ISRAEL GOES TO WAR AGAINST HAMAS

On Saturday morning, Hamas, executed an unexpected and large-scale assault on Israel. Thousands of rockets were fired, and numerous Hamas combatants breached the heavily defended border from various routes - by air, land, and sea. Israeli officials confirmed early on Monday that more than 700 Israeli civilians and members of the military had been killed. Another 2,150 were wounded. Several US citizens have been killed in the attacks.

OIL PRICES SURGE

Oil prices spiked following the unexpected assault on Israel by Hamas, leading to heightened tensions in the Middle East. US crude futures saw a spike of up to 5.4% overnight, momentarily exceeding $87 per barrel. Following the attacks, the market experienced an added wave of unpredictability, building on significant swings observed over the past month. In late September, Brent appeared poised to approach $100 a barrel due to supply cuts from Saudi Arabia and Russia. However, it then declined steeply last week as worries over consumption and a possible global recession.

GRIT TAKE: Israel doesn't play a significant part in the worldwide oil supply, however, the conflict will more than likely put Iran and USA at odds. This year, Iran has emerged as a vital contributor of additional crude oil, helping to ease markets that were otherwise becoming constrained due to supply cuts from Saudi Arabia and Russia. US sanctions on Tehran might limit those deliveries which has the potential to cause oil markets to keep rising.

4,000 MORE UAW WORKERS STRIKE

Approximately 4,000 members of the United Auto Workers at Mack Trucks plan to go on strike on Monday, having turned down a provisional agreement. This is the most recent conflict between the union and automobile manufacturers. The decision to strike against Mack Trucks, a subsidiary of Sweden's Volvo AB, marks a new chapter in UAW's battle for improved wages and working conditions.

Headlines You Need To Know:

• Major airlines halt flights to and from Israel

• Iran helped plot attack against Israel

• Why now might be the time to own corporate bonds

• Investors hope earnings season will revive stocks

• The free-money experiment is now over

• How NYC plans to spend $15 billion

• The stunning boom and bust of the Tax Refund Kind

• UAW says 4,000 more workers will strike

Just for fun…

Mark Cuban’s HUGE fear saved him billions

In 1998, Mark Cuban sold broadcast.com which was a multimedia company that focused on streaming audio and video for $5.7 billion by Yahoo. In the sale, Cuban received 14.6 million shares of Yahoo trading at $95 a share for a market value of $1.4 billion. Cuban had a massive-fear that the internet stocks were in a bubble so he setup a costless options collar. This allowed him to protect his billions without paying any insurance premium but he wouldn’t gain much upside, if the stock were to soar upwards. After Cuban’s trade was entered, Yahoo stock exploded to $237 which would have driven his networth to over $3 billion. However, days after reaching the peak, the internet bubble burst and Yahoo’s stock went all the way down to $13. This was a horrific day for people who left their fortunes in internet stocks.This made Cuban’s trade a stroke of genius and a great risk management trade. Cuban was able to leave the internet bubble with 90% of his net-worth which is huge considering some people lost their entire fortune.

Chart Of The Day

Extra Savings Run Out

Extra savings have run out for most US households.

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