1. Harris's election spending exceeds Trump's. Her campaign has reserved more than $330 million for advertising before Election Day, but Harris is ahead in opinion polls and betting markets, while Trump has only reserved nearly $200 million. Trump's campaign strategy and voter support keep him ahead of the competition.
2. South Korea summoned the Russian ambassador to protest against#NorthKorea sending thousands of special forces to support Russia in the war in Ukraine, a move that was part of a secret agreement between Putin and Kim Jong-un but violated UN resolutions and sparked international outrage
3. Putin will meet with representatives of the BRICS leaders at the summit. Discussions will focus on the potential for expansion and pressing international issues, especially the situation in the Middle East. The summit will also focus on cooperation between the BRICS and the countries of the Southern Hemisphere in promoting sustainable development.
4. Iran formally complained to the UN nuclear watchdog, condemning the threat of targeting its atomic power bases. The Iranian Foreign Ministry accused Israel of violating international law and said it would not accept provocations.
5. The S&P 500 index has been on a sharp upward trend, rising 40% since October 2023. The words "stock market circuit breaker" frequently appear in the news, which makes some people excited and others worried.
Today's valuations are much more expensive than they were before the crash in 1929. The last time such a valuation increase occurred was during the Internet bubble in 2000. However, although there are risks, the market is still on an upward trend.
6. Continuing from point 5, the concentration bubble of US stocks is very serious. The top 10 stocks in the #S&P500 index currently account for 36% of the index's market value, close to the highest level since data was recorded. At the same time, the largest stock Apple#APPLEis 750 times larger than the 125th stock in terms of market value, and Apple, Nvidia and Microsoft account for more than 20% of the market value (Figure 1)
7. Gold #Gold hit a new record of $18.4 trillion in market value (update: US stocks are $57 trillion, Bitcoin #BTC☀️ is about $1.4 trillion), and the price of gold also broke through $2,700 for the first time, up 32% so far
8. The world's major economies are in deep debt crisis. It is expected that the ratio of global economic debt to gross domestic product#GDPwill soar in the next few years, mainly driven by the United States, China and Japan, including government debt, and in the absence of an economic recession (Figure 2)
9. The Qing Dynasty further cut interest rates today, with the 10-year Treasury bond yield at 2.12%, 2 percentage points lower than the 10-year US Treasury bond yield. However, the 5% GDP growth target is actually in conflict with the rapidly aging population. In addition, the Qing Dynasty's debt accumulation is the fastest among all major economies (Figure 3)
10. Important events as of this Friday (October 25)
a. Thursday's S&P Global Manufacturing and Services Purchasing Managers Index
b. University of Michigan Consumer Sentiment Index on Friday
c. Speech by a Federal Reserve spokesman
d. Financial reports of some S&P 500 companies (third quarter earnings)
11. As of today, the#Bitcoin$BTC fear and greed index is 73, and the holding profit value of Bitcoin profit and loss is 95.44. Whenever this value approaches 100, there is a high probability of a callback (Figure 4)
12. Google#GoogleAI and Honeywell have teamed up to make AI more accessible, which usually marks the transition to an AI-driven world. The tech giant aims to make AI accessible. They provide 10 ready-to-use agents for daily business tasks to promote the development of industrial AI. Honeywell is reportedly using#GeminiAI to mine insights from large amounts of industrial data, aiming to improve productivity and reduce maintenance costs.
The collaboration will begin deploying AI agents in 2025 to provide real-time assistance to workers on factory floors and elsewhere, with mass adoption forecast by 2025-2026
13. Microsoft will launch the development of autonomous artificial intelligence#AIagents next month. Starting in November, Microsoft will allow customers to use Copilot Studio to create autonomous artificial intelligence agents that are designed to minimize human intervention, such as handling customer inquiries and sales leads and inventory management tasks
This usually marks a shift towards an AI-driven world. The tech giant aims to make AI accessible. They provide 10 ready-to-use agents for daily business tasks. The two giants have started to take action. So is Apple also ready to make a move in AI? Otherwise, it will be too late!
