Today’s topics

• 2024 home-buying dilemma: to buy or wait?

• Elite’s "passport portfolios" for potential escape routes

• Adobe is enhancing Premiere Pro with AI

• Gravity-free levitating material

  and more…

On Monday, stocks experienced significant losses as bond yields increased and market focus turned to Iran-Israel tensions along with the ongoing corporate earnings season. The S&P 500 fell 1.2%, dipping back below the 5,100 level, marking its sharpest two-day decline, at 2.6%, in over a year. The Dow Jones dropped by 0.7%, while the Nasdaq tumbled 1.8%, with major technology stocks driving the downturn. All three indexes reversed earlier gains made during the session.

Home-buying dilemma: to buy or wait? Existing home sales dropped by 3.3% from February 2023 to February 2024, with 81% of consumers feeling it's a bad time to buy. However, there's a glimmer of hope for buyers as market conditions start to shift. Days-on-market figures are up, giving buyers more time to decide (homes spent an average of 38 days on the market before selling in February, showing a monthly and yearly increase). 

The elite pursuit of security: passport portfolios. Concerns over instability drive the wealthy to seek second passports, forming "passport portfolios" for potential escape routes. Some examples are notable figures like tech investor Peter Thiel (New Zealand citizenship) and former Google CEO Eric Schmidt (Cyprus citizenship). The top destinations for additional citizenships among Americans include Portugal, Malta, Greece, and Italy.

Iran-Israel tensions rattle crypto market. Bitcoin nosedives 7% in under an hour following Iran's attack on Israel, dragging down prices of other cryptocurrencies. Bitcoin hits $62,570, with Ethereum down 9% to $2,923. Dogecoin also take a hit, dropping by at least 15%.

U.S. Grants Samsung $6.4 Billion for Chip Factories in Texas

Biden administration provided $6.4 billion to Samsung for building advanced computer chip factories in Texas. This subsidy is part of a larger effort to bring chip production back to the U.S. Samsung will invest $40 billion to upgrade existing facilities and construct new ones, including a research and development center and an advanced packaging facility for various electronic components.

Adobe Premiere Pro is getting AI. Adobe is enhancing Premiere Pro with generative AI video tools, including a model for Firefly. These tools and potential integrations with Runway, Pika Labs, and OpenAI's Sora models will enable users to extend shots, add/remove objects, and generate video using text prompts, akin to Photoshop's Generative Fill feature.

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Ryan Reynolds Cheers Wrexham's Soccer Triumph

Actor Ryan Reynolds celebrates as Wrexham secures promotion to English 3rd division with a 6-0 victory over Forest Green. This marks the team's second consecutive promotion since Reynolds and others invested, propelling them closer to the Premier League.

Gravity-free material that levitates. A team of scientists in Japan has demonstrated a small piece of graphite levitating above a grid of magnets.

America runs on coffee: consumption hits 20-year high. Over two-thirds of American adults indulged in coffee within the past day, marking the highest consumption level in over two decades.

London zoo welcomes endangered lion cubs. London Zoo has welcomed three precious lion cubs from the endangered Asiatic species. These cubs are particularly significant as Asiatic lions, now restricted to Gujarat's Gir Forest in India, face a dangerous decline in numbers.

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