Hope you enjoyed your day off if you’re in the US, had fun voting if you’re in the UK, or found a way to make yesterday memorable if you’re elsewhere.
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📰 Market Headlines
Wall Street's 'bad news is good news' mantra was in full swing as markets embraced signs of a cooling economy.
The S&P 500 gained 0.51% while the Nasdaq rose 0.88% to fresh record highs, while the Dow slipped 0.06%.
Weak ISM Services PMI and cooling labor market data increased bets for a September rate cut to nearly 70%.
The EU slapped duties of up to 37.6% on China-built EVs in its biggest trade case yet.
Tesla short sellers lost a staggering $3.5 billion in just two days after the company reported better-than-expected Q2 deliveries.
ABC News scheduled their interview with President Biden to air as a primetime special on Friday.
🕶️ Market Vibes
🎰 Market Forecasts and Futures
😱 Fear and Greed Index
🎤 What you said last time
Yeah, it’s Cleveland. Mexico City has the lowest homicide rate of the four options below.
📈 Trends you need to know
The economy is coming for your swimming pool installation business.
🧠 What do you think?
Are you working today?
📊 Stocks
Get $20 free shares at public.com using code ALTSCO.
Winners and losers
Earnings, upgrades, and acquisitions
LiveOne reported FY 2024 revenue up 19% YoY, but missed EPS estimates by 30%; shares slid 2%.
Market movers
Tesla's Model Y was included for the first time on a list of EVs approved for purchase by a Chinese provincial government.
Delta went pasta-only for thousands of international travelers after 'spoiled' food forced a flight to divert.
The FTC revamped its 'Made in USA' guidance with new corporate warnings due to a heightened enforcement push.
Microsoft carried out another round of layoffs across teams and geographies, its third this year so far.
OpenText announced plans to lay off nearly 1,200 employees, around 1.7% of its workforce.
Ideas, trends, and analysis
The pool construction boom has dried up, with just 60,000 in-ground residential pools expected to be built in 2024, down 50% from 2021.
Mortgage rates ticked up to 6.95% this week, the first increase since late May.
Meta's Threads app hit 175 million monthly users on its one-year anniversary.
Volvo Cars' June sales climbed 8% year-over-year to 71,514 vehicles, bolstered by a 41% surge in electric and plug-in hybrid models.
🌍 Global Perspectives
🇯🇲 🇰🇾 🇲🇽 Hurricane Beryl tore through the Caribbean as a Category 3 storm, killing at least 8 people.
🇬🇧 The UK’s Labour Party cruised to a historic victory, unseating the Conservatives.
🇵🇭 🇨🇳 Philippine President Marcos Jr ordered his military to defuse tensions in the South China Sea after a flare-up with China.
🇺🇦 🇷🇺 Ukraine's military intelligence and a pro-Kyiv Russian group claimed responsibility for an April arson attack on a Russian warship in the Baltic Sea.
🇮🇳 121 people, mostly women and children, died in a stampede at a Hindu religious event in India's Uttar Pradesh state.
🇿🇦 South Africa's new coalition government cabinet is set to be sworn in on Wednesday.
🇯🇵 Japan declared victory in its effort to end government use of floppy disks.
📊 Crypto
Bitcoin lost its 200-day trendline for the first time in 10 months as spot selling drove the price below $58,000.
The German government transferred an additional $175 million in Bitcoin, including $75 million to crypto exchanges.
🧠 Errata
A mother in India gave birth on a boat as her river island home was inundated by floodwaters.
A new study found that carpenter ants are the only animals besides humans known to amputate each other's limbs.
The CDC confirmed a 4th human case of bird flu linked to the current dairy cow outbreak.
Europe's most active volcano, Mount Etna, erupted yesterday.
📺 What to Watch Today
And I thought my sparklers were cool.
That’s all for today. Did I miss anything? Smash the reply button to let me know.
Cheers,
Wyatt
