| Argentina has found a clever way to combat the destruction of its rainforests to make room for cattle ranching. |
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| | Adios, Mexico 👋 Next up: Nashville | Here at Alts, our investing journey leads us to some interesting places. One of the ways we explore new investing ideas is through our investor trips. | In February, we did our first trip to Mexico, and it was a huge success. | So this October, we’re doing our second trip: A music-themed investing journey to Nashville 🎶 |  | Join our next investor trip to Nashville, Oct 21-25 |
| This will be an all-inclusive trip of a lifetime. We've got terrific industry speakers joining, including the legendary Scott Cohen, who co-founded The Orchard & sold it to Sony for half a billion dollars (!) | More about Alts investor trips: | | | (Five spots left!) | | 📰 Market Headlines | | Stocks surged as consumer strength propelled markets to fully recover August's losses. The S&P 500 and Nasdaq rallied 1.6% and 2.3%, erasing declines from the month's earlier sell-off. Walmart shares jumped 6% after beating earnings expectations, while July retail sales soared 1%.
A new lawsuit alleged that 2.9 billion Social Security numbers and personal financial data were compromised in a massive breach. President Biden announced that Medicare has negotiated price cuts of up to 79% on top-selling drugs, saving $6 billion in the first year. Kroger announced plans to lower grocery prices by $1 billion after completing its $25 billion merger with Albertsons.
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| | 🕶️ 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: | “Should be fine through 2024. I think in January 2025, the cracks begin to show” | 📈 Trends you need to know | | US retail sales jumped in July, sending markets up but reducing the likelihood of a 50bps rate cut in September. |
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| | 🧠 What do you think? | I think climate change is | | | 📊 Stocks | | | Winners and losers | Earnings, upgrades, and acquisitions | H&R Block beat Q2 expectations; stock soared 5.4% on optimistic full-year guidance. Deere beat Q3 earnings, sending shares higher in pre-market and regular trading hours. Alibaba missed Q2 expectations; shares surprisingly rose 2%. JD.com nearly doubled its profit in Q2; shares climbed 6%.
| Market movers | Lykos Therapeutics cut 75% of its workforce after the FDA rejected its MDMA-based PTSD treatment. Toyota shifted its focus to hybrid-only models as EV demand slowed. CodeRabbit raised $16 million to automate code reviews using AI, claiming 600 paying organizations. X rolled out passkey support for Android users, removing the need for usernames and passwords. Lockheed Martin agreed to acquire satellite maker Terran Orbital for $450 million. Chinese autonomous vehicle company WeRide filed for a US IPO, seeking a valuation of up to $5.02 billion.
| Ideas, trends, and analysis |
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| US retail sales surged 1% in July, the largest increase since January 2023. The 10-year Treasury yield topped 3.9% as strong sales data quelled recession concerns. US corporate bond spreads tightened, with investment grade narrowing by 3 basis points to 105 basis points on positive economic data.
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| |     | | 🌍 Global Perspectives | 🇺🇦 🇷🇺 Ukraine advanced into Russia's Kursk region, establishing control over 1,150 sq km. 🇺🇸 🇧🇷 President Biden and Brazil's President Lula floated the idea of a new election in Venezuela despite resistance from both parties. 🇺🇸 🇩🇪 The US approved a potential $5 billion sale of 600 Patriot missiles to Germany. 🇨🇳 China’s oil stockpiles grew by 280,000 barrels/day in July, despite imports hitting a two-year low. 🇷🇺 🇺🇸 Russia sentenced dual citizen Ksenia Karelina to 12 years for treason after a $51.80 donation to a Ukrainian charity.
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| | 📊 Crypto | | Illicit crypto activity surpassed $2 billion in 2024, with stolen funds up 84% and ransomware up 2%. A key Bitcoin bull signal flashed for the first time in nearly two years, hinting at a potential price surge. BitGo CEO reiterated wBTC's independence from Justin Sun as MakerDAO voted to reduce its exposure
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| | 🧠 Errata | Tinder and Grindr users experienced a brief dating app outage, forcing them to consider face-to-face interactions for two hours. A California billionaire allegedly stole sand from a public beach. A teen on a courtroom field trip ended up in cuffs and jail clothes for falling asleep. A tiny southern pudu fawn debuted at Queens Zoo, weighing just 2 pounds at birth.
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| | 📺 What to Watch Today | Now him, I love. |  | Tiny South American deer debuts at NYC Zoo |
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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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