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Archive
Bye Bye, Boris
Stocks rebounded yesterday, Boris Johnson is stepping down as the UK's prime minister, Elon's Twitter acquisition is in peril, GameStop announced layoffs, the FDA paused its Juul ban, former Japanese prime minister Shinzo Abe was shot during a political event, and mortgage rates fell to ~5.3% as investors think we're headed for a downturn.
Nuclear Goes Green
The Fed may hike rates another 50-75bps this month, the EU officially labeled natural gas and nuclear power as green energy, France is nationalizing a nuclear company, North Korea is trying to hack US healthcare companies, the Biden administration proposed new steps to alleviate student debt, and GameStop announced a stock split.
Tweet to Lower Gas Prices
The dollar has had its best year in a decade, summer cookout costs have inflated, China ordered 292 Airbus jets, Yellen said inflation is too high, Klarna may raise new capital at a steep markdown, crypto fund Three Arrows filed for bankruptcy, and Joe Biden tweeted at local gas station owners across the country to not make a profit on their gas sales.
Rage For America
US home prices hit an all-time high, Spirit delayed its shareholders vote for a potential merger with Frontier, USC and UCLA are joining the Big Ten, economic growth is finally hitting China again, Ketanji Brown Jackson was sworn in to the Supreme Court, and FTX passed on a deal to acquire Celsius.
J Pow's White Flag
J Pow said we need to accept a higher risk of recession to fight inflation, Snapchat is launching a premium feature, Wall Street is pulling back from Middle Eastern SPACs, $30B in Russian oligarch wealth has been frozen or seized, and Substack laid off some of its staff.
