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- π° Raytheon admitted to defrauding the US
π° Raytheon admitted to defrauding the US
π And the FTC made it easier to cancel unwanted subscriptions
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π° Market Headlines
Stocks rebounded sharply yesterday, with the Dow Jones Industrial Average surging nearly 350 points to a fresh record high.
The S&P 500 climbed 0.5%, while the Nasdaq gained 0.3%.
The FTC adopted a "click-to-cancel" rule, requiring businesses to simplify canceling subscriptions and prevent unauthorized charges.
A Georgia judge blocked a ballot hand-counting rule.
Amazon and Dominion partnered to develop nuclear reactors in Virginia, part of a $500 million investment.
πΆοΈ Market Vibes
π° Market Forecasts and Futures
π± Fear and Greed Index
π€ What you said last time
What you had to say:
βBoeing needs to return to its roots as an engineering company and eliminate any executive that thinks otherwise. Boeing must hire the best and brightest companywide, regardless of color or any other checkbox. It needs to rid itself of DEI and ESG completely. It needs more control of its supply chain. There is no excuse for the door plugs blowing out. They must lack Quality Control procedures. Bringing more of its supply chain inside is probably a good idea. They should have never, ever launched that Starliner capsule unless it was perfect. Space is unforgiving.β
π Trends you need to know
While declining, cocoa prices are more than 3x of their historical averages. Not so sweet.
π§ What do you think?
Both cocoa and coffee prices are up bigly this year.
Which would you rather give up? |
π Stocks
Get $20 free shares at βpublic.comβ using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
Abbott reported strong Q3 sales growth, pushing shares up 1.5%.
Alcoa reported Q3 profit jumped 182, shares jumped 5.6%.
ASML shares plunged 4.9% after cutting 2025 financial guidance.
Morgan Stanley beat estimates; shares rose 6.5%.
Citizens Financial projected Q4 net interest income to rise 1.5%-2.5% sequentially, yet shares dropped 2.46%.
Market movers
RTX agreed to pay $950 million to settle US fraud and bribery charges.
Airbus announced plans to cut 2,500 jobs by 2026 due to a tough space market.
Apple launched new tools for managing email, calls, and payments.
Intel laid off 2,000 workers as part of a 15,000-job cut plan.
Meta sacked βa small numberβ of employees from its Whatsapp and Insta divisions.
Ideas, trends, and analysis
Cocoa prices doubled for 2024/2025, potentially raising Halloween candy costs.
US import prices dropped 0.4% in September, easing inflation.
40% of Americans now live in hurricane areas, and the number of people moving to wildfire zones has risen by 146%.
π Global Perspectives
π³π¬ A tanker explosion in Nigeria killed 147 after the driver lost control in Majiya.
π¨π³ πΉπΌ China reaffirmed it wonβt renounce force over Taiwan during Xi Jinping's island visit.
πΊπ¦ π·πΊ Ukraine shot down 68 of 136 Russian drones in a large overnight attack.
π²π½ Mexicoβs ex-drug czar Garcia Luna faces sentencing for taking Sinaloa Cartel bribes.
π·π΄ Romania is set to raise the minimum wage by 9.5% in January 2025.
π Crypto
Yellow Card raised $33 million to expand payment services in 20 African countries.
Stacked launched a Bitcoin and gold ETF to hedge against inflation and currency debasement.
Binance Labs invested in Lombard Finance, a $640 million Bitcoin liquid staking platform.
A promoter of the Forcount crypto Ponzi scheme was sentenced to 20 years and forfeited $3 million.
π§ Errata
A wild cat from Africa was found under a deck in Chicago.
A snake slithered through the Dodgers' dugout during Game 2 of the NLCS.
Spotify has begun to struggle with album imposters on real artists' pages.
πΊ What to Watch Today
Thatβs all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
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