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- 🤖 Nvidia's New Rival, 🚨 Spirit Airlines Nosedives 35%
🤖 Nvidia's New Rival, 🚨 Spirit Airlines Nosedives 35%
Plus: Europe Picks Fight With China
Cash Nut
October 04, 2024
In partnership with
October 4, 2024
Rise and grind, investors! ⚠️ Markets are jittery, oil is surging, and we've got a packed agenda today.
In Today’s Edition
📈 By the Numbers
254,000: September job additions
35%: Spirit Airlines' stock drop
3.2%: Social Security COLA increase for 2024
🔥 What's Hot
The U.S. economy flexed its muscles in September, adding a whopping 254,000 jobs and bringing the unemployment rate down to 4.1% from 4.2%. This beat had economists spitting out their morning coffee – they were expecting much lower numbers. The Fed's watching closely, and this might just spice up their next policy meeting.
Spirit Airlines shares took a nosedive (-35% in premarket) faster than your motivation on Monday mornings. After JetBlue said "thanks, but no thanks" to their $3.8B merger, Spirit's exploring the B-word (bankruptcy). The ultra-low-cost carrier might need more than a spirit lift to get out of this turbulence.
After three tense days that had supply chain managers reaching for the antacids, U.S. dockworkers and port operators finally shook hands on a wage agreement. With potential daily losses of $4.5B averted, logistics folks can breathe a little easier.
Now you can refer friends to jobs and get paid for it
Companies offer referral bonuses for new hires, but only to their employees - not you.
But what if you know the perfect candidate?
Enter Draftboard, a platform where companies make those bonuses public and claimable by anyone. Draftboard gives you a simple and seamless way to share job opportunities from the best companies in the world (SeatGeek, Via, Formlabs, Bilt, Triple Whale, OneSginal, etc.) with your network - and you get paid when they get hired.
How Draftboard Works:
Simple Sharing: Copy your unique referral link and send via text message, email, or social media - however you want.
Wide Range of Companies: Access job postings from top-tier companies across various industries - over 80 companies listing roles.
Real-time Tracking: Monitor the progress of your referrals in real-time as they move through the recruiting process.
Why You Should Join Draftboard: Earn extra income with no experience needed on an easy-to-use platform for sharing and tracking candidate referrals.
📊 Market Moves
Markets: Investors Get the Jitters
Wall Street had a case of the nerves yesterday, with markets closing lower after a volatile session. Between the jobs report anticipation and Middle East tensions sending oil prices skyward, traders were reaching for the Tums.
EU Throws Shade at Chinese EVs
Brussels just hit Chinese EVs with tariffs faster than you can say "trade war." The EU's message? Stop flooding our markets with your cheaper electric rides. Beijing's probably not going to take this one lying down, so expect some diplomatic sparks to fly.
💼 Corporate Corner
Rivian's Reality Check Rivian just cut its delivery outlook faster than your New Year's resolutions in February. Supply chain headaches and production hiccups are giving the EV maker a case of the blues.
💰 Money & Policy
Retirees get a COLA boost for 2024. Not exactly hitting the jackpot, but every penny counts when inflation's playing hard ball.
🗾 Land of the Sinking Stocks
Nikkei's Monday Blues
The Nikkei 225 took a 5% nosedive faster than you can say "sushi." Why the market meltdown?
The cocktail of chaos:
August retail sales: Up 2.8% YoY (Reuters said 2.3% - nice try!)
Political plot twist: Shigeru Ishida > Economic Security Minister in LDP showdown
Yen: Doing the cha-cha on trader nerves
Why it matters: Bank of Japan's got a green light for rate hikes. Translation? Stronger yen = 😅 for export giants
🧠 Silicon Valley's New Challenger
Meet Cerebras: The David to Nvidia's Goliath
IPO Alert: Cerebras Systems is hitting Nasdaq (Ticker: $CBRS) with more drama than a tech startup's HR meeting
By the numbers:
2023 Revenue: $78.7M (↑ 220% YoY)
Net losses: Still bleeding 🩸
2023: -$127.2M
2022: -$177.7M
H1 2024: -$66.6M (but hey, that's 14% less red ink!)
The Nuts:
Claims their WSE-3 chip > Nvidia's H100
It's physically bigger (compensating much? 🤔)
87% of sales from one client (G42, UAE) - talk about a clingy relationship!
🚀Startups Nuts
Zepz (fka WorldRemit), a London-based money transfer service, raised $267m
Voyage AI, a Palo Alto, Calif., developer of RAG tools to reduce AI hallucination, raised $20m in Series A funding\
AirOps, an SF-based AI workflow platform, raised $15.5m in Series A funding
Valdera, an SF-based sourcing platform for chemicals and raw materials, raised $15m in Series A funding
Barte, a Brazilian payments startup, raised $14.3m
Voliro, a Swiss aerial mobile robotics startup, raised $12m in Series A equity and debt funding
First Disruption to $martphones in 15 Years 🤳
Here’s a novel concept: Turn your phone from a cost to an income source. Intriguing idea, isn't it? That’s why we have our eyes on the launch of Mode’s Pre-IPO Offering. Mode saw 32,481% revenue growth from 2019 to 2022, ranking them the #1 overall software company, on this year's Deloitte 500 fastest-growing companies list. "EarnPhone," a budget smartphone, has helped consumers earn & save $325M+
*Over 21,997 investors already acquired shares in Mode
Note: This is a paid advertisement for Mode Mobile Reg A offering. Please read the offering statement at https://invest.modemobile.com/.
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That’s your nuts for today! Stay tuned for more updates and insights in our next edition. Have a great day!
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Social Security's 3.2% Raise