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Wake me up when September ends – Markets struggled again last week after a weak manufacturing report, lower-than-expected job openings report, and falling oil prices fueled more concerns about a global slowdown. The S&P 500 Index lost 2% on 9/3, nearly a month to the day after its last 2% rout (8/5) and marking its third 2% down day in 2024. (Source: The New York Times) |
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Labor Day? More like bond day – A record 29 investment-grade companies, including Target and Ford Motors, sought new bond deals on the first business day after the long weekend. The day after Labor Day was also the busiest day for bond deals last year, with 20 companies seeking funding then. (Source: MarketWatch) |
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I guess inflation’s one thing not lurking in the Seine – Inflation in the eurozone fell to its lowest level in three years in August, setting the stage for a further cut in the European Central Bank's interest rates next month despite an Olympics-driven surge in the price of services. (Source: Reuters) |
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These chips are a little burnt – Nvidia shares slid and wiped out around $279 billion of value in the biggest one-day market capitalization drop for a US stock in history. The previous record was set by Meta, which suffered a $32 billion fall in value in one day in February 2022. (Source: NBC News) |
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Ask again when political ads are in full swing – Following President Joe Biden's withdrawal from the presidential contest, 69% of Americans say they're "more enthusiastic than usual" about voting―the highest number on record. The poll also found that 79% of US adults say they've made up their minds about who to vote for, including 83% of registered voters, leaving only 19% of US adults and 16% of registered voters undecided. (Source: Gallup) |
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I’ll take the latte and the avocado toast, tyvm – A majority of Gen Z workers (born between 1997 and 2012) say they’re on track or ahead in saving for retirement. Almost seven in 10 Gen Z-ers (68%) feel on track, along with 69% of millennials. Conversely, almost half (45%) of Gen X and working baby boomers said they had fallen behind and say they don't have a personalized retirement plan. (Source: MSN) |
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Struggling in the South – About 37% of American adults are in households that found it somewhat or very difficult to pay for typical expenses, but some states in the South and Southeast are having an especially hard time. Mississippi (49.5%), Alabama (45.5%), and West Virginia (43.5%) have the highest percentage of adults who say they're having trouble affording their basic needs. (Source: Axios) |
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Putting the friendly back in friendly skies – The number of unruly airline passengers in the US has dropped by 80% since its pandemic peak in 2021. One reason for the decline? Airlines banned alcohol on flights during the pandemic due to increased passenger misbehavior, which led to overindulgence in the airport before flights. Now that drinks are allowed in the cabin again, flight attendants have better control over passengers' alcohol consumption. (Source: BBC) |
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No bulk soup for YOU – Costco is undertaking a "Netflix-style" membership crackdown. The warehouse retailer will now require members to show their membership card and matching photo ID upon entering all of its stores in a bid to weed out non-members and card-sharing. (Source: USA Today) |
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Sure, I’ll give it a try – Paralympian Ezra Frech, who holds the high-jump world record for single-leg amputees, competed in the 100-meter race as a warm-up to his key event—and ended up edging out four other runners by a hair to take home the gold medal. Plus, his warm-up worked: He won gold in the high jump the following day. (Source: The Wall Street Journal) |
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S&P 500 Index is a market capitalization-weighted price index composed of 500 widely held common stocks.