Day Trading Academy

Day Trading Academy

By Marcello Arrambide: Founder - Day Trading Academy Learn to TradeBusinessEducationInvesting
Download on the App Store

Day Trading Academy episodes

  • November 12: Elon Musk Drops New AI Grok, McDonald’s Closes San Francisco, Cyber Attacks Increasing (Recap ep252)

    In today’s recap, Marcello talks about Grok, the new AI that Elon Musk unveiled. After thirty years, McDonald’s is being forced to close due to an implosion in downtown San Francisco. US Treasury trading was interrupted by an unanticipated cyberattack.

    U.S. wheat shipments dropped to the lowest ever, interrupted by a shrinking Mississippi River & competition from ample global grain supplies. Drought has dried up the Mississippi, where roughly 2/3 of US grain exports historically have been shipped on barges to the U.S. Gulf of Mexico. The water levels have improved slightly from last month’s record low, but the world’s crop buyers have already been purchasing more supplies from elsewhere. It is limiting demand for U.S. grain & has contributed to the country losing its status, as the shipper of choice as U.S. wheat exports plunge to a 20 year low.

    Stockpiles of premium coffee beans on world’s biggest arabica exchange have plummeted to lowest levels since 1999, as some sellers race to take advantage of a closing loophole. Although falling inventories held in global warehouses monitored by Intercontinental Exchange Inc. would normally signal soaring demand or a dip in supplies, the +20% plunge seen appears to be a strategic move ahead of a crucial Dec. 1 rule change. Some sellers, looking to avoid an age penalty meant to discourage lengthy coffee storage have pulled older beans off the exchange to resubmit them for a new round of certification, making the coffee appear fresh.
    The U.S. based trading platform Robinhood stock fell -14.29% on Wednesday at $8.36 after missing revenue estimates in Q3 even after rising +29%. Robinhood posted $467M in the quarter, below analysts’ estimate of $480M. Revenue was hurt by a 13% decline in 3rd quarter transaction revenue tied to stock trading, compared with the same period last year. Robinhood also reported fewer monthly active users, which fell -16% to 10.3M in the 3rd quarter from the same period last year. Shares are down -22.04% in the past 3 months, but up +2.76% in 2023. The stock is down -9.76% y/y, with a market cap of $8.89B.
    Crude production in the U.S. this year will still rise, but by slightly less than previously expected. US crude oil field production is at a current level of 13.20M. Data from China, the world’s biggest crude oil importer, showed its total exports of goods & services contracted faster than expected, fueling worries about the energy demand outlook. In the Eurozone, data indicated falling retail sales, also underscoring weak consumer demand & the prospect of recession.
    Shares of Disney rose +6.91% on Thursday at $90.34. The multi media conglomerate expanded its cost cutting measures by $2B & reported stronger-than-expected adjusted earnings for the fiscal 4th quarter. However, revenue fell short of expectations. Disney said its net income jumped +63% to $264M in the quarter that ended Sept. 30, up from $162M a year earlier. Its adjusted earnings per share, excluding items largely related to the amortization of Disney’s acquisitions of 21st Century Fox’s entertainment assets & Hulu, more than doubled to $0.82 in the quarter. Analysts had been expecting $0.71 a share.
    Shares of U.S. based Virgin Galactic Holdings rallied +19.23% on Thursday, at $1.86, a day after the company announced its cost savings initiative, which included pausing spaceflight operations next year. It also laid off 185 employees (18% of its workforce). The firm has been spending heavily to expand its fleet beyond the current sole VSS Unity spacecraft. It posted a net loss in Q3 of $104.6M, or -$0.28 a share, vs a loss of $0.43 a share expected. It generated $1.7M in revenue during the quarter, up from $767K from a year prior.The stock is still down -46.55% in 2023 & -66.18% year on year , with a market cap of $572.73M.

    The post November 12: Elon Musk Drops New AI Grok, McDonald’s Closes San Francisco, Cyber Attacks Increasing (Recap ep252) appeared first on Investing & Day Trading Education: Day Trading Academy.

    16 min
  • November 5: Tesla pauses Mexico factory, Jeff Bezos moving Miami, Japan bans cancer causing American food (Recap ep251)

    In this week’s Recap, Marcello talks about the greenlight that was given to Tesla to build a Gigafactory in Mexico, which is on hold due to concerns about the global economy; Jeff Bezos is moving to Miami; and Japan is banning commercial American cereal snacks that are “causing people cancer”.

    Danish shipping giant Maersk founded in 1904 shares & a bellwether for global trade, plunged -15.43% on Friday at $7.29, to its lowest level since October 2020, after stating profits will come in at the low end of guidance & announcing 10,000 job cuts. Q3 revenue dropped from $22.8B in 2022 to $12.1B. The job cuts, which will see its headcount reduced from 110K in early 2023 to below 100K, are expected to result in savings of $600M in 2024 compared with 2023. The stock is down -34.96% in 2023 & -24.82% y/y, with a market cap of $28.29B.

    Oil fell for the 2nd consecutive week after the risk premium from the Israel-Hamas war vanished, with the market responding to signs of lower demand. It came after the leader of Iran-backed militant group Hezbollah said it didn’t know about the Oct. 7 attack, reinforcing a view that the war may well remain contained.
    WeWork shares plunged -46.49% on Wednesday at $1.22, & another -9.02% on Thursday at $1.11, following a report that the shared NYC based workspace company is planning to file for Chapter 11 bankruptcy protection as soon as next week. The stock, which reached a high of $130.80 this year, is down -87.62% in the past 3 months, -98.06% in 2023 & -98.94% y/y, with a market cap of $64.97M.
    Canadian based e-commerce firm Shopify shares +22.36% Thursday at $59.70, highest levels since May, after it beat on the top & bottom lines for Q3, driven by strict cost controls & adoption of artificial intelligence to attract more merchants to its services.
    Archaeologists studying an ancient site in the North Sea say they have found a “feat of engineering” nearly 1,000 years older than the famed pyramids of Egypt. The site was initially built around 3,000 BC. Located on the remote British island of Orkney, the find included Neolithic architecture that was considered well ahead of its time, as well as 14 skeletons, offering a glimpse into the builders of this ancient site. The tomb would have been an immense feature in the landscape when it was originally constructed & the stonework inside would have been very impressive.

    Fewer US jobs were created in October at 150K vs the 180K expected; U.S. manufacturing contracted sharply in October after showing signs of improvement in prior month.

    The post November 5: Tesla pauses Mexico factory, Jeff Bezos moving Miami, Japan bans cancer causing American food (Recap ep251) appeared first on Investing & Day Trading Education: Day Trading Academy.

    16 min
  • October 29: Europe require visas for Americans? Elon Musk $1Billion Dickipedia, Israel invades Gaza (Recap ep250)

    In today’s recap, Marcello talks about an upcoming must-have permission from Europe for all American citizens planning to visit Europe in Spring 2025. A visa won’t be required, but you would need to apply for permission in advance. Elon Musk has offered $1 billion to Wikipedia to change its name to Dickipedia in the interest of accuracy. Israel has expanded its military ground activity in Gaza.

    U.S. consumer spending increased more than expected in Sept. at a sharp 0.7%,vs 0.5% forecast, as households boosted purchases of motor vehicles & traveled, keeping spending on a higher growth path. Outlays grew a robust +4% in Q3, biggest increase since 2019. Heading into what economists expect will be a challenging Q4, it showed monthly underlying inflation picking up last month, but it was largely driven by housing costs. Spending seen cooling off in early 2024, as excess savings accumulated during the pandemic run out, most economists believe the Fed is done raising interest rates, though risks of a rate hike remain.

    The Japanese still haven’t quite gotten over China surpassing their economy in gross domestic product (GDP) terms which happened 13 years ago. This week, the International Monetary Fund (IMF) calculated that Germany’s nominal GDP is on track to surpass Japan’s this year. That would push Japan from No 3 to No 4 globally it speaks to the weakness of the Japanese economy & the collateral damage from a now backfiring 25-year-old weak yen policy.
    United Auto Workers (UAW) union reaches a tentative labor deal with Ford, the 1st of Detroit’s Big 3 car manufacturers, to negotiate a settlement to strikes joined by 45K workers since mid-Sept. It provides a +25% wage hike over the 4-1/2-year contract, starting with an increase of +11%. The Ford deal, which may help create a template for settlements of parallel UAW strikes against General Motors & Chrysler parent Stellantis, will amount to total pay hikes of over +33%, when compounding & cost-of-living mechanisms are factored in.
    Scientists have unearthed something remarkable at several ancient Roman archaeological & construction sites, revealing artifacts coated in a naturally formed substance with unique modern technological potential. Fragments of ancient Roman glass vessels, having shattered long ago offer much more than just beautiful colors Engineering professors have learned that the molecular structure of these tiny Roman glass shards become rearranged over 1000’s of years, resulting in the formation of what physicists call photonic crystals which can produce unique optical effects in the way they filter & reflect light.

    Oil rose the most in 2 weeks after Israel’s military said it was expanding ground activity in Gaza Friday evening; energy giant BP’s electric vehicle charger unit is ordering $100M worth of Tesla’s ultra-fast chargers for roll-out in the U.S.; The interest rate on the most popular U.S. home loan last week jumped to the highest since September 2000.

    The post October 29: Europe require visas for Americans? Elon Musk $1Billion Dickipedia, Israel invades Gaza (Recap ep250) appeared first on Investing & Day Trading Education: Day Trading Academy.

    24 min
  • October 22: War Israel Heats Up, Elon Musk loses $16 Billion, China Beats Europe (Recap ep249)

    In today’s Recap, Marcello talks about the escalation of the armed conflict between Israel and Palestine and explains briefly the effects of this confrontation while not taking any sides. Due to the fall in value of Tesla’s stock, Elon Musk has lost $16 billion of its fortune; the Chinese Yuan has surpassed the Euro and became the world’s second most used currency for SWIFT trade settlements.

    The war between Israel & the Palestinian group Hamas that began Oct 07, has already spilled into the wider region & risks expanding further, with Iran backing an array of heavily armed groups. Hamas & its Palestinian ally Islamic Jihad are part of an Iran-backed alliance called Axis of Resistance. Iran’s Revolutionary Guards warned Tuesday of further action by Iran’s allies against Israel, if it did not cease its attacks. Since the Hamas attack on Israel on Oct. 7, Hezbollah has also been trading fire with Israeli forces in the most serious escalation across the Lebanese-Israeli frontier since 2006, when Hezbollah & Israel fought a war.

    The Texas based electric vehicle maker Tesla shares plunged -9.3% Thursday at $220.11, after the firm missed earnings & revenue expectations for Q3. Earnings per share came in at $0.66 vs $0.73 forecast. Revenue was posted at $23.35B vs the projected $24.19B. A number of analysts lowered their price targets on the company following the disappointing results, citing more margin pressure likely ahead. The stock is down -15.35% in the past 3 months, but up +78.69% in 2023 & +2.64% y/y, with a market cap of $770.26B.
    Headline inflation in Japan came in at +3% for September, slowing from the +3.2% rate in August, but the print was the 18th straight month that inflation remained above the Bank of Japan’s 2% target. Core inflation,which strips out prices of fresh food, also slowed to +2.8%, down from +3.1% in August. Separately, the so-called core-core inflation metric, which strips out prices of fresh food & energy, fell to +4.2% from +4.3% in August.
    A U.S. bumper harvest of corn, likely to be the 3rd largest ever, will strain storage capacity & hold down prices of the world’s most traded commodity crop. This will benefit customers who will pay less for corn used to feed livestock, dairy cows & egg-laying chickens or to make ethanol biofuel. However, it will squeeze profits for farmers, who will store corn & hope for new demand from exports or new domestic uses.There could be 50% more corn in storage when the harvest starts in 2024 than when it started this year, the biggest single-year jump in supplies in nearly 2 decades.

    Turmoil in the Middle East is keeping investors on edge & gold is one of the first assets to react thus rising above the critical psychological level of $2,000 an ounce & trading near 2.5-month highs on Friday; The U.S. Labor Department on Thursday reported that the number of Americans filing new claims for unemployment benefits fell to a 9-month low last week; A system incident halted trading in 100’s of shares on the London Stock Exchange.

    The post October 22: War Israel Heats Up, Elon Musk loses $16 Billion, China Beats Europe (Recap ep249) appeared first on Investing & Day Trading Education: Day Trading Academy.

    23 min
  • October 15: Get Ready for World War 3, Glyphosate found Fast Food, Ferrari accepts Crypto/Bitcoin (Recap Ep248)

    This week’s headlines were dominated by the escalating conflict between Israel and Palestine, casting a shadow over other global events. The situation saw oil prices surge nearly 4% after Hamas’ unexpected attack on Israel, an act that threatened to further destabilize the Middle East. The Israeli economy felt the heat as the Shekel plunged to its lowest value against the USD since 2016. In a bid to bolster its currency, the Bank of Israel has revealed plans to offload its foreign reserves. Moreover, Israel’s responsive action involved shelling South Lebanese towns after a rocket assault.

    In economic news, the US Consumer Price Index (CPI) saw a significant rise in September by 0.4%, accumulating a year-on-year increase of 3.7% due to mounting pressures from high gas and rent prices. Concurrently, the Producer Price Index (PPI) also ascended by 0.5%, suggesting forthcoming interest rate hikes by the Federal Reserve. Revelations about undesirable elements in popular fast foods, especially the detection of glyphosate in 95% of school lunches, became a cause for concern.

    In the crypto realm, the anticipated approval of Spot Bitcoin ETFs has climbed to a promising 90%. Yet, the cryptocurrency landscape faced a hiccup as the crypto broker, Genesis, put a hold on withdrawals. In the backdrop of this, Bitcoin’s value dipped by almost 4% to stand at $26,892.00. Global commodities felt the tremors of the Middle East conflict, leading oil prices to soar by nearly 4%. The precious metals market also sparkled as both gold and silver prices saw significant hikes, marking their most lucrative day this year.

    Financial highlights revealed the US debt skyrocketing at an alarming rate of $1.2 billion every hour. The Middle East crisis caused a significant dent in the Israeli economy as the Shekel touched its lowest mark against the USD since 2016. Political circuits buzzed with news of Vladimir Putin’s probable re-election and Robert F. Kennedy Jr.’s decision to leave the Democratic party and take the independent route. The UK’s retail landscape showed resilience with a 2.7% rise in sales for September, although still lagging behind the annual average.

    On the corporate front, big names like Apple, PepsiCo, Samsung, and LVMH captured attention with their stock sales, profit fluctuations, and unexpected shifts in growth trajectories. The technological horizon saw Amazon stepping up its game, poised to challenge SpaceX’s Starlink by introducing prototype satellites for its Kuiper internet network. International events painted a grim picture as the animosity between Hamas and Israel escalated with major confrontations. Natural calamities also made their mark with Afghanistan reeling from a devastating earthquake and Italy on high alert due to continuous seismic activities near the Campi Flegrei supervolcano. The Baltic Sea’s infrastructure faced potential disruptions with damages to its gas pipeline and telecom cable connecting Finland and Estonia.

    The post October 15: Get Ready for World War 3, Glyphosate found Fast Food, Ferrari accepts Crypto/Bitcoin (Recap Ep248) appeared first on Investing & Day Trading Education: Day Trading Academy.

    18 min
  • October 8: War Breaks Out Israel, Tesla Drops Prices AGAIN, Housing Mkt Collapse? (Recap ep247)

    In today’s Recap, Marcello talks about the heartbreaking news of the Israeli-Palestinian conflict’s sudden escalation, which resulted in multiple attacks; Tesla’s decision to cut prices once more in an effort to boost sales; and the possibility of the beginning of a housing market collapse as a result of the US’s highest mortgage rates in almost 23 years.

    Palestinian Islamist group Hamas took Israel by surprise on Saturday, with the biggest attack for decades, a sudden assault by gunmen who crossed into Israeli villages, killing at least 100 people & bringing hostages back into the Gaza Strip. Israel responded with massive air strikes deep inside the coastal enclave, killing scores & wounding 100’s of people & vowing unprecedented retaliation. Hamas leader Ismail Haniyeh said the assault that had begun in Gaza would spread to the Jerusalem & the West Bank.

    U. S. Labor Department on Friday: Job growth was heftier than expected in September, a sign that the U.S. economy is still strong, despite higher interest rates, labor strife & dysfunction in Washington. Non-farm payrolls increased by 336K for the month, better than the consensus estimate for 170K & more than 100K higher than the previous month. The unemployment rate was 3.8%, compared to the forecast for 3.7%. The payrolls increase was the best monthly number since January.
    After an unbroken string of 9 session losses, since the Federal Reserve left interest rates unchanged on Sept. 20 & after the U.S. payrolls report drove the spot price down to a fresh 7-month low of $1810.46, gold finally had its 1st positive close in 2 weeks on Friday. It was the longest daily losing streak in 7 years, with prices hovering near their lowest levels since March.
    Shares of U.S. based Rivian Automotive plunged -22.88% on Thursday at $18.27, its largest percentage drop on record, after the electric vehicle maker announced plans to raise $1.5B in convertible notes & as it offered preliminary Q3 revenue guidance roughly in line with analyst expectations. Rivian said it anticipates revenue to range between $1.29B & $1.33B, versus the $1.3B forecast by analysts. Shares are down -15.49% in the past 3 months, -0.87% in 2023 & -50.30% y/y, with a market cap of $22.47B.
    European Union leaders will discuss how to reform the 27-nation bloc to take in new members at a summit in Granada, Spain on Oct. 5-6, launching a long process to prepare the E.U. for another enlargement by a tentative deadline of 2030. The countries now slated for membership: Albania, North Macedonia, Montenegro, Moldova, Serbia, Ukraine, Bosnia-Herzegovina, with the possibility of Georgia & Kosovo as well.
    Meta Platforms, the parent firm of Facebook & sunglasses maker, Ray-Ban, have partnered to create a new & improved pair of AI-powered sunglasses that can record & make calls. Meta claims the camera built into the next-generation glasses can snap photos or record 1080p video. Metareports that the Ray-Ban Meta smart glasses are designed wi/improved audio. Meta AI, an integrated artificial intelligence assistant has been built into the smart glasses as well, to provide hands-free help. The starting price for the new Ray-Ban Meta smart glasses is $299.
    A family in Norway unearthed more than they were expecting when they used a metal detector to search their yard for a lost earring. Instead of finding the modern jewelry, they detected a signal beneath a large tree behind their house. And when they dug down, they discovered relics from a Viking burial, 2 bronze ornaments that experts say were once covered in gold. The artifacts may be the first Viking Age (A.D. 793 to 1066) finds on the island of Jomfruland, thus confirming that people lived there at that time.

    Oil prices rose on Friday, but posted their steepest weekly losses since March; Russia’s government on Friday said it had withdrawn a ban on diesel exports delivered to sea ports via pipelines, removing a large chunk of restrictions it put in place last month; Long-term U.S. mortgage rates continued to move up this week, reaching the highest level in a generation once again.

    The post October 8: War Breaks Out Israel, Tesla Drops Prices AGAIN, Housing Mkt Collapse? (Recap ep247) appeared first on Investing & Day Trading Education: Day Trading Academy.

    15 min
  • October 1: Robert F Kennedy to run as independent, Super Volcano Italy 100 earthquakes, USA tests Emergency broadcast system (Recap ep246)

    In this week’s recap, Marcello talks about the U.S. presidential hopeful Robert F. Kennedy Jr. shift from his Democratic Party bid to run as an independent and a leading volcanologist has warned that mass evacuations might be needed in a town close to Naples, Italy which sits on a so-called Super Volcano that has been hit by 100’s of small earthquakes in recent weeks.

    U. S. presidential hopeful Robert F. Kennedy Jr. will announce he is running as an independent instead of pursuing his bid to oust President Biden as the Democratic Party nominee, a shift that will complicate the 2024 election. Anti-vaccine activist Kennedy, a member of a Kennedy U.S. political dynasty, posted a video on YouTube on Friday asking Americans to join him for a major announcement in Philadelphia on Oct. 9.

    Argentina battling a looming recession & dwindling reserves of foreign currency saw poverty hit 40.1% in the 1st half of 2023, or nearly 12M people, official data on Wednesday showed. That is up from just over +39% at the end of last year. The crisis has hammered the center-left Peronist government & its presidential candidate, Economy Minister Sergio Massa, while anti-establishment right-wing candidate Javier Milei is way up in the polls. Conservative Patricia Bullrich makes up the trio of front-runners ahead of the Oct. 22 vote.
    The market for gold bullion in China has surged this month, at times commanding a record premium over international prices of more than $100 an ounce, compared with an average over the past decade of less than $6. On Wednesday, an ounce of gold in Shanghai cost $2,007, about 6% higher than the price in London or New York, according to analysts. It is being caused by rising demand among investors & everyday citizens who are dealing with a domestic property crisis, a falling yuan & tumbling bond yields as the government attempts to stimulate the economy.
    Auto company sources say President Biden’s support for a 40% pay hike may make it harder to reach a compromise with the UAW. Talks are not advancing this week as attention is focused on Biden & Trump, they said. Tesla CEO Elon Musk weighed in on social media platform X, saying the 40% pay hike & shorter work hours (from 40 to 32) are a sure way to drive the major auto companies bankrupt. Tesla’s factories in contrast to date, are not unionized.
    Austria, France, Germany, Poland & Switzerland announced their hottest Septembers on record on Friday, in a year expected to be the warmest in human history as supposed climate change accelerates. Higher temperatures are likely to be on the horizon as the El Niño weather phenomenon,which warms waters in the southern Pacific & beyond, has only just begun.
    New York City experienced torrential downpours on Friday, after a week of mostly steady rainfall bringing about flash flooding to the city, disrupting subway service, inundating ground-level apartments & turning some streets into small lakes. Almost 8 inches (20 cm) of rain fell in some parts of the most populous city in the U.S., enough to enable a sea lion at Central Park Zoo to swim briefly out of the confines of her pool enclosure. Another few inches could fall in the region, before the storm system will be pushed out to sea later in the evening, according to forecasters.

    Gold is seeing its worst monthly losses since February;Germany to introduce new border controls with Poland & Czech Republic.

    The post October 1: Robert F Kennedy to run as independent, Super Volcano Italy 100 earthquakes, USA tests Emergency broadcast system (Recap ep246) appeared first on Investing & Day Trading Education: Day Trading Academy.

    14 min
  • September 24: Apple Iphone is killing you, Inflation creeps up, Fed stays the same (Recap ep245)

    In this week’s recap, Marcello talks about how the electromagnetic wave emissions coming from the iPhone 12 have been tagged as risky, and therefore they have been pulled out of the market in Europe. Inflation is still on its way up, and the federal reserve of the US is keeping its interest rates at the same level.

    The possible U.S. government shutdown that some Republicans are insisting might be necessary, could slow 1 of their other priorities which is the recently launched impeachment inquiry of Democratic President Joe Biden. Republican House of Representatives Speaker Kevin McCarthy launched the inquiry on Sept. 12, an escalation after months of probes into Biden’s son, Hunter Biden, with the first hearing set for Sept. 28, two days before the shutdown deadline. The inquiry is focused on Biden’s son Hunter’s foreign business dealings. House Republicans alleged that the elder Biden benefited from his son’s work.

    Oil surged to a 10-month high on Tuesday after rising on Monday, extending a powerful rally that is rekindling inflation, as supply cuts from OPEC+ further tightens the market & Saudi Arabia’s energy minister demurs away from any change in course. Global benchmark Brent topped $95 a barrel, for the 1st time since November. The tighter market is bringing predictions that $100.00 a barrel for crude, could soon return.

    Germany is likely to generate +50% of its power from renewable energy this year, but needs to ramp up the speed of its transition towards the end of the decade, Economy Minister Habeck said Monday. With demand for electricity on the rise, renewables will have to account for 80% of power generation by 2030. The economy minister, whose portfolio includes energy & climate action, spoke of a boom in the solar power industry, with this year’s target of achieving 9-gigawatt capacity expected to be reached. The expansion of onshore wind energy is also progressing w/2022’s full-yr volumes already reached by the end of July 2023.

    Turkish President Erdogan asked Tesla CEO Elon Musk to build a Tesla factory in Turkey, the country’s communications directorate said on Monday. It cited Musk as saying that many Turkish suppliers are already working with Tesla & that Turkey was among the most important candidates for its next factory.Tesla did not immediately respond to requests for comment. Tesla shares are up nearly 123% so far this year, with a market cap of $870.91B & the automaker on Saturday said it had produced its 5 millionth car.

    The post September 24: Apple Iphone is killing you, Inflation creeps up, Fed stays the same (Recap ep245) appeared first on Investing & Day Trading Education: Day Trading Academy.

    19 min
  • September 17: Biden impeachment, Tesla Dojo supercomputer, Food Inflation 57% (Recap Ep244)

    In this week’s recap, the USA Consumer Price Index (CPI) rose sharply by 3.7% in August compared to the previous year, exceeding expectations and sparking concerns about inflation. This figure was significantly higher than the 3.2% annual increase reported earlier. Food prices at employee sites and schools also saw a staggering year-on-year increase of 57.6%. To address inflation, Subway introduced a novel approach by launching a three-inch sandwich. Additionally, the US dollar strengthened to a six-month high.

    In the world of cryptocurrency, FTX, a major exchange, filed for bankruptcy, revealing $7 billion in assets, including valuable properties in the Bahamas. Meanwhile, Bitcoin experienced a 3.29% increase, reaching $26,629. The oil market hit a 10-month high, with concerns about a potential global supply deficit of over 3 million barrels per day. Researchers reported a significant discovery of lithium deposits within an extinct volcano in Nevada, potentially rivaling Bolivian salt flats. Malaysia announced plans to follow China and other Asian nations by banning the export of rare earth raw materials.

    Gold and silver prices remained relatively stable, with minor fluctuations, while the US Labor Department reported a notable increase in consumer prices, potentially leading to a Federal Reserve interest rate hike. The European Central Bank (ECB) raised its key interest rate to a record high of 4%, signaling concerns about economic stagnation in the Eurozone. In political news, the US House Speaker initiated an impeachment inquiry against President Biden, raising the possibility of removing a Democratic president. In economic news, Germany faced the prospect of a prolonged recession in 2023, making it the sole major Eurozone economy experiencing contraction. The extended strike by the United Auto Workers (UAW) union had adverse effects on inflation and the US economy, potentially pushing Michigan into a recession. Retail sales in both the US and China remained positive but showed signs of slowing growth.

    META (formerly Facebook) revealed plans to develop an advanced AI system, aiming to surpass even OpenAI’s most advanced model, Llama 2. American Airlines reduced its Q3 profit estimates due to higher fuel prices and an agreement with the pilots’ union, resulting in a 5.7% drop in shares. BMW announced a £600 million ($750 million) investment in its UK plants to transition the Mini brand to an all-electric lineup by 2030. Tesla experienced a significant rally after Morgan Stanley projected that its Dojo supercomputer could drive a $600 billion surge in market value, facilitating advancements in robotaxis and software services.

    Internationally, Morocco endured its deadliest earthquake since 1960, with thousands killed and injured. Russian President Putin indicated a readiness for a long war in Ukraine, stating that any ceasefire would be used for rearming, and he reiterated that the US would continue to view Russia as an adversary, regardless of the 2024 US election outcome. Over 5,000 people were presumed dead and at least 10,000 were missing in Libya following devastating floods. The US waived sanctions to enable the transfer of $6 billion in Iranian funds from South Korea to Qatar, a step necessary for a previously announced US-Iran prisoner swap. Finally, a UFO hearing in Mexico’s congress stirred controversy, with critics labeling it a stunt and questions arising about alleged alien remains found in Peru.

    The post September 17: Biden impeachment, Tesla Dojo supercomputer, Food Inflation 57% (Recap Ep244) appeared first on Investing & Day Trading Education: Day Trading Academy.

    15 min
  • September 10: Matrix attacks Elon Musk, Sugar shortages looming, India abandons dollar-Collapse? (Recap ep243)

    In this week’s recap, Marcello talks about an attack suffered by Elon Musk because he allegedly ordered Starlink’s engineers to shut off its network over Crimea. Sugar shortages are on the horizon as India, one of the world’s biggest producers and consumers of sugar, has reportedly announced a shortage. India has officially set its first oil trade using rupees instead of US dollars.

    On Thursday a Ukrainian official is slamming Tesla & SpaceX CEO Elon Musk for ordering engineers to shut off Starlink’s satellite network over Crimea last year in order to thwart a Ukrainian attack on Russian warships based in the peninsula. In the early days of Russia’s invasion of Ukraine, as Western governments worked to supply Ukraine with artillery & air defense systems, the 1st of Musk’s Starlink terminals arrived in the country.The billionaire eventually soured on the arrangement, fearing his company would be responsible in escalating a war between Russia & Ukraine.

    Germany headed for a recession in 2nd half of 2023as it struggles with downturns in manufacturing & services. Battered by global headwinds & reeling from high energy prices, German manufacturing has fallen into a major downturn, that will likely push the entire economy back into at least a mild recession. The deterioration in business confidence, fall in new orders & broad-based drop in output pointed to contractions of -0.1% & -0.3% in coming quarters, with risks tilted to a steeper decline. Germany’s ifo Institute, confirms its forecast for an annual contraction of -0.4% in the German economy, followed by +1.4% growth in 2024.
    A powerful earthquake in Morocco has killed over 800 people & injured 100’s more, destroying buildings & sending residents of major cities rushing from their homes in the country’s deadliest tremor in over 6 decades.The magnitude 7.2 quake struck Morocco’s High Atlas mountains late on Friday night. The Interior Ministry said 820 people had been killed & another 672 injured, in an updated casualty toll.

    Initial claims for U.S. state unemployment benefits fell 13K unexpectedly to 216K.

    The post September 10: Matrix attacks Elon Musk, Sugar shortages looming, India abandons dollar-Collapse? (Recap ep243) appeared first on Investing & Day Trading Education: Day Trading Academy.

    17 min

About Day Trading Academy

From the publisher's feed

Everything you need to know to learn how to trade and invest in the stock. We are starting this podcast a weekly recap of the financial markets and economy in order to allow you to start to understand…