ESG

It shouldn’t. MSCI Study Finds Higher ESG Ratings Lower Cost of Capital for Companies-ESG News

In a comprehensive study conducted by MSCI ESG Research, the relationship between MSCI ESG Ratings and the cost of capital for corporate equity and debt issuers was analyzed. The study revealed that companies with higher ESG ratings generally experience lower financing costs, both in equity and debt markets. This relationship holds true even after accounting for various factors such as home market, sector, and credit quality.

Woke Companies

@robbystarbuck

It’s time to expose Harley Davidson. @harleydavidson

has been one of the most beloved brands in America but recently on CEO Jochen Zeitz’s watch, they’ve gone totally woke.

https://x.com/robbystarbuck/status/1815754041214845145

Looks like a short here using the 200 day as a stop.

Things that Get Blamed For Climate Change

AI is going to a beast when it comes to needing power. It’s not going to matter whether it’s clean or dirty. I would continue to buy dips in any power generation area. AI Boom to Slow Pace of US Emissions Reduction, Report Says-Bloomberg

The group said the Inflation Reduction Act, passed in 2022, has helped create a pathway for deep decarbonization across the energy and transportation sectors – but the US is still only on track to achieve as much as a 43% emissions reduction at the start of the next decade.

The report highlights skyrocketing electricity demand from artificial intelligence and other data center uses as one of the key obstacles.

Market

Today looks to be about the two major earnings from last night, GOOGL and TSLA. Also keep an eye on a potential resumption of the rotation into small caps.

GOOGL was slightly better than estimates but probably not enough about AI.

Google Fails to ‘Wow’ as AI Bills Mount-WSJ

Advertising business faces tough growth comparisons, while AI spending continues to surge

Would be using the 50 day moving average for longs or shorts here.

TSLA rallied big into earnings and is now getting crushed. Tesla’s Auto Woes Crash Elon Musk’s AI Dreams-WSJ

The electric-vehicle pioneer’s second-quarter numbers, reported late Tuesday, missed analysts’ expectations at most levels. The automotive gross-profit margin excluding regulatory credits—a closely watched measure of underlying profitability in the core vehicle business—came in at 14.6%, compared with consensus expectations of 16%, according to RBC’s calculation. The stock fell roughly 8% after hours.

Some support at 210 then you have the 50 day and 200 day. My sense at this point is the stock went up too far too fast and we should test those levels to the downside.

NVDA is under pressure as well, would use the 50 day for clues on whether to go long or short. I would still be looking to buy dips. Nvidia Stock Falls. What Alphabet’s Disappointing AI Spending Plans Mean for the Chip Maker.-Barron’s

But it’ll be tough for Nvidia investors to get carried away by the report, because Alphabet tempered expectations by sticking to—rather than raising—its spending guidance for the rest of 2024.

Bitcoin Price Rises. Why Donald Trump Could Give Cryptos a Boost.-Barron’s

Trump—who has sought in recent months to position himself as an ally of the crypto industry —is headlining the event with a speech scheduled for Saturday night. He’ll also host a campaign fundraiser on the sidelines of the conference.

Kamala looks like she’s reaching out to the Bitcoin bros also, could be a win/win for the bulls. Yesterday could have been a great dip buy. Would use 50 day as support.

Secret Service

They could easily just blame it all on her and move on. I really hope they continue to try to get to the bottom of this, but I’m not optimistic. Secret Service Director Resigns But The Cover-Up Continues-Daily Wire

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