Eksentricity

Tech

AI Advancements

• AI-Powered Learning and Work Automation: AI-powered learning platforms and work automation solutions are gaining traction across various industries. iLearningEngines (AILE) leads the way with its AI-powered platform, enabling enterprises to rapidly deploy AI applications in healthcare, education, and finance.
• AI for Cloud Security: Cloud security solutions are being enhanced with AI integration. CrowdStrike (CRWD) has integrated Dazz’s security remediation insights into its Falcon Cloud Security platform, improving visibility and protection for cloud environments.
• AI-Driven Library Tools: AI is transforming library services. Clarivate (CLVT) has launched Primo Research Assistant, an AI-powered library discovery solution that provides instant answers to research queries and comprehensive source visibility.

Cryptocurrency

• Cryptocurrency Trading Venue in Europe: SIX Group, the Swiss stock exchange, is exploring the launch of a European trading venue for cryptocurrencies, specifically targeting institutional investors.
• Liquid Staking Platform: Shiba Inu (SHIB) is expanding its ecosystem. Its liquid staking platform, K9 Finance, will launch on the Shibarium network, offering users the ability to earn staking rewards while maintaining liquidity.
• Stablecoin Expansion: Bybit, the second-largest cryptocurrency exchange by trading volume, is accepting applications for its Bybit Card in Brazil, enabling users to make crypto payments at Mastercard merchants worldwide.
• Stablecoin Launch: BitGo, a crypto custodian, is launching USDS, a new U.S. dollar-pegged stablecoin designed to prioritize fairness, transparency, and market neutrality. USDS is expected to be available in January 2025.

EV Charging and Infrastructure

• US EV Charging Infrastructure Challenges: ChargePoint (CHPT) is facing challenges in the EV charging infrastructure market due to increased competition and slower growth. The company has announced layoffs and restructuring plans to improve operational efficiency.
• Vehicle-Grid Integration: Ford, BMW, and Honda have launched ChargeScape, a joint venture that connects EVs to the power grid, enhancing grid stability and reducing charging costs for drivers.
• Electric Vehicle Production in India: Lenovo Group Ltd (LNVGY) has expanded its manufacturing operations beyond Taiwan. The company has begun manufacturing AI servers at its Puducherry facility in India.

Technology Trends and Developments

• Entertainment and Technology Partnerships: PodcastOne (PODC) has renewed its agreement with LadyGang, a popular podcast hosted by Keltie Knight, Becca Tobin, and Jac Vanek, demonstrating the growing influence of podcasts in the entertainment industry.
• Telecom Partnerships: Zoom Video Communications (ZM) has partnered with Mitel, a global leader in business communications, to create a hybrid cloud solution combining Zoom Workplace and Mitel’s communications platform.
• Digital Signage Solutions: EchoStar Corporation’s (SATS) subsidiary, Hughes Network Systems, has launched the HS600 Media Player, a digital signage solution that streamlines content delivery to HDMI-enabled screens.
• Data Verification: The Dandy Horse™, a data verification company, has secured a patent for its VIDAT system, which uses a combination of tag identifiers to verify physical activities.
• Cybersecurity Training: Infosec Institute has partnered with Right-Hand Cybersecurity to deliver automated cybersecurity training based on individual user gaps.

Financial Performance

• Strong Financial Performance in Tech: Broadcom Inc. (AVGO), Nvidia Corp. (NVDA), and Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) have all reported impressive financial performance, with significant revenue growth and strong profitability.
• Earnings and Revenue Growth: Several tech companies, including Intel Corporation (INTC), Dell Technologies (DELL), Qualcomm (QCOM), Oracle Corporation (ORCL), and Super Micro Computer (SMCI), have reported strong earnings and revenue growth, driven by the increasing adoption of AI.
• Increased Investment in AI: Companies are investing significantly in AI-driven technologies and infrastructure, indicating strong growth potential in the AI sector.
• Cost Reduction Measures: Companies are implementing cost-cutting measures to improve profitability and navigate the challenging economic environment.

Finance

Interest Rate Adjustments

• Fed Rate Cut: The Federal Reserve decreased the federal funds rate by 50 basis points, bringing the target range to 4.75% to 5.00%. This marked the first rate cut since the beginning of the Covid-19 pandemic.
• Market Expectations for Further Cuts: The Federal Reserve’s “dot plot” indicates potential for additional rate cuts, suggesting a 50-basis point reduction by the end of 2024, followed by a full percentage point decrease in 2025, and a half-point reduction in 2026.
• Crypto Market Reaction: The Fed’s announcement initially led to a surge in Bitcoin, reaching above $61,000, but later stabilized around $60,700. Ethereum and Solana experienced similar fluctuations, reflecting a cautious sentiment amidst uncertainty.
• Focus on Labor Market: The Fed’s decision signaled a shift from prioritizing inflation control to supporting a cooling labor market. The central bank forecasts an unemployment rate increase to 4.4% by the end of 2024.

Banking Mergers and Acquisitions

• Increased Scrutiny on Bank Mergers: The FDIC, OCC, and DOJ will adopt stricter scrutiny for bank mergers, particularly those involving institutions with assets exceeding $50 billion, to mitigate systemic risks.
• Community Impact Evaluation: The FDIC’s new Statement of Policy will assess the impact of proposed mergers on communities, consumers, competition, and financial stability.
• Revised Antitrust Guidelines: The DOJ will apply its updated 2023 merger guidelines, offering broader scope and flexibility for evaluating bank mergers.
• Potential Impact on M&A Activity: The enhanced regulatory requirements might lead to a decrease in proposed mergers and more denials, potentially slowing down M&A activity in the banking sector.

Earnings Reports

• General Mills Earnings Beat: General Mills reported stronger-than-expected first-quarter earnings, exceeding analysts’ forecasts with an adjusted EPS of $1.07 and revenue of $4.85 billion.
• Jefferies Earnings Outlook: The Zacks Earnings ESP of +5.66% for Jefferies Financial Group indicates a high probability of exceeding the consensus EPS estimate.
• FedEx Earnings Preview: Analysts project FedEx to report quarterly earnings of $4.83 per share and revenue of $21.99 billion on September 19th.

Share Repurchases and Dividends

• JPMorgan Dividend Increase: JPMorgan Chase raised its quarterly dividend to $1.25 per share, representing an 8.7% increase from the previous payout.
• WillScot Share Buyback Expansion: WillScot increased its share repurchase program to $1 billion following the termination of its merger with McGrath RentCorp.
• Ambac Financial Group Share Repurchase: Ambac Financial Group will initiate a $50 million share repurchase program following the completion of its financial guarantee business sale.

Global Financial News

• Sampo Dual Listing on Nasdaq Copenhagen: Sampo plc successfully completed its dual listing process on Nasdaq Copenhagen, enabling trading of its A shares under the symbol “SAMPO DKK.”
• Rogers Acquires Bell’s MLSE Stake (Canada): Rogers Communications Inc. acquired Bell’s 37.5% ownership stake in Maple Leaf Sports & Entertainment for C$4.7 billion.
• Credit Suisse Mutual Fund Acquisition by UBS (Switzerland): UBS Group AG acquired Credit Suisse’s mutual fund business, managing assets valued at $262 billion as of March 2024.
• Reckitt Benckiser Homecare Division Sale (UK): Reckitt Benckiser Group Plc is in preliminary discussions with potential buyers for its homecare division, including brands like Air Wick, Mortein, Calgon, and Cillit Bang.
• Transmodus Acquisition of 360-Five Digital (USA): Transmodus, a payment solutions provider, acquired 360-Five Digital, integrating its merchant and contract portfolio into Linked2Pay.
• Ultimus LeverPoint and Arch Partnership (USA): Ultimus LeverPoint Private Fund Solutions partnered with Arch, a digital admin platform, to enhance data management capabilities for private investment operations and investor communications.
• BDO Unibank Presentation at Deutsche Bank ADR Virtual Investor Conference (Philippines): BDO Unibank, Inc. will present at the dbVIC on September 24, offering investors a real-time engagement opportunity.
• Orphazyme Identity Change Process with Nasdaq (Denmark): Orphazyme A/S is undergoing a process to implement an identity change with Nasdaq to maintain its listing status.

Healthcare

Long-COVID Treatments

• Hyundai Bioscience’s Xafty® Trial: Hyundai Bioscience is partnering with the University of California San Diego (UCSD) to evaluate Xafty®, a niclosamide-based antiviral, for treating Long-COVID. The trial, led by infectious disease specialist Professor Ajay Bharti, aims to assess Xafty®’s effectiveness in alleviating Long-COVID symptoms, such as chronic fatigue, inflammation, and cognitive decline.
• Long-COVID Treatment Landscape: The Long-COVID market is expected to reach US$ 15.5 billion by 2027, with a significant focus on developing effective treatments for the debilitating symptoms.

Chikungunya Vaccine Expansion

• Valneva’s IXCHIQ® Adolescent Expansion: Valneva SE has submitted applications to the European Medicines Agency (EMA) and Health Canada to expand the use of its chikungunya vaccine, IXCHIQ®, to adolescents aged 12 to 17 years. The Canadian application includes two-year antibody persistence data, demonstrating the vaccine’s sustained immune response.
• Global Chikungunya Market: The global chikungunya vaccine market is projected to reach US$ 1.2 billion by 2028. This growth is driven by the increasing incidence of the disease, especially in endemic regions.

Mpox Vaccine Access

• Gavi & Bavarian Nordic’s Mpox Vaccine Agreement: Gavi, the Vaccine Alliance, and Bavarian Nordic A/S have entered into an advance purchase agreement (APA) to secure 500,000 doses of the MVA-BN® mpox vaccine for countries in Africa. These doses will be delivered in 2024 and funded by Gavi’s First Response Fund.
• Mpox Vaccine Landscape: The MVA-BN® vaccine, the only non-replicating mpox vaccine approved in the U.S., Switzerland, Singapore, Canada, EU/EAA, and the United Kingdom, was prequalified by the WHO.

Dual Chamber Prefilled Syringes

• Global Market Growth: The global dual chamber prefilled syringes market is projected to reach a valuation of US$ 2,321.4 million in 2024 and grow at a CAGR of 9.0% during the forecast period (2024 to 2034). This growth is driven by the increasing use of biologics and the rising demand for self-injection systems.
• Key Players and Innovations: The market is dominated by key players like Becton Dickinson, Terumo, and Schott AG, who are investing in innovative solutions for pre-filled syringes.

Oncology Therapies

• Preclinical Antibody-Drug Conjugate (ADC) Research: Zymeworks Inc. is presenting preclinical research findings for its ADC candidates, ZW220 and ZW251, at the EORTC-NCI-AACR Conference in Barcelona. Both candidates utilize Zymeworks’ proprietary payload, ZD06519, a topoisomerase I inhibitor.
• CEACAM1 as a Novel Oncology Target: Purple Biotech is presenting new positive biomarker findings for its lead oncology therapeutic candidate CM24 at the AACR Special Conference on Advances in Pancreatic Cancer Research. The data indicates that CEACAM1, a novel target in oncology, may be a potential biomarker for patient selection for CM24-based therapy.

New Treatment Modalities

• Clofazimine Inhalation Suspension for NTM Lung Disease: MannKind Corporation has received clearance from Japan’s Pharmaceuticals and Medical Devices Agency (PMDA) to initiate the Phase 3 study (ICoN-1) of Clofazimine Inhalation Suspension for the treatment of NTM lung disease. The ICoN-1 study is a multi-national, randomized, double-blind, placebo-controlled, Phase 3 registrational study to evaluate the efficacy and safety of Clofazimine Inhalation Suspension in adults with refractory NTM lung disease.
• MannKind’s Global Expansion: The study is now cleared by health authorities in four countries (U.S., Japan, South Korea, and Australia) with a fifth (Taiwan) expected in 4Q 2024. The study will enroll approximately 230 eligible participants across 100 sites globally.

Economy & Real estate

U.S. Housing Market Recovery

• Housing Starts Surge: U.S. housing starts jumped by 9.6% in August, reaching an annualized rate of 1.356 million units, the largest increase in nine months. This surge was driven by declining mortgage rates and anticipation of a Federal Reserve rate cut, leading to a significant increase in single-family housing starts to an annualized rate of 992,000 units, representing a 15.8% jump.
• Building Permits Rise: Building permits, a leading indicator of future housing starts, rose in August to their highest level in five months. Single-family building permits increased by 2.8%, while permits for all privately-owned housing units rose by 4.9% to an adjusted annual rate of 1.475 million.
• Builder Confidence Improves: Builder confidence edged up by two points in September, breaking a four-month streak of tepidness. This improvement was fueled by decreasing mortgage rates, which is reflected in the National Association of Home Builders (NAHB)/Wells Fargo’s Housing Market Index (HMI), which rose to 41 in September from 39 in August.
• Mortgage Rates Decline: The average rate for 30-year mortgages fell 14 basis points to 6.15% in the week ended Sept. 13, marking the lowest rate since September 2022. This decline is fueling optimism about a rebound in the housing market.

Global Economic Trends

• U.S. Fed Rate Cut: The Federal Reserve cut interest rates by a half percentage point on Wednesday, the first rate decline in four years. This move is anticipated to stimulate economic growth and further boost the housing market.
• Brazil Rate Hike: Brazil’s central bank is expected to raise interest rates for the first time in two years, citing robust economic activity and above-target inflation projections.
• Global Debt Concerns: The World Economic Forum President Borge Brende has expressed concerns about global debt levels approaching historic highs, raising fears about a potential decade of low growth and the risk of stagflation in advanced economies.
• AI and Cryptocurrency Boom: The convergence of artificial intelligence and cryptocurrency is projected to inject $20 trillion into the global economy by 2030. This is expected to drive a surge in demand for data centers, AI chips, and electricity.

Real Estate Acquisitions and Investments

• StorageVault Acquisition in Canada: StorageVault Canada Inc. completed the acquisition of two adjacent properties in Toronto, Ontario, for a combined purchase price of $71,500,000. This acquisition expands StorageVault’s footprint to 249 storage locations across Canada.
• Talonvest Loan in California: Talonvest Capital, Inc. secured a $20 million loan for a newly developed self-storage facility in Oakland, California. This transaction highlights the sustained demand for self-storage investments despite tighter credit conditions.
• RockFarmer Appointment: RockFarmer Properties appointed David Krantz as Head of Capital Markets, strengthening its institutional investor clientele and expanding its investment portfolio across targeted U.S. growth locations.

Company Updates & News

• La Rosa Holdings Presentation: La Rosa Holdings Corp. (NASDAQ: LRHC) will present at the iAccess Alpha Buyside Best Ideas Investor Conference on September 24-25, 2024. The presentation will focus on its technology-integrated real estate platform and agent-centric business model.
• EQTY | Forbes Global Properties Expansion: EQTY | Forbes Global Properties brokered by eXp Realty appointed Jamie Duran as Director of Global Growth, accelerating its mission to expand its global footprint and redefine luxury real estate.
• CBRE Outlook: CBRE Group’s (CBRE) diverse real estate products and services, strategic buyouts, technology investments, and strong balance sheet are expected to drive its performance. Analysts are optimistic about the stock, with the Zacks Consensus Estimate for CBRE Group’s current-year earnings per share (EPS) being revised 6% upward over the past three months to $4.75.
• EPH European Property Holdings PLC: EPH anticipates a loss of approximately EUR 13-15 million for the first half of 2024, compared to a loss of EUR 132 million for the same period in 2023. This improvement reflects stabilizing European real estate markets and improving operational results.

Retail

Retail Performance Amidst Economic Uncertainty

• Consumer Spending Trends: U.S. retail sales continued to show resilience amidst economic uncertainty, rising 0.1% in August. Despite persistent inflation, online retail sales rebounded, increasing by 1.4% after a dip in the previous month. However, several companies, including Carter’s, have indicated a slowdown in consumer discretionary spending, suggesting that cautious consumer sentiment persists.
• Fed Rate Cut Impact: The anticipated Fed rate cut, the first since March 2020, is expected to provide a boost to the retail sector by encouraging consumer spending with lower borrowing costs.

Top Retail Stocks to Watch

• U.S. Growth Prospects: Strong earnings growth prospects and positive analyst sentiment have positioned several U.S. retail stocks as attractive investment opportunities. Boot Barn Holdings (BOOT), a Zacks Rank #1 (Strong Buy) stock, is anticipated to deliver an earnings growth rate of 10.7% for the current year. Analysts have revised earnings estimates upwards by 11.4% in the last 60 days.
• Global Expansion: JD.com (JD), a leading Chinese e-commerce platform, is another Zacks Rank #1 (Strong Buy) stock with an expected earnings growth rate of 27.2% for the current year. Analysts have revised earnings estimates upwards by 16.8% in the last 60 days.
• Pet Sector Growth: The pet sector continues to show strong growth. Chewy (CHWY), a Zacks Rank #2 (Buy) stock, is expected to experience a remarkable 65.2% earnings growth rate for the current year. Analysts have revised earnings estimates upwards by 34.1% in the last 60 days.
• Apparel Industry Recovery: Abercrombie & Fitch (ANF), a Zacks Rank #1 (Strong Buy) stock, is expected to achieve a significant earnings growth rate of 63.4% for the current year. Analysts have revised earnings estimates upwards by 10.9% in the last 60 days, indicating confidence in the apparel industry’s recovery.

Retailers Adapting to Evolving Market Dynamics

• Omnichannel Shift: Tupperware Brands, facing challenges in its traditional direct-selling model, has filed for Chapter 11 bankruptcy. The company plans to prioritize a digital-first transformation, emphasizing omnichannel strategies to better serve its customers and stakeholders.
• Value-Driven Promotions: Retailers are adjusting their strategies to address consumer value-seeking behavior. Potbelly Corporation’s $7.99 Everyday Value Combo has successfully attracted price-conscious customers, demonstrating the effectiveness of targeted promotions.

Retailers Embracing Technological Advancements

• Digital Transformation: Retailers continue to invest in technology to enhance efficiency and improve the customer experience. Notable examples include Chipotle’s introduction of the “Autocado” robot for guacamole preparation, Texas Roadhouse’s rollout of its “Roadie First” technology system to enhance employee mobility and digital kitchen upgrades, and Potbelly’s focus on digital sales, which now account for 40% of total shop sales.
• Data Management: Hyatt Hotels has implemented Oracle OPERA Cloud to manage data and streamline operations across its global properties, demonstrating the increasing importance of data-driven decision-making in the hospitality industry.

Emerging Trends and Opportunities

• Experiential Retail: Golf Lounge 18, an immersive indoor golf entertainment brand, is experiencing rapid expansion, showcasing the growing popularity of experiential retail experiences that offer entertainment and social interaction.
• Sustainable Packaging: Triscuit Crackers has committed to sourcing plastic linked to advanced recycling technology, contributing to a more circular economy and reducing plastic waste.

Challenges and Risks

• Labor Shortages: The hospitality sector continues to grapple with labor shortages, which are driving up wages and potentially impacting service quality.
• Supply Chain Disruptions: Ongoing supply chain disruptions and higher transportation costs remain a challenge for retailers, creating uncertainty and potential price increases.
• Inflationary Pressures: While inflation has eased, it remains a concern for many retailers, potentially impacting consumer spending and profit margins.

Infrastructure

Investments & Expansions in North America

• Canadian Solar Glass Manufacturing Expansion: Canadian Premium Sand Inc. (CPS) will receive up to $272 million in financial assistance from the Canadian and Manitoba governments for its integrated patterned solar glass manufacturing facility in Selkirk, Manitoba. The facility, expected to cost $608 million, will leverage high-purity silica sand from CPS’s quarry, renewable hydroelectricity, and natural gas, offering a unique and sustainable cost advantage.
• Increased Insulation Production Capacity: Installed Building Products (IBP) expanded its subsidiary, Advanced Fiber Technology (AFT)’s production capacity with a second manufacturing line in Bucyrus, Ohio. This $5.5 million expansion includes investments in technology, robotics, and automation for the wastepaper conversion industry, enabling AFT to meet rising demand for its environmentally-friendly Carbon-Smart Loose-Fill Cellulose Insulation.
• New Western U.S. Terminals: Saia Inc. (SAIA) is opening three new terminals in Bismarck and Fargo, North Dakota, and Sidney, Montana, as part of its ongoing Western expansion. These new facilities will strengthen Saia’s network and enhance its ability to serve customers in the region.
• Speculative Industrial Facility in Laredo, Texas: ARCO Design/Build, in partnership with Alliance Industrial Company and Realterm, broke ground on a 236,693-square-foot speculative industrial facility in Laredo, Texas. This project addresses the growing demand for logistics facilities in the U.S.-Mexico trade corridor.

Contract Awards

• VH-92A Patriot Helicopter Support Contract: Lockheed Martin Corp. (LMT) secured a $23.1 million contract from the Naval Air Systems Command for procuring sustainment spares and providing repair support for the VH-92A helicopter. Most of the work will be conducted in Stratford, Connecticut, and Woodlawn, Washington.
• GeoXO Lightning Mapper Instruments: NASA awarded Lockheed Martin a $297 million contract for the design and construction of two next-generation GeoXO Lightning Mapper (LMX) instruments for the National Oceanic and Atmospheric Administration (NOAA). LMX will improve upon the existing Geostationary Lightning Mapper (GLM) by providing finer spatial resolution, faster imaging, and a wider field of view, including Alaska.

Pavement Management

• Pavement Condition Assessment for Coachella Valley: Michael Baker International was chosen by the Coachella Valley Association of Governments (CVAG) to provide an updated pavement condition assessment. This project involves data collection for 10 municipal agencies and will inform CVAG’s multi-year regional pavement management plan.

Acquisitions & Mergers in Europe

• Acquisition of ITC Logistics GmbH: NTG Germany GmbH, a subsidiary of NTG Nordic Transport Group A/S, acquired ITC Logistics GmbH, a German-based company specializing in road and logistics solutions. This acquisition strengthens NTG’s market position in Germany, following the acquisition of SCHMALZ+SCHÖN Holding GmbH.

Infrastructure Development in Australia

• Seymour Whyte Wins Two Contracts: VINCI’s Australian subsidiary, Seymour Whyte, secured two contracts worth a total of A$340 million (€209 million) for road upgrades in Sydney and Melbourne. These projects are expected to utilize environmentally-friendly materials and practices.

Commodities

Global Oil Demand

• China’s Slowing Demand: China, the world’s largest oil importer and second-largest consumer (15% of global consumption), has seen oil demand contract for the fourth consecutive month in July, year-on-year. This has contributed to a slowdown in global oil demand growth.
• Oversupply and Tepid Demand: The combination of oversupply and tepid demand drove U.S. crude prices to their lowest in over a year in September 2024.
• OPEC+ Production Cut: OPEC+ members postponed plans to increase output in October, reflecting concerns about slowing demand.
• Price Forecasts: Goldman Sachs predicts Brent crude could fall to $50 per barrel in a moderate U.S. recession. Other analysts see prices dropping to the low $60s per barrel within the next two years.

India’s Growing Oil Demand

• India’s Rising Demand: India, the world’s third-largest oil consumer, is projected to surpass China in oil demand growth in 2024, with an estimated increase of 200,000 barrels per day.
• Economic Growth: India is the world’s fastest-growing large economy and is targeting to become the world’s third-largest economy by 2027.
• Perspective on Growth: Experts acknowledge that India’s oil demand growth, while substantial, is still significantly smaller than China’s.

Cryptocurrency Market Sentiment

• Anticipation Surrounding Fed Rate Decision: The anticipation surrounding the Federal Reserve’s rate announcement has caused significant movements in the cryptocurrency market.
• Potential Bull Run: Crypto trader Michaël van de Poppe believes that the Fed’s decision on September 18, 2024, could trigger a massive bull run in the cryptocurrency market.
• Improving Market Sentiment: The crypto fear and greed index has recovered to between 30 and 40, suggesting improving market sentiment.

Company Actions

• Endeavour Mining Share Repurchase: Endeavour Mining plc repurchased 5,500 of its ordinary shares on September 17, 2024, as part of its buy-back program.
• Borregaard’s Capital Markets Day: Borregaard held its Capital Markets Day on September 18, 2024, highlighting its commitment to organic growth and its investment in bio-based start-ups.

Politics

US Election 2024

• Harris’ Economic Policies and Voter Support: Vice President Kamala Harris is focusing on solidifying her economic platform and gaining support from key demographics, especially young Black men who have shown growing support for Trump.
• Disinformation Campaign Targeting Harris: Microsoft has identified Russian disinformation campaigns targeting Harris and her running mate, Tim Walz. This effort is seen as a continuation of Russia’s strategy to influence the 2024 U.S. presidential election.
• Harris Favored to Win: The CNBC Fed Survey suggests Harris is the likely winner of the 2024 election, with 48% of respondents favoring her over Trump. The survey also found that Harris’ economic policies are seen as better for budget deficits and trade policy, while Trump’s are preferred for their impact on business regulation, inflation, jobs, and taxes.
• Trump’s Trade Policies and the Auto Industry: Former President Trump has vowed to impose hefty tariffs on Chinese-made vehicles in Mexico, claiming the U.S. auto industry will collapse if Harris wins. However, experts note that there are no large Chinese-owned auto factories under construction in Mexico.

Foreign Policy and Trade

• US-India Relations: Former President Trump has announced a meeting with Indian Prime Minister Narendra Modi next week, despite criticizing India as a “very big abuser” of the U.S.-India trade relationship. This meeting coincides with Modi’s scheduled visit to the U.S. for the fourth Quad Leaders’ Summit and the United Nations General Assembly.
• Nippon Steel’s US Steel Bid: The U.S. national security panel has postponed its decision on Nippon Steel’s bid for U.S. Steel, delaying the decision until after the presidential election. This move comes after the panel raised concerns about the potential impact on the steel supply chain.

Political Developments

• Deepfakes and AI in Elections: California has enacted new laws aimed at curbing the use of artificial intelligence in creating misleading images or videos in political advertisements. These laws come as concerns about the use of deepfakes to spread misinformation in elections continue to rise.
• Republican Support for Harris: Over 100 Republican former lawmakers and officials have endorsed Vice President Kamala Harris in a letter, citing concerns about former President Trump’s fitness for office. This endorsement reflects a growing trend of Republicans expressing dissatisfaction with Trump.
• Fed Interest Rate Cut: The Federal Reserve has announced a larger-than-expected interest rate cut, its first since March 2020. This move is seen as a step to address concerns about the economy and inflation, but it is unclear how this decision will affect the presidential race.

Black Voter Mobilization

• BET Media Group Mobilizes Black Voters: BET Media Group is partnering with the National Urban League, NAACP, and other organizations to promote National Black Voter Day on September 20, 2024. The initiative aims to educate and empower Black voters and drive voter participation. BET is implementing a comprehensive strategy that includes voter registration drives, community events, and media campaigns across its platforms.

Cryptocurrency and the Election

• Cryptocurrency and the Election: Ethereum co-founder Charles Hoskinson has expressed his preference for Donald Trump over Vice President Kamala Harris from a cryptocurrency perspective, citing Trump’s recent embrace of blockchain technology and the launch of his World Liberty Financial (WLFI) platform.
• Paulson’s Investment Plan: Hedge fund billionaire John Paulson has announced that he will withdraw his investments from the market in the event of a Harris win, expressing concerns regarding her economic policies, which he believes could lead to a market crash.

Stock Picks

Insider Activity

• CEO Buys at Lululemon: Lululemon’s CEO recently purchased 4,000 shares for $1 million, demonstrating confidence in the company’s future despite lowered earnings expectations. The forward 12-month earnings multiple is 18.2X, a significant decrease from the five-year median of 35.2X, making the stock more attractive.
• Director Buys at Caterpillar: A director of Caterpillar acquired 100 shares for just under $35,000. Caterpillar shares have outperformed the S&P 500 in 2024, gaining nearly 20%.
• Director Buys at Dollar Tree: A director of Dollar Tree purchased 2,200 shares for $150,000 in early September. Despite the positive insider activity, the company’s outlook has been slashed, and it holds a Zacks Rank #5 (Strong Sell).

Earnings & Price Strength

• Potential Earnings Beaters: Five stocks have demonstrated price strength and are expected to beat their earnings benchmarks: Byrna Technologies Inc. (BYRN), Idaho Strategic Resources Inc. (IDR), Limbach Holdings Inc. (LMB), Sezzle Inc. (SEZL), and BrainsWay Ltd. (BWAY). These stocks have seen significant price gains in the last four weeks, with analysts expecting strong earnings growth for the current year.

Rising P/E Ratios

• Potential Growth Stocks: Five stocks with rising P/E ratios are expected to continue generating strong returns: TAL Education Group (TAL), The RealReal (REAL), DarioHealth (DRIO), HealthEquity (HQY), and Energous (WATT). These stocks have exhibited consistent price gains in recent months, and analysts anticipate flat or increasing earnings growth compared to last year.

Oversold Stocks

• Oversold Consumer Staples: Two consumer staples stocks, Farmmi Inc (FAMI) and elf Beauty Inc (ELF), are currently oversold, with RSI values near or below 30. Both stocks have experienced significant declines in recent weeks, presenting a potential buying opportunity for investors seeking higher-risk opportunities.

Analyst Upgrades

• Positive Outlook for GEHC, Sirius XM, Extra Space Storage, NMI Holdings: BTIG upgraded GE HealthCare Technologies (GEHC) from Neutral to Buy. Guggenheim analyst Curry Baker upgraded Sirius XM Holdings (SIRI) from Neutral to Buy. Jefferies analyst Jonathan Petersen upgraded Extra Space Storage (EXR) from Hold to Buy. RBC Capital analyst Scott Heleniak upgraded NMI Holdings (NMIH) from Sector Perform to Outperform.

Analyst Downgrades

• Workday & FedEx downgraded: Needham analyst Scott Berg downgraded Workday (WDAY) from Buy to Hold. B of A Securities analyst Ken Hoexter downgraded FedEx (FDX) from Buy to Hold.