Tesla Domination Continues...

Market Update

Tesla: $273.15 | 122.76% YTD

In case you didn’t know, there’s a massive strike taking place at the largest automakers in America. Yep, auto workers at Ford, GM, and Stellantis are on strike after a new 4-year contract could not be made between the companies and the Union.

But that’s only 3 companies. How could that possibly affect Tesla? Well, I’m glad you asked. Here is a list of which brands these companies own.

😲 So…as you can see this is kind of a big deal. Expect a slowdown of inventory from these three manufacturers and a shortage of supply at many dealerships across the country. These extra costs that the Detroit automakers are incurring may trickle down to the consumer, making Tesla look that much more appealing.

Tesla is already having quite the year, but things just got a little sweeter.

Quote of the Day

Bill is an absolute legend of the game. 😎 He gave a powerful and contrarian speech last week at the All In Summit, and it’s been the talk of the town.

He argues that “regulation is the friend of the incumbent.” He warns us about Congress getting their claws into AI regulation, and he says this will only benefit big tech. Makes you wonder why all these big tech CEO’s are in favor of regulation…to keep out the little guys!

Looking Ahead

Instacart IPO 🥕

Instacart will announce its opening price today, with the stock officially hitting the market tomorrow morning. 🍿

After Arm’s impressive opening last week, Instacart is now eyeing a $10B valuation, and we can expect a stock price in the range of $28 to $30. That’s a lot of value for a company that delivers groceries!

Emperor Powellpatine

It’s a big week for the economy as the Federal Reserve begins its two-day meeting tomorrow to decide what to do with interest rates. The consensus is that rates are going to be held steady at 5.25% - 5.5%, but the market is going to pay close attention to any clues Powellpatine gives about Fed decisions going forward.

In June, Fed officials projected four 25-basis-point cuts in 2024, but 12 of the 18 Fed officials thought interest rates needed to be increased before that could happen. We will be listening to hear if the Emperor maintains this outlook going forward and if the rest of the officials are in agreement.

Why this matters to you?

The Fed’s interest rate decision directly impacts several areas of American’s lives. With rates rising, here are the three categories that just got more expensive.

• Mortgages 🏡

• Auto Loans 🚗

• Credit Card Debt 💳

High-yield savings accounts are looking pretty nice right about now. But we still hold firm to our belief that the stock market is the best place to park your cash as long-term investors.

Daily Meme