Live Nation announced mic-drop-worthy results | The Federal Reserve's wish came true |
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Today's big stories

  1. The US added fewer jobs than expected in October, a sign that the economy might finally be moving in the right direction
  2. Here’s how not to overcomplicate everything when you’re investing – Read Now
  3. Ticketmaster-parent Live Nation’s dazzling results landed like a mic drop

Lucky Stars

Lucky Stars

What’s going on here?

The US added a lower-than-expected number of jobs in October, a sign that the Federal Reserve’s (the Fed) biggest wish might finally be coming true.

What does this mean?

US companies filled a fewer-than-expected 150,000 jobs in October, while the unemployment rate crept up to just shy of 4%. That’s not a drastic level by any means, but it is the highest number of jobseekers the US has seen this year. But that’s for the greater good: the job market’s clearly weakening without completely collapsing, and that’s the exact outcome the Fed has been praying for.

Why should I care?

The bigger picture: Say “ommm”.

The Fed’s been desperately manifesting a calmer economy, but instead of crystals and sound baths, the central bank’s leant on interest rate hikes to make inflation more peaceful. The latest data could well turn some skeptics into believers, especially since pay in the US ticked up by just over 4% between this October and last, the smallest rise in a while. And because wage increases fire up inflation, that news could be the deep breath the economy needed.

For markets: Alexa, play “Hot And Cold” by Katy Perry.

Thing is, for every moment of tranquility, there’s a day of madness. Markets have been especially moody this year, and folk are quick to call a Goldilocks scenario – the perfect blend of low inflation and a healthy economy – at the faintest scent of well-cooked oatmeal. But be wary of getting swept up in fairy tales because in this economy, an evil villain can be lurking around any corner. Keep a foot rooted in reality, instead: watch out for reasons why stocks might pick up when they’re down in the dumps, and consider cashing out when everyone’s celebrating.

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Analyst Take

Three Investing Pearls From One Of Wall Street’s Top Strategists

Three Investing Pearls From One Of Wall Street’s Top Strategists
Photo of Stéphane Renevier

Stéphane Renevier, Analyst

When it seems like everyone and their beagle are sharing investment tips on social media, there’s something reassuringly authentic about the wisdom that comes from Wall Street’s old guard.

I’ve been reading insights from Jan Loeys lately. He’s a veteran strategist at JPMorgan with over three decades of market experience under his belt.

Here are three pearls I’ve taken from him.

That’s today’s Insight: how not to overcomplicate everything when you’re investing.

Read or listen to the Insight here

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Not-So-Cruel Summer

Not-So-Cruel Summer

What’s going on here?

Ticketmaster-parent Live Nation's results proved, once and for all, that touring superstars Taylor Swift and Beyoncé truly do run the world.

What does this mean?

Worries about savings-draining mortgage payments and the existential threat of artificial intelligence are clearly no match for Taylor Swift and Beyoncé. After all, if belting out Tay-Tay’s back catalog can get you through the heartbreak of all heartbreaks, a live singalong can surely wipe away any financial woes. No wonder, then, that Live Nation raked in a record-breaking $8.2 billion in revenue last quarter, more than double the ticket-selling platform’s usual takings from before the pandemic. And while no one has any idea what to expect next week, month, or year anymore, music lovers are making sure their future at least has a boogie in it: half of Live Nation’s big-ticket venues are already sold out for next year. “Sh-sh-shake It Off”, indeed.

Why should I care?

For markets: Irreplaceable.

It's well known that artists can’t rely on percentages of streaming bucks to make them their millions in this digital age. The fastest track to mansions and champagne is by taking to the stage, and because Live Nation keeps some 50 million fans on constant tenterhooks, artists trust the brand to market their tours. That’s a sweet gig: more fans attract top artists, top artists attract even more fans, and repeat. Throw in some merch and marketing deals, and you can see why Live Nation’s stock has pitched up 20% higher this year.

The bigger picture: You Need To Calm Down.

Mind you, a sprinkling of superstars reckon Live Nation holds too much power, even organizing their own tours to keep more control and dollar bills. Fans have had their fair share of gripes, too, frustrated that the platform hasn’t done away with bots and rip-off resales. Even the Department of Justice has cast a suspicious eye, assessing whether Live Nation’s dominance counts as anti-competitive behavior.

You might also like: The US consumer isn’t flinching.

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Despite this economic downturn, retail investors are optimistic.

Yup, 84% of the hardy bunch we surveyed are planning to invest more or the same as last quarter, with 67% predicting that global stock markets will be higher a year.

And women are bringing out the big guns: 42% of female investors have between $5,000 and 100,000 to invest in the next year, and more than a third plan to invest over 11% of their monthly income.

See, despite being painted as less confident than male investors, the women we surveyed said that wasn't the case. In fact, more than three-quarters are fully confident in managing their investments themselves.

If you want the rest of the scoop on how retail investors are trading, you can grab the full report here.

Read The Report
💬 Quote of the day

"Silent gratitude isn't much use to anyone."

– Gertrude Stein (an American novelist, poet, and playwright)
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