Financial Mews

/financialnews20

Round the clock curated financial markets and world economy news that shape our lives. Your daily dose of finance & economy news and gossip from Bloomberg, FT, X and more. Save on those subscriptions and subscribe here :)

11244

BFG 🎩↑🌱

@bfg·

Apple (APPL) is still keeping the title "The Most Valuable Company" with $3.5T- but Nvidia is coming close with $3.2T🤓

I'm sure you've noticed that Trump Media shares price has doubled ... traders appear to be using the startup shares as an election gambling proxy 🙄 might not be bad strategy ...

little shakeup in our little European markets corner 🤓

I'm sure you haven't missed the BTC wild trading day start 🤩 we'll see what comes out of it 🤓

Here we are - Stables run the world soon 🔜
https://x.com/watcherguru/status/1846149651407237583?s=46&t=vGdL6gMJv0qcvymUV8209g

For fans of Nvidia - new ATH clocked 🔝
https://x.com/schuldensuehner/status/1845961048873906567?s=46&t=vGdL6gMJv0qcvymUV8209g

Almost missed that Bhutan accumulated $780M in Bitcoin through renewable energy mining 🤩 That's how it's done - don't talk, act! 🖖
https://www.forbes.com/sites/digital-assets/2024/09/17/how-bhutan-quietly-built-750-million-in-bitcoin-holdings/
https://www.forbes.com/sites/iainmartin/2023/04/30/bhutan-bitcoin-mining-crypto/

Most interesting and influential datapoints in the week ahead for the global economy include:

- US retail sales and industrial production data
- Eurozone inflation and IP
- China's GDP and trade data
- lots of corporate earnings

Watch out for China and the US 👀

Everyone sold 🤔

Turns out only everyone who thought Tesla robotaxi will be available from Oct20 and expected pre-orders now 😂

This means a lot … but never has timeline attached to it so be careful 👀

Trump has just received the biggest “buy” signal 🤷‍♂️ awf
https://x.com/watcherguru/status/1844867937280118811?s=46&t=vGdL6gMJv0qcvymUV8209g

Japanese shorts just made a killing this week 👀
https://x.com/barchart/status/1844945152059842972?s=46&t=vGdL6gMJv0qcvymUV8209g

Markets slightly lowered, BTC ticked below $60k yesterday but is back up today so I wouldn't stress about it.

If you are into trading and can - you should probably buy volatility now - cos it will eventually surge! 😉

Sept CPI in US was slightly higher but nothing dramatic … and unemployment came on higher which is a sign for FED to keep going 😉

https://x.com/schuldensuehner/status/1844396657368252472?s=46&t=vGdL6gMJv0qcvymUV8209g

Boeing is still in the rut ... 😬

Not only S&P Global Ratings estimates of strike costs around more than $1 billion a month, but they put Boeing’s credit rating on watch for a possible downgrade. Big big problem ...
S&P also estimates Boeing will burn through $10 billion in cash this year because of a manufacturing overhaul and the strike.

At the same time, Boeing is thinking about raising at least $10 billion by issuing new shares, said Bloomberg. Investors widely expect an equity raising by Boeing.

Does this look familiar memecoin traders? 👀

(Unfortunately affects more people than memecoins 😢)
https://x.com/globalmktobserv/status/1843943739712295380?s=46&t=vGdL6gMJv0qcvymUV8209g

Gold is still climbing higher 🧐 and I wait for digital gold to catch up 👀
(h/t BR and Bloomberg)

Point in China is - China is not saving the economy (nobody does these days)

China is saving the stock and real-estate markets as proxies to people’s wealth

Adam describes it very well, if you’re into details 👇
https://x.com/adamkwolfe/status/1843289262986543191?s=46&t=vGdL6gMJv0qcvymUV8209g

Big week ahead of the US markets;

Tue:
- EIA Short-Term Energy Outlook

Wed:
- Fed Meeting Minutes

Thu:
- September CPI Inflation data
- Initial Jobless Claims data

Fri:
September PPI Inflation data

+ many Fed speaker events this week

Fully green Friday

The S&P 500 closed the week above 5,750 and now trades up 21.2% in 2024.

Wow 🤩

FED will cut less (I think they’d do it anyway) - but these numbers are good excuse to go 0.25 points in Oct.
https://x.com/schuldensuehner/status/1842190149368557895?s=46&t=vGdL6gMJv0qcvymUV8209g

This is what a broken market looks like 🤷‍♂️ you make your own conclusions 👀

but don’t trust any historic parallels - they’re not valid anymore ⛔️

Current situation:

1. Stocks are rising like we have avoided a recession

2. Gold prices are rising like we are heading into a recession

3. Oil prices are rising like we are heading toward WW3

4. Bond prices are falling like geopolitical tensions are easing

5. Crypto is falling like risk appetite has disappeared

6. Tech stocks are rising like risk appetite is at all time highs.

(h/t Kobeissi Letters)

And they thought it can never be done🤠

But China went from the worst performing market of 2024 to the best performing one in 15 days = rewriting financial markets history🤯

Not sure if this is good or bad … but it’s a sign 👀 so watch out 👀

Since the beginning of the year, net long positioning has more than DOUBLED.

This is also twice as high as during the previous peaks seen in early 2018 and 2020.

Meanwhile, US households' stock allocation as a percentage of financial assets hit a new record of 41.8% in Q2 2024.

Investors are all-in on stocks.

PSA: Over 50,000 port workers across the United States are now on strike for the first time since 1977.

These ports handle nearly 40% of ALL US imports and it could cost the US up to $5 billion PER DAY.

What it means
-> port workers want more money, think BOEING like negotiation
-> port owners will have to give them the money now but will speed up automation on all fronts
-> the longer the negotiations take, the more everyone suffers - but mostly owners pay the dues for this now

Likely outcome
-> when this new contract will end in 6 years time, there will be 50-70% less port workers needed than now = no more negotiations

Watch out for your food and Temu supplies 😇

/Financial Mews