Good Morning. This is the Investor Lookout with the daily digest to make you a smarter investor. (Keep an eye on the Lookout Watch to see how we’re doing!)

Here’s what we got today:

• 🤖 New AI Border With China

• 💊 Walmart Delivers Bitter Medicine To Rivals CVS and Walgreens

New AI Border With China

The Biden administration wants to end its term with a last hurrah. The Treasury Department is finishing rules to restrict U.S. bleeding-edge tech investments in China. The rules will apply to AI, semiconductors, and quantum computing investments. The new regulations will hit the streets before the November election. Index funds, mutual funds, and other public trading securities will likely be exempt. After the U.S.'s 2022 semiconductor export controls, this move is another step in the tech cold war between the superpowers.

• Mandatory notifications will be required for particular investments, and others will be banned.

• A 30-day implementation window is expected.

Walmart Delivers Bitter Medicine To Rivals CVS and Walgreens

Walmart ($WMT) is writing its own prescription for success. With the launch of a new prescription delivery service, Walmart will rival Amazon ($AMZN), CVS ($CVS), and Walgreens ($WBA). The service will launch in six states and expand to 49 states by January 2025. Same-day deliveries will be available, with some deliveries as quick as 30 minutes. Following the news announcement, CVS stocks fell by 2.1%, while Walgreens stocks experienced a decline of 6.8%. Health and wellness accounts for 12% of Walmart's annual US revenue.

• Delivery fee is $9.95 or free with a Walmart+ membership.

• Walmart covers 86% of U.S. households.

Markets

'New bullish phase'? Gold hits another high. Analysts say gold is in a "new bullish phase" as prices hit another all-time high. Analysts predict a $3,000 target, with upside driven by central bank buying, rising U.S. debt, and a potential U.S. dollar peak. [Read]

The IMF says that shifting to electric vehicles will have a far-reaching impact. IMF warns of the "far-reaching" effect of the EV transition. The International Monetary Fund reports that the shift will affect global investment, production, trade, and employment. [Read]

Bonds Slump Globally as Traders Rethink Fed's Rate Cut Path. Global bond markets fell as traders reassessed the Fed's rate cut timeline. US 10-year Treasury yields briefly topped 4.2%, while German and Australian bonds also saw significant yield increases. [Read]

Business

Walmart's relocation mandate just sent a Sam's Club executive rushing for the exit. Walmart-owned Sam's Club CTO Cheryl Anoa has announced her departure after refusing to relocate to Bentonville, Arkansas. This follows Walmart's May announcement requiring corporate employees to move to main hubs or face termination. [Read]

Hyundai Motor India's shares drop 7% on trading debut after record IPO. India's biggest IPO ever by amount raised ($3.3 billion) had a disappointing start, closing at 1,819 rupees ($21.63). The IPO price was 1,960 rupees ($22.18). Analysts said the IPO was already fully subscribed and priced in. [Read]

Reddit CEO says the platform is in an 'arms race' for AI training. He acknowledges that the platform's data is a prime candidate for AI training. The CEO emphasized that Reddit is discussing licensing deals with almost all AI players alongside preventing unauthorized scraping. [Read]

Lower-priced new cars are gaining popularity. AP

Bank of Israel voted 5-0 to hold rates at October decision. Investing.com

3M’s stock turns red as profit beat, but retail customers don’t bite. MarketWatch

‘Blade Runner 2049’ producer sues Tesla, for copyright infringement. MarketWatch

China's youth unemployment falls after climbing for two straight months. Investing.com

Russia pushes ‘new world order’ agenda. CNBC

The IRS unveils higher capital gains tax brackets for 2025. CNBC

Analysis-Investors flee thematic ETFs as stock benchmarks soar. Reuters

Oil scores back-to-back gains, but ‘bearish landscape’ remains. MarketWatch

EY axes workers who took multiple online training classes at the same time. Quartz

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.