Your Chilean wine and salmon are about to get more expensive. Olive oil too.
Build value from the ground up ⛏️
Phoenix Capital Group specializes in oil, gas & mineral rights acquisition, and investment.
Investors can purchase 9-13% annual interest bonds from Phoenix Capital Group. Interest is paid monthly, and compounding is available to maximize potential returns.
While Phoenix is a relatively young company compared to say, Chevron or BP, they are one of the fastest-growing privately held companies in oil and gas. 4,500+ investors have received $50 million+ in interest payments.
How it works:
Phoenix sells fixed-rate investment bonds for those who want to get into the space or are looking for passive income.
These bonds offer monthly payments with a fixed rate of return. You can opt for compounding interest, and invest using your IRA.
They use capital from the bonds to pursue accretive assets (i.e., mineral rights)
These assets fall into 3 categories: Royalty assets, Non-operated working interest assets, and Phoenix Operating Company (where Phoenix performs oil and gas development)
Anyone in the US can invest. There are options for both accredited and non-accredited investors.
(There's currently a waitlist for non-accredited investors, but accredited folks can start with $25,000 minimum investments)
📰 Market Headlines
Stocks struggled to find direction as September's sluggish start continued.
The S&P 500 and Nasdaq slipped 0.2% and 0.3%, respectively, while the Dow Jones eked out a 0.1% gain.
Job openings fell to 7.67 million in July, the lowest since January 2021.
The Biden administration announced plans to block Nippon Steel's acquisition of US Steel.
US Steel shares plunged nearly 25% on the news.
Vice President Harris proposed a 28% capital gains tax on households earning $1 million+ annually, down from Biden's 39.6%
Nvidia denied reports it had received a DOJ antitrust subpoena and confirmed its willingness to cooperate with regulatory inquiries.
🕶️ Market Vibes
🎰 Market Forecasts and Futures
😱 Fear and Greed Index
🎤 What you said last time
What you had to say:
“MEDITATIONS by Marcus A”
📈 Trends you need to know
Some analysts think the sharp decline of copper means a recession is imminent.
🧠 What do you think?
When America imposes tarrifs on foreign goods, it's a tax on
📊 Stocks
Get $20 free shares at public.com using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
C3.ai missed quarterly subscription revenue estimates as enterprises cut costs; shares plunged 19%.
Hewlett Packard Enterprise raised its annual profit forecast on AI strength, but shares fell 3% as quarterly revenue dropped.
Dick's Sporting Goods beat earnings estimates, but issued cautious guidance; shares dropped 5%.
Dollar Tree fell 22% after cutting its full-year outlook citing pressures on middle and higher-income customers.
Market movers
Disney and DirecTV clashed over TV bundling, leaving 11 million customers without ESPN during major sporting events.
X began hiring for security and safety roles after laying off 80% of its trust and safety staff since Musk's takeover.
Steward Health Care received approval to sell six Massachusetts hospitals for $343 million, taking no profit from the sale.
The UK tightened regulations on water companies, introducing harsher penalties including imprisonment for executives to combat sewage pollution.
Lyft cut 1% of its workforce, selling $34-46 million in bike and scooter assets to focus on e-bikes.
Ideas, trends, and analysis
Commodities screamed recession as copper tumbled 20% since May.
US firms reported weaker employment growth and pulled back on hiring from mid-July through late August, according to the Fed's latest Beige Book survey.
The US national debt ballooned to $38 trillion, with budget deficit spending exceeding 7% and tax receipts lagging.
🌍 Global Perspectives
🇺🇦 Ukraine's President Zelenskiy ordered a major government reshuffle, including the resignation of Foreign Minister Dmytro Kuleba.
🇮🇱 Israeli Prime Minister Netanyahu stated Israel will not leave the Gaza border corridor until it is secure.
🇻🇪 🇺🇸 A US Navy sailor was detained in Venezuela after traveling there without the required authorization.
🇻🇪 Venezuelan President Maduro announced plans to move Christmas to October amid ongoing political turmoil following the disputed presidential election.
📊 Crypto
Spot Bitcoin ETFs bled $287 million on Tuesday, marking the largest daily outflow in four months.
The SEC delayed its decision on the 7RCC Spot Bitcoin and Carbon Credit Futures ETF to November 21.
🧠 Errata
A new crime-tracking tool launched, aiming to outpace sluggish FBI data with a six-week lag.
A bow hunter survived a surprise grizzly bear attack in Idaho, escaping with non-life-threatening injuries.
Federal agents seized $33 million worth of cocaine from a boat near Vieques, Puerto Rico, as smugglers fled the scene.
Blue Origin's massive drone ship, "Jacklyn," arrived in Florida, prepping for New Glenn's first launch and landing attempt on October 13.
📺 What to Watch Today
That’s all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
