Giarrusso Law Group LLC

Based in the NYC metro area, Giarrusso Law Group represents #investors and #advisors in securities law matters nationwide. Attorney advertising. [phone]

[Global Markets Investor @GlobalMktObserv]

THE GAP BETWEEN WALL STREET AND MAIN STREET HAS NEVER BEEN WIDER:

The S&P 500 total return index is up 276% since the 2020 Crisis, trading near its all-time high.

Over the same period, the University of Michigan Consumer Sentiment index has fallen over -50%, to 48 points, its 2nd-lowest level in history.

This comes as higher income households own a disproportionate share of equities, so rising markets benefit them far more.

At the same time, the cost of living for middle and lower income households continues to rise, with housing, food, insurance, and other essentials more expensive than ever.

Wall Street is getting richer, while Main Street is getting more pessimistic by the day.

This is not healthy.

[Barchart @Barchart]

BREAKING 🚨: Meta

$META posted negative free cash flow for the first time in history 👀

[unusual_whales @unusual_whales]

Germany, France and at least six other EU countries are pushing against “associate membership” as the name for closer EU ties with Canada, per POLITICO

[Prof. Frank McDonough @FXMC1957]

24 October 2008. “Bloody Friday” saw the world's stock exchanges suffer the worst declines in one day in history.

[The Washington Post @washingtonpost]

Elon Musk has cemented his record as the largest individual political donor in modern American history.

Musk poured $446 million of his own money into this year’s midterm elections, mostly aimed at preserving the Republican Party’s control of Congress. https://t.co/8vEBOJHTKR

[The New Republic @newrepublic]

Kushner also failed to disclose himself as an agent of a foreign government, having been paid nearly $2 billion in total by foreign leaders. https://t.co/fyqxxyuYyp

[Kalshi Finance @Kalshi_Finance]

JUST IN: Wall Street's new AI worry is the debt, and investors are asking if the spending will ever pay off

[Barefoot Student @BarefootStudent]

Entry-level openings have dropped 35% since 2023, per Politico.

[Megatron @Megatron_ron]

BREAKING: 🇩🇪🇮🇷 The German Foreign minister says a new round of war with Iran must not begin under any circumstances, warning that a conflict would severely damage the region, the global economy and European citizens.

Brent crude prices have reached their highest level in six months.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: The total value of the US stock market has surged to 350% of the US M2 money supply, the highest level since the 2000 Dot-Com Bubble.

Since the 2022 bear market, this ratio has surged +170 percentage points.

Over this period, the S&P 500 has rallied +118%, while M2 has risen +9%.

In other words, the stock market's gain has outpaced the money supply growth by 13x.

The last time equity market growth exceeded M2 growth by a larger amount was from 1995 to 1999.

Asset owners are winning.

[zerohedge @zerohedge]

Data Center Alley Goes Dark: Amazon Abandons Data Centers In Loudoun County https://t.co/aUlLs4kBkV

[unusual_whales @unusual_whales]

Citadel's Ken Griffin says we're in an AI bubble

[Barchart @Barchart]

S&P 500 could plunge 30% if AI stocks go bust, warns TS Lombard 🚨

[zerohedge @zerohedge]

The AI layoffs are here:

*AMERICAN EXPRESS TO CUT 5% OF JOBS, ABOUT 3,500 EMPLOYEES

*BARCLAYS TO CUT 5,000 JOBS AS AI STARTS CREATING EFFICIENCY

*EBAY CONFIRMS JOB CUTS OF ABOUT 9%

*NETFLIX TO LAY OFF 6% OF GLOBAL STAFF, OR ABOUT 1,000 JOBS: WSJ

[Barchart @Barchart]

Citadel's Ken Griffin says we're "almost certainly" in an AI Bubble and compares it to the telecom fiber-optic overbuild during the Dot-Com bubble 🚨🚨

https://t.co/6fQQOyOW81

[Megatron @Megatron_ron]

BREAKING: Brent Crude Oil has reached $117 per barrel

HERE WE GO…

[The Hormuz Letter @HormuzLetter]

BREAKING: Russia has now finished evacuating a number of Russian nuclear scientists and personnel from the Bushehr Nuclear Power Plant in southern Iran, following multiple evacuation flights, per initial reports and local sources.

The last time Rosatom evacuated personnel from the plant was February 28, the day the war started, removing 94 people in a single day.

[The Kobeissi Letter @KobeissiLetter]

BREAKING: American Express, $AXP, is laying off 5% of its employees, or 3,500 people, in an effort to contain rising costs.

The company's CEO says the cuts are part of an effort to make the company "more agile and efficient."

[unusual_whales @unusual_whales]

BREAKING: Amazon has scrapped a plan to build data centers in Northern Virginia after widespread opposition to the project from residents, per WaPo

[The Hormuz Letter @HormuzLetter]

BREAKING: Iran declares it will attack Israel's Dimona nuclear facility if the US or Israel restart the war and attack the Pickaxe Mountain nuclear site, per Iranian MP Bakhshayesh Ardestani.

"If Pickaxe Mountain is attacked, Iran will also attack Dimona," he says.

The Supreme Leader's office also published a dossier titled "New Fronts Will Be Opened" with an image of the Dimona reactor stamped "SOON."