OPEC+ panel holds oil policy steady as Saudi, Russia keep cuts (2 min read)

During the OPEC+ panel meeting on Wednesday, no changes were made to the current oil output policy. The group, however, emphasized it will continue to assess market conditions despite oil prices nearing $100 per barrel for Brent crude. Saudi Arabia and Russia pledged to keep their voluntary cuts to support the market, with both maintaining a combined 1.3 million barrels per day cut until the end of 2023.

US private payrolls rose far below expectations (2 min read)

The latest ADP report shows that US private payroll growth fell sharply to 89,000 in September from 180,000 in August. It also revealed a slowdown in annual wage growth to 5.9%, marking the 12th consecutive monthly decline. The weak job growth comes as a huge contrast to the JOLTS report yesterday which indicates the labor market remains strong. However, the ADP’s number can differ significantly from the government’s official count, which comes on Friday.

Chipotle tests robotic line to make your burrito bowl amid automation push (3 min read)

Chipotle is testing an automated digital assembly line to fulfill digital orders for salads and burrito bowls. As digital sales grew during the pandemic, Chipotle aimed to optimize the workflow. Last quarter, digital sales made up 38% of Chipotle’s total food and beverage revenue, and salads and burrito bowls accounted for 65% of it. If the robotic assembly line test is a success, it would help reduce the company’s expenses, particularly in labor costs.

Auto companies could sacrifice stock buybacks to help pay for union demands, analyst says (2 min read)

Addressing the United Auto Workers (UAW) demand is likely to be costly for major automakers and a way to offset it is to sacrifice on stock buybacks. While stock buybacks usually benefit investors, the UAW sees it as prioritizing shareholders over workers. The strike's cost for carmakers has already reached $3.95 billion, including wages, manufacturing losses, and supplier losses. Expanding strikes could cost billions weekly.

JPMorgan Launches Active ETF From JEPI Portfolio Manager (2 min read)

JPMorgan recently introduced a new active ETF, the JPMorgan Hedged Equity Laddered Overlay ETF (HELO). The fund invests in US large-cap stocks with an options overlay, utilizing a strategy that includes trading put contracts and selling calls with three hedges lasting three months each. It aims to provide investors with lower volatility and increased downside protection. The strategy takes inspiration from the success of its most popular ETF, JEPI.

Best and Worst Performing ETFs of 3Q (2 min read)

In Q3, interest rates played an important role in forming the best and worst-performing US-listed ETFs. The Simplify Interest Rate Hedge ETF (PFIX) was the best performer, returning 52%, capitalizing on rising long-term interest rates. On the flip side, high-interest rates negatively impacted demand for solar and clean tech, with the Invesco Solar ETF (TAN) and 
Global X CleanTech ETF (CTEC) being the worst performers, losing 25%.

AI needs a 'core place' in every portfolio: Strategist (3 min read)

This article highlights comments from a market strategist where he believes investors should consider incorporating AI as a core portfolio holding as the industry expands its footing. While AI is in its early stages, it's already integrated into various industries. As direct investment in ventures may be risky and not easily accessible, investors can look for opportunities in sectors with AI exposure, such as healthcare, banking, fintech, and retail.

Three Things Investment People Hate to Admit (4 min read)

The finance world often struggles to admit ignorance, mistakes, or surprises due to a prevalent master-of-the-universe mentality. There are many incidences that show it’s hard to predict the future, such as the economy remaining resilient despite geopolitical tensions and inflation, yields rising significantly, or housing prices not falling as expected along with surging mortgage rates. No one made any of these predictions ahead of time and yet many now pretend like this was all obvious.

That's it for today! You can reply to this email if you have any comments or feedback.

If you are interested in reaching an audience of investors, entrepreneurs, and financial professionals, you may want to advertise with us.

Thanks,
Thomas

No longer want to receive these emails? Click here to unsubscribe.