Today is Monday, October 23, 2023.

The Early Bird Index today is 51.95.

New to this newsletter? Sign up here.

Stocks vs. Interest Rates 2023

How are higher interest rates driving the stock market? JJ Kinahan, CEO of IG North America and President of tastytrade, explains all about this in a new episode of the Early Bird podcast.

Background: There’s an inverse relationship between interest rates and bonds, but now investors are dealing with stocks and rates moving in the same direction at times, according to Kinahan.

Current Environment: Kinahan said that investors should get used to having higher rates for longer, which could make the cost of doing business more expensive. It could also force more investors to seek treasuries instead of stocks in order to limit risk.

Strategy: How should investors position their portfolios in a rising-rate environment? Kinahan said that investors should focus on dollar-cost averaging first.

Cryptocurrency: It’s not just stocks that are impacted by rates, as cryptocurrency has also been impacted. Kinahan said that despite these challenges, there’s still an opportunity for crypto investors.

Final Thoughts: Are we heading to a recession in a few months? How should investors monitor interest rates? Find out by listening to a new episode of the Early Bird podcast.

Our Partner: Money Machine Newsletter

Market Beating Stocks in 5 min. Elite traders narrow down the universe of stocks to their best ideas, delivered weekly to your inbox pre-market. Learn more.

Notables

Notable Earnings Today: Cleveland-Cliffs (NYSE: CLF), Packaging Corp of America (NYSE: PKG), Agilysys (Nasdaq: AGYS), Brown & Brown (NYSE: BRO), Crane (NYSE: CR), Simpson Manufacturing (NYSE: SSD), WSFS Financial (Nasdaq: WSFS), HBT Financial (Nasdaq: HBT), Calix Networks (NYSE: CALX), Bank of Marin (Nasdaq: BMRC), Cadence Bank (NYSE: CADE), Bank of Hawaii (NYSE: BOH), Logitech (Nasdaq: LOGI), Hope Bancorp (Nasdaq: HOPE), Medpace (Nasdaq: MEDP), Alexandria Real Estate Equities (NYSE: ARE), Helix Energy (HLX), W.R. Berkley (NYSE: WRB).

Notable IPOs Today: reAlpha Tech Corp. Common Stock (Nasdaq: AIRE).

Notable Equity Crowdfunding Campaigns Ending Today: Superchef's Kitchen (Honeycomb), Ecolution Power (StartEngine), WorthPoint (StartEngine), Sensory Health (MicroVentures), Votem (StartEngine).

Notable Economic Events Today: N/A.

Chainlink Hits 2023 High Price

The price of the cryptocurrency Chainlink surged by 15% on Sunday, soaring past other coins and hitting its 2023 highest price.

Price: Chainlink is up over 80% this year, including a 42% jump in the last 30 days.

Powering the Story: According to one report, a massive uptake on South Korea-based exchanges Bithumb and Upbit is responsible for the sudden price surge.

Final Thoughts: While some analysts feel that Chainlink might be the best-performing altcoin for the year, there are still concerns about the volatility of the asset.

Textainer Says it is Getting Acquired

Cargo container company Textainer Group (NYSE: TGH) announced Sunday that it was going to be acquired by the private investment firm Stonepeak.

Details: Shareholders of Textainer will receive $50 for every share of the company that they own. This represents a big jump from Textainer’s closing stock price of $34.15 on Friday. The deal is expected to close in the first quarter of 2024.

Final Thoughts: Shares of Textainer are up about 9% this year. Getting acquired should make investors happy.

Trends to Watch

Rally Time: Bitcoin price cracks $30K, possibly clearing a path for SOL, LINK, AAVE and STX (Cointelegraph)

Learning from Mistakes: Central Banks Search for Lessons From the Great Inflation Outbreak (Bloomberg)

Problems: Foxconn shares drop after report of China tax audit, land use probe (Reuters)

Medical Breakthrough: New ways to treat bladder cancer improve survival and shake up the standard of care, new studies show (CNN)

House Pains: There’s Never Been a Worse Time to Buy Instead of Rent (Wall Street Journal)

Thank you for reading!

Forward to a friend and tell them to sign up here.

Be social: Like our Facebook page and follow us on Twitter.

Want more investing tips? Listen to the podcast.

Show Your Support: Buy Me a Coffee.

Questions or comments? Hit reply to reach out.