On Friday, Fed Chair Jerome Powell emphasized the need for continued caution in battling inflation and hinted at possible further rate
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2023-08-28 | Sign Up | View Online | Advertise
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S&P 500 4,405.71 +0.67%
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Markets & Economy
Fed Chair Powell calls inflation too high and warns might raise rates further (4 min read)

On Friday, Fed Chair Jerome Powell emphasized the need for continued caution in battling inflation and hinted at possible further rate hikes. Although there is progress against inflation, it is still above the Fed's comfort level. Powell’s speech resembled his earlier warnings, suggesting it's too soon to declare victory over inflation. He expressed a balanced view on risks, aiming to avoid both excessive tightening and inadequate action. The overall message was to focus on data assessment for upcoming decisions, with the possibility of careful tightening.
China hopes expanded Brics will turn world upside down (4 min read)

China's move to expand the BRICS by adding Argentina, Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE aims to counter the dominance of Western-led global institutions like the G7. China had long sought to reform international power and increase the influence of developing nations. With the new members, BRICS would possess significant economic power, comprising 47% of the world's population and 37% of its GDP. However, challenges like differing views and political mistrust among members could hinder its effectiveness as a parallel structure to the G7.
Business & Stocks
Instacart files to go public on Nasdaq to try and unfreeze tech IPO market (4 min read)

Grocery delivery company Instacart has filed for its initial public offering (IPO) after becoming profitable for five consecutive quarters. The company's revenue for the latest quarter reached $716 million, which is an increase of 15% from the previous year. Instacart plans to continue integrating AI into its platform to accelerate growth and create a seamless shopping experience for users. Instacart IPO will trade under the ticker “CART” on Nasdaq next month and it is seen as a revival to the venture-backed tech IPO market, which has been quiet since late 2021.
Nordstrom Says Losses From Theft at Historic High (2 min read)

Despite reporting a Q2 earnings beat, Nordstrom stock still plunged on Friday as the company said that store thefts hit an all-time high over the quarter. Nordstrom's CEO acknowledged the problem on the quarterly call, stating it's unacceptable and is being addressed. He emphasized efforts to improve store safety and financial performance, aiming to mitigate earnings drag caused by thefts. This actually echoes many other retailers who reported similar challenges in the last quarter, which raised concerns about retail stocks’ performance this year.
Funds & ETFs
Thematic ETFs Could Satisfy Thirst for ESG (2 min read)

ESG investing has become a hot topic tied to debates. For investors looking to invest in this category, there are over 300 ETFs that provide targeted exposure without the ambiguity of traditional ESG strategies, making ESG-aligned investing accessible and straightforward. Thematic ETFs, like iShares Global Clean Energy (ICLN) and Invesco Solar (TAN), for example, offer a way for ESG-conscious investors to support without the ESG label. These funds focus on specific themes, like clean energy, and bypass the ESG debates.
Are You Being Deceived by the Bond Market? (3 min read)

The famous 10-year US Treasury bond, despite making headlines for hitting its highest yield since 2007, actually has the lowest yield across all Treasury bonds. Bonds maturing sooner and later than 10 years have higher yields currently. This means that the bargains investors might be waiting for are available in slightly shorter and longer maturities. Several bond ETFs that capture this opportunity were highlighted in this article. As the market approaches uncertainty in the months ahead, bond ETFs with a good yield are worth considering.
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