• Which sectors saw the biggest job revisions?
• What are the differing views on interest rate cuts among Fed officials?
• What economic issues are each candidate focusing on?
MARKET MOVEMENTS
Dow Jones
S&P 500
Nasdaq
41,016.35(+0.31%)
5,641.27(+0.36%)
18,001.20(+0.46%)
Opening price as of 08/22/2024 compared to last close
IN THE HEADLINES
US Economy Created 818,000 Fewer Jobs Than Previously Reported
The Bureau of Labor Statistics' preliminary annual benchmark revisions revealed that the U.S. economy created 818,000 fewer jobs than initially reported between April 2023 and March 2024, reflecting a nearly 30% reduction in job growth. The total payroll revision of -0.5% is the largest since 2009, with significant downward adjustments in sectors such as professional and business services, leisure and hospitality, and manufacturing. Despite this, job creation still exceeded 2 million. However, the weaker labor market may prompt the Federal Reserve to consider interest rate cuts. Read more
Fed Officials Split on Timing and Size of Potential Interest Rate Cuts Ahead of Powell's Speech
Federal Reserve officials are divided on the potential timing and size of interest rate cuts ahead of Fed Chair Jerome Powell's anticipated speech at the Jackson Hole Economic Symposium. While many economists expect Powell to signal a rate cut in September, Fed Governor Michelle Bowman advocates for caution due to inflation risks and labor market uncertainty. Chicago Fed President Austan Goolsbee also expressed hesitation, suggesting that a September cut is not guaranteed. Meanwhile, Minneapolis Fed President Neel Kashkari supports discussing rate cuts but believes a reduction of more than a quarter point may not be necessary. Read more
Harris vs. Trump: A Look at Their Economic Plans
Donald Trump and Kamala Harris are competing for the support of working-class voters with their distinct economic plans. Harris has unveiled initiatives to lower costs for American families, including child tax credits, housing assistance, and price controls, building on existing Biden administration efforts. In contrast, Trump focuses on reducing inflation, promising to cut prices, eliminate taxes on tips, and boost oil and gas production, though specific details on how he would achieve these goals remain unclear. Both candidates' proposals reveal their differing approaches to addressing economic challenges and connecting with working-class voters. Read more
TradeUP TIDBITS
What is the Fully Paid Securities Lending Program?
Stock lending, or securities lending, is a well-established financial practice that enables investors to borrow securities from brokers or financial institutions to sell in the market. This strategy allows investors to capitalize on market fluctuations and potentially generate additional returns. While the basics of stock lending are widely understood, the benefits of using non-cash collateral in these transactions are often underutilized.
A Fill-Or-Kill order is an order to buy or sell a stock that must be executed immediately in its entirety; otherwise, the entire order will be cancelled (i.e., no partial execution of the order is allowed.
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This week's topic is: Have You Explored the Fully Paid Securities Lending Program on TradeUP?
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