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- Modi for India, Sheinbaum for Mexico, BoC drops
NEW SECTION BELOW: Investment ideas
PAST WEEK | YEAR-TO-DATE | |
|---|---|---|
Nasdaq | +1.8% | +15.0% |
S&P500 | +1.0% | +12.7% |
MSCI Emerging Markets | -1.0% | +5.8% |
Bitcoin* | +2.5% | +63.5% |
Ethereum* | -2.1% | +58.1% |
Stock of the week: | +13.5% | +18.3% |
Crypto of the week: | +62.1% | +21,466.7% |
Source: CoinGecko.com As of 7:37pm June 9th
*Launched on February 28th
Top stories of the past week
1) Modi is BACK: Prime Minister Narendra Modi won in India's parliamentary elections, but with a narrower-than-expected margin, sparking concerns that his ability to implement pro-growth reforms could be hindered if he has to rely on alliances with smaller parties. He’s been in power for 10 years now.
Modi and also DJs: EVERYBODY PUT YOUR HANDS IN THE AIR
2) New jefe in Mexico: Claudia Sheinbaum won a landslide victory to become Mexico's first female president, but her triumph and the ruling party's supermajority in Congress triggered a stock market slump and peso depreciation, as investors fear controversial reforms that could weaken democratic institutions and increase government economic influence. No word on any impact to the price of tequila.
3) Bank of Canada drops rates: The Bank of Canada decided to ease pressure on the Canadian economy, decreasing rates by 0.25% to 4.75% (more plz). This drop came despite the economy growing by 3% in the Q1 2024, in-line with expectations, while the U.S. saw growth come in lower than expected. All eyes will be on the EU and US for next rate cuts.
The real cash-man: Tiff Macklem, Governor of the Bank of Canada
Top WEIRD stories of the past week
1) A YouTuber was charged with launching fireworks at a drifting Lamborghini from a helicopter. Didn’t know you could be charged for doing something that sounded this cool.
2) A father and son engineering duo from South Africa built a drone that set a new speed record: 298.47mph. For those not familiar with drones, that is brisk.
3) Not weird, but lovely, a 100 year old WW2 vet just married his bride, who is 96. On the way to get married, the bride-to-be commented: “It’s not just for young people, love, you know?” I am bawling.
You like charts? Graphs? Of course you do
US unemployment rate since 1980
*NEW* Investment idea
New section! We’ll dive into interesting investment options, starting with…
A.I. - the acronym you’re suddenly hearing every day. Want to know a few ways to get more direct exposure to this revolutionary technology without having to pick individual stocks? Here’s a few diversified ETFs you can invest in:
Global X Robotics & Artificial Intelligence ETF (BOTZ) - This ETF provides exposure to companies involved in robotics and AI, including companies that enable or benefit from the increased adoption of robotics and AI technologies. It has an expense ratio of 0.69%.
First Trust Nasdaq Artificial Intelligence and Robotics ETF (ROBT) - This fund tracks an index of companies engaged in AI, robotics, and automation. It includes enablers, engagers, and enhancers of AI technology. The expense ratio is 0.65%.
WisdomTree Artificial Intelligence and Innovation Fund (WTAI) - This ETF invests in companies involved in AI technology, automation, cloud computing, and other innovative areas. It has an expense ratio of 0.45%.
On this day…
…in 1752, Benjamin Franklin conducted his famous key-on-a-kite-during-a-storm experiment, aka “the death wish special” to see if the key would attract an electrical charge. Glad he did it instead of me.
Banger of the week
Meme? Nah. Art.
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