🏗️ Biden killed the US Steel sale

📺 While Disney and DirectTV bickered over TV bundling

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 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

Forecasts via ​Kalshi​, the prediction market.

😱 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

Login or Subscribe to participate in polls.

📊 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.

Recommended Newsletter

🌍 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 massive wildfire destroyed 20% of Brasilia's National Forest, with arson suspected.

  • 🇻🇪 🇺🇸 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.

  • Ethereum futures volume on CME plunged to a 9-month low, down 31% from July.

  • 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

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