• How does the CPI influence Federal Reserve decision?
• What caused Spirit Airlines’ stock to drop by 59%?
• What factors drove Bitcoin’s price to a record high?
MARKET MOVEMENTS
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Opening price as of 11/14/2024 compared to last close
IN THE HEADLINES
Inflation Data Fuels December Rate Cut Expectations, Moderates 2025 Outlook
October’s CPI data, showing a 0.2% monthly and 2.6% annual rise, reinforced expectations for a December Fed rate cut. However, persistent inflation suggests a slower easing cycle in 2025, with rising bond yields reflecting this shift. Fed Chair Jerome Powell noted that future rate moves will depend on inflation’s trajectory. Read more
Spirit Airlines Stock Plunges 59% Amid Bankruptcy Fears
Spirit Airlines (SAVE) saw its stock drop 59% as the airline explores a debt restructuring deal after merger talks with Frontier collapsed. The company may file for bankruptcy if negotiations with creditors fail. Spirit also delayed its quarterly financial results due to restructuring efforts, and its stock has fallen over 90% this year, with analysts issuing a bearish outlook. Read more
Bitcoin’s Market Dominance Hits Highest Level Since 2021
Bitcoin’s dominance in the crypto market surged to 61.39%, its highest level since 2021, fueled by growing institutional interest and technical advancements like layer-two networks. While altcoins like Ethereum have struggled, Dogecoin has outperformed Bitcoin, rising 145% recently, partly due to Elon Musk’s influence. Bitcoin’s price briefly surpassed $93,000 before retreating below $90,000. Read more
TradeUP TIDBITS
9 Key Money Moves to Make Before Year-End
With total U.S. consumer debt hitting a record $17.7 trillion and pandemic-era savings gone, 2025 will test consumer financial strength, according to Deloitte. Now is the time to strengthen your finances by reviewing your budget, boosting your emergency fund, using up FSA funds, auditing subscriptions, maximizing tax-advantaged accounts, and paying down high-interest debt. Taking these steps before the year ends can help you start 2025 on solid financial ground.
Sector rotation refers to the shifting of investments from one industry to another based on expectations for the next phase of the economic cycle. Investors strategically move capital between sectors to capitalize on the performance potential of industries that are poised to outperform as economic conditions evolve. This strategy reflects the belief that different sectors of the economy perform better during various stages of growth, contraction, or recovery.
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