Apply announced a temporary reduction in iPhone 14 production because of the continued lockdown in Zhengzhou, where the
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2022-11-08 | Sign Up | View Online
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Business & Stocks 🏢
Apple warns of lower iPhone shipments (5 min read)

Apple announced a temporary reduction in iPhone 14 production because of the continued lockdown in Zhengzhou, where the biggest iPhone factory is located. It’s operating at significantly reduced capacity due to China’s zero-Covid policy. Apple warned it would ship fewer units and customers would experience a longer wait time. It's also possible the company will sell less iPhones in December which may impact their sales outlook for the holiday season.
Trump-Tied SPAC Gains as Investors Leap at Presidential Bid (3 min read)

Investors snapped up shares of Digital World Acquisition Corp (DWAC) after Donald Trump hinted at plans for another presidential run. DWAC is a blank-check firm set to merge with Donald Trump’s social media company. It rallied more than 66% after the news and was one of the most actively discussed tickers across multiple social media platforms on Monday. Other companies related to Donald Trump or his re-election campaign also jumped in share prices.
Markets & Economy 📈
Oil falls in choppy trade on mixed China COVID signals (2 min read)

Oil prices edged lower on Monday after rising above its two-month highs. The choppy oil prices were driven by the mixed signals on China reopening their economy. The Wall Street Journal reported Chinese leaders were considering Covid restriction easing but at a slower pace without a set timeline. Oil prices jumped over the speculation of potential tighter supply, but later pulled back when the Chinese health officials reiterated their commitment to strict Covid policies.
Consumer confidence in the housing market hits a new low (2 min read)

Fannie Mae’s monthly survey shows that only 16% of consumers would buy a home now, the lowest since the start of the survey in 2011. 37% of the respondents expect home prices to drop in the next 12 months. Rising mortgage rates have added affordability constraints that reduce homebuyer demand. Home prices have dropped in the past months but are still 10.7% higher in September than the same month last year as homeowners are reluctant to sell at a lower price.
Funds & ETFs 📊
ETF Tracking Women-Led Companies (2 min read)

Hypatia Capital has filed for a new ETF that aims to prove female leadership can deliver better business results. The Hypatia Women CEO ETF (WCEO) will be launched early next year and it tracks the performance of US companies with a minimum market capitalization of $500 million that are led by female CEOs. Women leadership-focused funds is a niche sector that emerged in recent years. Currently there are only about three available in the US.
Index Industry Finds Growth in Fixed Income ESG (2 min read)

For the first time, fixed income ESG indexes have surpassed equity ESG indexes in terms of numbers worldwide. In an annual survey on global indexes, equity ESG indexes saw their numbers increase by 24.5%, far behind the 96% increase in the number of fixed income ESG indexes. Much of the index growth in the last three to four years have been in fixed income and ESG individually, which follows the trend in the rise of fixed income ESG indexes.
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