News from johnpatrick.com

Space

SpaceX Dragon is launching a big science haul to the International Space Station for research on astronaut health, plant stress, and more. The ISS is getting old. It is still safe but it gets an occasional air leak and probably other issues we don’t hear about. Two private space companies are gearing up to produce replacement space stations. NASA has converted itself to rely more on private companies like SpaceX and quite a few others.

Wall Street

The MAGFA stocks gained 2%. Microsoft was down slightly from a lofty level. Apple was flat. Google, Facebook, and Amazon had nice gains. were mostly flat again, although Microsoft had a nice gain. In the other tech category they were all up. Tesla is now at $705 billion market cap. Investors are viewing it as a tech company, not a car company. I just my third Model S and it is definitely high tech.

Crypto

Crypto had a pullback of nearly $400 billion in market cap. Bitcoin and Ethereum were flat but the rest of the 11,000+ cryptos lost 48%. This is exactly what I have been predicting. Bitcoin, Ethernet, and a handful of others are serious crypto. Most of the rest is not going anywhere in my opinion. Jerome Powell, in a speech at Jackson Hole, said that Bitcoin is a substitute for gold. Crypto is getting taken more seriously by the day.