They got screwed

Israel launches Gaza war's second phase with ground operation, the big bond market event Wednesday is at Treasury, which is also the day we get the next Fed rate hike decision, BofA says boomers won the housing market and millennials got screwed, and ‘X’ launches two subscription tiers to boost replies…

Author

Market Briefing
October 30, 2023

☕️ Good Morning.

The Fast Five → Israel launches Gaza war's second phase with ground operation, the big bond market event Wednesday is at Treasury, which is also the day we get the next Fed rate hike decision, BofA says boomers won the housing market and millennials got screwed, and ‘X’ launches two new subscription tiers…

Here’s your 5-minute briefing for Monday:

BEFORE THE OPEN

As of market close 10/27/2023. Bitcoin as of 10/29//2023.

MARKETS:

  • Dow drops 366.71 points (1.12%) on recession fears.

  • S&P 500 slips 0.48%, entering correction territory down 10.3% from July peak.

  • Nasdaq rises 0.38% due to Amazon's strong Q3 performance.

  • All three major indexes record steep weekly losses.

  • Ford down 14% this week after missing Q3 expectations.

  • Chevron shares down 13% this week following earnings report.

  • Nasdaq enters correction territory, down over 10% from July high.

  • New inflation data shows core PCE increased 0.3% in September, year-over-year increase of 3.7%.

  • Upcoming Federal Open Market Committee meeting Nov 1.

EARNINGS

  • Monday: McDonald’s (MCD), SoFi Technologies (SOFI)

  • Tuesday: Advanced Micro Devices (AMD), Caterpillar (CAT), JetBlue Airways (JBLU)

  • Wednesday: Airbnb. (AIR), DuPont (DD)

  • Thursday: Apple (AAPL), DraftKings (DKNG), Palantir Technologies (PLTR), Starbucks (SBUX)

  • Full earnings calendar here

NEWS BRIEFING

Dealers see the US Treasury lifting note and bond sales again. Meanwhile, Fed officials have prepped market for another skip.

The ‘great wealth transfer’ isn't $73 trillion but $129 trillion. 'Everyone locked in 3% mortgage rates, except Millennials.'

  • Israel War Latest:

    • Israel launches Gaza war's second phase with ground operation (more)

    • Israel warns of ‘long’ war as invasion of Gaza Strip begins (more)

    • Musk says Starlink will provide Gaza connectivity for aid groups (more)

  • Fed Meeting: Consumer resilience is about to be tested by rate decision (more)

  • Strained markets face added tension as Israel-Hamas war heats up (more)

  • One last make-or-break week of 2023 has Treasury traders on edge (more)

    • ‘Buy the Dip’ investing mantra lives on—in the bond market at least (more)

  • Oil and gas markets eye escalation risk as Gaza war deepens (more)

  • UAW expands strike with GM after reaching tentative agreement with Stellantis (more)

  • Hedge funds pile into uranium stocks poised for ‘dramatic’ gains (more)

  • Mortgage rates at 8% make a brutal US housing market even worse (more)

  • A new White House plan to create affordable housing: convert empty office buildings (more)

  • Cruise to pull all of its driverless vehicles off streets nationwide (more)

  • X starts subscription tiers that cost up to $16 a month (more)

  • Louis Vuitton juggles volume and value as luxury boom ebbs (more)

  • SBF admits 'mistakes' but testifies he did not defraud anyone (more)

  • Kim Kardashian breaks record with Skims for Men launch, making millions in just a few minutes (more)

TOGETHER WITH THE MOTLEY FOOL

Get unlimited access to Stock Advisor.

The Motley Fool helps millions of people like you attain financial freedom through our website, podcasts, books, and premium investing services.

Get Unlimited Access to Motley Fool Stock Advisor today and SAVE $100 off your first year!

DEALFLOW

  • Aurelius in talks to buy The Body Shop (more)

  • UK's ASOS exploring sale of Topshop brand (more)

  • Triveni Bio, a biotech company providing a genetics-informed precision medicine approach for I&I disorders, raised $92M in Series A funding (more)

  • Arteria AI, an applied AI company building modern documentation infrastructure for institutional finance, raised $30M in Series B financing (more)

  • PopUp Bagels, a viral bagel startup, closed an $8M capital raise (more)

  • Nocturne, a protocol enabling on-chain private accounts, raised $6M in seed funding (more)

  • Planatome, a medical device company, raised $5M Series A equity investment round and secured an additional $1M convertible venture debt commitment (more)

  • Algenesis Corporation, a plant-based material science company, raised $5M in seed funding (more)

  • Kento Health, a cardiac rehabilitation and health technology company, raised $3M in Pre-Seed funding (more)

  • Node, an online shopping platform without accounts, raised $2.75M in Seed funding (more)

  • Ascendant, a consumer brand management company, received a revenue-based financing package from Decathlon Capital Partners (more)

  • OfficeRnD, a provider of coworking and hybrid work software, received a strategic investment from Blue Star Innovation Partners (more)

  • Faction Technology, Inc., a driverless-vehicle technology developer that reimagines urban transportation and micro-logistics, raised a new funding round of undisclosed amount (more)

  • SquadUP, a provider of a ticketing, event management, and audience engagement platform, received an investment from Performant Capital (more)

M & A:

  • Scenera, an AIoT data management company, acquired TnM AI Co., an AIoT company (more)

  • Accenture (NYSE: ACN) is to acquire ConcentricLife, a healthcare marketing agency with expertise in helping Life Sciences brands build an optimal brand experience at any stage of the health journey (more)

  • Her Campus Media, a media portfolio for college women and Gen Z, acquired Zfluence, a platform connecting brands with young content creators (more)

  • Shift4 (NYSE: FOUR), a company specializing in integrated payments and commerce tech, completed the previously announced acquisition of Finaro, a cross-border ecommerce payments provider (more)

  • BibliU, an EdTech company, acquired Texas Book Company, an industry leader in delivering learning materials to higher education institutions across the U.S. (more)

  • Squeeze, a tech platform helping consumers manage, evaluate, and save on their recurring insurance contracts, acquired Youtility, a tech startup partnering with banks and fintech companies to deliver embedded home finance management services (more)

Was this briefing forwarded to you?  (Sign up here.)

CRYPTO

  • Crypto memes kick back into high gear after Bitcoin ETF frenzy (more)

  • The hunt for Crypto's most famous fugitive. 'Everyone is looking for me' (more)

  • U.S. SEC has 8-10 filings of possible Bitcoin ETF products (more)

BULLISH BITES

🏦 Can AI Replace Your Financial Adviser? Not Yet. But Wait.

⛳️. The Soho House model meets the Country Club — upscale indoor golf clubs woo a new generation of social climbers.

🇸🇦 Saudi Arabia’s ‘New Middle East’ has a problem: The old one.

🤣 Martin and Francesca Scorsese have become TikTok’s ’dynamic duo’.

DAILY SHARES

Know someone who would enjoy this?

Like what you see? Subscribe Now

Keep the curation going! Buy the team a coffee ☕️

Have a comment or suggestion for MarketBriefing? We’d love to hear it!
Send us a message -mb

T

Reply

or to participate.