The Soft Landing ✈

The stock market has been performing strongly in 2023, but that didn't stop investors from enjoying the Labor Day long weekend, with the U.S. market closed on September 4th. The Dow Jones Industrial Average has gained 11% this year, the S&P 500 has climbed 15%, and the Nasdaq Composite is up by 21%. Notably, tech stocks like Nvidia (NVDA) and Meta Platforms (META) have been leading the charge as investors bet on the future of artificial intelligence.

Here's what else is happening in the world of business:

1. UBS Expresses Caution: UBS anticipates 'clear signs of slowing' for the U.S. economy by November's FOMC meeting. The bank maintains its view of a 'softish' landing for the U.S. economy, noting that August posed challenges for investors due to contradictory economic data and shifting expectations around Fed policy.

2. Billionaire from Noodle Chain: Takaya Awata, the founder and CEO of Toridoll Holdings, a Tokyo-listed company known for its udon noodle restaurants, has become a billionaire. Toridoll's shares surged as people resumed dining out post-pandemic, and Awata's 48% stake is now worth $1.1 billion.

3. Crypto Casino Stake Targeted: Cryptocurrency casino Stake appears to have suffered an exploit, resulting in a reported $40 million loss. The exploit led to significant withdrawals on the Ethereum network, Polygon, and the Binance Smart Chain.

4. Jill Biden Tests Positive for COVID: U.S. First Lady Jill Biden has tested positive for Covid-19, while President Joe Biden tested negative. This comes just before the President's planned travel to a Group of 20 summit in India.

5. Fidelity's Retirement Savings Guidelines: Fidelity has outlined retirement savings milestones, recommending that by age 30, you should have saved at least 1x your annual salary. The goal is to reach 10x your salary by age 67.

6. Most and Least Expensive States for Singles: Rising prices for essentials have impacted Americans. Consumer inflation has risen by 3.2% over the past year through July, affecting the cost of living in different states.

   5 Most Expensive states and wages needed:

   - Hawaii — $108,847

   - Massachusetts — $84,520

   - California — $76, 810

   - New York — $70,081

   - Alaska — $67,061

   5 Least expensive states for singles to live in:

   - Oklahoma

   - Alabama

   - Kansas

   - Arkansas

NEW SEGMENT: INTERNATIONAL REAL ESTATE

Today we are taking look at Circle Creek Estate in Simpsonvilla, South Carolina United States. It can be yours for a cool USD 22 million! You can also brag that you just bought the most expensive residential listing in South Carolina.

The 16,000 sqft property sits on 54 acres against the foothills of South Carolina’s Blue Ridge Mountains. The property has 6 bedrooms along with world class equestrian amenities which include 3 riding arenas and 12 stall barn. The property also has a home theatre, gym, elevator, outdoor kitchen, jacuzzi, steam room and lower level pub.

The listing is by Christie’s International Real Estate, more details can be found on their website.