LK-99 explained

Market Overview
Read time 0.8 minutes

Year To Date Performances:

1. South Korean scientists caused a stir with their recent claim of uncovering a practical superconductor known as LK-99, which has the potential to operate at room temperature, a significant departure from traditional superconductors that require extremely low temperatures for functionality. If proven true, this discovery could be a game changer for various industries, including power transmission, electronics, electromagnets, and energy storage, leading to reduced energy consumption and improved efficiency. However, skepticism lingers, as some experts question the validity of the findings presented in the two papers, emphasizing the need for further evidence and rigorous verification before fully embracing the purported breakthrough.

2. In July, the US economy added 187,000 jobs, falling short of the expected 200,000. This marked the second consecutive month of softer-than-expected job growth, with the 3-month average dropping to 217,000, well below the 312,000 monthly gain seen in the past year. Despite the slowdown, the unemployment rate remained at a low 3.5%. Wages have been more resilient, with average hourly earnings increasing by 0.4% in July, exceeding market expectations. On an annual basis, earnings grew by 4.4%. While the strong labor market remains a concern for higher prices, recent inflation data and consumer resilience suggest a higher likelihood of a "soft landing" outcome.

3. Investors are Flocking to Bezos-Backed Real Estate Investing App: Arrived. Over 353,000 others have invested over $100M in properties on the platform. Arrived offers highly curated vacation and long-term rentals: <0.2% pass their diligence process. In a few clicks, browse properties, invest anywhere from $100 to $50,000+ in each, sit back, and collect dividends and appreciation - Arrived takes care of the management and operations.

4. Headlines

   1. Authentic Restaurant Brands has announced its acquisition of Pollo Tropical for $225 million.

   2. Approximately 13% of crypto hedge funds have closed down in 2023 due to weak performance despite Bitcoin being up 70%.

   _{* This is sponsored content.}

    

Newsletter Sponsored By