Morning Download 

Personal finance + economics + markets

Good morning, investors! Monday is always exciting. You look forward to what’s ahead and review what happened over the weekend. We’ll help you recap and prepare.

Fun fact: The term “artificial intelligence” was publicly debuted in 1956 at the Dartmouth Conference. Yes, it is that old.

Today we cover:

• No more U.S. government shut down…for now.

• Strike after strike. It’s healthcare’s turn.

• Investing in AI.

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📊 Economy and News 

The U.S. government to (not) shutdown

In a surprising turn of events, the Senate passed a last-minute spending bill Saturday night averting a government shutdown. The bill received an overwhelming bipartisan vote of 88-9.

What does it mean? This is just a short-term solution.

The bill covers a period of 45 days and includes around $6 billion in new aid to Ukraine and roughly $6 billion in disaster funding.

The job is still pending and lawmakers will get together on Monday to continue hashing out annual spending bills.

What happens after 45 days? The bill only covers a period of 45 days, i.e. until November 17th. The government will have to find another temporary or permanent solution or face another shutdown.

Global hits:

• China’s economy stabilizes, factory activity returns to expansion.

• India-Canada tension not expected to impact India, says expert.

• European stocks log worst quarter in a year with a drop of 2.9%.

• ASEAN presents unprecedented growth prospects across all sectors.

📈 Stocks

S&P 500 4,288.05 (-0.27%)
DJIA 33,507.50 (-0.47%)
NASDAQ 14,715.24 (0.085%)
VIX 17.52 (1.04%)
* Prices as of Oct 2nd, 12:20 AM UTC

Time to prepare for a healthcare strike?

Thousands of health care workers are ready to walk off the job starting Wednesday if their employer, Kaiser Permanente, fails to listen to them.

The strike is expected to last for three days.

What’s the issue? Among the topics on the bargaining table are staffing, pay and guaranteed performance bonuses. The two sides have been negotiating for months.

Employees want a 6.5% raise in the first year of a four-year contract, but Kaiser does not want to go above 3%.

Why is this a big deal? Kaiser Permanente is a large name with facilities in Virginia, Washington, Oregon, and more. The company has over 75,000 health care employees, which would make it the biggest health care strike in the US.

Patients may feel the effects of a strike but it isn't expected to impact the stock market. However, if it drags on then things may worsen. Experts believe that a longer strike in November could have dire consequences. Also, some believe that it could result in a chain reaction, i.e. workers from other companies wanting to go on a strike, which we’ve seen a lot of lately with the auto strike and others.

More:

• United Airlines pilots approve new contract with up to 40% raises.

• Citigroup CEO Jane Fraser sees ‘cracks’ emerging among some consumers due to drying savings.

• Netflix ends DVD rental business (finally).

• Apple to solve overheating issues with an iPhone software update.

🔐 Crypto

Bitcoin $27,112 (+0.2%)
Ethereum $1,674 (-0.3%)
Total market cap $1.12 T (+0.3%)
* Prices as of Oct 1st, 9:00 PM UTC

Ether futures ETFs launching

A Bloomberg ETF analyst, James Seyffart, expects the market to be inundated by Ethereum futures ETFs starting today, October 2nd.

Nine different ETH-based futures ETFs are set to potentially launch today.

Above is a list of financial firms gearing up to issue Ethereum futures ETFs. Here’s more about Bitwise and VanECK.

“The only potential issuers that have not yet submitted updated filings are Direxion, Roundhill, and Grayscale. It’s likely that some or all of them are just not going to bother,” he added.

The risk of a government shut down is the reason why so many companies want to launch ETFs quickly.

Note: The price of Ethereum has remained flat, so make of that what you will.

💵 Personal Finance

How to invest in the AI revolution

Here are a few options (from most risky to least):

• Invest in individual stocks. This is a more risky option, but it can also be more rewarding. When investing in individual stocks, you are essentially betting on the future success of a particular company. Some top AI stocks include Nvidia, Symbotic, and Helix Energy Solutions Group. They have all been up above 200% this year, so it might be wise to look at some newer names as well.

• Invest in mutual funds or ETFs. This is a less risky option than investing in individual stocks. Mutual funds and ETFs are baskets of stocks that are managed by professional investors. This means that you don't have to worry about picking individual stocks, and you can spread your risk across a number of companies.

• Invest in technology-focused exchange-traded funds (ETFs). An ETF is a type of mutual fund that trades on a stock exchange. ETFs are a good way to invest in a particular sector of the market, such as technology. This is because ETFs track a specific index, such as the NASDAQ 100, which includes the 100 largest non-financial companies listed on the NASDAQ stock exchange.

When investing in technology, it is important to do your research and to understand the risks involved. Technology is a volatile sector, and prices can fluctuate wildly. However, if you are willing to take on some risk, investing in technology can be a rewarding and many believe this sector will continue to drive returns, like it has this year.

These ETFs invest in a variety of technology companies, including software, hardware, and telecommunications companies. They are a good way to get exposure to the technology sector without having to pick individual stocks.

When choosing a technology ETF, it is important to consider your investment goals and risk tolerance. ARKK is a more aggressive ETF that invests in disruptive innovation companies. VGT is a more conservative ETF that invests in large-cap technology companies. IYW and XLK are both mid-cap technology ETFs.

It is also important to consider the fees associated with the ETF. ARKK has an expense ratio of 0.75%, while VGT, IYW, and XLK all have expense ratios of 0.15%. The expense ratio is the percentage of your investment that the ETF company charges each year.

Here’s a video for a bit of motivation:

💰 Be a Better Investor

👩🏽‍⚖️ Legal Stuff
Nothing in this newsletter is financial advice. Always do your own research and think for yourself.