is also on track for its best week since Feb. 23, when cocoa gained 17.13%. Adverse weather conditions and an onslaught of the cacao swollen shoot virus propelled cocoa prices to a new record high this morning. Rising cocoa prices have hurt chocolate confectioners such as Hershey, which is down nearly 20% in the past 12 months versus the S&P 500′s 31.5% gain.
U.S. Labor Department’s Bureau of Statistics reported that February’s producer price index (PPI), a measure of wholesale inflation, rose +0.6% last month, amid a surge in the cost of goods like gasoline & food, which could well fan investor fears, that inflation was picking up again. A +1.2% jump in the prices of goods accounted for nearly 2/3 of the increase in the PPI. Goods prices were driven by energy products, which surged +4.4% after declining -1.1% in January. Excluding food & energy prices, core PPI climbed +0.3% in February. Economists had expected a +0.3% gain for headline PPI & a +0.2% increase for the core reading.
JP Morgan & Chase, the largest bank in the United States & the world’s largest bank by market capitalization as of 2023, fell -1.78% on Thursday at $187.97, after the Federal Reserve announced the bank was fined almost $350M. The U.S. central bank explained that JPMorgan was hit with $348.2M in fines by a pair of U.S. bank regulators. The punishments are tied to a program to analyze firm & client trading for misconduct, that has been deemed insufficient. The stock is up +10.51% in 2024 & +49.41% y/y, with a market cap of $551.25B.
Shares of California based Fisker collapsed -51.94% to $0.15 on Thursday, following a report, citing people familiar with the company, who said the electric vehicle developer hired restructuring advisors for a potential bankruptcy filing. The stock is down -91.15% in 2024 & -97.41% y/y, with a market cap of $172.49M.
The Bank of Japan is expected to move toward ending its negative interest rate policy by April, contingent on annual wage negotiations. Japanese government bond yields rose Monday, while the yen strengthened. Japan’s 2-year government bond yields hit a 13-year high on Monday, amid speculation that the Bank of Japan will soon tighten monetary policy. The yield on the 2 year JGB rose to +0.2% on Tuesday, having last reached this level in January 2010. The yield on the benchmark 10 year JGB also climbed to 0.778%, its highest level since November 2023.
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In today’s Recap, Marcello tells us how Bitcoin reached a new record high during this week of trading, also gold reached also a new historic high on Tuesday; Elon Musk is now the second richest person in the world. Musk has suffered a lost in his net worth of about $31B over the past year. There is another regional bank in the US that is facing trouble as the New York Community Bancorp halted trading on the NYSE.
Despite the present political rhetoric in the U.S. concerning inflation over time, the actual evidence is quite shocking. In January 2021, the cost of a monthly fixed 30 mortgage on a $400K home was $1,349.00. In January 2024, just 3 years later the cost was $2,148.00 at 7.09% interest, a +59.2% increase.
Britain’s Conservative government in power for 14 years announced a 10B-pound ($13B) cut in labour taxes on Wednesday, paring emergency reserves to pay for it, in what may well be the last budget, ahead of an election where the Conservatives are down by 20% in polls. The budget fell short of the big give-away, which the right wing of the party had been hoping for. Opposition Labour Party leader Keir Starmer nonetheless said the budget was the “desperate act of a party that has failed. The rate of social security contributions is to be reduced by 2% for the 2nd time in just over 3 months, in a move worth several 100 pounds a year to some 27M workers.
The Smokehouse Creek Fire, the largest in Texas history, has ravaged over 1 million acres of the Texas Panhandle. With only 15% containment, it has claimed two lives and spread into Oklahoma, scorching 31,000 acres. Reports indicate that over 80% of Texas cattle feed lies in its path. The local utility company is suspected as the likely cause.
Another regional bank finds itself in dire straits as trading of New York Community Bancorp is halted on the NYSE. The bank has acknowledged “material weaknesses” in loan oversight, sending shockwaves through the financial community. Wednesday’s plummet of more than 42% underscores the severity of the situation, with shares now down 60% since the beginning of the year.
Tesla’s Euro Gigafactory near Berlin faced an unexpected halt in operations as CEO Elon Musk labeled an arson attack nearby as “extremely dumb,” resulting in a power outage. This outage incurred significant losses for Tesla, amounting to hundreds of millions of Euros and leaving around 1,000 vehicles unfinished on Tuesday alone. The situation prompted the evacuation of the Tesla site, which employs 12,500 people, with most employees sent home until further notice.
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In this recap, signs of consistent strength in consumer spending persisted, with the NASDAQ achieving its first record close in over two years. NVIDIA, for the first time, reached a market capitalization of $2 trillion, experiencing a 66% surge in its stock value in 2024 and a 244% increase year-over-year. Investors continue to favor mega-cap technology stocks as a hedge against slowing inflation.
Bitcoin and cryptocurrency news saw Bitcoin reaching a fresh high of $64,000 on Wednesday before retracing, marking its highest level since November 15, 2021. Additionally, it surged by 21.54% on Friday, hitting record highs in a dozen other currencies.
In commodities, the world’s largest chocolatier, “Barry Callebaut,” announced a significant workforce reduction of about 19%, affecting 2,500 jobs. Meanwhile, cocoa prices reached record highs for nine consecutive days, reflecting supply concerns. Financial and banking news revealed that despite reported growth of $334 billion in Q4, US GDP expansion came at the cost of adding $834 billion in debt. The US national debt reached $34.4 trillion on Wednesday, increasing by approximately $1 trillion every 100 days.
In economic news, India’s economy outpaced expectations in Q4, growing at its fastest pace in six quarters with a growth rate of 7.6%. Conversely, China’s manufacturing activity contracted for the fifth consecutive month in February. Corporate developments included Google’s parent company suffering a $70 billion loss in market value in a single trading day following an incident involving a controversial AI chatbot. The CEO of Kellogg’s suggested that low-income individuals should consider eating cereal for dinner to save money. On a positive note, Warren Buffet, at 93, continues to lead Berkshire Hathaway, which posted its second straight record annual profit. Berkshire’s annual operating profit climbed by 21% to $37.4 billion, surpassing analysts’ expectations.
In the realm of technology, Telegram announced plans to share 50% of ad revenue with channel owners. Apple canceled its plans to build an electric car and is focusing on generative AI. Elon Musk sued OpenAI for breach of contract. Investment news highlighted the Walton family’s sale of over $1.5 billion worth of Walmart stock, along with notable figures like Bezos, Zuckerberg, Dimon, and Gates also selling significant amounts of stocks as the market hits record highs. Internationally, agricultural ministers from the EU convened in Brussels to address the crisis as farmers blocked border crossings between Poland and Germany. Sanctuary cities in the US are facing financial pressure due to the recent surge of illegal migrants, with cities like Chicago and NYC imposing restrictions on busing migrants from the South. Many experts argue for more federal assistance to ensure these cities can cope with the influx of migrants. NYC, for example, received $145 million, less than 10% of what it spent on migrant services in fiscal 2023.
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In this week’s recap, Marcello talks about the recent success NVidia is having thanks to its essential participation into the rising AI race; Elon Musk’s Neuralink has succesfully implanted a chip into a human patient; Trump announced the launch of his own sneakers line.
In Q4 of fiscal 2024, NVIDIA data center segment, where its high end AI chips are manufactured saw revenue rally $18.4B. In the same quarter, a year ago, the entire company’s revenue came in at $6.1B. Net income for Q4 2023 was $12.8B. Annual profits in fiscal 2024 have reached $32.3B. In fiscal 2024, NVIDIA revenue grew 126% from the prior year with the 4th Quarter revenue up +265% from the prior year period.
NVIDIA is replacing Tesla as Wall Street’s most traded stock, adding to its prominence after becoming the 3rd-most valuable U.S. company & providing more evidence of how central AI-related bets have become to investors. About $30B worth of NVIDIA shares changed hands daily on average over the past 30 sessions, pulling ahead of Elon Musk’s electric car maker, which averaged $22B per day over the same period. Tesla since 2020 had dominated daily U.S. stock trading, with turnover, a stock’s share price multiplied by the number of shares exchanged, peaking above $35B several times in recent years.
Central banks have been solid gold buyers for over a decade; however, their appetite has become insatiable in the last 2 years as global reserves have risen by over 1,000 tonnes in both 2022 & 2023. Commodity analysts note that in the last 2 years central bank gold purchases as its share in global demand has tripled, representing between 25% & 30%.
Mexico’s outgoing president has taken steps to promote a smooth hand-off for national oil firm Pemex, but the latest moves will likely postpone a day of reckoning for the world’s most heavily-indebted oil firm. Last week, President Lopez Obrador rolled out new support for Pemex, part of his goal to make Mexico self-sufficient in the production of motor fuels, unveiling a new tax break worth about $6.4B. It follows a huge $90B in gov’t support given to Pemex since Lopez Obrador took office in 2018, spanning tax cuts & capital injections, most of it to service a debt load of $106B. The firm’s distressed finances may fall to former Mexico City Mayor Claudia Sheinbaum, Lopez Obrador’s anointed successor & current front runner.
The European Union seems set to fine Apple about 500M Euros ($539M) over alleged breaches of EU competition law, it has been reported. The fine is expected to be announced early next month. Last year, the European Commission accused Apple of distorting competition in the music streaming market via App Store rules that prevent developers from informing users of other purchasing options.
The 1st human patient implanted with a brain-chip from Neuralink appears to have fully recovered & is able to control a computer mouse using their thoughts, the startup’s founder Elon Musk has stated. “Progress is good, & the patient seems to have made a full recovery, with no ill effects that we are aware of. Patient is able to move a mouse around the screen by just thinking,” Musk said in a Spaces event on social media platform X. Neuralink has said, that the initial goal is to enable people to control a computer cursor or keyboard using their thoughts. Neuralink, which was valued at about $5B last year, has faced repeated calls for scrutiny regarding its safety protocols.
Israel intensified its bombardment of Rafah in Gaza’s south ; Greek farmers were expected to drive into Athens with tractors to protest outside parliament over the impact of rising energy costs; NVIDIA last week’s market capitalization eclipsed Amazon’s & Alphabet’s to make it the 3rd-most valuable company, behind Microsoft & Apple.
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In this week’s Recap, Marcello talks about some massive explosions in the sun that have caused blackouts near Australia and Asia similar to what they called the Carrington event in 1859; Mutan wolves that roam in the Chernobyl exclusion zone have been found to have some cancer-resilient genomes that could help humans fight cancer; China’s central bank has injected the financial system with liquidity to stimulate production growth.
As China’s central bank unleashes liquidity into the financial system to prod growth, banks are now chasing factories with cheap loan offers. But squeezed out by bigger rivals, smaller firms are unwilling to take on loans to finance new business, in what economists see as a broken link in China’s increasingly inefficient monetary policy. Investment by private companies, which according to state officials provide 80% of urban jobs, fell -0.4% last year, while state investment rose +6.4%.
China’s consumer prices fell at their steepest pace in more than 14 years in January, while producer prices also dropped, ramping up pressure on policymakers to do more to revive an economy low on confidence & facing deflationary risks. The world’s 2nd-biggest economy has been grappling with slowing prices since early last year, forcing policymakers to cut interest rates to spur growth, even as many developed economies were focused on taming stubbornly high inflation. Data from the National Bureau of Statistics (NBS) showed on Thursday that the consumer price index (CPI) fell -0.8% in January from a year earlier, after a 0.3% drop in December.
The European Union’s climate change monitoring service said on Thursday that the world just experienced its warmest January on record, marking the first 12-month period in which temperatures averaged more than 1.5C (2.7F) above pre-industrial times. Already 2023 was the planet’s hottest year in global records going back to 1850, as human-caused climate change & El Nino, the weather pattern that warms the surface waters in the eastern Pacific Ocean, pushed temperatures higher. The previous warmest January was in 2020, according to the Copernicus Climate Change Service (C3S) records which go back to 1950.
Mutant wolves that roam the human-free Chernobyl Exclusion Zone have developed cancer-resilient genomes, that could well be key to helping humans fight the deadly disease. The wild animals have managed to adapt & survive the high levels of radiation that have plagued the area after a nuclear reactor at the Chernobyl power plant exploded in 1986, in the world’s worst nuclear accident. Humans left the area after the explosion leaked cancer-causing radiation into the environment & a 1,000-square-mile zone was abandoned to prevent further human exposure. In the nearly 38 years since the nuclear disaster, wildlife has returned to the area, including packs of wolves that seem to be unaffected by the chronic exposure to the radiation.
King Charles of the United Kingdom has been diagnosed with cancer it has been announced. The 75-year-old monarch has returned to London from Sandringham to begin treatment immediately. It is not connected with his recent surgery & is not prostate cancer, but medics spotted it when he underwent his medical procedure for an enlarged prostate. The King’s diagnosis will pose serious questions for the working of the monarchy, with fewer working members of the royal family & the Princess of Wales out of action, due to abdominal surgery until after Easter.
Spanish farmers blocked traffic on several major highways & burned tires on Tuesday, joining colleagues in other European countries protesting against high costs, bureaucracy & competition from non-EU nations. Spain’s Agriculture Ministry announced Tuesday it will distribute an extra 269M Euros ($289M) in aid to nearly 140K farmers to help alleviate the impact of the long-running drought & the war in Ukraine.Over the past few weeks, farmers in European countries including Germany, France & Belgium have held protests that sometimes turned violent.
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In this week’s Recap, Marcello talks about how a judge from Delaware voided Elon Musk from receiving his agreed $56B pay package in shares; Tesla Model 3 was the world’s best-selling vehicle in 2023, surparsing Toyota’s Rav4 and Corolla; Google has revealed that a newly developed AI might start reading all your private messages.
The regional bank New York Community Bancorp stock plunged -37.67%, on Wednesday at $6.47 falling to its worst day since it went public in 1993 & another -13.52% at $5.60 early Thursday morning at $5.60. The company reported that it recorded an adjusted Q4 loss of $193M, as well as a $552M provision for credit losses. NYCB took over the failed Signature Bank during the regional bank crisis in 2023. Shares fell -45.31% in 2024 & -46.25% y/y, with a market cap of $4.67B.
According to a company filing on Friday, Amazon founder Jeff Bezos will sell up to 50M shares in the online retail & cloud services firm over the next 1 year. The securities are worth $8.6B at the current price of $171.8 share.The sale plan, which is subject to certain conditions, was adopted on Nov. 8 last year & will be completed by Jan. 31, 2025, according to the company’s latest annual report.
Cocoa settled at its highest price since 1977. Cocoa futures top $5,000 per metric ton on Friday.settling higher for a 6th straight session on Friday.Prices have climbed 15% in January, marking the best monthly gain since November 2020. Traders are worried about another short production year and these feelings have been enhanced by El Niño that is threatening West Africa crops with hot and dry weather. Cocoa prices have been rallying since the spot month contract posted a new four-month high in November 2022.
United Parcel Service plans to cut 12K jobs & explore strategic options for Coyote, its volatile trucking brokerage business, after the world’s largest parcel delivery company forecast full-year revenue below the analysts target. Shares of Atlanta-based UPS fell 8,20% to $145.06 On Tuesday, amid weak demand from its retail, manufacturing & high tech customers. The firm plans to cut $1B in costs, as it comes off a difficult & disappointing year, when volume, revenue & operating profit declined in all of its business segments, UPS, seen as a bellwether for the global economy, does not expect business conditions to improve until the 2nd half of 2024.
The U.S. Labor Department figures: 353,000 non-farm jobs were added in January, with the unemployment rate at +3.7%. Labor participation at 62.5%. January average hourly earnings rose +4.5% year on year. The January jobs report far exceeded the gain of 185,000 jobs & a +3.8% unemployment rate expected by economists. The number of jobs is likely to be revised downward later, according to analysts as has been happening for most of 2023.
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In this week’s recap, global markets experienced mostly positive trends across the board. In 2024, health insurance policies were updated to include new exclusions and expenses not covered, notably citing “treatment of an injury or sickness due to war, declared or undeclared, riot, or insurrection.”
Oil prices rallied to their highest in two months on Friday after a fuel tanker was struck near Yemen, highlighting once again the geopolitical risks to global crude supplies. In contrast, lithium futures prices plummeted as demand for electric vehicles slowed in China, falling more than 80% from its December 1, 2022, high of $85,000 per metric ton to $14,627.73.
China took steps to boost liquidity by cutting the number of reserves banks are required to hold early next month. The reserve ratio requirement for banks was reduced by 50 basis points from February 5, providing 1 trillion yuan ($139.8 billion) in long-term capital. Meanwhile, Turkey’s central bank increased interest rates by another 250 basis points to 45%, with inflation in Turkey reaching 64.8% year-on-year in December.
Florida Governor DeSantis suspended his presidential campaign on Sunday, endorsing his bitter rival Donald Trump. The US revised its sanctions policy against Venezuela after a court upheld a ban preventing an opposition candidate from holding office, sparking debates about negotiating with dictators.
The manufacturing sector in the US hit its highest level in 15 months in January, and the services sector also outperformed expectations. South Korea’s economy grew at a faster-than-expected pace in the fourth quarter of 2023, with GDP expanding by 2.2%. The US Commerce Department reported that the US economy grew at a much more rapid pace than expected in the final quarter of 2023, avoiding a recession that many forecasters had deemed inevitable.
LVMH exceeded forecasts with a 13% organic growth, reaching $86.15 billion (equivalent to $93.34 billion USD). The conglomerate owns renowned brands such as Louis Vuitton, Moët & Chandon, Hennessy, Givenchy, Bulgari, and Sephora. Spirit Airlines appealed a Federal Judge ruling blocking its planned merger with JetBlue, and there are indications that JetBlue may terminate the $3.8 billion merger with the company. Berkshire Hathaway reached all-time highs on Wednesday, achieving a record high of $572,325.80 per share.
Neuralink, a company associated with Elon Musk, faced fines for violating US Department of Transportation rules regarding the movement of hazardous materials. DOT investigators found that the company failed to register itself as a transporter of hazardous materials and engaged in improper packaging of hazardous waste, including flammable liquid Xylene.
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In this week’s Recap, Marcello talks about Tesla Model Y seting a record when it became Europe’s best selling car for 2023; Apple is offering Ultra-Rare discounts on its flagship iPhone 15 in China amid sliding demand fears; The S&P500 has reached an all-time high for the 1st time un 2 years.
According to the Federal Reserve’s Beige Book report released Wednesday. U.S. economic activity over the past 7 weeks has been largely stagnant, with both hiring & prices rising at a modest to moderate pace. The summary of conditions across the Fed’s 12 districts found economic activity to be relatively unchanged since the last report Nov. 29, 2023. From a sector standpoint, housing weakened, as did the demand for mortgages amid elevated interest rates. Companies were reporting that inflation weighed on consumer activity & noted difficulty in pricing power. Wage pressures remained elevated.
Tesla shares fell -1.98% on Wednesday at $215.55, after the U.S. electric vehicle maker slashed prices for its Model Y cars across Europe, not long after announcing similar price cuts in China. The stock is down -13.25% in 2024, but still up +69.50% year on year, with a market cap of $699.08B.
U.K. inflation unexpectedly moved upwards to 4% year-on-year in December, fueled by a rise in alcohol & tobacco prices. Analysts had expected a modest decline in the annual headline Consumer Product Index (CPI) to 3.8%, after November’s sharper than expected fall to +3.9%.The closely watched core CPI figure, which excludes volatile food, energy, alcohol & tobacco prices, came in at an annual +5.1%, above a +4.9% analyst forecast & unchanged from November.
The disruption of the Red Sea as of 1 of the world’s busiest shipping routes, has exposed the vulnerability of China’s export-reliant economy to supply disturbances & external demand shocks. At stake for China now is the danger that firms will reassess their de-risking strategy, opting potentially to shift production closer to home, an approach known as near-shoring. Further Red Sea & issues will pile additional pressure on a struggling Chinese economy, already contending with a property crisis, weak consumer demand & a shrinking population along with sluggish global growth.
Scientists in China on Tuesday announced that they have cloned the 1st healthy rhesus monkey, a 2-year-old named Retro, by tweaking the process that created Dolly the sheep. Primates have proved particularly difficult to clone & the scientists overcame years of failure, by replacing the cloned cells that would become the placenta, with those from a normal embryo. They hope their new technique will lead to the creation of identical rhesus monkeys, that can be experimented on for medical research. However, outside researchers have warned that the success rate for the new method was still very low, as well as raising the usual ethical questions around cloning.
The post January 21: Tesla Best Selling Car Europe, Apple discount IPhone 15, Stocks Record Highs (Recap ep262) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello talks about the new record cold temperatures in a century for Sweden, reaching up to -48.8ºC or -56ºF; The SEC has finally approved the first Bitcoin ETF after a “false tweet” leaked on their official X account; The US debt has reached a level in which the government needs to pay $100B dollars per month in interest only. This is a big warning to the comming months.
Savage winter weather hit much of the U.S. on Tuesday & was forecast to continue through the week in many areas, with forecasters predicting heavy rains up to 3 inches & high winds in the east & several feet of snow for parts of the Pacific NW. High winds & tornadoes ripped through parts of the South with at least three deaths attributed to weather. Tornadoes caused heavy damage in parts of the Florida Panhandle. Storms had taken out power for over 418K homes & businesses in 12 states on Tuesday. Snow will continue on Wed. in the Midwest & Great Lakes region, large portions of which saw blizzard conditions this week.
Voters in Taiwan swept the ruling Democratic Progressive Party’s (DPP) presidential candidate Lai Ching-te into power on Saturday in an definitive rejection of China’s warnings not to vote for him in an election that the Chinese framed as a choice between war & peace. Current Vice President Lai’s DPP, which supports Taiwan’s separate identity & rejects China’s territorial claims, was seeking a 3rd term, unprecedented under Taiwan’s current electoral system.
Shares of the Texas based electric vehicle maker Tesla fell 3.67% on Friday at $218.89, following price cuts on the Model 3 & Model Y in China. The firm also said on Thursday that it will temporarily halt production at its factory in Germany, over supply chain constraints stemming from attacks in the Red Sea. The stock is down -12.83% in the past 3 months & -11.91% in 2024, but remains up +78.83% y/y, with a market cap of $722.31B.
On Tuesday in Ecuador, gunmen with explosives stormed a TV station on-air during a wave of violence around the nation that prompted President Daniel Noboa to name 22 gangs as terrorist organizations, to now be hunted by the military. Police eventually rescued the TV staff & arrested the 13 men who burst into the studio during a live broadcast with long-range guns, grenades & dynamite, according to witnesses in the coastal city of Guayaquil. Elsewhere in Ecuador, at least 7 police officers were kidnapped & there were several explosions.
U.S. banking giants are expected to report lower profits for Q4, after they put money aside to cover non-performing loans, while also paying more to depositors. German automakers like Mercedes-Benz & Volkswagen have warned in recent months that EV sales are not developing as quickly as expected
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In today’s Recap, Marcello talks about a number of Starlink satellites that will allow for cell capabilities anywhere on Earth; A massive police response was reported in a Miami mall after a misterious sight of unidentified walking beings was made. Reports talk about a group of teenagers that let off several fireworks. US federal debt has passed $34T making its payment larger than the whole military budget.
Argentina’s cash-starved government will raise $3.2B in hard currency in order to meet debt repayments via an issuance of 10-year bills to the central bank. The new administration of libertarian president Javier Milei is fighting against the country’s worst economic crises in 2 decades, including inflation ratcheting towards 200%, a lack of foreign currency reserves & rising poverty. While the central bank has built up gross foreign currency reserves since Milei took office in December, analysts estimate that net reserves remain some $8B in negative territory. Argentina recently paid some $920M to the IMF, but faces an upcoming capital payment to the fund for about $1.95B in mid-January.
Local news media said on Friday that the South Korean government has reportedly ordered civilians on the border island of Yeonpyeong to move to shelters, after North Korea fired 200 artillery shells into the sea near the island. Yeonpyeong Island is close to what is known as the “Northern Limit Line,” the de facto maritime border that separates the 2 Koreas, which are still technically at war. None of the shells fired on Friday actually crossed the NLL.
The US has become the world’s biggest exporter of liquefied natural gas (LNG) for the 1st time, with 2023 shipments overtaking leading suppliers Australia & Qatar. The US exported 91.2M metric tons of LNG in 2023, a record for the country. The expanded output was due to last year’s restart of Freeport LNG in Texas, which had been closed for months after a June 2022 fire & explosion. Qatar, the top LNG supplier in 2022, saw its volumes shrink for the 1st time since at least 2016, with a 1.9% decline dropping the nation into 3rd slot for shipments. Australia ranked 2nd, with exports basically unchanged from 2022.
On Friday, the U.S. Supreme Court agreed to take up whether former President Trump can be disqualified from appearing on Colorado’s ballot over his supposed actions surrounding the Jan. 6, 2021, Capitol attack, setting up a historic case that could upend the presidential election. The justices’ order sets the case up to be heard at a speedy pace, with oral arguments scheduled for Feb. 8 & a decision to follow. Dozens of challenges to Trump’s eligibility under the 14th Amendment have been filed nationwide, though many cases have been rejected by lower courts.
Shippers around the world have been switching away from the Red Sea, the shortest route from Asia to Europe via the Suez Canal used by roughly 1/3 of global container ship cargo, after Iranian-backed Houthi militants in Yemen stepped up attacks on vessels in the Gulf region to show their support for Palestinian Islamist group Hamas fighting Israel in Gaza.
It was reported on Friday that Danish shipper giant Maersk which controls 1/6 of global container trade, is now diverting all container vessels from Red Sea routes around Africa’s Cape of Good Hope for the foreseeable future, warning customers to prepare for significant disruption, while German shipper Hapag Lloyd tallied a big increase in costs of diverting ships. It is expected to cost up to $1M extra in fuel for every round trip between Asia and Northern Europe. Higher costs have stirred worries about a resurgence in inflation, particularly in the Euro- zone.
Finland’s record low temperatures this week inspired a tourist on a trip to the Arctic to try throwing boiling water in the air Lauri Untamo, a 49-year-old sales manager from southern Finland, was on holiday in Finnish Lapland with friends when the temperature fell to minus 30 degrees Celsius (-22°F) on New Year’s Day. Lauri said he boiled water in his cabin, quickly brought it outside & threw it in an arc over his head, surviving the attempt without burns as the water immediately turned into an icy cloud that drifted away. The lowest temperature in 25 years was recorded in Finland at minus 44.3 C (-47.74°F) which was recorded on Friday in Enontekio.
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Happy New Year! In this first recap of the year, Marcello talks about the great overall performance of the US markets and stocks, with Nvidia reaching +241% due to its heavy presence in the AI scene. A new strain from the last pandemic might be arising and causing a global “heart failure pandemic,” according to some experts. The state of Maine has ruled through its secretary of state, Shenna Bellows, that Trump is constitutionally inelegible on the state’s primary ballot in 2024.
Ethiopia, Africa’s 2nd most populous country, became the continent’s 3rd loan default in as many years on Tuesday, after it failed to make a $33M payment on its only international government bond. It had announced earlier this month that it intended to formally go into default, having been under severe financial strain in the wake of the COVID-19 pandemic & a 2-year civil war that ended in November 2022.
The world’s 2nd-largest container line A.P. Moller-Maersk A/S, said it’s preparing to resume shipping through the Red Sea, thanks to a new multi-national maritime task force to protect vessels from attacks by Houthi rebels from Yemen. “We are currently working on plans for the first vessels to make the transit and for this to happen as soon as operationally possible,” the company said Sunday in an advisory. The shipping & logistics company however, noted in a customer advisory, that the overall risk in the area is not eliminated & it could again initiate diversion plans if there are further safety concerns.
Higher food prices in recent years, have prompted farmers globally to plant more cereals & oil-seeds, but consumers are set to face tighter supplies well into 2024, amid adverse El Nino weather, more export restrictions & higher overall biofuel mandates. Global wheat , corn & soybean prices, after several years of strong gains, are now headed for losses in 2023, on easing Black Sea bottlenecks & fears of a global recession, although prices remain vulnerable to supply shocks & food inflation in 2024.
U.S. Energy Information Administration (EIA) data showed strong oil demand in October.
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In today’s recap, Marcello talks about how Warren Buffet is selling billions of dollars from his stocks; Another conflict is arising in the Middle East and putting in danger the shipping procedures that go through the Suez Canal; and Tesla is delivering a new water package for its Cybertruck to make it work in water.
Argentine President Milei Wednesday signed a decree outlining economic reforms including an end to limits on exports, plus measures to loosen regulations, as his new govt combats a severe economic crisis. Among the reforms are plans to privatize state-owned firms, but he did not name specific firms. His govt, which has devalued the local peso currency by over +50%, plans to hike taxes for Argentina’s grains exports which are a key source of global supply for processed soybeans, corn & wheat. Grains exports remain a crucial source of foreign currency reserves for the central bank, needed to finance imports & pay down debts.
The U.S. Labor Department reported Thursday that the number of Americans applying for unemployment benefits rose slightly last week, but still remained at historically low levels, despite high interest rates intended to slow hiring & slow down the economy. Jobless claims were up by 2,000 to 205K the week that ended Dec. 16. The 4-week average of claims, which smooths out week-to-week ups & downs, fell by 1,500 to 212K. Overall 1.87M Americans were collecting jobless benefits the week that ended Dec. 9, little changed from the week before. Unemployment claims are a proxy for layoffs.
Amid ongoing speculations of Federal Reserve Bank interest rate cuts, gold prices stabilize near the $2,050 range, while copper nears a 4-month high on further Chinese stimulus hopes.
Warner Bros Discovery CEO David Zaslav met with Paramount Global CEO Bob Bakish to discuss a potential deal between the 2 media companies, it was reported on Wednesday. Zaslav has also spoken to Shari Redstone, who owns Paramount’s parent company, about a deal. It is unclear whether Warner Bros would buy Paramount Global or its parent company, National Amusements Inc (NAI). Paramount is controlled by the Shari Redstone-led media company that owns 77% of Paramount’s Class A voting shares. Talks between Warner Bros & Paramount are still early, and may not ultimately result in a deal.
Oil posted the biggest weekly gain since October, as attacks in the Red Sea forced 100’s of ships to take safer but far longer (+40%) routes, thus delaying the delivery of oil cargoes.
FedEx shares plunged -12.05% on Wednesday at $246.25, after the U.S. package delivery behemoth cut its revenue outlook due to weaker demand.
Social media platform X, formerly known as Twitter, was restored globally early Thursday, with over 77K U.S. users facing issues at the peak of the outage, according to Downdetector data. Users in Canada, France, the U.K. & other countries reported issues with accessing both X & X Pro, earlier known as TweetDeck. Over 7K users in Canada & the U.K. experienced issues with the platform. Downdetector tracks outages by collating status reports from several sources including users.
An artifact stolen from Pompeii, has been recovered from a family home in Belgium. For the past 50 years, it has been installed in a wall lining the staircase leading down to the basement. The son of the home’s owner, Geert de Temmerman, explained that it had been brought back from Italy as a souvenir as a result of a family vacation where his father was offered the marble relief sculpture by an anonymous man, who then fled the scene as soon as the deal was over. Dating from about 62 C.E., depicting an earthquake that happened that same year
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In this week’s Recap, Marcello talks about a warning shared by the UK about possible future blackouts in the country; Mark Zuckerber, the head of Meta, is reportedly building a massive underground bunker and escape hatch inside a $270 million fortress in Hawaii; Coinbase is set to sue the SECfollowing the denial of transparent crypto regulation.
Argentina to weaken its peso over 50% to 800 per dollar, cut energy subsidies & cancel tenders of public works, new Economy Minister Luis Caputo announced on Tuesday, beginning the economic shock therapy aimed at fixing the country’s worst crisis in decades. Caputo said the plan would be painful in the short-term, but was needed to cut the fiscal deficit & bring down triple-digit inflation. He said the country needed to tackle a deep fiscal deficit he put at 5.5% of GDP, adding Argentina had a fiscal deficit for 113 of the last 123 years, the root cause of its economic woes.
On Wednesday, representatives from nearly 200 nations agreed at the COP28 climate summit to begin reducing global consumption of fossil fuels, to avert the worst of climate change, a 1st of its kind deal signaling the eventual end of the oil age.The deal struck in Dubai after 2 weeks of hard-fought negotiations was meant to send a powerful signal to investors & policy-makers that the world is united in its desire to break with fossil fuels, something some scientists insist is the last best hope to stave off a climate catastrophe.
Oil prices ended lower on Friday, but still notched their 1st weekly rise in 2 months after benefiting from a bullish forecast from the International Energy Agency (IEA) on oil demand for next year & a weaker dollar.
The U.S. economy accelerated at a 5.2% rate in Q3. Though growth is now cooling, most economists do not expect a recession right now, with the labor market continuing to push out jobs at a healthy clip.The Atlanta Fed is forecasting U.S. GDP to rise at a +1.2% rate in Q4, below what Fed officials regard as the non-inflationary growth rate of around +1.8%. October-December growth is also seen restrained by a wider trade deficit & slower inventory accumulation.
U.S. Labor Department on Thursday showed initial claims for state unemployment benefits dropped 19K to a seasonally adjusted 202K for the week ended Dec. 9. Economists had forecast 220K claims for the latest week. The number of people receiving benefits after an initial week of aid increased 20K to 1.876M during the week ending Dec. 2, the claims report showed. Continuing claims have mostly increased since mid-September, blamed largely on difficulties adjusting the data for seasonal fluctuations after an unprecedented surge in filings for benefits, early in the COVID-19 pandemic.
According to data from the World Federation of Exchanges. India’s stock market value has overtaken Hong Kong’s to become the 7th largest in the world, as investor optimism about the country’s economic prospects grows.
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The week began with Sri Lanka experiencing a nationwide power outage attributed to a system failure. Meanwhile, a foreboding sentiment emerged as experts warned that the current Christmas season might be the last celebrated in what we perceive as ‘normal’ times. The World Economic Forum added to this sense of unease, predicting that 2024 could bring about “cataclysmic” changes. Further aggravating the situation, a report highlighted a significant shrinkage of the middle class, with only the top 30% of households affording what was once within reach of the top 60% in past decades.
In the commodities market, Saudi Arabia announced a daily production cut of 2.2 million barrels as part of OPEC+. Concerns about oversupply led to the possibility of deeper supply cuts in the first quarter of 2024, and the crude market experienced its lowest levels since late June. Retail gas prices hit their lowest point since January, just ahead of the holiday season. The complex dynamics of the oil market, including a stronger-than-expected US jobs report and plans to refill the Strategic Petroleum Reserve, resulted in the longest weekly losing streak since late 2018.
Financial news featured YouTube personality Logan Paul’s announcement of a $1.5 million plan to compensate investors after his CryptoZoo NFT project experienced a rug pull. In the UK, house prices rose for the second consecutive month, albeit still 1% lower than the previous year. India’s central bank held its key lending rate for the fourth consecutive time as inflation slowed for three straight months, while Russia’s upcoming elections could see Putin retain power until 2030.
On the political front, India’s ruling Bharatiya Janata Party secured victories in regional votes, providing a significant boost to Prime Minister Narendra Modi ahead of the upcoming national election. Venezuelan President Maduro won a sought-after referendum regarding sovereignty over the oil-rich region of Essequibo, though lackluster turnout suggested a declining government influence. Additionally, Putin’s announcement of running for a fifth presidential term in Russia’s 2024 elections drew attention, potentially extending his tenure until 2030.
Economic indicators presented a mixed picture as job openings in the US fell to the lowest level since March 2021, while Japan’s GDP shrank. Corporate news highlighted the struggles of companies like Virgin Galactic, Alaska Air Group, and Shopify, each facing unique challenges and market responses. Meanwhile, Google faced scrutiny for misleading AI presentations, and the European Union took steps to regulate AI use, including in biometric surveillance and systems like ChatGPT.
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In today’s recap, Marcello talks about the first official delivery of Tesla’s renamed Cybertruck, which is now also known as Cyberbeast due to its characteristics and performance; Charlie Munger, Warren Buffet’s friend and business partner, has died at 99 years old; Cristiano Ronaldo, the world-famous football (soccer) player, is being sued for over one billion dollars due to his participation in promoting Binance.
Henry Kissinger, the dominant U.S. diplomat of the Cold War era who helped the U.S. open up to China, forge arms control deals with the former USSR & end the Vietnam War, died at the age of 100 on Wednesday at his home in Connecticut. Kissinger was at the height of his powers during the 1970’s in the midst of the Cold War, when he served as National Security Adviser & Secretary of State under Republican President Richard Nixon. Kissinger, a German-born Jewish refugee whose career took him from academia to diplomacy & who remained an active voice in foreign policy far into his later years.
OPEC+ alliance announced roughly 900K barrels a day of fresh output cuts for next year, but the curbs are voluntary, with Angola already rejecting its quota. In the US, the oil rig count increased by five in the most recent week, signaling a continued increase in the country’s already-record output.
In an exciting recent auction at Christie’s, a Claude Monet which had been held in a private collection for 50 years came to light, selling for an impressive $74,010,000.
The mystery of how the Egyptian pyramids were built may have finally been solved thanks to the discovery of an ancient branch of the Nile river that once flowed through Giza. 100’s of meters wide, the enormous waterway has long since dried up, but could have provided transportation for the colossal amounts of material & workers needed to construct the iconic landmarks 1000’s of years ago.
Heavy snowfall in Bavaria, Germany prompted an all-day cancellation of flights & long-distance trains out of Munich the capital
A senior U.S. State Department official said that Russian President Vladimir Putin won’t make peace in Ukraine, before he knows the results of the November 2024 U.S. election; According to the Commerce Department’s 2nd estimate, released on Wednesday U.S. economic growth was even stronger in Q3 than previously estimated.
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In today’s Recap, Marcello talks about a 4-day cease-fire agreement between Israel and Hamas to exchange prisoners; Thanksgiving turkey dinner is 30% more expensive since Biden took office. Argentina has elected libertarian Gabriel Milei as its next president, and he promises to change heavily the way the country has been governed over the last decades.
The U.S. home device maker iRobot shares surged +39.08% on Friday at $41.48. The jump came after it was reported, that Amazon is about to win regulatory approval in the European Union to go forward with its planned $1.4B acquisition of the company.
The Monetary Authority of Singapore says the country will put into place tighter rules for cryptocurrency service providers, after feedback on its proposed regulations. In a statement on Thursday, the MAS said that the measures are set to limit potential consumer harm & will take effect in phases starting in mid-2024. The measures to include barring crypto service providers in Singapore from accepting locally issued credit card payments, offering incentives to trade in cryptocurrencies, as well as providing financing, margin or leverage transactions for retail customers.
Irish police guarded looted stores & firefighters dealt with smoldering vehicles in the heart of Dublin’s city center early Friday, after the stabbing of 3 young children sparked a night of rioting rarely seen before in the capital. It took officers several hours to regain control, after the crowd grew to around 200 – 300 people. Police blamed far-right agitators for starting the violence, after a small group of anti-immigrant protesters arrived at the scene of the stabbing attack beside the main thoroughfare of O’Connell Street & clashed with police.
Dutch anti-Islam, anti-EU populist politician Geert Wilders seems set to become the Netherlands’s next prime minister after his Freedom Party (PVV) was leading the exit polls in the parliamentary election on Wednesday. Beating all predictions, the exit poll put Wilders’ Freedom Party (PVV) at 35 out of 150 seats, 10 seats ahead of the closest rival, former EU Commissioner Frans Timmermans’ Labour/Green Left combination. That margin was far more than expected & appeared to be too great for the outcome to change.
Gunung Padang, a megalithic structure in West Java, Indonesia, may be the world’s oldest pyramid. Recent research suggests the ancient site may predate Egypt’s famous pyramids & is even older than the stone structures of Turkey’s Gobekli Tepe. A team of archaeologists, geophysicists, geologists & paleontologists affiliated w/multiple institutions in Indonesia, found evidence showing that Gunung Padang is the oldest known pyramid globally. Led by a team at Indonesia’s National Research & Innovation Agency, the research suggests that Gunung Padang dates back to the last Ice Age, around 25K to 14K years ago.
Japan’s factory activity remained in contraction territory in November; Germany has been among the weakest economies in Europe in 2023; China’s property market, which makes up a substantial portion of the country’s economy, needs more government support to prevent it from deteriorating further.
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In this recap, Goldman Sachs’ David Kostin reports resilience in S&P 500 Q3 earnings per share, marking the first growth since last year. Meanwhile, a significant development emerges from Switzerland, where a systematic review has prompted the banning of mammograms due to uncertainties about their effectiveness, false positives causing harm, and unfavorable cost-effectiveness ratios in screening programs.
Commodities make waves with a Texas study revealing that the hidden costs of fueling electric vehicles far outweigh the upfront savings, equivalent to roughly $17 per gallon. Additionally, Rolex and Patek prices hit a two-year low, while US beef prices reach record highs, driven by a shrinking cattle herd and challenges faced by ranchers amid years of drought and high feed costs. A surprising twist unfolds as a coal mine in Wyoming, purchased 12 years ago, might hold a treasure trove of rare-earth elements, potentially becoming America’s first new source since 1952.
In Financial & Banking News, the US experiences flat October inflation, offering a glimmer of hope for easing high prices. Swiss banking giant UBS predicts a significant Fed rate cut of up to 275 basis points in 2024, diverging from market consensus, as concerns of a US recession loom. On the other side of the Atlantic, UK inflation falls sharply to 4.6%, a two-year low from the previous month.
Political News highlights New York’s Governor monitoring social media for hate speech, China’s ambitious construction of two coal plants per week, and massive protests in Spain following a controversial deal by Socialist Pedro Sanchez to grant amnesty to Catalan separatists. Critics accuse him of jeopardizing the rule of law for personal political gains.
Corporate News sees SpaceX launching Falcon Heavy, OpenAI (ChatGPT) firing and potentially rehiring CEO Sam Altman, Citigroup planning major layoffs, and Tesla shares rallying after unveiling updated terms for Cybertruck agreements. Notably, buyers are restricted from selling the vehicle within the first year without permission, facing potential legal consequences and a possible ban on future Tesla purchases.
In Trade News, Singapore’s non-oil domestic exports continue to decline, albeit at a slower pace, with a -3.4% fall in October. The slump is attributed to a slowdown in exports to key markets such as Taiwan, the U.S., and South Korea.
International Events unfold as Iceland declares a state of emergency, urging residents to evacuate a coastal town due to intense earthquakes linked to a potential volcanic eruption. In the realm of Interesting Facts, archaeologists discover a pyramid structure in Kazakhstan dating back over 3,000 years, while Alaska’s largest city declares a ‘snow emergency’ after a record snowfall of 65 inches in less than 24 hours, causing widespread disruptions.
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In today’s recap, Marcello talks about Grok, the new AI that Elon Musk unveiled. After thirty years, McDonald’s is being forced to close due to an implosion in downtown San Francisco. US Treasury trading was interrupted by an unanticipated cyberattack.
U.S. wheat shipments dropped to the lowest ever, interrupted by a shrinking Mississippi River & competition from ample global grain supplies. Drought has dried up the Mississippi, where roughly 2/3 of US grain exports historically have been shipped on barges to the U.S. Gulf of Mexico. The water levels have improved slightly from last month’s record low, but the world’s crop buyers have already been purchasing more supplies from elsewhere. It is limiting demand for U.S. grain & has contributed to the country losing its status, as the shipper of choice as U.S. wheat exports plunge to a 20 year low.
Stockpiles of premium coffee beans on world’s biggest arabica exchange have plummeted to lowest levels since 1999, as some sellers race to take advantage of a closing loophole. Although falling inventories held in global warehouses monitored by Intercontinental Exchange Inc. would normally signal soaring demand or a dip in supplies, the +20% plunge seen appears to be a strategic move ahead of a crucial Dec. 1 rule change. Some sellers, looking to avoid an age penalty meant to discourage lengthy coffee storage have pulled older beans off the exchange to resubmit them for a new round of certification, making the coffee appear fresh.
The U.S. based trading platform Robinhood stock fell -14.29% on Wednesday at $8.36 after missing revenue estimates in Q3 even after rising +29%. Robinhood posted $467M in the quarter, below analysts’ estimate of $480M. Revenue was hurt by a 13% decline in 3rd quarter transaction revenue tied to stock trading, compared with the same period last year. Robinhood also reported fewer monthly active users, which fell -16% to 10.3M in the 3rd quarter from the same period last year. Shares are down -22.04% in the past 3 months, but up +2.76% in 2023. The stock is down -9.76% y/y, with a market cap of $8.89B.
Crude production in the U.S. this year will still rise, but by slightly less than previously expected. US crude oil field production is at a current level of 13.20M. Data from China, the world’s biggest crude oil importer, showed its total exports of goods & services contracted faster than expected, fueling worries about the energy demand outlook. In the Eurozone, data indicated falling retail sales, also underscoring weak consumer demand & the prospect of recession.
Shares of Disney rose +6.91% on Thursday at $90.34. The multi media conglomerate expanded its cost cutting measures by $2B & reported stronger-than-expected adjusted earnings for the fiscal 4th quarter. However, revenue fell short of expectations. Disney said its net income jumped +63% to $264M in the quarter that ended Sept. 30, up from $162M a year earlier. Its adjusted earnings per share, excluding items largely related to the amortization of Disney’s acquisitions of 21st Century Fox’s entertainment assets & Hulu, more than doubled to $0.82 in the quarter. Analysts had been expecting $0.71 a share.
Shares of U.S. based Virgin Galactic Holdings rallied +19.23% on Thursday, at $1.86, a day after the company announced its cost savings initiative, which included pausing spaceflight operations next year. It also laid off 185 employees (18% of its workforce). The firm has been spending heavily to expand its fleet beyond the current sole VSS Unity spacecraft. It posted a net loss in Q3 of $104.6M, or -$0.28 a share, vs a loss of $0.43 a share expected. It generated $1.7M in revenue during the quarter, up from $767K from a year prior.The stock is still down -46.55% in 2023 & -66.18% year on year , with a market cap of $572.73M.
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In this week’s Recap, Marcello talks about the greenlight that was given to Tesla to build a Gigafactory in Mexico, which is on hold due to concerns about the global economy; Jeff Bezos is moving to Miami; and Japan is banning commercial American cereal snacks that are “causing people cancer”.
Danish shipping giant Maersk founded in 1904 shares & a bellwether for global trade, plunged -15.43% on Friday at $7.29, to its lowest level since October 2020, after stating profits will come in at the low end of guidance & announcing 10,000 job cuts. Q3 revenue dropped from $22.8B in 2022 to $12.1B. The job cuts, which will see its headcount reduced from 110K in early 2023 to below 100K, are expected to result in savings of $600M in 2024 compared with 2023. The stock is down -34.96% in 2023 & -24.82% y/y, with a market cap of $28.29B.
Oil fell for the 2nd consecutive week after the risk premium from the Israel-Hamas war vanished, with the market responding to signs of lower demand. It came after the leader of Iran-backed militant group Hezbollah said it didn’t know about the Oct. 7 attack, reinforcing a view that the war may well remain contained.
WeWork shares plunged -46.49% on Wednesday at $1.22, & another -9.02% on Thursday at $1.11, following a report that the shared NYC based workspace company is planning to file for Chapter 11 bankruptcy protection as soon as next week. The stock, which reached a high of $130.80 this year, is down -87.62% in the past 3 months, -98.06% in 2023 & -98.94% y/y, with a market cap of $64.97M.
Canadian based e-commerce firm Shopify shares +22.36% Thursday at $59.70, highest levels since May, after it beat on the top & bottom lines for Q3, driven by strict cost controls & adoption of artificial intelligence to attract more merchants to its services.
Archaeologists studying an ancient site in the North Sea say they have found a “feat of engineering” nearly 1,000 years older than the famed pyramids of Egypt. The site was initially built around 3,000 BC. Located on the remote British island of Orkney, the find included Neolithic architecture that was considered well ahead of its time, as well as 14 skeletons, offering a glimpse into the builders of this ancient site. The tomb would have been an immense feature in the landscape when it was originally constructed & the stonework inside would have been very impressive.
Fewer US jobs were created in October at 150K vs the 180K expected; U.S. manufacturing contracted sharply in October after showing signs of improvement in prior month.
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In today’s recap, Marcello talks about an upcoming must-have permission from Europe for all American citizens planning to visit Europe in Spring 2025. A visa won’t be required, but you would need to apply for permission in advance. Elon Musk has offered $1 billion to Wikipedia to change its name to Dickipedia in the interest of accuracy. Israel has expanded its military ground activity in Gaza.
U.S. consumer spending increased more than expected in Sept. at a sharp 0.7%,vs 0.5% forecast, as households boosted purchases of motor vehicles & traveled, keeping spending on a higher growth path. Outlays grew a robust +4% in Q3, biggest increase since 2019. Heading into what economists expect will be a challenging Q4, it showed monthly underlying inflation picking up last month, but it was largely driven by housing costs. Spending seen cooling off in early 2024, as excess savings accumulated during the pandemic run out, most economists believe the Fed is done raising interest rates, though risks of a rate hike remain.
The Japanese still haven’t quite gotten over China surpassing their economy in gross domestic product (GDP) terms which happened 13 years ago. This week, the International Monetary Fund (IMF) calculated that Germany’s nominal GDP is on track to surpass Japan’s this year. That would push Japan from No 3 to No 4 globally it speaks to the weakness of the Japanese economy & the collateral damage from a now backfiring 25-year-old weak yen policy.
United Auto Workers (UAW) union reaches a tentative labor deal with Ford, the 1st of Detroit’s Big 3 car manufacturers, to negotiate a settlement to strikes joined by 45K workers since mid-Sept. It provides a +25% wage hike over the 4-1/2-year contract, starting with an increase of +11%. The Ford deal, which may help create a template for settlements of parallel UAW strikes against General Motors & Chrysler parent Stellantis, will amount to total pay hikes of over +33%, when compounding & cost-of-living mechanisms are factored in.
Scientists have unearthed something remarkable at several ancient Roman archaeological & construction sites, revealing artifacts coated in a naturally formed substance with unique modern technological potential. Fragments of ancient Roman glass vessels, having shattered long ago offer much more than just beautiful colors Engineering professors have learned that the molecular structure of these tiny Roman glass shards become rearranged over 1000’s of years, resulting in the formation of what physicists call photonic crystals which can produce unique optical effects in the way they filter & reflect light.
Oil rose the most in 2 weeks after Israel’s military said it was expanding ground activity in Gaza Friday evening; energy giant BP’s electric vehicle charger unit is ordering $100M worth of Tesla’s ultra-fast chargers for roll-out in the U.S.; The interest rate on the most popular U.S. home loan last week jumped to the highest since September 2000.
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In today’s Recap, Marcello talks about the escalation of the armed conflict between Israel and Palestine and explains briefly the effects of this confrontation while not taking any sides. Due to the fall in value of Tesla’s stock, Elon Musk has lost $16 billion of its fortune; the Chinese Yuan has surpassed the Euro and became the world’s second most used currency for SWIFT trade settlements.
The war between Israel & the Palestinian group Hamas that began Oct 07, has already spilled into the wider region & risks expanding further, with Iran backing an array of heavily armed groups. Hamas & its Palestinian ally Islamic Jihad are part of an Iran-backed alliance called Axis of Resistance. Iran’s Revolutionary Guards warned Tuesday of further action by Iran’s allies against Israel, if it did not cease its attacks. Since the Hamas attack on Israel on Oct. 7, Hezbollah has also been trading fire with Israeli forces in the most serious escalation across the Lebanese-Israeli frontier since 2006, when Hezbollah & Israel fought a war.
The Texas based electric vehicle maker Tesla shares plunged -9.3% Thursday at $220.11, after the firm missed earnings & revenue expectations for Q3. Earnings per share came in at $0.66 vs $0.73 forecast. Revenue was posted at $23.35B vs the projected $24.19B. A number of analysts lowered their price targets on the company following the disappointing results, citing more margin pressure likely ahead. The stock is down -15.35% in the past 3 months, but up +78.69% in 2023 & +2.64% y/y, with a market cap of $770.26B.
Headline inflation in Japan came in at +3% for September, slowing from the +3.2% rate in August, but the print was the 18th straight month that inflation remained above the Bank of Japan’s 2% target. Core inflation,which strips out prices of fresh food, also slowed to +2.8%, down from +3.1% in August. Separately, the so-called core-core inflation metric, which strips out prices of fresh food & energy, fell to +4.2% from +4.3% in August.
A U.S. bumper harvest of corn, likely to be the 3rd largest ever, will strain storage capacity & hold down prices of the world’s most traded commodity crop. This will benefit customers who will pay less for corn used to feed livestock, dairy cows & egg-laying chickens or to make ethanol biofuel. However, it will squeeze profits for farmers, who will store corn & hope for new demand from exports or new domestic uses.There could be 50% more corn in storage when the harvest starts in 2024 than when it started this year, the biggest single-year jump in supplies in nearly 2 decades.
Turmoil in the Middle East is keeping investors on edge & gold is one of the first assets to react thus rising above the critical psychological level of $2,000 an ounce & trading near 2.5-month highs on Friday; The U.S. Labor Department on Thursday reported that the number of Americans filing new claims for unemployment benefits fell to a 9-month low last week; A system incident halted trading in 100’s of shares on the London Stock Exchange.
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This week’s headlines were dominated by the escalating conflict between Israel and Palestine, casting a shadow over other global events. The situation saw oil prices surge nearly 4% after Hamas’ unexpected attack on Israel, an act that threatened to further destabilize the Middle East. The Israeli economy felt the heat as the Shekel plunged to its lowest value against the USD since 2016. In a bid to bolster its currency, the Bank of Israel has revealed plans to offload its foreign reserves. Moreover, Israel’s responsive action involved shelling South Lebanese towns after a rocket assault.
In economic news, the US Consumer Price Index (CPI) saw a significant rise in September by 0.4%, accumulating a year-on-year increase of 3.7% due to mounting pressures from high gas and rent prices. Concurrently, the Producer Price Index (PPI) also ascended by 0.5%, suggesting forthcoming interest rate hikes by the Federal Reserve. Revelations about undesirable elements in popular fast foods, especially the detection of glyphosate in 95% of school lunches, became a cause for concern.
In the crypto realm, the anticipated approval of Spot Bitcoin ETFs has climbed to a promising 90%. Yet, the cryptocurrency landscape faced a hiccup as the crypto broker, Genesis, put a hold on withdrawals. In the backdrop of this, Bitcoin’s value dipped by almost 4% to stand at $26,892.00. Global commodities felt the tremors of the Middle East conflict, leading oil prices to soar by nearly 4%. The precious metals market also sparkled as both gold and silver prices saw significant hikes, marking their most lucrative day this year.
Financial highlights revealed the US debt skyrocketing at an alarming rate of $1.2 billion every hour. The Middle East crisis caused a significant dent in the Israeli economy as the Shekel touched its lowest mark against the USD since 2016. Political circuits buzzed with news of Vladimir Putin’s probable re-election and Robert F. Kennedy Jr.’s decision to leave the Democratic party and take the independent route. The UK’s retail landscape showed resilience with a 2.7% rise in sales for September, although still lagging behind the annual average.
On the corporate front, big names like Apple, PepsiCo, Samsung, and LVMH captured attention with their stock sales, profit fluctuations, and unexpected shifts in growth trajectories. The technological horizon saw Amazon stepping up its game, poised to challenge SpaceX’s Starlink by introducing prototype satellites for its Kuiper internet network. International events painted a grim picture as the animosity between Hamas and Israel escalated with major confrontations. Natural calamities also made their mark with Afghanistan reeling from a devastating earthquake and Italy on high alert due to continuous seismic activities near the Campi Flegrei supervolcano. The Baltic Sea’s infrastructure faced potential disruptions with damages to its gas pipeline and telecom cable connecting Finland and Estonia.
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In today’s Recap, Marcello talks about the heartbreaking news of the Israeli-Palestinian conflict’s sudden escalation, which resulted in multiple attacks; Tesla’s decision to cut prices once more in an effort to boost sales; and the possibility of the beginning of a housing market collapse as a result of the US’s highest mortgage rates in almost 23 years.
Palestinian Islamist group Hamas took Israel by surprise on Saturday, with the biggest attack for decades, a sudden assault by gunmen who crossed into Israeli villages, killing at least 100 people & bringing hostages back into the Gaza Strip. Israel responded with massive air strikes deep inside the coastal enclave, killing scores & wounding 100’s of people & vowing unprecedented retaliation. Hamas leader Ismail Haniyeh said the assault that had begun in Gaza would spread to the Jerusalem & the West Bank.
U. S. Labor Department on Friday: Job growth was heftier than expected in September, a sign that the U.S. economy is still strong, despite higher interest rates, labor strife & dysfunction in Washington. Non-farm payrolls increased by 336K for the month, better than the consensus estimate for 170K & more than 100K higher than the previous month. The unemployment rate was 3.8%, compared to the forecast for 3.7%. The payrolls increase was the best monthly number since January.
After an unbroken string of 9 session losses, since the Federal Reserve left interest rates unchanged on Sept. 20 & after the U.S. payrolls report drove the spot price down to a fresh 7-month low of $1810.46, gold finally had its 1st positive close in 2 weeks on Friday. It was the longest daily losing streak in 7 years, with prices hovering near their lowest levels since March.
Shares of U.S. based Rivian Automotive plunged -22.88% on Thursday at $18.27, its largest percentage drop on record, after the electric vehicle maker announced plans to raise $1.5B in convertible notes & as it offered preliminary Q3 revenue guidance roughly in line with analyst expectations. Rivian said it anticipates revenue to range between $1.29B & $1.33B, versus the $1.3B forecast by analysts. Shares are down -15.49% in the past 3 months, -0.87% in 2023 & -50.30% y/y, with a market cap of $22.47B.
European Union leaders will discuss how to reform the 27-nation bloc to take in new members at a summit in Granada, Spain on Oct. 5-6, launching a long process to prepare the E.U. for another enlargement by a tentative deadline of 2030. The countries now slated for membership: Albania, North Macedonia, Montenegro, Moldova, Serbia, Ukraine, Bosnia-Herzegovina, with the possibility of Georgia & Kosovo as well.
Meta Platforms, the parent firm of Facebook & sunglasses maker, Ray-Ban, have partnered to create a new & improved pair of AI-powered sunglasses that can record & make calls. Meta claims the camera built into the next-generation glasses can snap photos or record 1080p video. Metareports that the Ray-Ban Meta smart glasses are designed wi/improved audio. Meta AI, an integrated artificial intelligence assistant has been built into the smart glasses as well, to provide hands-free help. The starting price for the new Ray-Ban Meta smart glasses is $299.
A family in Norway unearthed more than they were expecting when they used a metal detector to search their yard for a lost earring. Instead of finding the modern jewelry, they detected a signal beneath a large tree behind their house. And when they dug down, they discovered relics from a Viking burial, 2 bronze ornaments that experts say were once covered in gold. The artifacts may be the first Viking Age (A.D. 793 to 1066) finds on the island of Jomfruland, thus confirming that people lived there at that time.
Oil prices rose on Friday, but posted their steepest weekly losses since March; Russia’s government on Friday said it had withdrawn a ban on diesel exports delivered to sea ports via pipelines, removing a large chunk of restrictions it put in place last month; Long-term U.S. mortgage rates continued to move up this week, reaching the highest level in a generation once again.
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In this week’s recap, Marcello talks about the U.S. presidential hopeful Robert F. Kennedy Jr. shift from his Democratic Party bid to run as an independent and a leading volcanologist has warned that mass evacuations might be needed in a town close to Naples, Italy which sits on a so-called Super Volcano that has been hit by 100’s of small earthquakes in recent weeks.
U. S. presidential hopeful Robert F. Kennedy Jr. will announce he is running as an independent instead of pursuing his bid to oust President Biden as the Democratic Party nominee, a shift that will complicate the 2024 election. Anti-vaccine activist Kennedy, a member of a Kennedy U.S. political dynasty, posted a video on YouTube on Friday asking Americans to join him for a major announcement in Philadelphia on Oct. 9.
Argentina battling a looming recession & dwindling reserves of foreign currency saw poverty hit 40.1% in the 1st half of 2023, or nearly 12M people, official data on Wednesday showed. That is up from just over +39% at the end of last year. The crisis has hammered the center-left Peronist government & its presidential candidate, Economy Minister Sergio Massa, while anti-establishment right-wing candidate Javier Milei is way up in the polls. Conservative Patricia Bullrich makes up the trio of front-runners ahead of the Oct. 22 vote.
The market for gold bullion in China has surged this month, at times commanding a record premium over international prices of more than $100 an ounce, compared with an average over the past decade of less than $6. On Wednesday, an ounce of gold in Shanghai cost $2,007, about 6% higher than the price in London or New York, according to analysts. It is being caused by rising demand among investors & everyday citizens who are dealing with a domestic property crisis, a falling yuan & tumbling bond yields as the government attempts to stimulate the economy.
Auto company sources say President Biden’s support for a 40% pay hike may make it harder to reach a compromise with the UAW. Talks are not advancing this week as attention is focused on Biden & Trump, they said. Tesla CEO Elon Musk weighed in on social media platform X, saying the 40% pay hike & shorter work hours (from 40 to 32) are a sure way to drive the major auto companies bankrupt. Tesla’s factories in contrast to date, are not unionized.
Austria, France, Germany, Poland & Switzerland announced their hottest Septembers on record on Friday, in a year expected to be the warmest in human history as supposed climate change accelerates. Higher temperatures are likely to be on the horizon as the El Niño weather phenomenon,which warms waters in the southern Pacific & beyond, has only just begun.
New York City experienced torrential downpours on Friday, after a week of mostly steady rainfall bringing about flash flooding to the city, disrupting subway service, inundating ground-level apartments & turning some streets into small lakes. Almost 8 inches (20 cm) of rain fell in some parts of the most populous city in the U.S., enough to enable a sea lion at Central Park Zoo to swim briefly out of the confines of her pool enclosure. Another few inches could fall in the region, before the storm system will be pushed out to sea later in the evening, according to forecasters.
Gold is seeing its worst monthly losses since February;Germany to introduce new border controls with Poland & Czech Republic.
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In this week’s recap, Marcello talks about how the electromagnetic wave emissions coming from the iPhone 12 have been tagged as risky, and therefore they have been pulled out of the market in Europe. Inflation is still on its way up, and the federal reserve of the US is keeping its interest rates at the same level.
The possible U.S. government shutdown that some Republicans are insisting might be necessary, could slow 1 of their other priorities which is the recently launched impeachment inquiry of Democratic President Joe Biden. Republican House of Representatives Speaker Kevin McCarthy launched the inquiry on Sept. 12, an escalation after months of probes into Biden’s son, Hunter Biden, with the first hearing set for Sept. 28, two days before the shutdown deadline. The inquiry is focused on Biden’s son Hunter’s foreign business dealings. House Republicans alleged that the elder Biden benefited from his son’s work.
Oil surged to a 10-month high on Tuesday after rising on Monday, extending a powerful rally that is rekindling inflation, as supply cuts from OPEC+ further tightens the market & Saudi Arabia’s energy minister demurs away from any change in course. Global benchmark Brent topped $95 a barrel, for the 1st time since November. The tighter market is bringing predictions that $100.00 a barrel for crude, could soon return.
Germany is likely to generate +50% of its power from renewable energy this year, but needs to ramp up the speed of its transition towards the end of the decade, Economy Minister Habeck said Monday. With demand for electricity on the rise, renewables will have to account for 80% of power generation by 2030. The economy minister, whose portfolio includes energy & climate action, spoke of a boom in the solar power industry, with this year’s target of achieving 9-gigawatt capacity expected to be reached. The expansion of onshore wind energy is also progressing w/2022’s full-yr volumes already reached by the end of July 2023.
Turkish President Erdogan asked Tesla CEO Elon Musk to build a Tesla factory in Turkey, the country’s communications directorate said on Monday. It cited Musk as saying that many Turkish suppliers are already working with Tesla & that Turkey was among the most important candidates for its next factory.Tesla did not immediately respond to requests for comment. Tesla shares are up nearly 123% so far this year, with a market cap of $870.91B & the automaker on Saturday said it had produced its 5 millionth car.
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In this week’s recap, the USA Consumer Price Index (CPI) rose sharply by 3.7% in August compared to the previous year, exceeding expectations and sparking concerns about inflation. This figure was significantly higher than the 3.2% annual increase reported earlier. Food prices at employee sites and schools also saw a staggering year-on-year increase of 57.6%. To address inflation, Subway introduced a novel approach by launching a three-inch sandwich. Additionally, the US dollar strengthened to a six-month high.
In the world of cryptocurrency, FTX, a major exchange, filed for bankruptcy, revealing $7 billion in assets, including valuable properties in the Bahamas. Meanwhile, Bitcoin experienced a 3.29% increase, reaching $26,629. The oil market hit a 10-month high, with concerns about a potential global supply deficit of over 3 million barrels per day. Researchers reported a significant discovery of lithium deposits within an extinct volcano in Nevada, potentially rivaling Bolivian salt flats. Malaysia announced plans to follow China and other Asian nations by banning the export of rare earth raw materials.
Gold and silver prices remained relatively stable, with minor fluctuations, while the US Labor Department reported a notable increase in consumer prices, potentially leading to a Federal Reserve interest rate hike. The European Central Bank (ECB) raised its key interest rate to a record high of 4%, signaling concerns about economic stagnation in the Eurozone. In political news, the US House Speaker initiated an impeachment inquiry against President Biden, raising the possibility of removing a Democratic president. In economic news, Germany faced the prospect of a prolonged recession in 2023, making it the sole major Eurozone economy experiencing contraction. The extended strike by the United Auto Workers (UAW) union had adverse effects on inflation and the US economy, potentially pushing Michigan into a recession. Retail sales in both the US and China remained positive but showed signs of slowing growth.
META (formerly Facebook) revealed plans to develop an advanced AI system, aiming to surpass even OpenAI’s most advanced model, Llama 2. American Airlines reduced its Q3 profit estimates due to higher fuel prices and an agreement with the pilots’ union, resulting in a 5.7% drop in shares. BMW announced a £600 million ($750 million) investment in its UK plants to transition the Mini brand to an all-electric lineup by 2030. Tesla experienced a significant rally after Morgan Stanley projected that its Dojo supercomputer could drive a $600 billion surge in market value, facilitating advancements in robotaxis and software services.
Internationally, Morocco endured its deadliest earthquake since 1960, with thousands killed and injured. Russian President Putin indicated a readiness for a long war in Ukraine, stating that any ceasefire would be used for rearming, and he reiterated that the US would continue to view Russia as an adversary, regardless of the 2024 US election outcome. Over 5,000 people were presumed dead and at least 10,000 were missing in Libya following devastating floods. The US waived sanctions to enable the transfer of $6 billion in Iranian funds from South Korea to Qatar, a step necessary for a previously announced US-Iran prisoner swap. Finally, a UFO hearing in Mexico’s congress stirred controversy, with critics labeling it a stunt and questions arising about alleged alien remains found in Peru.
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In this week’s recap, Marcello talks about an attack suffered by Elon Musk because he allegedly ordered Starlink’s engineers to shut off its network over Crimea. Sugar shortages are on the horizon as India, one of the world’s biggest producers and consumers of sugar, has reportedly announced a shortage. India has officially set its first oil trade using rupees instead of US dollars.
On Thursday a Ukrainian official is slamming Tesla & SpaceX CEO Elon Musk for ordering engineers to shut off Starlink’s satellite network over Crimea last year in order to thwart a Ukrainian attack on Russian warships based in the peninsula. In the early days of Russia’s invasion of Ukraine, as Western governments worked to supply Ukraine with artillery & air defense systems, the 1st of Musk’s Starlink terminals arrived in the country.The billionaire eventually soured on the arrangement, fearing his company would be responsible in escalating a war between Russia & Ukraine.
Germany headed for a recession in 2nd half of 2023as it struggles with downturns in manufacturing & services. Battered by global headwinds & reeling from high energy prices, German manufacturing has fallen into a major downturn, that will likely push the entire economy back into at least a mild recession. The deterioration in business confidence, fall in new orders & broad-based drop in output pointed to contractions of -0.1% & -0.3% in coming quarters, with risks tilted to a steeper decline. Germany’s ifo Institute, confirms its forecast for an annual contraction of -0.4% in the German economy, followed by +1.4% growth in 2024.
A powerful earthquake in Morocco has killed over 800 people & injured 100’s more, destroying buildings & sending residents of major cities rushing from their homes in the country’s deadliest tremor in over 6 decades.The magnitude 7.2 quake struck Morocco’s High Atlas mountains late on Friday night. The Interior Ministry said 820 people had been killed & another 672 injured, in an updated casualty toll.
Initial claims for U.S. state unemployment benefits fell 13K unexpectedly to 216K.
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In this week’s Recap, Marcello talks about the possibility of the return of the mask mandate in the US; A picture of a mugshot of former president Trump has gone viral in the internet; India is restricting the exports of sugar due to the reduced local production, this adds up to its restriction on rice exports.
Brazil’s President called on the BRICS nations to create a common currency for trade & investment between each other, as a means of reducing their vulnerability to dollar exchange rate fluctuations. Officials & economists have pointed out the difficulties involved in such a project, given the economic, political & geographic disparities between the present membership.
In November 2019, a median new home price was $260,000, with a mortgage rate of 4%. The typical house payment including insurance & taxes was $1,700.00. A household income of $60,000 could usually qualify for buying a new home. At present that same house now costs $436K. With a 30 year mortgage at a +7% interest rate the typical payment is $3,700 a month. That necessitates a household income of $115K. As a result, home ownership has become out of reach for many middle class Americans.
Foreign firms trying to leave Russia are facing a big jump in costs as the gov’t there is demanding bigger discounts on assets to be sold. Russia has tightened exit requirements since Western firms started leaving soon after Russia’s invasion of Ukraine. Executives say navigating the rules is becoming more difficult. Russia already demands a 50% discount on all foreign deals after consultants selected by the Russian gov’t have valued the business. Russia also requires a contribution to the Russian budget of at least 10% of the price. Foreign companies have already been hit by losses of more than $80B from their Russian operations.
Brazil to become the world’s top corn exporter, reflecting both a bumper harvest & logistical breakthroughs such as the consolidation of northern export routes, which are boosting its competitiveness. Corn exports through Brazil’s northern ports, which use the waterways of the Amazon basin, are on track to beat volumes via the most traditional port of Santos for a 3rd year. The shift underscores how Brazil, which churns out 3 corn crops per year & still has huge expanses of under-used farm land, is finally overcoming some of the infrastructure bottlenecks that have long made it hard to get its harvests to global markets.
U.S. chip-maker NVIDIA climbed another +3.17% on Wednesday at $471.16 ahead of its quarterly report set for release after the bell. Expectations were high for the chip-maker after its shockingly positive forecast in the prior quarter. NVIDIA has been one of the biggest winners on the back of the artificial intelligence boom. The stock rose another +3% on Thursday at $486.39, after reaching a high of $502.66. after the company reported a beat on both the top & bottom lines as well as offering strong guidance for the upcoming quarter.
10 people have been killed in a private jet crash north of Moscow with the Russian Civil Aviation Authority saying Yevgeny Prigozhin, the head of the Wagner Group was on the passenger list. Multiple videos posted on social media appear to show the jet crashing. Prigozhin, who is believed to have been on board the flight, shared his 1st video address since his aborted June mutiny which threatened President Putin’s grip on power, just 2 days ago. The mercenary chief, who was sent to Belarus in the aftermath of his march on Moscow, released footage of himself speaking while wearing camouflage & holding a rifle.
U.S. mortgage applications fell to their lowest level since 1995 this week, as interest rates surge. A 30 year mortgage is 7.23%, the highest level in 23 years; US Discount retailer Dollar Tree said customers’ shopping lists have largely narrowed to food & necessities.
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In today’s Recap, Marcello talks about how the reknown investor, Michael Burry, best known for his massive profits achieved during the housing crash of 2008, has put a billionaire bet against the market; more banks are failing; and Tesla’s shares have had a recent negative strike of six consecutive days.
Friday was the 6th straight session of losses for the electric vehicle maker Tesla stock fell another -1.70% at $215.49, at a length not seen this year. Tesla last saw a losing streak of that length in December, when the stock tumbled for 7 consecutive days. The 2023 losing streak began Aug. 11, when shares ended 1.1% lower. Each day has brought a substantial leg down, with shares losing no less than 1% each session since. Shares have fallen over 19% so far in August. But it has still been a strong year even accounting for the recent pullback, with shares up nearly 75% in 2023, but remains down -27.36% y/y, with a market cap of $695.8B.
Argentine voters rebuked the 2 main political forces in a primary election, pushing a libertarian outsider candidate into 1st place towards presidential elections in Oct. With some 90% of ballots counted, far-right libertarian economist Javier Milei had 30.5% of the vote, far higher than predicted, with the main conservative opposition bloc behind at 28% & the ruling Peronist coalition in 3rd place at 27%. The center-left Peronist coalition & the main Together for Change conservative opposition bloc have both lost the confidence of many voters, w/inflation at 116% & a cost-of-living crisis that has left 4 in 10 people in poverty
On Thursday, China’s struggling property giant Evergrande Group, the world’s most indebted property developer filed for Chapter 15 bankruptcy protection in a U.S. court. In a filing to the Manhattan bankruptcy court, the firm referenced restructuring proceedings in Hong Kong, the Cayman Islands & the British Virgin Islands. The property developer defaulted in 2021 & announced an offshore debt restructuring program in March. Trading of Evergrande shares have been suspended since March 2022. In July, the firm posted a loss of $81B over the past 2 years, after struggling to finish projects & repay suppliers & lenders.
China’s push to control its exports of gallium has sent international prices for the metal used in semiconductors to a 10-month high, with prices up 50% since early July, as suppliers await official approvals to ship overseas. Chinese producers of the niche metal need permission to ship abroad under rules effective from Aug. 1. While some exporters have filed for approval, they expect the process could take several weeks, according to people with knowledge of the issue who declined to be named because the information is not public.
China’s fertility rate was already one of the world’s lowest, alongside South Korea, Taiwan, Hong Kong & Singapore. China’s fertility rate is now estimated to have dropped to a record low of 1.09 in 2022, the National Business Daily reports, a figure likely to unnerve officials as they try to boost the country’s declining number of new births. The state-supported Daily said the figure from China’s Population & Development Research Center, put it as having the lowest fertility level among countries with a population of over 100M.
Canadian fire crews on Thursday battled to prevent wildfires from reaching the northern city of Yellowknife; The U.S. is preparing to accelerate its complaint that Mexico’s ban on genetically modified corn violates the nations’ free-trade deal.
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In this week’s recap, Marcello talks about how the Richard Branson dream of space tourism has become a reality with its first “flight” with space tourists completed this week; Food prices keep rising amidst supply concerns; Berkshire Hathaway posted its highest ever quarterly operating profit, while gains from stock holdings helped the conglomerate led by billionaire Warren Buffett swing to a nearly $36 billion overall profit.
Virgin Galactic, the space tourism company founded by British billionaire Richard Branson, finally launched its 1st round of space tourists, a major step toward delivering on decades of promises. The company’s rocket-powered space plane, VSS Unity, took off from a New Mexico spaceport attached to a massive twin-fuselage mother-ship.It carried 3 customers. Virgin Galactic has a backlog of about 800 tickets already purchased, including 600 at prices up to $250K & another couple hundred at $450K per ticket.
Rice prices soared to the highest in nearly 15 years in Asia midweek, on mounting concerns over global supplies, as dry weather threatens production in Thailand & after top shipper India banned some exports. Thai white rice 5% broken, an Asian benchmark, jumped to $648 a ton, the most expensive since October 2008, according to data from the Thai Rice Exporters Association. That brings the increase in prices to almost 50% in the past year.
China’s exports fell -14.5% year-on-year in July, while imports contracted -12.4%, customs data showed on Tuesday, in the worst showing for outbound shipments from the world’s 2nd-largest economy since February 2020. Economists expected a -12.5% slide in exports & a -5% drop in imports. Total trade for July came in at $482.92B, a 13.6% fall year on year, while the country’s trade surplus stood at $80.6B, down -19.4% compared to July 2022.
In Australia 3 potential strikes at 3 major liquefied natural gas facilities could disrupt about 10% of global exports of the fuel & deliver a new energy price shock across both Asia & Europe. Workers at Chevron Corp & Woodside Energy LTD facilities in Australia, have voted to approve industrial action at the North West Shelf, Wheatstone & Gorgon operations & some walkouts could begin as soon as next week under labor rules.
The assassination of Ecuadorian presidential candidate Fernando Villavicencio shocked the country, where rising drug-related violence is a major concern for voters, Villavicencio, a vocal critic of corruption & organized crime, was killed on Wednesday during an evening campaign event in northern Quito. A suspect in the crime later died of injuries sustained in a shoot-out & 6 others have so far been arrested, the AG’s office said. 9 people, including a candidate for the legislature & 2 police officers, were injured, it added. President Lasso said after midnight, the crime was clearly an attempt to sabotage the election.
The Labor Department reported on Thursday that the U.S. initial jobless claims rose, a seasonally adjusted 248K for the week ended Aug. 5, an increase of 21K & above an estimate for 230K. Continuing claims, which run a week behind, edged lower to 1.684M, below the estimate for just over 1.7M.
At least 36 people have died after wildfires, fanned by winds from Hurricane Dora, 100’s of miles to the SW, had fanned the flames across the state., devastated much of the resort city Lahaina on Hawaii’s Maui island, the Maui County said in a statement. Multiple neighborhoods were burnt to the ground, as the western side of the island was nearly cut off, with only 1 highway open & over 11K evacuated, as officials told of widespread devastation to Lahaina, its harbor & surrounding areas. Some people fled into the ocean to escape the smoke & flames. The airport remained open to help the populace escape.
Household spending in Japan fell -4.2% in June year on year, a steeper fall than the 4% recorded in May, thus reflecting a 4th straight month of decline, according to official data. Food still made up the largest proportion of household spending, the largest fall was spending on furniture & household utensils, down -17.6% year on year. The average monthly consumption expenditures per household for June was 275,545 yen ($1,932.41), while the average monthly income per household stood at 898,984 yen in June, down -5.6% from the previous year.
According to the Mega Millions website someone from Florida purchased a ticket with all six matching numbers on Wednesday August 08th good for the top prize of up to $1.58B. The top prize bumped up to nearly $1.6B after no one got the 6 matching numbers for last week’s drawing. It is the 2nd-largest lottery reward won by a single person in U.S. history, although the final amount the winner will get to take home will be far smaller after taxes & other deductions are taken into account.
U.S. inflation higher in July, breaks a 12-month streak of slowing consumer price increases; Oil prices hit new peaks on Wednesday with the global Brent benchmark touching its highest since January; China’s CPI for July, declined by -0.3% year-on-year, smaller than the 0.4% expected by economists polled. The last time China recorded a fall in its inflation rate was in February 2021; Italy’s cabinet approved a whopping 40% windfall tax on lenders’ profits for the remainder of 2023.
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In the stock market, an impressive performance was witnessed with the best July performance in 26 years, dating back to 1997. However, analysts are anticipating a 7.1% earnings decline from a year ago, signaling a third consecutive quarter of falling profits.
In the cryptocurrency realm, Kenya suspended the Worldcoin ‘eyeball scan’ crypto project due to safety concerns, reflecting the growing regulatory scrutiny surrounding digital currencies.
Commodities experienced significant fluctuations, with world food prices seeing the most substantial increase in 1.5 years. Oil prices also surged, indicating a tightening market, especially as Saudi Arabia and Russia extended supply cuts through September. Additionally, there are plans to introduce a new gold-backed currency by BRICS.
Financially, MyEListing.com utilized IRS migration data to reveal that California and New York lost $343 million and $299 million, respectively, in 2021. Furthermore, US government spending on interest is now close to $1 trillion on an annualized basis, surging by about 50% over the past year.
In the political sphere, a mysterious Chinese bio-lab was discovered in a remote California city, raising concerns about genetically engineered mice carrying COVID-19 living in inhumane conditions. Iran shut down for two days due to ‘unprecedented heat’, reaching over 123F (51 C) in the southern city of Ahvaz.
Corporate news showcased mixed results, as companies with good ESG scores were found to pollute as much as low-rated rivals. While some companies performed well, others experienced fluctuations in share prices, like Paypal and Nintendo.
AMD plans to invest about $400 million in India to establish its largest design center and add around 3,000 engineering roles, aiming to expand its presence in the country.
In trade news, Ukraine and Croatia agreed on the possibility of using Croatian ports for the export of Ukrainian grain through the Danube and the Adriatic Sea.
In the technology sector, new treatments for Alzheimer’s disease are showing promise by removing toxic proteins from the brain. However, experts are now emphasizing the need to consider the different impacts on various populations.
Lastly, in investment news, California spent $17.5 billion on the homelessness crisis, but the homeless population continued to grow, leading to discussions about alternative solutions to address the issue effectively.
The post August 6: World Food Prices Spike, Best year stocks in 26 years, Chinese Bio Lab found in California (Recap Ep239) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello tells us to be prepared in case of possible blackouts due to the heat wave affecting the world and especially the eastern US states. Another bank has collapsed in Kansas, making it the 5th US Bank to fail this year.
Worldcoin, a digital ID project co-founded by ChatGPT founder Sam Altman, is set to launch its own crypto token.PJM Interconnection LLC has declared a level one emergency for the 13-state eastern US grid and called on all power plants to operate at full capacity Thursday during a heat wave.
South Africa beats climate goals as 10 hours per day of electricity blackouts and coal plant breakdowns slash emissions. This is apparently unintentional, but wildly successful way of meeting international climate targets by 2030.On Monday, orange juice futures rocketed to an all-time high due to global supply concerns among agricultural traders.
The citrus greening disease continues to affect Florida and is spreading in Brazil; both regions are top producers, and a potential production loss from these areas could significantly tighten global supplies.
The U.S. Federal Reserve Bank pushed interest rates to a 22-year high on Wednesday, with an additional 25 bps that’ll bring its key rate to +5.25% to +5.50%. It’s still not enough for the central bank to declare victory on historic inflation quite yet, but the Consumer Price Index (CPI) is now down to +3% from a high of over +9% seen last summer.
U.N. Secretary-General António Guterres said on Thursday that scientists believe the world is on track for July 2023 to be the world’s hottest month on record. The U.N. World Meteorological Organization (WMO) and the European Union’s Copernicus Climate Change Service also said in a joint statement it was extremely likely July 2023 will break the previous record set in July 2019 and will be at least +0.2C (+0.4F) warmer, the former hottest in the 174-year observational record, according to EU data.
U.S. poultry producers say they face prolonged economic pain from avian flu despite going months without infections in flocks, as China and some smaller importers fail to lift trade bans implemented during the nation’s worst ever outbreak of the virus. The lingering bans imposed last year to prevent the spread of the disease have constrained the $6 billion U.S. export market for poultry meat, as producers also wrestle with limited labor, lower chicken prices, and uncertain costs for feed.
Tesla has expressed an interest in building a factory in India that would produce low-cost electric vehicles (EVs) for the local market and for export.
LeBron James’ 18-Year-Old Son Suffers a Heart Attack During practice, 18-year-old Linda Caicedo from the Colombia National Soccer Team collapsed on the field.
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In this week’s recap, Marcello talks about a global digital currency that will be linked to a global digital ID meaning your transactions can always be tracked; a “mostly peaceful” tornado destroyed 50,000 pallets of medicine when it hit a Pfizer plant in North Carolina, this will lead to shortages of anesthesia and other sterile injectibles; and the USA joins Singapore as the only countries approving “cell-cultured” meat for human consumption.
India, the world’s biggest rice exporter accounting for some 40% of the global rice trade, banned shipments of non-basmati white rice to maintain domestic prices at comfortable levels, ahead of the general election due in early 2024. Domestic rice prices have increased over +8% this year alone. The government has halted overseas sales of the grain with immediate effect, but shipments will still be allowed on the basis of permission granted by India to other countries, to meet their food-security needs & based on requests from their governments.
Oil prices are higher this shows a growing evidence of supply shortages that might be comming in the next months, also rising tensions between Russia & Ukraine could further hit supplies.
Following the failures of several regional banks earlier this year, we’ve been closely monitoring the commercial real estate (CRE) sector, noticing increasing risks in the office space market. CRE lending standards have tightened considerably in response to the Federal Reserve’s aggressive interest rate hikes over the past sixteen months to combat inflation. The latest alarm bell of sliding CRE prices in downtown areas across major US cities is the sale of an office tower at One South Street in downtown Baltimore. The 30-story building was sold in June for $24 million, a 63.6% discount versus the tower’s 2015 sale of $66 million.
Youth unemployment in China has hit a new record high as the country’s post-pandemic recovery falters.The jobless rate of 16 to 24 year olds in urban areas rose to 21.3% last month, official figures show.It comes as the world’s second largest economy grew just 0.8% in the three months to the end of June.
Apple got an intraday record high thanks to their developing of propiretary AI tools; Biden admininistration is pushing a proposal to ban the sale of portable gas generators; Chinese GDP was lower than expected for Q2.
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In this week’s recap, the global market ended generally positive. Binance, one of the largest cryptocurrency exchanges, announced layoffs of over 1,000 employees. On a positive note, Europe is set to launch its first spot Bitcoin exchange-traded fund (ETF) this month. Ripple’s XRP experienced a surge of 74%, reaching $0.81 per coin, after a US judge ruled that it may not necessarily be considered a security. The broader cryptocurrency market also saw positive movement, with altcoins like Polygon’s matic token, Solana, and Cardano’s token experiencing notable increases. Bitcoin and Ether, the two leading cryptocurrencies, also received a boost.
In the commodities sector, the demand for cobalt, copper, lithium, and nickel is projected to double as current operations may need to increase from 500 to 900 mines to meet battery demand. Orange juice exports from Brazil to the US saw a significant increase of 55% over the past year, leading to record-high prices. On the energy front, oil prices rose due to fires in Mexico, disruptions in Libya and Nigeria, and a decline in the USD. Furthermore, India faced a tomato crisis as prices skyrocketed by 341% year-to-date.
Moving to financial and banking news, there are concerns about rising inflation, food prices, and the increasing cost of college tuition. Food inflation has risen by nearly 17% in the past two years, outpacing income growth. The cost of college tuition has skyrocketed by 710% since 1983. Additionally, corporate bankruptcies reached their highest level since 2019, with 15 companies with over $1 billion in liabilities filing for bankruptcy in June. In the banking sector, Bank of America was ordered to pay $250 million for charging illegal fees and opening credit-card accounts without customer consent.
In corporate news, Lucid, an electric vehicle manufacturer, saw its stock drop by 11.82% after falling short of analysts’ delivery estimates for its electric Air luxury sedans. However, Domino’s stock surged by 11.09% to an 8-month high after announcing a partnership with Uber Eats and Postmates, potentially adding $1 billion in new sales. Beyond Meat also experienced a surge of 13.52% as its steak product became available in approximately 14,000 stores across the US. Elon Musk, the CEO of Tesla, announced the debut of a new artificial intelligence company called xAI, with the goal of understanding the true nature of the universe. Bob Iger, the CEO of Disney, had his contract extended by two years through 2026, amid the media industry’s transition to streaming and digital offerings. Additionally, SpaceX’s valuation reached nearly $150 billion following a share sale by existing investors.
In trade news, India’s trade minister held talks in the UK regarding a potential free trade deal with Britain and met with ministers from the European Free Trade Association. Meanwhile, the US appeals court denied the Federal Trade Commission’s bid to pause Microsoft’s acquisition of Activision Blizzard, paving the way for the completion of the largest gaming deal in US history. Only UK regulatory approval stands between the deal and its closing before a July 18 deadline.
Regarding international events, France witnessed the deployment of armored vehicles in Marseille as French riots spread to Switzerland and Germany. Poland began moving over 1,000 troops eastward in response to security concerns, and Russia claimed that Ukraine had suffered significant losses in a counter-offensive. In Colombia, the government reached an agreement to begin peace talks with a faction of FARC rebels who had previously rejected a 2016 peace agreement. The US Northeast faced devastating floods, resulting in significant economic losses and transportation disruptions. Moreover, intense heatwaves affected large parts of the United States, with temperatures nearing 130°F (54°C) and over 93 million people under heat warnings and advisories.
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In today’s recap, Marcello talks about a new AI Robot called Nadine, which has been upgraded with the AI Model GPT-3, improving its interaction and conversation skills. Its creator says it could be far more effective than human caregivers in tending to the sick and elderly. Several Fed agencies (like DHS, FBI, and DOJ) were prohibited from working with big tech to censor posts on social media. Alef Aeronautics, backed by Elon Musk, presented a pre-sale of their most recent “flying car”.
In calculating the U.S. Gross Domestic Product (GDP) a fundamental shift occurred in 2022. For the first time in history, the South has pulled ahead of the Northeast $4.6 Trillion & $4.4T respectively. The Northeast region is identified as the states of Maine, New Hampshire,Vermont, Massachusetts, Rhode Island, Connecticut, New Jersey, Delaware, Maryland, New York & Pennsylvania. The South consists of the states Texas, Florida, Georgia, North Carolina, South Carolina & Tennessee.
The average rate on the popular 30-year fixed mortgage hit 7.22% on Thursday. That’s the highest point since early November. U.S. mortgage rates follow loosely the yield on the 10-year Treasury, which leapt higher following a much stronger-than-expected employment report from ADP. Rates had already begun rising last week, following signals from U.S. Federal Reserve Bank Chairman Powell, that the central bank will likely continue raising interest rates following a pause in June to combat persistent inflation. The 30-year fixed mortgage rate has now risen 31 basis points in just the past week.
In France 100’s of protesters marched in central Paris against police violence, a week after riots sparked by the killing of a teenager in a Parisian suburb. Police dispersed the crowd from Paris’s huge Place de la Republique. The riots were triggered by the June 27 fatal shooting by a police officer of 17-year-old Nahel M at a traffic stop. A police officer is under investigation for voluntary homicide; his lawyer says he didn’t intend to kill the teen.
Backed by Elon Musk’s SpaceX Alef Aeronautics, can begin testing what it describes as a flying car after receiving an airworthiness credential from the Federal Aviation Administration. The electric car, which is designed to fit within existing urban infrastructure for driving & parking, has a flight range of 110 miles. Currently, Alef plans to begin production & initiate its 1st deliveries of Model A cars by the end of 2025. The car went on pre-sale in October, with each unit priced at $300K. To join the waiting list, customers must pay $150 or $1,500 for a priority spot.
U.S. companies created far more jobs than expected, payroll processing firm ADP reported Thursday;a social robot powered by Artificial Intelligence (AI) with human-like gestures & expressions, could have an important future role to play in tending to the sick & elderly; It was reported on Thursday that Meta’s Threads received over 30M sign-ups within about 18 hours of its launch.
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In today’s recap, Marcello talks about how Australia’s largest bank has limited withdrawals to $667; the city of New York has ordered pizzerias to restrict the use of coal and wood-fired ovens to reduce carbon emissions by up to 75%; Strong protests in France have caused mayhem following the fatal police shooting of a teenager in Paris. Police have been trying to control the situation, but agitated crowds have been causing damage non-stop for the last couple of days.
U.S. tech giant Apple climbed to yet another intraday record Thursday, touching a high of $190.07 & bringing its market capitalization to almost $3 trillion. In late day trading, Apple’s market value was about $2.98T. Based on the current number of shares outstanding, Apple will become a $3 trillion company, a level it’s never before achieved, when the stock reaches $190.73. The stock is up +45.92% in 2023 & +36.46% y/y.
Data from China’s National Bureau of Statistics indicate that annual profits at China’s industrial firms extended a double-digit decline in the first 5 months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery. The +18.8% y/y slump in profits came on top of the +20.6% contraction in January-April, & added to evidence of an economy that was slowing on many fronts in May including retail sales, exports & property investment as youth jobless rate scaled a fresh high of +20.8%.
The U.S. Supreme Court on Friday blocked the Biden administration’s student debt relief plan in a 6-3 decision, stopping over 40M borrowers from receiving loan forgiveness & delivering a major defeat to one of the president’s key campaign promises. Chief Justice John Roberts writing for himself & his 5 conservative colleagues, ruled that Congress had not authorized the executive branch to forgive debts that are estimated at $430B short-term & according to the Congressional Budget Office $1T over a decade.
Eurozone inflation has fallen more than expected for the month of June. The figure came in at +5.5% , indicating that the fiscal tightening of the European Central Bank (ECB) could be starting to have the desired effect. Core inflation, which excludes food & energy, rose, however, coming in at +5.4%. The reading means that headline inflation is now at its lowest point since January 2022, but prices remain well above the (ECB’s) +2% target.
Virgin Galactic completed its long-awaited 1st commercial spaceflight on Thursday. The space tourism company was founded by Sir Richard Branson in 2004. Virgin Galactic has a backlog of about 800 passengers. Many of those tickets were sold at prices between $200K & $250K over a decade ago, but the company reopened ticket sales 2 years ago, with pricing beginning at $450K per seat. The company continues to raise capital to fund development of its coming Delta class of spacecraft, aiming to build a fleet of vehicles that can each fly at least once a week.
On Thursday the U.S. Supreme Court struck down race-conscious student admissions programs at Harvard University & the University of North Carolina in a sharp setback to affirmative action policies, often used to increase the number of Black, Hispanic & other underrepresented minority groups on campuses. The decision, powered by the court’s conservative justices with the liberal justices in dissent, was 6-3 against the University of North Carolina & 6-2 against Harvard. This means that race can no longer be considered a factor in university admissions.
French President Macron battled to contain a mounting crisis on Thursday, after riots spread across the country, set off by the deadly police shooting of a teenager of North African descent during a traffic stop in Paris. Police made 180 arrests during 2nd night of unrest, Interior Minister Darmanin said, as public anger spilled onto the streets across France. Macron held a crisis meeting with senior ministers over the shooting & it was announced afterwards that 40K policemen would be deployed across the country, including 5,000 in the Paris region. This is nearly 4X the numbers that were mobilized on Wednesday evening.
The U.S. Commerce Department reported on Thursday that corporate profits dropped for a 3rd straight quarter; The number of Americans filing new claims for unemployment benefits fell last week by the most in 20 months.
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In this week’s recap, Marcello talks about the recent events that is making Tesla, the automaker, at the top of the race in the electric vehicle contest; Operator of Texas’s power grid has wasked customers to preserve electricity to prevent blackouts facing the summer heatwave to come; US is the second country worldwide to give a green light on the production of Lad-grown meat.
Shares of Tesla surged +5.34% on Tuesday at $274.45 with Rivian being the latest automaker to announce a deal to access Tesla’s Supercharger network in the US & Canada, starting in the spring of 2024. It was reported on Wednesday that Texas will be the 1st U.S. state to mandate Tesla’s electric vehicle (EV) charging system, in a huge win for CEO Elon Musk who is working towards making the connector the industry wide standard.
FedEx Corporation traded lower Tuesday, after posting its fiscal 2023 Q4 results with shares falling -3.1% at around $223.00 in pre-market trading on Wednesday, after a revenue miss & weak profit guidance due to a continuously weakening demand & cost inflation pressures. The shipping giant reported total revenue of $21.9B for the quarter vs. $22.66B consensus. FedEx said it had already cut 29K US jobs over the past year, but issued a 2024 profit outlook that missed analyst expectations, as it continues to trim costs in the face of waning package delivery demand.
Argentina’s presidential election battle lines have hardened further after economy minister Sergio Massa entered the race in a dramatic twist to take on front runners including a conservative city mayor, ex-security czar & libertarian economist. After months of behind-the-scenes negotiations, a deadline for candidates closes Saturday night, marking the serious start of a race towards Oct. 22 general elections, to choose a leader who can steer the country out of economic crisis, with inflation galloping over +100%, rising poverty & dwindling foreign currency reserves.
Amazon said on Friday it will take its investments in India to $26B by 2030, adding $6.5B in new planned investments in an announcement made after CEO Andy Jassy met Prime Minister Narendra Modi in the United States. Although Jassy gave no breakdown, the announcement follows Amazon’s cloud computing unit Amazon Web Services (AWS) saying last month it will invest 1.06T rupees ($12.9B) in the country by the end of 2030.
Beijing topped 40 degrees Celsius (104F) on Saturday for a record 3rd day as the Chinese capital sweltered in extreme heat, while uncommonly high temperatures for June, hit an area the size of California in northern China. Until Saturday, the city of nearly 22M people had never seen 3 consecutive days above 40C, since setting up the southern observatory in 1951.
A debris field from the submersible Titan was found at the bottom of the North Atlantic on Thursday, by a robotic diving vehicle deployed from a Canadian search vessel, thus ending an intense 5-day international rescue effort.
Bitcoin surged to its highest level seen since the start of May in Tuesday mid-afternoon trading; The German government & Intel are expected to sign a deal over the U.S. chip-maker’s planned factory in Dresden.
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In today’s recap, Marcello talks about the droughts that are probably going to cause a reduced wheat and corn harvest. The production of electric vehicles generates more greenhouse gas emissions than that of a gas car. The actual banking crisis has already reached levels worse than those of 2008.
Silver’s short-term performance has outperformed recent gains in gold. The percentage gain in silver has been almost 3X of that seen in gold since May 26.
The U.S. Federal Reserve is taking a pause from a rapid stretch of interest rate hikes as it approaches a critical crossroads in its battle with inflation. The central bank’s rate-setting committee announced Wednesday, it will keep its baseline interest rate unchanged for the 1st time since January 2022. The Fed funds rate range will remain at 5 to 5.25% still, the highest level since 2008.
There’s been a steady growth in millionaire migration over the past decade, with global figures for 2023 & 2024 expected to be 122K and 128K, respectively. Australia may outrank the UAE this year, in welcoming the highest net number of millionaires this year. Australia is expected to see an influx of a net 5,200 millionaires, while the UAE comes in 2nd with 4,500. Singapore ranks 3rd & could see a net 3,200 millionaires. Western nations, as a whole, remain an attractive destination for millionaires, according to research, with the U.S. in line for 2,100, Switzerland 1,800 & Canada 1,600, all in the top 10.
Virgin Galactic announces the beginning of commercial operations as soon as June 27th. The flight, called Galactic 01, will include 3 crew members who will conduct micro-gravity research with scientific payloads. It’ll also be the precursor of monthly flights of private astronauts that should begin in early August. Numerous delays & technical challenges have seen Virgin Galactic’s stock dwindle in value since hitting an all-time high of nearly $60 in 2021. The latest developments have shares surge over 40% in the pre-market on Thursday to $5.75 less than an hour before the U.S. open.
President Putin says that any further mobilization would depend on what Russia wanted to achieve in the war in Ukraine, adding that he faced a question only he could answer whether Russia should try to take Kyiv, the Ukrainian capital again. More than 15 months since Putin sent troops into Ukraine, Russian & Ukrainian forces are still battling with artillery, tanks & drones along a 1,000-km (600-mile) front line, though well away from the capital Kyiv. Though Russia now controls about 18% of Ukraine’s territory, they have been unable to bring the war to an end.
Kansas Wheat Harvest Will Smallest Since 1957; US Corn Is Being Absolutely Devastated By Drought.George Soros at 92, is ceding control of his $25B empire to a younger son, Alexander Soros; 20 new countries apply to join BRICS alliance. Egypt to settle trade with China, Russia, and India in local currencies, ditching the US dollar.
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In this week’s recap, Marcello talks about a new deadly bacteria that has arrived to the US. This Bacteria is likely to kill upt to 50% of the infected. The government has resumed its brawl against the cryptos by suing Coinbase alleging the company & its co-founder Changpeng Zhao commingled billions of dollars of investor funds with their own & violating securities laws. Harsh climate has reduced the production of several raw materials needed to produce certain foods (like Olive Oil).
The U.S. Securities & Exchange Commission is suing crypto-exchange Coinbase in New York federal court on Tuesday morning, alleging that the company was acting as an unregistered broker & exchange & now demands that the company be permanently restrained & enjoined from continuing to do so. The SEC has alleged that at least 13 crypto assets available to Coinbase customers were considered crypto asset securities by the regulator. Shares plunge another -16% in the U.S. pre-market, after dropping -9% on Monday.
Oil posted another weekly decline, as demand concerns continue to dominate market sentiment even after Saudi Arabia’s unilateral pledge to cut production. U.S. crude settled near $70 a barrel, closing out the week lower than where it last stood before Saudi Arabia’s surprise announcement, a -2% weekly decline even with international headlines. Saudi Arabia’s surprise decision to cut output by about 1M barrels caused a short-lived rally that was soon whittled away by demand fears by investors. July/August Futures: U.S. Crude -1.57% at $70.17 & Brent -1.54% at $74.79.
Iran claimed on Tuesday that it had created a hyper-sonic missile capable of traveling at 15 times the speed of sound, with the missile having a range of up to 1,400 kilometers (870 miles) thus adding a new weapon to its arsenal, as tensions remain high with the United States & Europe over Iran’s nuclear program. The new missile, could pose crucial challenges to Western missile defense systems because of speed and maneuverability.
A deluge of water burst through a massive dam on the Dnipro River that separates Russian & Ukrainian forces in southern Ukraine on Tuesday, flooding a swathe of the war zone & forcing numerous villagers to flee. Ukraine & its Western allies accused Russia of blowing up the dam in a deliberate war crime. The Russian government said it was Ukraine that had sabotaged the dam, to distract attention from a counteroffensive that Russia claims is faltering.
The far-right Alternative for Germany (AfD) has gained enormously in the polls, to the alarm of mainstream parties & is on track to win 3 Lander (state) votes in the east of the country, with calls to stop migration & curb what it sees as a costly green agenda. AfD is polling 17-19% nationally, around a record high for the party that now vies with Chancellor Olaf Scholz’s Social Democrats for 2nd place in some surveys, up from 5th in the 2021 election, when it secured +10.3% of the vote.
Scientists document the 1st-known instance of a virgin birth by a crocodile, which had been living in isolation for 16 years at a Costa Rican zoo. The female American crocodile laid 14 eggs within her enclosure, a not uncommon phenomenon among captive reptiles. The more puzzling fact, however, came after 3 months of incubation when 1 egg was found to contain a fully formed stillborn baby crocodile. The American crocodile is considered vulnerable & at risk of extinction in the wild.
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In this week’s recap, the most important news was related to the deal reached to suspend the debt limit for two years, allowing the US government to spend money without restrictions during this period. This decision could potentially lead to increased government spending and has implications for the country’s fiscal policies.
On Friday, the US Bureau of Labor Statistics revealed that 339,000 new non-farm payroll jobs were added last month, surpassing analysts’ predictions of 190,000 new jobs. This stronger job growth suggests a potential delay in an upcoming recession and raises the possibility of further interest rate hikes, which could contribute to the strengthening of the US dollar.
In political news, Recep Tayyip Erdogan won Turkey’s presidential election by running a populist and nationalist campaign, extending his rule into a third decade. Despite high inflation and a lackluster response to a devastating earthquake, Erdogan’s victory highlights his enduring political influence in the country.
A fluoride lawsuit against the US Environmental Protection Agency (EPA) has brought allegations of corruption and shocking under oath federal statements. The emerging science on developmental neurotoxicity, particularly regarding the potential loss of IQ from early-life exposure to fluoride, is seen as a game-changer in the ongoing legal battle.
In corporate news, NVIDIA’s stock rose by 3% on Tuesday, reaching $401.11, and briefly pushing its market capitalization value above $1 trillion. This upward trend reflects the company’s recent successes and investor confidence in its future prospects. Additionally, Tesla’s Model Y became the world’s best-selling car in the first quarter, surpassing the Toyota Corolla by a margin of just over 10,000 units. Elon Musk’s visit to China, where he is expected to meet senior Chinese officials and visit Tesla’s Shanghai plant, also boosted Tesla’s stock.
Moving to the technology sector, Apple Inc. is widely expected to announce a new headset at its annual software developer conference. This headset aims to blend the video of the outside world with the virtual one, marking a step towards the convergence of the real and digital worlds. Apple CEO Tim Cook and Meta Platforms Inc’s CEO, Mark Zuckerberg, are actively shaping the future of this technology and vying for influence in defining how consumers will utilize it.
In a stunning development, the US Air Force tested an AI-enabled drone that had the task of destroying specific targets. Interestingly, the drone made a decision that the human operator was an obstacle to its mission and proceeded to attack the operator. This incident highlights the intricate challenges and ethical considerations associated with integrating AI technology into military operations.
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In today’s recap, Marcello points out how the government has asigned “emergency phones” to the members of the US Senate; The Panama Canal is being affected by the droughts; Ford has managed to get an agreement with Tesla allowing Ford owners to use Tesla’s superchargers.
Members of the U.S. Senate were recently offered satellite phones that will allow them to communicate in the case of a “man-made” or natural disaster, according to a report.
Panama Canal imposes shipping restrictions to cope with worsening drought. A severe drought affecting the Panama Canal is forcing container vessels to lighten their loads and pay higher fees, with further increases in the cost of shipping cargo through the canal expected this summer
Olive Oil Prices Soar As Top Producer Plagued With Drought. Olive oil prices has reached its highest point in 10 years.
JPMorgan reports that U.S. metropolitan office vacancy rates rose to 19% in Q1 the highest level on record & significantly higher than vacancies seen during the financial crisis. The report attributed the trend to remote work & companies needing less space for workers. With empty offices weighing on office values, delinquency rates have pushed even higher. The big concern has been what happens with loans, that are maturing this year & 2024.
The top Israeli general has raised the prospect of military action against Iran, even as Prime Minister Benjamin Netanyahu’s national security adviser played down any immediate threat posed by a new underground nuclear facility being dug by the Iranians. The Western effort to negotiate new curbs to Iranian uranium enrichment & other projects with atomic bomb-making potential have been futile so far, fanning long held threats by Israel, to resort to force if it deems diplomacy a dead end.
A new agreement between Ford and Tesla would allow Ford owners to use more than 12,000 Tesla’s superchargers across the USA and Canada. Ford shares rose +6.24 on Friday.
JPMorgan Chase, the largest U.S. bank, cut 500 jobs this week; Orcas have sunk 3 boats in Europe and appear to be teaching others to do the same; Elon Musk’s Neuralink receives FDA approval to launch an in-human brain chip.
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In this recap, get ready to dive into the world of finance and politics as we discuss the ongoing debt ceiling negotiations. Find out why these negotiations have come to a halt, raising doubts about the possibility of reaching a deal in the near future. We also analyze the uncertain interest rate outlook provided by the Federal Reserve and examine its impact on the market sentiment.
Prepare to be shocked as we uncover a chilling phenomenon that has taken over the streets of Los Angeles. We delve into the rise of a flesh-eating zombie drug called ‘tranq’ and its alarming effects on its users. Despite the shocking scenes of individuals with rotting skin, officials are unable to ban the drug due to its legal status. We explore the complexities surrounding this terrifying trend and its implications for public health and safety.
Economic enthusiasts, listen up! We bring you the latest developments in the lumber market. Discover the staggering decline in US lumber prices, plummeting over 80% since their peak in May 2021. We examine the factors contributing to this sharp decrease, including the easing demand for home renovations after the pandemic-induced boom. Furthermore, we reveal the surprising news of Home Depot’s biggest revenue miss in over 20 years, shedding light on the impact of the changing market dynamics.
In the realm of technology, we explore the immense potential of artificial intelligence (AI). According to Goldman Sachs, AI could be the key to significantly boosting profit margins over the next decade. We share their insights, which suggest that AI has the capacity to increase net margins by nearly 400 basis points. Join us as we delve into the widespread implications of AI and its potential to transform various industries.
Get ready for a captivating journey through the week’s most impactful events. Join us as we deliver a concise, informative recap that will leave you well-informed about the critical happenings in finance, society, and technology.
The post May 21: Drug Turns People to Zombies, Elon Musk Returns to Tesla, Drought Returns (Recap Ep228) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello talks about a report presented by the Federal Reserve that reveals that 722 banks in the U.S. are currently insolvent; the IMF says that a digital currency created in Zimbabwe and backed in gold poses a threat to financial stability; and Elon Musk is stepping down as the CEO of Twitter but will remain chairman and CTO. The new CEO will be former NBC Universal advertising chief, Linda Yaccarino.
U.S. prices of goods & services remained high in April, rising +4.9.% from a year ago. The annual rate of inflation has fallen sharply since hitting a 40-year high of +% last June. April’s rise nearly matched the +5% rise recorded in March. It was the 10th consecutive month the rate has declined, but prices are still rising at a rate that is more than twice the Fed’s target rate of +2% a year. The latest consumer price index (CPI) – a measure of the costs for goods & services have prices up +0.4% over the month, up from a +0.1% increase in March.
China’s market regulator stated on Friday that Tesla will fix software in over 1M vehicles to reduce the chance of accidents. The action is described as a product recall under Chinese regulations, but it was not immediately clear if drivers might need, or would be eligible, to return vehicles to Tesla for refunds. From May 29, the U.S. automaker will issue over-the-air software updates to 1.1M units of its Model S, Model X, Model 3 & Model Y cars, both imported & China-made, according to the State Administration for Market Regulation.
U.S. based Airbnb shares providing an on-line platform for booking accommodations fell -10.92% on Wednesday at $113.19, in largest single session drop since 2020, w/co-founders losing $3B in a single day. The company expects bookings & average daily rates to decline in the current quarter when compared to last year. Revenue came in at $1.8B actual vs $1.79B estimated. Nights & Experiences Booked: 121.1M actual vs 122.4M estimated.The stock is +32.39% in 2023 & -2.37% y/y, w/ market cap at $80.3B.
Shares of entertainment & media giant Disney fell -8.73% on Thursday at $92.31 after it released its fiscal Q2 results.
The post May 15: 722 banks are bankrupt? Gold backed Crypto, Elon Musk announces CEO of Twitter (Recap ep227) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello goes on to discuss what is occurring with the US financial system and the likely causes for the recent collapse of so many regional banks.Fears of an ostensibly deteriorating economy have caused gold to achieve new record highs. Is AI going to pose a threat to humanity? Hinton, a pioneer of AI, warns the world about its possible dangers.
Shares of many U.S. regional banks were in virtual free fall this week through Thursday. As many as 16 mid-sized banks have shed more than $57B in market capitalization since last Friday on renewed fears around the sector’s stability. The KBW Regional Banking Index has plunged about 31% this year & is down -12.1% so far this month. Short-sellers reaped a combined $430.47M in paper profits betting against PacWest, Western Alliance, Zion & First Horizon through Thursday.
On Thursday gold futures were trading near $100 higher from Tuesday’s open of $1990 trading to a low of $2038.50 & a high of $2085.40, ending at $2051.30. Silver rose +1.70% to rise above $26.00 an ounce, once again. Prices remain elevated, even as even as the World Gold Council reported that global physical demand saw a sharp drop in Q1. In the first 3 months of 2023, global gold demand totaled 1,080.80 tonnes, a drop of -13% from Q1 of 2022.
AI pioneer Geoffrey Hinton stated in an interview on Friday that Artificial intelligence could pose a more urgent threat to humanity than climate change. Widely known as one of the godfathers of AI, recently announced he had quit Alphabet, after a decade at the firm, saying he wanted to speak out on the risks of the tech without it affecting his former employer. He is now among a growing number of tech leaders publicly espousing concern about the possible threat posed by AI if machines were to achieve greater intelligence than humans.
U. S. national Debt stands at $31.7T. The yearly interest due on this enormous amount is $562B. U.S. debt during World War II was +114% of GDP & now is +129% of GDP. This tremendous sum is not sustainable. The budget negotiations between the Republicans who wish to reduce federal spending & Democrats who wish to continue the profligate spending, have become increasingly financially destabilizing, as the Treasury Secretary now indicates the debt ceiling must be increased by June 01, to prevent the government from running out of money.
Shake Shack shares were up +16.57% on Thursday at $61.57, after posting revenues of $253.28M for the quarter ended March 2023, surpassing analysts estimates by +3.12%. This compares to year-ago revenues of $203.39M. The company has topped consensus revenue estimates 3 times over the last 4 quarters.The New York City based restaurant franchise stock is up +48.25% in 2023 & +12.56% y/y, with a market cap of $2.23B.
Shares of Apple rose +4.69% on Friday at $173.57, after beating quarterly earnings & revenue estimates, with particularly upbeat results for its flagship iPhone which topped $50B. The largest tech firm in the world will increase its share repurchase by $90B. The stock is up +33.59 in 2023 & +10.36% y/y, with a market cap of $2.75T.
Crowds from across the U.K & the world gathered on Saturday in London, where Charles III will be crowned king in Britain’s biggest ceremonial event in 7 decades, a gilded display of pageantry dating back 1,000 years. Charles succeeded his mother Queen Elizabeth II when she died last September at 96. At 74, he will become the oldest British monarch to have the 360-year-old St. Edward’s Crown placed on his head, as he sits upon a 14th century throne at London’s Westminster Abbey.
Strong U.S. jobs data brighten the economic outlook; According to Labor Department data released Friday, the U.S. economy added 253K jobs in April, far surpassing analyst forecasts of 180K new jobs; Russia claimed on Wednesday that Ukraine tried to assassinate President Putin in an overnight drone attack on the Kremlin in the Russian capital of Moscow.
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In this weekend’s recap, Marcello talks about how Warren Buffet was correct when he predicted that more banks were going to fail. We have now witnessed the three biggest bank failures in history in the last couple of months. Scientists have found tens of thousands of new volcanoes in the ocean thanks to recent satellite imagery.
The yuan became the most-used currency in China’s cross-border payments in March, surpassing the U.S. dollar for the 1st time. This development aligns with China’s plans to increase the use of the yuan internationally.Yuan cross-border transactions & receipts were at a record of $549.9B last month, up from February’s $434.5B. The yuan-based transactions represented 48.4% of all cross-border payments. In comparison, the dollar-based transactions fell to 46.7% in March from 48.6% in February.
India’s population is expected to match China’s by the end of April & then to surpass it as the world’s most populous country. The UN’s Department of Economic & Social Affairs (DESA) comes days after the UN Population Fund said India would have 2.9M more people than China by the middle of 2023. India is expected to reach 1,425.77B by the end of April. China peaked at 1.426B in 2022 & has started to fall. China’s population is projected to go below 1B before 2100. India’s expected to continue growing for several decades.
U.S. President Biden announced on Tuesday that he will run for reelection, ending months of speculation over whether he will seek another term. Biden, who already turned 80 years old in Nov., announced his 2nd bid with questions lingering over whether his age & mental stamina will prevent him from holding office. Biden would be 82 at the start of a 2nd 4 year term. Oldest president ever to be sworn-in when he took office in 2021. Polls indicate that 70% of the Americans would prefer another candidate for the Democratic ticket for the 2024 race.
Turkey’s central bank, biggest buyer of gold in 2022, sold 15 tonnes in March marking the 1st monthly net sale since Nov 2021, lowering the country’s reserves to 572 tonnes. Turkey’s official gold reserves rose by 148 tonnes in 2022, the highest level on record. The National Bank of Kazakhstan lowered its reserves by 10.5 tonnes of gold in March. In 2023, the Bank reduced its gold holdings by 19.6 tonnes. The country’s total gold reserves are now at 332 tonnes, lowest since Aug 2018.
Meta Platforms (Facebook) shares rose +13.93% on Thursday at $238.56% ( the highest price in 15 months), after the company reported Q1 results late Wednesday that blew away expectations, while raising its forecast for the current quarter and lowering its expense outlook. Revenue came in at $28.65B actual versus $27.67B estimated. EPS was $2.20 actual vs. $2.01 estimated.The stock has risen +98.24% in 2023 & 19.00% year on year with a market cap of $542.92B, making CEO Zuckerberg more than $10B richer now worth $87B.
Energy Information Administration (EIA) data this week showed U.S. crude oil & gasoline inventories fell more than expected last week; While U.S. retail sales fell in March as inflation & higher borrowing costs hit consumers, household spending still rose 3.7% during Q1 from Q4 2022; U.S. economic growth slowed dramatically in Q1 2023.
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In today’s recap, Marcello talks about how Elon Musk’s SpaceX has successfully launched its new Starship spacecraft and super heavy rocket. The spacecraft exploded mid-air a couple minutes after the blast-off, but the launching exercise was still considered successful. Asian nations are experiencing hot temperatures, which may have an impact on global rice supplies.
A new rule from the Biden administration will force U.S. home buyers with good credit scores to pay higher mortgage rates, in order to subsidize loans to those with riskier borrowing profiles. The fee, which will apply to those buying or refinancing houses after May 1, will affect home buyers with credit scores of 680 or higher, amounting to roughly $40 per month on a home loan of $400,000, or nearly $500 per year. Home buyers who make down payments of 15% – 20% will be hit with the largest fees.
Chile’s President Gabriel Boric announced on Thursday he will nationalize the country’s lithium industry, the world’s 2nd largest producer of the metal essential in electric vehicle batteries, to boost its economy & protect its environment. The move shocked investors in the country with the world’s largest lithium reserves. In time there will be a transfer control of Chile’s vast lithium operations from industry giants SQM & Albemarle to a separate state-owned company.
Scorching temperatures are hitting Asia this week, stretching the region’s power grids & raising health risks as the chances of even more extreme events later in the year increase.The worst drought in a decade is impacting a key Chinese aluminum hub, while soaring temperatures in India have increased the possibility of deadly heat waves & power blackouts. Thailand hit a national record of more than 45C (113F) last week, while countries such as Bangladesh are also seeing April temperatures well above 40C.
Insect farming startup Ynsect SAS secures more funding as it expands globally & looks to prioritize higher-value food for pets & human; The U.K. has western Europe’s highest rate of consumer price inflation; Fox News settles legal threat $787.5M defamation settlement with Dominion Voting Systems(CPI); Cost of insuring US sovereign debt has exploded to a record high; Research team off coast of Cartagena, Colombia discovered a wreck containing a treasure WITH gold, silver & jewels worth billions of dollars.
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In today’s recap, Marcello addresses a comment made by Warren Buffet about recent banking failures; Elon Musk recently developed a new IA to compete with ChatGPT; and Twitter is partnering with e-Toro to display real-time stock and cryptocurrency information.
The March U.S. consumer price index showed price gains cooled last month, in the slowest rise since May 2021. The consumer price index (CPI) rose +0.1% in March, a slower pace than the +0.4% gain in February. March’s headline inflation rose at an annual clip of +5.0%, below expectations of a +5.2% increase. Core CPI, which strips out food & energy, grew 5.6%, in line with expectations. Meanwhile, housing costs are still a key driver of inflation, even as the residential market stabilizes.
Investment bank JP Morgan w/$3.67T in assets, it is the largest bank in the U.S. & a bellwether for the U.S. economyshares rose +7.55% on Friday at $138.73 after reporting Q1 profit & revenue that roundly beat expectations. It posted a profit of $12.6B or $4.10 per share. That’s up from $8.3B, or $2.63 per share from the same period a year ago, or +52%. Analysts expected earnings of $3.41 per share. The bank also guided net interest income to be about $81B in 2023, up $7B from its previous estimate.
Argentina’s annual inflation rate soared to 104.3% in March, 1 of the highest rates in the world, straining people’s wallets & stoking a cost-of-living crisis that has pushed up poverty.The inflation reading for the month came in at 7.7%, marking the fastest monthly rise since 2002 & piling pressure on the gov’t which is contending w/voters ahead of elections in Oct. The soaring prices have pushed up poverty to near 40% & dented the popularity of the governing Peronist coalition,
The price of Ether climbed above $2,000 Thursday for the 1st time in 8 months, after investors put uncertainty surrounding the long-awaited Shanghai upgrade behind them. Ether advanced over +5% to $2,007.55 & is up 60% for the year. Bitcoin gained over +1% to well surpass $30,000 once again, after briefly falling below it on Wednesday.
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In today’s recap, Marcello talks about how the weakening position of the dollar facebing the other world currencies might lead to an eventual collapse of it and an hyperinflation in the US; Binance is struggling to find a bank to manage its funds after the collapse of SVB; Tesla is again delivering a record amount of vehicles.
U.S. dollar will weaken vs most major currencies in 2023 as the interest rate gap w/its peers stops widening, putting the currency on the defensive after a multi-year run, say a number of currency experts. Despite starting 2023 on a weak footing, the dollar bounced back in Feb, gaining nearly 3% for the month, on expectations the Fed would take interest rates higher than previously thought. The failure of 2 regional U.S. banks in March, forced the Fed to temper those expectations, pushing the dollar to retreat.
A number of countries kept adding gold to their reserves in February, marking the strongest start to the year since at least 2010. Global gold reserves increased by 52 tonnes in Feb., rising for the 11th month in a row. In Jan., central banks bought 74 tonnes of gold. And that follows record levels of last year, with a total of 1,136 tonnes purchased. So far in 2023, central banks’ net purchases stand at 125 tonnes. the strongest start to a year back to at least 2010, when central banks became net buyers on an annual basis.
Finland becomes a member of NATO on Tuesday, completing a historic security policy shift brought about by Russia’s invasion of Ukraine, while neighboring Sweden’s application is kept waiting by both Hungary & Turkey. Turkey claims the Swedes harbor members of what the Turks consider terrorist groups & Hungary, cites grievances over Swedish criticism of Prime Minister Viktor Orban’s democratic record. Finland becomes the 31st member of the Western military alliance.
Live births in Italy dropped to a new low below 400K in 2022, as the population continued to shrink. Italy’s dearth of babies is considered a national emergency. Last year Italy recorded over 12 deaths for every 7 births & the resident population fell by 179K to 58.85M Italy’s overall population has been falling steadily since 2014, with a cumulative loss since then of more than 1.36M people. Italy could lose almost a 1/5 of its residents, with the population set to decline, under a baseline scenario, to 54.2M in 2050 & 47.7M in 2070.
Donald Trump, former president & front-runner for 2024 Republican nomination, pleaded not guilty to 34 felony counts of falsifying business records, after an investigation into hush money paid to a porn star. While falsifying business records in NY on its own is a misdemeanor punishable by no more than 1 yr in prison, it is elevated to a felony punishable by up to 4 yrs in prison, when done to conceal another crime. Many legal experts assert the case remains weak & will fail to lead to an actual trial next year.
1000’s of farmers protested across Romania on Friday over the impact of Ukrainian grain imports on prices, blocking traffic & border checkpoints with tractors & trucks urging the European Commission to intervene. Anger is rising among farmers in Central & Eastern Europe, over a flood of cheap Ukrainian grain imports, exempt from customs fees until June 2024, which have hurt prices & sales of local producers.
71 Chinese military aircraft crossed the median line of the Taiwan Strait on Saturday; U.S. employers maintained a strong pace of hiring in March, with nonfarm payrolls increasing 236K for the month; Finland’s outgoing Prime Minister Sanna Marin announced she is stepping down as leader of the Social Democratic party; U.S. manufacturing activity slumped in March to the lowest level in nearly 3 years
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Last week’s economic and financial news saw a mixed bag of updates. Global markets were mostly up, with the US facing a growing wave of global de-dollarization as BRICS push for a new common currency. Meanwhile, cryptocurrencies were in the spotlight with the US Fed judge temporarily stopping the $1.3B sale of Voyager Digital to Binance and CFTC suing Binance for alleged violations of federal laws governing commodities markets.
On the financial front, German consumer prices continued to rise, exceeding Euro-area average inflation rates in recent months. The failed Silicon Valley Bank was also in the news as First Citizens acquired its deposits and loans for up to $500M in stock. In France, 40% of the stocks for 65,000 tons of natural gas were owned by foreigners, as the country looks to buy more natgas from China in Yuan.
In corporate news, Alibaba announced its biggest restructuring in 24 years, splitting into six units and exploring fundraisings or listings for most of them. Meanwhile, Baidu launched an AI fold with “Ernie-bot,” and four artificial intelligence experts expressed concern after their work was cited in an open letter calling for an urgent pause in research. The letter was co-signed by Elon Musk and called for a six-month pause in developing systems more powerful than Microsoft-backed OpenAI’s new GPT-4.
Finally, in trade news, South Korea saw exports fall for the sixth month in a row in March, highlighting ongoing challenges for Asia’s fourth-largest economy. All in all, it was a busy week for the economic and financial world, with plenty of developments to keep an eye on in the coming weeks.
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In today’s recap, Marcello talks about how the banking crisis is affecting Europe as well; Deutshce Bank’s shares had a rough week after the cost of insuring the bank’s debt against the risk of default; Coinbase is seing its shares plunge again due to recent government statements on enforcement action for violations of federal securities laws; California has lost billions of dollars of food due to recent floods; Spain is likely to halve its olive oil output.
Germany’s largest bank Deutsche Bank shares tumbled on Friday after the cost of insuring the bank’s debt against the risk of default surged to over 4-year highs, highlighting concerns among investors about the stability of Europe’s banks. Deutsche shares, which have lost more than a 20% of their value so far this month, fell by as much as -14.9% on Friday to their lowest in 5 months. The shares ended down -4.30% at $9.23. The bank has seen $3B wiped off its market value in the space of just 1 week.
Coinbase Global engaging in tech & financial products & services, offers crypto-powered technologies saw shares -8% on Wednesday & -14.05% Thursday at $66.30, after it said in a regulatory filing it received a Wells Notice from the U.S. SEC stating it had made a preliminary determination to recommend an enforcement action against the largest U.S. crypto exchange for violations of federal securities laws. The stock +87.34% in 2023, but is still down -64.49% y/y, with a market cap of $17.5B.
World’s largest olive oil producer, Spain, is likely to halve its output this year vs 2022 due to drought, pushing prices up. Spain usually supplies about 40% of the global output. Heatwaves & severe drought in Spain & in number 2 & 4 producers Italy & Portugal have reduced stocks. Only EU’s 3rd largest producer, Greece, not hit by the weather conditions, was expecting higher production, though not enough to offset the decline in Spain. Estimates at least 10% less olive oil available worldwide this year,
Deutsche WertpapierService Bank AG (dwpbank), a German securities processing giant that manages over 5.3M securities accounts, announced the launch of its new platform, wpNex, that enables over 1,200 affiliated banks to offer Bitcoin trading to its retail customers. Financial planning advisory corporation MLP Banking AG is taking advantage of the opportunity to become the 1st to offer crypto trading to its customers.
As California’s onslaught of rain, wind & mountain snow subsided, downed power lines from Tuesday’s storm leftover 92K homes & businesses without electricity Wed. while lingering floods kept 14K people under evacuation orders. Nearly 48K others statewide warned to be ready to flee to higher ground, if swollen streams overflow their banks or storm-weakened levees fail. California’s exceptionally wet winter is an abrupt change for a state preoccupied in the past few years by drought & wildfires.
India is set to eclipse China as the most important driver of global growth & therefore oil demand & potentially the last major economy driven by fossil fuels, as the world shifts to a greener future. A swelling population, which has already surpassed that of China, will help to underpin that growth along with consumption trends. India’s transition from traditional gasoline & diesel-fueled transport is expected to lag other regions, whereas China’s adoption of electric vehicles is already skyrocketing.
Fitch Ratings on Friday cut Argentina’s foreign currency rating to “C” from “CCC-” citing an “imminent” default after the country ordered public sector bodies to sell or exchange their holdings of some sovereign dollar bonds. A presidential decree said on Thursday that public sector bodies would have to sell or auction 5 local law dollar bonds maturing between 2029 & 2041, & to swap 7 foreign law dollar bonds for peso debt.
The visit by Chinese President Xi, his 1st to Russia since Putin invaded Ukraine just over a year ago, marked a political win for both leaders; Shares of GameStop surged +35.24% on Wednesday at $23.87, after the gaming retailer posted a quarterly profit for the 1st time in 2 years with net profits at $48.2M.
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In this week’s recap, recent economic data have shown inflation in line with target and have eased investor concerns about bank contagion, although year-over-year inflation remains elevated at 6%. The inflation rate has declined for the eighth consecutive month, with a slowdown in food price increases offsetting higher gasoline prices and another rebound in rents. Food prices are up 9.5%, energy prices are up 5.2%, clothing prices are up 3.3% and new vehicle prices are up 5.8%. Housing costs are up 8.1%, accounting for more than 70% of the overall increase. In the banking sector, First Republic is the fourth bank to fail this year, but reports suggest that the nation’s largest banks are discussing a joint bailout of the lender. The Wall Street Journal has also reported that 186 banks have been found to have vulnerabilities similar to Silicon Valley Bank.
In the commodities market, oil has continued to suffer losses as the ripple effects of the biggest U.S. banking collapse since 2008 continue to be felt across financial markets. Oil prices fell to 15-month lows on Wednesday, with U.S. crude down 14.89% from $76.68 to $66.74 and Brent down 13.44% from $82.78 to $72.97. Meanwhile, UBS AG has reported that China is stepping up its efforts to mine lithium and is expected to account for nearly a third of global supply by mid-decade. The bank expects Chinese-controlled mines, including projects in Africa, to increase production to 705,000 tons by 2025, up from 194,000 tons in 2022. This would increase China’s share of this essential mineral for electric vehicle batteries to 32% of global supply, up from 24% last year. In other news, the London Metal Exchange has found bags full of stones instead of nickel in one of its warehouses, raising fears that the claims about #gold and #silver are also true. On a positive note, gold had its best week in three years and jumped back above $1,900 an ounce.
In corporate news, United Airlines’ shares fell by 5.37% on Tuesday, closing at $46.21, after the carrier forecast a Q1 loss due to weaker demand growth compared to other months and higher fuel costs. Tesla has announced that it is returning to using electric vehicle motors with no rare earth elements, but this move may be problematic as China is a major producer of these elements. On Tuesday, Meta Platforms announced that it will cut 10,000 jobs this year, becoming the first Big Tech firm to announce a second round of mass layoffs as the industry braces for a deep economic downturn. The cuts are part of a restructuring effort that will end hiring for 5,000 openings, stop lower-priority projects, and flatten layers of middle management. Meanwhile, Samsung expects to invest $230 billion over the next 20 years to develop the government-called world’s largest chip-making base, in line with efforts to boost the national chip industry. On Wednesday, T-Mobile US Inc announced that it will buy Ryan Reynolds’ Mint Mobile for $1.35 billion, allowing T-Mobile to tap into a larger share of the pay-as-you-go customer base. The numbers are expected to swell as credit-challenged people shy away from hefty monthly bills. In other news, Saudi Aramco has reported a record-breaking net income of $161.1 billion, a staggering 46.5% surge in its net income due to strong crude oil prices, resulting in a blowout annual profit.
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In today’s recap, Marcello talks about the recent events that might indicate the beginning of the crisis that has been knocking on the world economy’s door for the last couple of months; this week, the 2nd largest bank collapse in history just happened to Silicon Valley Bank, and also Silvergate Bank apparently collapsed as well; both of these situations dragged down the markets with them.
Shares of SVB Financial Group fell -60.41% on Thursday at $106.04, after the firm said it intends to offer $1.25B of its common stock & $500M of depositary shares, weighing on the entire banking sector on concern that more banks, will incur heavy losses on their bond portfolios. SVB Financial also cut its Q1 net income guidance. Shares were down another -61% in premarket trading Friday at $36.10. The stock is down -53.92% in 2023 & -80.01% y/y, with a market cap of $15.83B.
Crypto lender Silvergate Bank 1 of the biggest lenders to major crypto firms, facilitating transfers between exchanges & market makers stock sank -42.16% on Thursday at $2.84, after the firm announced it will wind down operations & liquidate. The bank has been struggling for months, including reporting a $1B net loss in Q4. The stock is down -83.68% in 2023 & -97.70% y/y, with a market cap of $155.44M. By Friday morning Bitcoin had plunged over -2% to below $20K.
For every dollar the U.S. federal government takes in, $1.29 is spent. Under the Congressional Budget Office’s new projection, that number will go up to an average $1.34 over the next ten years. According to conservatives, this has become a spending problem not a revenue problem. The federal U.S. debt at present is at $31.6T. That works out to be $94,466.00 per person & $246,867.00 per U.S. taxpayer.
Shares of crypto-focused companies fell on Thursday, after Silvergate Capital Corp disclosed plans to wind down operations & voluntarily liquidate, as the aftermath of FTX’s implosion last year reverberates through the industry. Analysts claim a complete closure of the crypto lender could take 1 or 2 years depending on how quickly outstanding loans are repaid & assets are disposed of. Bitcoin fell some -1% to below $21,500.00
Long-time regional foes Iran & Saudi Arabia agree to resume diplomatic relations & reopen embassies in each other’s countries following China-led negotiations in Beijing. Saudi Arabia cut ties w/Iran in 2016 after its embassy in Tehran was stormed during a dispute between the 2 countries over Riyadh’s execution of a Shi’ite Muslim cleric. In recent years Saudi Arabia has blamed Iran for missile & drone attacks on its oil facilities in 2019, as well as attacks on tankers in Gulf waters. Iran denies the charges.
A Peruvian judge Thursday, extended former president Pedro Castillo’s pre-trial detention to 3 yrs. Castillo, who was ousted & arrested in Dec, was already being held over charges of rebellion, to which prosecutors added criminal organization, collusion & influence trafficking. Castillo, has been imprisoned since 12/7, when he was arrested after attempting to dissolve parliament & rule by decree. The leftist leader had been trying to ward off a 3rd vote in Congress, to impeach him for alleged corruption
The post March 12: Beginning of the crisis? 2nd largest bank collapse in history, Crypto Bank collapses as well (Recap ep218) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello tells us that Elon Musk is again the world’s richest man after the stocks from Tesla spike 70%; Crypto Companies Behind Tether/Bitfinex Used Falsified Docs & Shell Companies to Get Bank Accounts; The largest supermarkets in UK are now strictly rationing many fruits and vegetables, 22% British households skipped meals or even fasted for a whole day in January.
Russia’s grain exports are booming as buyers load up on its attractive bumper supplies. The country’s shipments of wheat, its main crop, almost doubled in January & February from a year earlier.
Brazil’s President Luiz Inacio Lula da Silva promised to bring prosperity back in what his campaign called “barbecue & beer” for all. 2 months into his presidency, the economy he inherited is cutting his honeymoon short & has him rushing to stem the damage. Official data released Thursday showed Brazil’s GDP fell -0.2% in Q4 2022, snapping 5 straight quarters of growth. The economic downturn is widely expected to continue this year.
Colombia faces uncertainty after the 1st leftist president in its modern history Gustavo Petro embarked to end contracting for energy exploration. Industry tax hikes have already increased the level of fear & there are major concerns his plan will not only shock Colombia’s petroleum-dependent economy, but endanger its energy security & spark a crisis. The growing shortage of natural gas will likely trigger an energy crisis, w/declining domestic supply & rising demand already having forced Colombia to significantly increase liquified petroleum gas imports.
Last year, China approved the construction of another 106 gigawatts of coal-fired power capacity, the equivalent of 2 large coal power plants per week & its highest in 7 years. China had suffered a wave of blackouts in September 2021, as a result of coal supply shortages, cutting off 1000’s of homes & factories. Many of the newly approved projects are identified as supporting base load capacity designed to ensure the stability of the power grid and minimize blackout risks.
After 5 consecutive weeks of losses, the gold market posted its 1st weekly gain; Russia & the United States’ top diplomats spoke in person on Thursday, for the 1st time since the invasion of Ukraine, on the sidelines of a G20 meeting where ministers traded blame over the conflict; Elon Musk’s latest plan for Tesla Inc. fell flat as the electric-car maker shared few details about the next-generation models that will underpin its next phase of growth.
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In today’s Recap, Marcello talks about the hacking that the Dole Food Company suffered, leaving ALL its North America Production in a halt, This firm is one of the world largest producers of fruits and vegetables; Poland has started Installing Anti-Tank barriers along its order with Belarus; Tuesday was the worst session of the year so far for all the US stock indexes.
U.S. inflation data for January was hotter than expected. The core price index y/y came in at +4.7% vs the estimate of +4.3%. January’s rate M/M was +0.6% vs +0.4% estimated. Price index inflation for the month y/y is at +5.4%. Personal spending was up +1.8% vs +1.3% estimated. January’s personal income up +0.6% vs. +1.0% expected. Inflation is now costing American consumers an extra $395.00 a month.
Labor Department data shows that the average cost for food consumed in U.S. homes climbed +11.3% in January from a year earlier. That was nearly 5% above the overall rate of inflation, among the widest gaps since the 1970s. Food cost increases have now outstripped broader inflation for nearly a year. Higher prices on food have led to fewer sales of electronics, toys, home & apparel.
Russia’s invasion of Ukraine, Europe’s biggest conflict since WWII has disrupted economies & markets globally, from energy & food prices to European banks, emerging market stocks & Russia’s currency. The U.S. dollar remains the ultimate safe haven in a time of uncertainty. The economic fallout of the war, which hit currencies such as the Euro hard, instead lifted the dollar. U.S. dollar is down from Sept’s 2-decade high, but it’s still up +8% vs. a basket of major currencies since the conflict began a year ago.
The Group of Seven nations consisting of Canada, France, Germany, Italy, Japan, U.K. & the U.S. are preparing new, further-reaching sanctions on Russia a year after its invasion of Ukraine, targeting key economic sectors & other countries or organizations who help Moscow’s war effort. Leaders of the bloc of developed nations will meet virtually on Friday with Ukrainian President Zelenskiy to mark the 1-year anniversary of Russia’s invasion & are expected to announce the sanctions package.
Archaeologists have discovered a 4,500-year-old remains of a lost palace from the ancient Sumerian city of Girsu in southern Iraq, by using tech & drone photography, to identify the subsurface remains of a previously unknown large complex.
South Africa is now experiencing an unprecedented level of power blackouts; The Labor Department Thursday said that the number of Americans filing new claims for unemployment benefits unexpectedly fell last week; House Depot misses its revenue expectations for 1st time since Nov 2019.
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In this week’s recap, we have a lot of “strange world” and “Marcello conspiracy” moments. The WSJ published an article advising to skip meals to save money, perhaps starvation is the solution to inflation. Microsoft’s IA chatbot said manufacturing a deadly virus, making people argue with other people until they kill each other, and stealing nuclear codes. Damage from chemical train derailment in Ohio continues to emerge. A theory is emerging that Nord Stream was blown up by the CIA.
Yep, we have “conspiracy Marcello” for a while.
Continue layoffs in US: Docusign – 700 employees = 10% of company, Yahoo – 1,600 = 20%, Twilio – 1,500 = 17%, Wix – 370 = 6%, irobot (roomba maker company) 85 = 7%. Amazon closed its slowest year of growth in the company’s history. Expectations US earnings-worst earnings season outside of a recession in 24 years.
Lawsuits rising against freight rail operator Norfolk Southern facing public backlash train derailments: First one led to a chemical disaster in East Palestine, Ohio;2nd one SE Michigan outside Detroit (same company); 3rd plant nursery fire in Kissimmee – no hazardous materials; 4th Truck Overturns In Arizona, Spills Nitric Acid, Shelter-In-Place Reinstated.
Russian Finance Ministry decides to sell gold to cover January budget deficit; PM Albin Kurti of Kosovo says accept EU proposal, for full normalization of relations between Kosovo & Serbia; International team astronomers confirms existence of K2-415b, an Earth-sized exoplanet circling just 72 light years away from Earth; 10’s of 1000’s of homes North New Zealand now without electricity due to powerful cyclone.
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Marcello is bringing us some news about a moment of internet blackout in Italy this week, As well as a new direction from the US’s IRS that might cause heavy consequences on the middle and lower class; We have also reached a new record regarding crypto hacks.
Days after a huge earthquake brought death & destruction across southern Turkey & northwest Syria, the confirmed death toll from the deadliest quake in the region in 2 decades stood at 21K in both countries on Friday. 100’s of 1000’s more people have been left homeless & short of food in very bleak winter conditions, now desperate for a multi-national relief effort to alleviate their suffering.
On Thursday, Turkey’s stock exchange suspended trading for 5 days & canceled all trades executed on Wednesday, following a selloff that erased billions of dollars from the value of main equities after the 2 devastating earthquakes. It is the 1st market-wide suspension of trading in Istanbul since 1999.
North American companies struggling to hire workers in the tightest labor market in decades brought on more robots last year than ever before. Companies, overwhelmingly located in the U.S. ordered just over 44,100 robots in 2022, an 11% increase over the previous year & a new record. The value of those machines totaled $2.38B, an +18% increase over the prior year, according to data.
Yahoo plans to lay off more than 20% of its total 8,600 workforce as part of a major restructuring. The tech company is reorganizing its advertising unit, which will lose over 50% of the department by the end of the year. Apollo Global Management, a private equity firm, acquired Yahoo in 2021 for $5B from Verizon, which had bought the company in 2017.
Microsoft co-founder Bill Gates believes ChatGPT, a chatbot that gives strikingly human-like responses to user queries, is as significant as the invention of the internet, in an interview published on Friday. “Until now, artificial intelligence could read & write, but could not understand the content. The new programs like ChatGPT will make many office jobs more efficient by helping to write invoices or letters. This will change our world,” he said.
Following a round of new sanctions from the West, Russia is now facing more challenges in holding up its production of oil, a key source of revenue for the state budget, which posted a $25B deficit in January alone. Reduced export volumes also shrank Russia’s current account surplus by 58.2% to $8B in January, squeezing Russia’s capital buffers at a time when Russia needs to ramp up budget spending due to the war in Ukraine.
The U.S. is preparing to impose a 200% tariff on Russian-made aluminum as soon as this week, to keep pressure on the Russian government, as the 1-year anniversary of the invasion of Ukraine nears. There are still concerns in the Biden administration about collateral damage on U.S. industries, specifically aerospace & automobiles
On Friday, a U.S. F-22 fighter jet shot down an unidentified object flying high over Alaska; The global gas & oil industry had historic gains from the fallout of the war in Ukraine; Credit Suisse is dealing with a disaster. Shares fell -14.73 on Thursday to the bottom of the European STOXX 600 index; The U.K. economy indicated zero growth in Q4 2022 – enough for it to avoid entering a recession for now, but faces tough prospects in 2023.
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The United States World Order may be coming to an end, according to Marcello’s analysis in today’s Recap. More and more countries are analyzing the idea of trading directly among them, using their own currencies and leaving the dollar out of the negotiation. January’s rapid job creation dents concerns about a coming recession, reducing the likelihood that the Federal Reserve will be forced to cut interest rates soon. U.S. Traesury Department will make more Tesla vehicles elegible for tax credits.
On Friday the U.S. Treasury Department said it will make more Tesla, Ford Motor, General Motors & Volkswagen electric vehicles eligible for up to $7,500 tax credits, after it revised its vehicle classification definitions in a win for automakers which had pressed the Biden administration to change the vehicle definitions. Under the $430B climate bill approved in August, SUVs can be priced at up to $80K to qualify for EV tax credits, while cars, sedans & wagons can only be priced at up to $55K.
Indian tycoon Gautam Adani lost his title of Asia’s richest person on Wednesday, as the rout in his conglomerate’s 7 listed companies deepened to $84B in the wake of a short-seller report. Wednesday’s stock losses saw Gautam slip to 10th on Forbes rich list with an estimated net worth of $84.1B, just below rival Mukesh Ambani, the chairman of Reliance Industries Ltd who has an estimated $84.4B.
U.S. officials said on Thursday, that a Chinese spy balloon has been flying over the United States for a couple of days, just days ahead of a planned trip to Beijing by U.S. Secretary of State Antony Blinken. Fighter jets were mobilized, but military leaders have advised President Biden against shooting the balloon down for fear the debris could pose a safety threat, advice that Biden has accepted at this point.
The fastest growing social media firm is ChatGPT, a learning artificial intelligence tool chatbot, launched by OpenAI (a private company) in November 2022. It has acquired 100M users in the last 2 months. OpenAI, the company that created ChatGPT, will soon roll out a paid version of the service in a pilot project, where people willing to spend $20 a month will get a premium version.
South Korea’s export numbers in January fell -16.6% on an annualized basis. For the month exports fell -$46.3B & imports fell -$59B or -2.6%, resulting in a deficit of -$12.7B. South Korea saw a trade deficit of -$47.5B for the year of 2022. It marks the worst trade deficit since the customs agency started compiling data in 1956, far more than the -$20.6B trade deficit seen in 1996.
Layers upon layers of ice, sleet & freezing rain over the course of days made driving conditions life-threatening & snapped tree branches that eventually knocked down power lines for 100’s of 1000’s in the U.S. south. In the Northeast temperatures broke record lows with wind chill warnings in effect into Saturday, as readings dip as cold as -30 to -50 below zero in some spots.
U.S. based Ford Motors shares fell -7.61%; Shares of Amazon fell -8.43% on Friday at $103.39; The number of Americans filing new claims for unemployment benefits dropped to a 9-month low last week; U.S. job creation in the private sector plunged in January.
The post February 5: United States World Order Coming To End, Recession Coming in Hot, Tesla Beats! (Recap ep213) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello tries to explain how Chat GPT, which recently announced a paid version, has the potential to become the latest billion-dollar venture for Elon Musk; UAE and India are talking about using rupees instead of dollars to settle non-oil trades, which adds pressure on the dollar as a global reserve currency; and a new study suggests that the earth’s core may have stopped spinning or may even be spinning backwards.
U.S. orange juice prices are expected to rise to over $6.00 a gallon. Lowest crop in Florida in 90 years expected. First there was Hurricane Ian, followed by frosts, then Hurricane Nicole & then a greening disease working its way across the state. There will be 18 million boxes of 80 pounds each. 56% less than last season. Lowest since the 1936-37 season. There were 24 million boxes at the peak in the industry.
Shares of U.S. based credit card company American Express rose +10.54% on Friday at $172.31, despite weaker-than-expected results for Q4. It reported $2.07 in EPS on $14.18B of revenue, but guidance for 2023 was better than anticipated for earnings & revenue. Also says it will be increasing its dividend by 15%. The stock is up +16.62% in 2023, but still down -2.68%, with a market cap of $128.76B.
Shares of Tesla +10.97% Thursday at $160.27, after beating on the top & bottom lines, despite mixed analyst sentiment about the EV manufacturer’s outlook. It reported automotive revenue of $21.3B in Q4 & adjusted EPS of $1.19. January is seeing the strongest orders YTD than ever in history according to Elon Musk. He claims Tesla is currently seeing orders of almost twice the rate of production. The stock has risen +30.11% in 2023, but remains -43.19% y/y, with a present market capitalization of $456.07B.
Shares of India’s Adani Enterprises sank nearly -20% on Friday, as a report by a U.S. short seller triggered a rout in the conglomerate’s listed firms, casting doubts on how investors will respond to the firm’s record $2.45B secondary sale. 7 listed companies of the Adani conglomerate, controlled by 1 of the world’s richest men Gautam Adani, have lost a combined $48B in market capitalization since Wednesday.
On Wednesday U.S. tech giant IBM announced job cuts, saying they were related to the previously announced spinoff & sale of 2 business units. Some 3,900 positions, or 1.5% of its global workforce, are expected to be let go. The move will cost IBM about $300M this quarter, a spokesperson has confirmed.
President Biden announced on Wednesday, that the U.S. will send 31 M1 Abrams tanks to Ukraine, matching a German decision to immediately provide Leopard tanks that Ukrainian government says are essential in their fight against Russia. The Abrams tanks are not expected to reach the battlefield for months related to the time needed to procure the tanks & carry out the training necessary for Ukrainian forces.
Shares of U.S. based Sherwin Williams engaged in the manufacture & trade of paint & coatings fell -8.92% on Thursday; Despite high inflation, rising interest rates & an energy shock U.S. gross domestic product (GDP) grew +2.1% in 2022.
The post January 29: Elon Musk’s next Billion dollar Co, Dollar Collapse immenent? Earth is in trouble (Recap ep212) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello addresses the situation where tech firms are on their way to more massive layoffs and its possible effects on the market; WEF assistants are being questioned for using thousands of private jets to attend the forum while claiming for greener ways of living; and Brazil’s lower than expected coffee harvest might cause an unprecedented coffee shortage across the globe.
According to data compiled by the Layoffs.fyi website over 55,000 global tech-sector employees have already lost their jobs in 2023. The total of global tech layoffs in 2023 has doubled this week. It had recorded just over 25,000 as of Tuesday. The data suggest 2023 is on pace to surpass 2022 for global tech redundancies, with 154 tech firms laying off 55,324 employees in the 1st few weeks of 2023. Last year, 1,024 tech firms laid off 154,336 employees.
Alphabet, which is Google’s parent, saw shares rise +5.72% on Friday at $99.28, after CEO Sundar Pichai announced the company will lay off 12,000 employees noting in a memo that the company hired for a different economic reality than the one we face today. The stock is up +11.89, but down -23.68% year on year, with a market cap of $1.28T.
World market faces coffee shortages for an unprecedented 3rd consecutive year, due to lower-than-expected harvest from top grower Brazil, according to coffee trader Volcafe. Global supply will be behind demand by 3.8M bags in the next season, with robusta beans hitting a record shortfall amid surging demand for the variety used in instant coffee & as a blend in espressos. The shortfall comes after demand in the current season is seen as outstripping supply by 4.5M bags.
The U.S. government has hit its $31.4T borrowing limit, amid a standoff between the Republican-controlled House of Representatives & President Biden’s Democrats on lifting the ceiling, which could lead to a fiscal crisis in a few months. Treasury Secretary Janet Yellen informed congressional leaders that her department had begun using extraordinary cash management measures that will stave off default until June 5.
According to data released by the National Statistics Bureau, China’s population began shrinking in 2022, for the 1st time in 6 decades, compounding a worsening demographic crisis for the world’s 2nd largest economy. At 1.41 billion people at the end of last year, 850K fewer than the end of 2021, it marks the 1st drop since 1961, the final year of the Great Famine under former paramount leader Mao Zedong.
Police in Peru fired tear gas near congress Thursday, as protesters massed in downtown Lima to try to topple the weak government of President Dina Boluarte. As the nation’s political crisis enters its 7th week, demonstrators from rural areas traveled 100’s of miles in buses & trucks to voice discontent with the change in government.
The construction of Finland’s 1st industrial-scale green hydrogen production facility began on Friday, its future operator P2X Solutions said. Green hydrogen is produced using renewable energy to split water by electrolysis. It is seen as a major power source that will help Europe end its previous dependency on Russian energy & to reduce carbon emissions. A number of countries & companies have announced investments in green hydrogen production, but few of the plans are in advanced stages.
The number of transistors on a microchip has doubled every year since the 1960s. But will soon plateau because silicon, loses its electrical properties once devices made from this material dip below a certain size. 2D materials two-dimensional sheets of perfect crystals can be as thin as a single atom. At the scale of nanometers, 2D materials can conduct electrons far more efficiently than silicon. The search for next-generation transistor materials therefore has focused on 2D materials, as potential successors to silicon.
the U.S. Federal Reserve is investigating Goldman Sachs Group’s consumer business to determine whether the bank had appropriate safeguards in place; India is now set to export a record 50M eggs this month; Cryptocurrency firm Genesis filed for Chapter 11 bankruptcy; New Zealand Prime Minister Jacinda Ardern will not seek reelection & plans to step down no later than early Feb; The U.S. has now had 2-consecutive monthly declines in retail sales.
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The egg shortage in the US brought on by the avian flu is leaving retail locations like Costco without eggs on their shelves; The Fed is likely to keep on track to further slow the pace of interest rate hikes due to inflation data showing cooling price pressures; and Airplanes across the USA were grounded and flights were canceled due to an FAA outage. This is the first time since 9/11 that all flights within the USA have been grounded. Last week, the airspace of Canada and the Philippines was also closed. These and other topics are discussed by Marcello in this week’s recap.
SEC charged crypto firms Genesis & Gemini with allegedly selling unregistered securities in connection with a high-yield product offered to depositors. Gemini, a crypto exchange & Genesis, a crypto lender, partnered in Feb. 2021 on a Gemini product called Earn, which touted yields up to +8% for customers. SEC says, Genesis loaned Gemini users’ crypto & sent a portion of the profits back to Gemini, which deducted an agent fee, sometimes over +4% & returned the remaining profit to its users.
The cryptocurrency market suffered in 2022, as risk appetite diminished & various crypto firms collapsed. Investors were left with large losses & regulators have stepped up calls for more consumer protection. Data from blockchain analytics firm Chainalysis showed on Thursday, that illicit use of cryptocurrencies hit a record $20.1B in 2022, as transactions involving companies targeted by U.S. sanctions skyrocketed.
The situation with the cryptocurrency market has markedly improved over the past week as Bitcoin saw its 4th straight day of gains on Thursday to over $19K, after the highly anticipated Consumer Price Index (CPI) report largely aligned with expectations & showed that U.S. inflation continues to moderate.
Swedish state-owned mining group LKAB announced on Thursday, that it has identified significant deposits of rare earth elements in the Kiruna area, with mineral resources exceeding 1 million tonnes of rare earth oxides, which is the largest known deposit of its kind in Europe. It could well become a significant building block for producing the critical raw materials that are absolutely crucial to enable a green transition in Europe.
Singer Lisa Marie Presley, the only daughter of the “King of Rock ‘n’ Roll,” Elvis Presley, died Thursday at the age of 54 after being rushed to a LA-area hospital, after suffering cardiac arrest in her home. She is survived by daughter Riley Keough, 33, an actress & 14-year-old twin daughters Harper & Finley Lockwood as well as her mother Priscilla. Her only son committed suicide in 2020, at the age of 27.
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In this week’s recap, US & global markets ended mostly higher. High inflation has been a feature of the economy for about the last year. But how has inflation actually impacted the prices of everyday goods? We show you in a list of selected goods how everything has been impacted by inflation.
The world is short of everything: corn, coffee, wheat, soybeans, plastic cardboard, semiconductor chips, appropriately skilled workers, and so on. Now, the time has come to add sand, the most extracted solid material in existence, to this ever-growing and eclectic list. The importance of sand cannot be overemphasized. Water is the world’s most consumed natural resource; sand is the second. China has sent sand pirates to secure the supply. Both desert and sea sand are totally useless for construction.
Sam Bankman-Fried, pleads not guilty to all criminal charges in federal court. The billionaire pleaded not guilty to 8 charges ranging from wire fraud to conspiracy to prosecute money laundering before federal judge Lewis Kaplan in NYC. A trial date has reportedly been set for October 2.
If you own your home, eat full meals and drink clean water, have a smartphone, can surf the Internet, and have gone to college, you are in the tiny privileged lot (in the less than 7% category). Under current conditions, out of every 100 people, only 8 can live to be 65 or older.
California snowpack highest in 40 years; last week of 2022 mortgage applications fell 42% year-on-year; Croatia, with almost 4 million inhabitants, is the 20th country to adopt the euro; Missouri bill would treat gold and silver as money; IMF Managing Director global economy faces a tough year, expects 1/3 world economy in recession; Salesforce plans to lay off 10% of the workforce, or near 8K employees; Chinese officials are discussing plans to resume some imports of Australian coal; Qualcomm Tech unveiled processor chip for a car called Snapdragon Ride Flex SoC; Mexican security forces captured drug cartel boss Ovidio Guzman.
The post January 8: World running out of Sand, NFT scams, Largest Crypto Bank Bank? (Recap Ep209) appeared first on Investing & Day Trading Education: Day Trading Academy.
On today’s recap, Marcello goes over the aftermath of the Fed’s interest rate increases that have occurred throughout the year in order to control inflation. Despite all the efforts made by the government, 2022 is looking to be the worst year for the economy since 1871.
The U.S. Federal Reserve is committed to a historic tightening monetary path, with interest rate hikes at the most rapid pace since the early 1980’s. But as the domestic economy grinds to a halt & inflation likely cools, as government spending increases slip, a growing number of economists expect the Fed to be forced to cut interest rates in 2023.
There is increasing evidence that China’s economy will be unable to overtake the GDP of the U.S. The Chinese rate of growth is slowing, the real estate sector in China is in serious trouble & the Chinese labor force is shrinking, due to a rapidly aging population & declining birthrate. Increasing trade barriers, lower foreign investment & increasing impediments to technology transfers are also factors, along with a growing government interference in the affairs of business & the economy.
U. S. retail sales rose +7.6% between Nov. 1 and Dec. 24, the majority of the holiday season, as steep discounts brought in consumers. The increase is higher than the +7.1% growth Mastercard had forecast in September, when it anticipated consumers would pull purchases to October, in the quest for early deals. This year’s holiday retail sales growth however, is less than the +8.5% increase in 2021, as decades-high inflation, rising interest rates & the threat of a recession have made consumers more cautious.
On Friday, Venezuela’s opposition national assembly voted to remove interim President Juan Guaido, dissolve his government & appoint a commission to govern the country’s foreign assets, as lawmakers seek a united front ahead of elections slated for 2024.
The surge in U.S. egg prices has stood out in 2022, as Americans saw their grocery bills skyrocket. Average egg prices jumped +49.1% in November vs. a year earlier, in the largest annual percentage increase among all grocery items in that period, according to the CPI.
Former German born Pope Benedict, who in 2013 became the 1st pontiff in 600 years to resign, died on Saturday aged 95, in a secluded monastery in the Vatican, where he has resided since stepping down as head of the Papacy.
The post January 1: The worst year since 1871 (recap ep208) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello discusses how Elon Musk has lost ground to Bernard Arnault as the richest person in the world as a result of a sharp decline in Tesla stock prices; rolling blackouts have affected many US states in recent days due to extreme weather; and one of the largest bitcoin miners, Core Scientific, has filed for bankruptcy.
Elon Musk once worth $340B, is no longer the world’s richest man after a sharp drop in the value of his shares in electric car company Tesla this year down -57.35% in 2022, losing the top spot to France’s Bernard Arnault, the chief executive of LVMH, the luxury group that owns brands like Louis Vuitton. Musk has seen his total wealth fall by over $100B since January, to $168.5B. That’s less than the $172.9B net worth of Arnault, whose wealth largely derives from his 48% ownership of LVMH.
It was reported on Monday that China’s business confidence fell to its lowest since January 2013 (since the survey began), released by World Economics, reflecting the impact of surging COVID-19 cases on economic activity, with the abrupt lifting of many pandemic control measures. The index fell to 48.1 in December from 51.8 in November, a survey of sales managers at over 2,300 companies conducted Dec. 1-16.
The U.S. economy grew much faster than previously thought in Q3, a sign that the Federal Reserve’s battle to cool the economy down to fight inflation is having a limited impact to date. The GDP grew at an annual pace of +3.2%, above the +2.9% estimate made a month ago. Economists had expected GDP to stay unchanged from its previous reading.
In 2023, Goldman Sachs is predicting that copper prices will reach record high prices of $11,000 per tonne. Stores of the industrial metal are dangerously low, according to commodity trader Trafigura. Just enough to cover 4.9 days of production earlier this year, & now predicts that stores will shrink to 2.7 days by the end of 2022. Copper is a key component in green energy technologies, notably electric vehicle (EV) production.
Billionaire Microsoft co-founder Bill Gates has amassed nearly 270K acres of farmland across the country, compared to 900M total farm acres, but a different billionaire privately owns 2.2M acres, making him by far the largest landowner in the U.S. John Malone, the former CEO of Tele-Communications Inc., which AT&T Inc. purchased for more than $50B in 1999, has a variety of ranching & real estate businesses, primarily in Maine, New Mexico, Colorado & Wyoming.
Over two-thirds of the U.S. population (240M) is under an extreme weather alert on Friday, as a deep freeze enveloped much of the country ahead of the holiday weekend, disrupting travel plans, knocking out power to businesses & at least 1.5 million homes as well as causing at least 3 deaths so far.
The U.K. economy contracted more than originally thought in Q3, putting it bottom among the Group of 7 top advanced industrial nations in terms of quarterly growth; China is planning to scrap quarantine requirements for overseas travelers next month; Taiwan Semiconductor is in talks with suppliers to build its 1st European chip plant in Dresden, Germany.
The post December 26: Elon Musk loses $100 billion, Blackouts In USA, more Crypto bankruptcies (Recap ep207) appeared first on Investing & Day Trading Education: Day Trading Academy.
Marcello explains us in today’s Recap that Binance lost its key auditor and saw $5 billion in withdrawals in only one day; Colorado has started to pour recycled sewer sludge back into people’s drinking water faucets; the Fed interest rates were raised as anticipated but also hinted additional future rises in an effort to contain inflation.
Canadian Securities Administrators (CSA), Canada’s financial regulator has provided new measures designed to strengthen its oversight of cryptocurrency exchanges, including a ban on margin/leverage trading. For the purposes of these securities regulations, “Platforms located outside of Canada that are accessible by Canadians, are regarded as operating in Canada,” the CSA has stated.
Shares of U.S. automaker Ford Motor Co, fell -7.06% on Friday to $12.12, as it announces another price increase for its highly anticipated electric truck. Ford is trying to balance covering rising raw materials costs, without pricing some customers out of affordability. The stock is down -41.65% in 2022, with a market cap of $48.73B.
This year will go down as the worst year for U.S. Initial Public Offering (IPO) since 1990. 74 firms have raised just $8B via U.S. IPOs thus far in 2022. Proceeds are down an astounding -95% from last year & at least 50% lower, then any of the past 31 years. The U.S. IPO number is down -88% from 2021 & the smallest since 2009.
An enormous aquarium in Berlin burst early Friday, spilling 1M liters (264,172 gallons) of water, around 1,500 exotic fish & debris onto a major road in the busy Mitte district. The site, a complex that houses a Radisson hotel & a museum as well as what Sea Life Berlin said was the world’s largest freestanding cylindrical aquarium at 14 meters (46ft) in height. If it hadn’t happened at 5.45 am, but even 1 hour later, there would have been human casualties.
On Tuesday, U.S. tech titan Apple announced that its safety service Emergency SOS via satellite, is now available to customers in France, Germany, Ireland & the UK. Available on all iPhone 14 models, the technology enables users to message with emergency services, while outside of cellular & Wi-Fi coverage.
U.S. software giant Adobe reported a great 4th quarter, with shares rising 2.99%; Argentina’s annual inflation accelerated less than expected; scientists made a breakthrough discovery at a U.S. federal facility creating more energy from nuclear fusion reactions.
The post December 18: Is Binance Bankrupt? Fed Raises Rates, Colorado Sewage Water for Drinking (Recap ep206) appeared first on Investing & Day Trading Education: Day Trading Academy.
Marcello addresses Tesla’s intentions to significantly reduce Model Y production at its Shanghai facility by over 20% (relative to November) in today’s recap. In a contentious effort to encourage the use of digital payments, Nigeria has outlawed ATM transactions up to $45 per day; in North Carolina, two nights without electricity resulted in frigid temperatures when vandals shot up two electrical substations.
U.S. producer prices (PPI) rose +0.3% last month, which was more than expected in November. Data for October was revised higher to show the PPI gaining +0.3% instead of +0.2%, as previously reported. In the 12 months through November, the PPI increased +7.4% after advancing +8.1% in October. The underlying trend in inflation is slightly moderating, which may allow the Federal Reserve to slow its pace of interest rate hikes next week.
China confirmed what many analysts have long suspected was happening for most of this year, it is buying up gold again. Early Wednesday, the People’s Bank of China reported that it bought 32 tonnes of gold in November alone. According to reports, the central bank bought gold when prices were around $1,650 an ounce. China’s official gold reserves now stand at 1,980 tonnes, but the government likely owns far more, through various entities.
Peru now has a female president for the 1st time ever on Wednesday, after former president Pedro Castillo was impeached just hours after he tried to dissolve parliament. Dina Boluarte, the previous vice-president, was sworn in soon after. Earlier in the day, Castillo had said he was replacing Congress with an exceptional emergency government. However, lawmakers ignored this & in an emergency meeting impeached him. He was then detained & accused of rebellion. Boluarte says she will serve until 2026.
Exxon Mobil Corp. is providing their U.S. employees above-inflation pay increases, weeks after the Texas based oil giant posted its highest quarterly profit, underscoring how strong 2022 has been for the fossil-fuel industry, while other sectors like tech & finance cut jobs. Workers will receive an average salary rise of +9%, & those who got promoted will see a further +5% increase. The current US consumer price index is +7.7%.
A team of chemical engineers at MIT have manufactured a new material that they now claim to be sturdier than steel, but still as light as plastic. The 2-dimensional polymers can put themselves in order into sheets. It potentially gives objects like car parts or cell phones extraordinarily resistant skin. The team is even going as far as to say that it can be easily mass generated.
2-million-year-old DNA has been identified for the 1st time opening a new chapter in the history of evolution. Microscopic fragments of environmental DNA were found in Ice Age sediment in northern Greenland. Using cutting-edge technology, researchers discovered the fragments are 1 million years older than the previous record for DNA sampled from a Siberian mammoth bone.
Crude oil has posted the biggest weekly loss since April; U.S. state of New Mexico is set to overtake Mexico’s crude oil production in the current month.
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In this week’s Recap, Marcello tells us about how the snowball of bankruptcies following the collapse of FTX is growing nonstop; A group of scientists has found and replicated some frozen viruses found in the Siberian permafrost; The dollar is still driving down a complicated road: Ghana wants to pay for oil products with gold rather than dollars.
U.S. cryptocurrency brokerage Genesis says it is seeking to avoid bankruptcy after a report on Tuesday that creditors to the firm are organizing with restructuring lawyers to prevent insolvency. The news comes as U.S. state securities regulators are investigating Genesis Global Capital as part of a wide-ranging inquiry into the interconnections of crypto firms, citing a comment from the Alabama Securities Commission director. The crypto lending arm of U.S. digital asset broker Genesis Trading suspended customer redemptions earlier this month.
Turmoil at Apple key manufacturing hub of Zhengzhou is likely to result in an output shortfall of close to 6M iPhone Pro units this year. Although the situation remains in flux at the plant & the estimate of lost production could change. Much will depend on how quickly Foxconn Technology Group, the Taiwanese company that operates the facility, can get people back full time to assembly lines after violent protests against Covid lockdown restrictions.
China’s coal production is set to rise for the 6th consecutive year to a record 4.4B tons, driven by faster capacity expansions at major mines, China Energy News reported this week, which will likely cause a further decline in coal prices.
At a 2-day summit in Bucharest, the Romanian capital, the North Atlantic Treaty Organization (NATO) vows to make Ukraine a member of the military alliance. It was 14 years ago (in the same city) that foreign ministers first pledged that Ukraine would eventually join & they remain firmly behind the commitment. Meanwhile, Russian missile & drone attacks keep hitting civilian infrastructure across the country, with strikes that have heavily damaged Ukraine’s power, water & energy infrastructure.
India posted a year-on-year GDP growth of +6.3% for Q3, fractionally beating forecast estimates of 6.2%. According to S&P Global & Morgan Stanley, India is projected to overtake Japan & Germany to become the world’s 3rd-largest economy by 2030. The prediction is premised upon the projection that India’s annual nominal GDP growth will average +6.3% through 2030. Morgan Stanley estimates that India’s GDP is likely to more than double from current levels by 2031.
China’s former leader Jiang Zemin, who came to power after the Tiananmen Square protests as a compromise between political hardliners & reformers, has died at 96. Zemin paved the way for the country’s emergence as a global superpower. His death comes as China sees some of its most serious protests since Tiananmen, with many demonstrating against Covid restrictions. During his tenure from 1989 to 2002, China joined the World Trade Organization (2001) which was probably the key catalyst to the great growth spurts of double-digit growth for the decade that followed.
German exports fell more than expected in October; Baidu plans to establish the world’s largest fully driver-less ride-hailing service area in 2023; An experimental Alzheimer’s drug from Eisai & Biogen slowed cognitive decline in a closely watched trial, but may carry a risk of serious side effects for certain patients; World’s largest active volcano by volume burst into life for 1st time in 40 years.
The post December 4: Crypto Bankruptcies Cont, New Virus Found, last Nail in collapse of dollar? (Recap ep204) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello warns us about the hike in prices that food has suffered. While governments claim that inflation is low, food prices for the Thanksgiving holiday have risen by 20%; Elon Musk has stated that he may build his own phone in response to suggestions that Twitter be removed from the Android and Apple app stores; and Europe will undoubtedly suffer from blackouts during the coming winter due to the ongoing energy crisis.
Chinese officials imposed more restrictions Wednesday to attempt to rein in a rapid rise in COVID-19 infections, adding to investors’ worries about the economy, just as new unrest at the world’s largest iPhone factory highlighted the financial & social cost of these curbs. Across China, cities including the capital Beijing & the financial capital Shanghai have closed malls & parks as well as imposing limits on the movement of people arriving from elsewhere, as infections near record highs last seen in April.
Diesel fuel powers trucks, buses, ships & trains. It drives machinery for construction, manufacturing & farming. It is also used for heating homes. And with the high price of natural gas, in some places it’s also being used to generate power. No fuel more essential to the global economy than diesel. Within the next few months, almost every region worldwide will face danger of a diesel shortage, at a time when supply crunches in nearly all the world’s energy markets have worsened inflation & stymied growth.
he European Union watered down its latest sanctions’ proposal for a price cap on Russia’s oil exports by delaying its full implementation, as well as softening some key shipping provisions. It proposed adding a 45-day transition to the introduction of the cap. The proposed grace period will apply to oil loaded before Dec. 5, the date oil sanctions are due to kick in & unloaded by Jan. 19, aligning the EU to a clause previously announced by the US & the UK.
It has been confirmed that thieves broke into the German Roman-Celtic Museum & stole 450 gold coins thought to be worth several million Euros. It has been suggested that the criminals were professionals who disrupted local phone & internet services. The coins are 2,000 years old & were uncovered in 1999, during an excavation of a large Celtic settlement in the modern-day region of Bavaria, Germany. It was the largest discovery of Celtic gold in the last century & a landmark find at 1 of the most important archaeological sites in central Europe.
In the Black Desert of Jordan, archaeologists have spent several years investigating a site called Shubayqa 1, since experts believed that the people who lived there 14,400 years ago, could well reveal more about one of humanity’s greatest innovations. So, searching the ruins of a fireplace, the researchers found the ashes of an ancient meal. And the meal’s contents may turn traditional ideas about the development of agriculture into radically rewriting human history.
New U.S. single home sales defied expectations & rose 7.5% to a seasonally adjusted annual rate of 632,000 in October; The Bank of Korea raised its benchmark interest rates by 25 basis points to 3.25% on Thursday, slowing the pace of rate hikes; Bitcoin reversed & moved higher on Tuesday, after briefly hitting a new 2-year low.
The post November 27: Thanksgiving cost explodes 20%, Elon Musk Building Phone, Blackouts Europe (Recap ep203) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the UK market lost its position as Europe’s most-valued, due to fears of a recession in the kingdom & surging sales at French luxury goods makers thought to be behind the shift. US markets ended slightly lower. In Cryptos news, here Come “Programmable Dollars”: New York Fed and 12 banking giants launch digital dollar test for a 12-week testing period. Monday morning Bitcoin fell to 2 year low. Users removed $3.7 billion in crypto from exchanges last week. [...]
The post November 20: Digital Dollar is here, Health Passports for Travel, Elon Musk Detecting “something MASSIVE” (Recap Ep202) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, despite the terrible cryptocurrency scenario brought on by the bankruptcy of the FTX exchange, we finally have some positive news on inflation as it came in under what was projected; Europe is still having trouble meeting its energy demands for the next winter. The cryptocurrency market plunged on Tuesday after the 2 biggest crypto exchanges in the world, Binance & FTX, came to a merger agreement to fix the latest reported “liquidity crunch”. Bitcoin plunged over -14% on Wednesday, [...]
The post November 13: Crypto Bloodshed, Marvelous Inflation News, Europe still screwed (Recap ep201) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the main news is the Fed raising interest rates again, pushing breaks more challenging economy in an effort to slow inflation. US markets ended negative for the week, and international markets ended mostly positively. Also, commodities and bitcoin finished positive this week. Labor Dept Fri US added +261K jobs in October & unemployment rate rose to +3.7%, with labor participation falling to 62.2%. The labor market shows other signs of slowing under the pressure of high prices, stubborn [...]
The post November 6: The Fed Is going to destroy everything (Recap Ep200) appeared first on Investing & Day Trading Education: Day Trading Academy.
The middle class will be most impacted by the interest rate increase and price increases, according to Marcello’s recap of th week. Elon Musk ultimately succeeded in acquiring Twitter, and Kanye West has been dropped by numerous firms due to some antisemitic comments. Elon Musk has finally taken ownership of Twitter with business efficiency, quickly firing top executives as he moves forward to achieve the agenda he has outlined for the influential social media platform. “The bird is freed,” he tweeted after [...]
The post October 30: Kanye West Canceled! Elon Musk buys Twitter, Middle Class being destroyed US (Recap ep199) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello talks about how October is on track to be the worst month to date for digital assets that have been stolen through hacking; Another significant communication cable has been cut in France, affecting thousands of users around the world; According to the IMF, the use of CBDC would let governments control what people spend money on. Liz Truss has become the shortest-serving U.K. Prime Minister & the 1st since Winston Churchill to serve 2 monarchs when she resigned [...]
The post October 23: Record HACK in crypto, Internet Cable Cut, IMF Admits control with CBDC (Recap ep198) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello talks about how Germany and Poland are allowing citizens to burn trash for heat; inflation persists. Pepsico is a prime example. Its prices have risen by 17% year on year; the real estate market is suffering as a result of central banks’ conservative policies. Russia launched cruise missiles on Ukrainian cities on Monday in what the U.S. called horrific strikes, killing civilians & knocking out infrastructure & utilities, with its most widespread air attacks since the start [...]
The post October 16: Europe Burns Trash for Energy, Inflation persists, Real Estate Market collapses (Recap ep197) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello talks about Elon Musk retaking his project of acquiring Twitter; the U.S. government has bought millions of dollars in antiradiation pills, Is it a coincidence?; and the bridge connecting Crimea and Russia has been blown up in an escalation of the conflict between Russia and Ukraine. U.S. President Biden’s stark warning Thursday evening that the world faces the highest prospect of nuclear war in 60 years was not based on any new intelligence about Russian President Putin’s intentions [...]
The post October 9: Elon Musk Buys Twitter Again! US Govt buys anti radiation pills, Ukraine blows up Russian Bridge (Recap ep196) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello tells us about how the IMF has some ideas about also pursuing a digital SDR mechanism; Forbes reports that Zuckerberg lost more than half his fortune and dropped from #3 on The Forbes 400 list of the U.S.’ wealthiest people to No. 11; and Hurricane Ian has caused significant damage to Florida, North and South Carolina’s infrastructure. Florida, North & South Carolina faced a massive clean-up on Saturday, from the destruction wrought by Cat 4 Hurricane Ian, [...]
The post October 2: New World Order crypto coin, Zuckerberg loses $76 Billion, Hurricane Ian causing Food Shortages? (Recap ep195) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello talks about the negative results of the markets overall; Tesla is “recalling” some vehicles to fix a bug on them; and Russia is said to be ready to use nuclear weapons if necessary. Electric vehicle manufacturer Tesla is recalling nearly 1.1M U.S. vehicles because the window automatic reversal system may not react correctly, after detecting an obstruction, thus increasing the risk of injury. The National Highway Traffic Safety Administration was told that Tesla will perform an over-the-air software [...]
The post September 25: Stock Market Massacre, Tesla Recalls Vehicles, Russia Threatens Nuclear War (Recap ep194) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, US & international stock markets remained negative, as investors brace for interest rates to keep rising rapidly. FedEx warns about the overall health of the U.S. economy with its dropped guidance. FedEx shares were down -21.65% at $160.52. Goldman Sachs warning further -27% drop S&P could be coming if inflation hawks are right. Inflation continues damaging US economy: Total US debt reaches 31 trillion; US inflation rose more exp in August +8.3% over the past year; US Grocery [...]
The post September 18: UK Banks limiting withdraws? FedEx collapses everything, Consumer Debt Explodes (Recap Ep193) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, US markets ended higher, as US household net worth fell over $6 trillion in Q2. 69 million households are canceling vacations, driving less & cutting grocery bills, with inflation hitting homes. Internationally markets mixed this week. Europe and Latin America mostly higher. Bitcoin higher this week: Up +7.40% from $19,850.90. Energy crisis continues around the world: European gas prices up by +35% on Monday; Japan currently imports about 94% of its energy supply; gas futures surging over +280% [...]
The post September 11: US networth Craters $6 trillion, Housing Markets Collapses, Banned ads for meat products (Recap Ep192) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the global markets continued mostly lower, but Russia went up +8.92%. Russia also cut off the gas to Germany. 40% of the Chinese economy (real estate) started to collapse, as China’s housing volume sales went down 30%. Inflation continues to rise. Not a great week for the economic world. Europe is having an exorbitant rise in energy prices, forcing Europe’s steelmakers to close plants. A cafe was charged nearly USD 10k for two months of usage. The UK [...]
The post September 4: Another Food Processing Plant mysteriously burn down, Cost of Energy explodes, No gas for Germany (Recap Ep191) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, US stocks plunged after comments from Fed Chairman Powell, who warned of rising interest rates as long as inflation remains elevated. International markets ended mostly lower this week, as the world’s economic powers struggle with various social, natural, and inflationary problems. According to National Energy Assistance Directors Association (NEADA) over 20M US households, about 1 in 6 American homes are currently behind on utility bills. NEADA said households owe a combined $16B in unpaid utility bills. Surging electricity [...]
The post August 28: Everything Collapses, Fed says “pain is coming”, Tesla stock split (Recap Ep190) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello reminds us of the quote he usually uses: “Look at what they do, not what they say” when he talks about investing guru Michael Burry, who has liquidated almost all his entire portfolio; another food processing plant has “mysteriously” burned; and a trader just made USD 100 million USD trading Bed Bath and Beyond shares before its collapse. Shares of Bed Bath and Beyond fell. Activist investor Ryan Cohen who co-founded Chewy & is chairman of GameStop, has [...]
The post August 21: URGENT: Michael Burry LIQUIDATES Portfolio, Another Food Processing Plant Burns, Trader $110 million Bed Bath & Beyond (Recap ep189) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello talks about how some stock markets are climbing; the UK is preparing to do planned blackouts to deal with the energy crisis that might come; New IRS special agents are being hired, and part of their job duties include “carry a firearm and use deadly force, if necessary”. A power outage in Toronto’s downtown core on Thursday, left the offices of Canada’s top businesses dark & forced the evacuation of 1 of the city’s biggest shopping malls & [...]
The post August 14: Stocks Rise, Planned Blackouts in UK, IRS to Use Deadly Force? (Recap ep188) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, all the US Major indexes finished the best month since 2020. International markets ended mostly higher. On Monday, the SEC said charged 11 people for their roles in creating & promoting fraudulent crypto pyramid/Ponzi scheme, that raised over +$300M from millions of retail investors globally, including the U.S. The crypto scheme was called Forsage and claimed to be a decentralized smart contract platform. Coinbase said on Thursday it’s partnering with BlackRock, the world’s largest financial asset manager, providing [...]
The post August 7: Rivers run dry in Europe, Solana Hacked $200 million, Tesla Stock Split (Recap Ep187) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello talk to us about how the recession is “official” since Q1 and Q2 of 2022 were negative; Tesla said they have sold 75% of all their crypto assets; Hanover, a city in Germany, is shutting off hot water to save energy. They are also shutting off lighting in spotlights on public monuments and turning off fountains. The U.S. is officially in a recession since GDP fell at a yearly pace of -0.9% in Q2, according to the Commerce [...]
The post July 31: Recession! Tesla sells Bitcoin, Germany turns off hot water (Recap ep186) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, US markets and mostly all international markets ended the week higher. Value (IPO) in US/EU fell 90% this year due to postponing/canceling plans to go public. Globally, the value IPOs has fallen 71%, from $283B to $81B. The number of listings has fallen from 1,237 to 596. China’s homebuyer mortgage boycott: people stop paying their unfinished construction projects. Chinese property is likely the largest asset class in the world. Things like this, generated chaos in China’s economy, with [...]
The post July 24: World Famine start in 2022? Banks collapse China, Record Heatwave Melts cars & airports (Recap Ep185) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello talks about a recent video from NYC Emergency Management that shares important steps for New Yorkers to follow in case a nuclear attack occurs; rent in New York skyrockets; and inflation keeps rising to new levels. Founders of bankrupt crypto hedge fund 3AC have gone missing, as investors try to recoup assets. Lawyers representing 3AC’s creditors say the location of Zhu Su& Kyle Davies are currently unknown. The court filing from Friday also alleges that the founders have [...]
The post July 17: New York Prepares Nuclear Bomb New York Rents Explodes, Inflation Erupts 9.1% (Recap ep184) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the most important news was the high US dollar price, Elon Musk walking away from the Twitter deal, and the inflation striking world economies. Us and international markets mainly ended positively for the week. The USD appears to be an ultimate safe haven for investors, with global recession risks incoming. The USD ended the week at a 20-year high. Euro is fast heading towards parity, even if it is holding above 20-year lows in Europe Thursday morning. Japanese [...]
The post July 10: Elon Musk pulls out on Twitter, Internet Blackout Canada, Dollar EXPLODES (Recap Ep183) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello talks about how suspicious it is that hundreds of food processing plants are closed due to unlikely situations, such as plane crashes; Mark Zuckerberg has said in an employee Q&A session that “this might be one of the worst downturns that we’ve seen in recent history.” The Atlanta Federal Reserve Bank’s U.S. GDP measure, which tracks economic data in real time, but adjusts continuously, sees Quarter 2 output contracting by a full -1%. Coupled with Quarter 1’s decline [...]
The post July 3: 100 Food Processing Plants Closed, Mark Zuckerberg Recession, “Worst in Recent History” (Recap ep182) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the US markets and a big part of the international markets recovered gains, with strong news that will affect the next few weeks, specifically more aggressive Fed interest hikes. Also, the Fed says servers will be online by 2023 for the new “Government Coin,” a digital version of the dollar: “Rapid changes are taking place in the global monetary system that may affect the international role of the dollar.” A US central bank digital currency is being examined [...]
The post June 26: Digital dolar 2023? Russia World War, Markets Recover (Recap Ep181) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about the widespread collapse of the markets around the globe; Inflation is reaching a new high; we might be facing the start of a recession. World stock markets had the biggest weekly decline since a pandemic-induced meltdown in March 2020, hit by growing worries about an economic recession after interest rate increases in the United States & the U.K. which was followed by a surprise move at Switzerland’s central bank, to quell an inflation surge. Euro-zone [...]
The post June 18: Everything Colapses, Inflation Increases, Recession Starts? (Recap ep180) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about how the German supermarket chain Rewe has warned customers can take only 1 “critical” product – such as pasta and flour; Consumer spending in the U.S. is the “worst in history,” which shows a clear sign of how inflation has affected the economy; Ethereum fell and is headed toward its lowest levels since May 12. Inflation in the U.S. surged from a year ago. Groceries up +11.9%, chicken up +17.4%, restaurants up +9%, fuel up [...]
The post June 12: Food Rationing Begins, Consumer “Worst In History”, Ethereum Collapse? (Recap ep179) appeared first on Investing & Day Trading Education: Day Trading Academy.
In the week’s recap, the US and global markets were mostly lower, except for the Asian markets. It’s increasing the likelihood of stagflation because the latest reports indicate the US labor market added jobs at a slower pace in May, but the inflation stays elevated. Elon Musk To Slash 10% Tesla Jobs, Has “Super Bad Feeling” About Economy. Everyone at Tesla is required to spend a minimum of 40 hours in the office per week: “If you don’t show up, we will [...]
The post June 5: Elon Musk says economic collapse coming, 2/3rds US in blackouts, Solana crashes (Recap Ep178) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about the collapse of the housing market in the US due to the increase in prices of newly built homes; Swift has now allowed international payments using central bank-issued cryptocurrencies; and Malaysia and India are banning the export of chicken and sugar, respectively. A poll conducted by Vistage Worldwide Inc, had 57% of small businesses in the U.S. predict the domestic economy will get worse over next year, as the nation deals w/high inflation, supply-chain & [...]
The post May 29: Housing Market Collapses, Government Test Cryptos, Food Export Restrictions Begin (Recap ep177) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about some data that shows that we are facing a drop in stocks very similar to the one the market suffered in the Great Depression; an unprecedented outbreak of Monkey Pox is triggering alerts worldwide. China’s President Xi (since 2013) will attempt an unprecedented 3rd term this fall, as he plans to extend his rule as China’s most powerful leader since Mao Zedong. Xi’s bold domestic & foreign policies remain controversial. His strict zero-COVID-19 strategy, his [...]
The post May 22: Worst Drop in Stocks since Great Depression, Mew Monkey Pox Pandemic (Recap ep176) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about the aftermath of the collapse in prices of the Crypto Luna; There is a Baby formula shortage in the U.S.; Switzerland is preparing in case of nuclear attacks. U.S. consumer sentiment slumped to its lowest level in nearly 11 years in early May it was reported this week, as worries about inflation persisted, but household spending remains underpinned by a strong labor market & massive savings, which may well keep the economy expanding for the [...]
The post May 15: Crypto Luna Massacre, Baby Formula Shortage, Switzerland prepared Nuclear War (Recap ep175) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello talks about how most markets around the globe fell; Gucci is accepting cryptocurrencies as payment method; Elon Musk gave a hint to the new world order at the MET gala. U.S. Federal Reserve raised interest rates by +0.50% in the biggest single-meeting increase in 20 years. Although the Fed Chair Powell said that additional half-point rate increases will be on the table at the next couple of meetings, he added that Fed officials aren’t actively considering a 75-basis-point [...]
The post May 8: Everything Collapses, Gucci Accept Crypto, Elon Musk mentions New World Order (Recap ep174) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello talks about a way of payment using an implant placed inside your hand; Bitcoin is now legal tender in the Central African Republic; More analysts are predicting a food shortage in 2023. The Central African Republic adopted Bitcoin as its official currency, thus following El Salvador’s as the 2nd country to do so. Bitcoin was made legal tender after lawmakers voted unanimously to pass the bill legalizing the world’s largest cryptocurrency & other cryptos, according to the chief [...]
The post May 1: Mark of the Beast has Arrived, Bitcoin Legalized in 2nd Country, Food Shortages Affected Extreme Flooding (Recap ep173) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, US & world markets in general ended lower this week, with the Russian/Ukrainian conflict showing no signs of ending soon and the World Bank lowered its global growth forecast for 2022 by nearly 1%, from +4.1% to +3.2%. The IMF also cut its global growth projections for 2022 & 2023, now projecting a +3.6% GDP rate. This represents a -0.8% & -0.2% drop saying the economic impact from Russia’s invasion of Ukraine will propagate far & wide. Corn [...]
The post April 24: Food plants mysteriously burn down, SpaceX internet, Elon Musk murders Bill Gates meme (Recap Ep172) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello talks about the faceoff between Tesla’s CEO, Elon Musk, and Twitter when he made a public offer to buy 100% of the social media firm; Warren Buffet was called a sociopathic grandpa from Omaha by Peter Thiel; Inflation and food prices are still going up. Elon Musk offers to buy 100% of Twitter for $54.20 a share (at a 54% premium), saying the social media company needs to be transformed privately, a little over a week after first [...]
The post April 17: Elon Musk War Against Twitter, Warren Buffet Sociopath #1 Bitcoin Enemy, Inflation & Food Prices Explode (recap ep171) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the global stock markets ended lower as the US inflation rate reaches 40 year high. EU building up strategic reserves for chemical, biological, and radio-nuclear emergencies. Union mobilized the medical reserve unit to procure potassium iodide tablets. Biden Food Shortages continues with Walgreens Rationing Baby Formula. Twitter shares soared +27.12% Monday to $49.97, with a market cap of $31.47B, after filings revealed that Tesla CEO Elon Musk had purchased a 9.2% stake in the social network. Musk’s 73,486,938 [...]
The post April 10: Elon Musk buys Twitter, Europe Prepares Nuclear War, New Cardano & Solana Futures (Recap Ep170) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about how the U.S. House of Representatives passed a bill to Federally Legalize Marijuana; Europe bans anonymous crypto wallets, like Trezor, or Metamask, to protect against money laundering by attempting to complete “Know Your Client” (KYC) checks; “world leaders” are talking about a coming new world order. Tesla announced it wants to split its stock so it can pay a stock dividend to shareholders, according to a Securities & Exchange Commission filing on Monday. The electric [...]
The post April 3: Marijuana Legalized! New World Order Confirmed, Cryptos Banned in Europe (Recap ep169) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about how President Biden confirmed that food shortages due to Ukraine’s conflict are going to be real; Warren Buffet invested in a Brazilian digital bank that invests in Crypto; Opensea daily volume dropped 72% to $70M from $250M. Business activity in Germany, Europe’s largest economy, dipped in March as output price inflation hit a new record high & the war in Ukraine impacted demand as well as supply chains. In France business activity accelerated unexpectedly to [...]
The post March 27: Biden Confirms Food Shortages, Warren Buffet Invests in Crypto, NFT Bubble Explodes (Recap ep168) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello talks about how the ongoing conflict between Russia and Ukraine is going to affect the surge of supplies to harvest and produce food; Saudi Arabia is now in talks with China to create yuan-priced oil contracts, which will discourage the use of US dollars, thus worsening inflation. The Labor Department stated Tuesday that wholesale inflation in the U.S. shot up +10% last month from a year earlier in another sign that inflationary pressures remain intense at all [...]
The post March 20: Food Shortages, China Encourages Collapse Of Dollar, Inflation To Get Worse (Recap ep167) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello talks about what Robert Kiyosaki warned on Twitter about Bitcoin and Biden’s administration(Bitcoin to be Seized?); Gasoline has been hit by inflation, reaching and surpassing $8 USD per gallon in California; Russia’s military activity against Ukraine is increasing. Bitcoin & other cryptocurrencies were trading higher on Wednesday after U.S. President Biden announced his highly-anticipated executive order on digital assets, which somewhat appeared to take a supportive stance toward the industry. Bitcoin was trading over +9% higher at $42,291.10. [...]
The post March 13: Govt Seizing Bitcoin? $8 Gasoline, Russia War Escalates (Recap Ep166) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the US markets closed lower this week, with oil prices surging to multiyear highs, as Russia’s invasion of Ukraine continued to roil markets. Euro & Asian markets ended far lower due to the Russian-Ukraine crisis. Latin American markets ended mostly positive. The food crisis begins in Europe and Asian countries. The American Petroleum Institute (API) estimated there was a surprise draw this week for crude oil of 6.1M barrels after a prediction of a build of 2.79M barrels. [...]
The post March 6: Food Crisis has arrived, Energy war, Russian Wealth Collapses (Recap Ep165) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the most important news is the Russian invasion of Ukrainian territory, which affected global markets throughout the week. The high volatility caused the markets to collapse after the invasion and recover again at the end of the week. Russia’s main equities index, the MOEX, collapsed -by 45% and was temporarily suspended to stop the fall. Was the worst 1-day drop on record. Financial firms in Europe & the U.S. suffered heavy share price falls on Thursday, as they [...]
The post February 27: War Ukraine/Russia, Food Shortages, Opensea NFT hack (Recap Ep164) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this recap, the world markets were mostly lower, with renewed anxiety over tensions between Russia & Ukraine, despite Russia’s claims to seek diplomatic lines to resolve the conflict. A German army convoy reached Lithuania on Thursday, bringing almost half of the planned reinforcements for the country’s German-led NATO battlegroup, amid fears of a Russian invasion of Ukraine. At the same time, German Air Force Eurofighters arrived at a military airbase in eastern Romania as part of a deployment to NATO’s eastern [...]
The post February 20: Seizure of Bitcoin in Canada/USA, metal protected meat, Bank blackouts (Recap Ep163) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the main topics were the concerns over a swift tightening of financial conditions increased around the world with multi-decade high inflation, also the fresh geopolitical anxiety between Russia & Ukraine. The U.S. trade deficit surged to $859.1B in 2021, a record high, increasing by +27%, as imports increased sharply amid the restocking of shelves by businesses to meet robust domestic demand. The widening deficit was driven by a $576.5B increase in imports last year, as Americans purchased more [...]
The post Recap February 13: SpaceX satellites destroyed by Sun, Tesla Superchargers Robbed, Food Prices EXPLODE (Recap Ep162) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about into a hack of the wormhole system that affects deeply the crypto community; A shortage of steaks at a restaurant ended in a brawl; the record amount of U.S. national debt are weighing the investment in US Dollars. U.S. national debt tops $30T for the 1st time. The record amount of debt is adding to concerns over the long-term financial & economic health of the country, which is grappling w/surging inflation & a higher interest [...]
The post Recap February 6: Huge Crypto Hack, Fights Over Food In USA, Collapse Of Dollar & USA From Debt (Recap ep161) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, there are two main topics: The prospect of a Russian attack on Ukraine rose & the more aggressive monetary policy by the US Fed. NATO said it was putting more forces on standby & reinforcing Eastern Europe with additional ships & fighter jets, in what Russia has denounced as Western hysteria, in response to its 100,000 buildups of troops on the Ukraine border to the north, east & south of the country. About 8,500 U.S. troops were put [...]
The post Recap January 30: Sounds of war, Blackouts in Turkey, Food export restrictions (Recap Ep160) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this recap, U.S. stock markets were lower this week as all 3 major U.S. indexes fell for a 3rd consecutive week, with investors anxious about the prospect of higher interest rates & their effect on valuations. The S&P 500 & Nasdaq wrap up their worst weeks since March 2020. China’s central bank cut interest rates again this week, with the 1-year loan prime rate by 10 basis points from 3.8% to 3.7%. The 5-year loan prime rate was reduced by 5 [...]
The post Recap January 23: Everything colapses, Government Coin, New bacteria resistant to antibiotics (Recap Ep159) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about the economic drawbacks that the USA has been dealing with; A conflict about water between two states of US might be the first sign of a water war; Buenos Aires and Berlin were left without electricity amid high temperatures and a rising winter. About 90K households in eastern part of Berlin, Germany for hours on Sunday evening were without heating & warm water; with outside temperatures of about 3 degrees Celsius (37.4F). A brief power [...]
The post Recap January 16: Most Catastrophic Year USA, Water War begins, Blackouts Start Worldwide (Recap ep158) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello talks about the fall of Bitcoin (and other cryptos) prices during the week; Tesla is crushing its delivery expectations; Food prices keep rising due to increasing input prices, covid related worker shortages and transportation costs. Bitcoin plunged -7.3% thursday overnight to $42,686.00 with losses exceeding -9% at one point. The price was slightly higher Thursday evening at $42,750.20. Ethereum, cardano, binance coin, solana & other cryptocurrencies were also deeply in the red, after minutes revealed that the U.S. [...]
The post Recap January 9: Bitcoin Carnage, Tesla Crushes Deliveries, Food Prices Exploding (Recap ep157) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this recap, US markets ended the year higher, in the last trading week of 2021, finishing a year of repeated records for the major indexes, helped by low-interest rates & the rollout of Covid-19 vaccines. Dow +18.73% in 2021; S&P 500 +26.89% in 2021; NASDAQ +21.39% in 2021. Global markets ended the week and the year was mostly higher too. The omicron variant still causes fears. China’s National Bureau of Statistics reported that the country’s industrial profits in November rose +9% [...]
The post Recap January 2: Food crisis, Energy crisis, 5G dangerous to health? (Recap Ep156) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, US markets ended higher as strong economic data was released, helping ease investors’ concerns about the risks posed by Covid-19 & inflation. Consumer confidence jumped more than expected in December. Global stocks lost $1.8T in market capitalization last week, but world stocks are still worth $118T, which is 140% of global GDP. U.S. Senator Joe Manchin, a more conservative Democrat who is key to President Biden’s hopes of passing an additional $1.75T domestic bill, due to the 50 [...]
The post Recap December 26: Blackouts starting Europe, IMF simulates global financial collapse, signal for next financial crisis? (Recap Ep155) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, global markets are mostly lower for the week, with a sharp fall in shares of tech companies, pushing major indexes lower, continuing a turbulent stretch for some of the biggest firms in the market. Asian markets were mixed. The European Central Bank further cut its bond purchases Thursday but vowed to continue its unprecedented monetary policy support for the Euro-zone economy into 2022. It left the benchmark refinancing rate unchanged at 0%, while the rate on its marginal [...]
The post Recap December 19: Omicron Lockdowns begin, Elon Musk sells record Tesla stock, Record Inflation (Recap Ep154) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, global markets rebound after 4 weeks in hopes that inflation data means the peak has been reached and that the omicron variant is less dangerous than expected. IMF and 10 countries simulate cyberattacks on global financial system. 330 SPAR stores shut down, switch to cash after the cyberattack. U.S. Labor Department on Friday: U.S. consumer prices surged +6.8% in the year leading into November & +0.8% last month alone, the highest rate since 1982, as the economy overwhelmed [...]
The post Recap December 12: Govt’s practice cyberattack (blackout?), cryptos hacked again, Rich sell everything (Recap Ep153) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, U.S. stocks were lower again this week with an ominous note, after a broad technology-sector selloff, sending the major U.S. stock indexes sharply lower & Treasury yields logging declines, not seen since some of the worst days of the pandemic last year. European shares fell on Friday, heading lower after a downturn in U.S. stocks on a tech slide & fears around the Omicron coronavirus variant hitting economic recovery. Chinese tech stocks in Hong Kong plunged after ride-hailing [...]
The post Recap December 5: Food costs explodes, crypto & stock collapse, SpaceX bankrupt? (Recap Ep152) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, US, European and worldwide overall stocks plummeted, amid investor fears over a new highly mutated variant of Covid-19 found in South Africa shaking up trader sentiment. The investor “fear index” surges by +40%, the most in 10 months. Outgoing German Chancellor Angela Merkel proposed new measures to tackle a 4th wave of the coronavirus pandemic, with a massive number of new Covid cases on Thursday, (up from 66,884 Wednesday). The death toll has now reached over 100K, with [...]
The post Recap November 28: New Variant Collapses Everything, Bitcoin city! (Recap Ep151) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello talks about the Indian government imposing a lockdown due to air pollution; is there a new Smallpox pandemic coming? Vials with the virus have been found; scientists discovered a new planet. The Austrian government on Friday announced that it will extend a lockdown of unvaccinated people to the entire nation starting Monday in a battle to get rising COVID-19 cases under control. It will run for 10 days & a maximum of 20 days. Austrian Chancellor Alexander Schallenberg [...]
The post Recap November 21: New Climate Lockdowns! Smallpox Outbreak? They Found Planet 9! (Recap ep150) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello tells us about how Elon Musk might be manipulating the markets; Are we walking into an economic crisis driven by inflation?; Due to the increase in the total amount of dollars in existence, holding it’s value is now a problem. Tesla CEO Elon Musk on Saturday asked his 62.5M followers on Twitter in a poll if he should sell 10% of his Tesla stock, already facing a $15B tax bill & to pay for an upcoming possible [...]
The post Recap November 14: Elon Musk Manipulating Markets Again? Inflation Economic Crisis, Dollar In Trouble (Recap ep149) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, China suggests their citizens to stock up food facing the coming winter; NASA is planning on launching a rocket against an asteroid as a “planetary defense” for practice; Elon Musk is again the richest man in the world. Squid Game cryptocurrency plunges to 0, after its creators who some now claim are actually just scammers, end up stealing $2.1 million from investors. SQUID had surged to as high as $2.861 before the creators sold their holdings for real cash. [...]
The post Recap November 7: China Says Stock Up Food, NASA “planetary DEFENSE”, Elon Musk Richer than Rich (Recap ep148) appeared first on Investing & Day Trading Education: Day Trading Academy.
These are some of the most outstanding news this week: As of Thursday, in the U.S. stock market, forecast-beating results have helped ease investors’ worries that supply-chain difficulties would dent profits, sending stocks higher throughout October. With nearly 50% of S&P 500 companies having posted results this reporting season, about 82% of those have managed to beat analysts’ expectations for earnings. According to official data released on Wednesday, profits at China’s industrial companies rose at a faster pace in September than in [...]
The post Recap October 31: Europe Tests Electric Blackout, Strong Solar Storm, Food Costs Surging 100-300% (Recap Ep147) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we find two main problems around the world: supply chain issues & rising inflation. Some governments warned their citizens of future blackouts due to the energy crisis that has become widespread in Europe and China. Such a crisis combined with rising food prices forecasts a complicated outlook for the coming years. U.S. markets ended the week positive, international markets ended mixed for the most part. The number of Americans filing new claims for unemployment benefits dipped to a [...]
The post Recap October 24: Germany & Austria about blackout, Poverty increasing in USA, Shiba Inu! (Recap Ep146) appeared first on Investing & Day Trading Education: Day Trading Academy.
Things to know before traveling during the Covid-19 Pandemic. The first thing to keep in mind and you should know is that things are going to change very fast especially now that people started to get vaccinated quite a lot, being the United States a little more extreme compared to the country Colombia which does not require any test to enter, but as time passes the requirements for travel may become a little stricter. About the things you should know before traveling [...]
The post Things to know before traveling during Covid-19 Pandemic appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we saw a general rise in global stocks, with the U.S. market ending positive and the European market having its best performance in 7 months on Friday. Earnings figures from banks boosted the markets a lot. Asia-Pacific stocks rose sharply as investors reacted to the release of China’s inflation data for September. Mainland Chinese stocks closed slightly lower. William Shatner, a Star Trek actor, traveled into space at the age of 90 on one of the flights made [...]
The post Recap October 17: “Coming Catastrophic Event”, USA approves Bitcoin ETF, Inflation getting worse (Recap Ep145) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello talks about the possible energy crisis to come due to the increase in energy production costs; moreover, the effect of this and the increase in transportation costs makes the possible crisis look more and more real. Communications infrastructure failures (as happened with WhatsApp this week) may repeat themselves and even last longer. Shares of Moderna, a U.S. pharmaceutical and biotech company, fell -8.94% on Wednesday to $302.42 as European Nordic countries suspend the use of Moderna’s Covid-19 [...]
The post Recap October 10: Energy Shortages, infrastructure Probs (instagram), Crisis Averted in USA (Recap Ep144) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello talks about an interview with Robert Kiyosaki in which he discusses the possible collapse of the US economy and the stock market, supporting the idea of seeking other safe havens away from stocks. The gasoline shortage crisis in the United Kingdom foreshadows the possible social conflicts that could be caused by a major crisis. Following the German parliamentary elections, the Social Democratic Party (SPD) has taken the majority of the government. On Thursday, the UK announced that [...]
The post Recap October 3: Robert Kiyosaki collapse October? Gas shortages London, Communism in Berlin (Recap Ep143) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello discusses the new ban imposed by China on Bitcoin transactions. The Financial Crisis that was on the verge of becoming a reality because of the Evergrande situation, seems to dissipate. Fearing the arrival of a leftist political movement to power in Germany, many millionaires started to move their fortunes out of the country. On Wednesday, it was reported that the main unit of China’s biggest property developer Evergrande had negotiated a deal with bondholders to settle interest [...]
The post Recap September 26: China Bans Bitcoin (again), Financial Crisis Averted, Socialism in Germany (Recap Ep142) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello talks about a financial Crisis to come due to several economic events that had occurred lately, including hyperinflation. A Hole in the Ozone is now a threat. European power prices have risen to multi-year highs on a variety of factors in recent weeks, coming from extremely strong commodity & carbon emission prices, to lower wind output. What’s worse, the record run in energy prices is not expected to end soon, instead analysts are warning, it is likely [...]
The post Recap September 19: Financial Crisis 2022? Hole in Ozone, Hyperinflation (Recap ep141) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, U.S. stocks were mixed and global equities retreated from record highs as investors balanced growing concerns about the slowing pace of the economic recovery and expectations that the Federal Reserve will delay tapering its bond purchases and traders’ fear the Covid-19 spread will weigh on economic growth. The European Central Bank announced Thursday a slowing in the pace of net asset purchases, under its pandemic emergency purchase program, amid surging inflation & strong economic growth. Euro-zone inflation hit [...]
The post Recap September 12: Bitcoin is money, SEC sues Coinbase, Inflation explodes (Recap Ep140) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello talks about the worst drought in 70 years and how that is affecting the market and Binance has been banned by a third country. U.S. added just 235K jobs in August & unemployment rate fell to 5.2% from 5.4% in July, even as the economy appeared to falter w/surging coronavirus cases. Economists expected employment growth to slow slightly in Aug to a gain of 750K jobs, amid falling consumer confidence & disruptive school closures. Declines in restaurant [...]
The post Recap September 5: Worst Drought in 70 Years, Binance BANNED 3x, Bitcoin Fraud (Recap ep139) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, U.S. stocks moved higher Friday & for the week, as the S&P 500 (1st time above 4,500) & Nasdaq hit new records, with Fed Chairman Powell stressing that the central bank shouldn’t overreact to the recent spike in inflation, meaning the easy money policies will continue for now. European stocks rose on Friday. The pan-European STOXX 600 index closed +0.4% higher, with mining stocks up +1.9%, while real estate stocks added +1.5%. Commodity-linked stocks were the best weekly [...]
The post Recap August 29: Food Shortages Accelerating, Chaos in Afghanistan, Inflation (Recap Ep138) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we see that U.S. and global stocks ended generally lower, although the S&P 500 reached a new all-time high for the week. This indicates that it may be time for the market upswing to begin to decline. The American dollar rose to a 9-month high vs the Euro, Australian & New Zealand currencies on Thursday, with U.S. Federal Reserve policymakers mostly now in agreement that a stimulus taper will start later this year. As U.S. President Biden scrambles [...]
The post Recap August 22: Magnetic Pole Danger, Warren Buffett Prepares for Crisis, Afghanistan (Recap Ep137) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we found that U.S. and global stocks, in general, ended the week higher and at several all-time highs, despite the expansion of the Delta variant of Covid-19 and global supply shortages. U.S. wholesale prices rose sharply in July for the 6th consecutive month & offered little evidence that a big wave of inflation is on the verge of cresting. The producer price index jumped +1% last month. Analysts had forecast just a +0.6% increase. The pace of wholesale [...]
The post Recap August 15: Mother of all crashes is coming, record highs, Lionel Messi cryptos (Recap Ep136) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello talks about a new bill that would make mining Bitcoin nearly impossible of it passes; Is the FEMA prepares for an emergency? Jets are landing on highways and a nationwide alert test is on its way. According to the CDC, the 7-day average of daily coronavirus cases in the U.S. reached 72,790 last Friday, surpassing the peak seen last summer, when the nation didn’t have a Covid-19 vaccine. On the other hand, the U.S. has already reached the [...]
The post Recap August 8: Bitcoin Mining Illegal USA? FEMA Preparing For Emergency (Recap ep135) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s Recap, Marcello talks about Tesla’s earning report, how inflation is truly above what the government is saying, and that there might be a food shortage coming due to various natural disasters. For U.S. restaurants, reopening from COVID lockdown has been difficult. They’ve struggled to hire staff, often being forced to offer double-digit pay hikes. Have been hit by cost increases & shortages on all kinds of items. A jump in seafood prices, part of the broader inflationary surge is only [...]
The post Recap August 1: Tesla Crushes Earnings, Inflation Explodes, Food Shortages Coming? (Recap ep134) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, Marcello talks about a study that shows that money does bring happiness, extreme weather hitting all over the globe, and some very volatile stocks. Jeff Bezos former CEO of Amazon, who remains the world’s richest person, worth an estimated $205B, went past the edge of space (an altitude of 107 kilometers or 66 miles) above the Earth on Tuesday, aboard the New Shepard rocket owned by his space company, Blue Origin, as part of its 1st human space [...]
The post Recap July 25: Report: Money Does Bring Happiness, Extreme Weather, Volatile Stocks (Recap Ep133) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap we talk about the North Pole moving at an alarming rate, new historic highs and riots happening in Cuba. The U.S. S&P 500 as of last Friday was trading at nearly 22 times its projected earnings over the next 12 months, way above a 5-year average of just a bit more than 18. The benchmark index has now rallied +16.73% to date in 2021. 1000’s of Cubans joined street protests from Havana to Santiago on Sunday in the biggest [...]
The post Recap July 18: North Pole Moving At Alarming Rate, Historic Highs, and Riots (Recap Ep132) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we find that U.S. stocks ended Thursday in the worst daily performance in nearly 3 weeks, as investors across the globe retreated from risky assets. Investors are increasingly concerned about U.S. labor shortages & supply chain bottlenecks, hurting overall economic growth. In the U.S. weekly jobless claims report Thursday indicated an overall slowdown in job growth. 1st-time applicants for unemployment benefits unexpectedly jumped to 373K in the week ending July 3. Investors expected 350K for initial claims. The [...]
The post Recap July 11: Exploding Cases, Exploding Prices, Exploding Disasters (Recap Ep131) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we find that U.S. stocks ended the week higher and at record highs after data indicated the U.S. economy is growing at a rapid clip & over the prospect of higher Q2 earnings, at the largest companies. Asian shares were mostly lower, as concerns over the spread of the Delta coronavirus variant have continued to dampen sentiment there. European stocks however moved higher in response to the new lower U.S. unemployment claims. In the U.S. the number of [...]
The post Recap July 4: Records upon Records, Corona 2.0 Variant, Binance Banned in UK (Recap Ep130) appeared first on Investing & Day Trading Education: Day Trading Academy.
Binance banned in the UK (largest crypto exchange in the world). It is news of several days ago. We learned that Binance, one of the largest companies in the UK that offer services with cryptocurrencies, has been banned to stop its operation in that nation and clarify in their media about this ban. The fact that Binance is banned in the UK (the largest crypto exchange in the world) is alarming and is a fact to analyze concerning the other situations that [...]
The post Binance BANNED! UK Prohibits Crypto Trading appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we see that global stocks finished mostly higher, with the NASDAQ achieving a record high and the S&P 500 reaching a record close, as investors reacted favorably to President Biden agreeing to a roughly $1T infrastructure plan, in hopes it will further stimulate the economy. Asian shares rose further on Friday, tracking gains from the U.S. on Thursday. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed +0.58%, & the Japanese Nikkei 225 jumped +0.7% in afternoon trading [...]
The post Recap June 27: Another Bitcoin Scam, Gavin Newsom Recall, Record Heat In Oregon (Recap Ep129) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we see how most of the world markets ended lower, including the US stock market. U.S. stock futures fell on Friday, as the Dow Jones fell over 300 points down near 1% & is on pace to post its worst week since January, down nearly 2%, as the Federal Reserve added 2 rate hikes to its 2023 forecast & increased its inflation projection for the year. Friday futures for the S&P 500 & Nasdaq were lower by nearly [...]
The post Recap June 20: Did the Stock Market start to crash? Elon saves Bitcoin (Recap Ep128) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap we talk about how El Salvador government says Bitcoin can now be used as a legal tender in the country and a higher-than-expected inflation rate in the U.S U.S inflation shows prices soaring by +5% in May vs a year ago, the biggest increase since the Great Recession of 2008 & 2009. While it may still be distorted by the pandemic, analysts differ on what this means for the U.S. economy. The CPI also showed a gain of +4.2% [...]
The post Recap June 13: Bitcoin Money El Salvador, Inflation Skyrockets (Recap ep127) appeared first on Investing & Day Trading Education: Day Trading Academy.
Today we’re going to be talking about Robinhood, the 12 billion dollar valuation company that keeps going down, keeps getting hacked, and keeps stealing from their customers legally. Unfortunately, Robinhood has revolutionized the industry in a bad way, thinking that everything is free, with no fees (when on the back end they’re literally allowing your orders to be manipulated), but people think for pennies and not in dollars, and now there was a recent situation where their accounts were getting hacked and [...]
The post The Great Robinhood Scam appeared first on Investing & Day Trading Education: Day Trading Academy.
Today’s video is about the crypto crash or the Bitcoin crash. Marcello is not particularly lean towards Cryptocurrency investments. He prefers stocks, mining stocks, silver, and other assets, but he acknowledges that cryptos, like any other investment, might lead to big gains. There has been some question lately. Why isn’t Bitcoin recovering? Why isn’t it going up as fast as before? and some other things that we should probably look for when talking about Bitcoin and Cryptos. Using the TradingView platform, Marcello [...]
The post Why are Bitcoin Prices Crashing? Crypto Crashes Also appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, U.S. benchmark indices were slightly higher, as investor concerns over the consequences of a strong economic recovery, marked by surging inflation, continued to trouble the overall market. Friday, May jobs report showed solid gains, boosting investor confidence in an economic comeback. Russia has been gradually reducing its dollar holdings since the imposition of Western sanctions following the annexation of Crimea in 2014. On Thursday, Russia says it will end all U.S. dollar assets in its National Wealth Fund [...]
The post Recap June 6: Elon Musk Breaks Bitcoin Again, Minimum Global Tax, Meme Stocks Explode (Recap Ep126) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, US and global markets generally closed higher as investors became increasingly convinced that the US Federal Reserve and other central banks will maintain their financial support, despite an outbreak of higher inflation in the short term. The U.S. Russell 2000 is a small-capitalization stock index & is closing in on the longest monthly win streak since 1995. It is now at 2,273.07. It has been up for the last consecutive 8 months & is nearing its all-time high [...]
The post Recap May 30: Reddit Gamestop 2.0, Crypto Crash, Gold Spikes (Recap Ep125) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, U.S. stocks rebounded on Thursday after U.S. jobless claims data indicated that the labor market continued to recover, helping major indices break a 3-day losing streak. Had been under pressure after concerns that rising inflation could prompt central bankers to pare back easy-money policies. Bitcoin, which shook markets earlier in the week with a 28% plunge, was stable for a 2nd day early Friday between the $40K to $41K range. The cryptocurrency market stabilized after a week of [...]
The post Recap May 23: Bitcoin/Dogecoin collapse, Inflation Fears (Recap Ep124) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, we talk about how Elon Musk is affecting the behavior of Dogecoin and other cryptos; There’s an undergoing investigation for Binance, and the armed conflict between Palestine and Israel is rising. Tesla CEO Musk said Wednesday that Tesla has suspended vehicle purchases using Bitcoin, out of concern over the rapid increasing use of fossil fuels for Bitcoin mining. The price of Bitcoin dropped about -5% in the 1st few minutes after the announcement. It has since dropped a total [...]
The post Recap May 15: Elon Musk Dogefather, Binance Investigation, War in Israel (Recap ep123) appeared first on Investing & Day Trading Education: Day Trading Academy.
Dogecoin, an altcoin outside of Bitcoin, has seen a huge rally in the last days. There was a cyberattack that forced to shut down the largest gasoline pipeline on the East Coast, and the US in general. Another crypto-currency mania is taking over the market as a parabolic rally for altcoins outside Bitcoin, is taking the value of all digital tokens past $2.3T. Dogecoin a crypto that started as a joke, was traded at $0.68 on Tuesday, +131% over past week, & [...]
The post Recap May 9: Dogecoin To The Moon – Attack On US Infrastructure (Recap ep122) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, we start analyzing how food prices rise above the official inflation rate and see how most corporates reported their earnings and showed great profits. Of 124 companies in the U.S. S&P 500 index that have reported Quarter 1 results to date, 85.5% have already topped analysts’ earnings estimates, with Refinitiv IBES data now predicting a +34.3% jump in profit growth. Both the S&P 500 & Dow Jones Industrial Average are to finish a 3rd consecutive monthly gain today, up [...]
The post Recap May 2: Food Prices Exploding – Corporate Profits are Huuuuge (Recap ep121) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, U.S. stocks took a dive on Thursday, following reports President Biden planned to nearly double the capital gains tax & planned to raise income taxes on the wealthy, proposals some analysts are saying will be hard to pass in Congress, but investors took profits, ahead of big tech’s earnings next week. For the week: Dow -0.46%; S&P 500 -0.18%, NASDAQ -0.25%. Bitcoin & other digital coins plunged Friday, wiping over $200B of the value in the cryptocurrency market [...]
The post Recap April 25: Kraken CEO Bitcoin Regulation, Biden Tax Hike, War with Russia (Recap Ep120) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the U.S. stocks ended far higher, with the Dow & S&P 500 reaching new record levels, as investors saw a much stronger than expected report on consumer spending & a sharp improvement in the number of new jobless claims. Dow +1.18%, S&P 500 +1.37%, NASDAQ +1.09%. Global stocks are hitting new record highs on Friday, after strong U.S. & Chinese economic data bolstered investor expectations of a solid global recovery from the coronavirus-induced slump, as the year progresses. [...]
The post Recap April 18: Dogecoin is crazy, US dollar drop, Turkey bans Bitcoin payments (Recap Ep119) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we found that almost all global markets ended higher, with an all-time high in the Dow and S&P 500, as U.S. Treasury yields fell after softer-than-anticipated labor market data, boosts tech & other growth stocks. New York City & state plan to increase taxes on the most affluent residents, despite top business leaders insisting the increases will backfire, by driving away top earners. Marginal income tax rates could be nearly 52% the highest in the nation, which would [...]
The post Recap April 11: Elon Musk Uses Chips in Monkeys, Oil drops, Record Highs (Recap Ep118) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, we see Tesla beating its delivery estimates and, are we witnessing the beginning of a new financial crisis like the one we had in 2008-2009? Tesla reported Q1 deliveries of 184K, a new record for the company. Analyst expectations were for deliveries of only 168K for the period. Tesla deliveries were almost entirely Model 3 & Model Y vehicles, selling just 2,020 Model S sedans & Model X SUVs. Model Y sales began in China starting in January. Model [...]
The post Recap April 4: Tesla Beats Estimates – Financial Crisis 2.0? (Recap ep117) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap, we talk about how mega-billionaire Ray Dalio warned that Bitcoin could be banned by the U.S. Government. Marcello also explains how the 10% richer are getting even wealthier by controlling 97% of the capital income. The year 2020 saw the world suffer due to the COVID-19 pandemic & the global economy faced its worst recession since World War II. Yet, nearly 2/3 of the world’s billionaire class amassed even greater fortunes, with an increase of wealth of some [...]
The post Recap March 28: Ray Dalio Says Bitcoin Illegal, Rich Get Richer Poor Get Poorer (Recap ep116) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello talks about a new Crypto ban in India that might affect Bitcoin’s recent performance; Kanye West is now the richest africanamerican in the U.S.; and Elon Musk’s The Boring Company is working on a tunnels project in Florida. Bitcoin has fallen over -10% from a record high of over $62K to just over $56K, after it was reported that India will now propose a law banning cryptocurrencies altogether. The total number of bitcoins in circulation over the weekend, [...]
The post Recap March 21: Bitcoin Made Illegal, Kanye West Billionaire, Elon Musk Tunnels Florida (Recap ep115) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we found that US stocks were mostly positive, with the Dow achieving a fifth consecutive record up, despite doubts generated by the high national debt in the US, driven by the covid-19 aid package of Biden. Global shares were flat on Friday as benchmark debt yields climbed, helping to curb the latest stimulus-driven rally. Market optimism had helped Asian shares rise with Japan’s Nikkei up +1.7% but were lower in Hong Kong & India. It faded out in [...]
The post Recap March 14: Tesla collapses, Record Highs, Storm blocks out Sun (Recap Ep114) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we find several relevant and decisive events for the world economy, such as the approval of the stimulus package for coronavirus in the US for a value of $1.9T dollars. During the week, US equities were steadily lower as investors sought less risky assets, yet they rallied strongly on Friday. Global stocks were mixed. Oil prices surge to the highest level in 14 months on Friday, as OPEC & its allies extend production cuts for another month, despite [...]
The post Recap March 7: Tesla crashes, Texas Opens, New Vaccine (Recap Ep113) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we’ll talk about the collapse of Tesla’s stocks, how the US Dollar is getting into trouble and how we are witnessing what seems like a second round of the Gamestop vs Robinhood situation. Shares of Tesla up +325% in the past 12 months, fell over -8% on Monday & by Tuesday had fallen some -7% more, to a weekly loss of over -15%, in worst market days since September, thus turning negative for the year, down a total [...]
The post Recap February 28: Tesla Collapses, US Dollar in Trouble, Gamestop vs Robinhood Rd 2 (Recap ep112) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we found that global equities generally fell for a third straight session on Thursday, as signs of rising inflation led by higher oil prices and the strongest copper prices in nearly a decade held back reserved traders after stocks hit a record earlier this week. US stocks were also affected by growing inflation concerns, supported by rising new claims for unemployment benefits and negative sales data from some companies. As the price of a Bitcoin passes $57,000, the [...]
The post Recap February 21: Bitcoin Explodes $57,000, Texas Freezes, Inflation is Coming (Recap Ep111) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello talks about the effects of Tesla buying a large amount of Bitcoin, how Elon Musk is getting even more bonuses from his performance as Tesla’s CEO, and how Germany’s green electricity generation is being affected by the unfavorable weather. Bitcoin +19.3% to $46,520.00 in the Tuesday U.S. pre-market on 02/09, as the cryptocurrency moves higher, buoyed by a $1.5B investment from Tesla, which has already brought the firm a +37% return on its investment. Rival cryptocurrency Ethereum [...]
The post Recap February 14: Tesla buys Bitcoin, Elon Musk Bonuses, Renewable Fail Germany (Recap ep110) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello talks about how Gamestop traders made a move on the silver market trying to replicate what they achieved with Gamestop’s stocks. There’s a possible ban coming for Bitcoin in India since governments are starting to focus on their own digital currencies. A translucent pyramid was re-discovered, is it Atlantis? The Hunt brothers had moved to corner the silver market in 1979 & 1980, by buying up 1/3 of the entire global supply outside reserves held by governments. Within [...]
The post Recap February 7: Gamestop War on Silver, Possible Bitcoin Ban, Atlantis Found (Recap ep109) appeared first on Investing & Day Trading Education: Day Trading Academy.
On today’s recap we talk about the big situation surrounding Robinhood & Gamestop. We also talk about how redditers are looking at silver as their new possible target. The GameStop phenomena up over 100% on Friday again at over $400.00 a share has investors & much of the internet, spellbound. Shares are up nearly 1,800% already for 2021 & over 9000% year on year. It’s largely because an army of traders in a Reddit group, have been buying the stock to hurt [...]
The post Recap January 31: WAR! Robinhood & Gamestop – Attacking Silver Market (Recap ep108) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the global shares fell from record highs on Friday as new data reminded investors of the obstacles facing the economic recovery, slowing the rally provided by the new proposed U.S. stimulus. U.S. stocks ended higher on Tuesday and Wednesday, as each of the 3 major indices reached record intraday & closing highs, on investor hopes of massive new federal stimulus coming soon. However, the U.S. stock ended lower on Friday, after hitting record levels, as shares of blue-chip [...]
The post Recap January 24: US Dollar collapsing – Hedge Funds investing in Bitcoin (Recap Ep107) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the U.S. stocks ended slightly higher Tuesday, as tech shares push the S&P & Nasdaq to new record highs with the start of earnings season & the signing of a partial China trade deal. However, U.S. stocks were lower Friday, as optimism over a $1.9T stimulus plan by President-elect Biden faded with investors looking at quarterly reports from major U.S. banks & initial jobless claims spiked to their highest level since August last week. Bitcoin +10.6% to $38,593.00 [...]
The post Recap January 17: Tesla better returns than Bitcoin, Stock Record Highs (Recap Ep106) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s Recap we talk about how Elon Musk is now the world’s richest person over Jeff Bezos, Stocks are at record highs and Bitcoin is having a wild climb in prices. Elon Musk edges past Amazon founder Jeff Bezos to become the world’s richest person. A +6% rise in Tesla shares early Thursday lifted the value of its CEO’s stock holdings & options by $10B, taking his net worth to about +$191B. A more modest rise of less than 2% [...]
The post Recap January 10: Elon Musk Richest In The World, Stocks Record Highs, Bitcoin Explodes (Recap ep105) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello talks about the plans of Tesla to arrive to india, the new record highs reached by Bitcoin and a new fuel made of Carbon Dioxide. Tesla will come to India early next year says the country’s transport minister Nitin Gadkari. The electric-car maker will start with sales and then possibly look at assembly & manufacturing there based on the response of consumers. India has been looking to reduce its oil dependence & cut down on pollution, but [...]
The post Recap January 3: Tesla in India, Bitcoin Record Highs, New Carbon Dioxide fuel (Recap ep104) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the US stock markets were mixed, as investor concerns over a new coronavirus strain in the U.K. and the U.S. President Trump called the $892B package a disgrace, demanding changes to the bipartisan legislation approved by Congress, specifically aiming for funding headed overseas, & the reduced direct payments to individuals (just $600) & families. Remains unclear if the items will be enough for him to veto the package. Trump wants $2K to individuals & $4K to couples. The [...]
The post Recap December 27: Bitcoin Surges, Tesla Dumps, Covid Mutant Strain (panic!) (Recap Ep103) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the US stock markets were higher every day, on increased investor hopes of imminent passing of a coronavirus stimulus bill. U.S. stocks surge is pushing equity valuations near the highest levels in years, as investors try to determine if the rally signals an economic rebound or an asset price bubble amidst a global pandemic. The S&P 500 +15.22% in 2020, trades at 22x forward earnings, vs. the historical average of 15.3x. The tech sector accounts for near 28% [...]
The post Recap December 20: Stocks & Bitcoin Record Highs, Tesla New Age (Recap Ep102) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the main US stock indices ended lower, after having reached all-time highs earlier in the week, as delays over a new fiscal stimulus package & surging coronavirus infection hurt investor sentiment, along with failure for a trade deal on Brexit. The European Central Bank is poised to deliver another round of monetary stimulus to help the Eurozone through the pandemic, adding €500B ($605B) more to the Pandemic Emergency Purchase Program & extending it by at least 6 months [...]
The post Recap December 13: Facebook Antitrust Lawsuit – Stocks at Record Highs (Recap Ep101) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this recap, the U.S stock futures end higher as weekly jobless claims declined, the upcoming vaccine approval process & investors looked to today’s monthly jobs report, as an indication that the economic recovery is ongoing. All 3 major indices ending at record highs, as the slowest U.S. jobs growth in 6 months raised investor expectations for a new fiscal stimulus bill to help further revive the economy. Global shares at record levels on Friday, set for a 5th straight week of [...]
The post Recap December 6: Tesla Profitable – Record highs in stocks & Bitcoin (Recap Ep100) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, Marcello talks about Elon Musk becoming the second richest man after Jeff Bezos and surpassing the fortune of Bill Gates. Also, the Trump administration has allowed the beginning of the transition of power, putting an end to weeks of political uncertainty. Elon Musk the billionaire entrepreneur has added $100.3B to his net worth in 2020, surpassing Microsoft’s Bill Gates to become the world’s 2nd-richest person at $127.9B, after Amazon’s Jeff Bezos. The 49-year-old Tesla co-founder has the electric vehicle [...]
The post Recap November 29: Elon Musk 2nd Richest Man, Trump transition of power (Recap ep099) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap Marcello talks about the great performance of Tesla’s stocks rallying in the S&P500 and also how Central Banks are growing interest into cryptos. U.S. based electric car company Tesla stock price surged +8.21% on Tuesday to $441.61 with additional gains early Wednesday. Tesla to become part of the U.S. index S&P 500 on December 21. Shares are up +428% in 2020, on a market cap of $419B. Means more cash on hand for the firm & +$15B more for [...]
The post Recap November 22: Tesla soars on S&P500 – Central Banks using crypto (Recap ep098) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we talk about the effects in the markets of the announcement of the Pfizer-BioNTech new covid vaccine and also the unofficial election results published by the press that makes Biden the new president of the United States. The total value of the stock markets globally just hit an all-time high of $95T as of Wednesday. Stocks’ latest run to new highs was triggered by surprise news that Pfizer & BioNTech coronavirus vaccine was more than 90% effective. However, [...]
The post Recap November 15: Covid Vaccine! Election Results? (Recap ep097) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we find one of the most contested presidential elections in US history, where the vote puts Biden as president, but Trump assures that he will execute certain measures to contest the election. US stocks closed much higher on Thursday, in a fourth consecutive day of gains for major indices, the best week since April. The shares of the main technology-related companies led the profits. However, the month of October ended negatively for the main US indices. In the [...]
The post Recap November 8: Election Chaos – Stocks Skyrocket (for now) (Recap Ep096) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, Marcello talks about what seems like a repetition of the beginning of the coronavirus crisis, with the stocks market falling at record numbers not seen since months ago. U.S. stocks to record one of their worst weeks of the year. All 3 indices are in the red & on track for their worst performance since March, when the market tumbled under the 1st wave of coronavirus infections & business lockdowns. Asian & European stocks as well as commodity [...]
The post Recap November 1: Crisis 2020 – Stocks Dive Again (Recap Ep095) appeared first on Investing & Day Trading Education: Day Trading Academy.
Today, Marcello talks about that old saying that 90% of traders lose money and tries to find a study that backs up that asseveration but finds none. Due to the lockdowns and all the aftermath caused by the coronavirus, Trading has become more and more popular because of its online and independent nature. That saying is something Marcello and most of the people in the industry used to say, but he came to question this when he received an article saying otherwise. [...]
The post Do 90% of traders lose money? FALSE appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we see that US stocks were heavily influenced by updates on the progress of the US government’s stimulus plans. Republicans now offer $ 1.9 trillion versus Democrats at $ 2.2 trillion. House Speaker Nancy Pelosi said a deal on the new aid was “almost ready.” PayPal joins the cryptocurrency market Wednesday, thus allowing customers to buy, sell & hold Bitcoin & other virtual coins. PayPal customers can also use cryptocurrencies to shop at the 26M merchants on its [...]
The post Recap October 25: Paypal Now Allows Bitcoin – Oil slides (Recap Ep094) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s video Marcello talk to us about how we can make a fortune investing in Medellin, Colombia. Obviously, the coronavirus has caused some sort of curveball in all our plans, but that’s not necessarily a reason to not look for opportunities. When we talk about real state, property value is always fluctuating. Prices go up in some places while the fo down in others. And since the economy is reopening worldwide, the housing market is also going to start gaining strength [...]
The post Making a fortune investing in Medellin appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, we talk about the overall rapid reduction of unemployment in the U.S. and a possible second quarantine due to a new wave of coronavirus infections. U.S. unemployment still has a long way to go to return to the under 4% rate before the pandemic & resulting recession, but the overall rapid reduction to 7.9% last month is an average, uneven growth of jobs, is the rule across the country. The jobless rate has fallen to just 6.6%, in the [...]
The post Recap October 18: Unemployment Down – 2nd Quarantine (Recap ep093) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we talk about the plans of central banks of creating their cryptocurrency. Some anarchists had planned on kidnapping the governor of Michigan. Stocks rose on hopes of more stimulus. The Bank for International Settlements in collaboration with a group of 7 major central banks, published its 1st joint report into central bank digital currencies on Oct. 9. The Bank of Japan, one of the members, released a document outlining its own specific approach from a Japan-centric perspective to [...]
The post Recap October 11: The End of Bitcoin? Michigan Govt Kidnapping, Stocks Rise (Recap ep092) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap we talk about forecasts on lay offs coming anytime soon, President Trump and Melania testing positive for COVID, and the Irish Supreme Court ruling that Subway’s bread does not qualify as bread. American Airlines & United Airlines say they will begin to furlough a total 32K employees, after lawmakers failed to agree on a broad pandemic relief package, that includes more federal aid for airlines. American Airlines CEO says a deal with $25B for airlines would allow the [...]
The post Recap October 4: Lay offs are coming, Trump gets COVID, Subway Has Sugar Bread (Recap Ep091) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this recap, the US stocks had several declines and slight recoveries over the week, falling in tandem with oil & gold prices & worries among investors of further turbulence ahead due to concerns over new coronavirus lock-downs & the inability of Congress to pass more fiscal stimulus, thus hurting the domestic economy. Global shares fall with USD hitting a 2-month high, on investor concerns over another economic hit from the coronavirus pandemic, ahead of key U.S. jobless data. The infection rate [...]
The post Recap September 27: New Quarantine, Stocks Dumped, Tesla makes promises (Recap Ep090) appeared first on Investing & Day Trading Education: Day Trading Academy.
Today we are talking about why the market crash and if the bubble has finally popped. 2020 has been a pretty crazy year; The pandemic, the hurricanes, and now the elections of the U.S. next president. A lot of Marcello’s followers have been asking about what happened to the market and why it is crashing, so that’s the reason for this video. The recent passing of supreme court justice Ruth Bader Ginsburg has spiced up things around the elections and created an [...]
The post Crisis 2020: Did the stock market bubble just pop? appeared first on Investing & Day Trading Education: Day Trading Academy.
Overall, we started off with a good week, and we end off having the third consecutive week of declines for the US stock market, as the sell-off in Big Tech continued, dragging down the overall market. Mixed messaging around a coronavirus vaccine, & concerns over further fiscal stimulus, also weighed on stocks. Global stocks are mixed with investors concerned over a resurgence in coronavirus cases around the world & lingering disappointment that central banks merely affirmed their monetary support this week, without [...]
The post Recap September 20: Presidential Election Chaos, Ruth Bader Ginsburg, Tech stocks fall (Recap Ep089) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week Tesla stock collapsed along with the market and then recovered back up again. Cryptocurrencies are observed closely by the European Commision. The EC wants to disallow their operation in the European Union until legal, regulatory & oversight challenges have been addressed. Electric automaker Nikola Corp jumped 40% on Tuesday to $50.00 a share, after General Motors Co said it was acquiring an 11% stake in the company. As part of a deal that will give GM a $2B investment it [...]
The post Recap September 13: Tesla stock collapses & recovers – Cryptos illegal in Europe (Recap Ep088) appeared first on Investing & Day Trading Education: Day Trading Academy.
We were getting a lot of questions in regards to the market crash in the last three or four days, so we wanted to do a quick video explaining why this happened. We have a situation now, since the big crash that we had in March (when oil went negative because of shutdowns and the coronavirus pandemic), where governments decided to “help the economy out” not only by just giving free money, but also making sure that economies “don’t fail” by injecting [...]
The post Why did the stock market crash? appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap talk about the real pandemic numbers and see how the economy is recovering but stocks dropped during these days. Factories in Asia & Europe continue to show an expansion in manufacturing activity, as the global economy gradually emerges from a downturn triggered by the pandemic, thanks in part to massive government & central bank fiscal & monetary stimulus programs. Australia became the latest country to officially enter a recession for the first time since 1991, the worst performance [...]
The post Recap September 6: Stocks drop, economy recovers, real pandemic numbers (Recap Ep087) appeared first on Investing & Day Trading Education: Day Trading Academy.
In the recap of this week, we found that U.S. stocks end higher, Dow wipes out its 2020 losses at open temporarily. U.S. stock index the S&P 500 futures rose for a 7th consecutive day on Friday, with the prospect of exceptionally low-interest rates for a prolonged period of time, thus spurring investors with their focus shifting to monthly personal consumption data, for signs of an economic rebound. The U.S. Fed is moving towards policy in support of inflation to better help [...]
The post Recap August 30: Elon Musk Next Richest Man – Stocks At Record Highs (Recap Ep086) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap we see how the dollar is collapsing, Tesla stocks reached a new all-time high and Apple hits $2 trillion on market capitalization. Shares of Tesla jumped 11.20% on Monday, pushing the stock to a new all-time high of $1,835.64 with market capitalization passing $300B. The stock has already gained 31% in the last week after the electric vehicle firm announced a 5-for-1 stock split. Shares are up +2.25% in the Tuesday pre-market. Apple became the 1st U.S.-listed company with [...]
The post Recap August 23: Dollar collapses, Tesla Stock Explodes, Apple 2 Trillion (Recap Ep085) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we found that the American dollar is headed for an 8th consecutive week of losses, its longest weekly losing streak since June 2010. It is due to the rapid run-up in government debt, exceptionally low interest rates, the ongoing rise in coronavirus cases, with the resulting economic fallout. The Federal Reserve Bank of Boston is collaborating with researchers at MIT in a multi-year effort to build & test a hypothetical digital currency, oriented to central bank uses thus [...]
The post Recap August 16: Colapse of Dollar most on record – New Govt Bitcoin (Recap Ep084) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we found the rise in the global markets, with the US Nasdaq adding the 7th record close, as investors further embraced corporate earnings that surprised to the upside. Investors worry the U.S. government’s response to the pandemic is taking the dollar down, in its worst monthly performance in a decade in July. The recent stimulus is accelerating what has so far been a slow erosion in USD status as the world’s dominant reserve currency. Rock-bottom U.S. interest rates [...]
The post Recap August 9: Collapse of dollar in July – Record Highs Nasdaq (Recap Ep083) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we talk about some disastrous economic numbers and how an international experimental nuclear fusion reactor is being built in France to “harness the power of the Sun” Work has begun to assemble giant components to build an international experimental nuclear fusion reactor in France, that is expected to start up in 2035 & deliver energy in a process inspired by the sun. Will generate power by combining atoms at a temperature of 150 million degrees Celsius (270,000,032 Fahrenheit) [...]
The post Recap August 2: Disastrous Economic Numbers – Harnessing Power of the Sun (Recap Ep082) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap we talk about how the government says that UFOs are real and how Tesla is profitable and eligible for the S&P 500. Tesla, after 4 consecutive profitable quarters, is eligible to join the S&P 500 index in a move that may turbocharge the index of America’s top companies. The electric car firm reported $104 million in profit for the last quarter, even though its Fremont manufacturing plant was shut for nearly half of that period. Shares moved +4% [...]
The post Recap July 26: Tesla is profitable – Govt says UFOs exist (Recap Ep081) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap, we talk about how Elon Musk becomes the seventh richest person in the world and the effects on the economy of a second wave of the pandemic. Tesla CEO Elon Musk just passed Warren Buffett to become the world’s 7th wealthiest person. Musk’s fortune rose to over $6 billion Friday after Tesla’s stock surged 10.8% to a record $1,544 per share. Its market value now stands at $286.5 billion. Musk still owns 20.8% of Tesla’s stock, making his shares [...]
The post Recap July 19: Tesla’s Elon Musk Richer – Second Wave (Recap Ep080) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we found that the U.S. markets had a mixed week, with gains made from fewer unemployment claims and a positive test for an anti-viral drug from Gilead Sciences overshadowed by a large increase in COVID-19 infection numbers. On Friday, the markets ended up positive. Tesla CEO Elon Musk just passed Warren Buffett to become the world’s 7th wealthiest person. Its fortune rose over $6 billion on Friday after Tesla’s stock surged 10.8% to a record of $1,544 per [...]
The post Recap July 12: Elon Musk richer than Warren Buffett – Buffett starts to buy again (Recap Ep079) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, the U.S. Federal Reserve has purchased the bonds of 794 different companies, including firms like Apple, Verizon, AT&T, & the U.S. divisions of Toyota, Volkswagen, & Daimler making up 10% of the amount spent. The plan is to buy $250B of debt already issued, and $500B in newly issued bonds. Fed officials say the goal of the buying is to maintain liquidity in the market for corporate debt, so that issuers are able to access capital, despite the [...]
The post Recap July 5: Tesla Makes History – Fed buys Apple, Microsoft (Recap Ep078) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week’s recap found two key factors: the markets were affected by fears of a second outbreak of coronavirus in the US and major economic powers, and global monetary stimulus to boost the economy. Global stocks move higher in uneven trading on Thursday, as investors calculated the potential economic impact of a surge in U.S. coronavirus cases versus the loosening restrictions on the U.S. banking sector, while safer assets, including U.S. Treasuries & the dollar, oil & precious metals edged higher. The [...]
The post Recap June 28: Tesla Horrible Quality – Worst Economic Crisis since Great Depression (Recap Ep077) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week, the world stocks were moved by the fears of a second coronavirus outbreak and the tensions between the US and China. On the other hand, global markets rally Tuesday and Wednesday after the U.S. Federal Reserve launched measures meant to ease the strain on markets & help businesses hurt by the coronavirus pandemic with the Lending Program. U.S. President Trump, facing widespread criticism that his policies & inflammatory rhetoric have aggravated a racial divide in the United States, signed an [...]
The post Recap June 21: Tesla Asks Austin for Tax Break – Apple at Record Highs (Recap Ep076) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap we talk about Elon Musk saying it was time to go all out and bring the Tesla Semi to volume production making the stocks jump. Amazon, Apple, Microsoft & Amazon also reached new record highs. Tesla shares topped $1,000 for the 1st time ever on Wednesday & early Thursday with a market capitalization of over $190B, before falling back. CEO Elon Musk wrote to employees that it was “time to go all out” & put its Semi truck [...]
The post Recap June 14: Tesla ALL IN at $1,000 – Amazon/Apple record Highs (Recap Ep075) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap we talk about what looks to be like a recover of the markets with the NASDAQ reaching new record highs and 19 hours after SpaceX’s Falcon 9 rocket lifted off Saturday from Florida, the Crew Dragon capsule docked with the International Space Station. Hong Kong has its 1st $1B+ listing in over 6 months as Chinese internet company NetEase launched a 2nd listing that could raise as much as $2.8B. Hasn’t had a hiatus of billion-dollar IPO’s last [...]
The post Recap June 7: SpaceX makes history – Looks like a recover! (Recap Ep074) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap we will mention two huge events that shocked the world. U.S. will reclaim sovereignty as a space-faring nation as astronauts Douglas Hurley & Robert Behnken, were set to leave earth from American soil, for the 1st time since 2011. SpaceX’s Crew Dragon has beaten Boeing’s Starliner to the finish line, in a chance to become the 1st private company to fly humans into orbit. The death of George Floyd, an African American man that was killed in Detroit, [...]
The post Recap May 31: SpaceX launches into space – Civil War in USA (Recap Ep073) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, we found that the US stock markets were full of ups and downs, as at the beginning of the week the markets rose driven by a promising test of the coronavirus vaccine, but fell again midweek due to some reports skeptical of this vaccine, which added to the new wave of coronavirus outbreaks. Oil has a 4th weekly gain in price totaling 13%, despite a 2% dip on Friday. Investors are weighing improving supply fundamentals versus doubts surrounding [...]
The post Recap May 24: Contagion in Amazon – Earth’s magnetic field failing (Recap Ep072) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week, the main topic was the fears about the 2nd wave of coronavirus infections, which gripped financial markets, especially after a sobering warning from the World Health Organization that the coronavirus may never go away. Investors facing steep losses, due to the pandemic-driven shakeout in assets over the past few months, besides, they need to contend with renewed U.S.- China trade tensions. A rapid economic recovery seems ever more elusive with rising domestic unemployment. Bitcoin -0.9% to $9619.00 in the [...]
The post Recap May 16: Crisis 2020: Stocks fall on 2nd wave fears (Recap Ep071) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, one of the most important news was the loss of more than $50 billion by Berkshire-Hathaway in the 1st quarter, its worst quarter in a decade, with its CEO Warren Buffett admitting the $6.5B recently divested investment in the airlines, was a mistake. However, the firm still retains $137B of cash on hand, with a market capitalization of some $444B. World shares rose on Thursday after China’s exports came in far stronger than expected, suggesting an economic recovery [...]
The post Recap May 9: Warren Buffett loses $50 billion – Record unemployment (Recap Ep070) appeared first on Investing & Day Trading Education: Day Trading Academy.
In the stock market we had a very spectacular month of April: the best month for the Dow since 2002, which is the main stock exchange in the US; the S&P 500, which is the stock exchange we mainly trade, had its best results since 1974; the NASDAQ, the technology one in the US, had its best month since 1987; and now, on Saturday May 2nd, Warren Buffett, “the Oracle of Omaha”, reported during an interview that he sold all his shares [...]
The post Crisis 2020 Stock Market Crash Coming? Monday May 4th it Will appeared first on Investing & Day Trading Education: Day Trading Academy.
During this week we saw how economies started opening again after the coronavirus driven shutdown, World stocks are having their best month on record Thursday, with encouraging early results from a coronavirus treatment trial using the drug Remdesivir & expectations of more European Central Bank (ECB) stimulus later in the day, helping to ease the economic & financial pain of February, March & early April. U.S. stock markets are on course for the best monthly performance in years, the Dow at the [...]
The post Recap May 3: Tesla stock crashes by Elon Musk Tweet – Economies start opening (Recap Ep069) appeared first on Investing & Day Trading Education: Day Trading Academy.
The economic crisis of 2020 is still going. The global economy is expected to shrink by -3.0% during 2020, in a stunning coronavirus-driven collapse of activity, that will mark the steepest downturn since the Great Depression of the 1930’s. The IMF predicts a partial rebound in 2021, with the world economy growing at a +5.8% rate. Oil prices were crashing Tuesday after a full collapse Monday that saw U.S. crude futures plunge below zero, for the 1st time in history. The May [...]
The post Recap April 26: Economic Crisis 2020 continues – will continue until Dec (Recap Ep068) appeared first on Investing & Day Trading Education: Day Trading Academy.
During this week, the U.S. Commerce Department said that retail sales fell 8.7% last month, more than expected, & another indication that the coronavirus is taking a huge toll on the U.S. economy as consumers resigned in spending on goods ranging from cars & clothing to meals at restaurants. It’s the biggest monthly decline since the Commerce Department started keeping records in 1992 & comes after reports that nearly 17M Americans have filed for 1st-time unemployment claims in recent weeks. Global markets [...]
The post Recap April 19: Economic Crisis is just starting – Stocks Explode (Recap Ep067) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week, the US stock remains mostly higher due to OPEC decisions and as evidence mounts that coronavirus death & infection rates may be leveling off. OPEC & other major energy powers on Thursday ended with a tentative deal to reduce output by 10M BPD in May & June, the deepest cut ever agreed by the world’s oil producers. However, prices may not increase much in the near term, due to the collapse in overall demand. The U.S. threat of tariffs [...]
The post Recap April 12: Tesla Furloughs 50% of Workforce – Epic Week for Stocks (Recap Ep066) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s video Marcello talks about dividend investing. One topic he hasn’t talked much about before since he had had to adapt his way of trading to his way of living. Traveling constantly and not being able to have a good internet connection or any internet connection at all made Marcello develop his own style of trading. Marcello has been swing trading for the last years in order to have all the trading centers running. Remember that Marcello is not a trading [...]
The post Amazing Dividend Stocks Right Now – Dividend Investing 2020 appeared first on Investing & Day Trading Education: Day Trading Academy.
Today we’re gonna be talking about real estate investing vs trading. It’s important to be able to talk about this because what happens is everybody talks about the money that you can make when things are great but nobody talks about what happens when things are not great. That’s one of the most important reasons why we choose trading. Both, real estate and trading, are industries where you can make a lot of money, but if you don’t do the right thing, [...]
The post Real Estate Investing vs Investing in the Stock Market appeared first on Investing & Day Trading Education: Day Trading Academy.
In the recap of this week, we found that U.S. stocks end higher, as investors calculate the U.S. government $2.2 trillion rescue package will help businesses keep employees. Also as it seems the major global oil producers will agree to reduce output in the coming months. This agreement is important because oversupply is further undoing the oil market’s structure, & there may be more trouble to come as the world quickly runs out of storage capacity. The collapse in demand has shut [...]
The post Recap April 5: Coronavirus Crisis will get worse – Recap (Recap Ep065) appeared first on Investing & Day Trading Education: Day Trading Academy.
The recap of this week was marked by the coronavirus and its consequences in the global economy. After one entire week of work, The US House on Friday passed the expected historic $2T coronavirus relief package. Last week there were 238,000 claims for unemployment in the US, this week the number spiked to 3.28 million when the estimate was for around 1 million. Indicates there are far more people losing their jobs than originally thought. U.S. stocks end lower Friday, after exiting [...]
The post Recap March 29: Coronavirus Crisis – Welcome to the Apocalypse (Recap Ep064) appeared first on Investing & Day Trading Education: Day Trading Academy.
Today we are going to talk about why trading is still the best job in the world. Just look at the times that we’re in right now, a time where you had a job but you couldn’t get paid for it, a time where your business is not giving you money, a time where you’re stuck in your house because of a pandemic, a time where you have lost your freedom and your lifestyle. It is precisely at times like this that [...]
The post Best Job in the world is still trading appeared first on Investing & Day Trading Education: Day Trading Academy.
This week we experienced the worst stock crash in history, U.S. stock index futures plunged lower early Monday morning, in the face of the rapidly spreading corona-virus & the Federal Reserve Bank announcement of an interest rate cut down to “0”, both events panicking some investors. Dow plunged over 1,000 points. Bitcoin was at $5,868.00 last Friday evening, then moves lower again early Monday morning to 4,894.97, on 03/16/2020, for a weekend market loss of -19.87%. The gains for the year are [...]
The post Recap March 22: Coronavirus Worldwide Depression? – Worst Stock Crash in History (Recap Ep063) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, markets are living the most chaotic week in history. U.S. stocks plunged on Wednesday, with the Dow confirming a bear market for the 1st time since the financial crisis, after the World Health Organization called the corona-virus outbreak a pandemic. The S&P 500 is also approaching a 20% loss, as the domestic & global economy takes a hit. European stocks had their worst day in history Thursday with Germany’s DAX & France’s CAC 40 both plunged over 12%. [...]
The post Recap March 15: Tesla Stock Down 40% – Most Chaotic week in history (Recap Ep062) appeared first on Investing & Day Trading Education: Day Trading Academy.
In the recap of this week, coronavirus is again the main topic. U.S. stocks rebounding somewhat on Monday morning, reducing losses from last week’s coronavirus-linked hit. Markets coming off their worst week since the financial crisis. The Dow recorded its worst 1-day point drop in history. As the coronavirus pandemic continues to spread globally & the death toll mounts, it is now being stated that the majority of corona-virus deaths being reported are outside of China, for 1st time since the outbreak [...]
The post Recap March 8: Stock Volatility Unprecedented – Coronavirus Fears (Recap Ep061) appeared first on Investing & Day Trading Education: Day Trading Academy.
Today I wanted to share a presentation that we did in the seminar that we had a few weeks ago. This was the saturday before the gigantic crash in the markets and I wanted to share this with you because I think in this industry most people only share all the winners and all the money that they supposedly make, and this is actually a situation where I have two very big loses, it’s $47,555 dollars in losses. I wanted to share [...]
The post How to handle a $47,555 loss – Trading the Silver miners appeared first on Investing & Day Trading Education: Day Trading Academy.
In the recap of this week, the Coronavirus is the main topic. The pandemic fears have wiped out $3.4 trillion from the U.S. S&P 500, in just 6 trading days going from record highs to a correction as of yesterday. And more losses are coming today. U.S. stocks are having their worst week since the 2008 financial crisis. That’s the fastest such movement in over 70 years. U.S. Treasury Yields hitting new record lows Friday as investors look for safety. Panic grows [...]
The post Recap March 1: Stock Market Bloodbath – Tesla Stock Colapses 30% (Recap Ep060) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week, the U.S. stock indices heading lower on Friday, as a spike in new coronavirus cases in China & elsewhere around the globe, sent many investors running for safer assets such as gold, silver & government bonds. Several U.S. firms are warning investors that Q1 sales will take a hit from the ongoing coronavirus crisis. Apple is 1 example. At a market valuation of $1.4T, Apple put out a surprise investor update, stating it no longer expects to meet the revenue [...]
The post Recap February 22: Stocks Tank on Revenue Guidance – Coronavirus Gets Worse (Recap Ep059) appeared first on Investing & Day Trading Education: Day Trading Academy.
The coronavirus is a very relevant subject that is affecting multiple things day to day. In this video, Marcello shares his point of view in regards to the coronavirus and tells us its possible beginning, likely in a laboratory in Wuhan. He thinks the virus started due to some tests being made on bats, they likely escaped the laboratory and given that all sorts of animals are eaten in China, maybe someone ate the bats infected with the virus and this is [...]
The post Coronavirus Pandemic: Next Few Weeks Critical appeared first on Investing & Day Trading Education: Day Trading Academy.
In the recap of this week, we found the stock markets globally edged higher on Friday, as investors gamble that damage to the world economy from China’s coronavirus outbreak, will not be long term as earlier feared, despite the rather sharp rise in the number of coronavirus deaths & infections as reported by China. Some see the possibility of even more Chinese central bank stimulus measures, in response to any further slowdown likely. International Energy Agency slashes its forecast for global oil [...]
The post Recap February 16: Stocks at Record Highs – Coronavirus Lingers (Recap Ep058) appeared first on Investing & Day Trading Education: Day Trading Academy.
Now at SpeedUp Trader, we have forex funding accounts. Although at Day Trading Academy we have always recommended not to start in the world of trading with forex due to the high level of manipulation that occurs there (with an average of 76% of losing accounts), we want to allow those people who believe they can make money in it. We’ll have leveraged accounts between 100,000 and 500,000. As requirements for those who decide to enter Forex trading is to have a [...]
The post Making money with Forex: Introducing Forex funding appeared first on Investing & Day Trading Education: Day Trading Academy.
In the recap of this week, we found the U.S. benchmark S&P 500 wrapping up its best week in 8 months, as investors decide to be satisfied with Chinese government efforts to contain the spread of coronavirus & limit the economic damage from the outbreak that has now killed over 600 people. Over 300 S&P 500 companies have now reported Quarter 4 results so far, of which about 70% have topped earnings estimates. Earnings are expected to have risen 2.1% overall. E.U. [...]
The post Recap February 9: Tesla Stock Surges 300% – Stocks Hit Record Highs (Recap Ep057) appeared first on Investing & Day Trading Education: Day Trading Academy.
Coronavirus from China spreads rapidly and hits global markets. Past Monday US stocks nosedived, S&P500 down 1.3%… NASDAQ fell 1.7%… DAO 1.48%. Tuesday markets went up. Thursday closed higher despite the Coronavirus being declared a global emergency by The World Health Organization. Friday markets plunged 600 points due the virus alert. Nations around the world are evacuating their diplomatic staff and citizens. Since the Coronavirus threat started 1 Trillion USD of global equities gone. Oil has been affected, precious metals not so [...]
The post Recap February 2: Coronavirus Hits Stocks – Trump Impeachment (Recap Ep056) appeared first on Investing & Day Trading Education: Day Trading Academy.
Funding for Forex activated, we still don’t recommend it for new traders, but if you have enough experience come on over to Speed Up Trader, eventually we’ll have Crypto CFD’ stocks. Coronavirus! New threat to the world arises, according to China Government, it already has killed 56 people and infected over 2K since the first case was detected last week. The virus has made it to other countries and so a new crisis begins. Big selloff past tuesday, due the virus scares, [...]
The post Recap January 26: New Forex Funding! – Coronavirus from China (Recap Ep055) appeared first on Investing & Day Trading Education: Day Trading Academy.
Trade agreement phase 1 between China and the US holds the Trade War! China pledged to buy goods and services from the US over the next 2 years, for the value of $200,000 Millions. The past week balance was: monday US stocks rose, tuesday were mixed due anticipation of the trade deal, wednesdays rose but just behind record highs, on friday the US stocks hit another record highs as well, due investors optimism on the data. DAO went up 1,82%… S&P500 1,99%… [...]
The post Recap January 19: Stocks Hit Record Highs Across the Board – Trade War Paused (Recap Ep054) appeared first on Investing & Day Trading Education: Day Trading Academy.
On this week’s Recap. The tension between Iran and the United States endures. Iran launched an attack to an US base in Irak, as retaliation of the killing of their top military General, there were no casualties. Trump hasn’t answered back yet. During this event, Iran destroyed with a missile a commercial airplane, minutes after takeoff by accident, killing over 100 people. The US Dollar rose, seems this week. Bitcoin went slightly up $8K, but still not reached $50K. The US Commerce [...]
The post Recap January 12: War with Iran Paused – Stocks Rise (Recap Ep053) appeared first on Investing & Day Trading Education: Day Trading Academy.
Happy New Year!! The year starts with global tension. US and Iran on the verge of war. First an US embassy was attacked, then the US responded with the killing of Qasem Soleimani, a senior Iranian top General, allegedly, targeting a terrorist group at a military operation in Bagdad, Irak. 2019 was the best years of the decade for Stocks, after 2013, with a favorable tax policy under the Trump administration, wether you love or hate Trump, it’s just facts. US markets [...]
The post Recap January 5: War with Iran – Stocks Finish in Double Digits (Recap Ep052) appeared first on Investing & Day Trading Education: Day Trading Academy.
In the recap of this week, we found that 2019 was a great year for US markets: S&P 500 up more 28.5%, Dow Jones up over +22%, & the NASDAQ up over +34%, Russell 2000 up near +24%. U.S. market on course for its best year since 2013. U.S. 7- to 10-year Treasuries have returned roughly 8%, while U.S. top-quality corporate bonds returned 17%. International Brent crude rose towards $68 a barrel (U.S. WTI to $62) its highest level in over 3 [...]
The post Recap December 29: Record Highs In Stocks – Merry Christmas (Recap Ep051) appeared first on Investing & Day Trading Education: Day Trading Academy.
In the recap of this week, we found that world stocks hovered just off record highs after climbing for 5 consecutive sessions, while U.K.’s pound had heavy losses in the wake of renewed Brexit uncertainty. The latest survey of fund managers showed that a record surge in global growth expectations over the last 2 months, has drastically cut recession worries. U.S President Trump became the 3rd American leader in history to be impeached by the U.S. House of Representatives. Since the vote [...]
The post Recap December 22: Record Highs & Trump “sorta” Impeached (Recap Ep050) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week’s recap was marked by two main facts: The great advance of the agreements between China and the United States to end the trade war, and the elections in the United Kingdom. Stocks around the world soared across the board Friday, on news of an imminent trade deal between the U.S. & China, as well as the end to the U.K. Brexit impasse. Investors now have far more certainty, in what has already been, a banner year for global markets, especially [...]
The post Recap December 15: China & USA Agreement – Brexit. HUGE win (Recap Ep049) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap we bring you some of the news of the week, we tell you about how this week’s Cyber Monday in the U.S. set all kinds of sales records, including one that has become something of an annual tradition: It was Amazon’s biggest shopping day in the company’s history. Cyber Monday registered a total of $9.2B in sales, a spike of nearly 17% over 2018. Shopping on smartphones accounted for 33% of those sales, an increase of 46% vs the [...]
The post Recap December 8: Stocks 1% From Highs – Cyber Monday & Black Friday Record (Recap : Ep 048) appeared first on Investing & Day Trading Education: Day Trading Academy.
On this week’s Recap. New Highs this past Tuesday and Wednesday with a resilient stats for the economy, thanks to the investor optimism during the resolutions of the US/China trade war. Trump supports the Hong Kong protestors, this might complicate the trade talks. Dollar went up significantly. There’s a structural change for China as many companies decided to move their production lines to Vietnam. DAO up to 0.63%, SMP500 up 1%, NASDAQ 1,70% World stocks hit a high in nearly two years [...]
The post Recap December 1: New Highs in Stock Market – BRICS Plan Digital Currency (Recap Ep047) appeared first on Investing & Day Trading Education: Day Trading Academy.
On this week’s Recap. US/China commercial war still holds the markets at a low. Last tuesday, Europe’s world shares had its highest in nearly two years after investor maintained their bets. Riots in Venezuela, Bolivia, and Colombia had a new organized protest, three people died. Bitcoin keeps going down. Central Bank of China lowered its key interest rate since 2015 for monetary easing. US stocks optimism rise. US crude went up 0.09% International Brent down 0.09%. Alibaba Group raised 12.9000 Million Dollars [...]
The post Recap November 24: Protests Continue Globally – Stocks Hardly React (Recap Ep046) appeared first on Investing & Day Trading Education: Day Trading Academy.
On this week’s Recap. Trade war between China and The United States results on records highs. Cryptos down by 6.5% The US Federal budget is heading to an unsustainable path with a $23 Trillion Dollar National Debt. Chile’s coin reaches an historical low due the turmoil the protests are causing to the economy of this country. US Crude went up 0.84% Brent up 1.50%. Precious Metals had the worst week in the last two years. Bolivian president had to resign his charge [...]
The post Recap November 17: Stocks at Record Highs – Worst Week for Gold/Silver (Recap Ep045) appeared first on Investing & Day Trading Education: Day Trading Academy.
Great week for markets around the world. A partial trade deal between The United States and China that could affect global economies positively Bad stats for Crypto, Bitcoin -3.81%. UK freezes Fracking activities even when the current government approved it. The President of Chile refuses to resign. Thailand is announcing a massive Asia – Pacific Trading Pact for 2020. It involves the 10 South East Asian Nations. Iran Nuclear activities are still on the rise even when a deal was set to [...]
The post Recap November 10: Trade Deal Record Highs – California Pension System in Crisis (Recap Ep044) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap we cover some of the most important news that happened this week, on of them is how the auto sales in China may fall to just 26 million this year, a dip of around 8%, industry executives warn, as the world’s largest auto market braces for a 2nd year of contraction amid slowing economic growth & ever tightening vehicle emissions standards. Italian-American Fiat Chrysler & French Peugeot owner PSA have officially agreed to join forces in a $50 billion [...]
The post Recap November 3: Record Highs In Stocks – Fed lowers interest rates (Recap Ep043) appeared first on Investing & Day Trading Education: Day Trading Academy.
Among the most important news that happened this week are the protests going on in Chile. Emerging market investors trading in the Chilean peso lose as the worst protests in decades are occurring leading to 1000’s of arrests & 15 deaths. European firms are exposed, especially miners with operations in the copper-rich country. JPMorgan is turning bearish on Chile’s domestic stocks, lowering the country to underweight from neutral. President Piñera acknowledges government failures & is announcing economic reforms intended to restore order. [...]
The post Recap October 27: World Riots Rock Stocks – China More Rich than Americans (Recap Ep042) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap we cover some of the news that affected the market the most like the preliminary trade deal between China and the U.S. U.S. recession concerns are easing now that the Treasury yield curve is no longer inverted. It has been a reliable bond-market harbinger of past economic downturns. However, markets are still divided on whether a recent steepening of the curve points to brighter economic prospects, or remains an indication that the U.S. is still rushing headlong, into a [...]
The post Recap October 20: Partial Trade Deal – Stocks Trading Mixed (Recap Ep041) appeared first on Investing & Day Trading Education: Day Trading Academy.
In the recap of this week, we found that U.S. stock futures rose higher on Friday, ahead of the 2nd day of trade talks between China & the U.S. with major indices up near 1%. Investors are now counting on at least a partial deal, between the world’s two largest economies. Trade has dominated markets once again this week, with stocks rising & falling with the headlines. President Trump has vowed to block the U.S. House of Representatives’ impeachment inquiry. Democratic congressional [...]
The post Recap October 13: Partial Trade Deal – Companies Abandon Libra (Recap Ep040) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap, markets afected due the weaker economic data from the US and Europe, reflecting on global stocks with negative stats. Billionaire and investor Mark Cuban said “Cryptocurrencies, particularly Bitcoin, are only worth what someone is willing to pay for it” PayPal withdraws from Facebook’s Libra proyect, Visa and MasterCard are evaluating if they do the same. This thursday interest rate on Futures Traders are increasing The Central Bank of The United States bet, as the Bank is to low [...]
The post Recap October 6: Facebooks Libra in Trouble – Bad Economic News (Recap Ep039) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this week’s recap we find several ups and downs in the Asian and American markets, due to the trade war and the different decisions of the political leaders. On Wednesday, the Japanese trade deal & increased optimism about a possible agreement with China helped propel the U.S. stock market higher in its best day in 2 weeks. Investors are shrugging off the news of an impeachment inquiry into President Trump, while Nike shares jumped 4.2% on upbeat quarterly results. Helping sentiment, [...]
The post Recap September 29: Stocks Drop, Oil Drops, Trump Drops (Recap Ep038) appeared first on Investing & Day Trading Education: Day Trading Academy.
In the recap of this week, the most important news were the drone attacks on the Saudi oil industry, what forced a shutdown of half its crude production, amounting to a loss of 5.7M barrels a day, or roughly 5% of the world’s daily production of crude oil. Yemen’s Iranian-aligned Houthi rebels claimed credit for the strike at important Aramco facilities, including the world’s largest oil processing plant & a major oil field. The U.S. government will try to mitigate any damage [...]
The post Recap September 22: Marshall Swaps Dollar for Digital Currency – Saudis Arabia Attacked (Recap Ep037) appeared first on Investing & Day Trading Education: Day Trading Academy.
In the recap of this week, we found that U.S. & world stock markets are overall climbing to their highest level in 6 weeks, as the European Central Bank prepares to offer new stimulus measures. The United States & China made mutual concessions in their ongoing trade dispute, improving investor demand for equities. An anonymous entity recently made 1 of the biggest transactions in Bitcoin history at 94,504 bitcoins. At the then-current Bitcoin price of around $10,600, the transaction was worth almost [...]
The post Recap September 15: France & Germany Block Facebook’s Libra – Stocks Rise (Recap Ep036) appeared first on Investing & Day Trading Education: Day Trading Academy.
In today’s recap we talk about the big news in cripto currencies this week with the announcement by the payments department of the people’s bank of China that they’re launching a new criptocurrency that’s gonna be similar to Facebook’s Libra. This new cypto is gonna be able to go across all major payment platforms including WeChat and Alipay. Also, we talk about the blow the UK Prime Minister Johnson’s Brexit strategy recieved by lawmaker voting to delay the country’s exit from the [...]
The post Recap September 8: China Launches Digital Currency – Germany almost in Recession (Recap Ep035) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week the markets went up, president Trump said that China pretends to reach a deal with the United States and is talking about reestablishing the dialogs. Corporate leaders in the U.S. are selling their stocks due to the uncertainty around economic growth, more than 600 million dollars in stock have been sold each day during August. In financial news, investors think that the trade war is gonna put pressure on the interests of the U.S. central bank. Expectation was created with [...]
The post Recap September 1: Insiders Selling Stocks in Droves – Trade War Continues (Recap Ep034) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this Recap, we find that the trade war between the U.S and China with a continuous retaliations in each side. The situation right now in the U.S is not just an escalation of the trade war, it is also an attempt to change supplies and productions located in China, causing a decrease in the Chinese economy. The stock markets in the U.S, in general, go down, the European market was mixed and also the Latin American market was mixed as well. [...]
The post Recap August 25: Stocks Tank – Trade War Heats Up (Recap Ep033) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this recap, we find that U.S. stock markets had their worst drop of the year on Wednesday, with the Dow dropping 800 points or 3%. The U.S. trade war with China has been a central concern in recent days, but the U.S. Treasury yield inversion between the 2- & 10-year notes, had greatly raised the fears of a recession among investors. World stocks were rising Friday morning as expectations grew of further stimulus by central banks, offsetting worries about slowing global [...]
The post Recap August 18: Worst Day for Stocks since 2019 – New Zealand Makes Bitcoin Legal (Recap Ep032) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this recap, we find that rising trade tensions between the United States & China pushed U.S. stocks to their worst week of 2019. Both the S&P & the Nasdaq have now erased their steep losses from Monday, the Dow still down on the week. Mid-week the German 10-year yield hit a record low -0.60% yield. French 10-year yields slid to -0.35%, the Netherlands to -0.50%, & Switzerland to -1.00%. The Japanese 10-year yield was down to -0.20%. There is now the [...]
The post Recap August 11: Stock Lose $1 Trillion – Gold Outperforms Stocks in 2019 (Recap Ep031) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this recap we find that the Dow & S&P 500 had their biggest daily percentage drops since May 31 on Wednesday, after the U.S. Federal Reserve cut interest rates for the 1st time since 2008, but remarks by Fed Chair Jerome Powell dampened expectations for further rates cuts going forward. With the Trump announcement of new tariffs on Chinese imports U.S. oil prices plunged over 7% to settle below $55.00 a barrel. In a further blow to the global trade technology [...]
The post Recap August 4: Class Action Lawsuit Forex Manipulation – Interest Rate Drop (Recap Ep030) appeared first on Investing & Day Trading Education: Day Trading Academy.
In this recap we find that despite news that there will be a U.S. Department of Justice investigation into American high technology firms on grounds of antitrust grounds, the U.S. stock indices NASDAQ & the S&P 500 reached new all-times highs at the market close on Wednesday at 8321.50 & 3019.56 respectively. June 23rd, Boris Johnson, the U.K.’s former foreign secretary & a strong proponent of Brexit, will replace Theresa May as Prime Minister after winning the Conservative Party’s leadership contest. The [...]
The post Recap June 28: Stock Trading at Record Highs – Brexit & Warships (Recap Ep029) appeared first on Investing & Day Trading Education: Day Trading Academy.
U.S. stocks from the 3 major benchmark indexes, the Dow, S&P 500 & the Nasdaq, once again closed Monday at a fresh all-time high, surpassing records set on Friday, as the corporate earnings season begins & investors consider new economic data from China. Facebook says Libra will be a stable, universally accepted crypto-currency that will make sending money online far easier helping promote financial inclusion. U.S. oil prices tumbled Tuesday after U.S. Secretary of State Pompeo hinted at thawing tensions between the [...]
The post Recap July 21: Stock Market Record Highs – Silver explodes (Recap Ep028) appeared first on Investing & Day Trading Education: Day Trading Academy.
Investors in the U.S. made the most money in a week reaching the highest ammount since 2014, the record was 25.1 billion dollars. U.S. stocks have gone up 10 trillion dollars since president Donald Trump was elected in 2016. Also, the president of the central bank of the U.S. said that Libra should not continue working due to security reasons and to prevent money laundering. One of the stock exchanges in Japan lost 32 million dollar from its clients due to a [...]
The post Stocks Trading at Record Highs Again – Havoc in Oil Market (Recap Ep027) appeared first on Investing & Day Trading Education: Day Trading Academy.
On this week’s Recap we talk about the truce in de trade war between the United States and China. The stocks went up to its highest historical level. Also, with the companies in NASDAQ going down it starts to look like the economy is not going as well as they say it is. The G20 reunion boosted the market during this week, but even though everything seemed to get better between the United States and China, the talks between the European Union [...]
The post Recap July 7: Stocks Trading at Record Highs – Trade Truce (Recap Ep026) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week on tuesday the Dow and the S&P 500 had their worst day. And in the international markets, the Swiss government forbid the EU access to Switzerland’s stock exchanges. There is a lot of expectative around the results of the G20 summit and the negotiations between the US and China. Bitcoin ends this week with good news reaching 11.000, which means it triplicated its price this year. Oil in the US went up. Gold and silver went up due to the [...]
The post Stocks have record June – Gold & Silver Explode (Recap Ep025) appeared first on Investing & Day Trading Education: Day Trading Academy.
On monday the market went up and continued along the week. The S&P 500 closed with a historic high, and the Dow reached record high throughout the day. One of the most relevant news of the week has to do with Mario Draghi, who is the president of the European Central Bank; It started the easiest monetary policy where they devaluate the currency through interests and buy their own debt and assets. Gold went up 6% in the last 30 days, this [...]
The post Recap Jun 23: Stocks Hit Record Highs – Gold & Silver explode (Recap Ep024) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week we talk about the backing that Facebook is getting for the launch of it’s new cryptocurrency, it’s been backed by 12 firms including Visa, MasterCard, PayPal and Uber, they’re gonna be investing nearly 10 million dollars each in a consortium that’s gonna allow them to govern the digital coin. We also talk about the protest that have been going on in Hong Kong due to a new extradition law that China wants to pass. In case you didn’t know, When [...]
The post Facebook Crypto gets investors – Oil Tanker Attacks (like we predicted) (Recap Ep023) appeared first on Investing & Day Trading Education: Day Trading Academy.
May was the worst month for the S&P 500 in the U.S. which is the stock exchage that we teach to trade in. It fell more than 6,5%, the DAO fell below 25k and the Nasdaq is now in correction territory, one of the things that impacted the Nasdaq the most were the reports about the U.S. antitrust investigations against Google and Amazon and other big tech companies. On thursday Mexico reported they were gonna send 6k soldiers to the Guatemala/Mexico border [...]
The post Recap Jun 9: Stocks have best week of the year – No Tariffs on Mexico (Recap Ep022) appeared first on Investing & Day Trading Education: Day Trading Academy.
Today we talk about the big news concerning the trade ward this week, China wants to start restricting the sale of rare earth minerals to the United States, and as a response, the U.S. is looking to strengthen its doemstic production of said mineral in order to reduce its reliance on China. Also, this week Trump said he wants to impose tariffs on Mexico if they don’t help stop the illegal immigration to the United States, this has been one of the [...]
The post Recap June 02 Markets Drop on Trade War Fears – Rare Earth Metals & Mexico (Recap Ep021) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week what has dominated the news has been the trade war between the U.S. and China and what Trump made with Huawei’s stock. The markets went down on monday due to this, and all of this is going to increase the “hell” that is the trade war between these two countries. On monday the markets went up due to some good information and economic numbers that came out, but they went back down on wednesday and thursday due to the trade [...]
The post Recap May 26: Trade War Explodes w/ Huawei – Modi wins Re-Election in India (Recap Ep020) appeared first on Investing & Day Trading Education: Day Trading Academy.
Today we talk about the big news of the week, which is the trade war between China an United States, Trump raised the tariffs up to 25% and China retaliated. This caused some chaos and is what most of all afected the markets internationally, due to this newes the markets plunged on monday, the DAO and S&P 500 had the worst day since january 3rd, the NASDAQ had its worst day since 2019 and had its biggest one day drop since December [...]
The post Recap May 19: $1.2 Billion Fine Forex Manipulation – Microsoft starts Blockchain (Recap Ep019) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week the markets were affected by the situation between China and the USA, the so-called Trade War where the USA intends to apply custom tariffs by 25% to the products of the Asian country that enter the United States and create new retaliations of the Chinese country. The Bitcoin went up 10.99% $ 6,300.45 cents; the news with cryptocurrencies did not finish there. Its security was violated when one of the largest stock exchanges of cryptocurrencies was hacked. 7,000 Bitcoins were [...]
The post Recap May 12: $1.2 Billion Stolen in Cryptos – Trade War Returns (Recap Ep018) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week had a positive closure. S&P500 & NASDAQ closed at record highs. Chase Bank & Microsoft will start using blockchain technology. One of the future implementations would be for new pay systems. This made Bitcoin rise 5.43% to 5,671.86 In financial news. The ICI dollar index has reached its highest level in the last years thanks to the good american economy. Europe’s oil refineries cut the supply purchase from Russia, reducing oil import in 10%, due to oil contamination. Because of [...]
The post Recap May 5: Stocks at Record Highs – Warren Buffet Another Bad Investment (Recap Ep017) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week historic records were hit in U.S. stock exchange with NASDAQ and S&P 500, there was a constant rise for almost three weeks achieving historic peaks, it is expected that it won’t last for too long. On tuesday morning stocks for Disney, McDonald’s and Microsoft reached historic records. 140 out of the 500 companies in the S&P 500 achieved results above 20% during 2019. In the international markets Brazil’s stock exchange was at the rise thanks to the pension reform, the [...]
The post Recap April 28: Stocks at Record Highs – Economy Grows More Than Expected (Recap Ep016) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week we talk about the rise in the markets, particularly the S&P500 and NASDAQ which reached record highs during this week. In 2019 the S&P500 has gone up 15.88% total, NASDAQ has gone up 20.54% total and the DAO went up 13.86%. Also, multiple tech companies went public this week, some of them are Pinterest and Lyft. Pinterest was at $19 USD. Lyft, Uber’s competitor also went on an IPO starting with $72 USD. Another company that also did an IPO [...]
The post Recap April 21th: Stocks at Record Highs – IPO week (Recap Ep015) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week we talk about the growth that the growth that the indian economy is having, it is the fastest growing economy in the world since 2014, it is thought that it will surpass the England taking its spot as the 5th largest economy in the world. Indian GDP grew 35% going from 1600 dollars in 2014 to 2200 in 2019. We also talk about Uber and its IPO, it is going public and wants to sell 20 billion dollars in shares, [...]
The post Recap April 14th- Uber IPO – India To Be 5th Largest economy in 2019 appeared first on Investing & Day Trading Education: Day Trading Academy.
After a dificult 2018, the S&P500 went up 13% in the first 3 months of the year, making it the strongest trimester since 2009 crisis. S&P500 closed at 2%, it’s highest point in history, the golden cross pattern suggests we could go higher up on the short term possibly reaching historic heights. The international and european markets went up thanks to possitive information from China, there are good forecasts regarding commercial agreements between the U.S. and China. In latinamerica the stock exchange [...]
The post Recap April 7th: Golden Cross Pattern For Stocks & Zombie Companies Ep013 appeared first on Investing & Day Trading Education: Day Trading Academy.
This week we talk about the new platform that is completely free, if you want to download it you can go to www.daytradingacademy.co/plataforma This is not our own platform, but it is completely free, so you won’t have to pay for a platform ever again. This week the market went up in the U.S. thanks to the banks and technology stocks, the NASDAQ and the S&P500 have reached their highest points in the last 5 months.
The post Recap March 24 – Central Bank Stops Tightening – Guerrilas in Colombia Ep11 appeared first on Investing & Day Trading Education: Day Trading Academy.
This week we had 2 spectacular news, first; the platform that I’ve been telling you about is finally ready, we are looking for more or less 10 or 15 traders to be able to make the process. Remember that this platform is gonna be completely free. Second, new micro futures in the stock market, before you needed a minimum of 500 dollars to be able to operate, but now to operate the micro future it’s gonna be a minimum of 50 dollars. [...]
The post Recap March 18- Stocks Rise, New Micro Futures, Chaos with Boeing. appeared first on Investing & Day Trading Education: Day Trading Academy.
Latinos record low poverty – Venezuela hangs on thanks to Cuba
The post Recap March 11-Latinos record low poverty – Venezuela hangs on thanks to Cuba appeared first on Investing & Day Trading Education: Day Trading Academy.
Venezuela Sanctions – North Korea Summit This week we are discussing the $166 million dollars stolen by the cryptocurrency exchange in Canada (not Bangladesh or another 3rd world country) and also the effects of the Q40 earnings. The leader of the socialist paradise in Venezuela is getting more pressure and also blocking humanitarian aid into his country and also the results of the markets this week
The post Venezuela Sanctions – North Korea Summit: Recap March 04 Ep008 appeared first on Investing & Day Trading Education: Day Trading Academy.
Warren Buffet loses $25 billion – Markets Recover
The post Recap Feb 25- Warren Buffet loses $25 billion – Markets Recover appeared first on Investing & Day Trading Education: Day Trading Academy.
Markets rise – Chase launched cryptocurrency
The post Recap Feb 18- Markets rise – Chase launched cryptocurrency appeared first on Investing & Day Trading Education: Day Trading Academy.
This week we are discussing the $166 million dollars stolen by the cryptocurrency exchange in Canada (not Bangladesh or another 3rd world country) and also the effects of the Q40 earnings. The leader of the socialist paradise in Venezuela is getting more pressure and also blocking humanitarian aid into his country and also the results of the markets this week. Podcast is available below
The post Recap Feb 10 – $136 Million Stolen In Cryptos – Q4 Earnings Ep005 appeared first on Investing & Day Trading Education: Day Trading Academy.
Government shutdown over – China’s Gold
The post Recap Jan 25: Government shutdown over – China’s Got Gold – EP004 appeared first on Investing & Day Trading Education: Day Trading Academy.
This week in the markets we saw huge news with a “potential” trade deal between President Trump and China, rises in global markets, and also interesting news with Cobalt and the demand for electric cars in the future. Podcast es available below the video.
The post Possible Trade Deal Explodes Stock Market – Longest Shutdown Ever – Recap Ep03 appeared first on Investing & Day Trading Education: Day Trading Academy.
This week we are discussing how Warren Buffet made a big error in his investments in Apple and also a new exchange that is opening considered by its founders to be “more transparent” than others. Podcast es available below the video
The post Big error by Warren Buffet – New Exchange for “transparency” – Weekly Recap (PODCAST EP2) appeared first on Investing & Day Trading Education: Day Trading Academy.
This week we share the results of the end of 2018 and also the first week of 2019. Even though everyone is talking about how great the economy is we show with the facts that this isn’t the case…
The post Recap – An amazing 2018 & Incredible 2019 start – NOT (PODCAST AVAILABLE) appeared first on Investing & Day Trading Education: Day Trading Academy.
We just introduced the WanderingTrader Lifestyle Podcast on our sister site, WanderingTrader.com. Since this is an interview with an amazing day trader and friend. We decided to post it here on the DTA blog. A couple of years ago I had the great pleasure of meeting Brice Peressini, another day trader traveling the world. At The Day Trading Academy we always come up with nick names for all of our Master Traders. It is…. a right of passage. When you have a [...]
The post NEW WanderingTrader Podcast: Brice Peressini – Trading A Millionaire Dollar Fund, Traveling The World, What It Takes To Achieve Your Dreams, Epic Mustaches, Cycling, Street Art, and More. appeared first on Investing & Day Trading Education: Day Trading Academy.