📈 The bet's off

Israel has pledged to launch unrelenting attacks on Hamas, Bill Ackman has covered his bet against Treasuries. Chevron is set to acquire Hess in a major oil deal, Amazon's new humanoid robot could potentially be a groundbreaking moment for the industry, and Bitcoin soars to $35,000 on optimism surrounding ETFs...

Author

Smart Owl
October 24, 2023

☕️ Good Morning.

The Fast Five → Israel has pledged to launch unrelenting attacks on Hamas, Bill Ackman has covered his bet against Treasuries. Chevron is set to acquire Hess in a major oil deal, Amazon's new humanoid robot could potentially be a groundbreaking moment for the industry, and Bitcoin soars to $35,000 on optimism surrounding ETFs...

Here is your 5-minute briefing for Tuesday:

BEFORE THE OPEN

As of market close 10/23/2023.

MARKETS:

  • Stock futures have risen slightly in anticipation of upcoming earnings reports from tech companies.

  • The session on Wall Street was mixed as investors continued to focus on the 10-year Treasury yield.

  • On Monday, the Dow and S&P 500 experienced a decline of 0. 6% and 0. 2% respectively, while the Nasdaq saw an increase of 0. 3%.

  • Spotify, General Motors, and Coca-Cola will report their earnings before the market opens, while Alphabet and Microsoft will report their earnings after the market closes.

  • Investors will be closely monitoring Meta's reporting on Wednesday, followed by Amazon on Thursday. IBM and Intel are scheduled to report later in the week.

  • Around 30% of S&P 500 companies are expected to report their earnings this week.

  • So far, the earnings season has generally exceeded the expectations of Wall Street.

  • Today, we can expect economic data on both the services and manufacturing sectors.

EARNINGS

Here's what we're watching this week:

NEWS BRIEFING

The hedge fund manager believes that investors may increasingly turn to bonds as a safe haven due to the growing geopolitical risks. Ackman also mentioned that he decided to remove the short position due to concerns about the economy.

Anticipation for a Bitcoin ETF grew after the court sided with Grayscale over the U. S. SEC in its bid to convert its substantial GBTC Bitcoin fund into an ETF.

  • The ten-year U. S. Treasury yield has reached 5%. (read more)

  • The Republican search for a new US House leader has returned to square one. (read more)

  • Tesla has confirmed that the Department of Justice (DOJ) is investigating potential violations related to personal benefits and vehicle range. (read more)

  • Retail credit card rates have reached a record high. (read more)

  • Bill Ackman has covered his bet against Treasurys, stating that there is "too much risk in the world" to continue betting against bonds. (read more)

  • Goldman Sachs economists are expecting a slowdown in US home-price growth for the upcoming year. (read more)

  • BlackRock warns of stagnation in US earnings but remains bullish on AI and Japan. (read more)

  • Chevron is set to acquire Hess in a massive oil megadeal worth $53 billion. (read more)

  • VCs Marc Andreessen and John Doerr are among the attendees at Schumer's upcoming AI forum. (read more)

  • In this article, it is highlighted that Micron is defying the China ban and is currently in the process of constructing the largest chip fabrication facility ever built in the United States. (read more)

  • Amazon's introduction of humanoid robot pilots could mark a significant turning point for the industry. (read more)

  • Caught by surprise in the generative AI boom, Apple plans to spend $1 billion per year to catch up. (read more)

  • Apple's job listings suggest that it plans to incorporate AI into multiple products. (read more)

  • The oil giant quietly abandoned the world's largest carbon capture plant. (read more)

  • Halloween chocolate is more expensive this year due to the soaring price of cocoa, which has reached its highest point in 44 years. (read more)

CRYPTO

  • Michael Saylor's $4.7 billion Bitcoin bet is now back in the green. (read more)

  • The history of Bitcoin supports the bulls following a 10% weekly jump fueled by ETF speculation. (read more)

  • Lawyers predict that the SEC has a 3% to 14% chance of success in its appeal against Ripple. (read more)

  • The IRS has proposed an unprecedented data-collection effort targeting crypto users. (read more)

BULLISH BITES

💰 Money managers with $100 trillion are starting to confront the end of the bull market.

☎️ Telephone calls are transitioning to an "appointment only" system.

🤖  Moody's has recently implemented generative AI technology to create its reports.

☕️ Order a Starbucks latte with the push of a button on your iPhone.

🎨 Now, anyone can create amazing content like a professional with Canva - try it for free!

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