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TL;DR: Magnificent 8, the million-dollar cocktail, watch for the crypto pig!

Happy Labor Day Weekend! If you are in the US, I hope you are enjoying this extra long weekend by reading today’s newsletter from a relaxing pool, beach or the comfort of your home. 

Super exciting announcement before we get started today, Investrio advanced to top 10 finalists for the Startup World Cup, a chance to represent Miami on the global stage. The final prize is $1 MILLION DOLLAR 🙀 investment. Stay tuned to find out if we will make it to the top!

Market Watch👀

We are still in the middle of earnings season, with companies like NVIDIA and JP Morgan reporting profits, but consumer companies, growth is starting to lag. Earnings season is like receiving the companies’ report card and despite the “good” grades, we are looking beyond the headlines. We’ve seen the growing number layoffs and company reshuffles, which is always a sign for caution.

On Friday, inflation data for the month of July was released, reaffirming that the backbone of the US economy, you the consumer, is still holding strong, but your piggy banks might be getting lighter. This is setting up for a Septemeber rate cut, the question now is how much of a cut? Markets this week closed: S&P -0.50%, NASDAQ -1.41%, and  Dow Jones 0.36% this week.

🚨On the radar:

Nvidia - the microchip super company, reported impressive earnings this week, with a 122% year-over-year surge in revenue and earnings surpassing Wall Street’s expectations. But the stock faced a dip of 7% on Wednesday as skeptics digested the news. The fear is that growth plateaued slightly, and the future is uncertain. It's one thing to be underperforming, but that's not the case. Nvidia's remarkable rise has reached its peak for now, but it still faces incredible demand. This might be one of the most important companies of the year, and they have the receipts (stock value) to prove it.

Grocery Competition - In the world of grocery giants, a new player is set to stir things up. Kroger's $20 billion bid to acquire Albertsons is heading to court, drawing attention to a lesser-known brand: C&S Wholesale Grocers. With a history of over a century, the company aims to acquire 579 stores from the Kroger-Albertsons deal for $3 billion. If successful, C&S will become the eighth-largest grocer in the U.S., pushing the combined Kroger-Albertsons entity into the top spot. The U.S. government is involved due to concerns that this mega-merger could further unbalance the industry, potentially increasing consumer prices.

The new Mag 8 - Berkshire Hathaway joined the $1 trillion club when it crossed the $1 trillion market cap for the first time, making it the eighth U.S. company to achieve this milestone. It’s wild because, unlike the other companies, BH is a conglomerate that owns Geico Insurance and Duracell Batteries, Benjamin Moore, and some lesser-known names in utilities, manufacturing, apparel, and more. Berkshire's market value has increased by $224.1 billion this year, more than the entire market cap of major companies like American Express and McDonald's. Led by the most legendary investor, Warren Buffett, which teaches us a lesson: invest across different sectors and stay diversified.

Thirsty Crowd - US Open, a tennis competition that is a hallmark of summer in NYC is happening right now with a record level of attendance. But there’s one thing that is shocking: the Honey Deuce sales. The league's signature drink alone generates over $10 million in revenue. This year, the cocktail costs a whopping $23 dollars! 

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💰 Crypto Corner

The Crypto Swindlers 💔🐷 - Have you heard of the "bringing home the bacon" phrase? Crypto scammers have taken it literally with a scam called "pig butchering." According to the latest Chainalysis report, scammers are moving away from traditional Ponzi schemes and opting for scams like pig butchering, which has become one of the top-earning scams of 2024.

So, what is Pig Butchering? It's a scam where criminals build trust with their victims through fake romantic relationships on dating apps or social media. These scammers gradually persuade their victims to invest in fraudulent crypto schemes, often resulting in significant financial losses.

The increase in pig butchering scams is linked to intensified law enforcement efforts against broader Ponzi schemes and the blacklisting of scam addresses by stablecoin issuers.

Stay Safe:

🔍 Verify First: Research any investment opportunity thoroughly.

🚩 Trust Your Gut: If someone online pushes you to invest quickly, be cautious.

🛑 Avoid Suspicious Links: Don’t click on links from unknown contacts.

🤐 Protect Your Info: Never share financial details with strangers.

🙅‍♂️ Say No: If it sounds too good to be true, it probably is.

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In Abundance,
Joyce and Laura