| | | | Turn your playlist
into your portfolio. ♫ | Last year, we gave you early access to JKBX, a new music investing platform that was about to launch. | I'm happy to report that SEC approval has been granted, and you can now invest in songs just like they were stocks. ✅ | | JKBX has an incredible selection of songs you can invest in. Access tracks from Major Lazer, Diplo, James Blunt, and Beyoncé. |
| | What really sets JKBX apart is their selection, which already boasts some seriously impressive names, and seems to get better each month. | Both accredited and non-accredited investors can invest. Every time you hear a song, somebody’s getting paid. That somebody could be you. | Browse all listings, and get on their email list to get notified on new drops. | | PS - You can meet JKBX's CEO Scott Cohen at our investor trip to Nashville! | Visit www.jkbx.com/legal/offering-circulars for important Reg A disclosures. This content is not investment advice, nor is it an offer of securities. All investments involve risk and may result in loss. | | 📰 Market Headlines | | The Fed slashed interest rates by 50 basis points yesterday, marking its first rate cut since 2020. The S&P 500 and Nasdaq both closed down about 0.3% after an initial rally, while the Dow Jones fell 0.25%. The Fed's dot plot projected two more 25 basis point cuts this year. Amazon announced plans to give over 800,000 US employees free Prime memberships and wage increases. California Governor Gavin Newsom signed new laws to curb AI-generated election deepfakes. The Teamsters Union announced they will not endorse either candidate in the 2024 presidential election. | | 🕶️ Market Vibes | 🎰 Market Forecasts and Futures | Forecasts via Kalshi, the prediction market. | | 😱 Fear and Greed Index | | | 🎤 What you said last time | | What you had to say: | “Yeah, he's done all that, but no one is forcing you to buy a Tesla, implant your brain, or take a rocket to the moon. Leave that up to the millionaires to sort it out.” | 📈 Trends you need to know | | The Fed dot plot shows around 1% per year through 2026. |
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| | 🧠 What do you think? | Markets forecast 50bps further rate cuts in 2024. | The Fed will reduce rates a further | | | 📊 Stocks | | | Winners and losers | Earnings, upgrades, and acquisitions | Steelcase beat Q2 earnings estimates; shares tumbled 10.21% after hours. General Mills beat estimates, pushing shares up 0.68%. | Market movers | LinkedIn scraped user data for AI training before updating its terms of service. BlackRock, Microsoft, and MGX launched a $30 billion AI infrastructure fund. MrBeast and Amazon were hit with a lawsuit from "Beast Games" contestants alleging mistreatment and sexual harassment. Fisker reversed its decision to make Ocean owners pay for recall repairs. Cisco laid off 7% of its workforce, affecting over 6,300 jobs. Boeing furloughed thousands as it prepares for an extended strike. | Ideas, trends, and analysis |
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| The average 30-year fixed mortgage rate plunged to 6.15%. US drug overdose deaths declined by 10.6% in the past 12 months. |
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| | | | 🌍 Global Perspectives | | 🇷🇺 🇺🇦 A Ukrainian drone attack triggered an earthquake-sized blast at a major Russian arsenal. 🇵🇱 🇨🇿 🇭🇺 Central European countries raced to build flood defenses as rising waters claimed at least 23 lives. 🇰🇵 Kim Jong Un oversaw new missile tests, pushing for more potent nuclear and conventional weapons. 🇱🇧 🇮🇱 Hezbollah's walkie-talkies exploded across Lebanon, killing 20 and injuring over 450. 🇵🇪 Peru's President Dina Boluarte declared a state of emergency in regions devastated by forest fires that scorched Andean and Amazonian farmlands. 🇭🇹 Haiti's government established a provisional electoral council, a step towards holding the first general elections in a decade. |
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| | 📊 Crypto | | Hemi Labs secured $15 million from Binance to launch an advanced modular blockchain network. Donald Trump unveiled World Liberty Financial, a new cryptocurrency business with its own stablecoin. Ethena Labs temporarily shuttered its frontend website after its domain registrar account was compromised. WisdomTree launched an Ethereum-based platform for tokenized real-world assets called WisdomTree Connect. | |
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| | 🧠 Errata | Astronomers spotted the largest black hole jets ever discovered, stretching 23 million light-years across space. A wagon overturned at a Wisconsin apple orchard, injuring 25 people. A Florida man bagged 20 pythons to win $10,000 in the state's annual Python Challenge, which is aimed at curbing the invasive species. |
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| | 📺 What to Watch Today | | Astronomers discover largest ever black hole jets in distant galaxy | ITV News |
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| That’s all for today. Did I miss anything? Smash the reply button to let me know. | Cheers, | Wyatt |
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