Morning Market Download from Invincible Money 

Personal finance + economics + markets 

Staying on top of the markets, economics and the global issues that affect your money takes a lot of time and effort. We distill it down to a quick 5 minute read to help you make better money decisions.

EconomyInflation is going down in one category, e-commerce, as prices have been dropping for 7 straight months, per the Adobe Digital Price Index. Electronics prices are down 12.9% while flowers and gifts are down 24.3%. Retailers are dropping prices to entice shoppers who have cut back on spending.

Yesterday I wrote about how more factories are being built in the U.S. One consequence is a boom in construction jobs - up 3.3% (149,100 new jobs) last year. Spending on new plants was the highest on record last year. One reason is companies restructuring to manufacture closer to home.

CPI (Consumer Price Index) is expected to come in less than 5.1% today.

The International Monetary Fund (IMF) predicts 2.8% global growth this year and warned of a hard landing if interest rates remain high to fight high inflation.

NewsSilicon Valley VCs are now seeking funding from sovereign wealth funds in the Middle East thanks to the lowest liquidity in nearly a decade in the U.S.

StocksThe head of equity strategy at Wells Fargo is predicting a 10% correction in the S&P 500 in the next 3-6 months (to about 3,700).

Novatek, the Russian energy company, will acquire Shell's 27.5% stake in the Sakhalin-2 energy project for $1.16 billion.

GM investing $50 million into a lithium extraction startup called EnergyX, while Ford is investing $1.3 billion to build an EV plan in Ontario, Canada.

WeightWatchers gained 58.98% after Goldman Sachs upgraded the company as the get into the obesity medication market.

This story about how Oprah made $110 million from partnering and investing in WeightWatches is a great lesson on building a brand.

Alibaba is integrating ChatGPT-style tech into its platforms. The first tech to be launched will be the Tmall Genie smart speakers and the messaging platform DingTalk. The Chinese government came out with some interesting rules for the AI tech:

1. The content should not destabilize state power (rule #1, of course).

2. The data should not discriminate against ethnicity, race, and gender.

3. The model can't create false information.What do you think of this list? Reply to this email and give me your thoughts.

(Sidenote: Italy just banned ChatGPT and other AI services and others are looking to do the same.)

CryptoBitcoin set a 10-month high as it passed the $30,000 and has maintained it. BTC is up 80% YTD and Ethereum is up 60%, largely as a result of the troubles in the banking sector.

Remember Justin Sun's Tron (TRX)? Binance US announced they'll be delisting it only 3 weeks after the SEC accused the founder of market manipulation. It's the #17 token, but I've never met anyone who has it. Have you? Reply to this email if you hold it.

The ETF Database reports that out of the top 20 best performing ETFs this year, 13 are crypto related.

Be a Better Investor

Don't Let Bias Get In Your WayOverconfidence bias: the tendency to overestimate one's own abilities and the accuracy of one's own predictions.

Legal StuffNothing in this newsletter is financial advice. Always do your own research and think for yourself.