Good Morning! Wall Street’s buzzing ahead of a busy week of earnings - in fact, it could be the busiest one of the year. And even the Fed's feeling rosy about the economy - Kashkari says he’s hopeful about a soft landing.

Good news if you’re trying to buy a house - Morgan Stanley thinks home prices will fall next year. And Miami, one of the most booming cities since Covid, is struggling to attract wealthy newcomers because of growing piles of trash and overflowing septic tanks. Barnes & Noble used to be the enemy of independent bookstores - but the chain is reinventing itself to make new locations in NYC more like them.

If you are looking for a beautifully designed investing app providing AI-powered media sentiment analysis, then check out today’s sponsor Fennel.

_{SQUEEZ OF THE DAY}

Destination Weddings Are So Back

It’s crazy to think about the unexpected things that fueled the economy in 2023 - Taylor Swift concerts, egg prices, and now destination weddings? The global destination wedding market skyrocketed from $21.31 billion in 2022 to $28.31 billion just this year alone, and it’s predicted to reach $78.89 billion by 2027.

Last year, 18% of Americans who got married picked a destination wedding, maybe because of a pent-up desire to travel after the pandemic. Right now, Mexico is the most popular location, but Europe, the Caribbean, and Costa Rica also fill out some of the most popular spots.

Couples want their wedding to feel unique. And with the power of technology, booking vendors in a different country has never been simpler. And they come with a price tag of $35,600 on average. And guests say they shell out between $600 and $1,300 to make the big day.

Takeaway: It’s not just your VP that’s saved up some serious dough and is finally finding love now - more Americans are getting married later, and they’re using the extra dough to go all-out on destination weddings. And destination weddings can fuel all aspects of the travel industry - from airlines, hotels, and online travel agencies. And if this week’s earnings are any indication - Americans continuing to pry open their wallets could save us from a recession.

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Markets Rundown

Stocks closed higher ahead of a busy earnings week.

Movers & Shakers

• (+) GoodRx ($GDRX) +37% after an upgrade by Cowen.

• (+) SoFi ($SOFI) +20% after boosting its revenue forecast.

• (–) ImmunoGen ($IMGN) -9% after the company’s medical chief stepped down.

Private Dealmaking

• Francisco Partners and TPG bought New Relic, an observability platform, for $6.5 billion

• Walmart bought out Tiger Global's stake in online retailer Flipkart for $1.4 billion

• EV.energy, an EV charging station network, raised $33 million

• Octave Bioscience, a biotech focused on multiple sclerosis, raised $30 million

• Plotlogic, a mining tech startup, raised $28 million

• Sonio, a prenatal screening startup, raised $14 million

_{SPONSORED BY FENNEL}

One Investing App to Rule Them All

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_HEADLINES

Top Reads

• The top 21 private equity power players (YF)

• Banks lean on hot deposits to shore up balance sheets (WSJ)

• FDIC sells $18.5B of Signature Bank loans to private equity (Axios)

• Cresco Labs and Columbia Cae mutually terminate $2B+ merger (Reuters)

• The benefit of owning stocks over bonds keeps shrinking (WSJ)

• Manchester United extends Adidas deal in pact worth $1.2B (MW)

• The Fed may be about to crash the plane, but focus on the profits (CNBC)

• Real estate deal gone bad hits popular crowd funder (WSJ)

• We’re in the era of the Top Gun CEO (NYT)

• Investors are happy to pay a premium for tech, but not for AI (BB)

• 3 reasons the U.S. might fix inflation without a recession (Vox)

_{BOOK OF THE DAY}

The Least Likely Millionaire

From mental hospital to millionaire. Everyone told Jonathan Beskin that his ideas would never work, his business would never succeed, and he would be a failure. He endured bullying and abuse from family, peers, teachers, and even doctors, but refused to believe them.

The Least Likely Millionaire is a triumphant memoir of overcoming crippling anxiety, toxic parenting, and a total lack of support to start and build a wildly successful company in spite of the naysayers. It’s a tale of resilience, of passionate tenacity that every underdog needs to hear.

Discover Beskin’s secret of leaning into a “healthy obsession” to fuel your quest for greatness. Let his real-world examples and key strategies motivate you to keep going. Filled with actionable takeaways, The Least Likely Millionaire will inspire you to rise to new heights and empower you to prove the critics wrong.

“A candid call to action for all those who are struggling to find their footing in life.”

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Short Squeez Picks

• Do you need a breakup budget?

• 3 ways to keep your audience focused during a presentation

• Why you shouldn’t waste money on magnesium supplements

• Why Harvard will never be an engine of social mobility

• Hiring celebrities to quit job or dump significant other

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US Non-financial Corporate Debt, as a % of Equity

_{Source: Axios}

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Action Gap

Ever had a chat with a doc about the hardest part of their job? You'd probably guess it's dealing with the stress or high stakes, right? Actually, nope. You'd be surprised. The biggest challenge? Simply getting their patients to follow their advice.

One doctor I spoke to told me a huge part of the job is actually managing people, not just tackling their illnesses. She made it clear: there's a world of difference between being an expert in medicine and being an expert in healthcare.

We're living in a strange world where the answers to our problems are often pretty straightforward, but getting people to act on those simple solutions is a mission in itself.

This issue spills over into every aspect of life, from health to relationships to careers. It's a tricky reminder that, in our fast-paced world, we're often much better at collecting information than we are at applying it wisely.

_{MEME-A-PALOOZA}

Memes of the Day