🎉 New high for BTC

Together with RYSE

Good morning investors! The stock market was mixed yesterday but BTC investors have reasons to rejoice.

Today we cover:

• Time to invest in gold?

• Tesla in trouble.

• Bitcoin about to hit a new all-time high.

Follow us on Twitter for more.

📊 Economy and News 

Gold at a new high

Gold futures for April settled at $2,126.30 per ounce, the highest level ever.

It is the second consecutive trading session in a row in which gold has settled at a record, with the April contract closing at an all-time high of $2,095.70 on Friday.

When adjusted for inflation, gold set an all-time high of about $3,200 in 1980, according to Peter Boockvar, chief investment officer at Bleakley Financial Group.

“We’re still a ways away, which then also points to the potential upside,” said Boockvar, who believes gold will also test the inflation-adjusted record.

Gold has performed well despite high interest rates and a strong dollar. It now has upside on the expectation that the Fed will start cutting interest rates this year.

Global hits:

• JetBlue, Spirit end $3.8 billion merger agreement after losing antitrust suit.

• Sooner rate cuts may fuel economic wave, undo inflation progress: Fed's Bostic.

• JPMorgan adds new Turkey rate hike forecast after inflation jump.

Also check: China sets GDP 2024 target of ‘around 5%,’ plans to issue ‘ultra-long’ special bonds for major projects.

📈 Stocks

S&P 500 5,130.95 (-0.12%)
DJIA 38,989.83 (-0.25%)
NASDAQ 18,226.48 (-0.42%)
BRENT CRUDE 82.77 (-0.08%)
* Prices as of Mar 5th, 12:20 AM UTC

China takes Tesla down

Tesla fell by over -7% due to a decrease in sales in China during February mainly due to heightened competition and the Lunar New Year holidays.

These low numbers suggest Tesla may have a difficult time meeting its 2024 goals.

The numbers: The company sold 60,365 China-made vehicles in February, down 19% from a year earlier and the lowest since December 2022.

This isn’t unexpected as the company had warned of "notably lower" sales growth this year as it focuses on the production of its cheaper electric vehicle.

What’s Tesla doing? The company has veiled price cuts and incentives including insurance subsidies to woo consumers in the world's largest auto market.

Plus, it’s making similar moves in the US where it is offering 5,000 free Supercharging miles to all customers who take delivery of a new vehicle by March 31.

Moreover, it has temporarily cut prices of some of its Model Y cars in the U.S.

What’s next? All eyes will now be on the company’s cheaper vehicle set to come out next year.

On the other hand, some other companies in the niche are doing well. Ford sales jumped 10.5% in February, led by gains in hybrids and EV.

Today might be another bad day for the company as its Berlin plant has halted production after a suspected arson attack at a nearby substation.

Sponsored by Ryse

Best Buy Introduces New Smart Home Category 

The leading retailer in the distribution of Smart Home products has recently unveiled a new addition to its smart home lineup , Smart Shades.

There are A LOT of windows out there, and with only a small 10% of them being automated, this is a market that’s already worth billions with projected double digit growth for the next decade!

Recognizing this, Best Buy has made a huge bet on an innovative startup, and has already stocked their product in over 100 retail stores. This up-and-comer is RYSE, and for a limited time, you can invest in their vision of owning the Smart Shades industry.

Best Buy made similar bets on smart-home titans Ring and Nest, both of which saw billion-dollar exits at the hands of Amazon and Google.

Looking to follow in their footsteps, RYSE’s share price has grown by over 20X since it was founded, with significant room for growth as they capitalize on the increasing demand for its patented tech.

🔐 Crypto

Bitcoin $67,113 (-1.80%)
Ethereum $3,721 (-0.01%)
Total market cap $2.52 (-0.01%)
* Prices as of Mar 5th, 12:20 AM UTC

Bitcoin crosses $67,000

Bitcoin jumped to start the week, edging even closer to its all-time high after the rally took a breather over the weekend.

The world’s most popular cryptocurrency was last higher by 7.65% at $67,608.30.

Earlier, it rose to as much as $67,977.77, its highest level since November 2021, when it reached its all-time high.

Ether advanced 3.41%, trading near January 2022 highs at $3,588.83. Some expect it to reach $6,000 this year.

Both coins are coming off their best week in almost a year — bitcoin gained about 21% and ether 16% — but paused their run over the weekend as the market digested two days of steep outflows from the Grayscale Bitcoin Trust (GBTC) that were offset by inflows into other “newborn” bitcoin exchange-traded funds.

At $67,000, bitcoin sits about 3% off its intraday record of $68,982.20 and has a target of $100,000 from some experts.

💵 Personal Finance

ETF types to know about

There are several types of exchange-traded funds (ETFs), each with its own characteristics and investment objectives. Here are some common types:

1. Equity ETFs: These ETFs invest in stocks and aim to replicate the performance of a specific stock index, such as the S&P 500. They offer diversification across multiple stocks within a single investment.

2. Bond ETFs: These ETFs invest in fixed-income securities like bonds. They can provide income through regular interest payments and are generally less volatile than equity ETFs.

3. Sector and Industry ETFs: These ETFs focus on specific sectors or industries, such as technology, healthcare, or energy.

4. Commodity ETFs: These ETFs invest in physical commodities like gold, silver, or oil. They can provide exposure to commodity prices without the need for direct ownership of the physical assets.

5. International ETFs: These ETFs invest in stocks or bonds from countries outside the investor's home country. They provide exposure to international markets and can help diversify a portfolio.

6. Inverse ETFs: Also known as short ETFs, these funds aim to profit from a decline in the value of an underlying index or asset.

7. Leveraged ETFs: These ETFs use financial derivatives and debt to amplify the returns of an underlying index. They are designed for short-term trading and can be riskier than traditional ETFs.

8. Smart Beta ETFs: These ETFs follow rules-based strategies that aim to outperform traditional market-capitalization-weighted indexes. They use factors like value, momentum, or volatility to select and weight securities.

9. Dividend ETFs: These ETFs invest in stocks that pay high dividends. They are popular among income-seeking investors who want to generate regular income from their investments.

It's important to understand the specific objectives and risks associated with each type of ETF before investing.

Check this video for more:

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

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