Ferrari Unveils the F80: A Supercar for the Ages
In a move that’s sure to get car enthusiasts’ hearts racing, Ferrari has unveiled its first supercar in over a decade. The F80 is a marvel of engineering, boasting a twin-turbocharged 3.0-liter V6 engine and numerous electric motors that give it an astonishing 1,184 horsepower.
Speed Demon
The F80 accelerates from 0-62 mph in just 2.15 seconds and can reach speeds of up to 218 miles per hour. Its impressive specs have already generated significant buzz, with the order book for the limited-edition model already full despite a hefty price tag of $3.9 million.
A History of Excellence
Ferrari has a long history of using its supercars to elevate the brand on a global scale. With the F80, the company is hoping to make history once again. “It’s a car we hope would make history in coming years,” says Chief Marketing and Commercial Officer Enrico Galliera.
Market Watch
Ferrari’s stock has been performing well, up over 40% this year. The company will release earnings on November 5 and has topped both revenue and EPS estimates in four straight quarters.
Macro Trends
Meanwhile, Treasury yields continue to rise, with the 10-year yield approaching 4.2%. The Conference Board’s September Leading Indicator Index dipped -0.5% month-over-month, with weakness in factory new orders and building permits contributing to the decline.
China Cuts Rates
In a move aimed at stimulating economic growth, the People’s Bank of China cut its one-year loan prime rate by 25 basis points to 3.10%. This is the second time the PBOC has lowered its one-year LPR rate.
Expert Insights
David Laut, chief investment officer at Abound Financial, notes that the stock market is bucking historical trends with remarkably little volatility so far this month. “While there are plenty of reasons why stocks should be choppy, from election uncertainty to rising geopolitical tensions, the stock market is overlooking all of these worries as it’s become clear that a soft landing is upon us,” he says.
Active Stocks
Spirit Airlines is rallying over 40% after announcing a debt-refinancing extension with its credit card processor. Boeing is also up after reaching a tentative agreement with its machinists union to end a five-week strike.
Partnerships and Collaborations
Bright Minds Biosciences has partnered with Firefly Neuroscience to analyze EEG data for a mid-stage receptor agonist study. Lumen Technologies and Meta have announced a partnership to increase Meta’s network capacity and help drive its AI ambitions.
Wall Street Research Corner
Goldman Sachs is predicting a lost decade for stocks, with the S&P 500 expected to see just a 3% annualized return over the next 10 years. This is half the consensus estimate of 6% and would rank in the seventh percentile of 10-year returns since 1930.
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