πΊπΈπ¨π³ Trump expressed hope to meet with Xi at the ASEAN summit. The summit is scheduled to take place from October 26 to 28.
ππ¦πΊ Gold could surpass LNG and become Australia's second most profitable export after iron ore, according to a report from the Australian Department of Industry.
Alpha
π Today, TESLA will host the "10/7" event. Analysts anticipate the unveiling of a new, more affordable model.
π Tesla has unveiled an updated, more affordable Model Y, with a starting price of $37,000. For more details, visit Tesla's website.
β οΈπΊπΈ TSLA shares fell by 2% following the presentation of the updated, more affordable Model Y, which features specifications akin to the 2022 Lada Kalina, immediately after the sanctions.
β οΈπΊπΈ Tesla shares fell by 3% as the company announced a price reduction for its vehicles in the United States. This move comes amidst increasing competition in the electric vehicle market. For more details, visit Tesla's website.
β οΈπΊπΈ GM shares fell by 2%, while Stellantis saw a 1% increase. The U.S. Department of Energy is contemplating the withdrawal of approximately $1.1 billion in grants allocated to GM and Stellantis for the retooling of automotive plants.
πΊπΈ A new report from Morningstar reveals the performance of US stocks 100 days and one year after government shutdowns. The analysis highlights historical trends and market reactions during these periods, offering valuable insights for investors navigating potential uncertainties. For more details, visit here.
π Businesses under the MTS umbrella will adopt independent brands as part of a major rebranding initiative, according to MTS Ecosystem President Rovshan Aliyev in an interview with Kommersant. The only exception will be MTS Bank, which will retain its connection to the telecom company. Additionally, MTS AdTech and MTS Urent are expected to be technically prepared for an IPO by the end of the year.
πΌ The issue of financial recovery and the transfer of electric grid assets of "RuHydro" in the Far East will be addressed in the coming years, according to the head of the Federal Antimonopoly Service, Maxim Shaskolsky.
β οΈπΊπΈ AMAT shares fell by 5%, while ASML saw a decrease of 3%. The U.S. House of Representatives Committee has accused Applied Materials and ASML of promoting chip production in China.
π¨ Americans face "a lot of bad" ahead if Congress fails to end the shutdown by next week, warns Senate Republican leader John Thune. Former President Trump has previously threatened widespread layoffs.
π’πΊπΈ The U.S. Department of Energy forecasts that natural gas production and demand will reach record levels by 2025.
π Bitwise CEO anticipates that major tech companies will compete directly with large banks as they begin to offer a comprehensive range of financial services on their platforms. Cryptocurrency technologies, through stablecoins and tokenization, are expected to be a key factor in this future.
π Michael Saylor predicts that the value of BTC will soon no longer be measured in fiat currencies.
π¨ Oil inventory update: According to the API report, crude oil stocks increased by 2.780 million barrels, surpassing expectations of a 2.250 million barrel rise and a prior decrease of 3.674 million barrels.
π David Marcus, CEO of Lightspark and former PayPal president, stated that Bitcoin (BTC) is still "seriously undervalued" compared to gold. He believes it is only a matter of time before its price exceeds seven figures, aligning with the gold market size.
Matthew Sigel, head of digital asset research at VanEck, predicts that after the next halving in 2028, BTC's market capitalization will reach half the size of the gold market, equating to approximately $644,000 per BTC at current prices. Sigel estimates that about half of gold's value is tied to its savings function.
Matthew Sigel, head of digital asset research at VanEck, predicts that after the next halving in 2028, BTC's market capitalization will reach half the size of the gold market, equating to approximately $644,000 per BTC at current prices. Sigel estimates that about half of gold's value is tied to its savings function.