Silver banana goes to…

Your Daily Dose of Market & Career Clarity

📬 Delivered to 150,000+ ambitious readers

🎯 In this issue:

• Banana Bits: Finance headlines that actually matter

• Market Summary: Government shutdown threat clouds Fed’s rate-cut path

• What’s Ripe / Rotten: The tastiest and most disgusting stocks 

• Technical Trip: Interview Q&A from Barclays

• Deal Dispatch: M&A, IPOs, and other transactions

Market Snapshot

📉 Banana Bits

• As if we didn’t have enough problems: A possible federal government shutdown.

• Boeing unleashed new fleets to succeed its 737 Max.

• China factory activity improves, but slumps extend to six months.

• Chinese stock are having their best run since 2018.

• Gold soared to fresh highs amid hedging against a U.S. government shutdown.

• S&P plans to cut Electronic Arts to junk status amid buyout deal.

• SEC’s Atkins sees cr*pto work with CFTC as ‘Job No.1’ right now.

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Market Recap

Another Headache for the FED

So what exactly is a federal government shutdown? It has been years since we had one. 

A federal government shutdown occurs when the two parties are unable to agree and can’t pass a bill funding government services into October and beyond. This time, the Democratic Party refused to back a bill introduced by Republicans, as they believe it undermines Americans' ability to afford healthcare. The deadline is Oct.1. 

When there is a lockdown, a lot of federal agencies will cease operations and fire employees. 

One of these federal agencies would be the Bureau of Labor Statistics, which is responsible for some gold-standard economic releases such as JOLTS and Job reports. 

The first major release poised to be affected is the BLS employment report, scheduled for October 3, and the agency’s report on inflation, the Consumer Price Index, which would be the next big release on the sidelines. 

As Gregory Daco, chief economist at EY-Parthenon, said, you don’t want to be flying blind in a foggy environment, referring to the Fed as they rely on job data to make a decision on cutting 25 basis points in the September meeting. 

What's Ripe

Etsy Inc. (ETSY) 15.8%

• ETSY popped 15% in Monday trading after the company said it would move its stock listing from NASDAQ to NYSE, which is set to begin trading on October 13.

• Earlier this week, OpenAI partnered with Etsy to launch instant checkout on ChatGPT. 

Robinhood Markets Inc. (HOOD) 12.3%

• Hood rose 12% after CEO Vladimir Tenev announced that the company had seen successful growth in the prediction markets industry.

• The company has now transacted more than 4 billion of such event contracts, 2 billion of which were in the third quarter alone.

What's Rotten

Firefly Aerospace Inc. (FLY) 11.6%

• Fly shares plunged in overnight trading after the company disclosed an incident during a test of its facility in Briggs.

• The test resulted in the loss of a rocket stage.

Carnival Corp. (CCL) 4.0%

• CCL shares declined 4% even as fiscal third-quarter earnings topped analysts’ estimates.

• The company’s fourth-quarter guidance also beat forecasts, with EPS of $2.14 vs $1.97.

🧠 Technical Trip

Q&A with Barclays

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🦈 Deal Dispatch

M&A, IPOs, And Other Notable Transactions

• Alibaba mulls buying HK office for $900 million, HKET says.

• AI chip startup Rebellions gets funds at $1.4 billion value.

• Zijin Gold soars in HK debut after the world’s top IPO since May.

• Verizon is in talks to purchase EchoStar's wireless spectrum.

• TotalEnergies may sell part of Adani Green stake, CEO says.

• Bulge-brackets Goldman and J.P.Morgan land the biggest LBO ever.

Banana Brain Teaser

Previous

Club X has more than 10 but fewer than 40 members. Sometimes the members sit at tables with 3 members at one table and 4 members at each of the other tables, and sometimes they sit at tables with 3 members at one table and 5 members at each of the other tables. If they sit at tables with 6 members at each table except one and fewer than 6 members at that one table, how many members will be at the table that has fewer than 6 members?

Answer: 5

Today

If p is the product of the integers from 1 to 30, inclusive, what is the greatest integer k for which 3^k is a factor of p?

How Would You Rate Today's Peel?

Happy Investing,
Chris, Vyom, Ankit, Mitchell, Colin, & Patrick

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