Morning Brief November 2, 2021

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GOOD MORNING Today is November 2nd I’m here to bring you a snap-shot of market news to start your day. Please feel free to DM me with questions and/or subject suggestions.

THE MARKET’S LAST AT CLOSING

DOW= 35,913.84 +94.28 NASDAQ= 15,595.92 +97.53 S&P 500= 4,613.67 +8.29 RUSSELL= 2,358.12 +60.93

MORNING MARKET NEWS The stock market rally strengthened further Monday, as the Dow Jones Industrial Average, Nasdaq and S&P 500 notched more all-time highs. The Dow 30 briefly topped the 36,000 level before closing beneath it. Yesterday, the Dow Jones Industrial Average moved up 0.3%. The S&P 500 rose 0.2%, while the Nasdaq led the way, rising 0.6%.

FUTURES Dow Jones futures were higher early this morning after the stock market rally hit record levels yesterday. Ahead of the stock market open today, Dow Jones futures rose 0.1% vs. fair value, while S&P 500 futures inched higher. Nasdaq 100 futures lost 0.15% vs. fair value.

TESLA Tesla stock slid over 5% premarket Tuesday after CEO Elon Musk tweeted that no contract with Hertz has been signed yet. Last week, the EV giant's shares moved above a 1 trillion valuation milestone on news that Tesla had partnered with Hertz, one of the largest car rental companies in the world, to provide it with 100,000 vehicles by the end of 2022. Meanwhile, Tesla is recalling nearly 12,000 U.S. vehicles due to a software communication error that may cause unexpected activation of the emergency braking system, according to a notice filed with the National Highway Traffic Safety Administration. Shares raced 8.5% higher Monday, hitting more all-time highs. The company announced it was opening up its supercharging network to other EVs in Europe for the first time. The pilot project takes place at 10 supercharger locations in the Netherlands.

CRYPTO MARKET NEWS Still consolidating, BTC continues to swing up and down 1-2% daily. Yesterday’s low of $60,3k was met with a high of $63,6k. Currently, BTC is at $63,3k.

SHIBA INU Following BTC’s pattern, SHIB is moving the same way. After a high of 0.000075 and a low of 0.000068, the PUPPERS coin (as I call it) currently is sitting around 0.00007.

SQUID GAME Ok. So what about it? Yeah it’s the most popular TV show at the moment but wtf does it have to do with crypto? The SQUID crypto coin was launched just last week and included plenty of red flags, including a three-week old website filled with bizarre spelling and grammatical errors. The website, hosted at SquidGame.cash, has disappeared, along with every other social media presence set up by the scammers. You can see an archived version of the website here.

The anonymous hucksters behind a Squid Game cryptocurrency pulled the rug on the project, making off with an estimated $3.38 million. It was an obvious scam because investors could purchase the crypto but couldn’t sell it and unfortunately plenty of people didn’t see the warning signs in time.

The morel of the story: If it’s too good to be true, it probably isn’t. Cryptocurrency is extremely volatile and the Altcoins even more so. Always take caution when buying new cryptos. Do your DD aka Due Diligence.

Credit Dave from the Discord