Happy Friday: Eggs, 401ks & A.I.

🌞Buongiorno🌞

Dropping a voice-note in the Telegram Channel about yesterdays’s market madness and some of the sketchy content I’ve seen floating around disguised as advice.

Let’s jump in—

Economy📊

Buying eggs has become very expensive. In December 2022, the average price of a dozen eggs in the U.S. was $4.25, more than twice what they cost a year earlier (WSJ)

———

Annuity sales hit a record $310.6B in 2022, surpassing 2008's high (CNBC)

———

US weekly jobless claims dropped to nine-month low (RT)

———

Americans are withdrawing funds from their 401(k)s in record numbers (WSJ)

_____

ChatGPT set record for fastest-growing user base (RT)

———

Markets 💹

Billionaire Ryan Cohen is amassing a stake in Nordstrom. The activist investor seeks the removal of director Mark Tritton, the former chief of Bad Bath & Beyond, according to the Wall Street Journal. (WSJ)

_____

Meta’s share price soared by 25% after robust earnings and CEO Mark Zuckerbergs announcement re: Meta’s year of efficiency.

_____

Apple and Google reported declines in sales & profit, putting a damper on broader market activity.

———

Macro 🌎

Protests in Peru have cut off access to 2% of the world’s copper supply. Prices are expected to jump after the China-owned Las Bambas mine halted operations due to the continuous unrest. (QZ)

———

The US suspects China is behind the surveillance balloon spotted over Montana. The military decided against shooting down the object to avoid falling debris. (QZ)

———

Digital Assets ⚡️

Crypto Miner Marathon Digital sells Bitcoin holdings for the first time (BBG)

———

Meme Digestif ☕️

If you're looking for a modern financial concierge to help you organize, educate, and plan your financial future look no further than Guardia our parent company. Augment your financial ecosystem and join the waitlist here

Join our Telegram Community to immerse yourself in financial thinking (beginner friendly and interactive)