Saturday☕️

Saturday☕️

Trending:

  • Nigeria Power Grid Blackout
  • Auto Industry Strike
  • Microsoft Protein AI

Markets:

  • Yesterday's U.S. stock market:
TradingView
  • Yesterday's commodity market:
TradingView @11:31 PM EST
  • Yesterday's crypto market:
TradingView @11:32 PM EST

Nigeria Power Grid Blackout:

  • After celebrating 400 consecutive days without a major blackout, Nigeria, Africa's largest economy, faced a nationwide power outage. The blackout was caused by a fire on a vital transmission line connecting the Kainji and Jebba power plants. Power Minister Adebayo Adelabu has stated that the situation is being addressed and over half the connections have been restored.
  • Despite its stature as a major oil and gas player, Nigeria often contends with an unreliable power grid. This inconsistency has led many households and businesses to depend on diesel and petrol generators. This reliance becomes particularly burdensome for sectors like tech, especially after a recent removal of fuel subsidy.
  • Previous year records indicate multiple grid failures due to technical issues. While Nigeria claims 12,500 MW of installed capacity, it produces only around a quarter of that. The extensive blackout came as a surprise even to Lagos residents who regularly experience power cuts. Efforts are in progress to restore power across the country.

Auto Industry Strike:

  • On Friday, the United Auto Workers (UAW), which represents a 145,000 workforce across General Motors (GM), Ford, and Stellantis (previously Chrysler), initiated a targeted strike. The strike involved only a segment of their membership, specifically 12,700 workers from select factories.
  • The union, which renegotiates its contracts every 4.5 years, sought substantial benefits and a 40% wage increase over a four-year period. However, the automakers' counterproposal fell short of these demands. The UAW president believes this selective strike tactic will amplify their bargaining power.

Microsoft Protein AI:

  • Microsoft has released EvoDiff, an open-source AI tool capable of generating proteins. Unlike other similar tools, EvoDiff can produce proteins without needing detailed structural data. The software is poised to accelerate the creation of new enzymes for therapeutics and industrial uses.
  • EvoDiff utilizes a large-scale AI model, trained with diverse protein data, to function. It's a diffusion model similar to those used for image generation. The model can design proteins by focusing on their sequence, even creating "disordered proteins" without a fixed 3D structure. The team behind EvoDiff plans to test the model's generated proteins for feasibility.
  • EvoDiff operates by gradually refining a "noisy" starting protein until it forms a viable protein sequence. The tool's potential is significant; for instance, given a segment of a protein, it can craft an entire amino acid sequence around it based on a certain criteria. Although promising, the research supporting EvoDiff hasn't undergone peer review yet, and further refinement is needed before its widespread commercial use.

Statistic:

  • Top 50 assets by market cap (metals, public companies, ETFs, cryptos):
  1. 🌍 Gold: $12.837T
  2. 🇺🇸 Apple: $2.736T
  3. 🇺🇸 Microsoft: $2.453T
  4. 🇸🇦 Saudi Aramco: $2.191T
  5. 🇺🇸 Alphabet (Google): $1.737T
  6. 🇺🇸 Amazon: $1.448T
  7. 🌍 Silver: $1.305T
  8. 🇺🇸 NVIDIA: $1.084T
  9. 🇺🇸 Tesla: $870.91B
  10. 🇺🇸 Berkshire Hathaway: $802.71B
  11. 🇺🇸 Meta Platforms: $772.74B
  12. 🇺🇸 Eli Lilly: $546.47B
  13. 🌍 Bitcoin: $519.88B
  14. 🇺🇸 Visa: $501.37B
  15. 🇺🇸 Exxon Mobil: $465.22B
  16. 🇹🇼 TSMC: $462.88B
  17. 🇺🇸 UnitedHealth: $450.83B
  18. 🇺🇸 Walmart: $443.13B
  19. 🇺🇸 JPMorgan Chase: $432.45B
  20. 🇩🇰 Novo Nordisk: $428.39B
  21. 🇫🇷 LVMH: $426.80B
  22. 🌍 SPDR S&P 500 ETF Trust: $406.91B
  23. 🇺🇸 Mastercard: $390.36B
  24. 🇺🇸 Johnson & Johnson: $388.77B
  25. 🇨🇳 Tencent: $386.29B
  26. 🇺🇸 Procter & Gamble: $361.71B
  27. 🇰🇷 Samsung: $360.42B
  28. 🇺🇸 Broadcom: $351.51B
  29. 🇺🇸 Home Depot: $321.42B
  30. 🇺🇸 Chevron: $317.61B
  31. 🇨🇭 Nestlé: $315.37B
  32. 🇺🇸 Oracle: $312.09B
  33. 🇨🇳 Kweichow Moutai: $307.81B
  34. 🇺🇸 Merck: $272.83B
  35. 🇺🇸 AbbVie: $268.49B
  36. 🇯🇵 Toyota: $255.83B
  37. 🇺🇸 Coca-Cola: $250.55B
  38. 🇺🇸 Pepsico: $247.56B
  39. 🇺🇸 Costco: $246.54B
  40. 🇦🇪 International Holding Company: $244.26B
  41. 🇺🇸 Adobe: $241.06B
  42. 🇫🇷 L'Oréal: $238.05B
  43. 🇨🇭 Roche: $236.64B
  44. 🇳🇱 ASML: $234.72B
  45. 🌍 Platinum: $232.67B
  46. 🇺🇸 Bank of America: $229.17B
  47. 🇺🇸 Cisco: $228.36B
  48. 🇨🇳 Alibaba: $221.74B
  49. 🌍 Palladium: $218.92B
  50. 🇫🇷 Hermès: $215.53B

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