💸Trump election victory could push Bitcoin to $92K

GM. This is The Money Way - the newsletter that makes you smarter about Crypto, Stocks, Real Estate.

Let's see what we’ll discuss today:

• 📉 Germany’s Economy Risks Period of Stagnation

• 🔥 Trump election victory could push Bitcoin to $92K

• 📈 S&P 500 bounces after 3 days of losses as Tesla rallies after earnings

• 🏠 Saudi Arabia Taps BlackRock to Build Mortgage-Backed Securities Market

• 👤 Special guest

Estimated reading time: 5 minutes

Jobless claims fall to lowest level in nearly a month

Weekly jobless claims fell unexpectedly, with 227,000 claims filed in the week ending Oct. 19, down from 241,000 the previous week and below economists' expectations of 242,000. This decline reverses September's upward trend and reflects recovery from recent weather disruptions.

Economists view the drop in claims as a sign of a resilient labor market, with few layoffs despite economic uncertainties. The Fed's October Beige Book echoed this sentiment, reporting low worker turnover and limited layoffs.

Ahead of key labor data next week, traders are pricing in a 95% chance of a 25-basis-point rate cut by the Federal Reserve in November.

Germany’s Economy Risks Period of Stagnation

Germany's economy may stagnate by year-end after a shallow recession in the first nine months, according to the Bundesbank.

Output likely declined "slightly" in the third quarter following a 0.1% drop in the second. The economy is expected to stabilize in the fourth quarter, avoiding a deep downturn, but remains in a weak phase since mid-2022.

Challenges include a struggling manufacturing sector, high borrowing costs, and political uncertainty. While services are growing, household consumption remains lower than expected.

Rising wages outpacing inflation could also impact the disinflation process, especially with ongoing labor shortages in services.

Trump election victory could push Bitcoin to $92K

Jeff Park, Bitwise's head of alpha strategies, predicts Bitcoin could surge to $92,000 if Donald Trump wins the 2024 U.S. presidential election.

Other analysts, like Bitcoin millionaire Erik Finman, echo this optimism, forecasting Bitcoin could reach $100,000 under Trump’s pro-crypto policies. Trump has vowed to make the U.S. the "crypto capital of the world" and to fire SEC Chair Gary Gensler on his first day in office.

However, not all are convinced of long-term benefits. Billionaire Mark Cuban warned that while Bitcoin might see a short-term boost, Trump’s inflationary policies could eventually stifle gains. Polls currently show Harris leading Trump by 1.8%.

Ethereum ICO participant dumps 3,000 ETH for $7.6M cash out

An Ethereum ICO participant, known as a whale, recently sold 3,000 Ether (ETH) worth over $7.6 million, following a previous sale of 7,000 ETH in July that caused a 15% drop in the cryptocurrency's price.

Despite the large transactions, this latest sale has not significantly impacted ETH's price.

The whale still holds 37,070 ETH, valued at approximately $94 million, out of the 254,908 ETH they initially acquired during Ethereum's 2014 ICO.

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S&P 500 bounces after 3 days of losses as Tesla rallies after earnings

The S&P 500 rose 0.2% on Thursday, rebounding after three consecutive losing sessions, buoyed by strong earnings reports from companies like Tesla, which surged over 15% after beating Q3 expectations.

However, the Dow Jones Industrial Average fell 83 points (0.2%), weighed down by IBM, which dropped more than 5% after missing consulting revenue targets, and Boeing, which slipped 2% after labor contract issues.

So far, 76% of the companies in the S&P 500 that have reported Q3 earnings have beaten analyst expectations.

Saudi Arabia Taps BlackRock to Build Mortgage-Backed Securities Market

Saudi Arabia is partnering with BlackRock, the world’s largest fund manager, to develop a mortgage-backed securities market aimed at improving housing affordability.

The collaboration with Saudi Real Estate Refinance Company, the kingdom’s equivalent of Fannie Mae, aims to diversify funding sources and lower interest rates for borrowers.

BlackRock CEO Larry Fink highlighted that this would reduce mortgage spreads, making home ownership more affordable. This initiative is part of Saudi Arabia's broader goal to increase home ownership to 70% by 2030 and diversify its economy away from oil.

The right balance between growing your income and managing risk - by Wolf Financial

In today’s unpredictable market, finding the right balance between growing your income and managing risk can be a real challenge. That’s why I’ve been drawn to WEEL ETF—it offers a simple, steady approach that aims to deliver stock market-like returns, but with less of the wild ups and downs.

What I appreciate most about WEEL is that it doesn’t try to guess what’s next in the market or follow the latest trends. Instead, it takes a calm, disciplined approach that stays focused, no matter what’s happening in the world. Here’s what makes it work: WEEL generates income by selling put options that are backed by cash or U.S.

Treasury securities. This allows the fund to earn consistent income while managing risk. And if any of those options result in owning stocks, WEEL then sells covered call options on those shares, adding an extra layer of income. It resets these positions regularly to stay flexible and in control.

What this means for you is that you can get broad market exposure while keeping risk in check and still growing your income over time. If you’re like me and want a smarter, more structured way to invest long-term, WEEL offers a balanced strategy that can help you navigate today’s markets with more confidence and peace of mind.

You can find Wolf on Twitter/X here: https://x.com/WOLF_Financial

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.