Zoom Booms As Company Crushes Earnings

WORD ON THE STREET 

• TSLA Pops By More Than 7% – Tesla made its largest one-day percentage gain since March 21, with the recent spotting of the Cybertruck for promotional material prompting investor enthusiasm. Baird analyst Ben Kallo also highlighted other “potential upcoming catalysts” like the wide-scale adoption of Full Self Driving which could give the company a boost.

• Biden Administration Warns Americans To Leave Belarus – The State Department has characterized Belarus as a Level 4 risk, the highest security warning. The Biden Administration is warning Americans to leave the country immediately, as neighboring countries are building up forces to guard against incursions by the paramilitaries of the Wagner Group. The mercenaries fled there after the abortive coup in Russia.

• Get Ready For The World’s Most Famous Mug Shot – “Can you believe it?” posted former president Donald Trump on Truth Social. “I’ll be going to Atlanta, Georgia, on Thursday to be ARRESTED.” ‘45’s bail has been set at $200,000 and he is also prohibited from “intimidating” people on the case… but the former president is likely to test what that means that on social media. We don’t know what will happen next, but we can guess that the mug shot will be used liberally by both sides in the upcoming election. Donald Trump remains the easy frontrunner for the Republican nomination.

• $80K Or I Walk – And I got my start working for minimum wage… employers have raised the average full-time offer for new workers to $69,475. However, the “reservation wage,” meaning the minimum acceptable salary offer to switch jobs, is now $78,645. The cost of living is going up, and workers’ demands are going up with it.

HOT SPOTS: What’s Going on in Geopolitics

• Former Thai PM Returns From Exile – Thailand’s former Prime Minister, Thaksin Shinawatra, arrived back in his home country. It might not have been a great move. He faces an eight year prison sentence for various crimes – but in the politically divided country, the state might not be strong enough to make him serve the time.
  

• Rice Prices Surge In Asia – The food supply has never really stabilized after Russia’s invasion of Ukraine. Now an already unstable Asia will have to deal with a new factor – surging rice prices. India’s export ban and other factors have pushed rice prices to their highest level in about 12 years.

• New American Destroyer To Get Hypersonic Weapons – The USS Zumwalt, the lead ship of a new class of vessels, has arrived in Pascagoula, Mississippi to be fit with the “Conventional Prompt Strike weapons system,” according to the Navy. The ship will be outfitted with hypersonic weapons and should be ready to be deployed by 2025.

CUTTING EDGE: What‘s Happening In Tech

• Arm Files For NASDAQ Listing – Chip designers are at the center of the global supply chain, so this one will get some attention. Arm, opened by Japan’s SoftBank (which has been having a hard time lately), is filing for an IPO on Nasdaq. SoftBank has been unable to sell the British chipmaker, whose products are used by some of the world’s leading companies, including Amazon and Alphabet.

• Don’t Worry, This Won’t Be Controversial – I’ve got a great idea, bring this up at Thanksgiving! The FDA has approved an RSV vaccine for expectant mothers. RSV is a dangerous disease for newborns, and the FDA touted findings that found the vaccine was more than 69% effective in lowering the risk of severe respiratory tract illness six months after birth.

• New Cyperpunk Dystopia Law Just Dropped – “Child influencers,” a term that makes me question whether our civilization is a good thing or not, now have their own law. Illinois is the first state in the Union to pass a law protecting social media influencers under 16, making sure their earnings are not stolen by parents or others. They will now be guaranteed at least a percentage.

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