Today is Monday, November 14, 2022.
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The IMF's "Gloomier" Outlook
As if the economic conditions weren’t bad enough for investors, the International Monetary Fund (IMF) says that its economic outlook is “gloomier.”
Details: The IMF wrote on Sunday that it has tracked recent manufacturing and services activity in G20 economics and found that more countries “have fallen from expansionary territory earlier this year to levels that signal contraction.”
Background: Last month, the IMF lowered its growth forecast for 2023 to 2.7% percent.
Big Picture: Most stock prices this year are down due to economic headwinds that include inflation and higher interest rates. Last week, positive economic news helped boost some stock prices.
Final Thoughts: Potential economic contraction in 2023 is another concern that investors should consider before buying short-term stocks.
Notable Earnings Today: Tyson Foods (NYTSE: TSN), NU Holdings (NYSE: NU), SNDL (Nasdaq: SNDL), Ginkgo Bioworks Holdings (NYSE: DNA), Monday.com (Nasdaq: MNDY), Exela Technologies (Nasdaq: XELA), Tower Semiconductor (Nasdaq: TSEM), AMMO (Nasdaq: POWW), Clear Secure (NYSE: YOU), Volta (NYSE: VLTA), FREYR Battery (NYSE: FREY), DLocal (Nasdaq: DLO), Jaguar Health (Nasdaq: JAGX), HighPeak Energy (Nasdaq: HPK), Euroseas (Nasdaq: EDEA), Toughbuilt (Nasdaq: TBLT), IM Cannabis (Nasdaq: IMCC), Aethlon Medical (Nasdaq: AEMD), Oatly Group (Nasdaq: OTLY), AST SpaceMobile (Nasdaq; ASTS), Aecom Tech (NYSE: ACM), Li Auto (Nasdaq: LI), J&J Snack Foods (Nasdaq: JJSF).
Notable IPOs Today: NWTN Inc. Class B Ordinary Shares (Nasdaq: NWTN).
Notable Equity Crowdfunding Campaigns Ending Today: Timeplast (StartEngine), Uncle’s Ice Cream (StartEngine), Addiction Cure Therapeutic Sciences (Netcapital), axxios (StartEngine), Game Nite (Honeycomb).
Notable Economic Events Today: OPEC Monthly Report (7:00 a.m. ET).
TWT Token Jumps 24% Due to Tweet
The price of the Trust Wallet native token TWT soared 24% on Sunday.
Catalyst: CoinDesk pinpointed the cause of the increase to Changpeng Zhao, the CEO of the cryptocurrency exchange Binance, for tweeting on Sunday about how users can take personal control of their digital assets with the Trust Wallet.
Background: Trust Wallet is a wallet app that gives users full control of their digital assets. TWT is the wallet’s official token.
Big Picture: It’s been a bad year for digital asset prices, especially the past week with the collapse of the crypto exchange FTX. In light of the FTX news, some crypto investors are now looking for new ways to be safer with their assets.
Final Thoughts: The price of TWT is up 73% in 2022. It’s rare to say that a crypto’s price is up this year.
Equity Crowdfunding Spotlight: Lattis
Briefly describe your business. Lattis is the best B2B SaaS platform for running a mobility business. We are the fleet management infrastructure layer for customers that operate shared fleets, subscription businesses, and delivery services. We consolidate mobility into an ecosystem.
What are the terms of the investment for your campaign? See StartEngine for details.
What makes your startup special? Our software-only approach makes most of the industry players our potential partners and not the competition. We’ve been more resilient than our competitors, allowing us to work with the largest U.S. e-commerce companies.
Trends to Watch
RIP 60-40: The Classic 60-40 Investment Strategy Falls Apart. ‘There’s No Place to Hide.’ (The Wall Street Journal)
We’re Done: Visa has terminated global debit card agreements with FTX (Reuters)
Predictions: After Bitcoin's Worst Week in Five Months, Here's What Crypto Analysts Are Saying (CoinDesk)
Helping Out: China Plans Property Rescue in Latest Surprise Policy Shift (Bloomberg)
That Works: YouWrk, which Offers Stripe powered Recruitment Solutions, Raises Over £143K via Crowdcube (Crowdfund Insider)
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