Welcome to another BroStocks Friday newsletter! The wild fall of FTX dominated our newsfeeds, another crazy week of Elon Musk Twitter madness, and a potential rally after inflation eases?
Stocks & Economy
Dow Jones Soars 1,200 Points On Inflation Report: Why The Market Rally Has Room To Run(Investor’s Business Daily)
A cool down in the new CPI inflation report gave way to a market rally. To me, it feels too early to celebrate but the markets took it as a sign in the right direction…
Carl Icahn says he still thinks we are in a bear market despite Thursday’s rally(CNBC)
Probably too early to declare ourselves out of the woods…
Fed officials welcome inflation news but still see tighter policy ahead(CNBC)
Yep…too early….
Mortgage rates fall sharply to under 7% after inflation eases(CNBC)
But…mortgage rates did fall yesterday to 6.62%…still super high compared to last year though.
Elon Musk reportedly said Twitter could file for bankruptcy next year(Yahoo! Finance)
Man…what a wild ride…
‘He sold caviar to buy a $2 slice of pizza’ — Why Tesla investors are the biggest losers in Elon Musk’s Twitter deal(Market Watch)
With the Twitter deal, many Tesla believers feel it’s a giant distraction that has taken his eye off the greater ball. Given the news that keeps coming, it seems like a very fair point.
How Spotify stayed No. 1 in streaming audio even with Apple, YouTube and Amazon aiming for it(CNBC)
Kinda crazy if you think about it…
Personal Finance
Moving In Together Doesn’t Match the Financial Benefits of Marriage, but Why?(Wall Street Journal)
Married couples are four times as wealthy as unmarried couples who live together…this article breaks down the shocking gap between what on paper seems like two relatively similar situations.
This 33-year-old makes $14,600 a month in passive income: ‘I work just one hour a day’ on my online business(CNBC)
Who doesn’t like another clickbait side hustle article ahead of the weekend?
The median income to buy a home is $88,000– $40,000 more than before the pandemic(Market Watch)
The kind of story that inspires one to find a side hustle…
Crypto
‘I’m sorry, I f****d up.’ Sam Bankman-Fried needs $4 billion. Fast(Fortune)
The rapid fall of FTX has been a shocking and disturbing story. How did a crypto exchange with arena naming rights and a plethora of celebrity endorsements find itself on such risky footing? It’s an incredible rise especially as Coindesk reports it was a ‘cabal of roommates in the Bahamas’ running the company.
Crypto peaked a year ago — investors have lost more than $2 trillion since(CNBC)
TBT 🙁
‘They will come to a bad ending’: A year since its $69K peak, Bitcoin has plummeted more than 70% — here’s why Warren Buffett has hated cryptocurrency all along(MoneyWise)
Another reminder from the financial media that the ‘Oracle of Omaha’ has never liked crypto.
Life & Work
Sleepy at work? You might have ‘social jet lag’(Wall Street Journal)
This piece discusses a recent JAMA study that correlates the potential health impact of social and life obligations that take us out of our sleep rhythm.
Millennials Are Changing What It Takes to Succeed in Sales(Wall Street Journal)
The sales industry is changing as a new generation sets the tone.
Remove these five tech gadgets from your home(USA Today)
I must admit, I didn’t know an old cell phone could eventually…explode?
Retail & Commerce
Target pivots to larger stores with new 150K-square-foot format(Retail Dive)
Target’s going big…
Only 20% of consumers plan to shop on Black Friday: report (Retail Dive)
Check any app for any store or any of their promotional emails and you’ll know it’s been Black Friday since October. For us of a certain age, we remember the craziness of peak Black Friday, but life goes on and habits evolve.
12 digital natives that have learned to love old-fashioned retail(Retail Dive)
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