Stocks & Income - Sep 16 - #162

Stefan and I are headed to Nashville next month. Find out why.

Turn your playlist
into your portfolio. ♫

Last year, we gave you early access to ​JKBX​, a new music investing platform that was about to launch.

I'm happy to report that SEC approval has been granted, and you can now invest in songs just like they were stocks. ✅

JKBX has an incredible selection of songs you can invest in. Access tracks from Major Lazer, Diplo, James Blunt, and Beyoncé.

What really sets JKBX apart is their selection, which already boasts some ​seriously impressive names​, and seems to get better each month.

Both accredited and non-accredited investors can invest. Every time you hear a song, somebody’s getting paid. That somebody could be you.

​Browse all listings​, and get on their email list to get notified on new drops.

PS - You can meet JKBX's CEO Scott Cohen at our ​investor trip to Nashville​!

Visit ​www.jkbx.com/legal/offering-circulars​ for important Reg A disclosures. This content is not investment advice, nor is it an offer of securities. All investments involve risk and may result in loss.

📰 Market Headlines

  • Wall Street bet big on rate cuts as stocks notched their best week of 2024 ahead of a pivotal Fed meeting.

    • The Nasdaq and S&P 500 had their best week of the year, rising 6% and 4% respectively, with five straight days of gains.

    • Expectations for a larger 50 basis point rate cut surged last week, with odds jumping from 28% to 49% by Friday afternoon.

  • The UAE confirmed it will not resume talks with the US on F-35 fighter jets, citing unchanged concerns from 2021 regarding technical issues.

  • Trump Media jumped 11.8% after Former President Donald Trump announced he would not sell shares when the lockup provision expires.

  • TikTok challenged a potential ban in a Washington, D.C., court over a US law requiring ByteDance to divest ownership.

  • Another lunatic tried to kill Donald Trump.

Helpfully, Elon took a moment to lower the temperature.

🕶️ 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:

“Always growing pains with new tech. When the printing press was created there was panic at the rate of being able to spread (dis)information”

📈 Trends you need to know

Coffee is more popular than wine everywhere except Argentina, Nigeria, and Western Europe.

🧠 What do you think?

📊 Stocks

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

Winners and losers

Earnings, upgrades, and acquisitions

Another week of earnings. Here’s who on the docket:

  • Monday: No notable earnings

  • Tuesday: Ferguson Enterprises (FERG)

  • Wednesday: General Mills (GIS), Steelcase (SCS)

  • Thursday: FedEx (FDX), Lennar (LEN), Darden Restaurants (DRI), FactSet Research (FDS), Cracker Barrel (CBRL), Endava (DAVA), MillerKnoll (MLKN)

Market movers

  • Alcoa sold its 25.1% stake in Ma'aden joint venture for $1.1 billion.

  • Disney and DirecTV reached a deal, restoring programming for 11 million satellite subscribers.

  • Jeep launched a plan to reverse five years of US sales declines, aiming for 1 million sales by 2027.

  • OpenAI introduced its o1 model, displaying better reasoning and fact-checking.

  • World Labs secured $230 million in funding, reaching a $1 billion+ valuation.

  • Y Combinator announced its expansion to four annual cohorts in 2025.

Ideas, trends, and analysis

  • US consumer sentiment hit a four-month high in September as inflation eased and incomes rose.

  • The prospect of steeper Fed rate cuts boosted stocks and drove gold prices to record highs.

  • Following Hurricane Francine, nearly 20% of crude oil production and 28% of natural gas output in the US Gulf of Mexico remain offline.

Recommended Newsletter

🌍 Global Perspectives

  1. 🇺🇦 A Russian bomb struck a Kharkiv apartment building, killing one and injuring 42.

  2. 🇧🇩 🇺🇸 The US pledged an additional $202 million in aid to Bangladesh.

  3. 🇨🇳 🇺🇸 China freed American pastor David Lin after nearly 20 years in prison.

  4. 🇨🇳 Shanghai canceled hundreds of flights as Typhoon Bebinca approaches the city.

  5. 🇩🇪 🇺🇿 Germany signed a migration agreement with Uzbekistan to enable skilled worker immigration and immigrant returns.

  6. 🇮🇱 🇾🇪 A Houthi missile reached central Israel for the first time, traveling 2,040 km in 11.5 minutes.

📊 Crypto

  • MicroStrategy acquired 18,300 Bitcoin for $1.1 billion, boosting its total to 244,800.

  • Coinbase’s new cbBTC-wrapped Bitcoin product hit a $100 million market cap within 24 hours.

  • Stablecoin issuers froze $5 million tied to North Korea's Lazarus Group after blockchain investigator ZachXBT's findings.

  • Former FTX CEO Sam Bankman-Fried filed an appeal for a new trial, citing bias and blocked evidence.

🧠 Errata

  • Earth is set to temporarily gain a new mini-moon, a 33-foot asteroid looping the planet from Sept. 29 to Nov. 25.

  • Asteroid 2024 RN16 sped past Earth at 104,761 km/h, missing by 4.4 lunar distances.

  • A billionaire and his crew returned from a five-day mission, flying higher than any NASA moonwalkers.

📺 What to Watch Today

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

Cheers,

Wyatt

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