Newsletter Nov 8, 2023

Quick Six

One month into Israel-Hamas conflict, the worst still to come
Israel's deadliest ever war in Gaza, sparked by the Oct. 7 Hamas attacks, entered its second month Tuesday as Prime Minister Benjamin Netanyahu stressed there would be no ceasefire until the militant group releases its 240 hostages. Netanyahu also said Israel would assume "overall security" in Gaza after the war ends, while allowing for possible "tactical pauses" to free captives and deliver aid to the besieged territory of 2.4 million people.
GAZA DEATH TOLL REACHES 10,000 AND WILL KEEP RISING

Americans max out credit cards despite rising interest rates
American's debt with credit cards is growing at a faster pace than in other categories, and delinquencies are also accelerating, according to the Federal Reserve Bank of New York's report on household debt and credit. Housing debt, student loans and car loans also increased, but at a slower rate than credit cards. It was the eight straight quarter of the increase in credit card balances.
SEE WHICH AGE GROUP IS MOST RESPONSIBLE FOR DEBT

Largest homebuilder predicts growth despite mortgage rates
The largest homebuilder in the U.S. is predicting an increase in its sales despite mortgage rates at the highest level in more than two decades. D.R. Horton forecasts revenues in a range of $36 billion to $37 billion in the fiscal year that started in October, which would represent an increase of as much as 28% from $35.5 billion.
WHY HORTON EXPECTS AN INCREASE IN US HOME SALES

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Markets

DJIA	34,152.60	0.17%
S&P 500	4,378.38	0.28%
Nasdaq Composite	13,639.86	0.90%
Japan: Nikkei 225	32,271.82	-1.34%
UK: FTSE 100	7,410.04	-0.10%
Crude Oil Futures	77.13	-4.57%
Gold Futures	1,975.60	-0.65%
Yen	150.37	0.00%
Euro	1.07	-0.01%
* As of market close

Narrower field ready for third GOP debate

The third Republican debate for primary presidential candidates will feature five participants -- former New Jersey Gov. Chris Christie, Florida Gov. Ron DeSantis, former U.S. Ambassador to the UN Nikki Haley, entrepreneur Vivek Ramaswamy, and Sen. Tim Scott of South Carolina met the criteria set by the RNC. The debate, scheduled to take place in Miami at 8 p.m. ET tonight, will be broadcast live by NBC.

ARE ANY OF THE CANDIDATES GAINING GROUND ON TRUMP?

Lithium-ion battery fires present challenges

A JetBlue passenger's portable charger spontaneously combusted last week as his flight from New York to Fort Lauderdale waited at its gate. A viral video ensued, depicting frantic passengers dumping water bottles onto a smoking backpack. Though such incidents remain rare on a per-capita basis, they pose a long-term safety concern as lithium-ion batteries power nearly every critical piece of modern technology.

WHAT'S BEING DONE TO SOLVE LITHIUM-ION SAFETY ISSUES?

Bleu Royal diamond fetches $40M at auction

An exceptionally rare blue diamond went under the hammer in Geneva on Tuesday, selling for more than $40 million. As one of the most expensive diamonds ever sold at auction, the Bleu Royal is the largest internally flawless fancy vivid blue gem ever to appear for sale in auction history. It is the star lot in a series of luxury sales this month.

RARE ITEMS FROM BIG-NAME STARS ON THE GENEVA BLOCK

Extra point

What is the most expensive jewel ever sold at auction? How much?

Tuesday's answer: Minecraft is the top-selling video game to date with more than 300 million units sold. Hogwarts Legacy leads so far in 2023.

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