Most Important Fed Meeting Drops TODAY

WORD ON THE STREET 

• BRICS Could Grow By Six Countries – The BRICS economic bloc, often touted by Russia and China as a potential counterbalance to the West, is growing by six countries – that is, if all who are invited accept. They include Iran, Saudi Arabia, the United Arab Emirates, Argentina, Egypt, and Ethiopia. The bloc currently includes Brazil, Russia, India, China, and South Africa.

• Subway Has Been Sold – Quick trivia tip – the “fast food” chain with the most locations is not McDonald’s, as many think. It’s actually Subway, by quite a few thousand. So it may matter that Subway has been sold to the private equity firm Roark Capital. This could get awkward – Roark Capital also owns Jimmy John’s. Don’t make me choose!

• Disney Closes At 9 Year Low – Disney (DIS) was down by 3.9%, closing at a nine year low of $82.47 a share. The decline in pay-TV subscribers and its failing studio business are among the top reasons why, as well as softening demand at theme parks.

• Barbie The Highest Grossing Domestic Film Of 2023 – Oh no, there’s really going to be another MCU – a Mattel Cinematic Universe. “Barbie” from Warner Brothers Discovery has now made $1.3 billion gross this year. It will soon pass “The Super Mario Bros. Movie,” which made $1.35 billion. Childhood toys seem to be our main models for cinema now.

HOT SPOTS: What’s Going on in Geopolitics

• Dude, That’s Cold – Russian president Vladimir Putin offered his condolences on the death of Yevgeny Prigozhin. “First of all, I want to express my sincere condolences to the families of all the victims, this is always a tragedy,” he said. He called the departed mercenary chief a “talented man, a talented businessman” but admitted he was a “man of difficult fate, and he made serious mistakes in life.” Who knows, maybe it really was an accidental crash… HAHAHAHAHA, sorry, I couldn’t help it.
  

• China Bans Seafood Exports From Japan As Nuke Feud Escalates – In response to Japan releasing treated radioactive water from the Fukushima Nuclear Plant, China has banned all seafood exports from Japan. China’s customs agency claimed this would “comprehensively prevent the risk of radioactive contamination of food safety, protect the health of Chinese consumers, and ensure the safety of imported food.” Japan says its actions are safe and the International Atomic Energy Agency is monitoring the discharge.

• Ukraine Nears Military Breakthrough – Commander-in-Chief Valerii Zaluzhnyi told American officials that Ukrainian forces are nearing a breakthrough as they attempt to punch through Russia’s fortified positions. Ukraine has concentrated its forces in recent weeks, following American urging for a major attack on a single front. Both Ukraine and the United States are aware that foreign aid is likely to dry up if Kyiv can’t show results in the short-term.

CUTTING EDGE: What‘s Happening In Tech

• DOJ Sues SpaceX – I keep telling you guys, the feds have Elon in their sights. The Justice Department sued SpaceX, saying the company discriminated against asylees and refugees in hiring. “Through this lawsuit we will hold SpaceX accountable for its illegal employment practices and seek relief that allows asylees and refugees to fairly compete for job opportunities and contribute their talents to SpaceX’s workforce,” said Assistant Attorney General Kristen Clarke of the Justice Department’s Civil Rights Division.

• Hugging Face Hits $4.5 Billion Valuation – The AI startup Hugging Face, which calls itself “GitHub for machine learning,” picked up $235 million in a Series D fundraising round and now boasts a $4.5 billion valuation. Backers include Google, Amazon, Nvidia, Intel, AMD, Qualcomm, and IBM.

• AI To “Tone Police” The LAPD – Wasn’t this the plot of “Demolition Man?” Researchers in California will be using AI to study bodycam footage and judge whether officers “escalated” confrontations with the public through their tone or body language. “With this project, the Department hopes to gain valuable feedback to benefit our training, policies and practices,” said LAPD Cmdr. Marla Ciuffetelli. “This project also reflects our unwavering commitment to public transparency and accountability.” I’d rather they just stop the rampant street crime, but if this kind of stuff makes them feel happy, who am I to judge?

The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. Also, our traders are real traders and may have financial interests in the companies discussed. Please see our Terms and Conditions for more information