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Sun ejaculated, FTX repays, Brazil floods
Week ending May 12, 2024
PAST WEEK | YEAR-TO-DATE | |
---|---|---|
Nasdaq | +1.1% | +9.8% |
S&P500 | +1.4% | +10.1% |
MSCI Emerging Markets | +0.0% | +7.0% |
Bitcoin* | -4.2% | +43.5% |
Ethereum* | -6.9% | +24.6% |
Stock of the week: | +42.8% | +185.1% |
Crypto of the week: | +18.6% | +20.9% |
*As of May 12, 2024 @ 5:42pm EST. Source: CoinGecko.com
Top stories of the past week
1) The sun ejaculated: More specifically, it had a series of coronal mass ejections that showered the earth with powerful electromagnetic pulses. Upside: northern lights!
2) FTX repaying billions, with interest: FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that - 9% interest!
3) Brazil underwater: Lethal flooding due to intense rain has hit Brazil's Rio Grande do Sul state, with hundreds of thousands displaced and hundreds dead or missing.
Top WEIRD stories of the past week
1) A German political party wants the government to subsidize kebabs. Let’s be honest, this isn’t the most extreme politics to have come out of Germany.
2) A tractor-trailer hauling about 15 million honey bees to be used to pollinate blueberry fields crashed and overturned. The bees are a bit shaken up but contained and in good health.
3) In a show of true stupidity, a U.S. police department kitted out a borrowed Rolls Royce as a cop car to try and encourage people to join the force. If anything, this will incentivize people to commit crimes so they can try and get chauffeured (while cuffed).
On this day…
…in 1950, the Formula One drivers' world championship was launched, with the first race at the British Grand Prix at Silverstone on May 13.
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