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- Harvest Returns | March 11th, 2024
Harvest Returns | March 11th, 2024
Today’s report is brought to you by Harvest Returns. Grow your wealth with passive investments in farming and agribusiness.
MOST ANTICIPATED EARNINGS TODAY
MARKETS AT A GLANCE
| Index/Asset | Day | Month | Year |
|---|---|---|---|
| Dow | ▼0.18% | ▲0.17% | ▲21.69% |
| S&P | ▼0.65% | ▲1.93% | ▲33.60% |
| Nasdaq | ▼1.16% | ▲0.65% | ▲45.68% |
| Bitcoin | ▲0.80% | ▲44.53% | ▲211.60% |
| 10-Year | ▼0.07% | ▼1.52% | ▲16.66% |
[ good morning ]
Here’s everything you need to know today
The markets are trading with a little more pessimism ahead of tomorrow's pivotal CPI report. We've been so caught up in the volatility of the last few weeks that a clear market signal—positive or negative—is a relief all on its own.
With treasury yields pulling back a little in anticipation of a better-than-expected print, equities are getting a little relief as well. Names like Nvidia are recovering after a brutal selloff on Friday. Meanwhile, Bitcoin is dragging its cadre of stocks and altcoins ever higher after crossing $71,000. With bull signals like UK regulators approving crypto-backed ETNs, how couldn't you be bullish?
Either way, there's still a tremendous amount of risk weighing down this market. A hotter-than-hoped CPI may finally kick off a proper selloff, but cooler-than-expected inflation might not be enough to confirm an extended rally. That will have to wait until Jerome Powell's next interest rate decision next week. Q1 is ramping up to a thrilling conclusion.
 | AEROSPACE |
BREAKING NEWS
Boeing stock hit an even bigger patch of turbulence to start the week as the Department of Justice officially opened a criminal probe into an infamous door plug blowout earlier this year.
WHAT HAPPENED
Boeing had a rough start to the year when an Alaska Airlines flight suffered a dangerous decompression when a door plug on a Boeing 737 Max failed and blew a wall off the plane. While no passengers were hurt, it was another very high-profile failure for the beleaguered manufacturer. After months of the mishaps—Boeing is looking into reacquiring Spirit Aerosystems, the parts supplier where a lot of these mechanical issues are stemming from.
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 | SOCIAL MEDIA |
BREAKING NEWS
Reddit has priced their shares ahead of their hyped opening on the NYSE later next week. Let's see if this can spark the 2024 IPO market.
WHAT HAPPENED
In a filing today, Reddit priced their shares at a more modest $31—$34. The company is looking to sell ~22 million shares during their initial filing, which means they're looking to raise $748 million from this IPO alone at a valuation of up to $6.5 billion.
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 | WORLD TRADE |
BREAKING NEWS
Despite concerns about a broader slowdown, Japan printed GDP data today that shows that their economy actually narrowly avoided a full-blown economic recession. What is happening?
WHAT HAPPENED
Initial Q4 GDP data from Japan showed that their economy had shrunk 0.4% YoY in Q4. That would be the second consecutive quarter of declining GDP—which is the biggest technical requirement for an economy to be in a recession. However, revised Q4 data printed today that showed Japan's GDP actually expanded by 0.4% in that period. GDP is complex and hard to calculate, and swings that wide between revisions are common. Japan's economy fell hard in Q3 by 3.3%—so a mild beat in Q4 may not be enough to avoid a recession altogether.
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What You Missed Yesterday
JPMorgan Champions $70k Bitcoin Over Gold in Latest Investment Analysis Fox Corp., Disney, and Warner Bros. Discovery Target Sports Streaming Success Rivian Wins the Price War | HelloFresh Loses Over $1 Billion Costco Sounds Retail Alarm One Dose of LSD Shows Lasting Anxiety Relief and 12% Enhanced Mental Performance |
Extra Moby Snacks
Bitcoin kept surging today—passing $72,000/ token as bull sentiment continued to flood the crypto market. The UK has approved a technical shift that will allow even more institutional money to flood into the space.
Choice Hotels has abandoned their takeover attempt of Wyndham Hotels & Resorts. The company stated their offer expired and that they have withdrawn their nominations for board members. The market loves this as investors feared Choice was about to massively overpay.
Today’s report is brought to you by Harvest Returns. Grow your wealth with passive investments in farming and agribusiness.