- Daily Market Briefs
- Posts
- 😬 China Isn't Going To Like This...
😬 China Isn't Going To Like This...
Good morning. US stock futures fell in Monday morning trading as investors awaited a slew of corporate earnings from big tech companies, as well as fresh economic data releases.
S&P 500 | Dow | Nasdaq |
---|---|---|
-0.13% | -0.16% | -0.07% |
"Large losses are almost always caused by taking too much risk"
Charles Ellis
Top News
US, China lock horns over chips...kinda
WHAT: From time to time the US likes to phone in some "favors". The latest request involves Uncle Sam asking South Korea to urge its chipmakers not to fill any market gap in China if Beijing bans chipmaker Micron from selling chips. In March, China's cyberspace regulator said it was conducting a security review of Micron's products sold in the country.
WHY: The US has imposed a series of export controls on chipmaking technology to China for fear it could be used to produce chips for military applications.
New US power plant rules coming
WHAT: Seems like the US government wants natural gas-fired power plants to clean up their act. The Biden Administration is looking into requiring these plants to install new technology to capture carbon emissions as part of its plan to decarbonize the power sector.
WHY: The US Energy Information Administration says that fossil fuels account for more than 60% of US electricity generation, with 60% of that coming from gas and 40% from coal. President Joe Biden has pledged that the power business will decarbonize by 2035.
Bed, Bath and Bankruptcy
WHAT: Uh oh, looks like Bed Bath and Beyond is hitting the snooze button on their financial situation. The company has filed for Chapter 11 bankruptcy in New Jersey, with plans to shut down, putting thousands of jobs on the line.
WHY: Bed Bath and Beyond estimated it had assets of $4.4 billion and debts totaling $5.2 billion as of late November according to a court filing. The company's crisis spiraled this year, starting in January when it said it had "substantial doubt" about its ability to keep operating.
This $100B Untapped Market Is Getting Transformed Now!
Mental health is a massively untapped $100B opportunity in an estimated $4.8T global wellness market.
After witnessing their mother’s mental health battle, two brothers decided something needed to be done. This is where Aura began, and today the company is on a mission to make mental health care accessible to all.
With 7 million users and 100K paying subscribers, Aura has secured investments from top firms like SkyDeck, Cowboy Ventures, and execs from Apple, Spotify, and Facebook.
Over 1000 people have already invested in Aura, so don’t miss out on this rare opportunity to back a rapidly-growing start-up transforming mental wellness.
[Closing in 4 days] Invest today before the rare opportunity ends.
Disclosure: This is a paid advertisement for Aura Health Regulation CF Offering. Please read the offering circular at invest.aurahealth.io
*Thanks to our sponsors for keeping this newsletter free
In Other News
Musk to entrepreneurs: We need more lithium!
WHAT: So here's the thing: Electric cars might be the future, but according to Tesla CEO Elon Musk, the industry faces one significant challenge -- there's not enough lithium currently being mined to make batteries for cars.
WHY: Musk, who was delivering comments on Tesla's earnings call took the opportunity to encourage entrepreneurs to get into lithium mining by saying: "Instead of making a picture sharing app, please refine lithium. Mining and refining, heavy industry is what's needed"
It's tough being a CEO in the UK
WHAT: It could well be said "heavy is the head that wears the crown" in the UK if you're a public company CEO. According to research by Russell Reynolds Associates, chief executive departures from companies in leading equities indices rose sharply in 2022, led by high turnover at UK-listed companies where exits from the top more than doubled.
WHY: London-listed companies accounted for one in five departures the research found, with 38 FTSE 350 executives stepping down in 2022, more than double the previous exits of the previous year.
Global IPOs show signs of life
WHAT: The global IPO market seems to be waking up from its nap and appears ready to run again. This year's rebound in the stock market has emboldened companies to test investor appetite for new public offerings.
WHY: According to data compiled by Bloomberg, roughly $25 billion worth of IPOs priced globally in March and April, nearly twice the amounts seen in the first two months of the year when listings virtually ground to a halt.
Key Economic Events
Monday - No Major Economic News
Tuesday - S&P Case/Shiller Home Price Y-o-Y
Wednesday - US Goods Trade Balance
Thursday - US GDP Growth Rate Q-o-Q
Friday - U. Of. Mich. Consumer Sentiment, Baker Hughes Rig Count
Notable Briefs
Want to think more like Warren Buffett? Here are 9 tips to pay attention to
Follow these 4 steps to improve your financial literacy!
These are 5 skills every entrepreneur should have!
How did we do on today's newsletter? Share your feedback. |
Reply