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Trend Tracker - Up To Date News and Trends On The Stock Market 📈
Hot or Not? - All Your Real Estate Needs 🏠
Crypto Chronicles - Basically the Avengers of Crypto! How Cool Is That? 🦸♂️
Money Moves - Who doesn’t wanting to be making money moves? Latest on your Personal Finance.
📈 Trend Tracker
🎢 Stocks had a mixed performance during midday trading as President Joe Biden and House Speaker Kevin McCarthy prepared to resume debt-ceiling negotiations. The S&P 500 increased by 0.17%, the Dow Jones fell 0.15%, and the Nasdaq Composite rose 0.46%.
💰 Chevron is acquiring shale producer PDC Energy for $7.6 billion, boosting its U.S. oil and gas footprint. The deal will increase Chevron's production, capital expenditures, and cash flow in the U.S. amidst global energy supply concerns. It adds 260,000 barrels of oil and gas production per day to Chevron's output.
🧐 President Joe Biden and House Speaker Kevin McCarthy are meeting urgently to strike a deal before a key deadline 10 days away. Treasury Secretary Janet Yellen emphasizes the need to avoid default, prioritizing debt interest and essential payments. Some believe economic unrest may be limited initially, but there are concerns about potential risks for government contractors in sectors like defense and healthcare if talks fail. Experts acknowledge the uncertainty surrounding this situation.
🏠 Hot or Not?
📈 Over the past year, mortgage rates have risen by more than 1 percentage point, creating a stalemate in the housing market. Sellers are hesitant to list their homes due to the higher rates, while buyers struggle to find affordable options. However, there are signs of hope as housing indicators suggest ongoing activity, albeit at a slower pace. Home prices have seen weaker growth, but significant declines have yet to be observed. Sellers are monitoring the market for the right time to list, which could result in an influx of new listings. Although homes are taking longer to sell, there is still competition in the market, providing opportunities for buyers and sellers.
🏠 Lawmakers' game of chicken with the debt ceiling could have severe consequences for the housing market. A U.S. default would lead to skyrocketing interest rates, making mortgages unaffordable. Government-backed loans and assistance for low-income renters would disappear, while the economy could spiral into a recession.
Crypto Chronicles 💥
📈 Today, three religious-themed meme coins, $GOD, $MARY, and $BABYJESUS, were listed on Uniswap and became top gainers on DEXTools. However, exercise caution as they have low DEXTscore and warnings in their contract details. Jesus Coin (JESUS) is also trending on CoinMarketCap. High gains on DEX may indicate low liquidity, and the three coins have liquidity and market caps under $100k and $1 million respectively. While experienced traders may profit, beginners should be aware of the risk of a sudden price crash, known as a 'pump and dump.
🍕 Bitcoin Pizza Day turned sour as meme coin creators made over $200,000 through fraudulent schemes on the 13th anniversary of the first bitcoin transaction. Within 24 hours, 14 pizza-related meme coins were launched, with four confirmed rug pulls and five suspected honey pots, leaving investors trapped with worthless tokens.
📲 Bitcoin payments firm Strike, led by CEO Jack Mallers, announced at the Bitcoin 2023 conference in Miami Beach that its app will expand to over 65 countries, offering global payment and cross-border money transfer services using Bitcoin and Lightning. The app will have a new user interface and enable users to hold funds in Bitcoin and Tether. The expansion aims to target nearly 3 billion people worldwide, with plans to eventually reach every country.
💸 Money Moves 💰
😰 The share of Americans feeling worse about their finances reached its highest level since 2014. Inflation and a declining stock market in 2022 impacted wallets and savings. 35% reported a decline in financial well-being, according to the Federal Reserve Board's report.
🏦 High-yield savings account vs. investing: Which is right for you?
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.