| *past 24-hour performance |
| | Snapchat rallies on rumor: Snap (SNAP) shares jumped 11% after a media report said the company is expected to have more than 475m daily active users (DAUs) in 2024, above Wall Street expectations (Reuters)
Miscalculated mess: Now that the federal student loan machinery has been set back into motion, hundreds of thousands of borrowers are discovering that their monthly payments had been miscalculated (NYT)
Fake bitcoin news: Bitcoin (BTC) surged from $27,900 to $30,000 after a false report of a spot ETF approval was posted on X, leading to nearly $100 million in liquidations (Coindesk)
Schwab has a mixed day: Despite reporting a 16% drop in revenue, shares of the U.S. brokerage firm surged 5.4%, their best day in nearly three months, after Schwab reported a 17% rise in fees due to robust inflows into its many funds (Reuters)
America’s interest bill is skyrocketing: An upward shift in long-term interest rates is putting the government on track to spend more on interest payments in the coming years than was anticipated just a few months ago (Axios)
"A burning platform": Rolls-Royce Holdings (RR) is set to axe about 2,500 staff as part of a cost-cutting drive by its new CEO (Sky News)
LinkedIn layoffs: LinkedIn plans to lay off more than 660 people across its engineering, product, talent and finance teams, it announced Monday, representing more than 3% of the company's global workforce (Axios)
Inclusion jump: Lululemon's (LULU) stock jumped by more than 10% to an almost two-year high on Monday buoyed by the addition of the Canadian sportswear maker into the Wall Street benchmark S&P 500 index (Reuters) | | | | Mm-hmm, sure. So, what’s the catch? | We know it may sound too good to be true. But thousands of investors are already smiling all the way to the bank, thanks to the fine-art investing platform Masterworks. | These results aren’t cherry-picking. This is the whole bushel. Masterworks has built a track record of 16 exits, including net returns of +10.4%, +27.3%, and +35.0%, even while financial markets plummeted. | But art? Really? Okay, skeptics, here are the numbers. Contemporary art prices: | Outpaced the S&P 500 by 131% over the last 26 years Have the lowest correlation to equities of any asset class Remained stable through the dot-com bubble and ’08 crisis | Got your attention yet? Stocks and Income readers can skip the waitlist with this exclusive link. | |
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| | Is it a good time to cash in your I bonds? In 2022, a spike in inflation made normally staid Series I savings bonds almost as popular as tickets to Taylor Swift’s Eras tour. Ever since, rates have come back down to earth. But I bonds may still provide some benefits for long-term investors. Read more » | How to take advance of your Health Savings Account (HSA): Insurance plans with high deductibles may seem unappealing, but the savings accounts that often come with them offer significant tax benefits. Read more » |
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| | Sports are a bright spot in a bad year for M&A (Wealth Management) How the US is becoming increasingly involved in the Israel-Hamas war (Semafor) We're not ready for the Big One (Noahpinion) Sweetgreen is using "kale-shooting robots" to speed up service (WSJ) Bank of America’s balance sheet will be all the talk after earnings come out (Barron’s) | | | | | If you're concerned about the direction of the US economy… | You need to see this guide on how to diversify and protect your retirement savings. In it, you’ll learn how to protect yourself from surging National Debt... a weakening U.S. Dollar... stock market downturns... and much more. Get your guide here. | SPONSOR |
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| | | The Kobeissi Letter @KobeissiLetter | |
| Bankruptcies in 2023 are at the same levels seen in 2020 and the highest YTD total since 2010. However, bankruptcies have been largely concentrated to Consumer, Health Care and Industrial companies. ~64% of all bankruptcies in 2023 have been in one of those three sectors. This… twitter.com/i/web/status/1… | | | | Oct 15, 2023 | | | | | | 1.26K Likes 283 Retweets 55 Replies |
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