🧠 Remember when markets were down?

πŸš€ Me neither

Argentina has found a clever way to combat the destruction of its rainforests to make room for cattle ranching.

Adios, Mexico πŸ‘‹ Next up: Nashville

Here at Alts, our investing journey leads us to some interesting places. One of the ways we explore new investing ideas is through our ​investor trips​.

In February, we did our first trip to Mexico, and it was a ​huge success​.

So this October, we’re doing our second trip: A music-themed investing journey to ​Nashville​ πŸŽΆ

Join our next investor trip to Nashville, Oct 21-25

This will be an all-inclusive trip of a lifetime. We've got terrific industry speakers joining, including the legendary ​Scott Cohen​, who co-founded The Orchard & sold it to Sony for half a billion dollars (!)

More about Alts investor trips:

(Five spots left!)

πŸ“° Market Headlines

  • Stocks surged as consumer strength propelled markets to fully recover August's losses.

    • The S&P 500 and Nasdaq rallied 1.6% and 2.3%, erasing declines from the month's earlier sell-off.

    • Walmart shares jumped 6% after beating earnings expectations, while July retail sales soared 1%.

  • A new lawsuit alleged that 2.9 billion Social Security numbers and personal financial data were compromised in a massive breach.

  • President Biden announced that Medicare has negotiated price cuts of up to 79% on top-selling drugs, saving $6 billion in the first year.

  • Kroger announced plans to lower grocery prices by $1 billion after completing its $25 billion merger with Albertsons.

πŸ•ΆοΈ 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:

β€œShould be fine through 2024. I think in January 2025, the cracks begin to show”

πŸ“ˆ Trends you need to know

US retail sales jumped in July, sending markets up but reducing the likelihood of a 50bps rate cut in September.

🧠 What do you think?

I think climate change is

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πŸ“Š Stocks

Get $20 free shares at ​public.com​ using code ALTSCO.

Winners and losers

Earnings, upgrades, and acquisitions

  • H&R Block beat Q2 expectations; stock soared 5.4% on optimistic full-year guidance.

  • Deere beat Q3 earnings, sending shares higher in pre-market and regular trading hours.

  • Alibaba missed Q2 expectations; shares surprisingly rose 2%.

  • JD.com nearly doubled its profit in Q2; shares climbed 6%.

Market movers

  • Lykos Therapeutics cut 75% of its workforce after the FDA rejected its MDMA-based PTSD treatment.

  • Toyota shifted its focus to hybrid-only models as EV demand slowed.

  • CodeRabbit raised $16 million to automate code reviews using AI, claiming 600 paying organizations.

  • X rolled out passkey support for Android users, removing the need for usernames and passwords.

  • Lockheed Martin agreed to acquire satellite maker Terran Orbital for $450 million.

  • Chinese autonomous vehicle company WeRide filed for a US IPO, seeking a valuation of up to $5.02 billion.

Ideas, trends, and analysis

  • US retail sales surged 1% in July, the largest increase since January 2023.

  • The 10-year Treasury yield topped 3.9% as strong sales data quelled recession concerns.

  • US corporate bond spreads tightened, with investment grade narrowing by 3 basis points to 105 basis points on positive economic data.

Recommended Newsletter

🌍 Global Perspectives

  • πŸ‡ΊπŸ‡¦ πŸ‡·πŸ‡Ί Ukraine advanced into Russia's Kursk region, establishing control over 1,150 sq km.

  • πŸ‡ΊπŸ‡Έ πŸ‡§πŸ‡· President Biden and Brazil's President Lula floated the idea of a new election in Venezuela despite resistance from both parties.

  • πŸ‡ΊπŸ‡Έ πŸ‡©πŸ‡ͺ The US approved a potential $5 billion sale of 600 Patriot missiles to Germany.

  • πŸ‡¨πŸ‡³ China’s oil stockpiles grew by 280,000 barrels/day in July, despite imports hitting a two-year low.

  • πŸ‡·πŸ‡Ί πŸ‡ΊπŸ‡Έ Russia sentenced dual citizen Ksenia Karelina to 12 years for treason after a $51.80 donation to a Ukrainian charity.

πŸ“Š Crypto

  • Illicit crypto activity surpassed $2 billion in 2024, with stolen funds up 84% and ransomware up 2%.

  • A key Bitcoin bull signal flashed for the first time in nearly two years, hinting at a potential price surge.

  • BitGo CEO reiterated wBTC's independence from Justin Sun as MakerDAO voted to reduce its exposure

🧠 Errata

  • Tinder and Grindr users experienced a brief dating app outage, forcing them to consider face-to-face interactions for two hours.

  • A California billionaire allegedly stole sand from a public beach.

  • A teen on a courtroom field trip ended up in cuffs and jail clothes for falling asleep.

  • A tiny southern pudu fawn debuted at Queens Zoo, weighing just 2 pounds at birth.

πŸ“Ί What to Watch Today

Now him, I love.

That’s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt

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