Wall Street’s 1% Decline Amid Rising Interest Rates

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On a challenging Tuesday, major U.S. stock indices faced a formidable adversary, with declines of more than 1% due to rising interest rates. This downturn was largely instigated by the surge in 10-year Treasury yields, which reached multi-year highs. As a result, investors found themselves grappling with the prospect of enduring high-interest rates and the potential economic ramifications.

Dow Jones Sees a One-Day Drop

The Dow Jones Industrial Average bore the brunt of this market turbulence, witnessing its most substantial one-day percentage decline since March. It tumbled by a staggering 388.00 points, constituting a 1.14% drop, to close at 33,618.88. Meanwhile, the S&P 500 wasn’t spared either, as it lost 63.91 points, marking a 1.47% decrease, concluding at 4,273.53. Similarly, the Nasdaq Composite experienced a significant decline, plummeting by 207.71 points, or 1.57%, to end the day at 13,063.61.

Market Reacts to Economic Concerns and Government Shutdown Threat

The market dropped significantly because interest rates surged, worrying investors about the cost of borrowing for people and businesses, which might slow the economy. Adding to the unease, there’s a looming threat of a partial government shutdown in the United States, which a major ratings agency, Moody’s, warned could harm the country’s credit rating, creating further uncertainty for the market.

Wall Street leaders remain skeptical about stock performance given high interest rates

Market Reacts to Economic Concerns and Government Shutdown Threat

The sudden surge in 10-year Treasury yields, driven by the Federal Reserve’s shift to a more hawkish long-term rate outlook, has left investors adjusting to the prospect of enduring high-interest rates. This adjustment has injected a wave of uncertainty into the market, with concerns about how various sectors and assets may be affected.

Notably, the technology sector saw a 1.8% decline, reflecting worries about its susceptibility to higher rates, while rate-sensitive sectors like utilities and real estate experienced declines of 3.05% and 1.8%. This heightened market uncertainty is underscored by the CBOE Volatility Index (VIX), reaching its highest level since May 25, signifying heightened investor apprehension amid the challenges posed by rising interest rates.

Immunovant’s Surging Shares Amidst Market Turmoil

Despite the prevailing market turbulence, there were exceptions. Immunovant, a biopharmaceutical company, witnessed its shares soar by an astounding 97%. This remarkable surge was a response to promising early-stage data from the company’s experimental antibody treatment, which exceeded analysts’ expectations. This example serves as a reminder that even in tumultuous times, opportunities for growth and innovation can still emerge.

In summary, the U.S. stock market faced a significant challenge with declines of more than 1%, driven primarily by concerns about rising interest rates and the economic challenges they may bring. As investors closely monitor various economic indicators and government actions, the market remains in a state of flux, with uncertainties about its future direction prevailing.

Read More: Fed Can’t Disregard Another Inflation Head Fake

U.S. stock futures surge amid cautious trading as Thanksgiving approaches

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U.S. stock futures surge amid cautious trading – Stock futures in the United States rise as traders look for new range-breaking catalysts. What is stock-index futures trading? S&P 500 futures E00, 0.2% rose 10 point, or 0.2% to 3968 Dow Jones Industrial Average futures HTML 00, 0.20% increased 77 points or 0.2% to 33812 Futures NQ00 on Nasdaq 100, 0.17% rose 28 points, or 0.2% to 11616 Monday’s…

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I’m sorry but you can’t cry “human rights violation!!!!” when you are actively carrying out a campaign of genocide.

Honestly I really don't view Alfred as being especially wealthy compared to any of the other nations. The country he represents has a lot of money sure, but he's a government bureaucrat with the same union contract and dental insurance as any other government bureaucrat.

WaPo's Big Brain advice for student protests: Buy U.S. defense contractor stocks then change them from the inside!

A crowd in front of the New York Stock Exchange on Wall Street, February 18, 1935, just after the U.S. Supreme Court announced its long-awaited gold clause decision. Stocks rose after announcement.

As part of the New Deal program to conserve gold reserves during the Depression, Congress in 1933 abrogated clauses in contracts stipulating payment in gold dollars as valued at the time a contract was made. That meant that such obligations could be paid in now-devalued currency. The Court sustained the power of Congress to regulate the monetary system. Enforcement of the gold clauses would have affected the depressed national economy badly.

Photo: JF for the Associated Press via NYPL

n2_w1150 by Biodiversity Heritage Library Via Flickr: The new guide to rose culture :. West Grove, Pa. :The Dingee & Conard Co.,1887.. biodiversitylibrary.org/page/43827994

做投資要取得成就，不取決於你的天賦高低，而取決於你是否有良好的習慣

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一個合格的投資人，最重要的特質是性格而不是智力，在投資這個事情上，我們不需要比別人更聰明，但是，我們必須要比別人更有自制力。 之所以很多人炒股票會虧錢，是因為大多數人根本沒有所謂的投資紀律、投資原則、投資模型，就算有了紀律，也很難遵守，很難克服人性的恐懼和貪婪， 分享一段親身經歷給各位迷茫的股友們🤝

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Bitcoin hits US$50K for 1st time since 2021. What’s behind the surge

Bitcoin BTC= hit the $50,000 level for the first time in more than two years as the world’s largest cryptocurrency was buoyed by expectations of interest rate cuts later this year and last month’s regulatory nod for U.S. exchange-traded funds designed to track its price.

The cryptocurrency has risen 16.3 per cent so far this year, on Monday touching its highest since Dec. 27, 2021. At 12:56 p.m. EST (1756 GMT), bitcoin was up 4.96 per cent on the day at $49,899, having oscillated around the $50,000 level. “$50,000 is a significant milestone for bitcoin after the launch of spot ETFs last month not only failed to elicit a move above this key psychological level but led to a 20 per cent sell-off,” said Antoni Trenchev, co-founder of crypto lending platform Nexo. Crypto stocks also enjoyed a boost on Monday, with crypto exchange Coinbase COIN.O up 4.9 per cent and crypto miners Riot Platforms RIOT.O and Marathon Digital MARA.O up 10.8 per cent and 11.9 per cent, respectively. Shares of software firm MicroStrategy MSTR.O — a notable buyer of bitcoin — were up 10.2 per cent. The price of ether, the second-largest cryptocurrency, was up 4.12 per cent at $2,607.57. Global stock indexes also edged higher on Monday, as traders looked for cues on when the U.S. Federal Reserve might begin cutting interest rates. Analysts and financial market expectations both point to May as a potential start for rate cuts this year.

ETF exuberance

The primary driver behind bitcoin’s recent price appreciation “can be attributed to the increased inflow into BTC spot ETFs,” said Matteo Greco, a research analyst at fintech investment firm Fineqia International, in a research note. The U.S. securities regulator on Jan. 10 approved the first U.S. spot bitcoin ETFs, a watershed for the world’s largest cryptocurrency and the broader crypto industry, which had been trying to bring such a product to market for more than a decade. Greco in particular noted that outflows from Grayscale Investment’s Grayscale Bitcoin Trust GBTC.P — which received approval from the U.S. Securities and Exchange Commission (SEC)in January to convert to an ETF — have begun to slow. “While GBTC recorded a cumulative outflow of $415 million last week, representing a significant reduction from previous weeks, BTC Spot ETFs saw a total net inflow of about $1.2 billion during the same period, marking the highest weekly inflow since their launch,” he said. Analysts at Bernstein have estimated that flows into the new ETFs will build up gradually to cross $10 billion in 2024, while Standard Chartered analysts have said the products could draw $50 billion to $100 billion this year alone. Other analysts have said inflows could be $55 billion over five years. The market is also eyeing seven pending applications in front of the U.S. SEC for ETFs tied to the spot price of ether. The SEC is due to deliver a final decision on several of those proposals by May. Investors are also looking eagerly to the next bitcoin “halving,” expected in April, analysts say. That process is designed to slow the release of bitcoin, whose supply is capped at 21 million tokens – of which 19 million have already been created. Bitcoin rallied on the previous three halvings, the most recent of which was in 2020. “With fourth bitcoin halving, a first Fed interest rate cut and potential ethereum spot ETF approval, all are significant for what is the smallest, youngest and most retail-dominated asset class,” said Ben Laidler, global markets strategist at eToro. Read the full article

n149_w1150 by Biodiversity Heritage Library Via Flickr: Farquhar's catalogue of seeds 1901 :. Boston, Mass. :R. & J. Farquhar,1901.. biodiversitylibrary.org/page/42284121

If you aren't following the news here in the Pacific Northwest, this is a very, very big deal. Our native salmon numbers have been plummeting over the past century and change. First it was due to overfishing by commercial canneries, then the dams went in and slowed the rivers down and blocked the salmons' migratory paths. More recently climate change is warming the water even more than the slower river flows have, and salmon can easily die of overheating in temperatures we would consider comfortable.

Removing the dams will allow the Klamath River and its tributaries to return to their natural states, making them more hospitable to salmon and other native wildlife (the reservoirs created by the dams were full of non-native fish stocked there over the years.) Not only will this help the salmon thrive, but it makes the entire ecosystem in the region more resilient. The nutrients that salmon bring back from their years in the ocean, stored within their flesh and bones, works its way through the surrounding forest and can be traced in plants several miles from the river.

This is also a victory for the Yurok, Karuk, and other indigenous people who have relied on the Klamath for many generations. The salmon aren't just a crucial source of food, but also deeply ingrained in indigenous cultures. It's a small step toward righting one of the many wrongs that indigenous people in the Americas have suffered for centuries.

[ID: a link preview of a stock image coffee table with a laptop with the facebook logo on the screen with text on top that says 'anyone who used facebook in the last 16 years can now get settlement money. here's how." end ID]

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Filing a claim takes less than ten minutes, and can be done HERE

Excerpt from article:

Anyone in the U.S. who used Facebook in the last 16 years can now collect a piece of a $725 million settlement by parent company Meta tied to privacy violations — as long as they fill out a claim on a website set up to pay out money to the social network's users. 

The settlement stems from multiple lawsuits that were brought against Facebook by users who claimed that the company improperly shared their data with third-party sources such as advertisers and data brokers. The litigation began after Facebook was embroiled in a privacy scandal in 2018 with Cambridge Analytica, which scraped user data from the site as part of an effort to profile voters.

Meta denied any liability or wrongdoing under the settlement, according to the recently created class-action website. However, the agreement means that U.S. residents who used Facebook between May 24, 2007, and December 22, 2022, can file a monetary claim as long as they do so before August 25, 2023. 

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This ended August 25th, 2023!