🥊 Kamala for President?

and ETH ETFs are here

In partnership with

Good morning investors! Political tension is still there but all eyes will be on Tesla today as it’s expected to report second-quarter earnings after the bell.

Today we cover:

  • Kamala ready for a fight?

  • Changes in stocks

  • ETH ETFs get approved

Reminder: Our YT channel has new content uploaded regularly. Check is out now.

📊 Economy and News 

Prepare to welcome Kamala

Democrats are rallying behind Vice President Kamala Harris as their leading candidate for the presidential nomination, resulting in a significant boost in fundraising for both the party and Harris' campaign.

Since President Joe Biden announced the end of his reelection bid, Harris and the Democratic Party have secured approximately $250 million in online donations and major donor commitments.

The Democratic fundraising platform ActBlue has processed $106 million in contributions to Democratic candidates since Biden's withdrawal, according to an automated tracker.

It's still unclear how these funds are divided between House and Senate campaigns and the rebranded Harris for President campaign.

Additionally, a super PAC supporting the Biden-Harris ticket revealed that major donors have pledged $150 million to the Harris election effort over the past 24 hours.

These pledges to Future Forward come from donors who had been hesitant to contribute due to concerns about Biden as the nominee, according to NBC News.

However, until the PAC files mandatory federal campaign finance reports, these pledged donations remain unverified.

The unprecedented fundraising is invigorating Democrats and revitalizing their efforts to defeat former President Donald Trump and his running mate, Sen. JD Vance of Ohio.

Global hits:

📈 Stocks

S&P 500 5,564.41 (+1.08%)
DJIA 40,415.44 (+0.32%)
NASDAQ 18,007.57 (+1.58%)
BRENT CRUDE 82.23 (-0.25%)
* Prices as of Jul 23rd, 12:20 AM UTC

Stocks are again up to something

The S&P 500 surged on Monday, marking its best performance since June 5, as tech stocks rebounded following the index's worst weekly loss since April.

Nvidia jumped +4.8%, recovering some of last week's 8% decline. Other major tech stocks, including Meta Platforms and Alphabet, also saw gains of over +2%. However, CrowdStrike was the S&P 500's worst performer, dropping -13.5% and extending its nearly 18% loss from the previous week.

Last week, tech stocks faced pressure as investors shifted their focus to smaller companies, causing the S&P 500 to fall nearly 2% and the Nasdaq to drop over 3%.

Despite the strong performance in tech, small-cap stocks also showed resilience. The Russell 2000 closed about +1.7% higher on Monday.

Earnings and central bank policy continue to dominate Wall Street's attention. Traders are pricing in a nearly 100% likelihood that the Federal Reserve will cut interest rates during its September meeting.

Ryanair crashes: Shares fell Monday after the company said its quarterly profit after tax had tumbled by 46% in the three months to the end of June.

The budget airline also said it expected fares to be lower than previously anticipated in the coming months.

At 8:57 a.m. London time, Ryanair shares were down 12.2%. Other European airlines followed suit, with EasyJet shedding over 6%, while Jet2 fell 4% and Hungarian airline Wizz Air slid over 6%.

Also check: Guggenheim Securities analysts downgraded CrowdStrike stock, saying signings could be affected after Friday’s widespread outage of Windows computers stemming from a faulty CrowdStrike software update.

Sponsored by Betterment

Your IRA, made to order

Choose where and when you want to retire, and a Betterment IRA can help make your money hustle all the way there.

🔐 Crypto

Bitcoin $67,599 (-0.06%)
Ethereum $3,460 (-0.05%)
Total market cap $2.47t (-0.09%)
* Prices as of Jun 23rd, 12:20 AM UTC

ETH ETFs are here

The Securities and Exchange Commission appears to have given the green light for exchange traded funds that hold ether, the world’s second-largest cryptocurrency. Trading is expected to begin today.

Several fund issuers submitted additional registration statements on Monday afternoon, and exchanges have given notice that the funds will trade on Tuesday, indicating that the SEC has signed off on the funds.

The regulator did not immediately respond to a request for comment from CNBC on Monday. It approved rule changes for exchanges to list ether funds in May.

Some of the companies that have been vying to launch ether funds include massive asset managers like BlackRock, Fidelity and VanEck. Crypto-focused firms like Bitwise, 21Shares and Grayscale — which is effectively converting its multi-billion dollar Ethereum Trust into two ETFs with different fee levels — are also jumping in.

The ether ETFs come about six months after the launch of bitcoin ETFs, which saw some of the most successful debuts in the industry’s history. Combined, the funds have attracted more than $16 billion of net inflows, led by the iShares Bitcoin Trust (IBIT), according to FactSet.

The ether funds aren’t expected to be as popular as the bitcoin funds, in part because the total market for ether is roughly one-fourth the size of the leading cryptocurrencies.

💵 Personal Finance

Investing in commodities

Commodities are real assets that can prove to be good for investors interested in short-term investments. These typically include natural resources, such as oil, agricultural products, natural gas, and precious metals.

Commodities are considered a good option as they provide protection against inflation.

Prices of commodities depend on demand and supply and they’re not linked to public equity markets. However, let us be clear that investing in commodities doesn’t mean buying and keeping a ton of rice or barrels of oil.

You can trade futures, turn to ETFs, or try stocks of commodities producers. However, in some cases, such as precious metals, it may be more suitable to own physical commodities.

These investments do not always offer very high returns, however, they are considered secure. But, prices of some commodities, such as rice and natural gas, can be highly volatile.

Check this video for more on the commodity market:

💰 Be a Better Investor

“All intelligent investing is value investing — acquiring more that you are paying for. You must value the business in order to value the stock.”

Charlie Munger

Resources:

What did you think of today's newsletter?

Login or Subscribe to participate in polls.

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