1. Apple Underperforming Mag 7
Bloomberg
2. Old Tech Rally…CSCO Up Since November
StockCharts
3. Old Tech… Intel +20% Year To Date
4. Old Tech….IBM +18% YTD
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5. Robinhood +438% One-Year…Crypto and Options Trading Lead
StockCharts
6. Ethereum -25% YTD….Gives Back All Post-Election Gains
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7. High Flyer…Trade Desk TTD -42% from Highs
StockCharts
8. Russia Outspends All of EU Combined on Defense
Semafor
9. Wall Street’s digital lifelines: How severed undersea cables could be a big problem for the global financial system
With $10 trillion at stake daily, the mysterious undersea cable breaks add another threat that financial services players must protect themselves against. ·
There have been a series of mysterious incidents of severed undersea cables.
Damage to undersea cables could negatively impact the global financial ecosystem.
Security and policy experts say what it could mean for finance firms and how to mitigate the risk.
While much of banking and trading seems to have gone digital, the global financial system still depends on a vast network of undersea cables that crisscross the sea floor. Carrying $10 trillion worth of transactions every day and powering Wall Street’s global trading and communications, these cables have had little mainstream attention as they lay deep in the world’s oceans for decades quietly serving their purpose.
But now these cables, many no thicker than a garden hose, are at the center of a series of mysterious incidents that have Wall Street security leaders and consultants on high alert.
Tankers dragging their anchors have severed undersea cables in recent months in the Baltic Sea and East China Sea. Officials in Europe accuse Russia of sabotaging the infrastructure, while Taiwan has said it suspects China is behind the damage off of its northern shores. The cables are part of a network spanning about 745,000 miles that transmits 95% of the world’s data. The snap of a few subsea cables has knocked islands the size of Taiwan offline, cutting off access to communications, internet, and banking.
Business Insider
10. YouTube MBA
Matt Grey