Happy morning, Munchers! 🙏

As always, here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 4 minutes and 51 seconds.

That's less time than it takes for the Twitter takeover to put some pressure on banks, Uber to drive itself upward, and Johnson & Johnson to throw their $$$ around. 🔥

Let’s dive in.

What’s hot, what’s not?

Market Commentary

• JP Morgan is spying a wild interest rate meeting - they said that the SP500 could shoot up 10% if the Fed hikes by 50bps vs. the 75bps expected.

• IT and metal stocks carried Indian markets to a short-term high. Seems like the dead cat bounce is in full swing. 🐈

• An upbeat US job market report cemented a few concerns of rate hikes, pushing markets slightly into the red.

Story Roundup

1 - Freeing the bird is burdening the banks. 🕊️

The cost of doing business with Elon Musk seems to be pretty hefty. 

Banks like Morgan Stanley, Bank of America, and Barclays have said that they will be left holding about $13bn of debt from Mr. Musk's Twitter takeover. 

They're ready to hold this debt until next year, and it's all down to one big reason.

No one knows where Elon's trying to take Twitter.

The bankers on the Twitter deal are praying for some market stability so that they don't take a big loss on this debt - which could stretch up to a billion dollars. 

Big, big money. 💸

2 - Fearless Fed sparks some recession fears. 📉

Economists are yet again sounding the alarm bells over an incoming American recession. 

As the US Fed convenes this week to set the stage for the world, all eyeballs are on their decision. 

Inflation across the world is getting hotter and hotter - in most cases a structural problem than a transitory one. 

Economists reckon that the Fed could ratchet rates up to 5.5%. This means that if a recession does happen, it'll be a deep one. 

Red-hot. 🥵

3 - Uber takes a road trip to profitability. 🏎️

It's been a long decade for Uber's investors. 

The taxi company has burnt through $25bn since it's birth, but their bets are finally reaping dividends. 

Uber announced their second straight cash-flow positive quarter, and cut net losses in half. 

Their favorite measure of profitability - adjusted earnings - also beat expectations, weighing in at $516mn compared to $8mn a year back. 

Profitability seems to be on the doorstep.

It looks like inflation is barely fazing the average Uber rider. People gotta get places... 🚕

4 - Johnson & Johnson splashes some heart-pounding cash. ❤️

The guys that make your baby powder are taking a dip into heart pump products - for an amount of cash that will give you a heart attack. 

JnJ is acquiring cardiovascular innovator Abiomed for a whopping $16.6 billion. 

They're gonna use their expertise to strengthen their current heart products portfolio, and try to mark themselves out from the others as a market leader. 

Abiomed makes heart pumps - machines that help treat heart failure and artery disease. 

Health is a big business. 🧑‍⚕️

5 - The big boys pick up a 4-day work week. 😴

They say work hard, and play hard. 

Unilever is now giving it's workers the opportunity to do just that. 

The makers of Dove soap and Hellmans' mayonnaise have found out that letting workers spend 4 days in the office yields more to the employer than a 5 day workweek. 

Time is money, and giving employees another day of weekend bliss seems to be working well.

Parkinson's law is in full swing here - work expands to fill the time you assign to it. ⌚

A few nibbles from DexStar🍪

DexStar is Dubai's hottest DeFi app - fusing real-world sustainable projects with crypto natives around the globe. 

They're making waves in two ways. - Sustainable project owners are able to hop onto DexStar and borrow from their lending ecosystem.- Crypto HODLers can diversify their portfolios (and make an impact on the world!) by lending to real, sustainable businesses.

If you're a lender, you put your crypto into DexStar's debt vaults. Each debt vault has a different theme, based on a different sustainable energy strategy. And your money's in the safest of hands - the guys that run these debt vaults are run by people that have real world experience. They know what they're doing. 🤷

You can check them out here, and join their Telegram chat here.

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