It was reported that Foxconn, Apple’s largest iPhone manufacturer, has increased its investment in a factory in India.
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2022-12-12 | Sign Up | View Online
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Business & Stocks 🏢
Foxconn invests $500M in India business as Apple reconsiders China production (2 min read)

It was reported that Foxconn, Apple’s largest iPhone manufacturer, has increased its investment in a factory in India. The news came after Apple recently revealed plans on shifting its production to India and away from China due to the country’s unpredictable Covid policies. Foxconn’s effort to expand was seen as a way to stay as Apple’s main manufacturer as the latter shifts production location. Some projected that India will be the top iPhone hub by 2025.
Walmart-backed fintech startup plans to launch its own buy now, pay later (3 min read)

A Walmart backed startup, called One, is launching a buy now, pay later payment service as soon as next year that could be used at Walmart and other retailers. The effort was motivated by the current economic challenges that have caused a slowdown in consumer spending. One is led by Goldman Sachs veterans and acquired by Walmart in 2021. The new payment service may complement Walmart’s existing buy now, pay later option that it offers through Affirm.
Markets & Economy 📈
Wholesale prices rose more than expected in November (3 min read)

The Producer Price Index (PPI) that measures whole prices was up 0.3% in November. It is slightly higher than estimates and the previous month which is a reminder that inflation can take a while to normalize. However, the PPI rose 7.4% from a year ago, their slowest annual pace since May 2021. US stocks fell following the news while Treasury yield moved higher. The last piece of inflation data before the next Fed’s meeting will be the CPI report releasing on Tuesday.
World's money managers see stocks rallying in 2023 (6 min read)

A recent Bloomberg survey showed that most fund managers see a rally in 2023 despite the recent bearish view from prominent figures and top company executives. The survey was conducted from Nov 29 to Dec 7 on 134 fund managers, and 71% expect stocks to rise with an average response of 10% return. However, high inflation and deeper recession are still the top concerns for next year and stocks could fall to new lows before rallying in the second half.
Funds & ETFs 📊
Best-Performing ETFs in the Last 10 Years (4 min read) put together a list of 10 best performing ETFs in the last decade as of the end of November 2022. The list excludes ETFs that use strategies like leverage or inverse. Eight of the top performing ETFs were in the technology sector, with four specifically in semiconducting. Although semiconductor ETFs fell heavily this year, their annualized returns in the last 10 years were still phenomenal. Full list of the top performing ETFs are available in this article.
The (American) age of ETFs (2 min read)

Despite the market sell-off and growing recession fear this year, ETF continues to gain shares across all fund types. So far this year, there have been 407 ETF launched in the US compared to just 169 other types of open-ended funds, surpassing the previous record. The ETF share of global funds has also tripled in the last decade as of 2022, mostly driven by the US. The ETF growth in Europe and Asia steadily climbed, but at a much slower pace than North America.
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