🫠 Oh great, the future's awful

Instacart gave markets a welcome jolt | 2024 is set to be tough | [Finimize](   TOGETHER WITH   Hi {NAME}, here's what you need to know for September 20th in 3:11 minutes.   📊 This one's for the pros. Join Public's Leif Abraham and Interactive Brokers' Steve Sanders for [Future of Finance: Building Global Platforms for Next-Gen Investors]( this Wednesday, September 20th, and find out how investment platforms are evolving on a global scale. [Get your free ticket]( Today's big stories - Instacart’s listing gave markets a shot in the arm - Four investing takeaways from titan Howard Marks – [Read Now]( - The OECD slashed its growth outlook for 2024 Super Market [Super Market] What’s going on here? Instacart’s initial public offering (IPO) [delivered]( a fresh new boost to a debut-hungry market this week. What does this mean? US stock markets had been in something of a listing drought before chip designer Arm had its outing last week. And, now, just like buses, they seem to be coming all at once, with Instacart tossed into the mix just a few days later. The grocery delivery startup’s listing roughly followed Arm’s recipe, with a bunch of big supporters – PepsiCo and Sequoia Capital among them – on hand to support the debut, and a share price that was set to simmer, not boil. It all made for the second big IPO serving in the space of a week, with pandemic-popular Instacart raising almost $700 million. And that’s just set the table for more – data automation provider Klaviyo is set to start trading this week, and the German socks-and-sandals trend-bucking brand Birkenstock is also stepping up plans. Why should I care? For markets: Fresh pickings. With two strong, back-to-back debuts in the bag, we might soon see a bumper crop of companies planning their own floats. And with the way investors devoured Instacart’s shares, this market might appear particularly appetizing to other venture-backed startups. Just don’t go thinking this is a new golden era for stock debuts: with these two IPOs, the amount raised on US exchanges might have drawn level with what was raised by this time last year, but it’s still less than 10% of the amount from the same period in record-setting 2021. Zooming out: Super market sweep. Still, any uptick in listings action is a welcome improvement for US exchanges, which are known to fiercely compete for them – and the fees they generate. So far this year, the tech-driven Nasdaq has managed to shove its cart out ahead of the New York Stock Exchange’s, having snagged both Arm and Instacart’s big openings. You might also like: [Here’s how to think about the hottest IPO in ages.]( Copy to share story: [/super-market]( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Super Market&utm_campaign=daily-global-20-09-2023&utm_source=email) Analyst Take Howard Marks’ Four Investing Life Lessons [Howard Marks’ Four Investing Life Lessons]( By Russell Burns, Analyst Howard Marks is an investing titan, so his memos are usually worth [paying attention]( to. His latest details how Marks manages risk, the importance of having more winners than losers, why most active managers fail to beat the market, and how to generate “[alpha” opportunities](. Let’s take a closer look at [his life lessons](, and see how they could improve your own investment acumen. That’s today’s Insight: [four investing lessons from legend Howard Marks.]( [Read or listen to the Insight here]( SPONSORED BY PUBLIC Indulge in some American dreamin’ The initial public offering market has been warming up this year, and Arm’s $65 billion debut last week probably means you're hearing more and more about US-listed stocks right now. But [Stateside shares]( aren’t always easy to come by, not least because limited trading hours are already troublesome before you factor in a pesky international time difference. It doesn’t have to be this way. Meet [Public.com](, your gateway to US markets. [Find Out More]( When you support our sponsors, you support us. Thanks for that. Econo-meh [Econo-meh] What’s going on here? The OECD looked into the world’s economic tea leaves and [foresaw]( an underwhelming 2024. What does this mean? The OECD grudgingly upped 2023’s global growth outlook to 3% – still a smidge lower than last year's 3.3% – and we owe a tip of the hat to the US economy for keeping those numbers respectable. But 2024 – well, that’s where the clouds start to gather. The culprits seem to be peskily high interest rates, which are now sapping business and consumer confidence, along with the fading of China’s once-vaunted economic renaissance. All in all, that means the OECD’s crystal ball sees growth of no more than 2.7% next year. Barring Covid-plagued 2020, that would mark the most sluggish pace since the meltdown that was the global financial crisis. Why should I care? For markets: Rate expectations. Interest rates loomed large in the OECD’s forecast – and for good reason. After all, even as headline inflation seems to be in its final act, core inflation (which overlooks volatile food and energy prices) refuses to exit stage left. And that doesn’t leave central banks with a whole lot of wiggle room. In fact, plenty of central banks are set against further hikes – but when it comes to actual rate cuts, the OECD thinks their hands might be tied till well into 2024. And that means that the average Joe and businesses aren’t on the home stretch just yet. The bigger picture: Oil’s sizzling. With the economic picture already pretty cloudy, a comeback in oil prices was the last thing most countries needed – but supply cuts from OPEC+ have helped [push]( them to a ten-month high. And remember, oil’s the lifeblood of most economies, so when it spills, it can dampen other areas too. If this uptrend continues, then, it might add fuel to inflation’s fire, and prolong economies’ rate-induced pain. You might also like: [Economists feel pretty rosy about this year. Next year’s another story.]( Copy to share story: [/econo-meh]( 🙋 [Ask a question](mailto:questions@finimize.com?body=Ask us a question: Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Econo-meh&utm_campaign=daily-global-20-09-2023&utm_source=email) 🪧 Forget the billboards Old-school tactics won't engage [modern investors](. Capturing the attention of clued-in whippersnappers takes something a little [more up-to-date]( – like a [promotional partnership]( with Finimize. [Book A Demo]( 💬 Quote of the day The second day of a diet is always easier than the first. By the second day, you’re off it." – Jackie Gleason (an American actor) [Tweet this]( SPONSORED BY PUBLIC Take a trip Stateside It’s only natural to be curious about US stocks. After all, American tech stocks have been the talk of the town – heck, the whole world – this year. So if you want to dive into one of the most popular global markets, check this out: [Public.com is now live in the UK](. [Discover More]( When you support our sponsors, you support us. Thanks for that. 🎯 On Our Radar 1. Neanderthal justice. The debate about our ancient cousins [reveals more about us]( than them. 2. Theory will only get you so far in the real world. Here's how to [master options trading](.* 3. Music of the mind. Your [playlist might be revealing]( your personality traits. 4. Options trading is a big deal in the crypto-sphere. [Find out how to use them]( in your own strategy.* 5. AI’s musical touch. Explore the [messy world of creating hit songs]( using only AI tools. When you support our sponsors, you support us. Thanks for that. 🌍 Finimize Live 🥳 Coming Up In The Next Week... All events in UK time.🚀 [Future Of Finance: Building Global Platforms For Next-Gen Investors](: 6pm, September 20th 📚 [Mastering Technical Analysis For Traders](: 5pm, September 26th And After That...💰 [Money Matters: Her Wealth Roadmap](: 5pm, October 25th 🎉 [Modern Investor Summit 2023](: 12pm, December 5th and 6th ❤️ Share with a friend Thanks for reading {NAME}. If you liked today's brief, we'd love for you to share it with a friend. You stay classy, {NAME} 😉 We’d love to hear your thoughts. [Give feedback]( Want to advertise with us too? 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