and Tom Forte Maxim Group senior consumer internet analyst has a hold rating $21 price target on Apple. What are your expectations here Tom. Yeah so when you think about Apple's guidance for the September quarter they guided to mid-s singledigit to high singledigit revenue growth so clearly even before they announced the new iPhone 17 lineup they expected a strong performance.I think what's interesting from a tariff standpoint is they did take $100 of price on the Pro model, introduced a new product, the Ai ...

Group 1: Oil Market - International oil prices experienced a slight increase due to concerns over geopolitical risks potentially disrupting global oil supply, with light crude oil futures for October closing at $63.30 per barrel, up 0.97%, and Brent crude for November at $67.44 per barrel, up 0.67% [3] Group 2: Gold Market - International gold prices surpassed the $3700 per ounce mark, reaching a historic high, driven by favorable economic and geopolitical conditions that support expectations for Federal Reserve rate cuts, with COMEX gold rising nearly 1% to $3720 per ounce [5] - Domestic gold jewelry prices also increased, with brands like Chow Tai Fook and Lao Feng Xiang reaching their highest prices of the year, with prices for gold jewelry at 1091 RMB per gram for Chow Tai Fook, 1087 RMB for Lao Miao, and 1086 RMB for Lao Feng Xiang, reflecting daily increases of 17 RMB, 13 RMB, and 12 RMB respectively [7]

Group 1 - The Federal Reserve's latest decision maintains interest rates but signals a clear dovish stance, with expectations for one rate cut in 2024 and four in 2025 [1] - The acknowledgment of progress in inflation control is a significant development, with the statement indicating that "inflation has eased" [1] - The reduction in the pace of balance sheet reduction from $60 billion to $25 billion per month starting in June is a notable change [1] Group 2 - The immediate market reaction included a 0.8% drop in the dollar index, reaching a one-month low, and a rise in gold prices, stabilizing above $2340 per ounce [1] - The downward trend in real interest rates is established, enhancing the attractiveness of gold as rates decline [2] - The weakening dollar, due to the narrowing policy gap between the Federal Reserve and other major central banks, makes gold cheaper and stimulates global demand [2] Group 3 - The acknowledgment of inflation resilience by the Federal Reserve may lead to increased focus on gold's anti-inflation properties [2] - Technical analysis indicates that gold is at a critical decision point, with initial support at $2320 and strong support at $2280 [2] - Key resistance levels are identified at $2380 and $2430, with current prices fluctuating around $2340 [2] Group 4 - Future factors influencing gold prices include upcoming U.S. inflation data, geopolitical risks, and central bank gold purchasing trends [2] - Investment strategies suggest short-term traders focus on the $2320-$2380 range, while long-term investors should consider buying on dips to $2280-$2300 [2] - Conservative investors are advised to wait for price corrections to the $2250-$2280 range before making purchases [2]

Core Insights - The investment strategies of ultra-rich family offices remain consistent despite market volatility and geopolitical tensions, with a focus on long-term wealth preservation and growth [2][4] - Family offices are particularly concerned about geopolitical conflicts, political instability, and economic recession, with a significant portion viewing the wars in Ukraine and Gaza, as well as US-China tensions, as risks [3][4] Asset Allocation Trends - The average family office allocates 31% of its assets to public equities, an increase from 28% in 2023, while private equity allocations have decreased from 26% to 21% [6] - Alternative assets make up 42% of total allocations, and 38% of family offices plan to increase their investments in public equities, indicating a strong appetite for risk [6] - Allocations to cash, fixed income, private real estate, infrastructure, hedge funds, private credit, and commodities have remained relatively stable [6] Regional Perspectives - Family offices in the Americas exhibit a positive outlook, with over a third not preparing for extreme market events, while those in Asia Pacific and EMEA show more caution, with only 12% and 14% respectively not positioned for tail risks [4] - The US remains the primary investment destination for family offices, followed by their home countries, highlighting a preference for geographic diversification [4]

Summary of Oil Market Conference Call Industry Overview - The conference call discusses the oil market dynamics, particularly focusing on OPEC's production policies and their impact on oil prices and supply-demand balance [1][2][3][4][5][6]. Key Points and Arguments 1. **OPEC Production Increase**: OPEC has unexpectedly increased production since April 2025, leading to a perception of oversupply in the market. The theoretical daily quota released is 2.46 million tons, but actual increments are limited due to geopolitical risks [1][4][6]. 2. **Oil Price Trends**: Following OPEC's announcement to continue increasing production in October, Brent crude prices initially fell but later showed resilience, indicating that the market has priced in the fundamentals adequately. The expectation is for oil prices to remain in a low range in 2025, with potential for a reversal in 2026 [2][5][6]. 3. **Supply-Demand Balance**: The current oil market is characterized by a temporary easing of supply risks, significant production pressure, and poor demand growth prospects. Prices are close to marginal cost levels, with a notable oversupply of approximately 1 million barrels per day earlier in the year [3][7][8]. 4. **Geopolitical Influences**: Geopolitical factors, particularly in the Middle East, have significantly influenced OPEC's production decisions. The conflict in the region has led to increased production levels, but the sustainability of this production is uncertain [4][14]. 5. **US Shale Oil Dynamics**: The US shale oil sector is facing challenges, with a reduction in the number of active drilling rigs and high depletion rates of existing wells. This has resulted in stagnation in shale oil production growth, with total production slightly declining to 9 million barrels per day [9][10][11]. 6. **Future Price Predictions**: The consensus is that the Brent crude price will find solid support around $60 per barrel, with a reasonable price range expected to be between $65 and $70 per barrel. The market is currently facing a supply surplus, which may lead to upward pressure on inventories [12][13]. 7. **Impact of Non-OPEC Supply**: Non-OPEC countries, particularly from offshore projects in Brazil, Guyana, and the US, are expected to contribute significantly to supply increases, further complicating the supply-demand balance [8][10]. Other Important Insights - The market's perception of oversupply is influenced by OPEC's production strategies and geopolitical developments, which could lead to significant price volatility in the future [6][14][15]. - The potential for a reversal in oil prices is contingent on changes in OPEC's production pace, North American shale supply trends, and unexpected global demand growth [2][6][14].

While the focus is on a potential government shutdown, my next guest says historically geopolitical risk has actually been conducive to growth, productivity, and asset returns overall. So, it's not a risk, it may actually be an opportunity. Joining me now is Marco Pepic.He's the macro and geopolitical strategist over at BCA Research. Uh, this is a perfect conversation to have right now, Marco, because we've just now heard the update from Megan with regard to trade and tariffs, the update from Emily with reg ...

Japan’s Defense Ministry requests a record $59.8 billion for its share of the national budget, to counter growing challenges from China and North Korea https://t.co/J4YStJ40oo ...

Project Overview - Turkey's first nuclear power plant, Akkuyu, is a $25 billion project funded, built, and operated by Russia, raising security concerns for NATO [1] - The plant aims to reduce Turkey's energy import volume by approximately 7 billion cubic meters annually [7] - Once fully online, the four reactors will have an installed capacity of 4.8 gigawatts, generating about 10% of Turkey's electricity [6] Geopolitical Implications - Russia gains a foothold in a NATO member through the Akkuyu project, potentially increasing its influence in the region [8][10] - Concerns exist that Russia could use the plant's seaport as a military facility or as leverage for political bargaining, such as halting fuel deliveries or maintenance [10][11] - NATO expresses concerns about potential security risks due to Russia's involvement, while the Kremlin asserts it's a mutually beneficial partnership [1][16] Turkey's Energy Strategy - Turkey seeks energy independence and economic development through the Akkuyu Nuclear Power Plant, reducing reliance on energy imports from countries like Russia, Iran, and Azerbaijan [2][3] - Turkey has been trying to build a nuclear power sector since the 1950s, with the deal with Russia signed in 2010 based on a build-own-operate model [4] - Turkey is in talks with several countries to build another nuclear power plant, but dependence on one supplier is a concern [19] Russia's Role and Investment - Rosatom, Russia's state nuclear agency, is responsible for all aspects of Akkuyu, from construction to decommissioning, representing a unique model for the industry [5] - Rosatom is investing around $25 billion in the project and needs to operate it for decades to recoup expenses, creating incentives for maintaining a stable political relationship [15] - The knowledge Turkish operators gain from Russia for this specific power plant deepens Turkey's dependency on Russia [14]

Market Trends & Investment Opportunities - Increasing numbers of Americans are seeking citizenship by investment programs, driven by political and economic uncertainty [1] - Inquiries about golden passports from Americans have surged by 182% in the first quarter of this year compared to the same period last year [3] - American inquiries regarding these programs rose by over 500% between 2019 and 2023 [4] Drivers of Demand - Anxiety over US politics and global wars is a major factor driving Americans to seek alternative citizenship [3] - The programs are viewed as an insurance instrument or hedge against geopolitical risk [4] - Pandemic-related travel restrictions initially boosted interest in these programs [5] Program Details & Economic Impact - Five Caribbean countries offer citizenship by investment for as low as $100,000 [1] - These programs fund infrastructure, education, and disaster preparedness in the host countries [6] - In Grenada, revenue from the citizenship by investment program constituted over 25% of the island's GDP in 2023 [6] Alternative Programs & Proposed US Initiatives - European countries like Portugal and Spain offer long-term visas in exchange for investments, though this practice is controversial [7] - A proposed "gold card" program in the US, requiring a $5 million investment, faces legal hurdles and limited interest [7]

Core Viewpoint - The content emphasizes the importance of conducting personal due diligence and consulting competent advisors before making any financial decisions, particularly in the context of investments and trading activities [1]. Group 1 - The website provides general news, personal analysis, and third-party content intended for educational and research purposes [1]. - It explicitly states that the information does not constitute any recommendation or advice for investment actions [1]. - Users are advised to perform their own due diligence checks and apply their discretion when making financial decisions [1]. Group 2 - The website includes information about complex financial instruments such as cryptocurrencies and contracts for difference (CFDs), which carry a high risk of losing money [1]. - It encourages users to carefully consider their understanding of these instruments and their ability to afford potential losses [1]. - The content does not guarantee real-time accuracy or completeness of the information provided [1].