Hello Gauchos! Investment Connections welcomes you to the academic year of 2022-23! We are excited to have you as a part of our club and look forward to connecting with each one of you at our weekly meetings. Keep an eye out for our first meeting, details of which will be posted on our Instagram!

Below you'll find:

• Last weeks market performance

• News that moved markets

• An outlook on this weeks earnings

• Finding your next summer internship

News that moved that markets

• U.S. Household Wealth Suffers Record Drop in Second Quarter U.S. household wealth fell by a record $6.1 trillion in the second quarter to its lowest in a year.

• U.S. Wholesale's Inventories Gain Revised Lower in July Inventories are a key component of gross domestic product. U.S. wholesale inventories increased less than initially thought in July as businesses slowed the replenishment of their stocks.

• Traders are pricing in a 90% chance of a 75 basis point rate hike at the next meeting, up from 57% a week earlier, according to CME Group's Fedwatch Tool.

Earnings

Bed Bath and Beyond: Bed Bath & Beyond Inc. is a retailer offering a wide selection of domestics merchandise and home furnishings.

Carnival: Carnival Corporation & plc is the largest cruise company in the world, with a portfolio of 10 cruise brands in North America, Europe, Australia and Asia, comprised of Carnival Cruise Line, Holland America Line, Princess Cruises, Seabourn, AIDA Cruises, Costa Cruises, Cunard, P&O Cruises (Australia), P&O Cruises (UK) and Fathom.

Economic Data Recap

• ISM: The ISM rose to over 56 in August, another reading above 50 which indicates expansion.

• Beige Book: Beige Book which is a special report from each district, showcased an easing in input costs along many fronts and also an improvement in the supply chain.

Upcoming Economic Data

• Markets will have their eyes on the CPI reading which might impact Fed rate hike.

Opinion: A Look into the Future: Tesla's FSD Beta Rollout

With Tesla rolling out it’s highly anticipated and long awaited full self-driving beta (FSD) feature, investors are eager to see what the future of FSD looks like. As of July 2022, there are over 100,000 Tesla drivers enrolled in the FSD Beta program in the U.S. and Canada.

In short, FSD Beta allows Tesla vehicles to drive autonomously to a destination entered in the car's navigation system. Since this is the Beta program, drivers must remain vigilant and ready to take control at all times.

The system is designed to be able to conduct short and long distance trips with no action required by the person in the driver’s seat. However drivers are pushing the capabilities of the feature by doing test drives from Los Angeles to San Diego, parking lot to parking lot, with zero takeovers. A 120 mile drive with no human interactions is a celebrated victory in the eyes of many, but still not nearly a large sample size to conclude its success.

Full Self Driving is not only a hoorah to human ingenuity, but it also plays a large part in investors calculation of the companies future value. For example, investors such as Cathie Wood of ARK sees Tesla mass commercializing robotaxis, and have placed a $4,600 base case target on shares by 2026, with robotaxis accounting for 60% of that. Tesla’s P/E ratio is currently 99.52

Despite Tesla's massive growth, the automaker currently accounts for just roughly 1% of the total vehicle market share. Tesla has put out a 20 million vehicle target by 2030.

With more to come on how FSD is able to perform, it’s safe to say that the future is already here.

Meetings and Events

• Come meet us at the club fair on September 20th as he set up table at the club fair!

• Our friends at UAS are organizing a business club fair on 22nd September from 1800hrs to 2000hrs at Mosher Alumni House!

Job Openings (because you are -99.69% YTD)

MEMES

https://ucsb.joinhandshake.com/stu/events/1103841?ref=virtual_group_events