🦢Black Swan Street Weekly Stock Market Summary (Jan. 8th - Jan. 12th 2023)

Welcome to Black Swan Street!

Welcome back!! It’s @JohnWetter here with another edition of Black Swan Street…

It was an action-packed week, so let’s get into it:

• Boeing’s Emergency Landing✈️

• The Swan’s Picks🦢

• In Other News🗞

• Next Week In The Stock Market🔮

Read time: 6 minutes

Boeing’s Emergency Landing✈️

Imagine this: You’re on a flight to your favorite vacation spot (Breckenridge for me), you download episodes of ‘Peaky Blinders’ to watch on the flight, you’re ready to have a nice, chill flight… Next thing you know… BOOM!

The panel on the side of the airplane blows out midair. Exposing you and 220 other passengers on the flight to a 30,000-foot descent to the ground.

Well this is exactly what happened in Boeing’s recent flight.

This week, the “door plug” on a Boeing 737 Max 9 fell away during a flight from Portland, Oregon. Leaving a door-sized hole in the side of the plane.

During inspections of the airplanes, ‘loose bolts’ were found on the plug doors. This led to Boeing’s CEO hitting the ultimate “my bad”.

Luckily, no one was injured, and the flight landed safely. As for Boeing, well, they’re in the hot seat.

Want to read the full story?

Our team at Black Swan Street goes in-depth on the long-lasting impact this incident will have on the future of Boeing.

You can read it here: “Beyond the Headlines: The Real Impact of Boeing’s Plane Incident”

Recommended Reading📚

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The Swan’s Picks🦢

❌Bill Ackman Plots Revenge Against Media: Neri Oxman, wife of billionaire hedge fund manager Bill Ackman, is in the hot seat as reports claim she improperly cited multiple authors and Wikipedia in her doctor thesis. Who cares? Because Ackman just led the charge against President Gay, who resigned amid plagiarism allegations - Ackman’s X account is a warzone.

🏛️Congress Sets 2024 Spending Level: Congressional leaders reached a bipartisan deal to set a $1.6 billion federal spending level for the fiscal year 2024. The breakdown includes $886 billion for the military and $704 billion for nondefense spending - read the breakdown here.

⛳️Tiger Woods & Nike Split Up After 27 Years: A partnership that began in 1996 when Tiger was just 20-years-old has officially came to an end. Nike commemorated the partnership with a post to social media with the caption “It was a hell of a round, Tiger.” 

💵United States First Quarter Deficit Tops Half a Trillion Dollars: For the period from October 2023 to December 2023, the budget deficit totaled ~$510 billion. This pushed the total government debt past $34 trillion for the first time ever.

🏈Michigan Defeats Washington To Win National Championship: The Michigan Wolverines beat the Washington Huskies 34-13 this week to win the College Football National Championship. My thoughts are with the Washington fraternity that stood to make $50,000 if the Huskies won - those frat guys must be devastated.

In Other News🗞

• Chinese city official spent $21 billion on ‘vanity projects’ - BBG

• Cloud services provider ‘Hewlett Packard Enterprise’ to buy ‘Juniper Networks’ for ~$13 billion - BBG

• Software company ‘Synopsys’ is in advanced talks to acquire engineering software provider ‘Ansys’ for $35 billion - BBG

• Microsoft’s $13 billion investment into OpenAI is facing a potential full-blown EU competition probe - BBG

• British drugmaker ‘GSK’ will acquire asthma drug maker ‘Aiolos Bio’ in $1.4 billion deal - RT

• Google cuts hundreds of jobs across engineering, hardware teams - CNBC

• Airbus shatters record for jet orders as demand soars - WSJ

• Washington State is expected to file a lawsuit seeking to block Kroger’s proposed $24.6 billion takeover of Albertsons - BBG

• U.S. Bitcoin ETFs see $4.6 billion in volume in first day of trading - RT

Next Week in the Stock Market🔮

Earnings to watch next week:

• Money: HDFC Bank

• Tuesday: Goldman Sachs, Morgan Stanley, PNC Bank, Interactive Brokers Group

• Wednesday: Charles Schwab, U.S. Bancorp, Citizens Financial Group, Prologis, Alcoa, Discover, Kinder Morgan

• Thursday: Taiwan Semiconductors, Fastenal, Truist, J.B. Hunt Transportation, PPG 

• Friday: Ally Financial, Travelers Companies, Comerica, State Street, SLB

Read the full calendar here

Economic Calendar Next Week:

The Wrap-Up🔄

🎊🎉 That’s it for this week 🎉🎊

Quick reminder: Follow my Twitter @theJohnWetter, if you want real-time market and economic analysis. I’ll be moving everything from the Black Swan Street Twitter to my personal account going forward.

As you probably realized, this week’s newsletter was in a different format. This will be the new format in the future. Our team feels like it allows us to go into more depth on various events without the quality of the newsletter suffering.

Very important: Let our team know how you like the new format ⬇