Have you ever thought about investing in silver? I thought it was stupid, but then I read this.

• Stocks rallied to near-record highs as Powell signaled upcoming rate cuts at a Jackson Hole speech.

  • The S&P 500 climbed within 1% of its record close on Friday, with all major indexes gaining over 1% for the week.

  • Nvidia's Wednesday earnings report looms large, with Wall Street expecting 109% year-over-year profit growth.

• The PCE price index is set for release on Friday and is expected to show the slowest year-over-year inflation since March 2021.

• The Kroger-Albertsons merger, the largest in US grocery history, is facing FTC court challenges over competition concerns.

• Boeing announced its Starliner will return from the ISS without astronauts, with NASA instead using SpaceX’s Dragon capsule for their February 2025 return.

📈 Trends you need to know

Nvidia has beaten on earnings in each of the last four quarters.

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

Get my free shares →

Ideas, trends, and analysis

• Home insurance affordability stress hit 15% of Australian households, up from 11.6% last year, as climate risks drive premiums higher.

• AI's energy appetite surged 64%, reaching 134 terawatt hours annually by 2027, equivalent to Sweden's electricity usage.

• The Harris campaign raised $40 million since her convention speech, bringing total election efforts to $540 million.

• Former President Donald Trump called for increased legal immigration, citing AI and labor needs.

🌍 Global Perspectives

• 🇵🇸 🇮🇱 Hamas rejected new Israeli conditions in Gaza ceasefire talks, casting doubt on the latest U.S.-backed effort to end the 10-month-old war.

• 🇲🇲 Tens of thousands of Rohingya refugees rallied in Bangladesh camps on the seventh anniversary of their exodus from Myanmar, demanding an end to violence and safe return.

• 🇧🇩 Floods in Bangladesh killed at least 20 people and affected over 5.2 million, prompting urgent calls for humanitarian assistance.

• 🇲🇱 Drone strikes killed at least 21 people, including 11 children, in Mali's northern town of Tinzaouaten, according to Tuareg rebels.

• 🇮🇱 🇱🇧 Israel and Hezbollah exchanged their heaviest fire in months, with Hezbollah claiming to hit an Israeli military intelligence site near Tel Aviv.

• 🇮🇱 Israel's cabinet approved a $923 million expansion in the 2024 state budget to help fund evacuees until the end of the year.

• 🇺🇦 🇮🇳 Ukrainian President Volodymyr Zelenskiy said he would support India hosting a second summit on peace.

📊 Crypto

• Spot Bitcoin ETFs recorded $64.91 million in net inflows on Thursday, marking six consecutive days of positive flows.

• Sony Group unveiled plans for Soneium, an Ethereum Layer-2 network, aiming to bridge Web3 with everyday internet services.

• A US District Judge denied Kraken's motion to dismiss the SEC's lawsuit, allowing the case against the crypto exchange to proceed.

🧠 Errata

• Thousands of redheads gathered in the Netherlands for the annual Redhead Days Festival, celebrating their rare 1-2% of the global population.

• Italian authorities opened a manslaughter probe into a superyacht sinking off Sicily that claimed seven lives.

• Dr. Anthony Fauci caught West Nile virus and was hospitalized.

• Hackers compromised McDonald's Instagram account, conducting a $700,000 rug pull with a fake GRIMACE token.

• The electric-plane future has taken off, with Beta Technologies flying people in a 250-mile range aircraft that's quieter and 40 times cheaper to operate than jet-fueled planes.

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

Cheers,

Wyatt