๐ŸŸจ Google gets Wizzed on

๐ŸŒŠ Plus WTF is dark oxygen?

Have you ever seen an $11 million Ferrari?

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๐Ÿ“ฐ Market Headlines

  • Markets rallied yesterday as investors digested President Biden's surprise exit from the 2024 race.

    • The S&P 500 gained 1% while the Nasdaq jumped 1.6%, both coming off their worst weekly losses since April.

  • Vice President Kamala Harris shattered fundraising records, raising $81 million haul in just 24 hours.

  • Cloud security startup Wiz declines Google's $23 billion acquisition offer, opting for an IPO instead.

  • Google abandoned plans to phase out third-party cookies in Chrome and introduced new user privacy controls instead.

๐Ÿ•ถ๏ธ Market Vibes

๐ŸŽฐ Market Forecasts and Futures

Forecasts via โ€‹Kalshiโ€‹, the prediction market.

๐Ÿ˜ฑ Fear and Greed Index

๐ŸŽค What you said last time

๐Ÿ“ˆ Trends you need to know

Canada is going through a rough patch. How long until the problem reaches America?

๐Ÿง  What do you think?

Best nickname for Canada

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๐Ÿ“Š Stocks

Get $20 free shares at โ€‹public.comโ€‹ using code ALTSCO.

Winners and losers

Earnings, upgrades, and acquisitions

  • Cleveland-Cliffs reported Q2 revenue, missing estimates; shares climbed 3%.

  • SAP beat Q2 estimates; shares surged nearly 5%.

  • Verizon missed Q2 revenue estimates at $32.8 billion, dropping shares 7%.

  • Truist Financial jumped 4.4% after earnings report beat Q2 EPS estimates.

  • Nucor topped Q2 expectations, but shares slipped 1%.

  • Zions Bancorporation beat Q2 EPS estimates, rallying shares 3.7%.

Market movers

  • Warner Bros. Discovery's TNT network matched a bid to retain NBA broadcasting rights.

  • Nvidia prepared a version of its new flagship AI chip for the Chinese market.

  • Intel identified a microcode issue causing instability in some 13th/14th Gen desktop processors. A patch release is planned for mid-August.

  • Ryanair extended its $5 meal deal through August at most US locations after 93% of restaurants voted in favor.

  • Big Lots closed three Connecticut locations.

  • Meta's 2022 mass layoff severance agreements were ruled illegal, impacting 7,236 former employees.

Ideas, trends, and analysis

  • Vice President Harris outperformed President Biden against former President Trump in recent polls among women, independents, and younger voters.

  • Global renewable energy capacity surged 50% in 2023.

  • Canadian small businesses faced a bankruptcy surge, with insolvencies jumping 38% in 2023.

  • Sam Altman's basic income study found recipients spent most of the extra $1,000 monthly on food and rent.

Recommended Newsletter

๐ŸŒ Global Perspectives

  • ๐Ÿ‡ฎ๐Ÿ‡ฑ Israel's parliament voted to label the UN relief agency for Palestinians a terrorist organization.

  • ๐Ÿ‡จ๐Ÿ‡ฆ Veteran anti-whaling activist Paul Watson was arrested in Greenland and faces possible extradition to Japan.

  • ๐Ÿ‡น๐Ÿ‡ผ Taiwan started its annual war games, aiming to closely mimic actual combat scenarios.

  • ๐Ÿ‡ธ๐Ÿ‡ฐ Slovakia received its first two of fourteen new F-16 fighter jets to replace Russian-made planes donated to Ukraine.

  • ๐Ÿ‡ต๐Ÿ‡ฆ๐Ÿ‡จ๐Ÿ‡ท A magnitude 5.7 earthquake struck the Panama-Costa Rica border region.

  • ๐Ÿ‡ช๐Ÿ‡น At least 50 bodies were pulled from the mud following two landslides in southern Ethiopia.

  • ๐Ÿ‡ฎ๐Ÿ‡ฑ๐Ÿ‡ต๐Ÿ‡ธ Israel sent tanks back into the Khan Younis area of Gaza, killing at least 70 Palestinians.

๐Ÿ“Š Crypto

  • SEC approved the first spot Ethereum ETFs to start trading on July 23.

  • US Bitcoin ETFs hit a record $17 billion in net inflows.

  • Hong Kong launched Asia's first inverse Bitcoin ETF.

  • Superstate introduced a tokenized fund using the "cash and carry" strategy.

๐Ÿง  Errata

  • Scientists discovered dark oxygen being produced 13,000 feet below the ocean surface.

  • A man made a site to shame airlines after his girlfriend's luggage vanished.

๐Ÿ“บ What to Watch Today

Gulp

Thatโ€™s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt

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