September 29, 2021

Today's Topics

Hi, we've got 3 charts for you today:

  • Stocks. They fell 2%+ yesterday, as inflation worries mount.
  • TikTok. The Chinese social media app just hit one billion users.
  • Oil. Speaking of inflation... oil is getting more expensive.
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Stock markets around the world did something quite unusual for 2021 yesterday — they fell more than 2% in value. For US stocks (S&P 500 index) that's something they haven't done for almost 5 months.

Inflation in the air

If we ran this chart last week (stocks fell 1.7% last Monday) we'd have probably blamed the unfolding crisis at Evergrande, the heavily indebted Chinese real estate developer. This week the ghost at the feast getting most of the blame is inflation — as investors position for the possibility that interest rates might not be just above zero forever (*gasp*).

Easy easing

Central banks around the world increasingly look like they're going to take action on inflation, with subtle hints and language that can be infuriatingly vague for onlookers. If, or rather when, central banks decide to change the music, it's likely to come via higher interest rates or a tapering down of the enormous stimulus packages that many have implemented in recent years. In the US that's the $120bn-a-month bond purchases that are currently in place.

Zooming out: One bad day doesn't mean too much. US stocks are still up almost 20% this year.

TikTok has officially entered the big leagues of the world of social media, announcing this week that the company has hit one billion monthly active users.

Tick Tock

With its initial release in September 2016, TikTok's announcement means that it has taken the app just over 5 years to hit the 10-figure club. That's significantly quicker than it took Facebook (8.7 years), WhatsApp (6.2 years), Instagram (7.7 years) and YouTube (8.1 years) to get to the same milestone.

In fact, the only platform that technically reached the milestone faster than TikTok is Facebook Messenger — which obviously had an enormous leg up from the main Facebook platform, which constantly recommended users download the app.

Faster, forever?

If the current trend continues, the data suggests a platform started today could reach the billion mark in just 3 or 4 years as tech adoption cycles continue to get faster. But just how many compelling social media mechanics are left to be discovered?

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This week the price of WTI Crude Oil hit $75, which is a far cry from the freak day of negative prices that occurred less than 18 months ago, when you could have theoretically been paid $37 to take delivery of a barrel of oil, as storage shortages froze the market.

Oil spill

Oil's been getting more expensive this week for a number of reasons. Firstly, the natural gas crisis in Europe (which we wrote about last week) has been spilling over into other energy markets. As an alternative source of power generation oil has been a little more in demand, as gas prices have soared.

There have also been some supply disruptions from Hurricane Ida and a global economy that is slowly getting back to travelling and transporting at its usual volume. Put all of that together and you get oil prices at a 3-year high.

MORE DATA

1) Netflix has released data (usually a closely guarded secret) on its most watched shows and series of all time. Regency drama Bridgerton came top.

2) Searches for "petrol station near me" and "jerry can" have spiked in the UK, as petrol shortages — or just the threat of shortages — have seen long queues at service stations for fuel. The British Army may now be brought in to help deliver fuel across the country.

3) There are reportedly enough empty apartments in China to house 90 million people. That's more than 3x the population of Australia.

4) Breathable, moisture-wicking dress shirts that look and feel amazing? 30,000 five-star reviews can't be wrong, check out Mizzen+Main.**

5) Beethoven's unfinished 10th symphony has been "finished" using AI and the fragments of musical sketches he left behind. The symphony will debut in October.

6) Canada Goose, famous for its winter jackets and infamous for its... winter jackets, has moved into footwear, debuting a boot that'll set you back more than $1,000.

**This is sponsored content.

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