The U.S. Housing Market vs. The Canadian Housing Market (2 min read) This article looks at how tiny the US housing price growth has been compared to Canada. Since 2005, Canadian home prices have risen 142% while the US was up just shy of 26%. Despite the slowdown this year, the Canadian housing market would still need to fall an additional 40% to be in line with the US housing growth since 1975. The disposable income versus housing prices growth has also completely gone off the rail in Canada while the US still manages to keep pace.
China vows to support yuan through crisis (2 min read) The Chinese Yuan rebounded slightly from its 16-year low against the dollar on Monday after China’s central bank pledged support as it continue to fall lower in recent weeks. The bank issued warnings to traders trying to speculate against the Yuan and announced several measures to boost the currency. This development is a huge contrast from the narrative earlier this year that the US dollar will lose its dominance as the Yuan catches up.
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Business & Stocks
Tesla jumps as Morgan Stanley predicts $600 billion value boost from Dojo (2 min read) Morgan Stanley's bullish view on Tesla sent the stock surging 10% on Monday. The bank believes Tesla's Dojo supercomputer, designed to train AI models for self-driving cars, could help the company tap into new markets beyond vehicle sales. It is also expected to drive the most value in Tesla’s software and services units which Morgan Stanley believes will be a core earning for the company. The bank raised the price target on the stock by 60% to $400.
Online grocery firm Instacart seeks up to $9.3 billion valuation in IPO (2 min read) Instacart, a rising major US online grocery delivery company, has filed an updated IPO with plans to raise up to $616 million, valuing the company at about $9.3 billion. The initial IPO price range is set at $26 to $28 per share with a total of 22 million shares being issued. The IPO is seen as being one of the biggest in the US this year and will compete directly with firms like Amazon, DoorDash, and Grubhub in the online grocery delivery space.
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Funds & ETFs
BRICS: The Expanding Power ETF Investors Need to Know About (3 min read) The BRICS bloc recently expanded to include over six other economies. This expansion could reshape global economics, making BRICS a major player. With over 40% of the world's population and 25% of global GDP, this bloc offers investment opportunities. This article highlighted iShares MSCI BIC ETF (BKF), Columbia Emerging Markets Consumer ETF (ECON), and other single-country ETFs that investors can use to capture this theme.
ETF shop founded by Vivek Ramaswamy tops $1bn in assets (2 min read) Strive Asset Management, led by Republican presidential candidate Vivek Ramaswamy, has reached $1 billion in assets just a year after launching its first ETF. The firm currently runs 11 ETFs and takes a strong focus on ESG factors into account in its investment strategy. Their largest ETF is the Strive U.S. Energy ETF (DRILL) with $368 million in assets. Ramaswamy stepped down as the CEO earlier this year but still remains the majority owner of the firm.
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