Hala,
🎬 Stranger Things Season 5 has finally wrapped filming! See you in 2025 — because crafting the Upside Down apparently takes longer than building the pyramids.(1) 🏗️👾 😅
📉 Stocks rebounded Friday as the Dow surged nearly 500 points on cooler inflation data, but it still closed the week at 42840, down 2.25%. The S&P 500 ended at 5930.85 (-1.99%), and the Nasdaq 100 slipped to 21289 (-2.25%) — marking a tough week for all.(2) 💹
🌍 Gulf stock markets were mostly subdued on Sunday, as worries over fewer U.S. Federal Reserve rate cuts next year loomed, though cooler-than-expected inflation data helped limit the losses.(3) 🕌
amana’s Take
- Gold prices hover near $2,630, torn between geopolitical tension boosting its safe-haven allure and a cooling US dollar offering modest support. It’s the classic “push me, pull you” dilemma for the yellow metal.
- The Fed’s hawkish tone on delaying rate cuts has pushed US Treasury yields higher, keeping gold’s gains in check. After all, who needs a shiny, non-yielding rock when bonds are stealing the spotlight?
- Equity market optimism and slowing income growth add to the confusion, with traders eyeing the US Consumer Confidence Index for clarity. For now, gold’s stuck playing the safe-haven card while waiting for a clearer hand.
🤖🎁 Scammers’ AI Toolbox Is Stealing the Show!
According to the Wall Street Journal, AI has morphed into the biggest Grinch, turning the holidays into a virtual minefield for shoppers. This Grinch-level tech isn’t just stealing Christmas — it’s cleaning out wallets, one scam at a time. From fake deals to stolen identities, AI is helping fraudsters target more victims than ever, and the numbers are scarier than a Black Friday mob. The Federal Trade Commission says U.S. shoppers have lost $8.7 billion to fraud in Q3, a 14.5% increase from the same period a year ago.(4)🎄💸
🎄💸 Fraudster Favorites This Season:
- Phony shopping sites: Deals too good to be true are often just that.
- AI-generated deepfakes: Fake licenses, passports, and even “selfie” videos.
- Mass text phishing: Robo-texts offering bogus freebies or discounts.
- Stolen credit card testing: Using AI to run stolen numbers lightning-fast.
- Counterfeit ads: Clicking that “50% off” advent calendar ad? Think twice.
🛑🧠 Be Smarter Than the Scammers
AI may be running circles around old fraud detection tools, but banks and credit card companies are catching up. Visa, Mastercard, and others are ramping up their AI-driven defenses, while experts like JPMorgan Chase are doubling down on consumer education. Still, folks like Michael Maestranzi, who fell for a fake Macy’s website, prove that vigilance is key. Don’t let AI play you like a Christmas carol — stay alert, and if something feels off, trust your instincts. 🎅🔒
Closer to Home
- 📉 ADNOC Distribution CFO Wayne Beifus has resigned after two years, citing personal reasons, leaving Ali Siddiqi to wear two hats as interim CFO and SVP. Talk about a “filling” job!(5)⛽
- 💰 UAE indirect taxes generate between AED 10–11 billion annually, a hefty chunk of the AED 65 billion federal budget. That’s enough to make anyone say, “Tax me later!”(6) ☕
- 🌍 Iraq is the UAE’s top trading partner with $27 billion in annual trade. That’s a lot of business — and probably a few “tea and handshake” deals along the way!(7)🫖
What Else Is Trending
- ☕️ Starbucks baristas are stirring things up, expanding their strike to four more cities, including New York, and closing cafes from L.A. to St. Louis. Looks like the only thing brewing right now is worker solidarity!(8)🛑
- 📉 The euro-area economy isn’t shifting out of low gear anytime soon, with analysts now forecasting just 1% growth in 2025 — down from earlier hopes of 1.2%. The bright spot in the area? 🇪🇸 Spain might just have a little extra juice in the tank.(9) 🚗
- 🚗 Volkswagen struck a deal to avoid plant closures in Germany, but over 35,000 jobs will still be cut “responsibly” by 2030 to save €15 billion. Looks like even “responsible” downsizing comes with a hefty price tag!(10) 💸
💬Quote of the Day
“It is absolutely a golden age for fraud and fraudsters.” — Michael Jabbara, Global Head of Fraud Services, Visa
Build your plan: https://amana.app/campaigns/amanainvest
Sources: (1) Variety, (2) CNBC, (3) Reuters, (4) The Wall Street Journal, (5)(6)(7) Zawya, (8) Reuters, (9) BNN Bloomberg, (10) Bloomberg
