In today’s recap, Marcello talks about Bitcoin surging past $100,000 for the first time, driven by optimism about President-elect Donald Trump creating a regulatory environment that supports cryptocurrencies. U.S. stock markets reached record highs this week as better than expected tech earnings boosted investor confidence, with companies highlighting the impact of artificial intelligence on their results. Meanwhile, Syria has officially fallen, and President Assad has been granted asylum in Russia. In response, Israel has launched strikes targeting military bases, defense systems, and government facilities, leaving critical infrastructure in ruins.

Bitcoin rose above $100,000 for the 1st time on Thursday rising over 4% to over $103K, as the election of Republican Trump as president of the United States spurred expectations that his administration will create a friendly regulatory environment for cryptocurrencies. Bitcoin has more than doubled in value this year & is up about 35% in the 4 weeks since Trump’s sweeping election victory, which also saw a slew of pro-crypto lawmakers being elected to Congress.
Stellantis, the world’s fourth-largest carmaker headquartered in the Netherlands, saw its shares tumble 6.29% on Monday to $12.37 following the unexpected resignation of CEO Carlos Tavares. The company cited “increasingly different views” between Tavares and the board of directors as the reason for his abrupt departure, which was accepted on Sunday and took effect immediately. Stellantis stock has faced a challenging year, down 20.80% over the past three months, 45.39% year-to-date, and 43.50% year-over-year, leaving the company with a market capitalization of $37.21 billion.
The manufacturing sectors in both the EU and UK continued to show signs of weakness in November, reflecting broader economic challenges. The Eurozone manufacturing PMI highlighted an accelerated decline in new factory orders, production, purchasing activity, and inventories. Employment in the sector also suffered, posting its sharpest drop since August 2020, with Germany and Austria experiencing the most significant job losses.
South Korean opposition lawmakers said on Thursday they would vote this weekend to impeach President Yoon Suk Yeol for his botched attempt to impose martial law & police said they were investigating claims of treason against him & top ministers. Yoon’s declaration of martial law late on Tuesday, sought to consolidate power, ban political activity & censor the media. It sparked outrage in the streets & concern among South Korea’s international allies. The defense minister, who recommended the move, has resigned.
Oil prices fell over -1% Friday & cemented weekly losses, as analysts projected a supply surplus next year on weak demand despite an OPEC+ decision to delay output hikes & extend deep production cuts to the end of 2026. A rising number oil & gas rigs deployed in the U.S. this week, pointing to rising production from the world’s biggest crude producer, also pushed prices lower. Energy Services firm Baker Hughes said oil rigs rose by 5 to 482 this week, highest level since mid-Oct, while gas rigs rose by 2 to 102, highest since early Nov, growing for the 1st time in 8 weeks. U.S. West Texas Intermediate January futures fell -1.61% at $67.20 per barrel.

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In today’s recap, Marcello talks about coffee prices hitting their highest levels since 1977, driven by record-breaking droughts in Brazil and Vietnam. U.S. stock markets had their best month of the year in November, capped by a Thanksgiving holiday break. Meanwhile, Germany has made headlines with a stark warning to corporations to “prepare for war,” adding a dramatic geopolitical twist to an already eventful week.

U.S. stock markets posted their biggest monthly gains this year in November, as chip stocks rallied on Friday, after it was reported that the outgoing Biden administration was considering additional barriers on the sale of semiconductor equipment to China, that weren’t as strong as previously expected. The S&P 500 & Dow rose modestly to close at records in a holiday-shortened session. Dow +0.42% (+188.59) at 44,910.65, at a new intraday high. S&P 500 +0.56% (+33.64) at 6,032.38, a new all time high. NASDAQ +0.83% (+157.69) at 19,218.17.
India’s economy is forecast to expand by +6.5% in its 2nd fiscal quarter, according to economists. Should the figure prove accurate, the country would see its slowest year-on-year quarterly growth since the quarter ended March 2023. India’s economy had expanded by +6.7% in the 1st fiscal quarter. The +6.5% estimate is below the Reserve Bank of India’s forecast of +7% made in October. Agriculture makes up over +18% of India’s GDP.
The U.S. PC maker Dell Technologies shares -12.25% on Wednesday at $124.30, after the firm reported a revenue miss & forecast Q4 revenue & earnings below analyst expectations. Dell came in at $24.37B in revenue for the quarter, a/y/y increase of +9.5%. EPS of $2.15 vs $1.88 a year ago. The reported revenue represents a surprise of -0.79% over the analyst estimate of $24.56B. With the consensus EPS estimate being $2.06, a surprise hike +4.37%. Before Tuesday evening’s earnings report, investors saw the firm as one of the most important companies selling tools & systems for artificial intelligence developers.

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In today’s Recap, Marcello talks about how Donald Trump has returned to the White House, ushering in a new era as Republicans secure control of both the Senate and House. His early actions include accepting a call from Vladimir Putin to discuss ending the war in Ukraine, while Qatar orders Hamas officials to leave the country. Meanwhile, the United States faces an unprecedented drought crisis, impacting nearly all states, over 150 million people, and 318 million acres of crops after a record-breaking summer heatwave. On a brighter note, Bitcoin has exploded to a historic high of $93,445, surpassing silver to become the world’s 8th largest asset.

Republicans have finally won enough seats to control the U.S. House of Representatives with 218 votes out of 435, with 9 seats still undecided, thus completing the party’s sweep into power & securing their hold on the U.S. government, alongside President-elect Donald Trump. A House Republican victory in Arizona, alongside a win in slow-counting California earlier Wednesday, gave the GOP the House the seats necessary that make up the majority. House Democrats now control 211 seats. Republicans earlier gained control of the Senate from Democrats with 53 seats versus 47. With control of both houses of Congress, the Trump agenda is likely to be enacted rather quickly in 2025.
The U.S. dollar index, which measures the currency against six top counterparts including the yen, rose to 106.75, its highest level in one year, as investors expect Trump’s policies to delay the Federal Reserve’s pace of cutting rates.
It was reported on Friday, that Elon Musk’s artificial intelligence company xAI is raising up to $6 billion at a $50B valuation. Sources say that the funding, which should close early next week, is a combination of $5B expected from sovereign funds in the Middle East & $1B from other investors, some who may want to be re-upping their investments. The money will be used to acquire 100K Nvidia chips, per sources familiar with the situation, which will likely have a measurable impact on improvements to Tesla’s Full Self Driving.
Spain’s Deoleo, world’s largest olive oil producer, says one of the most challenging eras in the industry’s history seems to be drawing to a close, with prices expected to nearly halve from an all-time high over the coming months. A prolonged period of extreme weather & drought in southern Europe has severely impacted olive harvests in recent years, culminating in a price rally that shocked the industry & consumers. Prices have since cooled, however, as industry estimates point to significantly improved harvests in the 2024-2025 season, particularly in key producing countries such as Spain, Greece & Tunisia.
Latin American poverty levels in 2023 fell to a 33-year low, led by progress in Brazil, the United Nations’ Economic Commission for Latin America & the Caribbean (ECLAC) said in a report on Tuesday, even as severe inequality persists in the region. ECLAC said Latin America is marked by high inequality, limited social mobility & weak social cohesion, underpinned by inadequate social policies & weak protection systems. Over 170M people in the region are affected by poverty, particularly in Haiti, Nicaragua, & Honduras.

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In today’s Recap, Marcello talks to us about how Europe is facing a tough mix of crises, with both weather and economic warnings piling up. In Spain, record-breaking rainfall in Valencia flooded streets, destroyed homes, and left dozens dead, marking one of Europe’s worst floods in years. As citizens continue to search for the missing, the EU is urging people to stock up on supplies, cautioning that many countries aren’t ready for a prolonged emergency. At the same time, Warren Buffett’s Berkshire Hathaway has sparked concern by selling a large chunk of its Apple shares, hinting at possible stormy waters ahead for the markets.

Meteorologists said a year’s worth of rain had fallen in 8 hours in parts of Valencia, Spain on Tuesday. Residents described seeing people clambering onto the roofs of their cars, as a churning tide of brown water gushed through the streets, uprooting trees & dragging away chunks of masonry from buildings. In the hard-hit rural town of Utiel, some 85 km (53 miles) inland, the Magro river burst its banks, sending up to three metres (9.8 feet) of water into homes, which are mostly single-storey. The floods have also wrecked crops and killed livestock.
Spanish rescue teams scoured flooded homes & stranded cars on Thursday for those still missing after devastating floods in the Valencia region that killed at least 95 people, with forecasts of more bad weather prompting storm alerts further north. Local authorities have not disclosed how many people are still unaccounted for after Europe’s deadliest floods in years,The floods battered Valencia’s infrastructure, sweeping away bridges, roads & rail tracks as well as submerging farmland in a region that produces about 2/3 of the citrus fruit grown in Spain, a leading global exporter of oranges.
The U.S. cryptocurrency exchange platform Coinbase fell -15.34% on Thursday at $179.25, in the worst day in over 2 year, after posting a Q3 earnings & revenue miss. Coinbase’s revenue came in at $1.21B, while analysts anticipated a top line figure of $1.26B. The stock is down -9.44% in the past 3 months, but up +6.45% in 2024 & +115.78% y/y, with a market cap of $44.88B.
The most recent jobs report offered a final look at the U.S. labor market ahead of next week’s election. The economy added a mere 12,000 jobs. The softer than expected October jobs report made traders more confident that the Federal Reserve will cut interest rates at both of its remaining policy meetings this year, rather than remaining passive.
Crude oil prices slightly rose on Friday, on reports that Iran is planning another attack on Israel through proxies. Despite the rebound, prices are still headed for modest weekly losses, due to widespread concerns over a weaker demand outlook & an oversupplied market in 2025, with traders waiting to see if OPEC+ will stick to its plan to start hiking output in December.
The e-commerce giant stock Amazon surged +6.19% on Friday at $197.93 on Q3 results that beat analysts’ expectations. The firm said on Thursday that it expects revenue in a range of $181.5B to $188.5B in Q4. Analysts had forecast $186.36B in revenue for the quarter. Amazon said operating income is expected to be between $16B & $20B during Q4. Wall Street had projected $17.49B. In Q3, Amazon posted earnings per share of $1.43 on revenue of $158.9B. Analysts had expected EPS of $1.16 on revenue of $157.29B. The firms’s cloud segment, Amazon Web Services, grew +19% y/y for the quarter. Shares are up +17.89% in the past 3 months, +30.27% in 2024 & +42.81% y/y, with a market cap of $2.08T.
A tax amnesty program in Argentina encouraging residents to deposit foreign currency kept in their homes or saved in accounts abroad drew around $18B by an initial deadline on Thursday, an official said. Libertarian President Javier Milei rolled out the plan earlier this year, to draw much-needed dollars back to Argentina’s formal economy, as it deals with a shortage of foreign currency reserves, amid a technical recession. The deposits are seen as signs of a vote of confidence in Milei’s leadershi,p as his austerity measures have helped bring down month-on-month inflation to single-digit figures. Annual inflation, however, remains in the triple digits.
Ukraine is using dozens of domestically made AI-augmented systems for its drones to reach targets on the battlefield without being piloted, a senior official said, disclosing new details about the race against Russia to harness automation. Systems that use artificial intelligence allow cheap drones carrying explosives to spot or fly to their targets in areas protected by extensive signal jamming, which has reduced the effectiveness of manually piloted drones.
Researchers have recently uncovered a secret Mayan city in Mexico which once featured an urban landscape of over 6,500 structures. The scientific team used lidar technology to create 3-dimensional models across 50 miles of land in Campeche, allowing them to map areas, not visible to the naked eye. The method revealed a 21-square-mile metropolis with iconic stone pyramids, houses & other infrastructure that have been concealed for over 3,000 years.

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In this week’s Recap, Marcello tells us how Tesla is making headlines with the launch of its new robots, driverless taxi, and driverless van, showcasing advancements in AI and automation. Meanwhile, Warren Buffett continues his massive sell-off, shedding billions of dollars in stocks over the past few months, signaling caution in the markets. And in the world of media, Joe Rogan’s highly anticipated interview with Donald Trump has sparked conversations about politics, media, and the future of the U.S.

Hurricane Milton marched across Florida starting on Wednesday & into Thursday, as the storm hit Florida’s west coast as a Category 3 hurricane, whipping up deadly tornadoes, destroying homes & knocking out power to 3.3M customers, but the Tampa Bay metropolitan area appeared to have escaped without the catastrophic flooding that had been feared. Authorities were still waiting for rivers to crest, but so far water levels were at or below what they received with Hurricane Helene 2 weeks ago.
Trump Media & Technology Group, the parent firm of Donald Trump’s Truth Social, rose 18.54% on Tuesday at $21.80, up for a 4th session of gains, in the longest rally since June, as investors assess Elon Musk support & latest media appearances by VP Harris as the Democratic nominee for president. More than 45M DJT shares were exchanged Tuesday, more than tripling its 30-day average volume. Trump owns nearly 57% of Trump Media, in a stake worth almost $2.5B as of Tuesday, gaining near $400M in valuation for the former president, who has vowed not to sell his shares. The stock is up +37.89% in the past 5 days & +30.70% in the past month.
European stock markets were higher on Friday,at more than a 1-week high as investors shifted their focus to updates on China’s stimulus plans, corporate earnings and an interest rate decision by the European Central Bank. Traders were also digesting the return of growth in the U.K. for the month of August & the posting on Thursday of France’s national budget.

Shares of the U.S. based electric vehicle (EV) maker Tesla fell -8.78% on Friday at $217.80, after its robotaxi event underwhelmed investors. Morgan Stanley analysts noted that the event overall disappointed expectations, due to a lack of details in several areas, including how the company is going to compete against ride-sharing companies, like Lyft & Uber. Shares of those firms jumped following the event, with Lyft surging +9.59% at $13.60 & Uber gaining +10.81% at $86.34. Tesla stock is down -12.26% in the past 3 months, -12.35% in 2024 & -13.27% y/y, with a market cap of $695.79B.

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In today’s Recap, Marcello tells us that the tensions in the Middle East are reaching a dangerous peak as Israel escalates its military response, with commando and paratroop units launching raids into Lebanon on Tuesday. Hezbollah retaliated with missile strikes on Israel, targeting areas near Tel Aviv, while Iran fired over 180 ballistic missiles in a growing regional conflict. As fears of an all-out war loom, financial markets are also feeling the impact. Warren Buffett’s Berkshire Hathaway continued its massive stock selloff, offloading another $338M worth of Bank of America shares this week, bringing the total to over $9B since mid-July.

It was reported on Thursday that Berkshire Hathaway sold another chunk of Bank of America shares during the past 3 trading sessions, bringing its remaining stake to just +10.2%. Warren Buffett’s conglomerate dumped more than 8.5M shares of the bank worth $338M, according to a new regulatory filing. Berkshire has shed more than $9B worth of the bank stock in a big selling spree, that started in mid-July. Once its stake drops below 10%, Berkshire will no longer have to disclose related transactions within 2 business days.
According to the U.S. Labor Department data released Friday, the U.S. added 254,000 jobs in September & the unemployment rate ticked lower to 4.1% The September jobs report blew past economist expectations, which foresaw the addition of 140,000 jobs & a jobless rate of 4.2%.
At least 215 people are known to have died as a result of the destruction wrought by Hurricane Helene, the 2nd deadliest storm in the U.S. in the last 50 years, since it made landfall in Florida a week ago.More than half of the deaths were in North Carolina, where several feet of fast-moving water destroyed entire communities.Hundreds are still missing, and officials have reported difficulties in identifying some of the dead. There is flood & wind damage that may end up costing $250B, in the states Florida, North & South Carolina, Georgia, Virginia, & Tennessee.
U.S. listed shares of the automaker Stellantis fell around 4.04% on Thursday at $13.08, hitting a new 52-week low during the session, following a downgrade to equal weight from overweight at U.K. investment banker Barclays. Analyst Henning Cosman said that the firm was “wrong-footed” on the stock, as it was “too slow to acknowledge its US inventory issue & eroding E.U. & U.S. market shares.
Shares of Tesla fell -3.49% on Wednesday at $249.02, after the U.S. electric vehicle company fell short of Q3 delivery estimates. Deliveries came in at 462,890, versus an earlier estimate of 463,310.Tesla is facing increased competitive pressure, especially in China, from companies like BYD & Geely, along with a new generation of automakers, including Li Auto & Nio
It is being reported Thursday evening that negotiations on the U.S. port strike continue & the parties reached a tentative agreement on wages & agreed to extend the master contract until Jan. 15. The sources said they will return to the bargaining table to negotiate all outstanding issues. 50K of U.S. dockworkers had walked off the job early Tuesday morning, clogging dozens of ports along the East & Gulf coasts. The ILA, the union representing the East Coast & Gulf Coast dockworkers under the contract at issue, was seeking higher wages & a ban on the use of some automated equipment.
On Thursday, Meta CEO Mark Zuckerberg surpassed Jeff Bezos as the world’s 2nd richest person.Zuckerberg’s net worth reached $206.2B topping the $205.1B net worth of the former Amazon CEO & president. The Facebook co-founder now trails Tesla chief Elon Musk by roughly $50B, With his 13% stake in Meta, Zuckerberg’s net-worth has risen by $78B since the beginning of the year, which is more than any member of the 500 richest people globally. Meta shares closed at a record high on Thursday at $582.77, representing a roughly 68% jump from early January, when its shares were trading at $346.29.

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In today’s recap, Marcello talks about how Warren Buffett’s Berkshire Hathaway has been aggressively selling off billions in stock, including $896 million worth of Bank of America shares and around $8 billion in Vodafone since mid-July. Meanwhile, the Federal Reserve made headlines by cutting interest rates by 50 basis points on Wednesday—the first reduction in 2.5 years. Also, Apple shares fell -2.78% amid reports of sluggish demand for its latest iPhone models, with iPhone 16 sales down 12% compared to the previous year’s launch.

The U.S. national debt has ballooned to $35.378 trillion, and the Treasury Department has already spent $1 trillion this fiscal year. By the end of 2024, interest payments on the debt are projected to total $1.2 trillion, second only to Social Security spending at $1.5 trillion. Under Trump, the national debt increased by $7.3 trillion, but Biden has already surpassed that with $8.4 trillion in new debt.
Warren Buffett’s Berkshire Hathaway has been actively selling off its stake in major companies throughout 2024, including dumping $896 million in Bank of America shares, reducing its position to 836 million shares (a 10.8% stake). Berkshire has also offloaded around $8 billion worth of Vodafone stock since mid-July. Meanwhile, the Federal Reserve cut interest rates by 50 basis points on Wednesday, marking the first rate reduction in 2.5 years, bringing the fed funds rate to 4.75%-5%.
Apple shares fell -2.78% on Monday to $216.32 after reports of sluggish demand for its latest iPhone models. Analysts noted that iPhone 16 demand is down 12% compared to the iPhone 15 during its launch weekend, with data suggesting weaker sales for the Pro models.
The U.S. Federal Reserve cut interest rates by 50 basis points Wednesday, the central bank’s 1st rate reduction following a two-and-a-half year crusade against inflation that raged in the wake of the pandemic. The new federal funds rate is 4.75% to 5% , a large rate cut that signals the Fed’s confidence that its war against inflation is coming to an end. The Fed incrementally increased interest rates from near 0 in March 2022 to a range of 5.25 to 5.5% last July, as it battled rising inflation, which peaked at 9.1% in June 2022.
Sugar futures surged to their largest weekly gain in years, driven by “unusual and persistent weather events” in Brazil. Roughly 59% of the country is currently facing drought conditions, with some Amazon rivers hitting all-time lows, making several waterways unnavigable. This severe drought has led to fears of reduced crop yields, causing a significant spike in sugar prices.
Gold prices have soared to unprecedented levels, setting a new record high and closing price. This surge is attributed to a perfect storm of economic and geopolitical factors, primarily driven by the Federal Reserve’s recent monetary policy shift and escalating tensions in the Middle East. December gold was trading at $2,647.10 on Friday.
The U.S. delivery giant FedEx shares plunged -15.23% on Friday at $254.64, after reporting a steep quarterly earnings drop. The firm also lowered its full-year revenue forecast. CEO Raj Subramaniam said industrial demand was softer than expected, while FedEx’s customers continued to shift to cheaper, slower delivery options, which has squeezed profits. The stock is up +0.66% in 2024, but down -2.47% y/y, with a market cap of $62.21B.
Tesla shares +7.36% Thursday at $243.92, as the EV maker rallied along with other auto-makers due to the larger than expected interest rate cut by the Fed . Vehicle insurance registrations last week in China declined sequentially, but the firm is still trending towards its best ever quarterly deliveries total in the world’s largest EV market, with just 2 weeks left in Q3.Tesla registrations in China, a rough gauge for deliveries, are up +26% vs last quarter & have increased over +20% vs. a year ago.Tesla’s China vehicle registrations in Q3 are now nearly +5% above Q4 2023, the EV giant’s best ever quarterly performance. The stock is up +33.28% in the past 3 months, but still down -1.84% in 2024 & -0.39% y/y, market cap of $779.24B.

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This week saw a variety of significant developments across markets, commodities, finance, and international affairs. In the US, markets remained volatile with the Consumer Price Index (CPI) for core inflation showing an unexpected rise in August. Meanwhile, energy markets faced turbulence, with oil recording its worst week in nearly a year. On the other hand, precious metals rallied on Friday, fueled by optimism around potential interest rate cuts. In a notable legislative move, New Jersey eliminated sales taxes on gold and silver, adding momentum to the precious metals market.

Financial and economic news remained a mixed bag. Bolivian inflation hit its highest level in nearly a decade at a 12-month rate of 5.19%, while Argentina’s inflation for August was projected at 3.9%. German inflation, on the other hand, dropped to its lowest point in over three years, prompting the European Central Bank (ECB) to cut interest rates by another 0.25%, bringing them down to 3.50%. This reduction follows a similar cut in June, putting the ECB within striking distance of its 2% inflation target. Japan’s second-quarter GDP also saw a positive uptick of 2.9% on an annualized basis, reflecting a more optimistic economic outlook.

In the political arena, tensions were high with a second reported assassination attempt on former US President Donald Trump and an active shooter incident on a golf course. Violent crime statistics continued to paint a grim picture compared to 2020, with figures showing a 40% increase in violent crimes overall. Notably, car thefts were up 42%, aggravated assaults increased by 55%, and violent attacks by strangers surged 61%. These figures underscore growing concerns over public safety in many parts of the country.

Corporate news highlighted both challenges and opportunities. Samsung announced plans to slash its global workforce by up to 30% amid stiff competition from Apple and Huawei. BMW had a rough week, with shares dropping 11.15%, marking the automaker’s worst day in more than four years, largely driven by sluggish demand in China. Boeing faced another setback, with over 30,000 workers poised to strike after rejecting a new labor contract, threatening to halt production of aircraft, including the best-selling 737 Max. Ally Financial, one of the largest US banks, reported rising delinquencies and charge-offs, causing significant concern in the financial sector, while Big Lots prepared for bankruptcy, planning to shut down 1,400 stores across the country.

In technology, Nvidia shares rebounded significantly, climbing 8.15% on Wednesday and another 3% on Thursday, driven by rising demand for chips. Nvidia has seen an impressive 143% increase in stock price in 2024, reflecting the company’s growing dominance in the tech sector. SpaceX once again made headlines by successfully completing the world’s first private spacewalk, pushing the boundaries of commercial spaceflight. Meanwhile, internationally, South America’s Paraguay River hit a record low, hampering critical trade routes for soy, corn, and other exports, while Bolivia declared a national emergency due to raging forest fires.

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In this week’s Recap, Marcello shows us how the U.S. stock markets have seen over $2 trillion wiped out in just six days, a loss equivalent to the entire GDP of Canada. With growing recession fears sparked by the latest jobs report, stocks have taken their worst hit since March 2023. Meanwhile, Tesla’s stock has surged nearly 5%, as the company prepares to expand its Full Self-Driving technology to China and Europe, pending regulatory approval. There are also some concerns rising in California, there might be an earthquake coming.

U.S. stock markets were far lower on Friday, in the worst trading week since March 2023, after the latest jobs report had investors increasingly concerned over possibility of recession. Concerns that AI demand won’t live up to lofty priced-in expectations hit tech shares. Anxiety about the economy has shaken markets again this week, sending the benchmark 10-year Treasury yield to its lowest level of the year, during a volatile trading day.
Crude prices fell further Friday to its lowest level since June 2023, in the worst week in nearly a year. Saudi Arabia’s state-run oil company has cut its October pricing for its Arab Light crude oil for Asian buyers, according to the new price list. Saudi Aramco has cut its Arab Light crude oil by $0.70. Saudi Aramco has also lowered the price of Arab Light to Europe & the U.S. As an economic slowdown is impacting ever more of the global economy, it is likely oil demand will be impacted as well.
Elon Musk’s satellite broadband firm, Starlink, on Tuesday stated that it is complying with Brazil’s top court order to block access to social media platform X in the country, a day after informing the country’s regulator it wouldn’t obey the order. Starlink had emerged as a fresh battleground between Musk & Brazil, as top court judge Alexandre de Moraes ordered the freeze of the company’s accounts for possible use to pay fines owed by X, which is also owned by Musk.
Colombia’s government on Friday reached a deal with truckers to suspend a protest over a rise in diesel prices, after road blockades threatened to cause food & fuel shortages in the biggest cities. The deal came after the government backed down from its plan to increase the price of diesel by 1,904 pesos ($0.45 ) per gallon starting this month, instead agreeing to a rise of just 800 pesos in 2 equal increments during the rest of the year.
Rancho Palos Verdes, a coastal community in the Los Angeles area,is a geological ticking time bomb. The affluent city sits atop steep cliffs overlooking spectacular views of the Pacific Ocean that, for 100’s of years, have been slowly shifting & giving way. Now, that movement is accelerating. Whereas the ground slid downward 8 inches annually in years past, it has lurched 13 inches per week in some places, between July & August. The resulting landslides have ripped apart seaside mansions, buckled roads & forced the utility provider to cut electricity to nearly 250 homes, to avoid the possibility of fires. This week the governor of California declared a state of emergency for the community.

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In US Market News, Monday marked the eighth consecutive session of gains for U.S. stocks, with traders anticipating Federal Reserve Chair Jerome Powell’s comments later in the week. The Fed’s latest policy meeting reinforced expectations of a rate cut in September. Powell confirmed that rate cuts are forthcoming but did not specify the timing. Additionally, new data indicated weaknesses in the labor market.

In Conspiracy News, reports suggest the Atlantic Ocean is cooling at a record pace, baffling climate scientists. Concerns are also mounting over high fluoride exposure in children, which has been linked to lower IQ and other neurodevelopmental issues. Notably, toothpaste labels now advise calling emergency services if ingested.

In Bitcoin and Crypto News, Japan’s banks are set to adopt XRP for transactions starting in 2025. This move places Japan at the forefront of digital currency integration, allowing nationwide XRP payments and rewards.

In Commodities and Energy, peace talks in the Middle East are reducing supply risks, while China’s economic weakness poses a threat to demand. Chinese refineries have reduced crude processing rates due to low fuel demand. U.S. crude futures fell 3.01% to $74.34, while Brent futures dropped 2.51% to $77.68. Gold has risen 22% in 2024, reaching an all-time high, with a bar of gold now valued at $1 million.

In Financial and Banking News, China plans to bolster its social security fund by 2.88 trillion yuan ($406 billion) to support its aging population, with 300 million Chinese expected to retire in the next decade. By 2040, half of the people over 65 in the Asia-Pacific region will live in China. Projections indicate China’s pension system could run out of funds by 2035.

In Economic News, Japan’s business activity hit a 15-month high in August, with growth in both manufacturing and services sectors. In the U.S., July home sales ended a four-month decline, with supply increasing by nearly 20% compared to last year.

In Political News, Venezuela’s Supreme Justice Tribunal upheld Nicolás Maduro’s presidential election victory on July 28. Meanwhile, Robert F. Kennedy Jr. withdrew from the presidential race and endorsed Donald Trump.

In Corporate News, Telegram founder Pavel Durov was arrested in France and faces up to 20 years in prison. Warren Buffett’s Berkshire Hathaway sold 13.9 million more major bank shares, reducing its stake to 11.9%.

In Technology, Taiwan’s TSMC, the world’s largest contract chipmaker, opened a new chip plant in Dresden, Germany. This move strengthens TSMC’s position as a key supplier to Europe’s industrial and automotive sectors, supported by 5 billion euros ($5.5 billion) in state aid.

In Interesting Facts, archaeologists discovered a giant rock in the Colombian Amazon with animal paintings dating back to around 12,500 BC. This find offers insights into the diet and mythologies of the continent’s early inhabitants.

The post August 25: Record Cooling Atlantic Ocean, Interest Rate Gods Respond, Warren Buffett Keeps Selling (Recap Ep290) appeared first on Investing & Day Trading Education: Day Trading Academy.

In this week’s Recap, Marcello let us know that gold continues to explode in value, reaching record highs as investors anticipate a rate cut from the Federal Reserve. Meanwhile, a “doomsday” fish has been discovered off the coast of California, raising concerns of seismic activity, and Japan has issued a stark warning, urging citizens to prepare for a potential mega earthquake.

The latest inflation data released on Wednesday has given investors confidence that a rate cut from the Federal Reserve is likely next month. The Consumer Price Index (CPI) showed prices rose by 2.9% over the past 12 months through July, which was below economists’ expectations of 3%.

A rare “doomsday” fish, the Oarfish, was found near the Southern California shore, raising concerns. Known as the largest deep-sea fish, the Oarfish has historically been linked to seismic activity, with more than 20 washing ashore in Japan just months before the devastating 9.1 earthquake in 2011. The governments of Japan and the Philippines are now warning citizens to prepare for a potential mega quake.

Iron ore prices hit their lowest level since 2022 on Wednesday, driven by concerns over global supply and demand imbalances. China’s steelmakers are in crisis, cutting output just as major miners boost exports. Futures fell for the fourth consecutive day in Singapore, with China’s steel production about 9% lower than a year ago, signaling a slowdown in the largest importer of seaborne iron ore.

In the UK, inflation rose to 2.2% in July, slightly below expectations. Meanwhile, the Eurozone’s GDP grew by 0.3% quarter-on-quarter in Q2, with employment rising by 0.2%. France saw its consumer prices increase by 2.7% year-on-year in July, slightly up from the previous month’s preliminary reading.

Huawei is preparing to introduce a new AI chip in a bid to challenge Nvidia’s dominance in China, especially amid U.S. chip export controls. The tech giant has been testing the latest chip in recent weeks and aims to start shipping as early as October.

Greece’s worst wildfire of the year spread into the Athens suburbs on Monday, forcing hundreds of people to flee as the flames crept on residential areas.

The post August 19: Gold cont to explode, Doomsday Fish found California, Japan Warns mega earthquake (Recap ep289) appeared first on Investing & Day Trading Education: Day Trading Academy.