Key Themes

Citigroup Faces Regulatory Issues
Regulators found a data quality shortcoming in Citigroup’s resolution plan, necessitating further improvements, while plans from other major banks like JPMorgan and Goldman Sachs passed without deficiencies.

Tesla Workforce Reduction
Tesla has downsized its workforce by 14% this year, aiming to streamline operations and enhance efficiency amid industry changes.

Challenges of the ‘No Spend Month’
The popular “No Spend Month” savings challenge can cause stress and is not a long-term solution for financial health. Experts recommend a balanced approach to budgeting.

Analysis

Wall Street’s massive OPEX expiration of options not only left stock traders more cautious, it also drove one of the leaders of the bull market to a rollercoaster ride. NVDA suffered one of the worst drops in the last few months. The value of contracts tied to the chipmaker due Friday was the second largest of any
underlying asset, lagging only the SPX. The expiration coincided also withthe index rebalancing by S&P Dow Jones.