Hello Folks,

What’s stirring up the markets today?

👉 Exxon Mobil’s diversification plan

👉 Emirates expands airline fleet

👉 Ethereum Soars Past $2,000

Exxon Mobil Bets Big on Lithium

Exxon Mobil just purchased 120,000 acres of a geological site in Arkansas as it aims to become a leading producer of lithium for electric vehicle batteries.

Exxon is positioned to start producing lithium by 2027, supplying enough of the mineral to support manufacturing 1 million EVs by 2030.

Energy giants such as Shell and BP are also looking to diversify their revenue base and expand their clean energy portfolio as the world wrestles to address the impact of climate change.

Here are some key numbers for Exxon Mobil shareholders:

👉 Exxon will invest $17 billion through 2027 to reduce emissions

👉 Demand for lithium is forecast to increase by 6x by 2030 in the U.S.

👉 EV sales in the U.S. rose by 50% in Q3

👉 The U.S. imports a majority of lithium from Chile and Argentina

Emirates Widens its Boeing Fleet

Emirates just placed a $52 billion order for 95 Boeing aircraft. Dubai’s state-owned carrier already operates the largest number of Boeing 777 aircraft of any airline globally.

The Middle East is a major source of demand for wide-body aircraft, and the region currently accounts for the largest portion of the combined Airbus and Boeing wide-body passenger backlog at 30%.

Valued at $123 billion by market cap, Boeing is forecast to grow its revenue from $66.6 billion in 2022 to $90.84 billion in 2024.

Consumer Spending Slows Down

Consumers have pulled back their spending before the holiday season begins. According to retail sales data for October, consumer spending fell by 0.08% if we exclude autos and gas. Core retail sales (which also excludes restaurants) indicated a drop of 0.03%.

Consumers spent less on electronics, appliances, furniture, and other home products. This was offset by higher sales in sporting goods and hobby stores.

Ethereum Jumps 32% In the Past Month

Ethereum prices soared past $2,000 last week and are now up 71.5% year-to-date.

Investors are optimistic that a spot Ethereum ETF (exchange-traded fund) will be launched in the U.S. soon after Blackrock registered a corporate entity called iShares Ethereum Trust.

With over $9 trillion in assets under management, Blackrock is the world’s largest asset manager.

Basically, ETFs offer investors a way to invest in cryptocurrencies for those who aren’t comfortable buying tokens on an exchange.

Headlines You Can’t Miss!

Goldman Sachs expects the economy to perform better in 2024

Moody’s U.S. debt warning turns into a non-event

Stellantis offered buyouts to U.S. salaried workers

Amazon cuts 180 gaming jobs

Microstrategy holds Bitcoin worth $5.8 billion

Chart of the Day

We’re in the midst of the second-most aggressive cycle of interest rate hikes in the history of the Federal Reserve. But several central banks globally are now cutting interest rates at the fastest pace since August 2020.

Central banks raised bond rates in the last two years to offset inflation and tighten the money supply in the economy. But it has also resulted in a tepid lending environment and the rising cost of debt for individuals, households, and businesses.

Central banks want to avoid an economic recession, and this outlook drove equities higher in the past month.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.