💸Trump Meets Crypto

Welcome to your daily dose of headlines, where we break down the big stories, mix in some surprises, and serve it all with a side of wit. Whether it’s the rising cost of your grocery bill, Walmart crushing it in retail, or Trump diving into the crypto world, we’ve got all the buzz you need to start your day informed and entertained.

Grab your coffee, and let’s dive in! ☕

🍳 Map This: The Grocery Game Across America

Your weekly grocery bill: Depends on your ZIP code.

U.S. households are shelling out an average of $270.21 per week on groceries, with Hawaii topping the charts at a whopping $334. On the flip side, Wisconsin residents get a break at just $221. The data, courtesy of the U.S. Census Bureau, highlights the inflationary pain point—grocery prices have climbed 20% since August 2020, marking the steepest hike since the 1970s.

Why so pricey? Blame higher shipping costs and localized economies. The Midwest enjoys lower costs thanks to farming-based industries, while California, Washington, and New York pay a premium reflecting higher living expenses.

Is your state a saver or a spender? Click here to find out!

💸 Trump Meets Crypto: A Chaotic Cocktail

Trump Media eyes Bakkt in a bid to turn losses into gains.

In the world where politics meets cryptocurrency, Trump Media & Technology Group (the folks behind Truth Social) is reportedly in “advanced talks” to acquire Bakkt, a crypto trading platform. The news sent both companies’ stocks skyrocketing—Bakkt surged 162% while Trump Media gained 16%.

Here’s why it matters: Trump Media, valued at $7 billion, has been operating on fumes, losing $363 million on just $2.6 million in revenue this year. Bakkt could provide the MAGA media giant with a much-needed revenue stream and a touch of legitimacy in a crypto-driven world.

The reunion twist? Kelly Loeffler, Bakkt's ex-CEO and former senator, could find her past and present colliding in this deal. If it goes through, expect a lot more crypto chaos in Trump’s media empire.

🪙 Gold’s Glow Dims Under Trump

Gold prices sink 7% post-election amidst strong equities.

Gold, the traditional safe haven, has lost some of its luster since Election Day, hitting two-month lows. Experts say this reflects confidence in equities and corporate credit markets.

After a stellar 30% rally over the last year fueled by geopolitical tensions and economic uncertainty, gold's drop is a stark contrast. Trump's return to power brings a calmer-than-expected market response, reducing gold's appeal.

Key takeaway: When traditional investments thrive, gold tends to lose its shine.

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🛒 Walmart Wows Again: Q3 Earnings Soar

The retail giant outperforms and raises 2025 outlook—again.

Walmart continues to defy inflationary pressures with stellar Q3 results. Revenue hit $169.59 billion, beating estimates of $167.5 billion, while adjusted EPS came in at $0.58, outpacing expectations.

CEO Doug McMillon credited the retailer’s omnichannel strength, with 22% growth in e-commerce and 26% in advertising revenue. U.S. comparable store sales climbed 5.3%, driven by increased foot traffic and higher ticket sizes.

On the global front, revenue grew 8%, led by Flipkart in India and strong markets in Mexico and China. Walmart’s shares, already up 60% this year, reflect investor confidence in its inflation-proof strategy.

📈 Fiscal 2025 outlook: Sales growth forecast is now 4.8%-5.1%, and operating income is expected to rise by 8.5%-9.25%.

✈️ Other News You Can’t Miss:

• 👎 Spirit Airlines struggles through turbulence: Filing for bankruptcy amid mounting losses, Spirit aims to restructure and fly out of trouble by Q1 2025. Engine recalls, pandemic woes, and a failed JetBlue merger have pushed the airline to its limits. On the bright side, Spirit has secured $300M in financing to keep operations running.

• 📊 Super Micro Computer fights delisting fears: Shares jumped 40% after hiring BDO as its auditor and filing a compliance plan with Nasdaq. The move comes amidst heightened scrutiny over its accounting practices.

• ✂️ Boeing to cut jobs: Over 2,000 workers in Oregon and Washington will be laid off next month as part of a broader plan to reduce its global workforce by 10%.

• 🧠 AI identifies brain disorder subtypes: Researchers using artificial intelligence uncovered three distinct subtypes of Chiari Type 1, a congenital brain condition affecting 4% of the population. This could lead to more personalized treatments for the disorder.

• 🚨 Deepfake scandal hits Pennsylvania school: A student distributed explicit AI-generated deepfakes of 50 classmates, leading to a temporary school closure. The incident raises serious concerns about AI misuse in educational settings.

• 🚘 Tesla rises on regulatory optimism: Shares soared 8% on news of the Trump transition team prioritizing a federal framework for self-driving cars. The move could fast-track Tesla's autonomous vehicle ambitions.

• ₿ MicroStrategy doubles down on Bitcoin: The company added 51,780 BTC to its holdings, now totaling 331,200 BTC, as Bitcoin flirts with the $90K mark.

• 📈 Bakkt’s stock soars amidst Trump Media acquisition buzz: Following reports of advanced talks between Bakkt and Trump Media, the crypto trading platform’s stock skyrocketed 162%, sparking investor excitement.

• 🍎 Apple boosts Indonesia investment: Apple is significantly increasing its investments in Indonesia to comply with local content regulations for iPhone sales. This move reflects Apple’s strategic focus on expanding in Southeast Asia’s growing markets.

Wall Street loads up on surprising $2.1tn asset class

Bank of America. UBS. JP Morgan. They’re all building (or have already built) massive investments in one $2.1tn asset class—and it’s not what you think. It’s not private equity or real estate, but fine art. Why? 

In partnership with Masterworks, data from Citi shows it’s a potent diversifier with low correlation, and certain segments have even outpaced traditional investments. Take blue-chip contemporary art, which has outpaced the S&P 500 by 64% (1995-2023). 

Masterworks knows the power of art investing, with their platform giving 900k+ users the opportunity to invest in this asset class as part of their overall portfolio strategy. In fact, from their 23 exits so far, Masterworks investors have realized representative annualized net returns like +17.6%, +17.8%, and +21.5%* (among assets held for longer than one year). 

With so many users, Masterworks offerings can sell out quickly.

Disclaimer

The content is not intended to provide legal, tax, or investment advice. No money is being solicited or will be accepted until the offering statement for a particular offering has been qualified by the SEC. Offers may be revoked at any time. Contacting Masterworks involves no commitment or obligation. 

📩 Thanks for Reading!

That’s your wrap for today! From groceries to gold, crypto to AI, you’re now fully armed to take on the day. Don’t forget to share this newsletter with a friend who loves a fresh Nuts of news ☕. See you tomorrow!

Stay curious. Stay Nuts…..