⁠Wall St Engine
TRUMP ON WHY HE DIDN'T IMPOSE RUSSIA SANCTIONS: DON'T WANT TO SCREW UP A DEAL
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⁠Investing visuals
$TEM is 🔻is down 19% after spruce point short report.

Highlights: AI drives just 2% of revenue, cites questionable leadership and aggressive accounting.

$TEM: A mega-cap in the making? https://t.co/RYT5CdOyg0 - Investing visuals
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⁠Wall St Engine
TRUMP ON MUSK COMMENTS:

WE NEED TO GET A LOT OF VOTES; WE WILL NEGOTIATE BILL, NOT HAPPY ABOUT ALL ASPECTS OF IT; BILL HAS A WAY TO GO; THUNE WORKING WITH ME, OTHERS; NEED ALL REPUBLICAN VOTES ON BILL
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⁠Wall St Engine
TRUMP SAYS HARVARD SHOULD CAP FOREIGN STUDENT ENROLLMENT AT 15%
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⁠Wall St Engine
US sells $70B in 5-year notes at a high yield of 4.071%, slightly below the 4.075% when-issued level. Strong international demand with 78.4% going to indirect bidders, while direct bids slipped to 12.4%. Bid-to-cover was 2.39.
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⁠Wall St Engine
BlackRock plans to buy 10% of Circle’s IPO shares, per Bloomberg. With Circle offering 24M shares at an expected price of $24–$26, that puts BlackRock’s stake at around 2.4M shares. IPO pricing is expected soon. Circle is a top player in the stablecoin market. https://t.co/K4dTwX4PUg
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⁠Wall St Engine
Apple $AAPL has cut its savings account rate again—now down to 3.65%, the lowest since launch. That’s a drop from 3.75% in March and well off the 4.5% peak in early 2024. If you kept $1,000 in the account for a year, you’d now earn just $36.50 in interest. https://t.co/cBcEgDeNjS
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⁠Wall St Engine
FED SURVEY: 73% of Americans said they were doing at least OK financially as of Oct. 2024, steady from last year but still below the 78% peak in 2021. Just 29% rated the economy as “good” or “excellent,” up from 22% in 2023. Emergency cash coverage stayed flat at 63%
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⁠Wall St Engine
Thrifty Ice Cream is shutting down all 500 of its Rite Aid store locations as part of the pharmacy chain’s Chapter 11 bankruptcy. The closures threaten a West Coast favorite dating back to 1940, though other non-Rite Aid counters and retail sales may survive. https://t.co/ssmch8tfY8
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⁠Wall St Engine
FED MINUTES:

`CAUTIOUS APPROACH' APPROPRIATE AMID UNCERTAINTY

*FED WELL POSITIONED TO WAIT FOR CLARITY ON OUTLOOK, MINUTES SAY

*FED OFFICIALS SAW POTENTIAL FOR `DIFFICULT TRADEOFFS' AHEAD
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⁠Wall St Engine
FED STAFF SAW RECESSION “ALMOST AS LIKELY’ AS MAIN FORECAST

FED OFFICIALS SAW POTENTIAL FOR 'DIFFICULT TRADEOFFS' AHEAD

FED MINUTES: TARIFFS MUCH LARGER, BROADER THAN EXPECTED

FED WELL POSITIONED TO WAIT FOR CLARITY ON OUTLOOK, MINUTES SAY
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⁠Wall St Engine
Victoria’s Secret $VSCO is responding to a security incident that’s taken parts of its website and in-store services offline. The company says stores remain open and teams are working “around the clock” to restore operations. Source: Victoria’s Secret.
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⁠Wall St Engine
The TACO trade is the new Trump trade

TACO = "Trump Always Chickens Out." https://t.co/vWrduDdxV6
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⁠Wall St Engine
Trump brushed off the “TACO trade” jab—short for “Trump Always Chickens Out”—saying lowering tariffs brought global powers to the table. “You call that chickening out?” he asked, calling the FT-originated term “a nasty question.” https://t.co/rx86ePvsl6

The TACO trade is the new Trump trade

TACO = "Trump Always Chickens Out." https://t.co/vWrduDdxV6 - Wall St Engine
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