Summary Of the Markets Today:
- The Dow closed down 207 points or 0.47%,
- Nasdaq closed down 123 points or 0.64%,
- S&P 500 closed down 36 points or 0.60%,
- Gold $2,573 down $13.10 or 0.52%,
- WTI crude oil settled at $69 up $0.13 or 0.19%,
- 10-year U.S. Treasury 4.445 down 0.006 points or 0.135%,
- USD index $106.90 up $0.42 or 0.39%,
- Bitcoin $87,800 down $1,624 or 1.85%, (24 Hours)
*Stock data, cryptocurrency, and commodity prices at the market closing
Today’s Highlights
The US stock market experienced a downturn as the post-election rally lost momentum. Federal Reserve Chair Jerome Powell’s comments were a primary driver of market sentiment. He emphasized that the central bank is not in a “hurry” to lower interest rates and the US economy remains strong. The Fed will be “watching carefully” to ensure inflation stays within an acceptable range. Republican party maintained its House majority, creating a “trifecta” of political control that could facilitate President-elect Trump’s economic agenda. This agenda caused Tesla to drop over 5% after reports suggested eliminating the $7,500 EV tax credit. In addition, Moderna and Novavax declined after reports of Robert F. Kennedy Jr. potentially leading the Department of Health and Human Service.
Click here to read our current Economic Forecast – November 2024 Economic Forecast: Our Index Marginally Declines – We Are Stuck With The Crappy Economy We Have Seen So Far This Year
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
Following the growth of the Consumer Price Index yesterday, the Producer Price Index (PPI) grew from 1.9% year-over-year to 2.4% in October 2024. The services portion of the PPI grew from 3.3% to 3.5% year-over-year and the goods portion of the PPI grew from -1.2% to 0.2% year-over-year. The PPI less food and energy grew from 3.0% to 3.1% year-over-year. Historically, I have defended the various inflation indices but their understatement of inflation is becoming persistent. I believed in 2024, it was a political decision to understate inflation but for now I will go with the historical rationale:
Several factors contribute to the possibility that official inflation statistics understate true inflation:
- Methodological changes: The Bureau of Labor Statistics (BLS) has made significant changes to CPI calculation methods over the years, which some critics argue have led to lower reported inflation rates 1 3.
- Substitution bias: The CPI’s fixed basket approach may not fully account for consumers substituting between goods when prices change, potentially understating inflation 3.
- Quality adjustments: The use of “hedonic adjustments” to account for product improvements may artificially lower reported inflation 4.
- Exclusion of asset prices: The CPI does not include asset inflation, such as rising stock or real estate prices, which can significantly impact overall cost of living 4.
- Subjective weighting: The relative importance of items in the CPI basket can be adjusted, potentially hiding sharp price increases in essential goods 4
Evidence of Understatement:
- Alternative calculations: Some economists, using different methodologies, have estimated significantly higher inflation rates than official figures. For example, in 2006, while the official CPI showed a 2.2% increase, alternative estimates ranged from 5.3% to 8.2% 5.
- Historical comparisons: Calculations using older CPI formulas suggest that current inflation rates could be nearly double the officially reported figures 2
- Divergence from personal experience: Many consumers report experiencing higher price increases than official statistics indicate, suggesting a potential disconnect between CPI and real-world inflation 4
If inflation is indeed understated, there could be several significant consequences:
- Monetary policy: Central banks may make suboptimal decisions regarding interest rates and monetary stimulus based on inaccurate inflation data 4
- Government spending: Many government payments, such as Social Security, are tied to CPI. Lower reported inflation could result in reduced payments to citizens 5
- Investment returns: Investors may experience lower real returns than expected if true inflation is higher than reported 5
- Economic planning: Inaccurate inflation data can make financial planning more difficult for individuals and businesses 4
In the week ending November 9, the advance figure for seasonally adjusted unemployment initial claims 4-week moving average was 221,000, a decrease of 6,250 from the previous week’s unrevised average of 227,250. This data shows no signs of an economic slowdown.
In a speech today, Federal Reserve Chair Jerome Powell provided an overview of the current state of the U.S. economy and the Fed’s monetary policy stance. A summary of his speech: The U.S. economy has shown remarkable resilience and growth: GDP grew by over 3% last year and is expanding at a 2.5% rate this year. Consumer spending remains strong. Business investment has accelerated. The labor market is in solid condition, with unemployment at 4.1%. Significant strides have been made in controlling inflation: Total PCE prices rose 2.3% over the 12 months ending in October. Core PCE prices increased by 2.8%. Inflation is moving closer to the Fed’s 2% goal, though not there yet. The Fed is carefully adjusting its policy stance. We recently lowered the policy interest rate by 1/4 percentage point. We are moving towards a more neutral policy setting. Will assess incoming data, evolving outlook, and balance of risks for future decisions. Not in a hurry to lower rates due to current economic strength. Powell expressed confidence in maintaining economic strength while bringing inflation down to 2%. The Fed remains committed to its dual mandate of maximum employment and price stability, aiming to achieve these goals without causing a significant rise in unemployment.
Here is a summary of headlines we are reading today:
- 3 Critical Challenges in the Transition to Net-Zero
- Trump’s Second Term Could Present Challenges and Opportunities for the Caucasus
- Oil Jumps on Fuel Inventory Draws
- Rubio’s Vision: A Pragmatic Approach to American Foreign Policy
- Germany Warns Import Terminals to Refuse Deliveries of Russian LNG
- Powell says the Fed doesn’t need to be ‘in a hurry’ to reduce interest rates
- Here’s the deflation breakdown for October 2024 — in one chart
- Dow drops 200 points as postelection rally sputters, Fed Chair Powell signals caution on rate cuts: Live updates
- Greenlight’s David Einhorn says the markets are broken and getting worse
- Wholesale prices rose 0.2% in October, in line with expectations
- The House just voted ‘yes’ on a bill that would increase Social Security checks for some pensioners
- 2-year Treasury yield jumps after the close, with Powell patient about rate cuts
Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.
The Market in Perspective
| Here are the headlines moving the markets. | |
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3 Critical Challenges in the Transition to Net-ZeroAchieving the net-zero emissions target needed to limit global temperature rise will require an unprecedented transformation of the world’s energy system. The effort is underway, but much more work needs to be done to create a sustainable and resilient system that can meet rising energy demand while greatly reducing greenhouse gas emissions. Rystad Energy’s just-launched annual flagship report Global Energy Scenarios 2024 provides a strategic roadmap for a low-carbon future and an in-depth look at what it will take to achieve the IPCC’s… Read more at: https://oilprice.com/Energy/Energy-General/3-Critical-Challenges-in-the-Transition-to-Net-Zero.html |
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China’s Ambitious Trade Vision for Kyrgyzstan Takes ShapeA Swedish consultancy group made international headlines in 2007 when it declared that Santa Claus should be based in Kyrgyzstan, as it was the best place for him to reach every household in the world during his fabled Christmas-night journey. For those restricted to ground travel, however, landlocked Kyrgyzstan still looks like a logistics nightmare with its soaring mountain peaks and poor roads. Yet China is undeterred and seems to be pulling out all the stops to turn Central Asia’s second-poorest country into its next big project in terms of… Read more at: https://oilprice.com/Geopolitics/International/Chinas-Ambitious-Trade-Vision-for-Kyrgyzstan-Takes-Shape.html |
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Traditional Automakers and Startups Accelerate Electric Off-RoadingAutomakers are racing to produce electric vehicles (EVs) with off-road capabilities, equipped with the power and range needed to meet consumer expectations. EVs have come a long way in recent years, as car manufacturers produce faster, longer-range vehicles with better battery life. However, developing competitive electric off-road vehicles has been more complicated. Now, several well-known automakers, as well as some ambitious start-ups, have announced plans to launch innovative electric off-road models in the coming years. In November,… Read more at: https://oilprice.com/Energy/Energy-General/Traditional-Automakers-and-Startups-Accelerate-Electric-Off-Roading.html |
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Trump’s Second Term Could Present Challenges and Opportunities for the CaucasusAzerbaijani leader Ilham Aliyev got what he wished for in the US presidential election: Donald Trump will return to the White House. But Trump’s early moves in assembling his foreign policy team suggest his second term may end up being a bumpier ride for Azerbaijan than Aliyev anticipated. Broadly speaking, the incoming Trump administration is expected to de-emphasize adherence to democratic standards and respect for individual rights as guideposts for US foreign policy. That is welcome news for authoritarian-minded leaders, such as… Read more at: https://oilprice.com/Geopolitics/International/Trumps-Second-Term-Could-Present-Challenges-and-Opportunities-for-the-Caucasus.html |
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US LNG Exports Poised to Hit 9-Month HighThe seven largest US LNG export plants are receiving high volumes of gas, new data from LSEG revealed on Thursday, with gas flows expected to reach a nine-month high. The data shows that US LNG feedgas is set to rise from 14 billion cubic feet per day yesterday to 14.4 billion cubic feet per day today. Cheniere’s Sabine Pass export plant in Louisiana—the largest LNG export plant in the United States—was on track to receive 4.9 bcfd today—a three-week high. And flows could continue to climb as the new Plaquemines has been… Read more at: https://oilprice.com/Latest-Energy-News/World-News/US-LNG-Exports-Poised-to-Hit-9-Month-High.html |
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UK Government Admits It Approved the Giant Rosebank Oilfield UnlawfullyThe UK government has admitted in court that its approval of the giant Rosebank oilfield off Shetland was unlawful. Government lawyer Chris Pirie KC accepted at an Edinburg court that the previous Conservative administration did not include “the effects on climate of the combustion of oil and gas to be extracted from the fields.” Controversy over new drilling licenses for oilfields in the UK has been ongoing for the past couple of years. Last year, the United Kingdom’s North Sea Transition Authority approved the development… Read more at: https://oilprice.com/Energy/Energy-General/UK-Government-Admits-It-Approved-the-Giant-Rosebank-Oilfield-Unlawfully.html |
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Oil Jumps on Fuel Inventory DrawsCrude oil prices moved higher today after the U.S. Energy Information Administration reported an inventory build of 2.1 million barrels for the week to November 8. In fuels, however, inventories fell. At the time of writing, Brent crude was trading at $72.75 per barrel, with WTI at $68.89 per barrel, both up from opening. The crude oil inventory change compared with a build of the same size for the previous week, which pressured oil prices at the time. A day earlier, the American Petroleum Institute had reported an unexpected but modest draw in… Read more at: https://oilprice.com/Energy/Crude-Oil/Oil-Jumps-on-Fuel-Inventory-Draws.html |
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Europe’s Natural Gas Prices Jump to 2024 HighEurope’s benchmark natural gas prices surged on Thursday to the highest since November 2023 as Austria’s OMV warned of a potential halt to Russian pipeline gas supply and as colder weather drives stronger demand for heating and electricity. Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, jumped early on Thursday in Amsterdam by 5%. As of 1:50 p.m. Amsterdam time, prices had given up some of the gain, but they were still up by 4% on the day, at $47.83 (45.40 euros) per megawatt-hour (MWh). Late on Wednesday,… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Europes-Natural-Gas-Prices-Jump-to-2024-High.html |
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Rubio’s Vision: A Pragmatic Approach to American Foreign PolicyPresident-elect Donald Trump has tapped Senator Marco Rubio to be his top diplomat as the incoming administration prepares to navigate an increasingly perilous world, with wars raging in Europe and the Middle East and competition heating up with China in the Asia-Pacific. In choosing Rubio — a senator known for taking a tough line on many foreign policy issues — the president-elect is seeking someone who largely shares his views on the most pressing international topics, says Behnam Ben Taleblu, an analyst at the Washington-based Foundation for… Read more at: https://oilprice.com/Geopolitics/International/Rubios-Vision-A-Pragmatic-Approach-to-American-Foreign-Policy.html |
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Norway’s Oil Investment Hits Record HighInvestments in the oil and gas sector in Norway are set to hit a record high this year, due to higher development activity on new projects and the cost inflation in the industry, Statistics Norway said on Thursday in its fourth-quarter survey of companies’ investment plans. Total investments in oil and gas activity, including pipeline transportation, are now estimated at $22.9 billion (256 billion Norwegian crowns) for this year, according to Norway’s statistics office. The estimate is an all-time high for oil and gas investments in… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Norways-Oil-Investment-Hits-Record-High.html |
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IEA Warns of Oil Market Surplus Amid Weak Demand in 2025Global oil demand will rise by 920,000 barrels per day (bpd) this year, the International Energy Agency (IEA) said on Thursday, lifting its growth estimate from a month ago, but warned that weak demand growth will lead to a supply overhang next year. In its monthly oil market report today, the IEA raised its 2024 oil demand growth estimate to 920,000 bpd, up from 862,000 bpd in the October report. The demand growth projection for 2025 was revised slightly down to 990,000 bpd from 998,000 bpd, as the agency warned that demand growth this year and… Read more at: https://oilprice.com/Energy/Energy-General/IEA-Warns-of-Oil-Market-Surplus-Amid-Weak-Demand-in-2025.html |
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Ovintiv Expands in Canada’s Montney Shale With $2.4 Billion DealThe oil and gas industry’s mergers and acquisitions continue to expand to Canada, with Ovintiv agreeing to buy assets of Paramount Resources in the Montney shale play for US$2.37 billion (C$3.325 billion). Under the terms of the deal announced on Thursday, Paramount Resources will sell to Ovintiv its Karr, Wapiti, and Zama properties in the Montney shale play for US$2.37 billion (C$3.325 billion) in cash plus certain properties of Ovintiv in the Horn River Basin, a major shale gas play in British Columbia. The assets Paramount Resources is… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Ovintiv-Expands-in-Canadas-Montney-Shale-With-24-Billion-Deal.html |
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Germany Warns Import Terminals to Refuse Deliveries of Russian LNGGermany’s economy ministry has warned the operators of its LNG import terminals to refuse acceptance of cargoes from Russia until further notice, as the import of Russian LNG undermines the very concept of rushing to set up LNG ports in the first place—cutting off dependence on Russian gas supply. The German Ministry of Economy sent last week a letter to Deutsche Energy Terminal, advising it “not to accept any deliveries of Russian LNG,” the Financial Times reported on Thursday, quoting the letter it had seen. The ministry… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Germany-Warns-Import-Terminals-to-Refuse-Deliveries-of-Russian-LNG.html |
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Saipem Wins Contract for $10-Billion Suriname Oil ProjectSaipem has won a $1.9-billion contract from TotalEnergies for engineering, procurement, construction, and installation (EPCI) at the $10.5-billion GranMorgu oil project offshore Suriname, the Italian engineering group said on Thursday. Saipem will work on the engineering, procurement, supply, construction, installation, pre-commissioning, and assistance for the commissioning and start-up of the Subsea Umbilicals, Risers and Flowlines (SURF) package at the project, which TotalEnergies progressed last month. In October, TotalEnergies announced the… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Saipem-Wins-Contract-for-10-Billion-Suriname-Oil-Project.html |
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Libyan Oil Output Under Threat Amid Fresh ProtestsProtesters shut down oil distribution valves in response to the kidnapping of a senior intelligence officer, for which they blame the government in Tripoli. The valves connect the Sharara field, Libya’s largest, and the El Feel field, to a refinery in Zawya, media reported. The facility has a processing capacity of 350,000 barrels daily or roughly a third of Libya’s oil production. Brigadier General Mustafa al-Whayshi, director of Libya’s Central Security Department, a unit of the intelligence services, was kidnapped earlier this… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Libyan-Oil-Output-Under-Threat-Amid-Fresh-Protests.html |
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Powell says the Fed doesn’t need to be ‘in a hurry’ to reduce interest rates“The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully,” Powell said. Read more at: https://www.cnbc.com/2024/11/14/powell-says-the-fed-doesnt-need-to-be-in-a-hurry-to-reduce-interest-rates.html |
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Here’s the deflation breakdown for October 2024 — in one chartThere are still some pockets of deflation in the U.S. economy, though the dynamic has become more muted as supply chains normalize, economists said. Read more at: https://www.cnbc.com/2024/11/14/heres-the-deflation-breakdown-for-october-2024-in-one-chart.html |
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Dow drops 200 points as postelection rally sputters, Fed Chair Powell signals caution on rate cuts: Live updatesStocks struggled to regain momentum on Thursday after Federal Chair Jerome Powell cautioned that the economy is strong enough to not rush to cut rates. Read more at: https://www.cnbc.com/2024/11/13/stock-market-today-live-updates.html |
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‘Big Short’ investor Michael Burry reshuffles portfolio, adds hedges on China holdingsBurry, who now manages hedge fund Scion Asset Management, boosted his stakes in a few Chinese internet companies’ ADRs. Read more at: https://www.cnbc.com/2024/11/14/big-short-investor-michael-burry-reshuffles-portfolio-adds-hedges-on-china-holdings.html |
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Greenlight’s David Einhorn says the markets are broken and getting worseEinhorn’s frustration with passive investing is understandable. Academic research has long supported the belief that, in the long run, value outperforms growth. Read more at: https://www.cnbc.com/2024/11/14/greenlight-capitals-einhorn-again-argues-that-markets-are-broken.html |
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Trump AG pick Matt Gaetz under scrutiny as House Ethics report on sex, drug claims takes focusGOP Sen. John Cornyn said he “absolutely” wants to see the House Ethics Committee report into Matt Gaetz, President-elect Donald Trump’s attorney general pick. Read more at: https://www.cnbc.com/2024/11/14/trump-matt-gaetz-house-sex-drug-probe-attorney-general.html |
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SEC chair Gary Gensler defends agency’s approach to crypto regulation: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, John Wu of Ava Labs discusses the performance of altcoins after the election, plus what a new Trump administration means for the crypto industry. Read more at: https://www.cnbc.com/video/2024/11/14/sec-chair-gary-gensler-defends-agencys-approach-to-crypto-regulation-cnbc-crypto-world.html |
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Disney earnings offer hope that streaming can successfully supplant linear TVDisney projects entertainment direct-to-consumer operating income will increase by about $875 million next year over fiscal year 2024. Read more at: https://www.cnbc.com/2024/11/14/disney-earnings-offer-hope-that-streaming-can-supplant-linear-tv.html |
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Wholesale prices rose 0.2% in October, in line with expectationsThe producer price index was expected to increase 0.2% in October, according to the Dow Jones consensus forecast. Read more at: https://www.cnbc.com/2024/11/14/wholesale-prices-rose-0point2percent-in-october-in-line-with-expectations.html |
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Here’s what the U.S.’ enemies — and allies — might see from Marco Rubio as secretary of StateSen. Marco Rubio’s nomination as secretary of State will see him become the world’s most important diplomat. Read more at: https://www.cnbc.com/2024/11/14/what-has-marco-rubio-said-about-china-iran-israel-and-ukraine.html |
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The House just voted ‘yes’ on a bill that would increase Social Security checks for some pensionersCertain rules that reduce pensioners’ Social Security benefits have been in place for decades. Some Washington lawmakers are voting to change that. Read more at: https://www.cnbc.com/2024/11/13/house-just-voted-yes-to-increase-social-security-for-some-beneficiaries.html |
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Landry CEO Fertitta becomes Wynn Resorts’ largest individual shareholder with nearly 10% stakeBillionaire casino mogul and Landry CEO Tilman Fertitta has increased his stake in Wynn Resorts to 9.9% Read more at: https://www.cnbc.com/2024/11/14/landrys-ceo-fertitta-becomes-wynn-resorts-largest-individual-shareholder.html |
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Watch Live: Fed Chair Powell Attempts To Cement His Inflation-Fighting LegacyOn a day when producer prices confirmed what consumer prices warned yesterday – that the inflation genie is not back in the bottle – Fed Chair Jay Powell will be interviewed by WaPo reporter Catherine Powell at the Dallas Fed, presumably to reassure the world that he is ‘independent’, is not about to be fired by Trump, and that everything is awesome on the rate-cutting path.
Traders should expect Powell to reiterate the points he made at the FOMC press conference last week when he refused to provide specific guidance regarding the December meeting, stressed data-dependency and noted the Fed does not want to see further cooling in the labor market. While hope remains high for the ‘soft landing’ narrative, today we see inflation resurgent at the same as jobless claims hit six-month lows… Read more at: https://www.zerohedge.com/markets/watch-live-fed-chair-powell-attempts-cement-his-inflation-fighting-legacy |
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Insurance Mogul Greg Lindberg Pleads Guilty To $2 Billion Fraud, Money Laundering SchemeAuthored by Aldgra Fredly via The Epoch Times (emphasis ours), Insurance mogul Greg Lindberg has pleaded guilty to conspiracy in a $2 billion fraud and money laundering scheme that defrauded thousands of insurance policyholders, according to the Department of Justice (DOJ).
The Department of Justice building in Washington on March 28, 2023. Madalina Vasiliu/The Epoch Times Lindberg pleaded guilty on Nov. 12 to one count of conspiracy to commit offenses against the United States and one count of money laundering in a scheme to defraud insurance regulators and policyholders. The 54-year-old Tampa resident faces a maximum penalty of 15 years in prison for the two counts, Read more at: https://www.zerohedge.com/political/insurance-mogul-greg-lindberg-pleads-guilty-2-billion-fraud-money-laundering-scheme |
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In Historic First, Pennsylvania Introduces Bill For Strategic Bitcoin ReserveBack in May, when it was still unclear what Trump’s crypto position would be, we were the first to make a modest proposal: to win not only the crypto vote, but also to ensure that after a catastrophic 4 years for the US crypto industry under the suffocating Gary Gensler/Liz Warren anti-crypto regime, Trump should announce a strategic bitcoin/ethereum reserve and allocate a certain sizable number to it (we proposed 2mm BTC/10mm ETH).
Two months later, during the Bitcoin 2024 Conference in Nashville, many expected Trump to announce just that, but while getting tantalizingly close during his lengthy pro-crypto speech, the past and future president refused to make an explicit commitment, even though some viewed this as merely a delay until pro-crypto president moved back to the White House. So fast forward to today when in what is a preview of things to come at the Federal level, Fox Business reported that Trump’s imminent return to the White House has prompted Pennsylvania lawmakers to introduce legislation that would enable the state’s treasury to hol … Read more at: https://www.zerohedge.com/crypto/historic-first-pennsylvania-introduces-bill-strategic-bitcoin-reserve |
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FBI Official Who Oversaw J6 Pipe Bomb Probe Lied About Receiving ‘Corrupted’ EvidenceAuthored by Ken Silva via Headline USA, Last year, the FBI official who oversaw the initial investigation into who planted the Jan. 6, 2021, Capitol Hill pipe bombs told Congress that cell phone data from that probe was “corrupted.”
Jan. 6 suspected pipe bomber / IMAGE: RevolverNews via Rumble “We have complete data. Not complete, because there’s some data that was corrupted by one of the providers—not purposely by them, right,” former FBI official Steven D’Antuono told the House Judiciary Committee Read more at: https://www.zerohedge.com/political/fbi-official-who-oversaw-j6-pipe-bomb-probe-lied-about-receiving-corrupted-evidence |
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UK must rebuild post-Brexit relations with EU, says Bank bossGovernor Andrew Bailey will deliver his strongest comments yet on the UK’s departure from the EU. Read more at: https://www.bbc.com/news/articles/cr5m7mp96l8o |
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Reeves in radical pension shake-up to boost growthThe chancellor wants to merge the UK’s pension funds but critics worry about the impact on savers. Read more at: https://www.bbc.com/news/articles/c4gve4d8jljo |
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What is Rachel Reeves’ plan for pension funds?The chancellor says she wants to “fire up the UK’s economy” with a “Canadian-style” pensions model. Read more at: https://www.bbc.com/news/articles/cwywvndj3jyo |
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SEBI study: 1 out of 4 times listed companies paid royalty exceeding 20% of their net profits to related partiesA Sebi study found that Indian listed companies paid royalty to related parties exceeding 20% of net profits once in four times. In half the cases, royalty payments exceeded dividends paid to non-related shareholders. 1,538 instances of royalty payments within 5% of turnover were observed, with 1,353 made by profitable companies and 185 by loss-making ones. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/sebi-study-1-out-of-4-times-listed-companies-paid-royalty-exceeding-20-of-their-net-profits-to-related-parties/articleshow/115302033.cms |
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Grasim Industries Q2 Results: PAT falls 66% YoY to Rs 390 crore, revenue rises 11%Grasim Industries Q2 Results FY25: Grasim Industries, the flagship company of Aditya Birla Group, on Thursday reported a 66% fall in its consolidated net profit at Rs 390 crore in the second quarter, compared with Rs 1164 crore in the last year quarter. Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/grasim-q2-results-pat-falls-66-yoy-to-rs-390-crore-revenue-rises-11/articleshow/115304754.cms |
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Brainbees Solutions Q2 Results: FirstCry operator narrows loss to Rs 50 crore YoY, revenue jumps 26%The reduction in the company’s losses was driven by higher revenues on both a yearly and quarterly basis. Firstcry’s operator reported a topline of Rs 1,905 crore in Q2FY25, up from Rs 1,507 crore in the same quarter last year and Rs 1,652 crore in Q1FY25, reflecting a 26% YoY and 15% QoQ increase. Read more at: https://economictimes.indiatimes.com/markets/stocks/earnings/brainbees-solutions-q2-results-firstcry-operator-narrows-loss-to-rs-50-crore-yoy-revenue-jumps-26/articleshow/115301648.cms |
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2-year Treasury yield jumps after the close, with Powell patient about rate cutsThe policy-sensitive 2-year Treasury yield edged higher after 3 p.m. Eastern time on Thursday, following fresh comments from Federal Reserve Chair Jerome Powell that indicated the central bank isn’t in a hurry to cut interest rates again. Read more at: https://www.marketwatch.com/story/treasury-yields-hold-near-4-month-highs-ahead-of-powell-speech-5ad4821d?mod=mw_rss_topstories |
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‘I handle my dad’s finances’: My father is in a nursing home and will get $100K in compensation. What should I do with it?“I’ve thought about CDs, money-market and mutual funds.” Read more at: https://www.marketwatch.com/story/i-handle-my-dads-finances-my-father-is-in-a-nursing-home-and-will-get-100k-in-compensation-what-should-i-do-with-it-e4449fbe?mod=mw_rss_topstories |
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Michael Burry added to bets on Chinese stocks last quarter — but there’s a catchMichael Burry, the hedge-fund investor made famous by Michael Lewis’s book “The Big Short,” upped his bets on Chinese stocks during the third quarter — but he’s also making sure to protect his downside. Read more at: https://www.marketwatch.com/story/michael-burry-added-to-bets-on-chinese-stocks-last-quarter-but-theres-a-catch-8a0fa340?mod=mw_rss_topstories |
