We have just changed out branding! From now on we will be writing to you as Basepoint Labs.

Here is the outline for this week’s newsletter! Don’t miss out on what is going on this week!🔥

• What to know this week📅

• Half of the People in Turkey Now Own Crypto: Report✍

• 10 Growth stocks that are a bargain!🤑

What to know this week📅

📊 Market Performance:

• S&P 500: 4,515.77 (+0.18%)

• Dow 30: 34,837.71 (+0.33%)

• Nasdaq: 14,031.81 (-0.02%)

• Russell 2000: 1,920.83 (+1.11%)

• Crude Oil: $86.05 (+2.89%)

• Gold: $1,966.20 (+0.02%)

🔍 This Week's Focus: Fed in Focus as Earnings, Economic Calendars Slow

With a lighter economic calendar and a holiday-shortened week, investors are turning their attention to the Federal Reserve's next interest rate decision. Updates on the services sector, the Fed's Beige Book report, and a few corporate earnings will be the highlights of the week ahead.

Last week, stocks rallied after a month of declines. The Nasdaq Composite led the gains, rising more than 3%, while the S&P 500 gained 2.5% and the Dow Jones lagged, rising 1.4%.

📅 Economic Calendar:

• Wednesday: Service sector readings from S&P Global and the Institute for Supply Management, Fed's Beige Book

• Corporate earnings: Kroger (KR), GameStop (GME), Zscaler (ZS)

💼 Jobs Report and Fed Meeting:

The crucial August jobs report indicated a slowdown in the US labor market. The economy created 187,000 new jobs, but the unemployment rate unexpectedly rose to 3.8% as more Americans sought employment. This data suggests that the Fed will likely not raise rates at its September 19-20 policy meeting.

Markets are pricing in a 94% chance that the Fed will keep rates unchanged, up from 80% the prior week. Bets on another rate hike in November have also dropped.

Half of the People in Turkey Now Own Crypto: Report✍

Crypto adoption is on the rise in Turkey, according to a research survey conducted by KuCoin.

The survey revealed that over the past year and a half, adoption has increased from 40 percent to 52 percent of the Turkish population. This surge in adoption can be attributed to the country's high inflation rate, with the Turkish lira losing over 50% of its value against the US dollar.

KuCoin, the fifth largest crypto exchange in the world, collected this data based on the survey responses of 500 people.

The survey also revealed that the primary reason for investing in cryptocurrency among respondents was to accumulate wealth over the long term.

The report indicates that Bitcoin is the most popular cryptocurrency among Turkish investors, with 71 percent owning it. Ethereum and other stablecoins follow closely behind, with 45 percent ownership. Interestingly, the survey also found that young women in Turkey are increasingly investing in crypto, with 47 percent of crypto investors between the ages of 18 and 30 being female.

Turkey is not the only country experiencing high crypto adoption due to rapid inflation. Previous reports from KuCoin have shown similar trends in Brazil and Nigeria.

The growing interest and acceptance of crypto as a hedge against inflation in countries like Turkey highlight the need for a comprehensive understanding of the crypto community.

As the crypto environment continues to evolve, understanding the actions, inclinations, and driving forces of crypto users across various regions becomes increasingly essential.

10 Growth stocks that are a bargain!🤑

These stocks have low price-to-earnings (P/E) ratios, pass FTSE Russell's growth screens, and are favored by analysts.

Here are the 10 stocks:

1. Delta Air Lines Inc. (DAL): This stock has a forward P/E ratio of 6.0 and is rated as a buy by 95% of analysts. The current price is $43.77, with a consensus price target of $61.11, indicating a 40% potential upside.

2. Cheniere Energy Inc. (LNG): With a forward P/E ratio of 9.0, this stock is also rated as a buy by 95% of analysts. The current price is $163.70, and the consensus price target is $199.39, suggesting a 22% potential upside.

3. Nexstar Media Group Inc. (NXST): This stock has a forward P/E ratio of 7.3 and is rated as a buy by 90% of analysts. The current price is $164.62, with a consensus price target of $212.56, indicating a 29% potential upside.

4. Vistra Corp. (VST): With a forward P/E ratio of 8.2, this stock is rated as a buy by 89% of analysts. The current price is $30.42, and the consensus price target is $35.50, suggesting a 17% potential upside.

5. Jazz Pharmaceuticals PLC (JAZZ): This stock has a forward P/E ratio of 7.3 and is rated as a buy by 88% of analysts. The current price is $143.71, with a consensus price target of $201.06, indicating a 40% potential upside.

6. First Citizens BancShares Inc. Class A (FCNCA): With a forward P/E ratio of 8.0, this stock is rated as a buy by 86% of analysts. The current price is $1,392.37, and the consensus price target is $1,752.14, suggesting a 26% potential upside.

7. Graphic Packaging Holding Co. (GPK): This stock has a forward P/E ratio of 7.8 and is rated as a buy by 83% of analysts. The current price is $22.25, with a consensus price target of $30.00, indicating a 35% potential upside.

8. Everest Group Ltd. (EG): With a forward P/E ratio of 6.6, this stock is rated as a buy by 77% of analysts. The current price is $359.85, and the consensus price target is $428.18, suggesting a 19% potential upside.

9. Brunswick Corp. (BC): This stock has a forward P/E ratio of 7.9 and is rated as a buy by 76% of analysts. The current price is $82.14, with a consensus price target of $100.77, indicating a 23% potential upside.

10. New Fortress Energy LLC Class A (NFE): With a forward P/E ratio of 6.9, this stock is rated as a buy by 75% of analysts. The current price is $30.09, and the consensus price target is $46.90, suggesting a 56% potential upside.

✨Bonus News✨

Disclaimer: This is not any kind of financial advise. This newsletter is solely informational; it does not constitute investment advice, a solicitation to buy or sell any securities, or a recommendation regarding how to manage your money. Be cautious and conduct your own study, please.