Eksentricity

Tech

iPhone 16 Sales

• Lower Than Expected Pro Model Demand: Initial pre-orders for the iPhone 16 Pro series were weaker than expected due to the delay in the launch of Apple Intelligence, a major selling point for the Pro models. Apple’s price increases for battery replacements for the iPhone 16 Pro and Pro Max models could also be impacting demand.
• Competition in China: Apple faces intense competition in China from local brands like Huawei, leading to weaker demand for its products.

AI and Data Centers

• AI Revolution Fuels Investment: The AI revolution is driving massive investments in data center infrastructure and AI-related hardware. This has led to a surge in demand for Nvidia’s GPUs, driving the company’s market value to over $2.5 trillion.
• Broader Tech Adoption: AI adoption is expanding beyond semiconductors to software, infrastructure, internet, and smartphones, creating new opportunities for tech companies across various sectors.

Blockchain and Cryptocurrency

• DeFi Revival: The DeFi sector could see a revival as the Fed starts cutting interest rates, leading to higher DeFi yields. This could attract investors seeking higher returns in a declining interest rate environment.
• Stablecoins Gaining Traction: Stablecoins like USDC are gaining adoption as they are being integrated into EV charging solutions and are being launched on Apple’s Tap-to-Pay feature. This increasing adoption could lead to greater mainstream acceptance of stablecoins as a digital payment option.
• Meme Coin Mania: The “Dogeverse” is predicted to experience a resurgence, with meme coins like Pepe and Brett potentially outperforming Dogecoin and Shiba Inu. While this trend could lead to significant volatility in the meme coin market, it also highlights the growing interest in meme coins among investors.

Cybersecurity and Data Breaches

• Cybersecurity Concerns: A data breach affecting DeltaPrime, a DeFi protocol on the Arbitrum network, highlights the vulnerability of crypto platforms to cyberattacks. This incident underscores the importance of robust cybersecurity measures for protecting user funds and data in the evolving crypto ecosystem.

Finance

Byju’s Debt Crisis

• US Lenders Demand Repayment: US lenders of Byju’s parent company, Think & Learn, have demanded repayment of $1.2 billion in borrowed funds, along with accrued interest. This demand follows 17 months of missed payments by the struggling Indian edtech company.
• Dispute with Byju’s Founder: The lenders have rejected claims by Byju’s founder, Byju Raveendran, that Think & Learn may not be obligated to repay the debt. They maintain that the insolvency resolution professional (IRP) has no authority to disqualify any lender.
• CoC Proceedings: In a recent meeting, the committee of creditors (CoC) removed Glas Trust, representing the US-based lenders, from the committee for not meeting the minimum representation requirement.
• Glas Trust Appeal: Glas Trust has appealed this decision to the National Company Law Tribunal (NCLT), which refused to stay the CoC proceedings. The Supreme Court has agreed to hear the matter on September 17.

UK Tax Overhaul

• Barclays’ Recommendations: Barclays has urged the UK government to overhaul the tax system for investors in publicly listed companies to revive the UK’s flagging public markets.
• Proposed Tax Reliefs: The bank proposes tax reliefs for investors in businesses transitioning from junior exchanges to the main market and a review of the 0.5% stamp duty levied on share purchases.
• Encouraging Listings: These measures aim to create a more attractive environment for private companies to list on junior markets, with the potential to eventually move to the main market.
• Broader Focus: The report emphasizes the need to focus on improving the UK’s capital markets for smaller companies on growth markets, not just larger companies on the main market.

HK-Saudi Arabia ETF Link

• Strengthening Financial Ties: Saudi Arabia is set to list its first exchange traded funds (ETFs) investing in Hong Kong equities before the end of the year, signifying efforts to strengthen financial ties between the two markets.
• Reciprocal Moves: Hong Kong is expecting “reciprocal moves” this year, which will include the listing of a pair of Hong Kong-focused ETFs on the Saudi Exchange.
• CSOP Saudi Arabia ETF: The first ETF investing solely in Saudi Arabia’s equities market was listed on the Hong Kong exchange last November, attracting $1 billion in initial investment from institutional investors.
• CSOP MSCI HK China Connect Select ETF: In July, CSOP listed the first sharia-compliant ETF in Greater China, offering investors exposure to Hong Kong-listed H shares and mainland China A-shares.

Global Finance Trends

• Deloitte’s Revenue Growth: Deloitte reported global revenue of $67.2 billion for FY2024, marking a 3.1% increase from the prior year. Tax & Legal revenue grew the fastest at 8.7% in local currency.
• Sampo plc Share Buyback: Sampo plc has increased its share buyback program to EUR 475 million and extended it until November 30, 2024. The program aims to enhance capital efficiency and earnings per share.
• Boussard & Gavaudan Holding Limited: Boussard & Gavaudan Holding Limited (BGHL) has provided estimated Net Asset Value (NAV) and returns for its Euro Shares and Sterling Shares, as of September 13, 2024.
• Jyske Bank Share Repurchase: Jyske Bank has acquired shares with a value of up to DKK 1.5 billion, in compliance with the Market Abuse Regulation, as part of its share repurchase program.

Market Sentiment and Stock Performance

• CNN Money Fear and Greed Index: The CNN Money Fear and Greed Index moved to the “Neutral” zone on September 13, 2024, reflecting an improvement in market sentiment.
• US Stock Markets Surge: The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all closed sharply higher on September 13, 2024, driven by hopes for a rate cut by the Federal Reserve.
• Warren Buffett’s Cash Hoarding: Berkshire Hathaway’s cash position totaled nearly $277 billion as of June 30, 2024. Buffett attributes this to his belief that most stocks are not attractively valued.
• Private Markets Race: Financial firms are partnering to offer private equity, private debt, and infrastructure investments to wealthy individual investors. Concerns include illiquidity and higher fees.

Healthcare

Breast Cancer Research Funding

• Vera Bradley Foundation’s Donation: The Vera Bradley Foundation for Breast Cancer has donated $1.6 million to the Vera Bradley Foundation Center for Breast Cancer Research at the Indiana University School of Medicine. This brings their total contributions to breast cancer research to $41.7 million.
• IU School of Medicine’s Leadership: The funding has enabled the IU School of Medicine to become a global leader in targeted breast cancer therapies. They are conducting groundbreaking work in genetics, immunotherapies, vaccines, and new technologies.
• Multidisciplinary Approach: The research team at the Vera Bradley Foundation Center for Breast Cancer Research works collaboratively with researchers from various fields, including laboratory, clinical, translational, and population/prevention researchers.
• “Turn the Town Pink” Campaign: The Foundation’s next fundraising campaign, “Turn the Town Pink,” will take place during National Breast Cancer Awareness Month in October.

Employee Health and Wellness Initiatives

• Health Goals in Performance Reviews: Companies like Deutsche Bank, Aditya Birla Health Insurance, and upGrad are integrating health goals into employee performance reviews. This prioritizes employee well-being alongside professional success.
• Holistic Support Programs: Companies are offering various programs to promote employee health, including onsite diet and nutrition consultants, wellness sessions for mental balance, heart health assessments, and health metric tracking within privacy norms.
• Mental Health Focus: Deutsche Bank has introduced access to onsite mental health counselors and psychotherapists to promote employee well-being and resilience.
• Surging Interest in Comprehensive Healthcare: A survey by insurtech firm Plum found an 110% surge in companies offering comprehensive healthcare programs.

Treg Cell Therapy for Autoimmune Diseases

• PolTREG’s Patent for Intrathecal Administration: PolTREG S.A. has received a patent from China for the intrathecal administration of its cellular therapies in patients with multiple sclerosis (MS).
• Clinical Studies for MS: PolTREG is preparing to launch two new clinical studies with PTG-007 in patients with MS. They will utilize intrathecal administration, which has shown superior results to systemic administration.
• Long-Term Data in Type 1 Diabetes: PolTREG recently presented long-term data showing that a proportion of early-onset type 1 diabetes patients treated with PTG-007 remained in clinical remission up to 12 years later.
• Expansion of Treg Therapy Pipeline: PolTREG is advancing one of the largest and most advanced pipelines for Treg therapies for autoimmune disease. They are developing both polyclonal and engineered cells, including CAR-Tregs, antigen-specific Tregs, and TCR-Tregs.

Subcutaneous Administration of OCREVUS

• FDA Approval of OCREVUS ZUNOVO: The FDA has approved OCREVUS ZUNOVO, a subcutaneous formulation of ocrelizumab, for the treatment of both relapsing and primary progressive multiple sclerosis (MS).
• Twice-a-Year Administration: OCREVUS ZUNOVO is the first and only twice-a-year, healthcare professional-administered subcutaneous injection approved for both forms of MS.
• Pivotal Data from OCARINA II Trial: The approval is based on data from the Phase III OCARINA II trial, which showed no clinically significant difference in the levels of OCREVUS in the blood when administered subcutaneously.
• Safety Profile Consistent with IV Formulation: The safety profile of OCREVUS ZUNOVO was consistent with the IV formulation, with the exception of injection reactions.

Pipeline Advancements in Oncology

• Foghorn Therapeutics’ Financial Results: Foghorn Therapeutics Inc. reported robust financial results for the second quarter of 2024. Studies on its pipeline candidates for treating various oncology indications are progressing well.
• Kisqali’s Deepening Benefit in Early Breast Cancer: Kisqali®, in combination with endocrine therapy (ET), demonstrated a deepening benefit beyond three years, reducing the risk of recurrence by 28.5% in patients with HR+/HER2- early breast cancer (EBC).
• Immatics’ Clinical Proof-of-Concept for TCER® IMA401: Immatics N.V. presented proof-of-concept clinical data for TCER® IMA401, a next-generation, half-life extended TCR Bispecific. The data showed initial anti-tumor activity and durable objective responses in patients with recurrent and/or refractory solid tumors.
• BeyondSpring’s 303 Study in NSCLC: BeyondSpring Inc. presented interim data from the 303 Study, evaluating a triple combination regimen of pembrolizumab plus plinabulin/docetaxel in patients with 2L/3L NSCLC after disease progression on 1L PD-1/L1 inhibitors.

New Product Launches and Partnerships

• Abbott Laboratories’ OTC CGM Devices: Abbott Laboratories has launched the Libre Rio and Lingo, over-the-counter continuous glucose monitoring (CGM) devices for patients with type 2 diabetes and those without diabetes, respectively.
• InspireMD’s PMA Application for CGuard Prime: InspireMD has submitted a Premarket Approval (PMA) application to the FDA seeking marketing approval for the CGuard Prime carotid stent system in the U.S.
• Instil Bio and ImmuneOnco’s Global Registrational Strategy: Instil Bio and ImmuneOnco are collaborating on the global registrational strategy for SYN-2510/IMM2510, a PD-L1xVEGF bispecific antibody, in combination with chemotherapy in front-line NSCLC and TNBC.
• ANI Pharmaceuticals Acquires Alimera Sciences: ANI Pharmaceuticals, Inc. has completed the acquisition of Alimera Sciences, Inc. This expands their Rare Disease business and adds two durable commercial products, ILUVIEN and YUTIQ.

Economy & Real estate

US Economic Outlook

• Weakening Consumer Spending: American households are struggling with rising costs, leading to increased credit card delinquencies and car loan charge-offs. Lower-income households are most affected, but signs of financial strain are also emerging among higher-income earners. Economist Mohamed El-Erian warns of a potential recession if this trend continues.
• Federal Reserve Rate Cuts: The Federal Reserve is expected to cut interest rates to stimulate economic growth. The size of the cut remains a topic of discussion, with some economists advocating for a more modest cut while others believe a larger cut is necessary. Economist Peter Schiff warns that rate cuts may not prevent a recession.
• Gen Z and Millennial Spending: Despite economic challenges, Generation Z and millennials are driving consumer spending, particularly in discretionary categories like travel and entertainment. This trend is fueled by their parents’ financial support, with many living at home and relying on their families for housing and other expenses.

Real Estate Acquisitions and Investments

• Estonian Real Estate Acquisition: Infortar, an Estonian company with holdings in energy, maritime transport, and real estate, acquired a 100% stake in Tallinna Raamatutrükikoja Osaühing (TRT), a leading book printing company in Estonia. The acquisition is expected to unlock efficiencies and strengthen Infortar’s position in domestic and international markets.
• Baltic Horizon Fund Capital Raise: Baltic Horizon Fund, a real estate investment trust focused on Baltic properties, raised EUR 6.29 million in a private placement targeting institutional investors in Europe. The funds will be used to invest in existing properties and/or reduce the fund’s debt.

US Real Estate Market Trends

• In-House Legal Teams in India: Large Indian conglomerates are bolstering their in-house legal teams with M&A specialists, reflecting the growing complexity of deals and a shift towards internal expertise to reduce reliance on external counsel.
• Single-Family Rental Market Growth: Beacon Ridge Capital Management, a private investment firm specializing in single-family rentals (SFRs), partnered with True Home, a tech platform designed to streamline SFR portfolio management. This partnership aims to enhance Beacon Ridge’s renovation and asset management processes and increase investor yields.

Real Estate Company Performance

• REIT Performance and Dividends: Alexandria Real Estate Equities, Inc. (ARE), Flagship Communities Real Estate Investment Trust (MHC.U), European Residential Real Estate Investment Trust (ERE.UN), and Canadian Apartment Properties Real Estate Investment Trust (CAR.UN) all announced monthly cash distributions, reflecting their commitment to shareholder returns.
• Homebuilder Stock Performance: PulteGroup, Inc. (PHM) hit a 52-week high, driven by strong earnings performance and a positive outlook for the homebuilding sector. Lennar Corporation (LEN) is expected to report strong third-quarter earnings, benefiting from solid home sales and a strategic focus on an asset-light model. However, concerns remain about high valuation and macro risks related to interest rates.
• Other Real Estate Stock Performance: RE/MAX (RMAX) rallied on positive market sentiment and strong earnings outlook. Green Brick Partners, Inc. (GRBK) saw a surge in options market activity, suggesting a potential move in the stock price. D.R. Horton (DHI) saw a decrease in short interest, suggesting a potential shift in sentiment toward the stock. Essex Property Trust (ESS) is a solid momentum pick, with strong short-term price performance and a positive earnings outlook.
• Baltic Horizon Fund Performance: Baltic Horizon Fund experienced a slight decrease in net asset value (NAV) per unit in August 2024. The fund signed a new lease with EXPO Group, which will open an interactive entertainment center in one of its properties.
• BXP Performance: BXP saw a decrease in short interest, suggesting a potential shift in sentiment toward the stock.

Mortgage Rates and Housing Market

• Mortgage Rate Decline: Mortgage rates have fallen to their lowest levels since February 2023, driven by expectations of an interest rate cut by the Federal Reserve. This decline is expected to boost new home purchases and benefit homebuilders.
• Homebuilder Outlook: Warren Buffett’s homebuilder holdings, NVR, Inc. (NVR) and Lennar Corporation (LEN), are well-positioned to benefit from falling mortgage rates. Both companies have strong fundamentals and are expected to see increased demand.
• Toll Brothers Expansion: Toll Brothers, Inc. (TOL) announced the grand opening of a new model home in San Antonio, Texas. The luxury homebuilder continues to expand into key markets across the US.

China’s Economic Slowdown

• China’s Slowing Industrial Production: China’s industrial production slowed in August, raising concerns about the country’s ability to reach its growth target for the year. Economists warn of a potential deflationary trap if growth continues to slow.

Retail

Stock Splits

• Stock Splits in 2023: In 2023, several retailers have implemented stock splits to make their shares more affordable for retail investors and increase employee ownership.
  • Deckers Brands Stock Split: Deckers Brands (DECK) completed a 6-for-1 forward stock split on Sept. 16th, decreasing its share price to approximately $156. This was the company’s second split since its IPO in 1993.
  • Walmart’s Stock Split: Walmart (WMT) finalized a 3-for-1 forward stock split in February, marking its largest split to date. The move lowered the share price from $175.56 to $58.52, while multiplying the outstanding share count by three.

Retail REITs

• Retail REIT Industry Outlook: The Zacks REIT and Equity Trust – Retail industry is poised to benefit from consumers’ growing preference for in-store shopping experiences and the limited availability of new retail real estate space.
• Retail REITs and Omnichannel Focus: Retail REITs are capitalizing on their efforts to enhance omnichannel retailing and concentrate on sectors resistant to e-commerce.
• Potential Challenges: Retailer bankruptcies, elevated expenses, and potential financial strain could lead to more cautious real estate decisions and a potential rise in vacancy rates.
• Retail REIT Stocks to Watch: Brixmor Property Group Inc. (BRX), Tanger Inc. (SKT), and Saul Centers, Inc. (BFS) are three REITs positioned to benefit from positive industry fundamentals.

Consumer Spending

• Consumer Spending Trends: Consumer spending has been impacted by the pandemic, leading to a decline in revenue and profits for some retailers.
  • Signet Jewelers Performance: Signet Jewelers (SIG) reported a decrease in revenue and profits in the second quarter due to weak consumer spending and delayed engagements.
  • Signet Jewelers’ Third Quarter Performance: The company noted an improvement in comparable sales in the third quarter to date, and unit sales from engagements have turned positive.
  • Signet Jewelers’ Fashion Segment Performance: Signet’s fashion segment, encompassing non-bridal products, has surpassed expectations. Same-store sales in the fashion category were positive in July, August, and September to date, indicating a strong response to the company’s new product offerings.
  • Lab-Created Diamonds: Lab-created diamonds (LCDs) have been a key driver for Signet’s fashion category, as they allow customers to purchase larger diamonds at a lower cost. This trend has contributed to a 1.6% increase in average transaction value, with LCD sales in the fashion category rising by 25% in the quarter.

E-commerce

• Direct-to-Consumer (DTC) Growth: Several retailers are experiencing significant growth in their direct-to-consumer (DTC) sales.
  • Deckers Brands DTC Sales: Deckers Brands (DECK) has witnessed strong growth in its DTC sales, which accounted for nearly 38% of its total revenue in the most recent quarter. This has led to improved margins for the company.
  • Walmart’s E-commerce Push: Walmart (WMT) is reaping the rewards of its e-commerce expansion, with e-commerce sales growing by 22% in the U.S. and 18% in international markets during the fiscal second quarter.

International Expansion

• Retailer International Expansion: Many retailers are expanding their operations into international markets, particularly in e-commerce sectors.
  • Deckers Brands International Growth: Deckers Brands (DECK) is experiencing strong growth from its international expansion, especially in e-commerce markets, which presents a sustained double-digit, high-margin growth opportunity.
  • Yoshitsu Co., Ltd Expansion: Yoshitsu Co., Ltd (TKLF) is expanding its Reiwatakiya brand into Macau and Thailand, aiming to open ten more discount franchise stores within the next two years.
  • Planet Fitness Expansion: Planet Fitness (PLNT) is expanding into international markets, including Spain, where it opened its first European location in Barcelona.

Infrastructure

Renewable Energy Integration

• Orkney Link Project: Subsea Interconnector: Nexans secured a contract to build the 220MW Orkney Link, a subsea interconnector that will transport renewable energy from the Orkney Islands to the UK mainland. This project will strengthen the UK power network and support its Net Zero targets.
• Cable Manufacturing and Installation: Nexans will manufacture and install a 220kV HVAC cable spanning 53km offshore and 16km onshore using facilities in Norway, Belgium, and Switzerland. Its cable laying vessels will be used for installation.
• Project Completion and Expansion: The project is expected to be completed in 2027 and adds to Nexans’ expanding portfolio of interconnectors, including the Celtic Interconnector and the Crete-Attica Interconnector.

Defense and Security

• USAF Command & Control Support Contract: Ultra Intelligence & Communications (Ultra I&C) secured a $31.4 million contract to provide engineering, repair, and software support for the Joint Air Defense Systems Integrator (ADSI) program for the U.S. Air Force.
• ADSI Modernization for CJADC2: Ultra I&C will continue deploying its ADSI system, modernized for Combined, Joint all-domain command and control (CJADC2), enabling coordination across multi-theater operations.
• Global Deployment and Impact: ADSI is deployed in over 35 countries with over 12,500 installations at 2,500 sites worldwide, demonstrating its global reach and importance in supporting military operations.

Infrastructure Modernization

• FDNY Asset Management Software: The Fire Department of the City of New York (FDNY) selected Cartegraph Asset Management software by OpenGov to modernize its asset management, project tracking, and reporting.
• Efficiency and Response Time Improvements: The software will integrate the FDNY’s GIS mapping database with the NY811 one-call system, streamlining installation and maintenance efforts, resulting in estimated 35% time savings. It will also enable real-time data entry, improved performance tracking, and enhanced public safety.
• GIS Integration and Spatial Solutions: The software integrates with Esri’s ArcGIS, providing a comprehensive spatial-based solution for managing the FDNY’s emergency cable communications infrastructure.

Carbon Emission Reduction

• PPL’s Carbon Capture Project Funding: PPL Corporation secured $72 million in funding from the U.S. Department of Energy to develop and implement a carbon emission capture system at its Cane Run generating station in Kentucky.
• Advanced Capture Technology Implementation: The project will use advanced heat-integrated carbon dioxide capture technology, capturing over 95% of emissions from 20MW of the plant’s capacity, equating to 67,000 metric tons of CO2 per year.
• Industry Collaboration and Carbon Neutrality Goal: PPL collaborates with over 30 industry and academic partners on various research and development projects, accelerating low-carbon energy technologies and supporting its carbon neutrality goal by 2050.

Commodities

Oil & Gas Acquisitions & Developments

• Vallourec Acquires Brazilian Coating Firm: Vallourec, a global leader in tubular solutions, acquired Thermotite do Brasil for $17.5 million. This acquisition enhances Vallourec’s presence across the industry value chain, particularly in offshore and deepwater markets, furthering their premiumization strategy and technical expertise.
• IPC Share Repurchase Program: International Petroleum Corporation repurchased 197,200 common shares under its normal course issuer bid program. This repurchase reflects confidence in the company’s financial prosperity and demonstrates their commitment to returning value to shareholders.
• BP Kaskida Development Utilizes Advanced Well Technology: BP plc selected American Bureau of Shipping for classification and engineering verification services for its Kaskida development in the U.S. Gulf of Mexico. This project will utilize well equipment with a pressure rating of up to 20,000 pounds per square inch, marking a significant advancement in the region’s oil and gas industry.
• Eni SpA Explores Plenitude Sale: Eni SpA is considering selling a minority stake in Plenitude, their renewable and retail business, to investment funds. This move aligns with Eni’s energy transition strategy, seeking specialized investors to support their renewable energy ambitions.

Metals & Mining Trends

• BHP Warns of Copper Shortage: BHP Group anticipates a significant copper shortage due to increasing demand driven by the global expansion of artificial intelligence. The company forecasts global copper demand to reach 52.5 million tonnes by 2050, a 72% increase from 2021 levels.
• Churchill Resources Nickel Property Exploration: Churchill Resources Inc. secured 100% ownership of a 1.0 km2 area at the Taylor Brook Nickel Property in Newfoundland and Labrador. Drilling operations are commencing at the TBSL-1 Grid, targeting high chargeability zones identified through IP surveys.
• Vale Production Guidance & Samarco Settlement: Vale S.A. raised its 2024 production guidance for iron ore and confirmed that negotiations regarding the Samarco dam disaster have progressed, with a final settlement expected in October 2024.
• Hecla Mining Short Interest Decreases: Hecla Mining’s short interest decreased by 8.02%, with 13.34 million shares sold short, representing 2.18% of all regular shares available for trading.

Global Commodity Market Developments

• Lubricants Market Growth: The global lubricants market is projected to reach US$ 206.9 billion by 2034, growing at a CAGR of 2.6%. The increasing demand for bio-based lubricants, fueled by sustainability regulations and growing environmental awareness, is driving market growth.
• Bio-Based Malonic Acid Market Growth: The global bio-based malonic acid market is expected to reach US$ 6.6 billion by 2031, growing at a CAGR of 8.9%. This growth is driven by the increasing demand for sustainable and eco-friendly chemicals.
• Ashland Launches New Super Wetting Agent: Ashland has commercialized easy-wet™ 300 n, a super wetting agent for crops and produce, enhancing wettability and reducing spray drift.
• Green Thumb Industries Announces Share Repurchase Program: Green Thumb Industries Inc. authorized a $50 million share repurchase program, reflecting confidence in their financial position and commitment to shareholder value.
• Gevo Patent for ETO Process: Gevo, Inc. obtained a patent for its ethanol to olefins (ETO) process, which is expected to improve the cost and yield of olefins from ethanol. This technology has the potential to reduce the cost of biofuels and biochemicals.

Market Influences & Trends

• Fed Rate Cut Expectations: The possibility of a 50-basis point interest rate cut by the Federal Reserve is driving optimism in the markets, attracting investors towards high-risk assets like stocks and gold.
• Investor Interest in Precious Metals: The rise in gold and silver prices, fueled by geopolitical tensions, potential monetary policy easing, and central bank purchasing, is drawing investor attention.
• Copper Demand Growth: The increasing adoption of AI and data centers is boosting copper demand, potentially leading to a shortage by 2030.
• Potential Rate Cuts Benefit Cannabis Industry: Lower interest rates could benefit the cannabis industry by reducing borrowing costs, improving access to financing, attracting investors, and stimulating consumer spending.
• US Rig Count Increases: The U.S. rig count rose in the week ending September 13, indicating a more positive environment for oil and gas exploration and production companies.
• Lithium Prices Rebound: Reports of a major lithium producer in China cutting production are boosting hopes for a recovery in lithium prices, which have been declining due to increased supply.

Politics

Assassination Attempts on Trump

• Second Attempt Foiled in Florida: A man armed with an AK-style rifle attempted to infiltrate the perimeter of former President Trump’s golf course in West Palm Beach, Florida. Secret Service agents swiftly responded, leading the suspect, Ryan Wesley Routh, to abandon his weapon and flee. Routh was apprehended after discarding an AK-47-style assault rifle and fleeing the scene. This marks the second assassination attempt on Trump in recent months.
• Security Concerns and Public Reaction: President Biden and Vice President Harris expressed relief over Trump’s safety and condemned the act of violence. The incident has raised serious concerns about the safety of the former President.
• Trump’s Response and Suspect’s Background: Trump reassured supporters of his safety, vowing to “NEVER SURRENDER.” Routh, 58, of Hawaii, has a history of run-ins with the law, including a conviction for possessing a weapon of mass destruction. He has also expressed support for Ukraine and has tried to recruit Afghan conscripts to fight in the war against Russia.

China’s Reaction to Trump Assassination Attempt

• Conspiracy Theories and Mockery on Weibo: News of the apparent assassination attempt on Trump has taken China’s heavily censored social media by storm, prompting conspiracy theories and mockery of the U.S. political landscape. Users on Weibo, a popular Chinese social media platform, have questioned the authenticity of the incident, suggesting it may have benefited Trump in the polls.
• Views on American Political System: Weibo users have expressed views that the American political system is unstable and dominated by “terrorism and violence.” This reflects the Chinese government’s efforts to control online narratives and portray the U.S. as unstable and unreliable.

International Relations

• Russia’s Nuclear Threat to Ukraine: Russia has issued a stern warning to Ukraine, threatening to reduce its capital, Kyiv, to a “giant melted spot” if Ukraine uses Western long-range missiles against Russia. This development comes in the wake of calls from Russian foreign policy hawks for a more assertive nuclear stance towards the West.
• Escalating Tensions and Potential for Direct Confrontation: The use of Western-made long-range missiles by Ukraine could lead to a direct military confrontation between Russia and the West, as warned by Putin.
• Trade Tensions and Sanctions: Business mogul Mark Cuban shared his perspective on the escalating trade tensions between China and Russia, in the light of U.S. sanctions on Moscow. Cuban argued that sanctions can be more effective than tariffs in managing trade issues.
• U.S.-China Strategic Rivalry: The U.S. and European Union have raised concerns over China’s support for Russia’s military, which they believe is contributing to the conflict in Ukraine and posing a global security threat. This has led to heightened tensions between the nations.

Domestic Policy

• Argentina’s Austerity Measures: Pro-Bitcoin President Javier Milei of Argentina has personally presented the 2025 budget to Congress, reflecting his commitment to eradicating the country’s persistent fiscal deficit.
• Zero-Deficit Budget and Spending Cuts: Milei emphasized his commitment to a “zero deficit” budget, despite controlling less than 15% of the seats in the legislature. His administration has achieved a fiscal surplus of 0.4% of GDP through dramatic cuts to public spending.
• Opposition and Controversy: Opposition parties have been pushing for laws to increase salaries and pensions in line with inflation, to help Argentines struggling with harsh austerity measures. Milei’s austerity measures have sparked protests, particularly over pensions.
• International Praise for Argentina’s Economic Reforms: Milei has received international praise, including from Tesla and Space X CEO Elon Musk, for his efforts in ‘restoring Argentina to greatness’.

Social Security Changes

• 2025 COLA Estimate: The most recent estimate by the nonpartisan Senior Citizens League puts 2025’s COLA at 2.5%.
• Earnings-Test Limit and Wage Cap Adjustments: The current earnings-test limit is $22,320, or $59,520 for those who haven’t reached full retirement age yet but will do so before the end of 2024. These numbers are expected to rise in 2025 in line with inflation. The current wage cap is $168,600. This number is expected to increase in 2025 to account for inflation and wage growth.

Social Security Reform

• SSA’s Key Announcements: The Social Security Administration (SSA) will announce a number of key changes to the program on Oct. 10.
• 2025 Adjustments: The SSA is expected to announce the 2025 cost-of-living adjustment (COLA), the 2025 earnings-test limit, and the 2025 wage cap. These changes are likely to be impacted by inflation and wage growth.

UAW Charges against Stellantis

• Contract Violations and Production Shift: The United Auto Workers union has filed federal unfair labor practice charges against Stellantis for allegedly violating contract terms and attempting to move production of the Dodge Durango out of the U.S. The UAW alleges that Stellantis wants to move Durango production to a plant in Ontario, Canada.
• UAW’s Stance and Stellantis’ Response: The UAW has argued that Stellantis is going back on the deal reached in their 2023 contract. Stellantis has denied the accusations, stating that it has not violated any commitments.

Cannabis Reform

• Biden’s Clemency Grants and Calls for Release: President Joe Biden has granted record relief to nearly 13,000 people serving sentences for cannabis offenses. However, over 3,000 individuals are still incarcerated for nonviolent cannabis offenses. Advocates are urging Biden to release those imprisoned for cannabis crimes, citing strong public support for clemency.
• Trump’s Actions and Congressional Action: Former President Donald Trump commuted 16 cannabis-related sentences in 2020 and pardoned 13 marijuana prisoners on his final day in office. Congressman Earl Blumenauer (D-OR) has urged Speaker Mike Johnson (R-LA) to place cannabis reform policies up for a vote in the U.S. House of Representatives.

Ukraine’s Medical Cannabis Regulations

• Legalization and Transportation Guidelines: Ukraine has legalized medical cannabis, allowing the distribution of cannabis plants for medical, industrial, and scientific purposes. The government has established guidelines for transporting medical cannabis within its borders, including provisions for authorized representatives and satellite tracking systems.

Nebraska Medical Cannabis Ballot Measures

• Ballot Certification and Legal Challenges: Nebraska voters will soon decide on whether to legalize medical cannabis, following the certification of two ballot measures by Nebraska Secretary of State Bob Evnen. The measures faced controversy due to allegations of falsification of petition signatures. The push for medical cannabis in Nebraska has been met with legal challenges and accusations of fraud.

Elon Musk’s X Post Deletion

• Controversial Post and Backlash: Elon Musk deleted a post on X that questioned why there weren’t more assassination threats made against President Joe Biden and Vice President Kamala Harris. Musk faced immediate backlash for the post, which he defended for roughly 9 hours before deleting.
• White House Denouncement and Trump’s Endorsement: The White House condemned Musk’s language, calling it “irresponsible.” Musk has emerged this election cycle as one of Trump’s most visible allies, endorsing Trump and helping to create and fund a pro-Trump political action committee.

Stock Picks

Earnings & Surprises

• Earnings ESP & Zacks Rank: The Zacks Earnings ESP (Expected Surprise Prediction) aims to predict earnings surprises by comparing the most recent analyst estimates to the Zacks Consensus Estimate. Stocks with a positive ESP and a Zacks Rank #3 (Hold) or better tend to report earnings surprises 70% of the time, with an average annual return of 28.3% based on a 10-year backtest.
• United Airlines (UAL): With an Earnings ESP of +6.73% and a Zacks Rank #3 (Hold), UAL has a good chance of exceeding earnings expectations.
• Alaska Air Group (ALK): ALK has a Zacks Rank #3 (Hold) and an Earnings ESP of +15.78%.
• Cintas (CTAS): CTAS has a Zacks Rank #2 (Buy) and an Earnings ESP of +0.74%.
• Stanley Black & Decker (SWK): SWK has a Zacks Rank #3 (Hold) and an Earnings ESP of +1.28%, indicating a chance of exceeding analyst expectations.

Momentum & Valuation

• High Momentum & Reasonable Valuation: This screen identifies stocks with recent price momentum while still trading at attractive valuations.
• Norwegian Cruise Line (NCLH): NCLH exhibits a four-week price change of 20.1% and a 12-week gain of 11.8%. Its beta of 2.71 suggests fast-paced momentum.
• Empresa (EDN): EDN shows a four-week price change of 42.1% and a 12-week gain of 55.6%, with a beta of 1.39.
• DXP Enterprises (DXPE): DXPE shows a four-week price change of 0.7% and a 12-week gain of 2.8%, with a beta of 1.6.
• Bridgeline Digital (BLIN): BLIN exhibits a four-week price change of 21.9% and a 12-week gain of 6.4%, with a beta of 1.94.

Recent Price Strength & Fundamentals

• Recent Price Strength & Fundamentals: This screen identifies stocks with recent price strength and strong fundamentals.
• Climb Global Solutions (CLMB): CLMB shows a 12-week gain of 60.9% and a four-week price change of 7.5%. The stock is trading at 92% of its 52-week High-Low Range.
• Recruit Holdings Co., Ltd. (RCRRF): RCRRF shows a 12-week gain of 24.3% and a four-week price change of 15.2%.
• Great Lakes Dredge & Dock (GLDD): GLDD shows a 12-week gain of 11.6% and a four-week price change of 7.9%.
• Advantest Corp. (ATEYY): ATEYY shows a 12-week gain of 25.5% and a four-week price change of 2.5%.
• Tecnoglass (TGLS): TGLS shows a 12-week gain of 56.6% and a four-week price change of 13.4%.

Value Stocks

• Value: This Style Score identifies stocks trading at a discount to their true value.
• Avery Dennison (AVY): AVY has a Value Score of B and a Zacks Rank #2 (Buy).
• Sirius XM (SIRI): SIRI has a Value Score of A and a Zacks Rank #1 (Strong Buy).
• Pathward Financial, Inc. (CASH): CASH has a Value Score of A and a Zacks Rank #1 (Strong Buy).
• CSG Systems International (CSGS): CSGS has a Value Score of A and a Zacks Rank #1 (Strong Buy).
• KB Home (KBH): KBH has a Value Score of A and a Zacks Rank #2 (Buy).
• Norwegian Cruise Line (NCLH): NCLH has a Value Score of A and a Zacks Rank #1 (Strong Buy).
• Enersys (ENS): ENS has a Value Score of A and a Zacks Rank #2 (Buy).
• PC Connection (CNXN): CNXN has a Value Score of A and a Zacks Rank #2 (Buy).
• Stride (LRN): LRN has a Value Score of A and a Zacks Rank #2 (Buy).
• Ternium (TX): TX has a Value Score of A and a Zacks Rank #2 (Buy).
• AFC Gamma (AFCG): AFCG has a Value Score of A and a Zacks Rank #2 (Buy).

Growth Stocks

• Growth: This Style Score identifies stocks expected to see above-average earnings growth.
• The Pennant Group, Inc. (PNTG): PNTG has a Growth Score of B and a Zacks Rank #2 (Buy).
• CarGurus (CARG): CARG has a Growth Score of A and a Zacks Rank #1 (Strong Buy).
• Norwegian Cruise Line (NCLH): NCLH has a Growth Score of A and a Zacks Rank #1 (Strong Buy).
• Charles River Associates (CRAI): CRAI has a Growth Score of B and a Zacks Rank #1 (Strong Buy).
• Eli Lilly and Company (LLY): LLY is a Zacks Rank #2 (Buy) stock.
• Affirm Holdings (AFRM): AFRM is a Zacks Rank #2 (Buy) stock.

Oversold Stocks

• Oversold: This screen identifies stocks that have fallen sharply and may be due for a rebound.
• Fulcrum Therapeutics, Inc. (FULC): FULC has an RSI reading of 20.49, indicating oversold conditions.

Options Trading

• Implied Volatility: High implied volatility in options suggests significant price movement is anticipated.
• Martin Marietta Materials (MLM): The Oct 18, 2024 $340 Call has high implied volatility, indicating a possible large price move.