📈 Tesla's best day in 10 years

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Good Morning!

Tesla had its best day in over a decade, with shares soaring more than 20%. Meanwhile, IBM shares slid 6%, and Cathie Wood is buying more tech stocks.

Grab your iced latte and let's get into it! ☕️👇️

Markets

🚗 Tesla has best day in over a decade
Tesla just kicked off the "Magnificent Seven" earnings season with a bang, posting its largest quarterly profit in over a year. Shares skyrocketed more than 20%, marking Tesla's biggest single day jump since 2013, as Elon Musk forecasted a strong growth trajectory, predicting EV sales could climb another 20-30% in 2024.

📊 3 Stocks That Are Moving Markets Right Now
Mid-October earnings reports from top semiconductor companies and major banks have shaken up the markets. Key players are making big moves, with results that could set new trends across tech and finance. Here’s a look at the biggest movers impacting market momentum right now.

🤖 Cathie Wood buys $4 million of soaring stock
Cathie Wood, head of Ark Investment, is diving into mega-cap stocks again, this time picking up more Amazon shares on Monday. Known for her riskier small-cap holdings, Wood often uses larger tech investments like Amazon to bring stability to her funds. Her latest buy shows she’s still bullish on Amazon, even with its recent gains. So, what’s driving her confidence?

🇺🇸 Companies wrestle with when to merge as they assess Harris and Trump
Uncertainty around potential antitrust changes under a new administration is putting corporate mergers on hold until the 2024 election outcome is clear. Chip giant Qualcomm has hit pause on plans to acquire Intel, giving itself time to assess any shifts in antitrust enforcement and US - China relations that could affect the deal.

🖥️ IBM shares slide 6%
IBM’s third-quarter earnings beat expectations, but a revenue miss sent shares tumbling over 6% on Thursday. The Software segment shone bright with 9.7% year-over-year growth, hitting $6.5 billion, while its Red Hat division jumped 14%. However, the Infrastructure segment struggled, dropping 7% to $3 billion, and Consulting revenue stayed flat with signings down 4% YoY.

GLOBAL FINANCE

An Alternative to the US Dollar?

BRICS, the economic coalition of Brazil, Russia, India, China, and South Africa, recently unveiled plans to reshape the global financial system, aiming to reduce reliance on the U.S. dollar.

Russia, as 2024 chair, has introduced the BRICS Cross-Border Payment Initiative (BCBPI), proposing trade among BRICS nations in their own currencies. Alongside, BRICS plans to develop a secure, alternative messaging network to SWIFT, the U.S.-controlled financial communication system, to avoid Western sanctions.

At the recent summit, Russian President Putin emphasized that BRICS is not "rejecting" the dollar but is responding to restrictions placed on its use. Russia’s recent sanctions and financial isolation, especially since its 2022 actions in Ukraine, have driven Moscow to find workarounds like "BRICS Bridge," a new blockchain-based payments network.

Despite luke warm enthusiasm, the U.S. warns third countries that dealing with Russia’s economy could cost them access to dollar-based systems, leading many, including banks in Turkey and China, to cut back on deals with Russia.

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• Gold prices hit an all-time high

• ESGold stock is up over 50% this month

• Committed to eco-friendly mining practices

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