TLDR

MARKET RECAP → The S&P 500 (VOO) and Dow Jones (DIA) surged to new highs on Friday, wrapping up a strong week. The rally was driven by major banks kicking off the third-quarter earnings season with promising results.

GEOPOLITICAL RISKS ON THE RISE → Jamie Dimon warned that rising conflicts in the Middle East and Ukraine are making global conditions more dangerous, with potential impacts on the economy. While the U.S. shows resilience, Dimon urged investors to stay vigilant amid heightened uncertainty.

FORMER FTX EXECUTIVE'S UNORTHODOX LINKEDIN UPDATE → Ryan Salame, now serving a 7.5-year sentence for illegal campaign donations, cheekily updated his LinkedIn profile to reflect his new "role" as an inmate. He joins other FTX figures caught in the collapse that rocked the crypto world.

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Geopolitical Risks On The Rise

🌍 Global Instability Grows: Jamie Dimon, JPMorgan's (JPM) CEO, raised concerns about escalating geopolitical risks, citing intensifying conflicts in the Middle East and Russia’s continued invasion of Ukraine. He warned that the situation was becoming increasingly treacherous.

📊 Economic Uncertainty: Despite signs of the U.S. economy’s resilience, Dimon remained cautious, noting that geopolitical risks could impact economic outcomes and global stability in unpredictable ways.

💣 Major Conflicts: Dimon highlighted worsening tensions between the U.S., China, and the nuclear threats posed by nations like Iran and North Korea.

TODAY’S TOP NEWS

Former FTX Exec's LinkedIn Update

🔗 New Job Title: Ryan Salame, former FTX executive, updated his LinkedIn with a quirky post about starting a new "position" as an inmate, as he began his seven-and-a-half-year sentence for unlawful campaign donations.

💼 Criminal Charges: Salame pleaded guilty to using FTX customer funds for political donations, agreeing to forfeit $1.5 billion and paying over $11 million in restitution.

💥 Fallout from FTX: This follows FTX’s collapse in 2022, which sent shockwaves through the crypto industry, leading to founder Sam Bankman-Fried’s 25-year sentence.

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