|  | *past 24-hour performance |
| Upcoming Week: | Wednesday: Investors will get a look at the health of the services industry by way of the ISM Services PMI for August. The Fed will also issue its latest Beige Book – an overview of the U.S. economy thats published only eight times a year Thursday: The Labor Department will report how many Americans filed for unemployment benefits. Investors will also get an update on labor market productivity, with the Nonfarm Labor Productivity report
| Earnings Calendar | Tuesday: Zscaler (ZS), Tower Semiconductor (TSEM), GitLab (GTLB), HealthEquity (HQY), & Asana (ASAN) Wednesday: UiPath (PATH), C3 AI (AI), Gamestop (GME), Sprinklr (CXM) & American Eagle Outfitters (AEO) Thursday: The Toro Company (TTC), DocuSign (DOCU), Restoration Hardware (RH), Smartsheet (SMAR), Braze (BRZE), & John Wiley & Sons (WLY) Friday: Kroger Company (KR)
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| | Less likely recession: Goldman Sachs now sees a 15% chance the US will slide into recession, down from 20% previously as cooling inflation and a still-resilient labor market suggest the Fed may not need to raise interest rates any further (Reuters)
Landmark grain deal denied: Vladimir Putin said Russia won’t rejoin a deal enabling Ukrainian grain to be shipped globally until the West meets its demands to facilitate Russian agricultural exports (AP)
Robinhood buyback: Robinhood (HOOD) has bought back $605.7 million of company stock that had been controlled by Sam Bankman-Fried and was caught up in a contentious ownership fight (Fortune)
No precedent for deficits this large: The federal deficit is projected to roughly double this year, as bigger interest payments and lower tax receipts widen the nation’s spending imbalance despite robust overall economic growth (WP)
Pharma deal to go through: The FTC says it has agreed to end its legal challenge of drugmaker Amgen’s (AMGN) $27.8 billion deal to buy Horizon Therapeutics (HZNP), averting a trial that was to have started this month (WSJ)
Walmart triples down on India: Walmart (WMT) has paid $3.5B to increase its stake in e-commerce platform Flipkart, which has now reached 80% (Silicon Angle)
What’s the point of US sanctions?: Huawei and China’s top chipmaker have built an advanced 7nm processor to power its latest smartphone, a sign Beijing is making early progress in a nationwide push to circumvent US efforts to contain its ascent (X)
| | Six AI Themes to consider: The takes on AI have ranged from “this is all hype and there’s nothing here” to “it’s going to kill us all in five years and take over the world”. Unsurprisingly, Lyn Alden falls somewhere between those two extremes. Read more » | BTC ETF investment musings: Let’s just go ahead and say that this ETF does get approved soon. If so, what would actually happen to bitcoin? Read more » | Dollar Cost Averaging in a bear market wins again: Dollar cost averaging is far from the perfect investment strategy. The good news is you don’t need to be perfect to find investment success. You just have to be consistent. Read more » |
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| | Labor Day labor market reflections (Marty Bent) Think you saw a UFO? The Pentagon wants to hear from you (AARO) Radioactive wild boar roam central Europe (ZeroHedge) OnlyFans Owner Leonid Radvinsky received over $338m in dividends last year (People) Will the AirBnB bubble pop the housing bubble? (Of Two Minds) Following Elon Musk’s lead, big tech is surrendering to disinformation (Washington Post) America is draining its groundwater like there’s no tomorrow (NYT)
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| |  | Brian Feroldi (🧠,📈) @BrianFeroldi |  |
| Visuals like paint a compelling picture for only investing in companies with happy employees: |  | | | Aug 29, 2023 | | |  | | | 440 Likes 68 Retweets 18 Replies |
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