😎 Crypto pays a salary

Didi says hello | 'Tis the earnings season |

Hi Reader, here's what you need to know for July 1st in 2:54 minutes.

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Today's big stories

  1. Chinese ride hailing giant Didi joined the US stock market
  2. Coinbase’s Sid Shekhar has a few ideas about how you can start earning a real income from your crypto portfolio – Read Now
  3. US companies are all set to announce their quarterly earnings, and things are looking promising

Hello, America

Hello, America

What’s Going On Here?

Chinese ride hailing giant Didi made quite the entrance onto the US stock market on Wednesday, and investors initially sent its shares up 19%.

What Does This Mean?

Didi’s stock market debut raised around $4.4 billion, making it the second-biggest US listing by a Chinese company after Alibaba’s back in 2014 (tweet this). Its stock bump puts the company’s valuation at $80 billion – up $18 billion from its last private funding round. And while that’s some way off the $100 billion some analysts had been anticipating, it bodes well for another East Asian firm with Stateside aspirations: Singapore’s Grab Holdings will be hoping it can follow in Didi’s footsteps when – if all goes to plan – it lists later in the year by merging with a special-purpose acquisition company.

Why Should I Care?

The bigger picture: SoftBank cashes in.
This listing is a big deal for venture capital giant SoftBank, which counts Didi among its biggest investments. The Japanese firm has paid huge sums for stakes in promising companies over the last few years, but it’s always crossing its fingers that stock market investors will pay even higher valuations so it can turn a profit. But as far as this deal goes, SoftBank will have pocketed a few billion dollars – going some way to validate its high-risk strategy.

For markets: Underestimate retail investors at your peril.
Didi wasn’t the only company to list on Wednesday: Hertz returned to the stock market a little more than a year after the pandemic drove the car rental company to bankruptcy. Hertz became the poster child for supposedly irresponsible behavior back in June 2020, after retail investors started buying shares of the theoretically worthless company for $5 apiece. But they’ve had the last laugh: Hertz’s shares hit nearly $10 on Wednesday.

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🙋 Ask a question

2. Analyst Take

How To Put Your Crypto To Work

What’s Going On Here?

Investors approach crypto differently in different cycles, just like any other market.

And in the last market cycle, they essentially had two choices: HODL and potentially be left with a depreciating asset, or sell up.

But there’s another choice these days: earning income on the crypto holdings that you have – otherwise known as yield farming.

As for how best to do that, there’s no one better to ask than Coinbase’s Sid Shekhar. So that’s exactly what we did.

Sid told us how yield farming works, how it’ll support crypto prices over the long term, and how you can make an income from your own crypto portfolio.

Read or listen to the Insight here

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The folks over there know that every investing decision needs to balance three key stakeholders in order to stand the test of time: planet, people, and profit.

And now Jupiter’s written a report looking at how companies are adapting to everything from gender equality to climate change response – and which of them are the stand-outs.

It’s forward-thinking companies like Jupiter that’ll be leading the sustainable transition.

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The Old Normal

The Old Normal

What’s Going On Here?

US companies are preparing to deliver updates on their second-quarter earnings, and investors might be pleased to see companies’ lives going back to the way they were.

What Does This Mean?

Earnings season doesn’t start in earnest till the big US banks begin reporting on July 13th. But pulses are already racing: according to data provider FactSet, analysts are currently predicting that average profits at companies in the S&P 500 index will come in 63% higher than this time last year. That’d make for the biggest annual increase since 2009, and well up on just three months ago when investors were predicting a second-quarter earnings increase of 52%. As for why analysts have lifted those forecasts, it’s all down to the US economy’s faster-than-expected recovery from the effects of coronavirus – and they’re not the only ones feeling more optimistic…

Why Should I Care?

The bigger picture: No more excuses.
The pandemic provided the ultimate cop-out for company CEOs reluctant to give guidance on future profitability. But now that the worst of the pandemic looks like it’s behind us, the number of US firms issuing forecasts for the upcoming quarter – which halved this time last year – has returned to normal. And perhaps significantly, a bigger proportion of those companies have a positive outlook than at any time in at least the last five years.

Zooming out: The music’s still playing – for now.
Enthusiastic analysts are probably being won over by the rip-roaring stock markets too: average year-end targets for the S&P 500 have risen to 4,300 from 4,000 at the start of 2021. That rally can’t last forever, mind you: the pace of US economic expansion is expected to slow from 6.6% this year to just 2.3% in 2023, and that’ll eventually rein in company profit growth.

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💬 Quote of the day

“Style is knowing who you are, what you want to say, and not giving a damn.”

– Gore Vidal (an American writer and public intellectual)
Tweet this

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🎯 On Our Radar

  1. Cash savings are dead. Try ChipX instead: award-winning automatic saving and seamless access to multi-asset BlackRock funds. Capital at risk.*
  2. The Olympics are back, baby. And this time, sponsors can shine.
  3. Algorithm-shmalgorithm. TikTok’s just like high school.
  4. It’s about time. RIP, Internet Explorer.
  5. Two nudists, one helicopter, zero clue. The perils of sunbathing in the buff.

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🔥 How To Drive Change From Within: 6pm UK time, July 1st
🎙 Finimize Weekly: WISE IPO Breakdown: 6pm UK Time, July 1st
💡 Finding Wisdom In A Crowd: 2pm UK time, July 2nd
🤑 How To Bet On Bitcoin’s Next Run: 2pm UK time, July 6th
🌎 How To Profit From Diversity And Inclusion: 5pm UK time, July 7th
💉 Global Trends That Matter For Your Portfolio: 2pm UK time, July 8th
😎 How To Craft Your Own Trading Strategy: 6pm UK time, July 8th
💰 How To Make Crypto Work For You: 6pm UK time, July 14th
🤔 What Does Inflation Mean For Your Portfolio: 2pm UK time, July 15th
🍷 How To Invest In Wine: 6pm UK time, July 19th
🦄 How To Catch Your Own Unicorn: 5pm UK time, July 22nd
🌿 How To Invest In The Future Of Cannabis: 6pm UK time, July 23rd
📈 How To Protect Yourself From Rising Prices: 6pm UK time, July 26th
🤔 Are You An Investor Or A Trader?: 12pm UK time, August 25th

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