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Biden addresses the nation
Plus, a "massive freight recession"
*past 24-hour performance
Biden Live: Last night, President Biden addressed the nation “to discuss our response to Hamas’ terrorist attacks against Israel and Russia’s ongoing brutal war against Ukraine.” (Youtube)
Another interest-rate pause? Federal Reserve Chair Jerome Powell suggested the run-up in long-term Treasury yields could allow the central bank to suspend a historic run of interest-rate increases so long as recent progress on inflation continues. (WSJ)
Potential pork IPO: China's WH Group is in talks to potentially list Smithfield Foods, America's largest pork producer, on the U.S. stock market as early as 2024. (WSJ)
Coinbase picks the Irish: Cryptocurrency exchange Coinbase (COIN) is strengthening its presence in Europe and has officially announced Ireland as its European crypto hub of choice. (Coin Telegraph)
Freight recession takes another: Trucking startup Convoy is shutting down due to a “massive freight recession” in a dramatic collapse of a business that raised nearly $1 billion from big name investors including T. Rowe Price and Fidelity. (Freight Waves)
Interest rates weigh on Blackstone: Alternative-asset and private-equity giant Blackstone (BX) fell nearly 8% as its asset growth fell short of analyst expectations in Q3. (Reuters)
How to invest during times of war: Investing during wartime is mostly an exercise in investing during periods of high inflation. And the best assets to own during periods of high inflation are overwhelming stocks and real estate. Read more »
The fog of war: There is a playbook for war: Gold goes up, oil goes up, commodities go up, and stocks don’t always go down. But that’s just in the early stages. Early on in a war, there are fears of contagion, that the war will spread beyond borders and turn into something worse. And there are certainly fears of that today. Read more »
Direct indexing – How you can use it to avoid taxes like the super-rich: Direct indexing was once mostly reserved for the affluent with at least $1 million to invest. But it is now offered to some with as little as $5,000. Read more »
It Has Happened Only Twice In The Last 24 Years! And it transpired the 3rd time last Friday:
1) VIX up >15%
2) Gold up > 3%
3) Brent Crude > 5%The last two times this combo transpired were on 17th September 2001 and 17th September 2008.
Source: Sagar Singh LinkedIn
— Wall Street Silver (@WallStreetSilv)
11:00 AM • Oct 17, 2023
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