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📰 Market Headlines
Wall Street surged after the Federal Reserve's jumbo rate cut, with all major indexes hitting record highs.
The Nasdaq led gains, rising 2.5%, while the Dow grew 1.3%. The S&P 500 surged 1.7% to close above 5,700 for the first time.
Existing home sales dropped 2.5% in August to an annual rate of 3.86 million units, the lowest since October.
Nike named company veteran Elliott Hill as its new CEO, replacing John Donahoe.
Trump Media, the company behind Truth Social, hit a new post-merger low as a lockup on insider share sales expired.
🕶️ Market Vibes
🎰 Market Forecasts and Futures
😱 Fear and Greed Index
🎤 What you said last time
What you had to say:
“More cuts could cause inflation to spike again.”
📈 Trends you need to know
Truth Social just hit an all-time low.
🧠 What do you think?
📊 Stocks
Get $20 free shares at public.com using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
FedEx reported a drop in Q1 profit due to lower demand for priority services; shares plunged about 11%.
Darden Restaurants announced a delivery partnership with Uber for Olive Garden menu items, as shares jumped 7%.
FactSet beat Q4 earnings expectations; shares rose 1.06%.
Endava missed Q4 earnings and revenue estimates, and shares plummeted 62.9%.
Lennar options implied a 4.1% move in share price post-earnings.
Cracker Barrel reported a drop in Q4 earnings; shares fell 6.37%.
Market movers
Apple launched its Intelligence platform in a public beta.
Terraform Labs received court approval to wind down operations after agreeing to a $4.47 billion SEC settlement over crypto fraud charges.
Delta Air Lines paused flights between New York and Tel Aviv through December 31, citing escalating security concerns.
Palantir secured a $100 million US military contract to expand access to its AI-powered targeting tools.
Amazon debuted Project Amelia, an AI assistant for sellers to help manage their businesses.
A Macquarie Group adviser agreed to pay $79.8 million to settle SEC charges for overvaluing collateralized mortgage obligations.
Ideas, trends, and analysis
Halloween shoppers started early this year, with 47% beginning before October.
Tech sector layoffs surged 60% in 2024 versus 2023.
The US healthcare system ranked last among high-income nations in health outcomes, access, and equity.
🌍 Global Perspectives
🇮🇱🇱🇧 Israel launched strikes on Hezbollah targets in Lebanon, escalating tensions in the region.
🇵🇱🇨🇿🇩🇪 European Commission President Ursula von der Leyen pledged billions in EU aid for flood-hit central Europe.
🇵🇸🇮🇱 Israeli forces killed six Palestinians and injured 18 others during a military raid in the occupied West Bank city of Qabatiya.
🇧🇷 Brazil announced plans to reinstate daylight saving time as drought forced the country to use costly thermoelectric plants and energy imports.
🇫🇷 One of 50+ men accused in France's mass assualt trial apologized to victim Gisele Pelicot in court.
📊 Crypto
Blockchain sleuth ZachXBT uncovered a $243 million crypto heist from a single Genesis creditor.
Solana Mobile unveiled its new crypto smartphone "Seeker" at TOKEN2049.
Samourai Wallet founder Keonne Rodriguez was denied changes to his bail conditions, facing up to 25 years for money laundering charges.
CertiK Ventures announced plans to invest $45 million in new security products and startups.
🧠 Errata
A cat named Rayne Beau walked 800 miles home after getting lost in Yellowstone National Park.
In a new dress code memo, Delta Airlines told flight attendants to avoid visible panty lines.
NASA's Artemis I mission revealed its radiation shielding effectively protected mannequins from cosmic rays.
📺 What to Watch Today
That’s all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
