Ryan Stancil,
Editor
Oct. 29, 2022
Since last week:
The indexes have been winning all week on news that GDP grew faster than expected. Will this last?
1. Second Jobs for Everyone
Inflation is eating away at Americans’ wealth so much that many are looking for extra work. Many are taking on second jobs, especially working parents who need every penny they can get to continue taking care of their families. It’s a grim reality brought by our current economic climate, but one that you can weather by making the right investments.
2. Canada’s Big Nuclear Push
Canada just made a big investment in nuclear. The government announced plans to spend C$970 million for a small modular reactor, and it will be just the first of several. Nuclear power continues to become more widespread, and investors in both the technology and the uranium that fuels it will win big over the next few years.
3. Texas’ Big Savings
Texans have saved nearly $28 billion over 12 years thanks to wind and solar resources. This year alone, these sources have reduced wholesale energy costs by $7.4 billion in just the first eight months. Renewable energy is catching on, and savings like this will only continue to mount. Investing in the infrastructure that will accommodate this technology will help your profits mount.
4. An Interest in Crypto
Even as the bear market rages on, institutional interest in cryptocurrency hasn’t slowed down. Fidelity recently opened ethereum trading up to institutional clients. This comes after they launched an ethereum index fund for accredited investors back in September. The company recently conducted a survey showing that 60% of institutional investors had some digital assets in the first half of the year. So, the interest is there, it’s just a matter of knowing exactly where to put your money.
What to Look For:
The Fed meets again next week on November 2nd and 3rd. Another rate hike is all but certain. We’ll have to wait to see how the market reacts.
Ryan Stancil
Editor, Daily Profit Cycle