(Check it out — all sorts of fun stuff in here) ☝️
📰 Market Headlines
*past 24-hour performance
Tech giants led the market downturn yesterday; all major indexes fell about 1%.
Powell told Congress the Fed focused on data and inflation trends before considering rate reductions, hinting at potential cuts "sometime this year".
The market reacted positively, with the Dow up more than 250 points as Powell's comments reassured investors.
The US House passed a bipartisan spending bill to prevent a government shutdown.
Nikki Haley withdrew from the Republican presidential race, urging Donald Trump to earn the support of her backers.
“We think because of the strength in the economy and the strength in the labor market and the progress we’ve made, we can approach [moving on rates] carefully and thoughtfully and with greater confidence," - Jerome Powell
Properly combined through an excellent documentary and a plate of brisket.
📈 Trends you need to know
Interest in airline miles declined steadily from 2004 to COVID-19 when points fell off a cliff. As travel returns, so does mileage use—perhaps there’s a lot in the bank.
Undervalued by 17% and offering a 4% yield, one of the largest regulated utilities in the United States is poised for growth.
⚡ Crypto
Bitcoin actually failed to top its all-time high when adjusted for inflation. [Ed: this guy is probably super fun at parties]The Middle East positions itself as a future crypto hub. gains, dropping 5% under pressure from Bitcoin's decline. It quickly bounced back and sits well above $3,800 atm. that Bitcoin could fall to $42K post-halving.
