🥊 Who Just Took A Shot At Crypto?

Good morning. US stock futures fell in Tuesday morning trading as Wall Street awaited bank earnings that will provide a better glimpse into the state of the American consumer.

🤖 IMF MD: Crypto isn’t money

📝 Our report: International Monetary Fund (IMF) managing director Kristalina Georgieva isn’t quite sold on this whole crypto thing! In a recent interview, the IMF bigwig said she was reluctant to call crypto money.  

 🔑 Key points:

• "Our view is that we have to differentiate between money and assets. When we talk about crypto, we are actually talking about an asset class. It could be backed up and in that sense, more secure and less risky, or it could be not backed up and therefore a riskier investment. But it is not exactly money” Georgieva said in an interview with Yahoo Finance Live

• Georgieva's comments come as the US Securities and Exchange Commission paved the way for the debut of new spot bitcoin-backed ETFs recently.

• Average investors will now be able to gain exposure to the world’s largest cryptocurrency without having to own it.

💡 So what: Investing in cryptocurrencies can be both exhilarating and risky, requiring careful strategies to safeguard one's interests. Staying informed about market trends, news, and regulatory developments is essential, as crypto markets are highly volatile and reactive. Setting realistic goals and having a clear risk tolerance prevents impulsive decisions driven by short-term fluctuations. Secure wallets, especially hardware options, provide a robust defense against cyber threats. Vigilance against scams, phishing attempts, and unrealistic promises is also of paramount importance.

 Tuesday - Fed Gov. Christopher Waller Speaks

Wednesday - U.S. Retail Sales, Fed Vice Chair for Supervision Michael Barr Speaks, Fed Beige Book

Thursday - Atlanta Fed President Raphael Bostic Speaks

Friday - Consumer Sentiment (prelim), San Francisco Fed President Mary Daly Speaks

 📈 Planning on investing for the long-term? Follow these 6 principles!

💳 How does applying for a credit card affect your credit score?

🏠 US housing shortage might be easing

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🤖 CEOs worry about survival risk under AI

WHAT: Executives are catching a positive vibe about the global economy, but it seems like the crystal ball is flashing a warning. In a survey by PwC, more captains of industry believe their companies might need a makeover in the next decade, because of pressure from climate change and technology like artificial intelligence.

WHY: Artificial intelligence was seen as both a way to streamline business operations and a weakness. Nearly three-quarters of the 4700 executives surveyed said “it will significantly change the way their company creates, delivers and captures value in the next three years,” PwC said.

⌚ Redesigned Apple Watch gets pass…for now

WHAT: In a plot twist that even Sherlock Holmes would appreciate, U.S. Customs and Border Protection has given Apple the green light to dodge an import ban on fresh Apple Watch models stemming from its patent infringement dispute with medical-monitoring technology company Masimo. The import ban, issued by the U.S. International Trade Commission (ITC), applies to Apple's current Series 9 and Ultra 2 watches and initially went into effect on Dec. 26.

WHY: The ITC barred Apple's imports and sales of Apple Watches with technology for reading blood-oxygen levels based on allegations that they infringe two Masimo patents. Apple has included a pulse oximeter feature in smartwatches since its Series 6 Apple Watch in 2020.

🏪 Supermarket super-merger faces legal action

WHAT: Hold onto your shopping carts! Washington state's Attorney General just threw a regulatory pineapple at the proposed Kroger and Albertsons merger. In the suit filed in King County Superior Court, Attorney General Bob Ferguson argued that the $25-billion deal would harm consumers and raise prices, The Seattle Times reported. Kroger and Albertsons have more than 300 locations in the state and account for more than half of its grocery sales, according to the suit.

WHY: Kroger and Albertsons agreed to merge in 2022. The grocery chains say they must merge to compete with Walmart, Amazon and other major companies that have stepped into the grocery business.

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