💳 Is THIS Company A Monopoly?

Good morning. US stock futures rose in Tuesday morning trading as the broad market indices notched new records.

💳 US DoJ set to go after Visa over allegations of card monopoly

📝 Our report: The U.S. Department of Justice is reportedly gearing up to sue Visa, accusing the payment giant of illegally hogging the country’s debit card market, according to Bloomberg News. The antitrust division is set to sue Visa in federal court, accusing it of various anticompetitive behaviors, the report said, citing unnamed sources.

 🔑 Key points:

• The Justice Department is preparing to accuse Visa of taking measures to prevent competitors from challenging its dominance in the debit card market, according to the report.

• In 2023, the DOJ's antitrust division issued an investigative demand to Visa, seeking documents and information about its debit card practices in the U.S. and competition with other payment networks.

• Visa's rival Mastercard has previously faced similar antitrust investigations regarding its U.S. debit program and competition with other payment networks.

💡 So what: If the U.S. Department of Justice sues Visa over monopoly allegations in the debit card market, it could have significant implications for both the payments industry and consumers. Visa could face heavy fines or be forced to alter its business practices, which may increase competition in the debit card sector, possibly lowering fees for businesses and consumers. On the other hand, this lawsuit could lead to tighter regulatory scrutiny across the financial services industry, especially in how major players control market share. A drawn-out legal battle might also shake investor confidence in Visa.

Tuesday - Consumer Confidence, Federal Reserve Governor Michelle Bowman Speaks

Wednesday - Federal Reserve Governor Adriana Kugler Speaks

Thursday - Federal Reserve Chair Jerome Powell Gives Opening Remarks, GDP (second revision)

Friday - Consumer Sentiment (final)

📈 These are Carlos Slim’s top 10 business lessons!

📟 Everything you need to know about stablecoins

💸 Here’s how you can eat healthy on a tight budget!

 📈 Get 5.1% APY For Your Extra Cash

Many of you ask where we’re putting our extra cash to earn the highest interest while still having access to it.

I’ve looked through plenty of high yield options and my top pick is Moomoo. It’s offering one of the highest yields available today at 5.1% APY.

And the best part? No minimum deposits, no cap on interests, and you can withdraw your cash at anytime.

Moomoo is offering Daily Market Briefs subscribers a limited-time deal: earn 5.1% APY on your cash and get up to 15 free stocks.

PS: Despite the funny name, Moomoo is a registered broker dealer with the SEC and is a member of SIPC meaning you’re insured up to $500,000.

✈️ Boeing makes “final offer” to union workers

WHAT: Boeing says it’s given union machinists a “best and final offer,” sweetening the deal with bigger raises and bonuses than the initial rejected proposal. The new offer -- and labeling it a final one -- demonstrates Boeing’s eagerness to end the strike by about 33,000 machinists that began Sept. 13. The company introduced rolling furloughs of non-unionized employees last week to cut costs during the strike.

WHY: Boeing's latest offer includes upfront pay raises of 12% plus three annual raises of 6% each. Boeing said average annual pay for machinists would rise from $75,608 now to $111,155 at the end of the four-year contract.

🛢️ California sues oil major

WHAT: California is taking ExxonMobil to court, accusing the oil giant of spending 50 years misleading the public by claiming recycling would solve the plastic pollution crisis. Attorney General Rob Bonta's office said that even with recycling programs, less than 5% of plastic is recycled into another plastic product in the U.S. even though the items are labeled as “recyclable.” As a result, landfills and oceans are filled with plastic waste.

WHY: Lately ExxonMobil has been promoting “advanced recycling” — also known as “chemical recycling” — and saying it will better turn old plastics into new products, the lawsuit states.

💲Crypto firm, regulator clash in court

WHAT: Coinbase and the U.S. Securities and Exchange Commission went head-to-head in a Philadelphia appeals court, with the crypto exchange pushing the regulator to finally get with the times and create rules for digital assets. Coinbase, the largest U.S. crypto exchange, sued the Securities and Exchange Commission last year in an effort to compel the regulator to act on a petition for rulemaking Coinbase filed in 2022.

WHY: The dispute is the latest in a broader tug-of-war between the crypto sector and the top U.S. markets regulator, which has repeatedly said most crypto tokens are securities and subject to its jurisdiction. The agency has sued several crypto companies, including Coinbase, for listing and trading crypto tokens which it says should be registered as securities.

✏️ DMB Insider Quiz ✏️

🧑‍💻 We read your emails and poll replies daily.

Hit reply and let us know what you want more of!

See ya next time, Daily Market Briefs