Together with Danelfin

Good morning investors! The year took a turn yesterday with Bitcoin and stocks like Nvidia hitting new highs.

Today we cover:

• The housing market is changing. 🏠

• Stocks are hitting new highs. 🌧

• The cost of buying a pet. 🐕

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📊 Economy and News 

Buyers are back in the housing market

A sharp drop in mortgage interest rates in December seems to have brought back buyers.

Redfin, a national real estate brokerage, found demand starting to pick up in December as rates fell. Redfin’s Homebuyer Demand Index was up 10% from a month ago to its highest level since August.

Pending sales, which measure signed contracts on existing homes, were down 3% from December 2022, but that was the smallest decline in two years.

The average rate on the 30-year fixed mortgage hit a recent low of 6.61% at the end of December, but is up slightly this month to 6.76%. Things, however, are a little unpredictable right now.

Veritas’ Gregory Branch expects a rate 'hike' in the first quarter of the year. However, the general consensus is that rates will remain flat, if not go down in 2024.

How will this impact prices? Experts are split on housing-market forecasts for 2024. However, the general consensus is that prices will not increase at a very high pace.

Global hits:

• Nvidia’s newest chips are designed to run AI at home as competition from Intel, AMD looms.

• Oil falls more than 4% as Saudi price cut heightens global demand worries.

• Supreme Court rejects appeal by Elon Musk’s X on disclosing federal surveillance.

Worrisome: 56 million Americans have been in credit card debt for at least a year.

📈 Stocks

S&P 500 4,763.54 (+1.41%)
DJIA 37,683.01 (+0.58%)
NASDAQ 16,649.88 (+2.11%)
BRENT CRUDE 76.39 (-2.%)
* Prices as of Jan 9th, 12:20 AM UTC

Stock are writing history

The year finally had a great day as all major indexes jumped. Investors are buying the dip. Eyes seem to be set on the technology sector, which lost 4% last week but is back in the business now.

Nvidia was among the best gainers, rising more than 6%, reaching an all-time high of $522.75. Apple threw a curve growing 2.4% after Evercore ISI advised clients to buy last week’s dip.

Boeing, as expected, had a bad day losing 8% due to the decision to temporarily ground dozens of Boeing 737 Max 9 aircraft for inspections. The stock might fall more this week as news arrives. United Airlines found loose bolts on several Boeing 737 Max 9 aircraft after grounding and the situation might worsen for the company.

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🔐 Crypto

Bitcoin $47,171 (+7.41%)
Ethereum $2,342 (+5.34%)
Total market cap $1.73 (+4.31%)
* Prices as of Jan 9th, 12:20 AM UTC

All about crypto

Bitcoin had a great day yesterday, crossing $47,000 for the first time in months. Investors are excited but skepticism also exists.

Here are the latest headlines:

• BlackRock, other potential Bitcoin ETF providers reveal fees with BlackRock fee starting at 0.20%, rising to 0.30%.

• Spot bitcoin ETF applicants file amended S-1 forms in the final step toward approval.

• Gary Gensler issues warning on crypto ahead of potential spot Bitcoin ETF approval.

• Two influential analysts have tipped ETF approval odds at over 90% ahead of the Securities and Exchange Commission decision.

• Stacks price could trigger a 25% rally ahead of Bitcoin spot ETF approval this week.

💵 Personal Finance

The cost of buying a pet

Most of us treat pets as our family members. We take care of them, take them to the vet, buy toys for them, and feed them well. While this makes us happy, we often neglect the financial aspect of owning a pet.

Buying a cat or a dog may not cost much but keeping a pet can be a costly adventure.

Let’s understand the financial cost of having a pet:

Firstly, buying the pet: Based on your location, pet type, and breed, you will spend anywhere from $100 to $10,000 to buy a pet. The amount can go higher for larger or rare animals such as Arabian horses.

Hack: Save money by turning to shelters and ‘adopt’ instead of ‘buying’.

According to PetPoint, adopting a cat less than a year old costs about $82. It goes down to $52 for cats older than one year. Similarly, for dogs less than a year old, the average cost stands at $185. It goes down to $109 for older dogs.

Preparing a home for your pet: This is technically a one time expense. In some cases, you may need a big house that can cost a few thousand and in some a small cage may be enough – depending on your pet. Some pet homes, however, are costlier than others. Aquariums, for example, can cost over $1,000 as they require specific equipment.

In addition, you will need initial supplies such as a litter box ($6 to $350), bed, ($15 to $50), collar ($20 to $50), crate ($20 to $40), and bowls for water and food ($10 to $40). So, expect to spend about $350 to $1,300 on these.

Vaccination costs: Vaccination costs $65 to $200 annually for cats and $115 to $230 annually for dogs. Though not always an option, the adoption center might be willing to offer vaccinations at a discounted rate.

Neuter surgery: It can cost about $150 for cats and $35 to $500 for dogs based on a variety of factors such as the size of your pet. Again, shelters typically charge less for the job. Plus, some charities offer low-cost spay/neuter programs.

Training: You may have to spend to train your pet, especially if you have a dog or horse. It is usually. a one time cost that can be as low as $100 or as high as $1,000 per month.

Licensing: Expect to spend up to $150 per year on licensing costs for dogs and about $60 for cats, which may or may not include microchips. This, however, is not a requirement in all states.

All in all, get ready to shell out at least $1,000 in the first year if you wish to own a pet. This goes higher if you have expensive pets such as horses or exotic birds.

We’ll talk about yearly cost in tomorrow’s issue. So, if you have a pet or if you’re planning to get one, then keep an eye for the next issue.

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