💳 A Capital Idea

🃏 Plus, Russia's playing silly games

Wyatt from Alts
February 20, 2024

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*past 24-hour performance

U.S. Markets were closed yesterday for Presidents Day. Equity futures were stable as investors balanced strong economic data against inflation fears and the week ahead. All three major indices snapped five-week winning streaks last week.
The week is stacked with big earnings reports, spearheaded by Nvidia on Wednesday.
Capitol One acquired Discover for $35.3 billion. The merger is expected to close by 2025 with Discover remaining a distinct brand.
Oil prices held firm, near their three-week high buoyed by Middle East tensions and China's rebounding demand.
Putin critic Alexei Navalny died in an Arctic prison last Friday.
- His wife believes he was poisoned and has vowed to carry on his mission.
- Elon suspended her Twitter account.
- Emboldened, Russia has detained a dual Russian-American citizen for treason.
- What the future of the Russian opposition looks like.

One analyst at Citi thinks gold could hit $3k by 2025.

Our faith in GPU’s is strong, but so is Nvidia’s current valuation.

Search results are from our friends at Glimpse, my favorite way to spot trends.

The Nintendo Switch is dying a slow death, and it’s going to get worse (see below).

Want to invest like Buffet? With Public.com, you can emulate Berkshire Hathaway’s portfolio with just a few clicks.

Earnings, upgrades, and acquisitions

No significant earnings were announced last Friday, and yesterday was a market holiday, but this week is filled with important earnings.
Nvidia could bring significant volatility with its earnings report after the close on Wednesday.
Home Depot issued a double beat but lowered guidance. Shares down slightly.
Walmart also beat both top and bottom lines and announced its going to acquire Vizio. Shares up 3%.

Market movers

Microsoft poured $2.1 billion into AI infrastructure in Spain.
Nintendo is now unlikely to release a new version of its Switch console in 2024. Prediction market Kalshi hasn’t caught up to the news, though, if you want some free money. [DISCLOSURE: I’VE TAKEN A POSITION]
The EU opened a formal investigation into TikTok over child safety.
The U.S. boosted GlobalFoundries with $3.1 billion for domestic chip production.
The Biden Administration is in talks to award a $10 billion contract to chipmaker Intel.
American Airlines has implemented a number of cost-saving but customer-infuriating policies.
Google cut thousands of staff across its hardware divisions.
Nike slashed 1,500 jobs.

Crypto continues to rip
A record $2.4 billion flowed into Bitcoin ETFs last week.
Ether is well structured for stability and growth, especially if an ETF is approved.

Rust is ruining the vibe for Cybertruck owners.
A high school in Massachusetts is so unruly that officials are calling in the National Guard for backup.

That’s all for today. Did I miss anything? Smash the reply button to let me know.

Cheers,

Wyatt