Newsletter Oct 20, 2021

Cryptocurrency took a giant step toward acceptability Tuesday with the launch of Bitcoin Strategy ETF, and investors did not hesitate to follow.
3 things you must know

  • Bitcoin Strategy ETF increases nearly 5% in NYSE debut

    Bitcoin went mainstream Tuesday, and early indications are that the mainstream loves it. Although not directly linked to the price of the popular cryptocurrency, Bitcoin Strategy ETF made its debut on the New York Stock Exchange as a futures fund and rose 5% by the bell.

    Bitcoin Strategy ETF is viewed as a more accessible vehicle for traditional investors to get involved with the emerging crypto market, but some analysts wonder if it's just another flash-in-the-pan upstart that makes a big splash before settling in at a reasonable price point.

    "The question now is whether the event will be the catalyst for the next surge in prices or a profit-taking opportunity; a classic buy the rumor, sell the fact situation," said Oanda analyst Craig Erlam.

    SEE THE IMPACT THE NEW STOCK HAD ON BITCOIN'S PRICE

  • Homebuilding takes a big hit in September due to shortages

    The U.S. housing market is suffering from a different kind of homelessness issue. The lack of available inventory combined with record high prices and shortages of labor and building materials have painted new construction projects and permits into a corner.

    New housing starts saw a 1.6% setback in September and the number of new building permits issued dropped 7.7%, signaling a slowing of new single-family and multi-family housing projects at a time that the industry is already running critically low on inventory. 

    FIND OUT WHY ANALYSTS FEAR A LOOMING HOUSING CRISIS

  • Netflix rides "Squid Game" success to strong Q3 profits

    If you haven't watched "Squid Game" yet (and based on the show's early success, you might be the only one), it features desperate contestants risking their lives to compete for large sums of money. Netflix seems to have hit the lottery in streaming the hit series.

    The streaming entertainment giant reported a profit of $1.45 billion (16%) on third-quarter revenue. That translates to $7.5 billion in gains during the period, fueled by 4.4 million new subscribers. More than half of Netflix's 214 million subscribers saw "Squid Game."

    HOW IS NETFLIX STAYING HOT DESPITE COOLING PANDEMIC?
Markets
DJIA 35,457.31 0.56%
S&P 500 4,519.63 0.74%
Nasdaq Composite 15,129.09 0.71%
Japan: Nikkei 225 29,388.62 0.59%
UK: FTSE 100 7,217.53 0.19%
Crude Oil Futures 83.14 0.22%
Gold Futures 1,768.70 -0.10%
Yen 114.65 0.26%
Euro 1.16 -0.03%
* As of market close
FDA weighing boosters, vaccines for teens

Both young and old got some good news on the vaccine front Tuesday as the FDA is poised to approve vaccines for teens and boosters for the old. 

More than 10 million seniors have already jumped at the chance to get the approved Pfizer booster. The Johnson & Johnson and Moderna boosters are in line for emergency use authorization, but the FDA is also on the verge of approving the mixing and matching of vaccines and boosters.

Meanwhile for the younger generation, the CDC released a study showing the Pfizer vaccine was effective in protecting 91% of teens at the ages of 12 to 15 and 94% for those 16 to 18. The FDA is set to review the data and issue a ruling on whether to start vaccinating the 12 to 18 age group. The news comes as 66 million eligible Americans are still unvaccinated.

SEE THE CDC'S RECOMMENDATIONS ON VAX 'MIX AND MATCH'

Redrawn districts could swing midterms

The midterm elections are fast approaching with a lot on the line in 2022. However, the outcomes of those races might be in the process of being determined now as lawmakers work to redraw districts before the races. 

The redrawing of districts occurs every 10 years after the completion of the latest census as several states gain and lose representation as a result of the headcount. The change also allows for the redrawing of district lines, where gerrymandering is often used to rig elections and skew true representation. Republicans hold the Sharpie in 18 states with histories of creative drawing in hopes of regaining control of the House.

FIND OUT HOW GERRYMANDERING MAY SWING THE 2022 RACES

Santa is back at Macy's ... if he can fit you in

Santa Claus is coming to town at select Macy's locations this holiday season, but he's got a busy schedule. In an effort to promote safety through social distancing and crowd control, Macy's will allow customers to have a meet-and-greet with ol' St. Nick, but by appointment only.

The holiday tradition of visiting Santa at Macy's came to a sad pause last year due to the COVID pandemic. A recent dip in case numbers and rise in vaccinations prompted Macy's to resume the tradition but with some restrictions. Hopefully, the jolly ol' elf will bring a safer, merrier Christmas.

FIND OUT WHAT LOCATIONS ARE BOOKING VISITS WITH SANTA

Christmas classic

Santa's much-anticipated return to Macy's this year conjures up images of what classic movie involving ol' Saint Nick and the department store?

Tuesday's answer: Oct. 19, 1987 was known as Black Monday after the Dow Jones suffered its biggest single-day drop of 508 points, or 22.6%.
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