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  • Airline Stocks Rise, Mortgage Rates Rise ๐Ÿ“ˆ, Bitcoin First Loss๐Ÿ“‰

Airline Stocks Rise, Mortgage Rates Rise ๐Ÿ“ˆ, Bitcoin First Loss๐Ÿ“‰

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Check this out:

  • Trend Tracker - Up To Date News and Trends On The Stock Market ๐Ÿ“ˆ

  • Hot or Not? - All Your Real Estate Needs ๐Ÿ 

  • Crypto Chronicles - Basically the Avengers of Crypto! How Cool Is That? ๐Ÿฆธโ€โ™‚๏ธ

  • Money Moves - Who doesnโ€™t wanting to be making money moves? Latest on your Personal Finance.

๐Ÿ“ˆ Trend Tracker

โžก๏ธ US stocks show mixed performance as investors await the passage of the debt-ceiling deal in Congress. The S&P 500 slightly increases, Nasdaq Composite rises, and Dow Jones Industrial Average dips. Bond yields decline as investors evaluate the deal's implications.

๐Ÿ“ˆย Airline stocks rise as passenger demand surges during the unofficial start of summer holidays. The TSA screened 9.8 million people over the weekend, up 300,000 from 2019. United, American, Southwest, and Delta saw their shares increase. Memorial Day travel indicates strong demand despite higher ticket prices. AAA predicts a 7% increase in travel compared to last year.

๐Ÿ’ฐ Nvidia (NVDA) becomes the first chipmaker to achieve a $1 trillion market valuation, joining tech giants like Microsoft, Alphabet, Amazon, and Apple. The company's stock has surged over 165% in 2023, driven by the demand for its AI-focused products and strong financial performance.

๐Ÿ  Hot or Not?

๐Ÿคฏย Mortgage rates surged this week, crushing hopes for an affordable spring home-shopping season. The average 30-year fixed-rate mortgage reached 6.57% (Freddie Mac) and even higher at 7.12% (Mortgage News Daily), while home prices appeared to be declining.

Crypto Chronicles ๐Ÿ’ฅ

๐Ÿ“ˆย XRP price surges 5% to $0.5027 in 24 hours, boosted by optimism surrounding Ripple's ongoing case against the SEC. With an 18% increase in two weeks and 47% since the year started, XRP could experience a significant rally. Wall Street Memes presale also exceeds $1 million.

๐Ÿ“‰ย Bitcoin (BTC) has shown some recovery but remains on track for its first monthly loss since December. It traded near $27,800, up 7.5% from recent lows but still down 5% for the month. Bond traders' bets on the Fed's interest rates and capital leaving the crypto market have impacted Bitcoin's performance.

๐Ÿ“‰ย Pepe Coin's value has fallen by 5.5% in 24 hours, dropping to $0.00000137 from $0.00000150. It has declined by 13% in a week and 19% in two weeks, yet remains up by 130% in the last 30 days. Despite recent loss in momentum, potential future listings may lead to a rally, as the current price appears undervalued.

๐Ÿ’ธ Money Moves ๐Ÿ’ฐ

๐Ÿ’ตย Federal student loan borrowers will have to resume making payments 60 days after June 30, according to a tentative deal between Republican lawmakers and President Biden. The agreement ends the pandemic-era payment pause and prevents the White House from extending it, raising concerns about loan cancellations and potential defaults.

๐Ÿ’ฐ A recent Federal Reserve report reveals that Americans are experiencing a decline in overall financial well-being, with only 63% of adults able to cover a $400 unexpected expense. This decline is consistent with surveys showing a decrease in emergency savings due to high inflation. Additionally, the Federal Reserve's efforts to curb inflation through interest rate hikes have resulted in higher interest rates on debt. US credit card debt has reached nearly $1 trillion, the highest in 20 years, according to the Federal Reserve Bank of New York.

You got it! Alright, financial mavericks, it's time to wrap up today's discussion. But fear not, we can keep the conversation going like the true money mavericks we are.

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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.

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