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Inflation finally took a day off | One EV maker posted electric results |

Hi Reader, here's what you need to know for November 11th in 3:10 minutes.

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Today's big stories

  1. Get the balloons ready: inflation cooled by more than expected in October
  2. Here's why we could be headed for a new housing market crisis – Read Now
  3. EV maker Rivian hit the gas, and gave a better-than-expected results update

Surprise Party

Surprise Party

What’s Going On Here?

Data out on Thursday showed that US consumer prices rose by less than expected last month, so it might be time to carefully dig out the balloon arch.

What Does This Mean?

The Federal Reserve (the Fed) has hiked interest rates by a strapping 0.75 percentage points four times in a row now, in an increasingly desperate bid to bring runaway price rises down to a gentle stroll. Definitely monotonous, but maybe effective: used car prices were 2% lower last month than the one before, and a record drop in headache-inducing health insurance costs led to the steepest slide in the price of medical care services in over fifty years. And even the uptick in stomach-turning food prices finally took a breather. So sure, there was the biggest monthly jump in accommodation costs for three decades, but that wasn’t enough to kill the vibe: overall US consumer prices rose a lower-than-expected 0.4% in October from the month before, and just 7.7% compared to the year before – the lowest year-on-year increase since January.

Why Should I Care?

For markets: Pause the tunes.
Best wait a while until you post your party invites: the Fed said earlier this month that it’s hoping to see a pattern of weakening monthly inflation, and warned that peak rates will probably float even higher than they were initially expecting. But investors must be covering their ears: markets are already anticipating a smaller stock-friendly hike in December, which might be why the S&P 500 ticked up 4% after the news.

Zooming out: Hope for the best, expect the… best.
Looks like that optimism’s jumped across the pond: the eurozone’s inflation hit a historic high of nearly 11% last month, but one member of the European Central Bank – presumably donning intensely rose-tinted glasses – believes the region’s price rises could start slimming down. Still, the situation they’re hanging their hat on to make that happen – a peaceful resolution to the war in Ukraine – is far from guaranteed.

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Analyst Take

Goldman Sees Global Home Prices Swaying

Goldman Sees Global Home Prices Swaying

By Luke Suddards, Analyst

With interest rates rising from the hardwood floors to the vaulted ceilings, global housing markets have been feeling the pressure.

And that’s prompting worries that a wave of defaults might collapse this important economic sector and create a crisis.

Well, Goldman Sachs has just published an in-depth report on housing sectors around the world, with a country-by-country look at the risks.

So that’s today’s Insight: the key takeaways from Goldman’s global housing report.

Read or listen to the Insight here

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Tickets to our in-person London Summit session have almost sold out.

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Thousands of Finimizers have already grabbed their tickets, so they’ll soon find out how to build a resilient portfolio that could set them up for a lifetime of financial freedom.

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Young, Hot, Fast, And Electric

Young, Hot, Fast, And Electric

What’s Going On Here?

EV maker Rivian gave it some gas this week, announcing a quarterly results update that made investors take notice.

What Does This Mean?

Supply snags have been a pretty unshakeable thorn in the EV industry’s side this year, so investors were probably worried that Rivian’s wound would still be sore to touch. But there was no need to be squeamish: the EV maker made 67% more cars this quarter than the last, with over 7,000 of them passing through the production line this time round. And that wasn’t the only promising number: demand’s fit as a fiddle too, with pre-orders of the firm’s R1 cars climbing a tidy 16%. All in all, then, Rivian posted a smaller-than-expected loss, and doubled down on its full-year production target of 25,000 cars. That optimism was infectious: investors sent the firm’s shares up 7% when the news broke.

Why Should I Care?

For markets: No one’s taking risks.
Despite that vote of confidence, Rivian’s shares are still down 70% over the last year. Mind you, that makes sense: with interest rates on the up and a recession nearing, investors are seeking safer harbors – you know, like businesses that are actually making money. Rivian’s just not there yet: it has a comfy cash cushion, sure, but it really needs to scale up if it wants to shrink its costs and inch toward making profit. After all, analysts estimate each $81,000 vehicle cost a staggering average of $220,000 to make last quarter.

The bigger picture: Mining drags its heels.
Good news: the International Energy Agency believes that investment in oil extraction is low enough to bring us close to the net-zero pathway. Bad news: the mining sector could slow us down. See, some of the crucial materials needed to make batteries for eco-friendly EVs are in short supply – and the industry’s spending less than half what it did a decade ago on discovering those all-important deposits.

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🌍 Finimize Live

🥳 Coming Up In The Next Week…

All events in UK time.

🔥 How To Build Better Financial Habits In Your 20s And 30s: 3pm, November 11th
♻️ How To Build An Eco-Friendly Crypto Portfolio: 1pm, November 14th
💥 How To Diversify During High Inflation: 6pm, November 14th
🐻 How To Survive A Crypto Bear Market: 7pm, November 15th

👀 And After That…

How To Successfully Invest In Dividend Stocks: 6pm, November 22nd
🚀 2023 Outlook: What’s Next For Crypto?: 6.30pm, November 23rd (in person, London)
🌍 Finding Opportunities In A Challenging Market With BlackRock: 1pm, December 2nd
🇦🇪 The Modern Investor Opening Party In Dubai: 6pm, December 6th
🎉 Modern Investor Summit: 12pm, December 6th – 7th

🎯 On Our Radar

  1. The name’s Deddy Corbuzier. Meet Indonesia’s answer to Joe Rogan.
  2. Turns out crypto’s incredibly risky. Just ask one of the most powerful finance firms in Silicon Valley.
  3. No stone unturned. Take a look at the coolest mansion in Melbourne.
  4. Maybe there is something in a name, after all. These folk are making friends in massive same-name group chats.
  5. International relations. A former Miss Puerto Rico and Miss Argentina secretly tied the knot.
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