Category: Reddit Post

3 news that don’t make you wanna cry: the economy’s vibe check, crypto’s rollercoaster (again), and battling election chaos

hey folks, doesn’t it feel like the news feed is a constant flow of feces that we tap into every day, trying to make sense of this world? at some point i realized that behind all the facts, quotes and cheap clickbaits i don’t see what’s really happening around, and most importantly, why. i wish there were somebody who’d explain what the fuck is going on instead of just reporting who said what and who did who… couldn’t find such a feed, and my therapist suggested i’d be that person to explain what’s up to myself. turns out, looking at the news from a rather distant and empathetic perspective helps with the anxiety. it starts to makes sense now (just a bit, but still better than zero!) so i’ve been chewing over some stuff that’s been going down lately, and i wanted to share my two cents. there’s a lot happening with the economy showing signs of cooling off, bitcoin doing its unpredictable dance, and news outlets gearing up to combat the flood of misinformation as we head into election season again. here are 3 things i’ve noted 1/3 inflation’s finally taking a chill pill so, for the first time in what feels like forever, inflation in the u.s. is starting to pump the brakes. the bureau of economic analysis just dropped the latest deets: the personal consumption expenditures (pce) price index—the fed’s fave inflation gauge—dipped to 2.1% annually in september from 2.3% in august. i know, numbers can be snooze-worthy, but this one’s a biggie because it hints that maybe the economic madness is easing up a bit. back around 2021, everything was bonkers—prices were sky-high, and it felt like our wallets were on a permanent diet. i remember chatting with friends about how even a trip to the grocery store felt like a splurge. so seeing this slight drop is like finally catching a breather. but let’s not get it twisted—jerome powell and the federal reserve aren’t throwing a party just yet. they’re being super cautious because they don’t want to tank the economy while trying to tame inflation. hiking up interest rates is their go-to move, but that also means loans get pricier, which can cramp everyone’s style when it comes to buying houses or investing in businesses. and honestly, a lot of people aren’t feeling the love from these numbers. food’s still expensive, energy bills are all over the place, and paychecks aren’t exactly blowing up. it’s like we’re stuck in the same grind, and a tiny percentage drop isn’t changing the game for most folks. 2/3 coinbase and bitcoin: when your bff acts up meanwhile, over in cryptoland, things are as wild as ever. bitcoin’s been on a tear, nearing a crazy $73,500. you’d think coinbase would be riding that wave, but nope—their shares took a hit after missing earnings expectations. they reported a 78% jump in revenue to $1.21 billion, which sounds dope until you realize analysts were expecting $1.26 billion. their earnings per share came in at 28 cents instead of the anticipated 45 cents. boom—stock drops 15%. it’s kinda like when you’re at a party, and everyone else is vibing, but you’re stuck in the corner. i got into crypto a while back, more out of fomo than anything else. it’s always been a rollercoaster, but this situation with coinbase is a head-scratcher. they’re pouring money into expanding services and keeping regulators happy—which is adulting 101—but investors aren’t thrilled because it’s eating into profits. on the flip side, bitcoin’s getting a boost because big shots like blackrock and fidelity are eyeing bitcoin etfs. that’s like the varsity team inviting you to play; it’s a big deal. plus, with inflation cooling, some see bitcoin as a solid place to park their money. but let’s be real—the crypto scene is moodier than a teenager. one day it’s all moonshots, the next it’s crash and burn. coinbase’s struggle despite bitcoin’s high just shows how unpredictable this space can be. 3/3 election season: gearing up for the info wars as if things weren’t spicy enough, we’re gearing up for another election. major news outlets like the associated press, fox news, cnn, and abc are rolling out the big guns to fight misinformation. after the 2020 drama, where fake news was spreading like wildfire, they’re not taking any chances. they’re beefing up fact-checking squads, teaming up with tech companies for real-time verification, and locking down their cybersecurity. the associated press has some slick tools now to spot sketchy social media trends before they blow up. i remember during the last election, my feeds were a hot mess—everyone was sharing articles that seemed sus, and it was hard to tell what’s legit. it’s kinda exhausting trying to sift through all that noise. knowing that these outlets are stepping up is a bit of a relief. but trust is still a big issue. a lot of people side-eye the media, and i can’t blame them entirely. biases are real, and sometimes it feels like we’re getting spun. these news orgs have a tough job not just delivering facts but also rebuilding that trust. 4/3 bonus track what ties all this together is that we’re all trying to make sense of a world that’s throwing curveballs left and right. the economy’s showing some positive signs, but not everyone feels it. crypto markets are doing their unpredictable thing, leaving even the pros scratching their heads. and with the election looming, we’re bracing for another wave of info overload. it’s kinda like we’re all trying to juggle while riding a unicycle—it ain’t easy. but maybe that’s just the new normal. we’re bombarded with info 24/7, and it can be a lot to handle. i guess what i’m getting at is it’s okay to feel a bit lost. i’m right there with you. but staying curious, questioning what we hear, and looking out for each other can help us navigate this craziness. whether it’s figuring out how inflation affects our daily hustle,… Continue reading 3 news that don’t make you wanna cry: the economy’s vibe check, crypto’s rollercoaster (again), and battling election chaos

Big Tech’s AI spending spree has Wall Street worried

https://preview.redd.it/zwaptk0urayd1.png?width=1120&format=png&auto=webp&s=3260de595c0ce5d6730b503014b7b7761df40544 For tech’s biggest players, this earnings season is starting to feel like a scene from the movie Jerry Maguire — and the “show me the money” demands aren’t working out any better than they did for Tom Cruise. Some analysts are even dubbing this the “show me the money” quarter, as Wall Street’s patience with massive AI spending begins to wear thin. A tech stock selloff deepened Thursday as investors confronted the mounting costs of Silicon Valley’s artificial intelligence ambitions. Microsoft stock plunged 6% and Facebook parent Meta tumbled 4% after the companies reported earnings late Wednesday. And in after-hours trading Thursday following their own earnings releases, Amazon stock dropped more than 3% and Apple fell 2% — despite all four companies reporting strong quarterly profits. (Some of the stocks were edging back up in pre-market trading on Friday.) Almost two years after ChatGPT kicked off Silicon Valley’s AI gold rush, this week’s tech earnings revealed both the promise and the staggering price tag of the AI revolution. While companies reported significant gains from AI initiatives —Meta’s ad prices up 11%, Google Cloud revenue surging 35% to $11.4 billion, Amazon’s AWS growing 19% to $27.5 billion — their warnings about future spending sparked a broad market retreat. Meta expects capital expenditures of up to $40 billion next year, Microsoft cautioned about ongoing OpenAI losses and slowing cloud growth, and even Apple, making its first careful steps into AI with its Apple Intelligence rollout this week, saw investors retreat — despite record revenue of $94.9 billion. Tech executives’ unwavering faith in AI’s potential stands in stark contrast to investors’ growing anxiety about the costs. “First, it’s clear that there are a lot of new opportunities to use new AI advances to accelerate our core business that should have strong ROI over the next few years,” Meta CEO Mark Zuckerberg told investors. Amazon chief Andy Jassy struck a similar note: “I think we’ve proven over time that we can drive enough operating income and free cash flow to make this a very successful return on invested capital business. We expect the same thing will happen here with generative AI.” Microsoft CEO Satya Nadella emphasized “AI-driven transformation.” And earlier in the week, Google chief Sundar Pichai highlighted “extraordinary momentum.” But while tech leaders speak confidently about long-term returns, the market is increasingly focused on the short-term price tag of these ambitious visions. The mounting infrastructure costs, combined with uncertain timelines for returns, are testing investors’ patience with Silicon Valley’s spend-now-profit-later approach to innovation. Microsoft stock fell more than 6% on Thursday after executives predicted Azure’s growth would slow and warned of weaker expansion in its AI-powered cloud business. The guidance suggested that even for Microsoft, which has emerged as an early AI leader through its partnership with ChatGPT maker OpenAI, the path to AI profits may be longer and costlier than investors hoped. “AI-driven transformation is changing work, work artifacts, and workflow across every role, function, and business process,” said Nadella, whose company saw total revenue rise 16% to $65.6 billion. Microsoft’s overall cloud revenue climbed 22% to $38.9 billion, but the company expects growth in its intelligent cloud segment to slow to 18-20% next quarter. At Google parent Alphabet, Pichai pointed to new AI features in Search and Cloud as key growth drivers helping push revenue up 15% to $88.3 billion. Google Cloud’s profit jumped to $1.9 billion from $266 million a year earlier, suggesting the company is finding ways to monetize its AI investments. Meta leveraged AI to revitalize its core advertising business, with revenue jumping 19% to $40.6 billion. The company forecast fourth-quarter revenue between $45 billion and $48 billion, above analysts’ expectations. But CFO Susan Li warned of a “significant acceleration in infrastructure expense growth next year” due to the “back-end weighted nature” of 2024 capital expenditures and expanding AI infrastructure. The massive spending plans highlight how AI’s transformation of the tech industry remains in its early stages. While the technology is beginning to deliver measurable business results, tech giants are betting billions that the real payoff still lies ahead — and asking investors for patience. Goldman Sachs has recently expressed concerns that while AI has the potential for significant efficiency gains in certain areas, the high costs associated with developing and maintaining AI systems could outweigh the benefits in many cases — potentially making it more expensive than simply hiring human workers for certain tasks. With robust cash positions and strong core businesses, these companies appear able to sustain their AI investments even as costs mount. But the market reaction to Microsoft’s and Meta’s warnings serves as a reminder that even for tech’s strongest players, the AI revolution is proving to be an increasingly expensive proposition with an uncertain timeline for returns. Like Jerry Maguire’s demanding client in the 1996 film, Wall Street’s message to Silicon Valley is getting clearer by the day. As a Bank of America report puts it: “We expect AI to transition from a ‘tell me’ to a ‘show me’ story, with any disconnect between investments and revenue generation to come under increased scrutiny.” submitted by /u/Pale_Transition7946 [link] [comments]

The Labor Department has revised the last TWO jobs reports LOWER by a combined 112,000 jobs.

Initially reported numbers showed that the US added 254,000 jobs in September which was just revised down by 31,000, to 223,000. At the same time, the August jobs report was revised down by 81,000 jobs, from 159,000 to 78,000. 8 out of the last 11 jobs reports have now been revised lower. Neary, 1 MILLION jobs have now been revised LOWER over the last 2 years. submitted by /u/XGramatik [link] [comments]

Apple’s trade-in to save on upgrades

For anyone who’s been eyeing that new iPhone or shiny MacBook but cringing at the price, have you tried Apple’s trade-in? It’s a pretty smooth option if you want to get a bit of value back for your old devices. Apple takes in iPhones, iPads, Macs, Apple Watches, and even some Androids. Trade-in values depend on the condition — think $40 to $650 for iPhones, up to $520 for iPads, and $1,190 max for computers in the US. Here’s a quick example: as of Sept. 2024, a 2023 iPhone 15 in good condition could get you $410, but if it’s beat up, you’re looking at just $103. Sure, you could probably get a bit more selling it yourself, but it’s all about convenience with Apple. They even send a postage-paid box to ship your device, and if it doesn’t meet the condition you stated, they’ll give you the option to back out. https://preview.redd.it/qjn2od5k3ayd1.png?width=936&format=png&auto=webp&s=71c86dd51ce2b63946649ce11f5b8d9d5508878a So, what’s everyone’s experience been? Is it worth it, or are you more into hoarding the old devices in the drawer like a mini Apple museum? submitted by /u/FXgram_ [link] [comments]

Reckitt, Abbott surge after winning an NEC case

https://preview.redd.it/amybh1q4i9yd1.png?width=800&format=png&auto=webp&s=6c212a51d90e7692197e538106515b7a1856d636 A jury ruled on Thursday that Abbott Laboratories and Mead Johnson, a division of Reckitt Benckiser , are not liable for a young boy’s severe intestinal disease, marking a significant win for the companies after substantial losses in similar cases. The verdict dismissed claims that the companies had failed to adequately warn of risks associated with their infant formulas for premature babies. During the five-week trial held in St. Louis, Missouri, attorneys for the plaintiff, Kaine Whitfield, requested over $6.2 billion in damages. Reckitt shares surged more than 10% in London following the news, and Abbott stock added 5% in US premarket trading. “The decision reinforces what we, the medical community and regulatory bodies have said: that preterm infant nutrition products are safe,” Abbott said in a statement. Mead Johnson echoed the sentiment, stating the verdict “demonstrates that the claims in this case were not supported by the science or experts in the medical community.” The lawsuit, initiated by Kaine’s mother, Elizabeth Whitfield, claimed that the companies had not sufficiently warned that their specialized formulas, commonly used in neonatal intensive care units, could lead to necrotizing enterocolitis (NEC). This disease, almost exclusively affecting premature infants, has a mortality rate exceeding 20%. Kaine, now seven, was born prematurely at under 28 weeks, weighing slightly above 1,000 grams (2.2 pounds). After receiving formula at St. Louis Children’s Hospital, he developed the disease, underwent surgery, and survived but now faces lifelong health and developmental issues, the lawsuit stated. The hospital was also a defendant in the case but was found not liable. “While this verdict does not remove the litigation overhang, given prior verdicts and an upcoming MDL process, we think it will increase market confidence in Reckitt’s positioning and stance within the NEC litigation process,” Morgan Stanley analysts led by Rashad Kawan said in a note. This lawsuit is among roughly 1,000 similar cases nationwide, sparking concerns from healthcare professionals who warn the litigation could impact the formulas’ accessibility or influence medical decisions. Abbott’s CEO, Robert Ford , warned investors in an October call that such lawsuits could make it “very difficult for any company to remain on the market with these products” due to “indefinite liability.” Reckitt, which oversees Mead Johnson, has also hinted at a potential divestment, with CEO Kris Licht saying the company was “considering options.” Abbott and Mead Johnson maintain that, while human milk and donor milk reduce the risk of necrotizing enterocolitis, formula does not cause it. They note that the advantages of human milk are well-known and factored into feeding practices in hospitals. U.S. regulatory agencies and a panel of scientists from the National Institutes of Health have found no evidence linking formula to the disease, though Abbott and Mead were unable to present these findings to the jury in this recent trial. “We don’t pretend to be experts on US litigation, but this feels like a big deal to us, putting a spoke in the wheels of what has hitherto been an unremittingly adverse narrative,” RBC Capital Markets analysts said. “Doubtless more will become apparent in coming hours and days, but this feels like good news for Reckitt. We currently assume a £2bn all-in liability in relation to the NEC claims for Reckitt.” submitted by /u/Lor1al [link] [comments]

Amid U.S. DOJ and SEC charges of market manipulation and wash trading to inflate token volumes, Gotbit, ZM Quant, CLS Global, and MyTrade are named, with Alexey Andryunin already charged. – Gentlemen, you cannot trade a pile of junk called crypto. You can only HODL it.

Gotbit market maker CEO Alexey Andryunin faces fraud and conspiracy charges to manipulate the market. The U.S. DOJ indictment also mentions two other Gotbit employees – Fedor Kedrov and Quavi Jalili. Combined charges could land him up to 20 years in prison (NOT ENOUGH!!!!). Andryunin was detained on October 6 in Portugal at the request of the U.S. This and other detentions stem from DOJ and SEC allegations against Gotbit and three other firms – ZM Quant, CLS Global, and MyTrade. All are accused of market manipulation and wash trading to inflate token trading volumes artificially. According to prosecutors, this is the first criminal case for market manipulation in the cryptocurrency sector. – The first prosecution won’t be the last! What kind of SCAM system is this, with a guaranteed loss outcome?! How can anyone TRADE this JUNK knowing they’re already being set up?! https://preview.redd.it/eba0tg60i9yd1.jpg?width=680&format=pjpg&auto=webp&s=35b0a9d02ecd5d6442ed7673bf9ee108bed79f0d submitted by /u/XGramatik [link] [comments]

📊 Regional economic news from ING Yesterday, GDP data for the third quarter were published, and they disappointed experts. Particularly bad news came from Hungary, where a return to technical recession was recorded.

📊 Regional economic news from ING Yesterday, GDP data for the third quarter were published, and they disappointed experts. Particularly bad news came from Hungary, where a return to technical recession was recorded. Disappointing data also came from the Czech Republic, where results were below the central bank’s expectations. According to ING currency analyst František Taborski, the region remains under pressure. We are monitoring developments and their impact on the economy! 🌍💼 submitted by /u/Yuriy_UK [link] [comments]

📊 Inflation data in the eurozone – another argument in favor of euro recovery? Today Eurostat will publish inflation data in the eurozone for October. 🚀 This event highlights the importance of the current macroeconomic situation for the foreign exchange market.

📊 Inflation data in the eurozone – another argument in favor of euro recovery? Today Eurostat will publish inflation data in the eurozone for October. 🚀 This event highlights the importance of the current macroeconomic situation for the foreign exchange market. Ulrich Leuchtmann, head of currency and commodities research at Commerzbank, emphasizes that the results could have a significant impact on the euro. submitted by /u/Yuriy_UK [link] [comments]

📊🧐XAU/USD moves in an ascending channel and tests the 2790 resistance.

XAU/USD moves in an ascending channel and tests the 2790 resistance. 🐻 The RSI and MFI show a bearish divergence and leave the overbought zone, giving a bearish sentiment for the asset. 🥇 However, according to WGC, global gold demand in Q3 2024, taking into account over-the-counter transactions, increased to 1,313 tons (+5% y/y), which became a record for the quarterly demand indicator for the precious metal, so the middle- and the long-term forecast are still bullish. xau #xauusd #usd #forex #gold submitted by /u/Yuriy_UK [link] [comments]

Market news

https://tradingedge.club/share/HsqMmZGk-58-MCd3 submitted by /u/alexc2020 [link] [comments]

Intel Stock Jumps as Sales Top Estimates Despite Widening Losses

https://preview.redd.it/1e9kfgro06yd1.png?width=960&format=png&auto=webp&s=182fe6ff67015ed56d8a80853c61c0d0316a0dc3 Intel reported third-quarter revenue that topped analysts’ expectations, sending shares higher after the bell Thursday despite widening losses. The chipmaker’s third-quarter revenue fell 6% year-over-year to $13.3 billion, above the $13.03 billion consensus estimate of analysts compiled by Visible Alpha. Intel posted a wider-than-expected loss of $16.6 billion, after reporting a $1.61 billion loss in the second quarter as the chipmaker works to cut costs. A year ago, the chipmaker had reported a profit of around $300 million. Intel said it anticipates fourth-quarter revenue of $13.3 billion to $14.3 billion, compared to a consensus estimate of $13.66 billion. It projects a loss of 24 cents per share, steeper than the loss of 12 cents per share analysts had been expecting. Results Come as Chipmaker Works To Turn Around Business Intel’s results come as the storied chipmaker tries to turn around the business after losing market share to competitors and missing key opportunities to benefit from the boom in demand for artificial intelligence (AI). Shares took a hit in recent months as worries mounted about its ability to engineer a comeback after reporting wider-than-expected losses in the prior quarter and announcing massive layoffs. Intel shares surged over 14% in extended trading following the release. They were down more than 57% for the year through Thursday’s close, making it one of the worst-performing S&P 500 stocks of the year. submitted by /u/Lor1al [link] [comments]