Together with Shareholder Vote Exchange (SVE)

Good morning investors! The SEC is expected to announce its decision on Bitcoin ETF today after 'fake news’ sent BTC higher yesterday before it came down again.

Today we cover:

• The world is slowing down. 🌍

• Stocks hitting new highs but the market is mixed. 💼 

• The yearly cost of owning a pet. 🐈

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📊 Economy and News 

Global economy set for its worst half decade of growth in 30 years

The global economy is on course to record its worst half decade of growth in 30 years, according to the World Bank.

The numbers: Global growth is expected to slow in 2024 to 2.43% from 2.6% in 2023. This will be the third straight year that the growth will be falling.

Things are expected to improve in 2025 with the growth expected to reach 2.7% in 2025, however, it will still remain below the pre-pandemic period in terms of five-year average.

The miss: Developing economies are set to be the hardest hit as sluggish global trade and tight financial conditions weigh heavily on growth. The political situation is also expected to take a toll and reduce not just exports but also tourism.

Developing economies are now expected to grow by just 3.9% in 2024, more than 1 percentage point below the average of the previous decade.

Poverty is also expected to jump with 25% of developing countries and about 40% of low-income countries expected to be poorer than they were before the pandemic.

Another report, however, found that some countries, such as Guyana and India will remain strong. But, even first world countries like the UK, Germany, Hong Kong, and China are sluggish.

Global hits:

• Microsoft’s multibillion-dollar investment in OpenAI could face an EU merger probe.

• Samsung warns fourth-quarter profit could plunge 35%, misses expectations.

• Japan’s Nikkei hits 33-year high as Asia markets rebound.

📈 Stocks

S&P 500 4,756.50 (-0.15%)
DJIA 37,525.16 (-0.42%)
NASDAQ 16,678.70 (+0.17%)
BRENT CRUDE 76.76 (-0.065%)
* Prices as of Jan 10th, 12:20 AM UTC

New highs and new lows

Nvidia had another great day. It jumped 1.7% higher, reaching a fresh all-time high of $543.25 during trading but closed at $531.40.

On the other hand, Boeing hit its 2023 jet delivery goal in a blockbuster sales year but let’s not forget that, as predicted, the stock is still in the red and has lost over 12% since the door incident.

Chinese company Alibaba is still struggling and is close to its 52-week low of $70.96, trading at $72.88. The company some say is a buy but might lose even more before it goes back up.

Also, two days ago we asked if you have lost confidence in Boeing since the door incident (as a flyer). Here are the results:

Most importantly, the company has acknowledged ‘mistake’ that caused the incident.

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💵 Personal Finance

Yesterday, we highlighted the one-time cost of buying a pet that goes up to $1,000 for traditional animals. Now, let’s move to yearly costs:

Food: Expect to spend about $120 to $1,000 on food. The amount, however, may go up or down based on the size of your pet and the type and brand you purchase. Most dog owners in the US with large dogs, for example, spend $446 on food per year.

Treats and toys: We understand you’d want to spoil your pet so get ready to shell out anywhere from $20 to $100 per year on toys and treats.

Insurance: Pet insurance can help you save money but it can cost a lot – up to $360 for cats and up to $1,000 for dogs – based on your dog's overall health, age, location, and other such factors.

Medical expenses: Medical expenses include routine medical expenses, such as visits to the vet, dental care, and vaccines. Insurance may cover some of these expenses but not all. Also, it doesn't include big surgeries.

Based on this, we can say that it costs anywhere from $2,000 to $4,000 per year to own a pet. According to this report, the average lifetime cost of owning a dog stands at $28,801. It goes over $30,000 in 13 states. The amount, however, is lower in developing countries such as Turkey and Brazil.

So, what to do? It’s expensive to keep a pet but we can’t neglect the pros of having one. So, have a look at your financial situation and see if you can afford to own a pet. A lot of pets are being given up by people who can't afford to keep them. Ensure you do not end up in such a situation by creating and sticking to a pet budget.

Check this video for more insights:

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