MARKET RECAP → Stocks dropped on Wednesday following remarks from Federal Reserve Chair Jerome Powell, indicating the bank is unlikely to lower interest rates in March. This put a damper on stocks as traders were pricing in a 73% chance of a March rate cut just a month ago. The Dow fell by over 300 points and the Nasdaq declined by 2%. FED’S RATE DECISION → ? The Federal Reserve threw cold water on the market’s hopes of a March rate cut on Wednesday, signaling a cautious approach to future rate changes amidst ongoing inflation concerns, while keeping the door open for adjustments based on economic data trends. PGA TOUR’S BIG SWING → ?️♂️ In a bold move to outdrive its rivals, the PGA Tour reportedly bagged a whopping $3 billion investment, signaling a strategic putt against the LIV Golf merger and reshaping the future of professional golf. It’s more than just a game; it’s a savvy swing in the high-stakes business of sports. HACKERS HIT A WALL → ?️♂️ The FBI clamped down on “China Volt Typhoon,” a significant cyber threat from China targeting US assets, showcasing the escalating cyber chess game and the sharpening claws of American digital defense strategies. |
|
|
| Sean Horgan Head of Investor Relations @ MoneyLion
$shorgan |
|
|
A Message From Our Sponsor |
|
|
? Steady Rates, No Cuts Yet: The Federal Reserve signaled a pause in rate hikes but clarified that rate cuts aren’t on the table yet, as inflation remains above their target.
? Policy Adjustment Language Shifted: The Fed’s statement removed previous language about raising rates to control inflation, but they’re not explicitly ruling out future increases.
? Economic Outlook Watch: Despite some economic balance, the Fed remains vigilant about inflation risks and continues monitoring for a sustainable move towards their 2% inflation goal. |
| |
|
?️♂️
A Hefty Investment: The PGA Tour reportedly secured a significant investment, rumored to be up to $3 billion. This move was a strategic counter against the LIV Golf merger, showcasing the PGA Tour’s determination to remain a dominant force in the world of golf. It reflects their proactive stance in an ever-evolving sports landscape. ?
Merger Maneuvers: Amidst the backdrop of the LIV Golf merger, this financial boost for the PGA Tour signifies a power play in the golfing world. It’s a game of deep pockets and strategic alliances, as the PGA Tour aims to solidify its position and perhaps attract or retain top-tier talent. ?
Implications for the Future: This hefty investment could reshape the future of professional golf. It may lead to increased prize money, better facilities, and more significant opportunities for players and fans alike. In the golf world’s high-stakes game, the PGA Tour seems to be hitting an ambitious shot to maintain its prestige and influence. |
| |
|
?️♂️ FBI’s Cyber Sweep: The FBI reportedly took down a major hacking operation, dubbed “China Volt Typhoon,” targeting US infrastructure. This operation signifies the ongoing cyber battle between nations and the increasing importance of cybersecurity. ? China’s Digital Fingers: The hackers, believed to be from China, were allegedly involved in sophisticated cyber espionage. This incident underscores the global nature of cyber threats and the need for international cooperation in cybersecurity. ?
Implications for Cybersecurity: The shutdown of this hacking group highlights the growing capabilities of US cybersecurity forces. It serves as a warning to other potential cyber adversaries and stresses the need for robust digital defenses. |
| |
|
Biogen drops controversial Alzheimer’s drug Aduhelm to focus on Leqembi, experimental treatments (CNBC)
Starbucks’ earnings report was weak — but Wall Street expected worse (CNBC)
Hinge founder turned down prestigious job offer out of business school to start $400 million-a-year app instead (CNBC)
Judge strikes down Elon Musk’s massive, multi-billion-dollar pay package (CNN)
Samsung upbeat about AI-driven smartphones after losing sales crown to Apple (CNN)
‘Black Swan’ author Nassim Taleb, who correctly called the 2008 financial crisis, says the U.S. is in a ‘death spiral’ over government debt (Fortune)
Meta, TikTok, and other tech companies go to Congress: all the news (The Verge) | And if you want more, be sure to check out the MoneyLion blog for tips, hacks and all things money. (MoneyLife) |
|
|
Our Favorite Tools & Resources |
|
|
The Bull vs. Bear Merchandise Promotion is a limited time campaign that begins on December 1, 2023 at 12:00 AM ET and ends on the date that there are no more Rewards. This Promotion is available to any registered MoneyLion user who is a legal resident of the 50 United States or the District of Columbia and who has reached the age of majority in their state as of the beginning of the Promotional Period. See terms and conditions here.
|
|
|
|
