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Boeing under siege
Plus, the week ahead...
*past 24-hour performance
Upcoming Week:
Tuesday: The latest updates on national home prices, with the Case-Shiller National Home Price Index and Federal Housing Finance Agency’s House Price Index (HPI) for August are released.
Wednesday: All eyes are on the Federal Reserve’s meeting for hints about whether interest rates will remain at their highest in decades, or if they’ll go even higher. We’ll also get the latest updates on the labor market with the Job Openings and Labor Turnover Survey (JOLTS) for September.
Friday: The Labor Department’s nonfarm payrolls report will be released. The U.S. economy likely added 170k jobs in October, after a stronger-than-expected gain of 336,000 in September.
Notable Earnings:
Monday: HSBC Holdings (HSBC), McDonald’s (MCD), Arista Networks (ANET), Welltower (WELL), Public Storage (PSA), ON Semiconductor (ON), Simon Property Group (SPG), & Pinterest (PINS)
Tuesday: Pfizer (PFE), AMD (AMD), Amgen (AMGN), Caterpillar (CAT), BP (BP), Anheuser-Busch (BUD), Eaton Corp. (ETN), Stellantis (STLA), & Marathon Petroleum (MRC)
Wednesday: Qualcomm (QCOM), Mondelez (MDLZ), CVS Health (CVS), Airbnb (ABNB), Humana (HUM), McKesson (MCK), Thomson Reuters (TRI), PayPal (PYPL), Estée Lauder (EL), & Aflac (AFL)
Thursday: Apple (AAPL), Eli Lilly (LLY), Shell (SHEL), Novo Nordisk (NVO), ConocoPhillips (COP), S&P Global (SPGI), Starbucks (SBUX), Booking Holdings (BKNG), Stryker (SYK), & The Cigna Group (CI)
Friday: Enbridge (ENB), Sempra (SRE), Dominion Energy (D), Gartner (IT), Cardinal Health (CAH), Liberty Media (FWONA), & CBOE Global Markets (CBOE)
Making AI safer: Anthropic, Google, Microsoft, and OpenAI are announcing the creation of a new AI Safety Fund, a more than $10 million initiative to promote research in the field of AI safety (Open AI)
Jamie Dimon considering retirement? JPMorgan Chase (JPM) shares closed down 3.6% after the bank revealed CEO Jamie Dimon will begin selling 1 million shares next year (CNBC)
Boeing claimed by ransom gang: Boeing said on Friday it was assessing a claim made by the Lockbit cybercrime gang that it had "a tremendous amount" of sensitive data stolen from the aerospace giant that it would dump online if Boeing didn't pay ransom by Nov. 2 (Reuters)
Exxon boosts dividend: Exxon's (XOM) stock fell 2% on Friday following earnings; The company reported adjusted earnings of $2.27 per share, which fell short of the anticipated $2.37, and its revenue of $90.8 billion did not meet the expected $93.4 billion. Nonetheless, Exxon raised its dividend yield to 3.6% (MarketWatch)
Yelloh starts trimming: The food delivery business Yelloh — formerly known as Schwan’s Home Delivery — is cutting 750 jobs nationwide and closing 90 delivery centers (AP)
Abercrombie lawsuit: Abercrombie & Fitch (ANF) was accused in a lawsuit of enabling former CEO Mike Jeffries to run an alleged sex-trafficking operation for years (WSJ)
House prices are falling in UK: House prices are declining in the overwhelming majority of the UK, as stubbornly high mortgage costs start to bleed into values (Bloomberg)
Cruise hits brakes on driverless: Cruise, a subsidiary of General Motors (GM), announced that is suspending driverless operations in Texas and throughout the U.S. following the California Dept. of Motor Vehicles’ suspension that was announced Tuesday (Fox)
The alternative asset you probably haven't yet considered: Private credit.
While the traditional 60/40 portfolio has fallen short over the past few years, private credit is currently offering double digit yields to investors…
…All while being less-correlated to the market.
It’s no wonder why Blackstone’s billionaire president Jonathan Gray when discussing private credit last month stated: “I would say whenever you can get equity-like returns taking debt-like risk, that’s something you should do.”
For years though, private credit has been an asset class that is out of reach for main street investors.
But that’s changing thanks to Percent – a frontrunner in private credit investments.
Percent offers exclusive private credit deals previously out of reach to most investors. If you’re an accredited investor, you get access to:
Attractive yields: Percent’s current weighted average is 18.3% as of July 31, 2023
Liquidity: Many deals mature in months, not years, with some having liquidity available after just the first month
Low minimums: Invest as little as $500 to start
Stocks & Income readers can receive up to a $500 bonus with their first investment. Sign up now.
Shelby Davis, the least-known “great” of value investing: Davis started investing at 38 years old with just $50,000. By the end of his career, he turned that into $900 Million and averaged 23.2% annual returns. Here’s a quick thread breaking down how he did it. Read more »
Northern Data – to the moon, again? In its five years as a public company, Germany's Northern Data has seen its fair share of hype, controversy, setbacks, and triumphs. Of late, it has been relatively quiet around the company. Right now, not a single analyst is covering the stock. Read more »
Great news about American wealth: Americans have gotten used to reading a bunch of dire, grim news lately — war, inflation, political turmoil, etc. In this swirl of things to worry about, good news tends to fly under the radar. Read more »
A tech overlord’s horrifying, silly vision for who should rule the world (NYT)
The modern music business (Bob Lefsetz)
The national budget deficit was $1.7 trillion in fiscal year 2023 (USA Facts)
Plan to hike electric bills 29% sparks fury in Wyoming (WSJ)
How hackers swindled Vegas (Slate)
DFR is Short Brookfield Infrastructure Partners (DFR)
The S&P 500 Equal Weight index is now down 4.2% YTD versus the S&P 500's (cap-weighted) gain of 9%.
The spread of -13.2 ppts between the two is the most extreme it has been in favor of the cap-weighted index through 205 trading days since at least 1990.
— Bespoke (@bespokeinvest)
1:27 PM • Oct 26, 2023
Thunderclap Research is a professional investment research firm focused on understanding and profiting from market anomalies.
We take both a quantitative and qualitative approach to research and focus extensively on strategies for established money managers and everyday retail investors.
We are a small, self-funded team of real humans going up against the hype-filled, sensational news outlets in the world. You can check out a selection of our other publications below.
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