- Stocks & Income
- Posts
- Soft jobs data
Soft jobs data
*past 24-hour performance
💨 TL;DR
Jobs data came in soft
The first rate cut may come in March 2024.
Bitcoin hits a 19-month high
A massive lithium discovery in California
Take advantage of the upcoming supply and demand imbalance in Texas
Did you know that:
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📰 Market Headlines
Tech stocks held onto earlier gains, powered by a four-month high for Apple, to close 0.28% higher on the session at 14,255.21 points. The S&P 500, meanwhile, was essentially flat at 4,566.07 points, down just 0.06% for the day, while the Dow closed 80 points lower at 36,124.26 points.
In Jobs data, the number of open positions in October fell to an 18-month low of 8.7 million, removing a significant level of wage pressures from near-term inflation forecasts.
Traders are betting the Fed will make its first rate cut in March, around nine months after its last increase in July.
Southern California's Salton Sea contains enough lithium to meet the nation's needs for decades. It has the potential to produce an estimated 375 million lithium batteries for electric vehicles — more than the total number of vehicles currently on US roads. The rare(ish) metal was down 4.6% on the news and is off 82% for the year.
Asia’s first exchange-traded fund investing solely in Saudi Arabia’s equities market has listed on the Hong Kong exchange, attracting $1bn in initial investment.
🕶️ Market Vibes
🎰 Market Forecasts and Futures
End-of-year forecasts
Macro forecasts
3.87% 3.36% 177,156 | 1% chance 1.4% |
😱 Fear and Greed Index
🧠 What do you think?
Will your next vehicle purchase be an electric vehicle?Why or why not? |
🎤 What you said last time
This a fairly apathetic response to yesterday’s poll, but ya’ll have a slight bias toward greed (god bless you).
📊 Stocks
Want to invest like Buffet? With Public.com, you can emulate Berkshire Hathaway’s portfolio with just a few clicks.
Winners and losers
America’s Car-Mart delivered both earnings and guidance that were much worse than expected, citing allowances for future customer defaults. Shares sank 26%.
Procter & Gamble Co. (P&G) will take up to $2.5 billion in charges for restructuring, along with an impairment related to its Gillette acquisition 18 years ago.
Rio Tinto is investing $6.2 billion into a Guinean iron ore plant.
The FTC is investigating Exxon Mobil’s planned $60 billion acquisition of Pioneer Natural Resources.
British American Tobacco said it would take a hit of around $31.5 billion as it writes down the value of some U.S. cigarette brands
IBM and Meta have formed an AI Alliance. I hope they get costumes.
Ideas and analysis
We mentioned above that Lithium is down 82% for the year. Here are three stocks that might turn a profit anyway.
Nvidia and Microsoft CEOs say industrial companies will benefit most from AI. Here are a few stocks to put on your watch list if you agree.
Three stocks to play the cybersecurity boom.
📊 Income
Want to party like it’s 2007? Check out public.com’s bond ETF portfolio designed to offer exposure to mortgage-backed securities (MBS) and other securitized debt.
One dividend expert is looking closely at AT&T and Verizon.
Two funds yielding up to 14% today.
📊 Crypto
Bitcoin topped $44k for the first time in over 19 months today. The catalyst is a growing belief that a BTC ETF will be approved in January 2024. The ETF will attract significant capital inflow from institutional investors, increasing demand for the supply-constrained coin.
🌍 Global Perspectives
🇨🇳 Young Chinese consumers are feeling the pinch as much as their American counterparts.
🇬🇾 🇻🇪 Subsequent to the questionable vote to appropriate two-thirds of Guyana, Venezuelan President Nicolás Maduro is asking the country’s state-owned companies to “immediately” begin to explore and exploit the oil, gas and mines in Guyana’s Essequibo region.
🇬🇧 The UK’s economy is in real trouble.
🇨🇳 🇮🇳 Apple is looking to move battery purchases to India, snubbing China.
🇦🇷 Javier “El Loco” Milei, Argentinian-president elect, pledged to kill the central bank, cut ties with China and slash public spending. He’s backpedaling now he’s won.
💎 Wealth Watch
What is liquid net worth, and why is it so important?
The US Supreme Court is hearing a case that could nix wealth tax.
How some homebuyers are getting 5% mortgages today.
Saving vs Investing when rates are high and inflation is coming down.
🗳️ Outside the Box
$3 billion in funding has been approved to build a high-speed rail line between Los Angeles and Las Vegas.
Why did FSU get snubbed?
A San Francisco home purchased for $20 million three years ago just sold for half that.
COP28 will leave behind the largest carbon footprint in the climate conference’s history,
📺 What to Watch Today
Private AI is the application of artificial intelligence (AI) technologies in a manner that prioritizes and ensures the privacy of user data. This concept has gained significant importance due to increasing concerns over data privacy and the ethical use of AI.
That’s all for today. Did we miss anything? Smash the reply button to let us know.
Cheers,
Wyatt
Notes
Please read this disclaimer. The authors of Alt Assets, Inc. are not attorneys, investment advisers, accountants, tax professionals or financial advisers and any of the content should not be taken as professional advice. They are self-taught accredited investors, sharing information, research, entertainment and lessons learned based solely on their own experience and circumstances. Individual results may vary. The published content is unique, based on certain assumptions and market conditions at the time of publishing, and is intended to serve solely as research, not financial advice. For entertainment purposes only. Not investment advice. Alts I LLC (the “Fund”) is an affiliate of Alt Assets, Inc. and the Fund has conducted a private placement offering under Rule 506(c) of Regulation D of the Securities Act of 1933, as amended. The Fund may invest in one, several, or all of the alternative asset classes that Alt Assets, Inc. publishes content about on its site. Any of the Fund’s investments that have positive designations on the Alt Assets, Inc. site are purely coincidental, as the Fund is actively managed and guided by its own investment parameters, as summarized in the relevant private placement memorandum. Alternative investing involves a high degree of risk, including complete loss of principal and is not suitable for all investors. Past performance does not guarantee future results. The newsletter may contain affiliate links, meaning that Alts.co and its associated entities may receive compensation for referring customers to the noted companies. We recommend seeking the advice of a financial professional before you make any investment in an alternative asset class or any associated entities, and we accept no liability whatsoever for any loss or damage you may incur.
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