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- 🥱 Another ATH for the Dow Jones
Over the weekend, Babe Ruth’s “Called Shot” jersey sold for over $20 million.
Adios, Mexico 👋 Next up: Nashville
Here at Alts, our investing journey leads us to some interesting places. One of the ways we explore new investing ideas is through our investor trips.
In February, we did our first trip to Mexico, and it was a huge success.
This will be an all-inclusive trip of a lifetime. We've got terrific industry speakers joining, including the legendary Scott Cohen, who co-founded The Orchard & sold it to Sony for half a billion dollars (!)
More about Alts Investor Trips:
Apply to join us in Nashville 🎸 (Stocks & Income readers get a 30% discount)
(Two spots left!)
📰 Market Headlines
The Dow notched a record high as investors digested Powell's rate cut signals and awaited Nvidia's earnings.
Markets diverged as the S&P 500 fell 0.32% and the Nasdaq dropped 0.85%, while the Dow gained 0.16% to 41,240.52.
Nvidia shares slid 2.25% ahead of its earnings report, dragging down other tech stocks.
Canada announced plans to impose a 100% tariff on Chinese electric vehicles, including Teslas.
OpenAI, Adobe, and Microsoft have thrown their support behind a California bill requiring watermarks on AI content.
🕶️ Market Vibes
🎰 Market Forecasts and Futures
😱 Fear and Greed Index
🎤 What you said last time
What you had to say:
“History is the best predictor of the future. Nvidia beats expectations.”
📈 Trends you need to know
The Dow hit another ATH yesterday.
🧠 What do you think?
Where does the Dow finish this year? |
📊 Stocks
Get $20 free shares at public.com using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
Trip.com reported strong Q2 2024 earnings, with net revenue up 14% year-over-year as shares rose 1.72%.
Market movers
Dutch regulators fined Uber $324 million for transferring EU drivers' data to the US without adequate safeguards.
Apple named insider Kevan Parekh as its chief financial officer, replacing Luca Maestri.
Shell announced plans to shut portions of its Zydeco oil pipeline for maintenance.
Rivian faced a fire at its Illinois factory, damaging multiple electric vehicles in a parking lot.
Great Value’s apple juice sold at Walmart in 25 states was recalled due to elevated arsenic levels.
US labor board prosecutors accused Chipotle of illegally denying raises to unionized workers in Michigan.
Ideas, trends, and analysis
Oil prices rose 3% due to Middle East tensions and a halt in Libyan oil production.
A study found that 79% of Americans with 20+ years of 401(k) participation will have enough retirement funds.
San Francisco houses 49% of Big Tech engineers and 27% of startup engineers, with its share increasing since 2022.
AI software engineers earned 48% more than their non-AI counterparts.
New York City bus fare evasion surged to 48% of riders, up from 18% pre-pandemic.
🌍 Global Perspectives
🇺🇦 Russia launched its most massive attack of the war on Ukraine, killing at least seven and striking energy facilities nationwide.
🇦🇺 Australia passed a new law giving workers the right to disconnect from work-related messages outside of working hours.
🇵🇰 Separatist militants killed at least 73 people in Pakistan's Balochistan province in widespread attacks on police stations, railways, and highways.
🇸🇩 A dam burst in eastern Sudan killed at least 30 people and left up to 200 missing.
🇧🇷 Brazil reported a suspected case of mpox at São Paulo's main international airport, as the WHO declared a global health emergency over a new variant.
📊 Crypto
🧠 Errata
Police officers are now using AI chatbots to write crime reports.
Heat-related deaths in the US skyrocketed by 117% since 1999, with a sharp 16.8% annual increase from 2016 to 2023.
Orcas slammed into another sailboat off Spain's coast, seriously injuring a crew member.
Two men face up to 10 years in prison for allegedly damaging 140-million-year-old rock formations.
A pilot took shrooms and then tried to crash a plane mid-flight.
📺 What to Watch Today
That’s all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
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