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Good morning investors! Last week was bad for stocks and crypto with BTC still under $100,000. This week the focus will again shift to earnings as Nvidia is expected to announce.
Today we cover:
What to expect this week
Luxury products still in demand?
Berkshire Hathaway remains invested in AI stocks
📊 Economy and News
What to expect this week
Gov't shutdown ended after 43 days; data releases may resume but some delays possible. Focus: Nvidia earnings amid AI volatility; retail reports from Walmart, Target, Home Depot; housing & sentiment data.
Monday, Nov 17
Empire State manufacturing survey (Oct)
Fed speech: NY Fed Pres. John Williams
Earnings: XPeng, Aramark
Tuesday, Nov 18
Homebuilder confidence (Nov)
Industrial production/capacity (Oct)
Import prices (Oct) – possible shutdown delay
Earnings: Home Depot, Medtronic, Baidu, PDD Holdings, Klarna
Wednesday, Nov 19
Existing home sales (Oct)
Housing starts (Oct) – possible shutdown delay
Oct FOMC minutes
Fed speech: NY Fed Pres. John Williams
Earnings: Nvidia, TJX, Palo Alto Networks, Lowe’s, Target, Viking Holdings, Williams-Sonoma
Thursday, Nov 20
Philly Fed manufacturing (Nov)
Leading economic indicators (Oct)
Jobless claims (week ending Nov 15) – possible shutdown delay
Fed speech: Chicago Fed Pres. Austan Goolsbee
Earnings: Walmart, Intuit, Ross Stores, Gap
Friday, Nov 21
Consumer sentiment final (Nov)
S&P Flash PMI (Nov)
Earnings: BJ’s Wholesale
Global hits:
.Samsung and other South Korean firms pledge larger domestic investments after U.S. tariff deal
India’s exports to the U.S. slumped in September amid elevated tariffs.
Japan considering stimulus package sized around 17 trln yen.
Good to know: U.S. and Switzerland reach trade deal to lower tariffs to 15%. Also, President Donald Trump exempted agricultural imports like beef, coffee, cocoa and bananas from his higher tariff rates..
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📈 Stocks
S&P 500 6,734.11 (-0.050%)
DJIA 47,147.48 (-0.65%)
NASDAQ 22,900.59 (+0.13%)
BRENT CRUDE64.35 (+2.19%)
* Prices as of Nov 16th, 12:20 AM UTC
Luxury Demand Stabilizes in China, Executives Say
Chinese luxury shoppers are returning amid stabilization, executives told CNBC at JPMorgan's Paris conference. Prada CFO Andrea Bonini is "cautiously optimistic," noting structural trends persist but full normalization may wait until 2026.
Coach CEO Todd Kahn reported 20% China growth for several quarters, aided by localized strategies and insulation from U.S. tariffs. Earnings back this: Burberry's Greater China sales up 3%, Richemont near flat (vs. prior double-digit drops), LVMH saw Q3 mainland positivity.
JPMorgan's Chiara Battistini cautions it's no full turnaround—improvements partly from easy comparables and repatriated spending. Brands accelerate localization against rising Chinese labels, boosting marketing and tailoring via platforms like Xiaohongshu.
Value Retail and EssilorLuxottica also see traction, with double-digit Asia growth and no consumer trade-down. Recovery is gradual, but long-term drivers remain.
Exciting: Google and Disney reach deal to restore ESPN, ABC to YouTube TV. Also, a $900 space heater that also doubles as a bitcoin mining rig is now being used to heat homes.
Berkshire Hathaway Q3 2025 Equity Portfolio Update
Addition:
Berkshire initiated a new position by purchasing 17.8 million Class A shares of Alphabet.
Valued at $4.3 billion (at Sep 30 prices); currently $4.9 billion.
Largest Q3 addition by dollar value.
Key Reductions
Apple (AAPL): Cut by ~15% (~$10.6 billion reduction); now ~238 million shares worth $64.9 billion (21% of portfolio; still #1 holding). Down 74% from peak two years ago.
Bank of America (BAC): Cut by 6.1% (~$1.9 billion); now ~568 million shares worth $29.9 billion (10% of portfolio; #3 holding). Down 43% since early 2024.
Chubb: Increased by $1.2 billion (second-largest addition).
Verisign: Reduction disclosed earlier in August.
This shows that investors still have faith in AI and don’t consider it a bubble.
Is AI a bubble?
💵 Personal Finance
3 Key Investment Accounts to Beat Inflation and Build Flexibility
After covering daily expenses in checking and 3-12 months in savings, invest extra cash in three "buckets" to grow wealth and avoid inflation losses, says CFP Jaime Bosse of CGN Advisors.
Tax-Deferred (e.g., Traditional IRA, 401(k), 403(b)): Contribute pre-tax dollars; lowers current taxes, grows tax-deferred. Taxed on withdrawals after 59½; early pulls face penalties.
Tax-Free (e.g., Roth IRA, Roth 401(k)): Use after-tax money; grows tax-free, qualified withdrawals penalty-free after 59½. Roth IRAs allow contribution withdrawals anytime. Ideal if expecting higher future taxes.
Taxable (e.g., Brokerage Accounts): Invest after-tax funds; withdraw anytime without penalty. Pay taxes on gains, but offers flexibility for non-retirement goals like home down payments.
Start with employer matches—it's free money. Early-career? Favor Roth for lower current taxes. Aim for 15% of pre-tax income in retirement savings. These buckets provide options for taxes, access, and future freedom.
💰 Be a Better Investor
“The goal isn’t more money. The goal is living life on your terms.”
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