SBF is guilty

Plus, Palantir skyrockets...

03 Nov

*past 24-hour performance

  • SBF guilty: Sam Bankman-Fried was found guilty Thursday on all seven charges against him, including fraud on FTX customers and investors, fraud on Alameda's lenders and conspiracy to commit money laundering. (NYT)

  • Best week of 2023?: The S&P 500 leaped 1.9% for its fourth straight winning day. It’s already up 4.9% this week and on pace for its best week in nearly a year with hopes that the Federal Reserve may finally be done with its market-rattling hikes to interest rates (AP)

  • A cheaper Thanksgiving: Store prices for the 10-to 15-pound turkey, typically the star of the holiday dinner, have dropped 13% in October compared to the same month last year. (CNN)

  • ARMs jump ~10%: As higher rates continue to impact affordability and purchasing power, ARM loans increased almost 10 percent last week and continued to gain share. (CNBC)

  • Child care costs are spiking: The average child care payment is up 32% from 2019, according to new data from the Bank of America Institute. The price surge outpaced overall inflation. (Axios)

  • Palantir has a day: Shares of Palantir (PLTR) closed up 20% yesterday after the company released Q3 earnings that beat analysts' expectations and raised full-year revenue guidance. (CNBC)

  • Roku's stock leaps: Roku (ROKU) shares jumped after the digital video company turned in a Q4 revenue outlook that was stronger than Wall Street expected; Shares closed up more than 30%, the biggest percent increase since late July. (CNBC)

  • PayPal wants to get “leaner”: PayPal Holdings (PYPL) added nearly $4 billion to its market value after a pledge to turn "leaner" fired up investors, even as it disclosed a subpoena from the SEC tied to its stablecoin. (Reuters)

  • Japan announces stimulus plan to… fight inflation: Japan's cabinet approved a package of economic measures worth about $112 billion, including income tax cuts, as Prime Minister Fumio Kishida grapples with persistent inflation and falling approval ratings (Nikkei Asia)

  • ConocoPhillips lifts dividend 14%: ConocoPhillips (COP) jumped almost 6% after the oil explorer boosted investor payouts and raised its production outlook. (Yahoo)

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  • Hybrids > EVs and the beginning of the end of the renewable industrial complex (Lykeion)

  • How does the world’s largest hedge fund really make its money? (NYT)

  • Silicon Valley doesn’t understand the concept of fun (Fast Company)

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