Finimize - 🇺🇸 The US job market needs some work

The Fed wants fewer jobs | Chipmaking's big dog overshadowed the little guys |

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Today's big stories

  1. The US jobs market continued to show strength in September
  2. Here's how you can make money from ETFs in your sleep – Read Now
  3. Chipmaker TSMC defied the industry slump to post bumper quarterly sales

US Employment’s Still Riding Too High

US Employment’s Still Riding Too High

What’s Going On Here?

Data out on Friday showed that the US economy added more jobs than expected last month.

What Does This Mean?

There had been a couple small signs that the Federal Reserve’s (the Fed) aggressive interest rate hikes might've started chilling the hot-to-touch jobs market down. For one, data out earlier in the week showed that cautious employers slashed more than a million job openings in August – one of the biggest drops in two decades. And for another, Friday’s report showed the US added only 263,000 jobs in September, the lowest monthly figure since April 2021. But that’s still not enough: demand for workers has calmed down a bit, but many businesses are still under-staffed, and forced to compete for workers in what’s still a shrinking labor force. That might be why the handy litmus test of wage growth – something the Fed’s trying to tame to help rein in inflation – still came in at a strong 5% versus the same time the year before.

Why Should I Care?

The bigger picture: The Fed wants to fire you.
The unemployment rate unexpectedly fell to a new 50-year low of 3.5% last month. But with the Fed's prediction for that figure to hit 4.4% next year, there's a good chance the central bank will take action to make that reality. After all, it’s said that taming inflation won’t just require “below-trend” growth, but straight-up job losses. That’s why most traders are now pricing in a fourth-straight 0.75 percentage point hike next month.

For markets: Investors say yikes.
The S&P 500 fell when the news broke, as investors anticipated even more pain for US companies and the wider economy. And that might not be the end of the turmoil for a market that's just seen its worst September in 20 years: a slew of banks from Goldman Sachs to HSBC reckon the index will be lower at the end of the year than it is now.

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Analyst Take

Early Birds Are Great, Sure, But Stocks Love A Night Owl

Early Birds Are Great, Sure, But Stocks Love A Night Owl

By Luke Suddards, Analyst

The early bird is known to get the worm, but it often pays to be an investing night owl.

See, something happens between the time the New York Stock Exchange closes for the night and opens the next morning – and whatever it is, it tends to nudge stocks higher. 

In the market, it’s often referred to as the “night effect”

And now a new exchange-traded fund is seeking to capitalize on those after-hour gains.

That’s today’s Insight: how a new ETF could make you money while you sleep.

Read or listen to the Insight here

Represent the new era of investing

The second annual Finimize Modern Investor Summit will celebrate the new era of investing.

So if your brand or product is helping to create the next generation of investing opportunities, our summit is the ideal place to showcase your potential.

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TSMC Wins When The Chips Are Down

TSMC Wins When The Chips Are Down

What’s Going On Here?

TSMC – the world’s biggest contract chipmaker – bucked a wider chip industry slump to report bumper quarterly revenue growth on Friday.

What Does This Mean?

The $550 billion chip industry has seen better days, with chipmakers across the board warning of stock buildups and customers cutting back on orders. That’s prompted Micron Technology and Kioxia Holdings to cut output, in the hopes of fending off a price crash. Add in AMD’s third quarter sales missing estimates by over $1 billion, and Samsung Electronics reporting its first drop in profit since 2019, and the overall picture looks pretty grim. But while rivals are floundering, TSMC – the world’s most advanced maker of silicon chips – has smugly expanded its already impressive market share. The company declared a better-than-expected 48% uptick in revenue versus the same quarter last year – notching up $19.4 billion over the three months in question.

Why Should I Care?

Zooming in: How do you like them Apples?
As Apple’s chipmaker-in-chief, TSMC has bagged tons of big contracts providing chips for the world-famous firm's cutting-edge devices. But now that disappointing demand is reportedly prompting Apple to nix plans for increased iPhone production, revenue streams from electronics no longer look as promising. TSMC isn’t waiting for them to dry up though: the Taiwanese firm has been looking for growth in other areas like chips for cars, betting on booming demand as more and more vehicles become reliant on digital technology.

The bigger picture: Lucky for some.
It’s likely that the industry-wide slowdown will eventually come knocking on TSMC’s door too. But when it does, these promising results – and TSMC’s huge industry clout – mean it’ll probably receive a feeble tap rather than the outright thumping some competitors have taken. What’s more, any trouble could be brief: analysts at Morgan Stanley projected last week that the semiconductor industry would return to growth as early as the second half of 2023.

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💬 Quote of the day

“First love is a kind of vaccination which saves a man from catching the complaint a second time.”

– Honoré de Balzac (a French writer)
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CHART OF THE WEEK

Renewable energy might make headlines, but it doesn’t have quite as high a profile when you look at overall energy consumption. After all, we’re still mostly living off dirtier gas, oil, and coal. And while there is a lot of opportunity for new tech to lead the way, those stats make sense when you consider how far behind the world is when it comes to green energy investments. In fact, experts say the world needs to be spending $4 on renewables for every $1 we spend on high-polluting energy by 2030 to even have a chance of reaching net-zero by 2050. But given that we haven’t even reached a spending ratio of 1:1 yet, there’s a long way to go.

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🥳 Coming Up This Week

All events in UK time.

🏡 The Pathway To Property Investing In 2022: 12pm, October 11th
📈 How To Invest Like Warren Buffett: 6pm, October 12th
🧑‍💻 Why A Digital Asset Should Be Your Next Investment: 1pm, October 14th
💸 How To Understand The True Value Of Crypto: 6pm, October 17th

👀 And After That…

💻 How To Invest In Tech Stocks During A Recession: 5pm, October 18th
💪 Three Metrics You Should Know Before Investing: 1pm, October 19th
🎧 How To Invest In Music NFTs: 6pm, October 24th
🔥 How To Secure Your Financial Future Before 40: 5pm, October 26th
🏆 How To Spot Investment Opportunities In Gold: 12pm, October 27th
🤑 Asset Allocation For Young Investors: 5pm, November 2nd
🙋‍♀️ Ladies Investing Club Meetup: 6.30pm, November 2nd (in-person)
🚀 Modern Investor Summit: 12pm, December 6th-7th

🎯 On Our Radar

  1. Let’s get lost. Check out the latest work from this year’s Nobel Prize in Literature winner.
  2. Bedsheet bull. Thread counts mean nothing.
  3. Nice to re-meet you. Medieval Scots are being brought back to life.
  4. From Batman to Bateman. Getting to know the man behind the roles.
  5. Time to reflect. The changing face of this London landmark will make you think about city life.
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