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Day Trading Academy

By Marcello Arrambide: Founder - Day Trading Academy Learn to TradeBusinessEducationInvesting
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Day Trading Academy episodes

  • August 27: Masks are back! Trump Mug Shot, India Restricts Sugar Exports (Recap ep242)

    In this week’s Recap, Marcello talks about the possibility of the return of the mask mandate in the US; A picture of a mugshot of former president Trump has gone viral in the internet; India is restricting the exports of sugar due to the reduced local production, this adds up to its restriction on rice exports.

    Brazil’s President called on the BRICS nations to create a common currency for trade & investment between each other, as a means of reducing their vulnerability to dollar exchange rate fluctuations. Officials & economists have pointed out the difficulties involved in such a project, given the economic, political & geographic disparities between the present membership.

    In November 2019, a median new home price was $260,000, with a mortgage rate of 4%. The typical house payment including insurance & taxes was $1,700.00. A household income of $60,000 could usually qualify for buying a new home. At present that same house now costs $436K. With a 30 year mortgage at a +7% interest rate the typical payment is $3,700 a month. That necessitates a household income of $115K. As a result, home ownership has become out of reach for many middle class Americans.
    Foreign firms trying to leave Russia are facing a big jump in costs as the gov’t there is demanding bigger discounts on assets to be sold. Russia has tightened exit requirements since Western firms started leaving soon after Russia’s invasion of Ukraine. Executives say navigating the rules is becoming more difficult. Russia already demands a 50% discount on all foreign deals after consultants selected by the Russian gov’t have valued the business. Russia also requires a contribution to the Russian budget of at least 10% of the price. Foreign companies have already been hit by losses of more than $80B from their Russian operations.
    Brazil to become the world’s top corn exporter, reflecting both a bumper harvest & logistical breakthroughs such as the consolidation of northern export routes, which are boosting its competitiveness. Corn exports through Brazil’s northern ports, which use the waterways of the Amazon basin, are on track to beat volumes via the most traditional port of Santos for a 3rd year. The shift underscores how Brazil, which churns out 3 corn crops per year & still has huge expanses of under-used farm land, is finally overcoming some of the infrastructure bottlenecks that have long made it hard to get its harvests to global markets.
    U.S. chip-maker NVIDIA climbed another +3.17% on Wednesday at $471.16 ahead of its quarterly report set for release after the bell. Expectations were high for the chip-maker after its shockingly positive forecast in the prior quarter. NVIDIA has been one of the biggest winners on the back of the artificial intelligence boom. The stock rose another +3% on Thursday at $486.39, after reaching a high of $502.66. after the company reported a beat on both the top & bottom lines as well as offering strong guidance for the upcoming quarter.
    10 people have been killed in a private jet crash north of Moscow with the Russian Civil Aviation Authority saying Yevgeny Prigozhin, the head of the Wagner Group was on the passenger list. Multiple videos posted on social media appear to show the jet crashing. Prigozhin, who is believed to have been on board the flight, shared his 1st video address since his aborted June mutiny which threatened President Putin’s grip on power, just 2 days ago. The mercenary chief, who was sent to Belarus in the aftermath of his march on Moscow, released footage of himself speaking while wearing camouflage & holding a rifle.

    U.S. mortgage applications fell to their lowest level since 1995 this week, as interest rates surge. A 30 year mortgage is 7.23%, the highest level in 23 years; US Discount retailer Dollar Tree said customers’ shopping lists have largely narrowed to food & necessities.

    The post August 27: Masks are back! Trump Mug Shot, India Restricts Sugar Exports (Recap ep242) appeared first on Investing & Day Trading Education: Day Trading Academy.

    18 min
  • August 20: Michael Burry bets $1.6 Billion against market, Another Bank Failure, Tesla 6 days of losses (Recap ep241)

    In today’s Recap, Marcello talks about how the reknown investor, Michael Burry, best known for his massive profits achieved during the housing crash of 2008, has put a billionaire bet against the market; more banks are failing; and Tesla’s shares have had a recent negative strike of six consecutive days.

    Friday was the 6th straight session of losses for the electric vehicle maker Tesla stock fell another -1.70% at $215.49, at a length not seen this year. Tesla last saw a losing streak of that length in December, when the stock tumbled for 7 consecutive days. The 2023 losing streak began Aug. 11, when shares ended 1.1% lower. Each day has brought a substantial leg down, with shares losing no less than 1% each session since. Shares have fallen over 19% so far in August. But it has still been a strong year even accounting for the recent pullback, with shares up nearly 75% in 2023, but remains down -27.36% y/y, with a market cap of $695.8B.

    Argentine voters rebuked the 2 main political forces in a primary election, pushing a libertarian outsider candidate into 1st place towards presidential elections in Oct. With some 90% of ballots counted, far-right libertarian economist Javier Milei had 30.5% of the vote, far higher than predicted, with the main conservative opposition bloc behind at 28% & the ruling Peronist coalition in 3rd place at 27%. The center-left Peronist coalition & the main Together for Change conservative opposition bloc have both lost the confidence of many voters, w/inflation at 116% & a cost-of-living crisis that has left 4 in 10 people in poverty
    On Thursday, China’s struggling property giant Evergrande Group, the world’s most indebted property developer filed for Chapter 15 bankruptcy protection in a U.S. court. In a filing to the Manhattan bankruptcy court, the firm referenced restructuring proceedings in Hong Kong, the Cayman Islands & the British Virgin Islands. The property developer defaulted in 2021 & announced an offshore debt restructuring program in March. Trading of Evergrande shares have been suspended since March 2022. In July, the firm posted a loss of $81B over the past 2 years, after struggling to finish projects & repay suppliers & lenders.
    China’s push to control its exports of gallium has sent international prices for the metal used in semiconductors to a 10-month high, with prices up 50% since early July, as suppliers await official approvals to ship overseas. Chinese producers of the niche metal need permission to ship abroad under rules effective from Aug. 1. While some exporters have filed for approval, they expect the process could take several weeks, according to people with knowledge of the issue who declined to be named because the information is not public.
    China’s fertility rate was already one of the world’s lowest, alongside South Korea, Taiwan, Hong Kong & Singapore. China’s fertility rate is now estimated to have dropped to a record low of 1.09 in 2022, the National Business Daily reports, a figure likely to unnerve officials as they try to boost the country’s declining number of new births. The state-supported Daily said the figure from China’s Population & Development Research Center, put it as having the lowest fertility level among countries with a population of over 100M.

    Canadian fire crews on Thursday battled to prevent wildfires from reaching the northern city of Yellowknife; The U.S. is preparing to accelerate its complaint that Mexico’s ban on genetically modified corn violates the nations’ free-trade deal.

    The post August 20: Michael Burry bets $1.6 Billion against market, Another Bank Failure, Tesla 6 days of losses (Recap ep241) appeared first on Investing & Day Trading Education: Day Trading Academy.

    19 min
  • August 13: Space Tourism Starts, Food Prices explode 250%, Warren Buffet Reports RECORD Profit (Recap ep240)

    In this week’s recap, Marcello talks about how the Richard Branson dream of space tourism has become a reality with its first “flight” with space tourists completed this week; Food prices keep rising amidst supply concerns; Berkshire Hathaway posted its highest ever quarterly operating profit, while gains from stock holdings helped the conglomerate led by billionaire Warren Buffett swing to a nearly $36 billion overall profit.

    Virgin Galactic, the space tourism company founded by British billionaire Richard Branson, finally launched its 1st round of space tourists, a major step toward delivering on decades of promises. The company’s rocket-powered space plane, VSS Unity, took off from a New Mexico spaceport attached to a massive twin-fuselage mother-ship.It carried 3 customers. Virgin Galactic has a backlog of about 800 tickets already purchased, including 600 at prices up to $250K & another couple hundred at $450K per ticket.

    Rice prices soared to the highest in nearly 15 years in Asia midweek, on mounting concerns over global supplies, as dry weather threatens production in Thailand & after top shipper India banned some exports. Thai white rice 5% broken, an Asian benchmark, jumped to $648 a ton, the most expensive since October 2008, according to data from the Thai Rice Exporters Association. That brings the increase in prices to almost 50% in the past year.
    China’s exports fell -14.5% year-on-year in July, while imports contracted -12.4%, customs data showed on Tuesday, in the worst showing for outbound shipments from the world’s 2nd-largest economy since February 2020. Economists expected a -12.5% slide in exports & a -5% drop in imports. Total trade for July came in at $482.92B, a 13.6% fall year on year, while the country’s trade surplus stood at $80.6B, down -19.4% compared to July 2022.
    In Australia 3 potential strikes at 3 major liquefied natural gas facilities could disrupt about 10% of global exports of the fuel & deliver a new energy price shock across both Asia & Europe. Workers at Chevron Corp & Woodside Energy LTD facilities in Australia, have voted to approve industrial action at the North West Shelf, Wheatstone & Gorgon operations & some walkouts could begin as soon as next week under labor rules.
    The assassination of Ecuadorian presidential candidate Fernando Villavicencio shocked the country, where rising drug-related violence is a major concern for voters, Villavicencio, a vocal critic of corruption & organized crime, was killed on Wednesday during an evening campaign event in northern Quito. A suspect in the crime later died of injuries sustained in a shoot-out & 6 others have so far been arrested, the AG’s office said. 9 people, including a candidate for the legislature & 2 police officers, were injured, it added. President Lasso said after midnight, the crime was clearly an attempt to sabotage the election.
    The Labor Department reported on Thursday that the U.S. initial jobless claims rose, a seasonally adjusted 248K for the week ended Aug. 5, an increase of 21K & above an estimate for 230K. Continuing claims, which run a week behind, edged lower to 1.684M, below the estimate for just over 1.7M.
    At least 36 people have died after wildfires, fanned by winds from Hurricane Dora, 100’s of miles to the SW, had fanned the flames across the state., devastated much of the resort city Lahaina on Hawaii’s Maui island, the Maui County said in a statement. Multiple neighborhoods were burnt to the ground, as the western side of the island was nearly cut off, with only 1 highway open & over 11K evacuated, as officials told of widespread devastation to Lahaina, its harbor & surrounding areas. Some people fled into the ocean to escape the smoke & flames. The airport remained open to help the populace escape.
    Household spending in Japan fell -4.2% in June year on year, a steeper fall than the 4% recorded in May, thus reflecting a 4th straight month of decline, according to official data. Food still made up the largest proportion of household spending, the largest fall was spending on furniture & household utensils, down -17.6% year on year. The average monthly consumption expenditures per household for June was 275,545 yen ($1,932.41), while the average monthly income per household stood at 898,984 yen in June, down -5.6% from the previous year.
    According to the Mega Millions website someone from Florida purchased a ticket with all six matching numbers on Wednesday August 08th good for the top prize of up to $1.58B. The top prize bumped up to nearly $1.6B after no one got the 6 matching numbers for last week’s drawing. It is the 2nd-largest lottery reward won by a single person in U.S. history, although the final amount the winner will get to take home will be far smaller after taxes & other deductions are taken into account.

    U.S. inflation higher in July, breaks a 12-month streak of slowing consumer price increases; Oil prices hit new peaks on Wednesday with the global Brent benchmark touching its highest since January; China’s CPI for July, declined by -0.3% year-on-year, smaller than the 0.4% expected by economists polled. The last time China recorded a fall in its inflation rate was in February 2021; Italy’s cabinet approved a whopping 40% windfall tax on lenders’ profits for the remainder of 2023.

    The post August 13: Space Tourism Starts, Food Prices explode 250%, Warren Buffet Reports RECORD Profit (Recap ep240) appeared first on Investing & Day Trading Education: Day Trading Academy.

    16 min
  • August 6: World Food Prices Spike, Best year stocks in 26 years, Chinese Bio Lab found in California (Recap Ep239)

    In the stock market, an impressive performance was witnessed with the best July performance in 26 years, dating back to 1997. However, analysts are anticipating a 7.1% earnings decline from a year ago, signaling a third consecutive quarter of falling profits.

    In the cryptocurrency realm, Kenya suspended the Worldcoin ‘eyeball scan’ crypto project due to safety concerns, reflecting the growing regulatory scrutiny surrounding digital currencies.

    Commodities experienced significant fluctuations, with world food prices seeing the most substantial increase in 1.5 years. Oil prices also surged, indicating a tightening market, especially as Saudi Arabia and Russia extended supply cuts through September. Additionally, there are plans to introduce a new gold-backed currency by BRICS.

    Financially, MyEListing.com utilized IRS migration data to reveal that California and New York lost $343 million and $299 million, respectively, in 2021. Furthermore, US government spending on interest is now close to $1 trillion on an annualized basis, surging by about 50% over the past year.

    In the political sphere, a mysterious Chinese bio-lab was discovered in a remote California city, raising concerns about genetically engineered mice carrying COVID-19 living in inhumane conditions. Iran shut down for two days due to ‘unprecedented heat’, reaching over 123F (51 C) in the southern city of Ahvaz.

    Corporate news showcased mixed results, as companies with good ESG scores were found to pollute as much as low-rated rivals. While some companies performed well, others experienced fluctuations in share prices, like Paypal and Nintendo.

    AMD plans to invest about $400 million in India to establish its largest design center and add around 3,000 engineering roles, aiming to expand its presence in the country.

    In trade news, Ukraine and Croatia agreed on the possibility of using Croatian ports for the export of Ukrainian grain through the Danube and the Adriatic Sea.

    In the technology sector, new treatments for Alzheimer’s disease are showing promise by removing toxic proteins from the brain. However, experts are now emphasizing the need to consider the different impacts on various populations.

    Lastly, in investment news, California spent $17.5 billion on the homelessness crisis, but the homeless population continued to grow, leading to discussions about alternative solutions to address the issue effectively.

    The post August 6: World Food Prices Spike, Best year stocks in 26 years, Chinese Bio Lab found in California (Recap Ep239) appeared first on Investing & Day Trading Education: Day Trading Academy.

    15 min
  • July 30: Prepare for Blackouts! Massive Heatwave, Another Bank Collapses, Cities Bankrupt Next? (Recap ep238)

    In today’s recap, Marcello tells us to be prepared in case of possible blackouts due to the heat wave affecting the world and especially the eastern US states. Another bank has collapsed in Kansas, making it the 5th US Bank to fail this year.

    Worldcoin, a digital ID project co-founded by ChatGPT founder Sam Altman, is set to launch its own crypto token.PJM Interconnection LLC has declared a level one emergency for the 13-state eastern US grid and called on all power plants to operate at full capacity Thursday during a heat wave.

    South Africa beats climate goals as 10 hours per day of electricity blackouts and coal plant breakdowns slash emissions. This is apparently unintentional, but wildly successful way of meeting international climate targets by 2030.On Monday, orange juice futures rocketed to an all-time high due to global supply concerns among agricultural traders.
    The citrus greening disease continues to affect Florida and is spreading in Brazil; both regions are top producers, and a potential production loss from these areas could significantly tighten global supplies. 
    The U.S. Federal Reserve Bank pushed interest rates to a 22-year high on Wednesday, with an additional 25 bps that’ll bring its key rate to +5.25% to +5.50%. It’s still not enough for the central bank to declare victory on historic inflation quite yet, but the Consumer Price Index (CPI) is now down to +3% from a high of over +9% seen last summer.
    U.N. Secretary-General António Guterres said on Thursday that scientists believe the world is on track for July 2023 to be the world’s hottest month on record. The U.N. World Meteorological Organization (WMO) and the European Union’s Copernicus Climate Change Service also said in a joint statement it was extremely likely July 2023 will break the previous record set in July 2019 and will be at least +0.2C (+0.4F) warmer, the former hottest in the 174-year observational record, according to EU data.
    U.S. poultry producers say they face prolonged economic pain from avian flu despite going months without infections in flocks, as China and some smaller importers fail to lift trade bans implemented during the nation’s worst ever outbreak of the virus. The lingering bans imposed last year to prevent the spread of the disease have constrained the $6 billion U.S. export market for poultry meat, as producers also wrestle with limited labor, lower chicken prices, and uncertain costs for feed.
    Tesla has expressed an interest in building a factory in India that would produce low-cost electric vehicles (EVs) for the local market and for export.

    LeBron James’ 18-Year-Old Son Suffers a Heart Attack During practice, 18-year-old Linda Caicedo from the Colombia National Soccer Team collapsed on the field.

    The post July 30: Prepare for Blackouts! Massive Heatwave, Another Bank Collapses, Cities Bankrupt Next? (Recap ep238) appeared first on Investing & Day Trading Education: Day Trading Academy.

    16 min
  • July 23: Digital ID connected CBDS, “mostly peaceful” tornado destroys Pfizer, Lab grown meat approved USA (Recap ep237)

    In this week’s recap, Marcello talks about a global digital currency that will be linked to a global digital ID meaning your transactions can always be tracked; a “mostly peaceful” tornado destroyed 50,000 pallets of medicine when it hit a Pfizer plant in North Carolina, this will lead to shortages of anesthesia and other sterile injectibles; and the USA joins Singapore as the only countries approving “cell-cultured” meat for human consumption.

    India, the world’s biggest rice exporter accounting for some 40% of the global rice trade, banned shipments of non-basmati white rice to maintain domestic prices at comfortable levels, ahead of the general election due in early 2024. Domestic rice prices have increased over +8% this year alone. The government has halted overseas sales of the grain with immediate effect, but shipments will still be allowed on the basis of permission granted by India to other countries, to meet their food-security needs & based on requests from their governments.

    Oil prices are higher this shows a growing evidence of supply shortages that might be comming in the next months, also rising tensions between Russia & Ukraine could further hit supplies.

    Following the failures of several regional banks earlier this year, we’ve been closely monitoring the commercial real estate (CRE) sector, noticing increasing risks in the office space market. CRE lending standards have tightened considerably in response to the Federal Reserve’s aggressive interest rate hikes over the past sixteen months to combat inflation. The latest alarm bell of sliding CRE prices in downtown areas across major US cities is the sale of an office tower at One South Street in downtown Baltimore. The 30-story building was sold in June for $24 million, a 63.6% discount versus the tower’s 2015 sale of $66 million.

    Youth unemployment in China has hit a new record high as the country’s post-pandemic recovery falters.The jobless rate of 16 to 24 year olds in urban areas rose to 21.3% last month, official figures show.It comes as the world’s second largest economy grew just 0.8% in the three months to the end of June.

    Apple got an intraday record high thanks to their developing of propiretary AI tools; Biden admininistration is pushing a proposal to ban the sale of portable gas generators; Chinese GDP was lower than expected for Q2.

    The post July 23: Digital ID connected CBDS, “mostly peaceful” tornado destroys Pfizer, Lab grown meat approved USA (Recap ep237) appeared first on Investing & Day Trading Education: Day Trading Academy.

    11 min
  • July 16: Mark of the Beast is here, Crypto explodes, New A.I company Elon Musk (Recap Ep236)

    In this week’s recap, the global market ended generally positive. Binance, one of the largest cryptocurrency exchanges, announced layoffs of over 1,000 employees. On a positive note, Europe is set to launch its first spot Bitcoin exchange-traded fund (ETF) this month. Ripple’s XRP experienced a surge of 74%, reaching $0.81 per coin, after a US judge ruled that it may not necessarily be considered a security. The broader cryptocurrency market also saw positive movement, with altcoins like Polygon’s matic token, Solana, and Cardano’s token experiencing notable increases. Bitcoin and Ether, the two leading cryptocurrencies, also received a boost.

    In the commodities sector, the demand for cobalt, copper, lithium, and nickel is projected to double as current operations may need to increase from 500 to 900 mines to meet battery demand. Orange juice exports from Brazil to the US saw a significant increase of 55% over the past year, leading to record-high prices. On the energy front, oil prices rose due to fires in Mexico, disruptions in Libya and Nigeria, and a decline in the USD. Furthermore, India faced a tomato crisis as prices skyrocketed by 341% year-to-date.

    Moving to financial and banking news, there are concerns about rising inflation, food prices, and the increasing cost of college tuition. Food inflation has risen by nearly 17% in the past two years, outpacing income growth. The cost of college tuition has skyrocketed by 710% since 1983. Additionally, corporate bankruptcies reached their highest level since 2019, with 15 companies with over $1 billion in liabilities filing for bankruptcy in June. In the banking sector, Bank of America was ordered to pay $250 million for charging illegal fees and opening credit-card accounts without customer consent.

    In corporate news, Lucid, an electric vehicle manufacturer, saw its stock drop by 11.82% after falling short of analysts’ delivery estimates for its electric Air luxury sedans. However, Domino’s stock surged by 11.09% to an 8-month high after announcing a partnership with Uber Eats and Postmates, potentially adding $1 billion in new sales. Beyond Meat also experienced a surge of 13.52% as its steak product became available in approximately 14,000 stores across the US. Elon Musk, the CEO of Tesla, announced the debut of a new artificial intelligence company called xAI, with the goal of understanding the true nature of the universe. Bob Iger, the CEO of Disney, had his contract extended by two years through 2026, amid the media industry’s transition to streaming and digital offerings. Additionally, SpaceX’s valuation reached nearly $150 billion following a share sale by existing investors.

    In trade news, India’s trade minister held talks in the UK regarding a potential free trade deal with Britain and met with ministers from the European Free Trade Association. Meanwhile, the US appeals court denied the Federal Trade Commission’s bid to pause Microsoft’s acquisition of Activision Blizzard, paving the way for the completion of the largest gaming deal in US history. Only UK regulatory approval stands between the deal and its closing before a July 18 deadline.

    Regarding international events, France witnessed the deployment of armored vehicles in Marseille as French riots spread to Switzerland and Germany. Poland began moving over 1,000 troops eastward in response to security concerns, and Russia claimed that Ukraine had suffered significant losses in a counter-offensive. In Colombia, the government reached an agreement to begin peace talks with a faction of FARC rebels who had previously rejected a 2016 peace agreement. The US Northeast faced devastating floods, resulting in significant economic losses and transportation disruptions. Moreover, intense heatwaves affected large parts of the United States, with temperatures nearing 130°F (54°C) and over 93 million people under heat warnings and advisories.

    The post July 16: Mark of the Beast is here, Crypto explodes, New A.I company Elon Musk (Recap Ep236) appeared first on Investing & Day Trading Education: Day Trading Academy.

    15 min
  • July 9: AI Robots for elderly, Govt gets censored, Flying cars coming soon (Recap ep235)

    In today’s recap, Marcello talks about a new AI Robot called Nadine, which has been upgraded with the AI Model GPT-3, improving its interaction and conversation skills. Its creator says it could be far more effective than human caregivers in tending to the sick and elderly. Several Fed agencies (like DHS, FBI, and DOJ) were prohibited from working with big tech to censor posts on social media. Alef Aeronautics, backed by Elon Musk, presented a pre-sale of their most recent “flying car”.

    In calculating the U.S. Gross Domestic Product (GDP) a fundamental shift occurred in 2022. For the first time in history, the South has pulled ahead of the Northeast $4.6 Trillion & $4.4T respectively. The Northeast region is identified as the states of Maine, New Hampshire,Vermont, Massachusetts, Rhode Island, Connecticut, New Jersey, Delaware, Maryland, New York & Pennsylvania. The South consists of the states Texas, Florida, Georgia, North Carolina, South Carolina & Tennessee.

    The average rate on the popular 30-year fixed mortgage hit 7.22% on Thursday. That’s the highest point since early November. U.S. mortgage rates follow loosely the yield on the 10-year Treasury, which leapt higher following a much stronger-than-expected employment report from ADP. Rates had already begun rising last week, following signals from U.S. Federal Reserve Bank Chairman Powell, that the central bank will likely continue raising interest rates following a pause in June to combat persistent inflation. The 30-year fixed mortgage rate has now risen 31 basis points in just the past week.
    In France 100’s of protesters marched in central Paris against police violence, a week after riots sparked by the killing of a teenager in a Parisian suburb. Police dispersed the crowd from Paris’s huge Place de la Republique. The riots were triggered by the June 27 fatal shooting by a police officer of 17-year-old Nahel M at a traffic stop. A police officer is under investigation for voluntary homicide; his lawyer says he didn’t intend to kill the teen.
    Backed by Elon Musk’s SpaceX Alef Aeronautics, can begin testing what it describes as a flying car after receiving an airworthiness credential from the Federal Aviation Administration. The electric car, which is designed to fit within existing urban infrastructure for driving & parking, has a flight range of 110 miles. Currently, Alef plans to begin production & initiate its 1st deliveries of Model A cars by the end of 2025. The car went on pre-sale in October, with each unit priced at $300K. To join the waiting list, customers must pay $150 or $1,500 for a priority spot.

    U.S. companies created far more jobs than expected, payroll processing firm ADP reported Thursday;a social robot powered by Artificial Intelligence (AI) with human-like gestures & expressions, could have an important future role to play in tending to the sick & elderly; It was reported on Thursday that Meta’s Threads received over 30M sign-ups within about 18 hours of its launch.

    The post July 9: AI Robots for elderly, Govt gets censored, Flying cars coming soon (Recap ep235) appeared first on Investing & Day Trading Education: Day Trading Academy.

    19 min
  • July 2: Australian banks restrict withdrawals, New York goes after Pizzas, Chaos in France (Recap ep234)

    In today’s recap, Marcello talks about how Australia’s largest bank has limited withdrawals to $667; the city of New York has ordered pizzerias to restrict the use of coal and wood-fired ovens to reduce carbon emissions by up to 75%; Strong protests in France have caused mayhem following the fatal police shooting of a teenager in Paris. Police have been trying to control the situation, but agitated crowds have been causing damage non-stop for the last couple of days.

    U.S. tech giant Apple climbed to yet another intraday record Thursday, touching a high of $190.07 & bringing its market capitalization to almost $3 trillion. In late day trading, Apple’s market value was about $2.98T. Based on the current number of shares outstanding, Apple will become a $3 trillion company, a level it’s never before achieved, when the stock reaches $190.73. The stock is up +45.92% in 2023 & +36.46% y/y.

    Data from China’s National Bureau of Statistics indicate that annual profits at China’s industrial firms extended a double-digit decline in the first 5 months as softening demand squeezed margins, reinforcing hopes of more policy support to bolster a stuttering post-COVID economic recovery. The +18.8% y/y slump in profits came on top of the +20.6% contraction in January-April, & added to evidence of an economy that was slowing on many fronts in May including retail sales, exports & property investment as youth jobless rate scaled a fresh high of +20.8%.
    The U.S. Supreme Court on Friday blocked the Biden administration’s student debt relief plan in a 6-3 decision, stopping over 40M borrowers from receiving loan forgiveness & delivering a major defeat to one of the president’s key campaign promises. Chief Justice John Roberts writing for himself & his 5 conservative colleagues, ruled that Congress had not authorized the executive branch to forgive debts that are estimated at $430B short-term & according to the Congressional Budget Office $1T over a decade.
    Eurozone inflation has fallen more than expected for the month of June. The figure came in at +5.5% , indicating that the fiscal tightening of the European Central Bank (ECB) could be starting to have the desired effect. Core inflation, which excludes food & energy, rose, however, coming in at +5.4%. The reading means that headline inflation is now at its lowest point since January 2022, but prices remain well above the (ECB’s) +2% target.
    Virgin Galactic completed its long-awaited 1st commercial spaceflight on Thursday. The space tourism company was founded by Sir Richard Branson in 2004. Virgin Galactic has a backlog of about 800 passengers. Many of those tickets were sold at prices between $200K & $250K over a decade ago, but the company reopened ticket sales 2 years ago, with pricing beginning at $450K per seat. The company continues to raise capital to fund development of its coming Delta class of spacecraft, aiming to build a fleet of vehicles that can each fly at least once a week.
    On Thursday the U.S. Supreme Court struck down race-conscious student admissions programs at Harvard University & the University of North Carolina in a sharp setback to affirmative action policies, often used to increase the number of Black, Hispanic & other underrepresented minority groups on campuses. The decision, powered by the court’s conservative justices with the liberal justices in dissent, was 6-3 against the University of North Carolina & 6-2 against Harvard. This means that race can no longer be considered a factor in university admissions.
    French President Macron battled to contain a mounting crisis on Thursday, after riots spread across the country, set off by the deadly police shooting of a teenager of North African descent during a traffic stop in Paris. Police made 180 arrests during 2nd night of unrest, Interior Minister Darmanin said, as public anger spilled onto the streets across France. Macron held a crisis meeting with senior ministers over the shooting & it was announced afterwards that 40K policemen would be deployed across the country, including 5,000 in the Paris region. This is nearly 4X the numbers that were mobilized on Wednesday evening.

    The U.S. Commerce Department reported on Thursday that corporate profits dropped for a 3rd straight quarter; The number of Americans filing new claims for unemployment benefits fell last week by the most in 20 months.

    The post July 2: Australian banks restrict withdrawals, New York goes after Pizzas, Chaos in France (Recap ep234) appeared first on Investing & Day Trading Education: Day Trading Academy.

    14 min
  • June 25: Tesla finds fortune, blackouts in Texas, Lab grown meat approved US (Recap ep233)

    In this week’s recap, Marcello talks about the recent events that is making Tesla, the automaker, at the top of the race in the electric vehicle contest; Operator of Texas’s power grid has wasked customers to preserve electricity to prevent blackouts facing the summer heatwave to come; US is the second country worldwide to give a green light on the production of Lad-grown meat.

    Shares of Tesla surged +5.34% on Tuesday at $274.45 with Rivian being the latest automaker to announce a deal to access Tesla’s Supercharger network in the US & Canada, starting in the spring of 2024. It was reported on Wednesday that Texas will be the 1st U.S. state to mandate Tesla’s electric vehicle (EV) charging system, in a huge win for CEO Elon Musk who is working towards making the connector the industry wide standard.

    FedEx Corporation traded lower Tuesday, after posting its fiscal 2023 Q4 results with shares falling -3.1% at around $223.00 in pre-market trading on Wednesday, after a revenue miss & weak profit guidance due to a continuously weakening demand & cost inflation pressures. The shipping giant reported total revenue of $21.9B for the quarter vs. $22.66B consensus. FedEx said it had already cut 29K US jobs over the past year, but issued a 2024 profit outlook that missed analyst expectations, as it continues to trim costs in the face of waning package delivery demand.
    Argentina’s presidential election battle lines have hardened further after economy minister Sergio Massa entered the race in a dramatic twist to take on front runners including a conservative city mayor, ex-security czar & libertarian economist. After months of behind-the-scenes negotiations, a deadline for candidates closes Saturday night, marking the serious start of a race towards Oct. 22 general elections, to choose a leader who can steer the country out of economic crisis, with inflation galloping over +100%, rising poverty & dwindling foreign currency reserves.

    Amazon said on Friday it will take its investments in India to $26B by 2030, adding $6.5B in new planned investments in an announcement made after CEO Andy Jassy met Prime Minister Narendra Modi in the United States. Although Jassy gave no breakdown, the announcement follows Amazon’s cloud computing unit Amazon Web Services (AWS) saying last month it will invest 1.06T rupees ($12.9B) in the country by the end of 2030.

    Beijing topped 40 degrees Celsius (104F) on Saturday for a record 3rd day as the Chinese capital sweltered in extreme heat, while uncommonly high temperatures for June, hit an area the size of California in northern China. Until Saturday, the city of nearly 22M people had never seen 3 consecutive days above 40C, since setting up the southern observatory in 1951.
    A debris field from the submersible Titan was found at the bottom of the North Atlantic on Thursday, by a robotic diving vehicle deployed from a Canadian search vessel, thus ending an intense 5-day international rescue effort.

    Bitcoin surged to its highest level seen since the start of May in Tuesday mid-afternoon trading; The German government & Intel are expected to sign a deal over the U.S. chip-maker’s planned factory in Dresden.

    The post June 25: Tesla finds fortune, blackouts in Texas, Lab grown meat approved US (Recap ep233) appeared first on Investing & Day Trading Education: Day Trading Academy.

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