UN Warns that the FED's Plans May Cause a Global Recession—Agency Likens Reliance on Higher Interest Rates to a 'Gamble'

Per Forbes and Reuters The United Nations Conference on Trade and Development warned that the Fed's plans might cause a global recession. The agency said that the belief of central banks that higher interest rates could bring down prices without generating a recession is an "imprudent gamble.

Former Peloton CEO Gets Repeat Margin Called for Collateral Shares Once Worth $300M Now Down to $30M

Per WSJ Ex-CEO John Foley received repeat margin calls from Goldman Sachs for shares used as collateral as stock slumps drastically. The former Peloton CEO initially pledged his 3.5 million shares, once valued at $300 million, a year ago. Now, the shares are only worth around $30 million. Foley&

Elon Musk: Nuclear War Probability is Rising Rapidly—Putin Says They Will Respond Accordingly if Attack Continues

Per Elon Musk and CNBC Elon Musk tweeted "Nuclear war probability is rising rapidly." Vladimir Putin acknowledged that he ordered missile strikes on military, energy, and communications facilities in Ukraine saying should the "attacks continue aginst russia, the response will be harsh." The Russian President is

Six Figure Income Required to Live 'Comfortably' in 71% of NYC neighborhoods

Per Bloomberg Rent surge has caused "comfortable" living in 71% of neighborhoods in New York City to require a six figure income. In 2019, a six-figure income was needed to live comfortably in only 58% of the neighborhoods. 35% of full-time workers in New York had six-figure salaries

Average CEO Pay Rose by 11% in 2021—Now Earning 399x a Typical Worker's Wage

Per Market Watch Economic Policy Institution reported that CEO's average pay rose by 11% from 2020 to 2021. The increase means the average CEO now makes 399x a normal worker's wage. In 1965, CEOs only made 20x what the average worker made. The institution said on

PayPal Retracts $2,500 'Misinformation' Fine After Backlash—Blames 'Error'

Per Yahoo News PayPal has reverted its decision to fine users $2,500 for the spread of "misinformation." The company said the fine "was never intended to be inserted in our policy." David Marcus criticized the company saying he used to love the company so much,

Meta's Flagship Metaverse App is Too Buggy Even for Company's Employees

Per The Verge Internal memos revealed that Meta's flagship metaverse app, Horizon Worlds, is too buggy even for the company's employees. Vishal Shah, VP of Metaverse, said the team would be in a "quality lockdown" for the rest of the year until quality gaps

Amazon Ditches Home Delivery Robot as Sales Growth Slows Down

Per Bloomberg and NYT Amazon is abandoning the testing of its Scout home delivery robot testing. The decision shows signs that the eCommerce giant is winding down its experimental projects as sales growth slows. The 400 people working on the project will be offered new positions within the organization. The

US Unemployment Rate Drops to 3.5% in September as Payroll Employment Increases by 263,000

Per BLS and Reuters The Bureau of Labor Statistics said unemployment was down to 3.5% in September as nonfarm payroll employment increased by 263,000. This was a drop from the 3.7% unemployment in August. Job growth reached an average of 420,000/month this year, down from

Report Suggests Average Worker Performance Could Lead to Higher Inflation

Per Business Insider A piece by Business Insider questioned the efficiency of America's workers. "If weak productivity continues, that will lead to higher costs, lower profit margins, and, ultimately, higher inflation." A chart comparing labor age levels with the title "Teens are taking over the

Biden to pardon prior federal offenses of weed possession

Per NYT: President Biden on Thursday pardoned all people convicted of marijuana possession under federal law and said his administration would review whether marijuana should still be a Class 1 drug like heroin and LSD. The pardons will clear about 6,500 people who were convicted on federal charges of

Saudi Arabia has lowered oil prices for Europe but raised them for the US

Per Business Insider: Saudi Arabia is raising oil prices for the US market again, while lowering them for Europe and leaving them largely unchanged for Asia. November shipments of Arab Light crude to Asia from state-run producer Saudi Aramco will remain steady at $5.85 per barrel above benchmark prices.

Nord Stream Leaks Show Sign of Sabotage—Detonations Show Evidence of a Deliberate Act With Spain Pointing to Russia

Per Bloomberg and Reuters Swedish investigators found that detonations caused Russia's Nord Stream gas pipe leaks. The preliminary investigation found evidence pointing towards the incident being a deliberate act. No details were revealed by the Swedish investigators on how the detonation happened or who could be responsible for

Jim Cramer ETF Filed Called Long Cramer $LJIM and Short Cramer $SJIM—Here are 5 Times He was Wrong

Per Business Insider, CNBC, CBS, and Market Watch After taking on Cathie Wood, Tuttle Capital Management filed two new ETFs tracking TV personality Jim Cramer's stock recommendations; Long Cramer ETF $LJIM and Short Cramer ETF $SJIM. 5 times Cramer was wrong: * Nov 2, 2012 - Cramer said to

The White House Says OPEC+ is Aligning With Russia After Group Agreed on Deep Oil Production Cuts

Per FT After the OPEC+ group said they would reduce production targets to 2mn barrels a day (2% of global supply), the US White House accused them of aligning with Russia. The decision to cut production targets was made after an in-person meeting, the first in two years, held in

Twitter Employees Will Quit If Musk Takes Over—CEO Parag Could Receive $42M if Removed From His Position

Per NYT and Reuters Some Twitter employees have already left the company in anticipation of Elon Musk's takeover.  Kevin Roose from the NYT said that all employees he spoke with over the last six months plan to leave if Musk's takeover pushes through. Despite this, CEO

Why Unusual Whales does not carry an 'Below Bid' or 'Above Ask' filter

We often get asked why we don't provide a way to filter for trades taking place 'Below Bid' or 'Above Ask'. Why we haven't: It's impossible to trade outside of the 'NBBO (National Best Bid and Offer) bid-ask spread.

Over 50% of CEOs are Thinking of Downsizing—Remote Workers to be the Least Priority

Per Market Watch and KPMG 1,300 CEOs from the world's largest businesses shared their thoughts on the recession, downsizing, and the remote or hybrid setting. * 91% of CEOs believe a recession is coming in the next 12 months * 51% of CEOs are considering downsizing their workforce, with

US Debt Historically Hits $31 Trillion Resulting in Interest Payments Potentially Overtaking the US Defense Budget by 2029

Per New York Times The US national debt hit $31 trillion, as revealed by the Treasury Department. This comes when historically low interest is being replaced with higher rates. The Congressional Budget Office estimates that expenses on interest alone could overtake the United States defense budget by 2029.

Carl Icahn Said 'The Worst is Yet to Come' After Making a $250M Profit on His Twitter Stake

Per WSJ Carl Icahn said "the worst is yet to come" after making a $250 million profit on his Twitter stake. Icahn was able to amass a stake worth over $500 million over the past few months. Icahn entered his stake at the mid-$30/share mark. Shares

Largest Oil Producer Saudi Aramco Says 'World Should be Worried' About Limitations on Oil Supply

Per WSJ Saudi Aramco's Amin Nasser says limitations on oil supply could lead to a disrupted energy market. The chief executive said when the spare capacity is eroded, there will be little buffer left for interruptions or unforeseeable events. Global crude il benchmark declined over the past four

Survey Finds 49% of Millennials Bailed on Their Investments in the 12 Months Through August

Per CNBC A survey by Ally Financials found that 49% of millennials either sold all or part of their investments in the 12 months through August. The young investors were the heavy sellers over the past year. Only 13% of baby boomers, 17% of Gen Z, and 21% of Gen

$3K/Mo Earners Can Only Afford a 931 Sqft Home in San Diego Compared to a 1,366 Sqft Home a Year Ago, Redfin

Per Redfin Homebuyers earning $3,000/month in San Diego can now only afford smaller homes compared to a year ago. Current buyers can only afford a 931 sqft home at a 6.7% mortgage rate compared to the 1,366 sqft home at a 3% mortgage rate a year

UN Says FED and Central Banks are Risking a Global Recession by Continually Raising Interest Rates

Per Wall Street Journal The United Nations says the FED and other central banks risk a global recession if they continue raising interest rates. UNCTAD estimates that the reduced economic output in poor countries due to the FED's rate increases could amount to $360 billion in three years.

Jim Cramer Promotes Credit Suisse Over 14 Years After Saying 'Bear Stearns is Fine' Before It Went Bankrupt

Per CNBC * Jim Cramer in October 2022: "Whoever gets Credit Suisse, $CS, is going to do quite well... this is some great franchise." * Jim Cramer in March 2008: "Bear Stearns is fine. Do not take your money out." Shortly after Cramer's statement on March