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End of the US Consumer Boom, AI Optimism Fuels Wall St and Kim Jong Un's Day Out

Author

Anna Eisenberg
September 11, 2023

Anna's Daybreak News

Good morning news lovers! Brace yourself for a journey through the interconnected web of news, where we unravel the latest stories, explore diverse perspectives, and connect the dots of the world's most captivating narratives. 📰🌟

Dare We Ask if the Decades-long US Consumer Boom is Over?
The days of the mighty American consumer are numbered, according to survey respondents in the latest Bloomberg's Markets Live Pulse.
  • More than half of 526 respondents saw a decline in personal consumption as early as early 2024.

  • 21% said the reversal will come sooner, in the last quarter of 2023, as expensive borrowing costs weigh on households.

  • The US consumer has been staving off recession for longer than many expected.

  • But if the survey is right, the decades-long consumer boom is ready to fizzle out like a damp candle in a hurricane.
    • Source: Read More
JPMorgan Billionaire Dimon Kicks Optimism To The Curb: “Huge Mistake To Expect Booming Economy For Years”
  • The head of the largest U.S. bank, JPMorgan Chase CEO Jamie Dimon suggested on Monday that the extended period of good vibes for consumers may soon come to an end.

  • Dimon warns that optimists looking at the "real time numbers" are making a "huge mistake" in expecting the U.S. economy to remain strong for years.

  • High-profile bank failures, Covid-19, and a tightening of monetary policy around the globe are all factors that can lead to a downturn, according to Dimon.

  • Dimon is giving us the gloomy news few of us are willing to hear

    • Source: Read More

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Tech Giants and Tesla Soar on AI Optimism
  • Tesla (TSLA) rocketed 10% after Morgan Stanley upgraded the electric car maker to "overweight"

  • Other megacaps also rose, with Amazon (AMZN) climbing 3.5% and Microsoft (MSFT) adding 1.1%

  • Investors are looking to August consumer price index data due on Wednesday for clues about how close the Federal Reserve may be to ending its campaign of interest rate hikes

  • Wall Street continues to defy the odds, with Monday officially the biggest day of gains this year

  • Inasmuch as this article seems to contradict the previous two, all we are left to believe is that two things could be true at the same time and hopefully we won't end up crossed eyed trying to see them both.
    • Source: Read More
What's Cooking in North Korea and Russia's Kitchen?
North Korean leader Kim Jong Un is travelling to Russia this week to meet with Russian President Vladimir Putin in order to explore potential agreements and deals between the two nations. We break down the possible reasons for the meeting:
  • Kim and Putin may be discussing a possible arms deal, as Moscow looks to replenish its military machine.

  • Kim is likely accompanied by top arms industry officials, among other diplomats

  • The two nations may be exploring ways to strengthen diplomatic and economic ties.

  • They may be looking to negotiate reciprocal cooperation agreements.

  • It's rumored that Kim is bringing Putin a jar of his homemade kimchi- just in case he forgot the recipe!
    • Source : Read More

Baked with love,

Anna Eisenberg ❤️

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