- Polls show Trump won the presidential debate versus President Biden. Odds have increased that President Biden might drop out from the presidential election.
- Some rotation and broadening out of rally happened this week with small caps outperforming ($IWM up 1.27% on the week).
- Apple ($AAPL) and Meta ($META) are in talks to partner in the artificial-intelligence space, with Apple potentially integrating Meta Platforms’ generative AI model.?
- Apple ($APPL) has been hit by first charges under new European Tech Law, with failure to comply with a new digital-competition law. Under this new law, Apple could be fined for as much as 10% of its worldwide revenue.
- Rivian’s ($RIVN) share price surged 30% after Volkswagen announced that it planned to invest up to $5 billion into the EV maker, significantly extending the automaker's runway.
- FedEx share price up 18.2% after the company posted stronger than expected revenue, with revenue rising to $22.1 billion last quarter. The company also outlined cost cutting plans.
- The Japanese Yen ($FXY) continues its decline, with the Yen weakening to new multi-decade lows, and approaching its weakest level since 1986. Japan’s Ministry of Finance has intervened by injecting over $60 billion in its effort to support its currency in recent months.
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Nothing herein constitutes investment advice - suitability of any investment or product will vary from person to person. Tembusu Wealth Management is a division of Tembusu Partners which is regulated by the Monetary Authority of Singapore.
