 | *past 24-hour performance |
| | No signs of housing market relief: Mortgage rates rose to a nearly 23-year high, as the average rate on the standard 30-year fixed mortgage jumped to 7.31%, another sign that the housing market will continue to be stuck in the doldrums (WSJ)
GDP slips a notch: The U.S. economy grew at a 2.1% annual pace from April through June, compared to a 2.2% annual growth from January through March, extending its sturdy performance in the face of higher interest rates (AP)
Nvidia antitrust raid: Nvidia’s (NVDA) French offices were raided by France’s antitrust authority over concerns that the company is engaged in anticompetitive behavior (WSJ) The “iPhone of AI”: Apple’s (AAPL) former chief design officer, Jony Ive, is reportedly in discussions with OpenAI to build the “iPhone of artificial intelligence,” aided by over $1 billion in funding from Softbank CEO Masayoshi Son (Verge)
Easing the tension? Beijing and Washington are paving the way for Chinese leader Xi Jinping to visit the U.S., moving ahead with high-level official exchanges and taking other steps to improve the tone of their turbulent relations (WSJ)
Hanging on to the clunkers: CarMax (KMX) was the worst performing stock in the S&P 500 yesterday, falling 13.4%, after the used-car retailer said revenue fell 13.1% from a year earlier in its quarter ended Aug. 31, while net income fell 6% (WSJ)
Billion-dollar IPO dance: Cainiao Smart Logistics Network is the first of Alibaba’s six spin-off companies to test the appetite for new listings, applying to raise at least $1 billion in what is widely expected to be the world’s second-largest IPO this year (SCMP)
Epic Games to cut nearly 900 jobs: Fortnite maker Epic Games announced deep cuts today, roughly 16% of its workforce, citing a slowdown in the popularity of its marquee game, as layoffs continue in the games industry despite market growth (Axios)
Pentagon picks Elon: The Pentagon has awarded Elon Musk’s SpaceX its first confirmed contract for the Starshield network it’s developing, a military-specific version of the company’s Starlink satellite internet system (CNBC)
Engine fires: Hyundai and Kia are recalling a combined 3.37 million vehicles in the US due to the risk of engine fires, telling owners to park outside and away from structures until repairs are complete (Reuters)
Banking green: A landmark federal bill that would protect banks that work with cannabis companies appears headed to the Senate floor after passing out of committee on Wednesday (Axios)
HSBC to acquire Citi’s assets: HSBC (HSBC) is set to acquire Citigroup's (C) China consumer wealth management business, which manages over $3B in assets, as part of the bank's expansion in China (Reuters)
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| | The great malaise: There is no doubt about it: We will get our recession. The question is: Will it be the first recession with higher interest rates? Read more » | Which US regions have the highest inflation rates? Various macroeconomic factors such as overall cost of living and housing markets — particularly in areas where people are migrating in greater numbers — can impact how much people in different cities pay for things. Read more » |
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| | What if you’re wrong about BTC? (CoinSnacks) The second Republican debate (Tangle) Should Autoworkers Fear Electric Cars? (Slate) Ok the metaverse is officially real (Twitter) Silver’s Bull Market Vengeance (Gold Playbook)
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| |  | Charlie Bilello @charliebilello |  |
| Average US family health insurance premium...
2000: $6k
2002: $8k
2004: $10k
2006: $11k
2008: $13k
2010: $14k
2012: $16k
2014: $17k
2016: $18k
2018: $20k
2020: $21k
2022: $22k That's a 249% increase since 2000 (5.8% per year). (Note: US CPI inflation has increased 2.5%/year) |  | | | Sep 28, 2023 | | |  | | | 3.78K Likes 1.3K Retweets 443 Replies |
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| | | Thunderclap Research is a professional investment research firm focused on understanding and profiting from market anomalies. | We take both a quantitative and qualitative approach to research and focus extensively on strategies for established money managers and everyday retail investors. | We are a small, self-funded team of real humans going up against the hype-filled, sensational news outlets in the world. You can check out a selection of our other publications below. | | CoinSnacks Digestible crypto news. | | Subscribe |
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