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- China boosts (?), stocks at ATHs, Tesla taxis
China boosts (?), stocks at ATHs, Tesla taxis
Week ending October 13th
Do you know what a group of butterflies is called? A Kaleidoscope. Just learned that today.
Here’s a few other cool ones:
A Parliament of owls.
A Coalition of cheetahs.
A Conspiracy of lemurs.
An Unkindness of ravens.
Someone clearly had a bad encounter with ravens.
AnyHOOT - what happened last week?
Markets
PAST WEEK | YEAR-TO-DATE | |
|---|---|---|
Nasdaq | +1.6% | +22.6% |
S&P500 | +1.4% | +22.6% |
MSCI Emerging Markets | -2.0% | +16.7% |
Bitcoin* | -0.1% | +47.1% |
Ethereum* | +0.5% | +4.8% |
Stock of the week: | +53.2% | +44.9% |
Crypto of the week: | +21.7% | +181.0% |
Source: CoinGecko.com As of 4:24PM October 13, 2024
World news
Top news stories of the past week
1) China cranks up the money printer…maybe: Investors were hoping that the Chinese government was going to announce some major concrete plans to boost the economy, but their press conference left details light. China’s property market and consumer confidence have been getting killed, even with recent drops in interest rates and the government’s promise for a “significant increase” in support for the economy.
2) US stocks at record levels: The US stock market closed at record highs on Friday, after banks reported stronger-than-expected earnings. However, also stronger-than-expected inflation data has investors worried that the US central bank may not be that aggressive with its interest rate decreases for the rest of the year.
3) Tesla taxi confusion: Tesla's unveiling of a two-seater, sporty robotaxi called Cybercab has puzzled investors and experts, who question its practicality as a taxi service. The design, which is much different from usual (larger) taxi configurations, has raised concerns about whether it makes sense, despite Elon Musk's claims of low production costs and operating expenses
Top WEIRD stories of the past week
1) Do you like beer, mud, and races? Then we have good news: the annual wife-carrying contest just happened.
2) A lady pleaded guilty to attempting to smuggle 29 turtles from Vermont to Canada in a kayak. Why do that? They’re $1000 each on the black market!
3) A tech glitch on BBC’s weather app predicted 14,408mph winds and 404-degree Celsius temperatures. How many people believed this? I would love to meet them.
Chart
You like charts? Graphs? Ya you do
How important is AI in business these days? Here’s the increase in big U.S. companies mentioning AI:
Investment idea
What are we investing in?
Cyclical stocks
Cyclical stocks are shares of companies that do well when the economy is strong and struggle when the economy slows down. These stocks are usually from industries like travel, retail, or manufacturing—places where people spend more money when they feel confident about the future.
When the economy is booming, these companies often see big growth in their profits, which can lead to higher stock prices.
With recent positive surprises in employment trends, the Chinese government announcing major stimulus efforts, and decreasing interest rates globally, now could be the beginning of a positive economic upswing.
So how do you invest in cyclical stocks?
There are a few easy and cheap options! Check em out!
History
On this day…
…in 1947, General Charles Elwood Yeagar became the first person to break the sound barrier, flying the experimental Bell X-1. He flew just above Mach 1 (the speed of sound) at an altitude of 45,000 ft. What a stud.
Music
Banger of the week
Most important thing
Meme? Nah. Art.
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