One of the best pieces of advice that I got in the last 10 years was this: Turn off the news and read a book. So, I did, I listen to the market news, but the other news has been erased from my thinking. One book that I thought was relevant today is Wireless Wars: China’s Dangerous Domination of 5G and How We’re Fighting Back. The author Jon Pelson explains how America invented cellular technology, taught China how to make the gear, and then handed them the market. Pelson shares never-before-told stories from the executives and scientists who built the industry and describes how China undercut and destroyed competing equipment makers, freeing themselves to export their nation’s network gear—and their surveillance state. He also reveals China’s successful program to purchase the support of the world’s leading political, business, and military figures in their effort to control rival nations’ networks.
For anyone curious about the hottest issue at the intersection of technology and geopolitics, Wireless Wars offers an immersive crash course and an unforgettable read.
Go to https://www.wireless-wars.com/ and check it out yourself. How we are fighting back is ingenious.
Happy Monday. Good Luck out there this week.
Global Spotlight
OPEC+ meets as oil prices reach a three-year high. The Oct. 4 OPEC+ ministerial meeting will be closely watched after the European benchmark Brent hit $80 per barrel for the first time in three years Sept. 28. OPEC+ is already planning to add 400,000 b/d of production to the market each month through the end of the year, but with oil prices so high, there is significant pressure for a greater increase.
Rising tensions along the Tajik-Afghan border. Reports have run rife of troop buildups, militant infiltration plots and negotiations on an Afghan government-in-exile in Tajikistan. Following Russian Foreign Ministry spokesman Alexey Zaitsev’s call for dialogue and calm along the border, both the Taliban and the Tajik government denied they had increased forces along the border.
Ethiopia’s Abiy forms a new government amid the threat of sanctions. Ethiopian Prime Minister Abiy Ahmed Ali will oversee the formation of a new government Oct. 4 after his Prosperity Party won a majority of parliamentary seats in June elections.
Stratfor.com
Economic Calendar
Briefing.com has a good U.S. economic calendar for the week. Here are the main U.S. releases.
Briefing.com
Last Weeks Numbers
Review Last weeks numbers here.
Earnings
Source I/B/E/S data from Refinitiv
S&P 500 Aggregate Estimates and Revisions
- The 21Q3 Y/Y blended earnings growth estimate is 29.4%. If the energy sector is excluded, the growth rate for the index is 22.6%.
- Of the 17 companies in the S&P 500 that have reported earnings to date for 21Q3 82.4% reported above analyst expectations. This compares to a long-term average of 66%.
- The 21Q3 Y/Y blended revenue growth estimate is 14.1%. If the energy sector is excluded, the growth rate for the index is 11.6%.
- 82.4% of companies have reported 21Q3 revenue above analyst expectations. This compares to a long-term average of 61%.
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