Eksentricity

Tech

AI Advancements & Applications

• AI-Powered Content Creation: Companies are integrating AI into content creation, with ByteDance and HP Inc. leading the way. ByteDance’s Doubao-PixelDance and Doubao-Seaweed platforms generate videos, while HP Print AI uses AI for intelligent printing.
• AI in the Workplace: AI is enhancing the workplace. Duolingo’s AI-powered language learning features include Video Call with Lily and Adventures, and HP is using AI to boost productivity and collaboration.
• Data Center Infrastructure: AI’s rise is driving demand for data centers, with Nvidia, Amazon, and Microsoft investing heavily. Super Micro Computer and Intel are seeing growth due to AI-related infrastructure investments.
• AI in Cybersecurity: CrowdStrike uses AI to enhance threat detection and response. However, the July incident involving a corrupted update that crashed millions of computers highlights the challenges of AI in security.

Crypto & Web3: Growth & Regulation

• Crypto Regulation & Adoption: The SEC is actively regulating crypto assets. The recent actions against TrustToken and TrueCoin demonstrate the SEC’s focus on transparency and investor protection. The crypto market continues to evolve.
• Decentralized Finance (DeFi): Platforms like Core are advancing Bitcoin-powered DeFi. Core is now the largest Bitcoin sidechain based on Total Value Locked. The DeFi sector is still in its early stages.
• Mainstream Crypto Adoption: Companies like Polymarket are leveraging blockchain for prediction markets. Combined with the growing adoption of Bitcoin and Ethereum ETFs, this signals increasing institutional interest in crypto.
• Web3 Accessibility: Companies like Bitget Wallet are working to make Web3 more user-friendly and integrate blockchain into daily life.

Global Tech Trends

• Global Chip Shortage & Semiconductor Industry: The global chip shortage continues to impact the semiconductor sector. Intel faces challenges in its foundry business, while TSMC remains dominant. Partnerships with companies like Amazon and Qualcomm indicate a shift towards more U.S.-based production.
• 5G Advancements & Telecoms: 5G technology is driving innovation in the telecommunications sector. Ericsson’s ARRP solution, deployed by Singtel, offers flexible and intelligent network resource allocation, enhancing performance and creating new business opportunities.
• Sustainable Technologies & Environmental Impact: Companies in the tech sector are focusing on sustainability. First Solar leads in solar panel recycling and its panels have the EPEAT Climate+ designation. Electra Battery Materials is developing battery material recycling processes, crucial for electric vehicles.
• Consolidation & Acquisitions: The tech sector is seeing significant consolidation through mergers and acquisitions. HP Inc. is expanding its portfolio by acquiring companies and integrating new technologies. This trend, along with the expansion of existing partnerships, signifies a focus on strategic market growth.

Finance

Turkish BaaS Launch

• Fibabanka Partners with GetirFinans: Fibabanka, a leading Turkish bank, has partnered with GetirFinans to launch the country’s first Banking as a Service (BaaS) platform. This innovative collaboration allows non-banking businesses to integrate financial services directly into their platforms.
• GetirFinans Integration: GetirFinans, a financial service integrated within the popular Getir app, provides users with access to various banking services including account management, card issuance, and payment options.
• Fibabanka’s BaaS Platform: Fibabanka’s BaaS solution offers over 500 APIs, enabling seamless integration of financial services into businesses’ operations.
• Expanding BaaS Offerings: Fibabanka aims to expand its BaaS platform to serve a wider range of industries and potentially other countries in the future.

Global Market Volatility

• Gold’s Record High Ignored: Despite gold reaching record highs, economist Peter Schiff criticized investors for neglecting this milestone due to the focus on Bitcoin.
• Record Low Bond Yields in China: Following the People’s Bank of China’s decision to cut bank reserve requirements and reduce the reverse repo rate, China’s bond yields reached record lows.
• Investor Sentiment: Investors have poured $190 billion into US fixed income exchange-traded funds this year, reflecting a shift in investment strategies. Alternative asset managers are expected to receive more than half of all management fees in the investment industry in 2024.
• Shift in Bond Investing: Investors are adjusting their portfolio compositions in response to the rising interest rate environment, driving a surge in bond ETFs and increased interest in private credit.

Share Repurchase and Dividend Announcements

• ING Share Buyback Program: ING announced the repurchase of 3,052,646 shares as part of its €2.5 billion share buyback program.
• Sampo plc Share Buyback: Sampo plc has increased its share buyback program to €475 million.
• Faircourt Fund Distributions: Faircourt Asset Management Inc. has announced monthly distributions payable on the shares of the Faircourt Fund.
• ABC Arbitrage Dividend: ABC Arbitrage announced two interim dividend payments of €0.10 per share.

Antitrust Action Against Visa

• DOJ Lawsuit: Visa Inc. is facing charges from the US Department of Justice (DOJ) for allegedly monopolizing the domestic debit card industry.
• Anti-Competitive Practices: The DOJ claims that Visa has engaged in exclusivity agreements and actively blocked competitors from entering the debit card market.
• Government Crackdown: The DOJ’s lawsuit is part of a broader series of antitrust cases targeting large corporations.
• Market Impact: The lawsuit could potentially impact Visa’s future business and financial performance.

Healthcare

Drug Development

• New Drug Approvals in China: Ruxolitinib phosphate cream, a JAK1/JAK2 inhibitor, has been accepted for review by the NMPA in China for the treatment of vitiligo. If approved, this will be the first prescription drug approved for vitiligo in Mainland China, potentially benefiting over 10 million patients.
• Lupus Treatment Advances: Biogen and UCB announced positive topline results from the Phase 3 PHOENYCS GO study evaluating dapirolizumab pegol for moderate-to-severe systemic lupus erythematosus (SLE). The drug met its primary endpoint, showing greater improvement in disease activity after 48 weeks compared to placebo.
• Funding for Rare Disease Therapies: Mabylon AG secured over CHF 1.3 million in grants to advance the development of human-derived TDP-43 intrabodies for amyotrophic lateral sclerosis (ALS) and inflammasome-targeting antibody therapy for inflammatory bowel disease (IBD).
• Duchenne Muscular Dystrophy Treatment: Positive interim data from Wave Life Sciences’ ongoing Phase 2 FORWARD-53 study of WVE-N531, an exon skipping oligonucleotide being investigated in boys with Duchenne muscular dystrophy (DMD), showed substantial dystrophin expression after 24 weeks.

Biotech Company Developments

• Altamira Therapeutics RNA Delivery Platform: Altamira Therapeutics reported strong preclinical data for its RNA delivery platform, SemaPhore, demonstrating dramatic reductions in sarcoma and breast cancer growth. The company is also actively pursuing licensing agreements and collaborations for its RNA delivery technology.
• Bluebird Bio Restructuring: Bluebird bio announced a restructuring to optimize its cost structure and achieve quarterly cash flow break-even in the second half of 2025. The restructuring includes a 25% reduction in its workforce.
• Capricor Therapeutics Duchenne Muscular Dystrophy Focus: Capricor Therapeutics intends to file a Biologics License Application (BLA) for deramiocel for the treatment of Duchenne muscular dystrophy cardiomyopathy. The BLA will be based on existing cardiac data from the Phase 2 HOPE-2 and HOPE-2 Open Label Extension trials.

Medical Device Innovations

• FDA Approval for Eversense 365 CGM System: The FDA cleared Senseonics’ next-generation Eversense 365 continuous glucose monitoring (CGM) system for people with Type 1 and Type 2 diabetes aged 18 years and above. The device can provide up to one year of continuous glucose monitoring with a single sensor.
• Lifeward Expands European Market: Lifeward announced it will begin selling the AlterG family of products through its German sales organization, expanding its presence in the European market.

Global Healthcare Market Trends

• Cancer Supportive Care Market Growth: The global cancer supportive care product market is estimated to reach a value of US$ 35.47 billion in 2024 and is projected to grow at a CAGR of 6.9% from 2024 to 2034. Key players in the market include Amgen Inc., Baxter International Inc., Hoffmann-La Roche Ltd., GlaxoSmithKline Plc, Helsinn Healthcare, Heron Therapeutics, Johnson & Johnson, Merck KGAA, Novartis International AG, Bristol Myers Squibb Company, Eli Lilly and Company, Sanofi S.A., Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., AbbVie Inc., AstraZeneca PLC, Bayer AG, and GlaxoSmithKline Plc.
• Sleep Apnea Devices Market Outlook: The global sleep apnea devices market is projected to reach a value of USD 19.65 Billion by 2031, with a CAGR of 7.32% during the forecast period (2024-2031). Key players in the market include Somnetics International Inc., ResMed, and Philips Respironics.
• Consumer Healthcare Market Expansion: The global consumer healthcare market size was valued at USD 303.37 billion in 2023 and is projected to reach USD 575.40 billion by 2032, growing at a CAGR of 7.51% during the forecast period (2024–2032). Key players in the market include Abbott Laboratories, Amway Corporation, BASF SE, Bayer AG, Boehringer Ingelheim International GmbH, Chr Hansen Holding AS, Glanbia plc, GlaxoSmithKline Plc, Johnson and Johnson Services Inc., Kellogg Co., Koninklijke DSM NV, Nestle S.A., Pfizer Inc., Reckitt Benckiser Group Plc, and Sanofi.

Economy & Real estate

Global Economic Outlook

• Global Monetary Easing: The US Federal Reserve’s decision to cut interest rates for the first time in over four years has sparked a global easing cycle. While this is expected to stimulate economic growth, it may not be enough to address the global economic slowdown, particularly in China.
• China’s Stimulus Package: To boost its economy, the People’s Bank of China announced a significant stimulus package, including interest rate cuts, eased regulations for second-home purchases, and reduced reserve requirement ratios for banks. However, experts remain skeptical about the effectiveness of these measures.
• Debt Relief for Developing Nations: Spain is advocating for emergency pause clauses in loans to developing nations to help them weather natural disasters exacerbated by climate change. This initiative aims to prevent debt spirals and provide crucial relief during economic shocks.

US Real Estate Market

• Office Sector Transformation: W.P. Carey, a diversified real estate investment trust (REIT), has exited the office sector due to headwinds facing the industry. It is now reinvesting its capital in sectors with better long-term growth prospects, such as warehouses and industrial properties.
• Sunbelt Markets Remain Strong: Cousins Properties, an office REIT, is benefiting from robust demand for high-quality office space in the Sunbelt markets. The company’s diversified tenant roster and opportunistic investments continue to drive its growth momentum.
• E-commerce and Mixed-Use Assets: Kimco Realty, a retail REIT, is seeing strong demand for its grocery-anchored shopping centers. It is also expanding its portfolio with mixed-use assets, which combine residential and retail components.
• C-PACE Financing in Texas: Lone Star PACE, a leading administrator of Texas’ Commercial Property Assessed Clean Energy Program, facilitated $3.5 million in financing for sustainable renovations at a Dallas office building. This demonstrates the increasing popularity of C-PACE financing for energy-efficient building upgrades.

Residential Real Estate

• Home Price Growth Slowing: The Case-Shiller home price index for July showed a 5% increase, slightly lower than analysts’ expectations, but still reflects a strong housing market overall.
• Mortgage Rate Impact on Home Sales: The recent decline in mortgage rates is expected to boost home sales and potentially put pressure on new homebuilders.
• Opendoor’s Opportunity: Opendoor Technologies, a real estate technology company, is attempting to disrupt the traditional home buying and selling process. Its stock has suffered due to rising interest rates but has the potential for a significant rebound as rates fall and the housing market recovers.

REIT Performance

• Diversified REIT Performance: Alpine Income Property Trust (PINE) continues to invest in higher-yielding properties while disposing of lower-yielding assets, contributing to earnings growth and portfolio diversification.
• Mortgage REIT Performance: ARMOUR Residential REIT (ARR) announced a $0.24 per share dividend for October, demonstrating its commitment to distributing REIT taxable income.
• Homebuilder Earnings: KB Home (KBH) reported strong third-quarter results, beating analyst expectations for both revenue and earnings.
• Commercial REIT Outlook: SL Green Realty (SLG)’s earnings outlook has improved, leading to an upgrade to a Zacks Rank #2 (Buy) and a Momentum Style Score of A, indicating potential for near-term price appreciation.
• Luxury Homebuilder Performance: Toll Brothers (TOL) announced the availability of move-in ready homes in its Regency at Tracy Lakes 55+ community, catering to the growing active adult housing market.

Retail

Cineplex Drip Pricing

• Competition Bureau’s Win: The Competition Tribunal in Canada ruled in favor of the Competition Bureau, finding Cineplex guilty of drip pricing for adding a $1.50 online booking fee.
• Financial Penalty: Cineplex was ordered to pay a $38.9 million penalty, equivalent to the amount collected from consumers between June 2022 and December 2023.
• Drip Pricing Definition: Drip pricing involves initially offering low prices to attract customers, but then adding mandatory fees, making the final price higher. This practice is prohibited under the Competition Act unless the fees are imposed by the government.
• Cineplex’s Response: Cineplex claimed the online booking fee was optional and provided a valuable service to customers, presenting the fee clearly. They are planning to appeal the decision and penalty.

Plant-Based Seafood

• Oshi’s Chief Culinary Officer: Danielle Brown, a prominent plant-based influencer, was appointed as Chief Culinary Officer of Oshi, a plant-based seafood filet company.
• Mission Alignment: Brown, who previously struggled to find satisfactory plant-based seafood alternatives, embraced Oshi’s mission to eliminate sea pollution and overfishing.
• Brand Partnership: Brown became an equity partner in Oshi, aiming to drive growth and market education for plant-based seafood.
• Product Focus: Oshi’s plant-based salmon filet is designed to taste like real salmon and is made with real ingredients, providing a sustainable and ethical alternative to traditional seafood.

Halloween Deals

• White Castle Promotions: White Castle is offering Halloween deals for both restaurant and retail customers.
• Restaurant Offer: $5 off a Crave Case of 30 Sliders is available using the code “Boo” in the White Castle app or showing a coupon from their website or social media.
• Retail Packaging: White Castle is introducing limited-time Halloween packaging for its 16-count Jalapeño Cheese Sliders, available in grocery stores.
• Website Activities: The company’s website, HauntedWhiteCastle.com, features pumpkin-carving templates, Slider-based recipes, and cocktail recipes.

Luxury Hospitality

• The Luxury Collection in Macau: Marriott International and Sands China Ltd. are debuting The Luxury Collection brand in Macao with the Londoner Grand, a Luxury Collection Hotel, Macao.
• Opening Date: The hotel is anticipated to open in January 2025, aiming to cater to discerning travelers.
• Cultural Fusion: The hotel will blend Macao’s East-meets-West culture with The Luxury Collection’s distinctive perspective on luxury, offering access to the city’s rich heritage, cuisine, and experiences.
• Hotel Features: The hotel features 2,405 rooms and suites designed with Georgian architecture, elegant interiors, and culinary offerings through five distinct dining concepts.

National Quesadilla Day

• El Pollo Loco Promotion: El Pollo Loco is celebrating National Quesadilla Day (Sept. 25) with a buy one, get one free offer for Loco Rewards members.
• Two-Day Celebration: The offer extends for two days, allowing members to buy the Chicken Avocado Stuffed Quesadilla and receive a second one free on Sept. 25 and 26.
• Access Methods: The deal can be accessed in-store, online, or through the El Pollo Loco app.
• Loco Rewards Benefits: The promotion is exclusive to Loco Rewards members. Signing up is free and provides access to exclusive deals, points with every purchase, and special offers year-round.

Infrastructure

Rail Modernization and Digital Transformation

• Eviden’s MCx Solution for CFL: Eviden has secured a contract with the Luxembourg National Railway Company (CFL) to modernize its existing GSM-R command and control room network. This is one of the first commercial MCx projects in Europe deployed by a railway company and a first step towards FRCMS, the future international wireless standard for railway communications and applications. The solution will be fully operational by the end of 2026.
• Eviden’s TETRA Radio Communication Systems for RATP: Eviden has also won a tender from RATP, the Parisian rail company, to equip its MP14 and new MF19 metro trains, and the TW20 tramways with TETRA radio communication systems. The contract covers 132 radio equipments, with an option for 800 radio equipments over a maximum period of 8 years. This project marks one of RATP’s final uses of TETRA technology as the organization prepares for a significant technological overhaul of its metro fleet starting 2035.

Solar Energy Expansion

• FirstEnergy’s West Virginia Solar Program: FirstEnergy Corporation (FE) is expanding its renewable energy portfolio by constructing its third utility-scale solar site in West Virginia. The Marlowe solar project is located on a 36-acre property in Berkeley County and is expected to generate up to 5.75 megawatts (MW) of renewable energy. This project, set to be completed in 2025, is part of the West Virginia Solar Program, which supports a 2020 bill passed by the West Virginia General Assembly that allows utilities to own and operate up to 200 MW of renewable solar energy generating facilities.
• Duke Energy’s Florida Solar Expansion: Duke Energy (DUK) is continuing its investments in solar energy by adding nearly 300 MW of solar capacity in Florida in 2024. This will bring its total utility-owned solar capacity to 1,500 MW by the end of 2024. The company has also filed a multi-year rate plan for 1,050 MW of new solar additions during 2025-2027.

Infrastructure Investment and Funding

• Aurigo Software Contracts with City of Sacramento: Aurigo Software has signed a multiyear contract with the City of Sacramento, California, to implement its Masterworks product suite for managing its capital improvement program. This will digitally manage all aspects of the program, including construction administration, financial management, and progress tracking.
• GCM Grosvenor Invests in Shepherds Flat Wind Farm: GCM Grosvenor has acquired a 25% equity interest in Shepherds Flat, the largest repowered wind farm in North America, from Brookfield Asset Management. The wind farm, located in north central Oregon, is a fully contracted 338-turbine wind farm with a nameplate capacity of 845 MW. This investment aligns with GCM Grosvenor’s Infrastructure Advantage Strategy, which seeks to generate high-quality, risk-adjusted returns through alignment with key stakeholders, including union labor.

Water and Wastewater Infrastructure

• Tallinna Vesi to Increase Water Prices: Tallinna Vesi, the largest water utility in Estonia, has applied to the Competition Authority to revise the prices for water services due to a 19% increase in the price of electricity. The price change will take effect on 1 November and will amount to an average of one cent per cubic metre.
• AECOM to Consult on Walnut Creek WWTP Expansion: AECOM will serve as the prime consultant for the expansion of the Walnut Creek Wastewater Treatment Plant (WWTP) in Austin, Texas. The project aims to modernize the plant, increase its capacity, and upgrade key operational and environmental features. AECOM’s scope of work includes comprehensive process, mechanical, civil, electrical, and structural engineering services.

Dredging Projects and Contracts

• Great Lakes Dredge & Dock Wins $219.1 Million Contract: Great Lakes Dredge & Dock Corporation (GLDD) has been awarded a $219.1 million contract for the Sabine-Neches Waterway Channel Improvement Project by the U.S. Army Corps of Engineers. The project will be carried out in Port Arthur, TX. and is expected to be completed by March 2027.
• WBK Engineering Secures BIA Contracts: WBK Engineering has been selected as the prime contract holder with the Bureau of Indian Affairs (BIA) for a Safety of Dams contract as well as the Irrigation & Power Architect-Engineer Multiple Award Contracts (AEMAC). This award provides a combined contracting opportunity of up to $100M over the next five years.

Aviation and Aerospace

• Legionnaire International Awarded AFWERX Contract: Legionnaire International has been selected for a $3.19M AFWERX Challenge SBIR Commercial Services Offering contract to design and deliver a new potentially podded refueling boom for tactical aircraft – the Small Hybrid Aerial Refueling Kit (SHARK). The SHARK system will enable traditional and non-traditional tanker aircraft to safely refuel current and future military aircraft in flight.
• BAE Systems Awarded IFF Contract: BAE Systems has received a $19 million contract from the U.S. Navy to design and implement UPX-24 target data processor capabilities into a single digital interrogator Identification Friend or Foe (IFF) solution. The upgraded IFF digital interrogator (DI) will optimize data collection and processing to provide time-critical insights and enhance decision making for the maritime fleet.
• Sikorsky Secures $84.3 Million Contract for CH-53K Gearboxes: Lockheed Martin Corporation (LMT) unit, Sikorsky Aircraft, recently secured an $84.3 million contract to supply eight gearbox assemblies for the CH-53K helicopters. The work will be carried out in Stratford, CT, and is set to be completed by December 2028.

LNG and Energy Projects

• KBR Secures Contract for Lake Charles LNG Project: KBR, Inc.’s (KBR) joint venture (JV), KTJV, has recently won a contract from a subsidiary of Energy Transfer LP — Lake Charles LNG Export Company — to support the development of its world-class LNG facility. KTJV is a JV between KBR and Technip Energies. It will provide high-end engineering, procurement, construction management, construction, commissioning, startup and other related services to transform the Lake Charles LNG import facility into an export facility. This project, which aims to meet growing global LNG demand, will deliver three liquefaction trains and upgrade existing storage and dock facilities to enable the export of 16.45 metric tons per year of LNG.
• CIP Acquires Scatter Wash Battery Storage Project: Copenhagen Infrastructure Partners (“CIP”), through its flagship fund, CI V, and Strata Clean Energy (Strata), a leading developer, owner, and operator of renewable energy, announced that CIP will acquire the 255MW / 1,020 MWh Scatter Wash standalone battery storage project in Phoenix, Arizona. Strata will continue to serve as construction and asset manager for the project. The project is scheduled to reach commercial operations in the first half of 2025.

Commodities

Nuclear Energy Revival

• Data Center Fueling Demand: Growing data centers, powered by AI companies like Nvidia, are driving significant energy demand. The global data center power consumption is expected to grow at a compound annual growth rate (CAGR) of ~10% until 2030.
• Nuclear Funding Secured: Major banks, including Bank of America, Citi, and Morgan Stanley, are committing to supporting efforts to triple nuclear power capacity.
• Growing Political Support: Political support for nuclear energy is increasing, with notable backing from Democratic politicians like Pennsylvania Governor Josh Shapiro. This is evident in deals like Constellation Energy’s mega-agreement with Microsoft for nuclear power.
• Electric Grid Solutions: Nuclear power is considered the only viable solution to address the U.S. power grid’s escalating electricity demand, particularly in light of the anticipated AI boom.

Cryogenic Equipment Market

• Industrial Gas Growth: The cryogenic equipment market heavily relies on the consumption of liquefied industrial gases, primarily oxygen and nitrogen. Increasing demand for these gases across various sectors, such as energy & power, metallurgy, and electronics, is driving growth in this market.
• LNG Infrastructure Boost: The surging demand for liquefied natural gas (LNG), driven by its role as a cleaner energy source, is demanding significant investments in LNG infrastructure, further bolstering demand for cryogenic equipment.
• Non-CASU Segment Growth: The non-CASU segment, encompassing diverse cryogenic applications like road transportation, bulk carrier ships, and LNG liquefaction/regasification terminals, is projected to be the fastest-growing market segment.
• Asia Pacific Market Dominance: Due to robust industrial growth and investments in LNG infrastructure, the Asia Pacific region, particularly China, India, Australia, and Japan, is anticipated to be the largest market for cryogenic equipment.

Plastic Recycling Deception

• ExxonMobil Lawsuit: California Attorney General Rob Bonta has filed a lawsuit against ExxonMobil, accusing the oil giant of misleading the public about the recyclability of plastics and contributing to plastic pollution.
• Misleading Claims: The lawsuit alleges that ExxonMobil falsely marketed all plastics as recyclable, while its “advanced recycling” program has been ineffective.
• Public Nuisance Claims: The lawsuit seeks unspecified damages and marks the first attempt by a U.S. government official to hold an oil and gas company accountable for misleading claims about plastics.
• Industry Response: ExxonMobil has denied the accusations, highlighting its efforts to promote sustainable practices and reduce landfill waste.

Meme Coin Surge

• Cat-Themed Cryptocurrency: The Cat In A Dogs World (MEW) cryptocurrency, a Solana-based meme coin, has experienced a significant surge in value, gaining over 10% in 24 hours, as traders capitalize on its recent growth.
• Social Media Driven Demand: Social media engagement for MEW has soared, indicating strong retail interest. Its listing on Revolut and Upbit further fueled its momentum.
• Meme Coin Stagnation: MEW’s strong performance contrasts with the stagnation of other prominent meme coins, like Dogecoin and Shiba Inu.
• Cat-Themed Dominance: Another cat-themed coin, Popcat, has been the top performer for 2024, highlighting the growing interest in alternative meme coins.

Equinor Share Buyback

• Share Repurchase Program: Equinor ASA, a Norwegian oil and gas operator, has repurchased a total of 1,800,000 own shares at an average price of NOK 266.0521 per share from September 16 to September 20, 2024.
• Share Capital Ownership: Following these transactions, Equinor now owns 41,126,202 own shares, representing 1.47% of the company’s share capital.
• Market Abuse Regulation: Equinor is obligated to make this information public pursuant to the EU Market Abuse Regulation.
• Financial Transparency: The disclosure aligns with the requirements of Section 5-12 of the Norwegian Securities Trading Act.

Politics

US Presidential Election

• Trump’s Economic Promises: Donald Trump has outlined new economic policy proposals, including a 10% cap on credit card interest rates and full expensing for manufacturing equipment. These proposals aim to appeal to working-class voters, but critics argue they are not feasible or even harmful.
• Harris’ Economic Platform: Vice President Kamala Harris plans to unveil new economic policy proposals, receiving support from over 400 economists and former White House policy advisors.
• Ukraine and the Election: Donald Trump claimed that Ukrainian President Volodymyr Zelenskyy favors Democrats in the upcoming election, a statement criticized by Harris’ campaign. Trump has also hinted at a possible meeting with Zelenskyy if he wins re-election, while Zelenskyy continues to call for decisive U.S. action to end the war.

US Government

• Government Funding: Congress reached a bipartisan agreement on a short-term spending bill to fund federal agencies through mid-December, avoiding a government shutdown. Final spending decisions have been postponed until after the November elections.
• Social Security Reform: Americans support raising the ceiling on Social Security payroll taxes for high earners, potentially reducing the program’s funding shortfall. However, this measure would not be enough to guarantee the program’s long-term solvency.

Foreign Policy

• US-Taiwan Tensions: Taiwan has denied China’s claims of Taiwanese-backed cyberattacks, calling them baseless and part of a disinformation campaign. The allegations from China come amidst rising tensions between the two nations.
• Global Conflicts: President Joe Biden addressed the United Nations General Assembly, highlighting his diplomatic efforts amidst ongoing conflicts in the Middle East, Ukraine, and Sudan. He emphasized continued support for Ukraine and the need for a two-state solution in the Middle East.

Global Politics

• Argentina Economic Policies: Elon Musk met with Argentine President Javier Milei, discussing economic policies aimed at boosting investments in Argentina. The meeting echoes their previous interactions and displays a shared interest in promoting economic growth.
• China’s Crackdown on Dissent: A leading Chinese economist has disappeared after criticizing President Xi Jinping’s economic policies. This disappearance is part of a broader trend in China, where dissent is increasingly punished under Xi Jinping’s leadership.

Texas Elections

• Dallas Morning News Voter Resources: The Dallas Morning News is introducing two initiatives to assist North Texans in making informed voting decisions in the upcoming election. “Back to the Ballot” focuses on voter education and civic engagement, while the Voter Guide provides side-by-side comparisons of candidates’ positions on crucial issues.

Stock Picks

Consumer Discretionary

Confectionery Challenges

• Cocoa Price Impact: Hershey is facing headwinds from rising cocoa prices, which have not yet declined significantly. This continued price pressure is creating a lasting challenge for the company.
• System Update Strain: Hershey’s recent system update has led to temporary earnings strain due to increased inventory levels. The company anticipates a return to normalcy as the rollout concludes.
• Popcorn Sales Slowdown: Hershey’s popcorn sales have slowed, potentially due to cost-conscious consumers seeking more substantial snacks, adding to the company’s existing challenges.
• Weight Loss Drug Threat: The emergence of new weight loss drugs poses a long-term threat to confectionery demand, potentially impacting Hershey’s future sales.

Tech Stock Moves

• Trump Media Lockup Expiration: Trump Media & Technology Group Corp. (DJT) shares experienced a significant 10.33% drop following the expiration of a lockup period, allowing large shareholders, including Donald Trump, to sell shares.
• GameStop At-the-Market Offering: GameStop Corp. (GME) shares saw a 2.11% increase after the company completed its at-the-market offering program, sparking investor interest.
• Alibaba Cloud Partnership: Alibaba Group Holding Limited (BABA) shares climbed 2.04% due to its cloud computing unit’s partnership with Nvidia Inc. to enhance autonomous driving capabilities for Chinese EV makers.

US Election Market Volatility

• Pre-Election Market Movements: Bank of America has outlined key dates for the stock market leading up to the November Presidential election. The firm predicts potential S&P 500 index fluctuations, particularly on Nov. 6, the day after the election, with an estimated 2.5% move in either direction.
• Analyst Volatility Concerns: Several analysts have expressed concerns about potential market volatility. Stifel warns of a possible 12% market drop by the end of 2024, while Tom Lee anticipates a 7%-10% market pullback in September.

Earnings and After-Hours Trading

• AutoZone Earnings Preview: AutoZone, Inc. (AZO) shares fell 0.7% in after-hours trading before its quarterly earnings release, expected to be $53.53 per share on revenue of $6.22 billion.
• AAR Corp. Beats Estimates: AAR Corp. (AIR) shares gained 3.4% in after-hours trading following the release of better-than-expected first-quarter results, with earnings surpassing analyst consensus estimates.
• THOR Industries Earnings Preview: THOR Industries, Inc. (THO) shares climbed 1.6% in after-hours trading before its quarterly earnings release, anticipated to be $1.30 per share on revenue of $2.47 million.
• Snowflake Convertible Note Offering: Snowflake Inc. (SNOW) shares dropped 3.1% in after-hours trading following the company’s announcement of a $2 billion private placement of senior convertible notes.