Happy morning, Munchers! 🙏

Here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 4 minutes and 53 seconds.

That's less time than it takes for UK's fresh PM to raise the red alarm on the economy, Adidas to lose 10% of their revenue, and Germany to fumble a $145bn bag. 🔥

Let’s dive in.

What’s hot, what’s not?

Market Commentary

• West Texas gas prices fell below zero as production levels surged. 💀

• China's markets have given back all gains made since 2008. Need I say more?

• The bear market rally seems to be in full force as US stocks jumped yet again.

Story Roundup

1 - Rishi Sunak raises the red flag for the UK economy. 🔥 

The UK's just got their 3rd PM in 2 months. 

And it looks like this one actually knows what's going on with the economy. 

Rishi Sunak said that he would "prioritise economic stability and confidence" in light of the "profound economic crisis" facing the UK. 

This kicks off with a debt-cutting plan that will help tie up the loose ends from Liz Truss's horrifying stint as PM. 

We've got the right guy. Or so it seems. 🤔

2 - Germany looks set to lose it's biggest company. 💔

Germany's $145bn crown jewel may delist from it's stock exchange. 

Gas manufacturer Linde said that they might get off the Frankfurt Stock Exchange after some "consideration and analysis". 

They want to delist because dual listing in both New York and Frankfurt seems to be hurting the company. 

Their issue is with rules limiting the weight of DAX components to a max of 10%.

So when their shares outperform the index, index funds are forced to sell off their Linde shares. 

Can't blame them for chasing the bag. 💰

3 - Coca Cola zooms ahead after some upbeat earnings. 🥤

Coca Cola had a bumper quarter. 

Their two-pronged strategy of hiking prices and offering cheaper products is working. And it's working wonders. 

Revenue clocked in at $11.05bn which was 6.5% more than expected, and profits beat estimates by a similar amount. 

They also grew their market share - which shows that Coca Cola is showing some resilience. 

Management has upped their year-end profit estimate by 10%. 

Fizzy. 🥵

4 - Indian consumers power through the Diwali season. 💸

Festive mood has caught on to Indian retailers. 

They're currently enjoying a profit party, buoyed by the Indian holiday season. 

Ecommerce businesses are reporting a 25% spike in their order volumes as people flock to their sites to scoop some gifts for their loved ones. 

It's also a good day to be an auto maker - India's biggest vehicle manufacturer has marked a 57% jump in new vehicle orders.

Snack makers are also witnessing some interesting trends. Higher volumes are coming in from rural areas and gift packs are flying off shelves, propping up bottom lines while doing so.

Interesting times. 🚀

5 - Adidas severs Kanye West collabs after some racist remarks. 🤬

Adidas is willing to lose $250mn in it's stance against hate speech. 

They just cut ties with rapper Kanye West. That means no more Yeezy's.

This happened because Kanye decided to tweet some anti-Semitic stuff, causing the cancel culture hammer to come down firmly. 

Irony always bites - he just said in a recent interview that he could "say anti-Semitic things and Adidas wouldn't drop me". 

Adidas will lose about $250mn in revenue from Yeezy's - which was also one of their most profitable segments, and is responsible for ~10% of their annual revenue. 

Man. 💀

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Hope you enjoyed this issue of the Market Munch. If you've got any feedback - good or bad (😏) you can hit reply to this email. Thanks a ton for reading!

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Cheers, and have a lovely day. 🙏

Aryaansh