Harvest Returns | March 27th, 2024

Today's insights are courtesy of Harvest Returns. Grow your wealth with passive investments in farming and agribusiness.

Learn More About Harvest Returns ➔

GOOD MORNING

Here’s everything you need to know today. In yesterday's trading frenzy, the stock of former President Donald Trump's Truth Social, under the new ticker "DJT", witnessed a significant market whirlwind in it’s first day of trading.

In the tech sector, Apple is gearing up for its annual Worldwide Developers Conference (WWDC), set against the backdrop of NVIDIA's recent advances in GPU technology and AI frameworks. With the tech community still abuzz from NVIDIA's announcements, all eyes are now on Apple, with anticipations running high for the unveiling of its artificial intelligence strategy at the event scheduled for June 10-14, 2024.

In commodity news, cocoa futures have hit a remarkable peak, surpassing the $10,000 mark per metric ton, driven by reduced yields from major West African producers. This spike raises concerns over the future affordability of chocolate, with market dynamics influenced by supply shortages and regulatory changes aimed at combating deforestation.

Finally, the cryptocurrency sphere is abuzz as Bitcoin surges past the $70,000 mark once again, coinciding with strategic moves by Nilam Resources, Inc. to strengthen its position in the market. This includes acquiring a significant Bitcoin portfolio, highlighting a trend of traditional financial entities increasingly engaging with digital currencies.

These stories encapsulate a day of notable fluctuations and strategic shifts across various sectors, from political figures reentering the public market to major tech conferences and significant movements in commodity and cryptocurrency markets.

Let’s dive into more detail below.

Yesterday, former President Trump's social media platform Truth Social began trading under the ticker "DWC" on the Nasdaq, causing a significant stir in the market. This marks Trump's reentry into publicly traded companies, with the stock experiencing a meteoric rise, peaking near $80 per share. The shares saw a dramatic increase of about 50% in early trading, underscoring the market's volatile response to this new entrant to the space.

With $DWC peaking near $80 per share on Tuesday, Trump's 58% stake was valued at over $5.5 billion on paper. This remarkable debut was facilitated by merging with a special purchase acquisition company (SPAC), Digital World Acquisition Corp., sidestepping the traditional initial public offering (IPO) process.

Despite reporting a mere $3.3 million in revenue for the first nine months of 2023 and operating at a loss, the company has captivated an audience ranging from staunch critics to fervent supporters, potentially positioning it as a "meme stock" driven by its association with the controversial figure of Trump.

CONTINUE READING ➔

Real assets, like income-producing agriculture, provide a hedge against inflation, and are an attractive investment for a diversified portfolio. You can access private investments in natural resources with as little as $5,000 dollars.

Amidst a bustling season of tech advancements, Apple stands poised to make headlines with its annual Worldwide Developers Conference (WWDC) scheduled for June 10 through June 14, 2024. This eagerly awaited event arrives on the heels of NVIDIA's recent conference, which spotlighted significant leaps in GPU technology and AI frameworks. As the industry still processes NVIDIA's innovations, attention is now riveting towards Apple, with high expectations for the tech titan to unveil its long-speculated artificial intelligence strategy.

This year, Apple’s conference promises a blend of in-person celebrations at Apple Park and a global livestream, allowing developers and tech enthusiasts worldwide to partake in the unveiling of Apple's latest innovations. 

Central to the anticipation is Apple's potential reveal of its strategy in artificial intelligence (AI), a domain in which the tech giant has promised significant investment. Beyond expectations of AI breakthroughs, Apple plans to showcase advancements across its ecosystem, including iOS, iPadOS, macOS, watchOS, tvOS, and a major update for the recently launched Vision Pro VR headset.

With Apple at the cusp of revealing its AI ambitions, the industry is watching closely to see how the company plans to navigate and contribute to the fast-evolving AI domain, making this year's WWDC a potentially pivotal moment in the tech world's ongoing AI saga.

CONTINUE READING ➔

In a development that might make even the most dedicated chocolate lovers consider the merits of vanilla, cocoa futures have soared past the $10,000 mark per metric ton, turning the chocolate market into an arena where a chocolate bar could soon be valued like a precious metal.

Triggered by diminishing yields from key producers in West Africa, this significant leap underscores a critical juncture, casting shadows over the affordability and accessibility of chocolate soon.

At the heart of this escalation is a blend of suboptimal harvest outcomes in West Africa and a chronic three-year global shortfall in supply, which have collectively propelled tensions within the cocoa sector to new heights. In New York, futures have peaked at $10,080 a ton, reaching a zenith that was once deemed inconceivable. Experts attribute this to a combination of genuine scarcities and the mechanics of financial markets, where the actions of traders, especially those covering margin calls by unwinding short positions, have fueled this uptrend. This scenario is further aggravated by impending EU regulations designed to combat deforestation, posing additional hurdles for European chocolate producers navigating their supply chains.

CONTINUE READING ➔

In a bold but hot, unheard-of maneuver underscoring the surging enthusiasm for Bitcoin and crypto, Nilam Resources, Inc. (OTC PINK: NILA) has announced an ambitious strategy to deepen its foray into the cryptocurrency arena. This is in light of Bitcoin ETFs seeing a recent total net inflow of $15.7 million, marking a turnaround from the previous five days of net outflows.

This initiative aims to acquire MindWave, a newly minted entity that will secure a vast sum of 24,800 Bitcoin, showcasing a significant commitment to leveraging the potential of cryptocurrencies. This strategic pivot, characterized by issuing a novel Preferred Class of Series C Stock in exchange for Bitcoin at below-market rates, signals a pivotal moment in blending traditional finance with the burgeoning digital currency landscape.

CONTINUE READING ➔

1. S&P 500 Dips for Third Day as Rally Slows

The S&P 500 fell again, marking a slowdown from its recent peak, with the Dow and Nasdaq also seeing slight declines.

2. Tesla and Seagate Tech Lead Gainers

Tesla saw a nearly 3% gain, while Seagate Technology surged 7.4% following an optimistic outlook on AI, highlighting notable market movers.

3. Krispy Kreme Soars on McDonald’s Expansion

Shares of Krispy Kreme leapt 39% after announcing an expansion of its McDonald’s partnership, signaling broader market interest in cyclical sectors.

4. Economic Data Sends Mixed Signals

Strong orders for durable goods contrasted with falling consumer confidence, presenting a mixed economic picture.

5. Oil Prices Adjust Amid Eastern Conflicts

Crude oil futures dipped as the market weighed the impact of Ukraine’s drone strikes on Russian oil refineries.

6. UBS Sees AI Investment Fueling Rally

UBS attributes the market rally to robust Q4 earnings and burgeoning AI investment, despite inflation concerns.

7. Corporate Buybacks Support Equity Market

BofA highlights corporate buybacks as a key factor preventing a significant market pullback, with financials and consumer discretionary sectors seeing the most selling.

8. Goldman Cautions on Cyclical Sectors

Goldman Sachs predicts markets will vacillate between optimism and caution, noting the unusual scenario of rate cuts amidst economic recovery.

9. Real Estate Stabilizes Amid Fed's Steady Rate Policy

A more stable Fed policy is expected to benefit the commercial real estate market, offering a clearer backdrop for strategic investment.

10. Large-Cap Stocks May Win With Fewer Fed Cuts

Goldman Sachs suggests that large-cap stocks could benefit if the Fed cuts rates less than anticipated, due to their robust balance sheets.

CONTINUE READING ➔

Today's insights are courtesy of Harvest Returns. Grow your wealth with passive investments in farming and agribusiness.

Learn More About Harvest Returns ➔

Friends of Moby
Please support our partners who help make this daily report possible

Finance Buzz
Expert Reviews: 5 Top Travel Cards of 2024
Check Them Out ➔  Earn Up to 75,000 Miles With These Leading Travel Credit Cards