Inflation Down, Stocks Up!

🏛️

Markets

European markets climb on U.S. inflation reading, China’s easing of Covid measures (3 minute read)The European blue chip index closed 2.8% higher following Thursday’s consumer price index print, which sent major averages stateside to their biggest one-day rallies since 2020. Markets are hoping the data could encourage the U.S. Federal Reserve to ease its aggressive monetary policy tightening. U.S. stock futures rose early on Friday, pointing to further gains on Wall Street, with investors also keeping an eye on outstanding results from the U.S. midterm elections.

Oil Prices Rise As China Eases Covid Restrictions (2 minute read)China announced on Friday an easing of its strict Covid measures that have weighed on the oil market in recent months, sending oil prices higher by more than 2.5% in early trade in Europe. The Chinese authorities said on Friday that quarantine times would be reduced for inbound passengers and close contacts of Covid-infected people while close contacts of close contacts would no longer be traced.

Global regulators circle Sam Bankman-Fried’s FTX exchange (5 minute read)Global regulators are closing in on embattled crypto exchange FTX as fallout spreads in digital asset markets and founder Sam Bankman-Fried pursues a last-ditch effort to raise up to $8bn in fresh funds. Authorities in Japan, Australia and the Bahamas, where FTX is based, have all taken actions as worries mount that customers in one of the world’s biggest digital asset venues could face severe losses.

Sudden $200 Billion Bitcoin And Crypto Price Crash Sparks Serious FTX SEC Warning (5 minute read)Bitcoin and other major cryptocurrencies have fallen sharply this week with traders left reeling by the shock collapse of one of the world's largest exchanges. The bitcoin price has crashed to lows not seen for two years, falling to just over $15,000 per bitcoin last night but having since recovered to around $17,000.

Amazon Surges the Most Since February on Cost-Cutting Review (2 minute read)Amazon.com Inc. shares gained 12% on news that Chief Executive Officer Andy Jassy has embarked on a review of expenses, part of broader efforts to streamline the world’s largest e-commerce company.

📈

Investing

How Do the Wealthy Invest? (6 minute read)Do the wealthy invest differently from everybody else? And, if so, what can we learn from them? A month ago Bank of America released their 2022 Private Bank Study of Wealthy Americans, which attempted to answer some of these questions. Their study (which took place from May-June 2022) asked 1,052 households with more than $3 million in investable assets how they invest and how they felt about different asset classes as well.

Gold Has Reached the Stage We All Dream About (4 minute read)If you look at the two other big inflationary episodes in history, the 1940s and the 1970s, you will notice that there were multiple waves of inflation stretching out over the course of years. We are currently on the back side of the first wave. It is my belief that the Fed will pivot, inflation will moderate for a time, and then we will get a second wave that is even bigger than the first.

💸

Money

Consuming Less (9 minute read)WE CONSUME AS THE PEOPLE AROUND US CONSUME. YOU OKAY WITH THAT? I’m sure I’ve mentioned this before, and lots of studies have shown it, but peer pressure—even when unintended—is powerful. Want to eat healthier? Hang out with people who eat healthy. Want to save more money? Hang out with people who save money. Want to learn how to camp? Hang out with people who camp.

🐥

Best of Twitter

Thanks for reading, if you enjoyed, tell your friends!

P.S: If you're interested in seeing more crypto and web3 - check out our new newsletter, The Crypto Journal!