Good Morning Everyone!
Remember, investors building generational wealth don’t care what the stock market is going to do in the next 3 weeks.
Prices as of 4 pm EST, 9/7/22; % YTD
MARKET UPDATE Volume was very low on yesterday’s move
- S&P 500 +1.8%
- Conference Season continues today: Merrill, Citi, ISI, Goldman
European Central Bank raised interest rates by 0.75 points to 1.25%
- 9:10 a.m. Powell speech
- Tuesday U.S. CPI
Fed Vice Chair Lael Brainard speech yesterday:
“While the moderation in monthly inflation is welcome, it will be necessary to see several months of low monthly inflation readings to be confident that inflation is moving back down to 2%”The market is expecting inflation to fall to 2.5% by mid-2023
Crude 83 +1%
- American Petroleum Institute reported a crude build
Apple (NASDAQ: NASDAQ:AAPL)
- Event had no major surprises except, despite inflation, no-price-increase on the iPhone
- New feature: check it out
Twitter (NYSE: NYSE:TWTR)
- Delaware Court issued 2 rulings:
- An order enabling Musk to explore Mudge’s whistleblower claims but the trial date will not be extended
- An order denying Musk’s request to get more data from Twitter
Google (NASDAQ: NASDAQ:GOOGL)
- Clamping down on employee travel to “business critical” trips
Earnings
- Casey’s General Stores (NASDAQ: CASY)
CRYPTO UPDATE VCs bullish on GameFi projects
-
Metaverse and gaming project fundraising in 2022 = $2.4 billion
- 2021 = $874 million
-
Highlights
- Epic Games $2 billion
- Animoca Brands $459 million
- Temasek $200 million
- “Gamers gonna game”
Ethereum (CRYPTO: ETH) has been outperforming
-
Last 5 days
- ETH +5.3%
- BTC -2.7%
- Total crypto -0.8%
Altcoins vs Bitcoin (CRYPTO: BTC)
- All top 50 altcoins outperformed over the last 3 months
- Over the past month, roughly half have outperformed
MEME OF THE DAY
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