IN THIS WEEK’S EDITION, STORIES THAT DOMINATED 2023
-Federal Reserve Chairman Jerome Powell’s early Christmas gift to investors
-Inflation nation catches a break
-Bitcoin’s back and an ETF is in the pipeline
-Disgraced FTX CEO Sam Bankman-Fried’s conviction and future
-Taylor Swift, Beyonce juice the economy and rule the world
-AI cements its world dominance
-A banner year for U.S. stocks
TOP STORY: FED CHAIR POWELL PLAYS SANTA CLAUS
Earlier this month, Federal Reserve Chairman Jerome Powell not only gave investors what they’ve been wishing for: an end to interest rate hikes, but he did them a solid by penciling in a series of rate cuts next year… continue reading here.
The move thrilled investors, who pushed the Dow Jones Industrial Average past 37,000 for the first time in history during the final month of the year.
Dow Jones Industrial Average
VIDEO: How policymakers orchestrated their pivot and what it means for the U.S. economy
BITCOIN BACK IN FAVOR: Bitcoin has gained over 163% this year, making it one of the top-performing asset classes of 2023, and there is reason to believe the Securities and Exchange Commission is close to approving the first spot Bitcoin ETF in early 2024, which could send the cryptocurrency to new highs…continue reading here.
VIDEO: Why a Bitcoin exchange traded fund is in the cards for 2024
JURY THROWS THE BOOK AT SAM BANKMAN-FRIED: The former FTX CEO and cryptocurrency wunderkind Sam Bankman-Fried was found guilty by a jury of his peers on all counts, which carry a potential prison sentence of over 100 years. Judge Lewis A. Kaplan will determine what time will be served. Meanwhile, his former firm FTX is planning a comeback of sorts….continue reading here.
SEE IT: The twists and turns of SBF’s trial in pictures
GIRL POWER: Taylor Swift and Beyonce rocked the summer concert stage entertaining millions of fans and racking up over a billion in profits combined, helping to uice the U.S. economy…continue reading here.
SAM ALTMAN AND AI CEMENT WORLD DOMINANCE:
When OpenAI darling Sam Altman was unceremoniously dumped as CEO, investors got an inside look at the cloaked world of the power players shaping the world’s future in artificial intelligence and the stakes at hand. Altman, who was reinstated shortly thereafter, will remain a force of the evolving revolution that could upend how Americans do everything. He shared some of his thoughts on what’s ahead…continue reading here.
WALL STREET WEEK: All three of the major market averages ended the pre-Christmas week on a high note, adding to what has been a robust December for U.S. stocks with just a few trading days remaining ahead of the New Year.
For the Dow Jones Industrial Average, Nasdaq Composite and S&P 500, it was the 8th straight week of gains…more market coverage here.
S&P 500 – YTD +23.8%
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