October 24, 2023

Markets Now

Why bitcoin is surging again

Bitcoin is rocketing higher, topping $35,000 for the first time since May 2022. It’s up 20% over the past five days.  
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The Fed is losing control

America’s first inflation crisis in decades, combined with the Federal Reserve’s aggressive interest rate hikes to combat it, has made for a topsy-turvy past couple years on Main Street and Wall Street alike. It has weighed on consumers and kept investors constantly second-guessing themselves.  
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Jamie Dimon and other top bankers visit Saudi Arabia as Israel-Hamas war rages

JPMorgan CEO Jamie Dimon, Citigroup’s Jane Fraser and other top names on Wall Street are in Saudi Arabia Tuesday for an investment conference as they try to look beyond risks that the Israel-Hamas war could widen into a regional conflict and deal a new blow to the global economy.  
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GM earnings rise, sparking another plant to go on strike

General Motors’ stronger-than-expected third quarter profit was greeted by an an expansion of the strike at the company by the United Auto Workers union.  
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Shares in one of London's biggest IPOs this year have crashed 82%

Three months ago, CAB Payments stumbled when it went public on the London Stock Exchange, its shares falling nearly 10% on their first day of trading on a market that has been starved recently of new listings.  
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The Israel-Hamas war hasn't set off market panic. That doesn't mean investors aren't concerned

Investors have much on their minds these days, but there’s one thing seemingly staying under the radar.  
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Source: CNN Business

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