S&P 500 and all its sectors slid yesterday without as much as a brief visit to 4,420s at the open ... Read more S&P 500 and all its sectors slid yesterday without as much as a brief visit to 4,420s at the open – straight down through yesterday given 4,385 premium level, with Russell 2000 showing no signs of life. 10y yield of 4.50% has been reached, risk assets repricing is underway, and this is how I view the upcoming yield path, including it being only recession that can bring yields down somewhat. And given the goldilocks economy and the discussed elements behind the rise in yields – BoJ yield curve control (no move today there really), hawkish clarity of Powell‘s intentions, and returning inflation, are all set to make a Nov rate hike have better odds than a coin toss (there is still one more hike this year coming). The upcoming flash PMIs are likely to show continued improvement in the economy, which would on market‘s second thought feed into more Fed room for tightening. Note how little attention is being paid to rising TIPS (real rate of return as a competitor to stocks), profit margins and the troubled outlook for Q4 earnings calls with forward guidance especially – that‘s big picture bearish. Keep enjoying the lively Twitter feed via keeping my tab open at all times (notifications on aren't enough) – combine with subscribing to my Youtube channel, and of course Telegram that always delivers my extra intraday calls (head off to Twitter to talk to me there), but getting the key daily analytics right into your mailbox is the bedrock. So, make sure you‘re signed up for the free newsletter and make use of both Twitter and Telegram - benefit and find out why I'm the most blocked market analyst and trader on Twitter. Let‘s move right into the charts (all courtesy of www.stockcharts.com) – today‘s full scale article contains 3 of them. Gold, Silver and Miners Gold would have much trouble rising with such rates, but given that the dollar top is as many weeks away as things start to break (concern chiefly for 2024), I would be patient about signs of decoupling from yields emerging. For now, I‘m not counting on $1,960 early next week, yet silver is likely to defend $23.70 on a closing basis today. Copper did test the lower support of $3.65, and will have trouble overcoming $3.75 again. The red metal belongs among the more vulnerable ones post FOMC. Crude Oil Crude oil is still bullishly consolidating, and the tide hasn‘t shifted. Any break of $88.50 would prove temporary, and not reaching as deep as $85.50 – and the chart doesn‘t favor that deep a pullback anyway. $93 is closer, and will take a couple of weeks to reach. Thank you for having read today‘s free analysis, which is a small part of my site‘s daily premium Monica's Trading Signals covering all the markets you're used to (stocks, bonds, gold, silver, miners, oil, copper, cryptos), and of the daily premium Monica's Stock Signals presenting stocks and bonds only. Both publications feature real-time trade calls and intraday updates. While at my site, you can subscribe to the free Monica‘s Insider Club for instant publishing notifications and other content useful for making your own trade moves. Turn notifications on, and have my Twitter profile (tweets only) opened in a fresh tab so as not to miss a thing – such as extra intraday opportunities. Thanks for all your support that makes this great ride possible! Thank you, Monica Kingsley Stock Trading Signals Gold Trading Signals Oil Trading Signals Copper Trading Signals Bitcoin Trading Signals www.monicakingsley.co mk@monicakingsley.co All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice......»»

Adobe (NASDAQ:ADBE) shares traded modestly lower in early Friday trade after the software company reported results for its third fiscal ... Read more Adobe (NASDAQ:ADBE) shares traded modestly lower in early Friday trade after the software company reported results for its third fiscal quarter. While Adobe’s FQ3 earnings came in just ahead of the average analyst estimate, as well as revenue guidance, it seems that investors were more encouraged by this week’s announcement about new GenAI products and the attractive pricing. Moreover, the management delayed the introduction of FY24 guidance to December, which could be another reason why shares were down by about 2% in early Friday trade. Solid FQ3 Results and Conservative Guidance Adobe reported an adjusted profit per share of $4.09, up from the $3.40 reported for the year-ago period and $3.98 that analysts were expecting. Revenue jumped 10% year-over-year to $4.89 billion, somewhere in line with the consensus of $4.87 million. Overall, the company managed to deliver EPS growth exceeding 20 percent YoY. “Adobe delivered world-class margins and earnings in Q3, while making significant investments in our technology platforms,” said Dan Durn, executive vice president and CFO, Adobe. “Our innovation engine, global reach and strong operational rigor position us to capture the massive opportunities ahead.” Adobe generated 12% more revenue from subscriptions – $4.63 billion – than in the same year-ago period. A further $96 million was generated from product sales, as well as $163 million from the Services and Other segment. Digital Media business generated $3.59 billion, marking an 11% YoY growth. Creative sales for the quarter also rose 11% YoY to $2.91 billion. Digital Experience segment revenue was $1.23 billion. Adobe also generated a cash flow of $1.87 billion and adjusted operating income of $2.26 billion. Remaining Performance Obligations (RPO) exiting the quarter were $15.72 billion, the company said. During FQ3, Adobe repurchased approximately 2.1 million shares. Net new Digital Media annualized recurring revenue (ARR), an important financial metric for software companies, was $464 million in FQ3. Exiting the quarter, Digital Media ARR was $14.60 billion. Similarly, Creative ARR grew to $11.97 billion and Document Cloud ARR grew to $2.63 billion. For this quarter, the company guided for revenue of $5 billion (up or down 25 million), in line with the analyst expectations. If realized, it would mark a 2.2% quarter-over-quarter increase. The company expects to generate $3.685 billion, $1.26 billion, and $1.12 billion from Digital Media, Digital Experience, and Digital experience subscriptions, respectively. Adjusted earnings per share are expected to be $4.10-4.15, modestly above the $4.09 reported for the previous quarter, and above the $4.06 that analysts were expecting. Finally, Adobe sees Digital Media net new ARR at about $520 million, up from the $464 million reported for FQ3. Solidifying its Strong AI Position While Adobe shares reacted somewhat negatively to the company’s FQ3 report and the guidance that still doesn’t incorporate a meaningful boost from the AI products, investors did react positively to the company’s announced AI pricing. The software company released several updates earlier this week, with the most important being the commercial release of Firefly, Adobe’s family of creative generative AI models. As of this week, Adobe Firefly is now natively integrated into Adobe Express and Photoshop and Illustrator in Adobe Creative Cloud. “We are unleashing a new era of AI-enhanced creativity around the world with innovations across our product portfolio,” said Shantanu Narayen, chair and CEO, Adobe. “The recent launches of Firefly, Express, Creative Cloud and GenStudio make Adobe magic available to millions of users.” With the commercial release, Adobe has introduced several noteworthy features and solutions. For example, the release includes a new Firefly web application, which serves as a creative playground for exploring AI-assisted creative expression. Moreover, Adobe has introduced the Adobe GenStudio solution, designed to address the content supply chain needs of enterprises. This solution is aimed at optimizing and streamlining content creation and management processes within large organizations. “Firefly’s breathtaking capabilities combined with the rich tooling of our Creative Cloud apps, Express, the Firefly web app and Adobe Experience Cloud, give creators unparalleled opportunities to work with generative AI in new, rich and productive ways,” said David Wadhwani, president, Digital Media Business at Adobe. Adobe listed brands like Accenture, IHG Hotels & Resorts, Mattel, NASCAR, NVIDIA, ServiceNow, and Omnicom as companies it cooperates with to explore how Firefly can help their businesses. After the recent updates, Adobe shares rose by 2% on Wednesday. Analysts also responded favorably to the company's newly announced GenAI pricing strategy, which utilizes a multi-faceted pricing model. Once subscribers have exhausted the plan-specific allocation of "fast" Generative Credits, they will still have the option to generate content at slower speeds. Adobe is also introducing a paid subscription plan for Firefly users, starting in November 2023, which will enable them to purchase additional "fast" Generative Credits. This subscription pack offers users a way to access more Generative Credits and continue their creative work at a faster pace when needed. According to BMO’s survey, Adobe users are willing to pay a premium for Creative Cloud with generative AI capabilities. As a result, analysts anticipate that the incorporation of generative AI into Creative Cloud should result in a net increase in the number of Creative Cloud users. BMO raised its price target on Adobe stock to $640 per share. "We believe that Adobe's strategy will include price increases of 10% to 15%, though lower at the consumer level, and adding new users in all categories. Further, we think Adobe will likely offer some form of freemium Firefly SKU to generate pipeline," BMO analysts said in a report. Adobe shares are up 64% year-to-date. Summary Adobe shares were exchanging hands candidly lower on Friday after the software company offered in-line revenue guidance for this quarter and pushed back the introduction of FY24 guidance to December. On the other hand, shares rose earlier this week after Adobe announced the commercial release of Firefly, which analysts expect will increase the number of Creative Cloud users. About Tyler Corvin Tyler Corvin is the senior trader behind The Trading Analyst’s options trading desk. For 15 years, Tyler worked as a senior derivatives trader to conduct pre-trade analysis, trade execution, hedging, improvements to pricing and risk management infrastructure with a peculiar focus on extensive data and statistical analysis. He was responsible for the management of risk, liquidity, and exposure. Now, he helps traders learn how to trade options by scanning for options signals and alerting The Trading Analyst community of options trades worthy of further examination......»»

Despite experiencing record sales during much of the first half of the year, electric vehicles (EVs) are now being pulled ... Read more Despite experiencing record sales during much of the first half of the year, electric vehicles (EVs) are now being pulled to the center of the political debate, as the run-up to the 2024 presidential election begins to intensify. During the second quarter of the year, a record-shattering 300,000 fully electric battery-operated vehicles hit American roads, according to Cox Automotive, a global automotive and systems technology company. The quarterly sales represented a 48.4% increase compared to the second quarter of last year, and the highest of any other period. However, new presidential hopefuls in the GOP are now slamming the Biden-Harris Administration's EV transition plans, as some have promised to reverse existing EV subsidies, slash America’s carbon-neutral goals, and further reduce congressional attention aimed at creating more environmental-forward policies. The Race To De-Electrify America’s Automotive Industry For quite some time already, there has been significant transformation taking place in the automotive industry, as numerous legacy car manufacturers have thrown their weight behind the widespread electrification of new vehicle lineups. More than this, the Federal government, with President Biden at the helm, has introduced a series of new policy changes in recent years in support of more robust electric vehicle manufacturing in the U.S. The most significant perhaps, was the Inflation Reduction Act (IRA) which changed existing tax credits and subsidies for EV buyers and manufacturers. However, now that the Republic presidential campaign has taken off in full swing, with former President Trump leading the polls, despite facing a flurry of allegations, many republican candidates are not as supportive of meeting Biden’s EV and carbon-emission targets. The most recent Republican presidential contender to speak out against America’s electric car transition was Florida Governor, Ron DeSantis. Speaking at an event in Midland, Texas, considered to be the heart of oil country, DeSantis pledged that he would not only slow the EV transition but further withdraw the U.S. from existing environmental agreements, Reuters reported. DeSantis isn’t the first to make such remarks. The former South Carolina Governor, Nikki Haley, who is currently backed by 6% of the Republican party has also slammed existing EV subsidies. During the first republican debate, Haley said that while she believes that climate change is a real threat, voters must look towards China and India to reduce their carbon emissions if they want to see real environmental change. She further went on to state that Biden’s new climate policies have helped put more money into China’s pockets, only further adding to the current environmental crisis. Vivek Ramaswamy, who’s currently in third place on the polls, behind DeSantis, and ahead of Haley, made his position on EV subsidies clear earlier in the year when he Tweeted, “End electric vehicle subsidies. If consumers want EVs, they’ll be fine without the subsidies. And if not, that means people don’t want EVs. It’s not too complicated.” Ramaswamy is currently the youngest republican candidate and is building his campaign in an attempt to capture younger republican voters, combatting the “woke” agenda, and further exposing corruption in the government. Where’s Trump on all of this? Well, the former president has taken a somewhat backseat during most recent Republican debates, missing not only the first debate in August, but is also planning to skip the upcoming debate which will be held at the Ronald Reagan Presidential Library, in Simi Valley, California scheduled for later in September. Instead, Trump is planning to travel to Detroit, hoping to deliver a speech to current and former union members. This comes as thousands of United Auto Workers (UAW) have downed their tools, and have gone on strike as a deal between carmakers and UAW has yet to be reached. A Blue And Red Tug And Pull For EVs It’s not only Republicans who have felt America’s strategy to become a global leader in EV production and see more battery-powered cars on the road has gone according to plan. In a statement by Jon Reinish, a Democratic Strategist last year, he says that despite the government’s efforts to combat climate change and bring to light the importance of progressive environmental policies, there’s still a lot the Democrats can do to make EVs more accessible. “This sort of elitism problem is real because these things are very high priced right now, so Democrats should also be creating some sort of an environment through many different channels to make these much more accessible,” Reinish told The Hill. However, it’s important to consider that Reinish was largely commenting on the state of the economy at the time, when consumers were seeing prices soaring, and inflation was at a 40-year high. While there has been a significant increase in new EV sales across the U.S. in recent years, many existing models continue to outprice motorists. The most affordable model currently on the market is the 2023 Chevrolet Bolt EV, with a sticker price of $19,995, and only offers a range of 259 miles. Even Tesla remains relatively pricey, considering the company recently embarked on a price war with legacy automakers. Currently, the most affordable of Tesla’s is the Model 3, priced at $40,420, and includes nearly zero upgrades. The EV has an estimated mileage of 333 miles per full charge. Higher prices for newer, and used electric cars aren’t the only thing that’s hampering motorists' optimism.  A lack of adequate charging infrastructure in some cities across the country has also led to slower adoption. “Perhaps the problem isn’t necessarily how politicians are feeling about widespread electrification, but rather the tight economic conditions many consumers are experiencing at the moment,” says Matthew Hart, founder of Axlewise, an automotive support and information blog. Despite inflation reluctantly trending downwards, countless consumers have had to tighten their purse strings in recent months as the cost of living continues to take a bigger bite out of consumer’s disposable income. In a Gallup poll from earlier this year, nearly 41% of surveyed U.S. adults said that they would not buy a new electric car. Extrapolated on a bigger spectrum, this would represent nearly 106 million Americans who are currently against Biden’s plans to create a greener and more efficient economy. The majority of those opposed to the idea of buying an electric vehicle - 71% - identified as Republicans, while only 17% identified as Democrats according to the Gallup poll. America’s idea of building a green economy, through rapid auto electrification, might soon become a pipeline dream, as new presidential hopefuls look to take a more aggressive stance at wiping Biden’s Green Plans out the door. This leaves many to wonder how these events will unfold once there’s a new leader in The White House, and what this could mean for the global effort against climate change......»»

The state of fundraising is undergoing a significant transformation with the advent of cryptocurrency. Traditional methods of raising funds often ... Read more The state of fundraising is undergoing a significant transformation with the advent of cryptocurrency. Traditional methods of raising funds often involve lengthy processes and intermediaries, leading to inefficiencies and delays. The emergence of cryptocurrency, however, has transformed the landscape by providing a streamlined and decentralized approach. Cryptocurrency enables individuals and organizations to raise funds directly from global participants without the need for traditional financial institutions. “The ease of participation and global reach offered by cryptocurrencies have democratized fundraising opportunities, empowering a wider range of projects to secure financial support,” said Kadan Stadelmann, CTO of Komodo Platform. Transforming Fundraising Cryptocurrency has emerged as a disruptive force that is changing the way fundraising is conducted. With its decentralized and secure nature, cryptocurrency offers several advantages over traditional fundraising methods. It enables individuals to make direct donations to causes they believe in, eliminating the need for intermediaries like banks or payment processors. This ensures transparency and reduces transaction costs significantly. Moreover, cryptocurrency opens up global fundraising opportunities by overcoming geographical barriers and allowing donors from around the world to contribute seamlessly. It also provides a level of anonymity for donors who may prefer to keep their identities private while supporting charitable causes. Furthermore, cryptocurrency's smart contract capabilities have introduced innovative fundraising models like Initial Coin Offerings (ICOs) and Decentralized Autonomous Organizations (DAOs). These models offer unique investment opportunities for individuals interested in supporting projects or startups through digital tokens. Exploring The Benefits “One significant advantage of cryptocurrency in fundraising is the elimination of intermediaries, such as banks or payment processors, which often charge hefty fees and create delays in transactions,” said Stadelmann. “With cryptocurrency, funds can be directly transferred from donors to organizations with minimal fees and instant settlement.” Moreover, the transparency and immutability of blockchain technology have revolutionized accountability in fundraising efforts. Donors can easily track their contributions on the blockchain, ensuring that their funds are being utilized for their intended purposes. This increased transparency not only fosters trust but also helps prevent fraud or misappropriation of funds. Additionally, cryptocurrencies have opened up fundraising opportunities on a global scale. “Traditional methods often faced limitations due to geographical constraints or regulatory barriers,” said Stadelmann. “With cryptocurrencies being borderless and decentralized by nature, however, organizations can reach potential donors worldwide without any restrictions.” The Rise Of Crypto The rise of cryptocurrencies has brought about a significant transformation in the world of fundraising. As traditional methods struggle to keep up with the evolving digital landscape, organizations are increasingly turning to cryptocurrencies as a means of raising funds. “The current state of fundraising with crypto is marked by its immense potential and disruptive nature,” said Stadelmann. “Cryptocurrencies offer several advantages over conventional fundraising methods.” They provide fast and secure transactions, eliminating the need for intermediaries and reducing transaction costs. Moreover, they enable global participation, allowing individuals from different corners of the world to contribute easily. “Additionally, cryptocurrencies offer transparency through blockchain technology, ensuring that donors can track their contributions and verify their impact,” he said. “Looking ahead, the future potential of crypto in fundraising appears promising. As more people become familiar with cryptocurrencies and their benefits, we can expect increased adoption in the fundraising space.” Furthermore, advancements in blockchain technology may enable new models for decentralized crowdfunding platforms that further empower both organizations and individual donors. Liquidity Bootstrapping Protocols (LBPs) Liquidity Bootstrapping Protocols (LBPs) have emerged as a popular mechanism for conducting token sales on the Balancer platform. LBPs offer a unique approach to token distribution by dynamically adjusting the price of tokens based on market demand and supply. This innovative method aims to address some of the challenges faced by traditional token sales, such as sudden price fluctuations and inadequate liquidity. “LBPs are designed to foster fair and efficient token distribution, providing an opportunity for both small and large investors to participate in a project's initial stages,” explains Stadelmann. “By allowing market forces to determine the token price, LBPs create a more transparent and inclusive environment for buyers. Understanding LBPs is crucial for anyone interested in participating in token sales on Balancer. This comprehensive overview will delve into the intricacies of LBPs, exploring their mechanisms, advantages, and potential risks.” LBPs, such as those implemented on the Balancer platform, provide a fair and efficient way to bootstrap liquidity for new tokens. In recent years, Liquidity Bootstrapping Protocols (LBPs) have gained significant popularity as a method for conducting token sales. Balancer, a decentralized automated portfolio manager and liquidity provider built on Ethereum, has emerged as one of the leading platforms for implementing LBPs. Advantages And Limitations Of LBPs LBPs offer several advantages in liquidity provision for the Balancer protocol. Firstly, LBPs provide an efficient mechanism for fair token distribution during the initial stages of a project. By allowing users to gradually acquire tokens at a predetermined price, LBPs mitigate issues related to front-running and ensure a more equitable distribution. Moreover, LBPs enable projects to bootstrap liquidity in a decentralized manner. “Unlike traditional methods that rely on centralized exchanges or market makers, LBPs incentivize users to contribute liquidity by offering them tokens at a fixed ratio,” said Stadelmann. “This fosters a more decentralized and community-driven ecosystem around the Balancer protocol. There are certain limitations associated with LBPs as well. One limitation is that LBPs are susceptible to manipulation by large players who can influence token prices during the initial stages of the protocol.” Crypto Is Still Changing How The World Fundraises With blockchain technology ensuring transparency and security, donors can have confidence in their contributions while maintaining their anonymity if desired. Furthermore, the use of smart contracts in cryptocurrency fundraising allows for automated execution of predetermined conditions, eliminating the need for manual oversight. “This not only enhances efficiency but also reduces costs associated with intermediaries,” reiterates Stadelmann. “In addition, cryptocurrency fundraising has opened doors for smaller organizations and individuals who may have struggled to access traditional funding sources.”.....»»

The expanded child tax credit proved an important weapon in the fight against poverty when it was introduced a couple ... Read more The expanded child tax credit proved an important weapon in the fight against poverty when it was introduced a couple of years back. Now that the expanded child tax credit has expired, the latest piece of data suggests that the child poverty rate has again surged to pre-pandemic levels. Several lawmakers have pushed for expanding the child tax credit over the past couple of years, but with little success so far. Now, support is again growing for expanding the child tax credit, with Republican Senator Jason Smith signaling support for making the expanded child tax credit permanent. Making The Expanded Child Tax Credit Permanent: What'’'s The Need? The expanded child tax credit, part of the 2021 federal COVID relief package, helped lift about 3 million children out of poverty. The expanded child tax credit expired at the end of 2021, but since then, several attempts have been made to renew it, but with little success. Almost 2.5 years later, new census data released last week showed that child poverty has surged to pre-pandemic levels. The latest Census Bureau report found that after dropping to its lowest point in 2021, the child poverty rate witnessed the steepest rise in its history in 2022. This new piece of data has reignited the debate on the need to make the expanded child tax credit permanent, with Senator Smith supporting it. On Wednesday, Smith, who is also the chair of the House Ways and Means Committee, hinted at his intention to make the expanded child tax credit permanent. "That's something that I have always supported. I had the legislation to make permanent the $1,000 to $2,000 in child tax credit and pushed for it," Smith said at a Punchbowl News event. "It's extremely important to working-class Americans." Smith believes the child tax credit could command bipartisan support. "I think there is common ground," Smith said. Florida Sen. Marco Rubio also supports expanding the child tax credit, but unlike most others, Rubio wants the expanded credit to include work requirements as well. Will it get enough votes? Despite growing support for making the expanded child tax credit permanent, particularly among Democrats, it will be a challenge to gather enough votes to push it through Congress. Some polls, however, suggest cross-party support for expanding the child tax credit. Earlier this year, a Zero to Three/Morning Consult poll found that 94% and 77% of parents who voted for a Democrat and a Republican in 2022, respectively, said the child tax credit issue was an important priority. A separate poll conducted from April 27 to May 1 and covering 811 parents of children ages 0 to 3 found that 85% of respondents feel it is important for Congress to expand the child tax credit......»»

Major U.S. companies and business groups are celebrating the new collaboration and commitments among more than two-dozen U.S. governors, who ... Read more Major U.S. companies and business groups are celebrating the new collaboration and commitments among more than two-dozen U.S. governors, who have pledged to work together to advance strategies that eliminate emissions from buildings and collectively quadruple heat pump installations by the end of the decade.   A New State-To-State Collaboration For Clean Building Following the announcement today by the 25 governors in the U.S. Climate Alliance at Climate Week NYC 2023, more than a dozen companies, institutions, and trade groups released a letter today supporting new state-to-state collaboration. The signatories to the letter include several building solutions leaders, such as JLL, Johnson Controls, NAESCO, Schneider Electric, Sealed, Siemens, Trane Technologies, and ZenniHome, as well as other major businesses such as Burton, CommonSpirit, DSM, Grove Collaborative, Legacy Vacations and Resorts, Mass General and San Francisco Airport.   “Bold action by state leaders is urgently needed to send clear, long-term economic signals to manufacturers, developers, building and business owners, and residents alike. Building decarbonization is essential to our ambitious climate goals and overall air quality and public health,” the letter reads. “We strongly support the execution of multi-state collaborative approaches to develop and implement market-enabling initiatives that unlock the long-term savings, and climate and clean air benefits of building decarbonization.”  Residential and commercial buildings are responsible for 40% of annual energy consumption, making it a leading cause of climate and air pollution. Energy efficiency and building electrification policies are critical to reducing pollution and its harmful effects.  The signatories of the letter emphasized support for state policy efforts that incorporate specific building sector initiatives within their climate action plans, including gas transition planning, expanding energy efficiency and electrification programs, accelerating heat pump adoption, and approving more ambitious energy codes, equipment standards, and building performance standards. Companies recognize these policies are vital both to reduce the risks that climate change poses to their facilities, supply chains, and workforces, and to enhance efficiency and electrification efforts that lower energy costs.  “Clean, energy efficient buildings can provide important cost saving benefits for households and businesses, while reducing pollution that harms communities and the climate,” said Savannah Bertrand, policy outreach manager, Sealed. “Sealed supports innovative policies that help people make their homes more comfortable, healthy, and sustainable, and we are excited that so many of the nation’s governors are committed to advancing these solutions.”  “As a climate innovator, Trane Technologies understands the financial and environmental benefits of sustainable energy efficient solutions for heating and cooling of the built environment. We applaud governors across the U.S. for working together on programs and policies that will help enable policy certainty,” said Paul Camuti, executive vice president and chief technology and sustainability officer of Trane Technologies. “We remain committed to working with these states, and we look forward to providing them with critical insights from our industry to help drive adoption of best practices.”  As recent federal climate legislation - highlighted by the Inflation Reduction Act and the Infrastructure Investment and Jobs Act - sparks increasing investment into climate solutions across the U.S., state policy is proving instrumental to ensure new programs are properly implemented and to maximize private-sector activity within their states. With federal funding available to states for energy efficiency and other clean building programs, it is especially important for states to design robust policy frameworks that ensure a strong return on investment in the building sector.  “State policy is critical to accelerating the adoption of technologies that are good for the climate and good for business. Companies support initiatives that encourage collaboration across state lines to develop best practices that tackle the climate crisis,” said Alli Gold Roberts, senior director of state policy, Ceres. “Ceres and the companies we work with applaud U.S. governors for their efforts to cut pollution from the building sector and look forward to collaborating on ambitious solutions to tackle this important sector.” About Ceres Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews......»»

Bank Of England’s Decision Leads To FTSE 100 Opening In The Red The FTSE 100 has opened in the red ... Read more FTSE 100 dips and US sees declines amid higher-for-longer interest rate fears Retail sales rise 0.4% in August as weather improves UK consumer confidence rises to 20-month high CMA edges closer to approving Microsoft-Activision deal Pound falls to lowest level in six months following BoE interest rate decision Bank Of England's Decision Leads To FTSE 100 Opening In The Red The FTSE 100 has opened in the red as investors come to terms with the Bank of England’s decision to hold interest rates at their current levels. While the decision looks likely to offer some respite to soaring mortgage rates, the fact is that borrowing costs are still an onerous burden and there are now questions being asked about the rate at which heat will be sapped out the economy. This week’s surprise inflation row-back has given room for policymakers to trial a wait-and-see approach, but further increases are still very much on the table. Over in the US, Wall Street has suffered a tough trading session. The Dow fell 1.08%, the S&P 500 lost 1.64% and the Nasdaq Composite shed 1.82%. Interest rate anxiety made itself known through the fact that real estate, consumer discretionary and materials were the biggest laggards, although all 11 S&P sectors headed into negative territory. Fuelling the fire is an unexpectedly hot jobs data report which showed far fewer people filing for unemployment in the US than expected, increasing the volume on the narrative that the Fed’s poised to hit the ‘increase’ button at the next meeting. The pound has sunk to its lowest level in six months, as the interest rate pause has seen pound investors head for the emergency exit. Higher interest rates support currency because they attract foreign investment - investors buy UK and sterling denominated assets in the hopes of generating a greater return. The shift in narrative to one of an interest rate pause is an unexpected change of course following the UK’s torrid economic track record so far this year.  Rise In Retail Sales And Consumer Confidence UK retail sales have edged up 0.4% following a sharp drop in July caused by wet weather. This coincides with news that UK consumer confidence has reached a 20-month high, with GfK’s consumer confidence index showing a four point rise to a net minus 21. This is a positive development for retailers and the hospitality industry, but there’s still some way to go before things are back on a totally fair footing. Retail sales have been flattered by an improvement in food sales as well as clothing – the latter of which was supported by NEXT plc (LON:NXT)’s recent upgrade – but overall the mood is still subdued. We’re not in a situation where UK consumer discretionary is in a safe spot, and further upsets are expected as the hiking cycle plays out. A continued preference for discount food and clothing offerings is likely to remain order of the day – a slightly less nervous consumer isn’t the same as a jubilant one. Microsoft-Activision Deal Set To Be Approved The UK’s Competition and Markets Authority has edged closer to giving Microsoft Corp (NASDAQ:MSFT) approval to buy Activision Blizzard Inc (NASDAQ:ATVI). The CMA’s concerns centred on whether the deal would harm competition in cloud gaming in the UK. The new terms of the deal from Microsoft show it won’t buy the cloud gaming rights held by Activision, and these will instead be sold to Ubisoft Entertainment. This eradicates concerns that Microsoft would be able to gatekeep Activision’s content and withhold it from rivals. The loss of the cloud gaming rights is not an ideal concession for Microsoft to have to make, but is necessary collateral if the deal is to be waved through. This looks to be the final bump in the road and approval should be just around the corner in what is ultimately a win for Microsoft.” Article by Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown.....»»

The British pound (GBP) lost half a percent against the U.S. dollar on Thursday after the country’s central bank decided ... Read more The British pound (GBP) lost half a percent against the U.S. dollar on Thursday after the country’s central bank decided not to raise its benchmark interest rates by 25 basis points. The Monetary Policy Committee (MPC) of the Bank of England (BoE) voted by a narrow margin of 5-4 to keep the Bank Rate at 5.25%. Four members of the committee voted to raise rates to 5.5%. This decision marks the first time since December 2021 that the Bank of England has not increased interest rates. The GBP/USD fell nearly 0.6% on Thursday to dip below the 1.23 mark. This major currency pair has been trading in a clear downtrend in recent weeks after hitting a 15-month high back in July. The pound has lost nearly 7% in about 2 months, mostly due to the greenback’s strength. More importantly, GBP/USD now trades below important technical levels, which may invite more weakness. On the downside, the next cluster of important support levels is located in the range of 1.19-1.21. On the upside, a potential recovery above 1.25 would mean that the downtrend has likely ended. BoE Decision The MPC unanimously decided to reduce the stock of UK government bond purchases held for monetary policy purposes by £100 billion over the next twelve months, bringing the total to £658 billion. “There are increasing signs of some impact of tighter monetary policy on the labor market and on momentum in the real economy more generally. Given the significant increase in Bank Rate since the start of this tightening cycle, the current monetary policy stance is restrictive,” BoE said in a statement. The statement also noted that “there have been some further signs of a loosening in the labor market,” although it still remains tight by historical standards. The central bank also reduced its forecast for economic growth in the third-quarter period to just 0.1%, down from the previous forecast of 0.4%. Weakness in the housing market was noted as a clear sign of economic weakness. While there has been a notable growth in workers' pay, the BoE expressed concerns that this growth was not supported by other labor market indicators, suggesting that policymakers anticipate it to slow down soon. Despite the pause, the MPC reiterated its message that it was prepared to raise borrowing costs again if needed. "Further tightening in monetary policy would be required if there were evidence of more persistent inflationary pressures," the statement added. The Rise in Prices Slows Down The central bank also reiterated its previous stance that monetary policy would be "sufficiently restrictive for sufficiently long" to get inflation back to its 2% target. In August, the UK CPI rose 6.7% year-over-year, much slower than the expected 7% increase. On a monthly basis, the CPI increased by 0.3%, which was below the expectations of economists who had anticipated a 0.7% month-on-month rise. “The largest downward contributions to the monthly change in both CPIH and CPI annual rates came from food, where prices rose by less in August 2023 than a year ago, and accommodation services, where prices can be volatile and fell in August 2023,” the Office for National Statistics said in a press release. The core CPI, which excludes volatile food, energy, alcohol, and tobacco prices, stood at 6.2% for the 12 months ending in August, marking a decrease from 6.9% in July. The goods rate increased slightly from 6.1% to 6.3%, but this increase was more than offset by a significant slowdown in the services rate, which decreased from 7.4% to 6.8%. Following yesterday’s release of the latest inflation figures, the market pricing for a pause in interest rate hikes by the Bank of England increased significantly, rising from 20% to nearly 50%. Hence, investors were pretty much undecided on whether the BoE will hike or not as inflation seems to be slowing down faster than previously anticipated. The BoE highlighted in its Thursday statement that the CPI fell 0.4% below expectations at the time of the Committee’s previous meeting. The CPI print triggered the exchange of open letters between the Governor and the Chancellor of the Exchequer in the context of the latest inflation figures. According to regulation in the UK, if inflation deviates by more than 1 percentage point from the target in either direction, the Governor of the Bank of England is obligated to send an open letter to the Chancellor of the Exchequer, explaining the reasons for the deviation from the inflation target. The Governor is also required to outline the measures the BoE is implementing to return inflation to the target level. “Since my previous letter, sent in June, there have been increasing signs that the restrictive stance of monetary policy is working to bring inflation down. This is good news,” Governor Andrew Bailey wrote in a letter. “I can assure you that the MPC will stay the course and keep monetary policy sufficiently restrictive for sufficiently long to return inflation to the 2% target in the medium term – in line with the primacy of price stability in the Government’s monetary policy objective described in the MPC’s remit. Low and stable inflation is the foundation of a healthy economy.” Summary The Bank of England decided today to halt its streak of 14 consecutive interest rate hikes in response to new data indicating that inflation is rising slower than expected. Following this decision, the British pound fell by 0.5% against the U.S. dollar, hitting a fresh 6-month low......»»

A quick Google Trends search for terms like “bitcoin” or “crypto” quickly shows you how people have lost interest in ... Read more A quick Google Trends search for terms like “bitcoin” or “crypto” quickly shows you how people have lost interest in the asset class. The stagnant price action for major crypto assets like bitcoin (BTC), ether (ETH) and solana (SOL) has lulled many into a state of boredom-induced capitulation. However, certain recent events in crypto — especially those regarding crypto’s integration into traditional finance systems — are reason to believe that the table is being set for the next crypto bull run. From crypto ETFs (exchange-traded funds) that may be on the horizon to new use cases for stablecoins on various blockchains, broader crypto adoption seems right around the corner. And the ones who will likely benefit most from this broader adoption are those who will put the work in and invest while things are boring, as opposed to those who only become interested again once a new bull market is in full swing. So, snap yourself out of that apathetic state and take heed of the following happenings in crypto while everyone else is nodding off. The Spot Bitcoin ETF It’s been over 10 years since the Winklevoss twins — co-originators of Facebook and owners of the Gemini crypto exchange — first filed an application for a spot bitcoin ETF. And, finally, it seems we’re on the verge of getting one. Last week at a small event at Pub Key, a bitcoin-themed bar in New York City, James Seyffart, an ETF analyst at Bloomberg, shared that he believes there’s a 75% chance that the US Security and Exchange Commission (SEC) will approve a spot bitcoin ETF before the year is out. If Seyffart is right, then chances are you have less than four months to buy some bitcoin before the likes of a major financial institution like BlackRock or Fidelity offers a securitized version of the asset to everyone in America who has a 401(k), an IRA or any sort of traditional brokerage account. Seyffart believes that billions of dollars will likely flow into bitcoin upon the issuance of the spot ETF, which means we could see a rise in BTC’s price in the not-too-distant future. An Ether (Ethereum) Futures ETF Some have speculated that an ether futures ETF could come to market even before the spot bitcoin ETF does. Asset management firms Ark Invest and 21 Shares have both filed with the SEC to bring such an ETF to market, the news of which caused ETH’s price to spike by over 10%. While this type of ETF wouldn’t require the settlement of funds in ether, it would further legitimize the asset’s status in the eyes of institutional investors, which could be a boon for the price of ETH in the long run. PayPal Issues A Stablecoin On Ethereum In August, PayPal announced that it would issue a US dollar-pegged stablecoin — PayPal USD (PYUSD) — on ethereum. Since PayPal has over 400 million users, this stablecoin could quickly gain traction. The more people who use this stablecoin, the more ETH has to be used to fuel these transactions. And the more ETH is used to pay for transactions, the more valuable the asset tends to become, as ETH is predominantly valued based on its network effects — or the number of people using the asset. Visa Will Use The Solana Blockchain To Settle Stablecoin Transactions In early September, Visa announced it would settle transactions using USD Coin (USDC) on the solana blockchain. The credit card company plans to employ the combination of USDC and solana to “modernize cross-border money movement,” according to a press release from Visa If even a fraction of the over 250 billion transactions settled on Visa per year is settled on solana, we should see an increase in the value of SOL, the native currency of solana, which fuels transactions on the network. While some crypto exchanges have delisted SOL this year due to regulatory uncertainty, others haven’t. See which of the top crypto exchanges still support SOL if you’re looking to get your hands on some in the wake of this Visa news. Dare To Be Different While the happenings listed in this piece shouldn’t necessarily be an indication to start purchasing crypto assets en masse, they should remind you that while crypto markets have been sleepy, the traditional world of finance is beginning to embrace crypto, which will likely be good for the asset class in the long run. If you want to capitalize on this trend of crypto being more broadly adopted, you may want to take action now while the market is quiet. Most will do the opposite, which is why most crypto investors lose money, especially when new to the space. The goal here is to not be like most. It’s to pay attention while most are looking away, so you have the chance to ride the entirety of the next bull run wave as opposed to just jumping on it as it’s starting to crest. About Frank Corva Frank Corva is a cryptocurrency writer and analyst for digital assets at Finder. Frank has turned his hobby of studying and writing about crypto into a career, with a mission of educating the world about bitcoin and other digital assets. As someone who’s lived and traveled all over the globe, he loves the idea of the world being connected by a neutral, apolitical and borderless network and digital currency like bitcoin (BTC)......»»

Key Points For a conservative investor seeking exposure to the equity markets while prioritizing stability and long-term wealth preservation, investing ... Read more Key Points Some ETFs offer diversification, cost-effectiveness, and liquidity, making them appealing to conservative investors looking for stability and long-term wealth preservation. The Vanguard S&P 500 ETF (VOO) provides cost-effective exposure to large US companies, closely mirroring the S&P 500 Index's performance. The Utilities Select Sector SPDR Fund (XLU) offers defensive qualities and income generation with a 3.22% dividend yield. GLD is an ETF that serves as a stable, safe-haven asset to hedge against inflation. 5 stocks we like better than Vanguard S&P 500 ETF For a conservative investor seeking exposure to the equity markets while prioritizing stability and long-term wealth preservation, investing in Exchange-Traded Funds (ETFs) or indices can be an attractive strategy and might make the most sense. Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. ETFs offer a unique combination of diversification, cost-effectiveness, and liquidity, making them an ideal choice for those who prefer a buy-and-hold approach. When selecting an ETF, several important factors must be considered, including the net expense ratio, diversification of holdings, a potential dividend yield, and overall liquidity.  Let's take a closer look at three ETFs: Vanguard S&P 500 NYSE: VOO, Utilities Select Sector SPDR Fund NYSE: XLU, and SPDR Gold Shares NYSE: GLD. Each of these funds may be a suitable choice for conservative investors looking to build and maintain wealth for the long term and gain exposure to a basket of blue chip stocks.  Vanguard 500 Index Fund ETF Vanguard 500 Index Fund ETF (NYSEARCA:VOO) is an ETF aiming to mirror the S&P 500 Index, one of the most widely followed benchmarks for the U.S. stock market. VOO offers investors a cost-effective and diversified way to invest in large US companies, closely matching the index's composition and performance. Year-to-date, VOO is up 16.22%, consolidating near its 52-week highs. Since the launch of the ETF in 2011, it has risen almost 304%, not including dividends. The ETF currently has a 1.46% dividend yield and a meager net expense ratio of just 0.03%. VOO has a market capitalization of $326.67 billion and an average volume of 3.78 million shares. Conservative investors will appreciate VOO for its stability, as it mirrors the overall market's performance, providing exposure to well-established and financially stable companies, predominantly in the U.S., with a 95.9% exposure.  Utilities Select Sector SPDR Fund The Utilities Select Sector SPDR Fund (NYMARKET:XLU), which focuses on the utilities sector, is known for its defensive and income-generating characteristics. The fund aims to match the performance of the Utilities Select Sector within the S&P 500 Index. This sector includes companies in electric utilities, multi-utilities, independent power producers, energy traders, and gas utilities. The ETF is in the red year-to-date, down just over 9%. However, the ETF is up almost 27% over the last five years, not including its current dividend yield of 3.22%. The net expense ratio of XLU is considerably higher than VOO, at 0.10%. XLU has a market capitalization of just under $15 billion and an average daily volume of 13.24 million shares.  The XLU tends to offer higher dividend yields than broader market ETFs, which might make up for the less impressive growth and share appreciation of other sectors.  SPDR Gold Trust SPDR Gold Trust (NYMARKET:GLD) is an ETF that tracks the price of gold, a precious metal widely considered a safe-haven asset. Conservative investors have often turned to GLD for its stability to hedge against inflation, currency fluctuations, and overall market volatility.  While the ETF does not offer a dividend and possesses a relatively high net expense ratio of 0.40%, its recent and longer-term performance might compensate for it. Year-to-date, the ETF is up almost 6% and nearly 16% over the last year. GLD has risen almost 57% in the previous five years, providing an attractive return to its long-term shareholders.  As an asset uncorrelated with equities, GLD could provide added diversification and reduce overall portfolio risk. Should you invest $1,000 in Vanguard S&P 500 ETF right now? Before you consider Vanguard S&P 500 ETF, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Vanguard S&P 500 ETF wasn't on the list. While Vanguard S&P 500 ETF currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys. The post 3 ETFs for the Conservative Investor to Buy and Hold appeared first on MarketBeat......»»

Key Points Consumer staples (NYMARKET:XLP) stocks are down 6.5% from their July highs and more than 10% from the 2022 ... Read more Key Points Consumer Staples stocks are down compared to the broad market, but that may be about to change.  These stocks offer value and yield and have a solid outlook for sustained performance and payouts.  The most undervalued names in the group stand to offer the most significant returns over the next decade.  5 stocks we like better than Altria Group Consumer staples (NYMARKET:XLP) stocks are down 6.5% from their July highs and more than 10% from the 2022 peaks and may move lower. The caveat is that the sector is trading near the bottom of a range, above critical support, and there are signs of bullish activity in the market. This suggests a buying opportunity, but which are the best to buy? Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. The stocks on this list turned up on a screen using Marketbeat's Stock Screener and include the most undervalued, highest-yielding consumer staples names with double-digit upside potential.  The takeaway is that these stocks may be too cheap to ignore. With the Fed nearing the peak of the rate-hiking cycle, the market-beating yields and outlook for distribution growth and capital appreciation provide an opportunity that will outpace the bond trade and the broad equity market over the next decade.  Altria - A Cash Flow Machine and Dividend King  Altria (NYSE:MO) isn't an easy stock for every investor to hold, but let's face it: the company makes money and returns capital to shareholders, and it is unlikely to go out of business soon. Regarding its investment status, the stock trades at less than half the broad market average, about 8.5X its earnings outlook, and pays more than 9% in yield, with shares down more than 20% from the 2022 highs.  Takeaways from the last earnings report include a widening margin and better-than-expected earnings despite a downtick in volume. Guidance was reaffirmed for EPS to grow by low single digits in 2023; analysts expect the bottom line growth to accelerate to the mid-single digits next year. Altria pays about 75% of its earnings, which is high but offset by the EPS growth outlook. The question is if the company can shift to cannabis successfully. Efforts to date have met with losses, but that is due primarily to the state of federal legalization.  Medifast - Slimmed Down to an Attractive Valuation  Medifast (NYSE:MED) produces weight loss and healthy-living food products and has shed much of its valuation. The stock is down 75% from its highs, offering another deep-value high-yield opportunity. Declining revenue is a primary cause of the share price decline, but the takeaway is that the company generates revenue, makes profits, and pays a healthy dividend. Trading at 9.5X earnings, it pays over 8% in yield, and the payout is $6.60 annually or about 49% of earnings, which is low enough to allow distribution increases. The company has increased the distribution for seven years and recently declared the Q3 payment in alignment with the trend. The next distribution increase is due in Q1 2024 but may not be a large one.  Kraft Heinz - A Big Ship to Turn Around  Shares of Kraft Heinz (NASDAQ:KHC) are trading near the bottom of their range due to tepid performance relative to turn-around expectations. The salient point is that the turnaround is still in effect, and growth is expected this year and next. The growth is centered in emerging markets, expected to outperform the S&P 500 next year and aids balance sheet and FCF improvements. The stock trades below 12X earnings, the very low end for packaged food companies, and pays more than 4.5% in yield. The payout ratio is below 55%, which suggests distribution increases are possible, but they should not be expected soon. The company may resume distribution increases in the future but is focused on growth and execution at this time.  Archer-Daniels-Midland: The Infrastructure of Industrial Food  Archer-Daniels-Midland (NYSE:ADM) handles and produces food and industrial products from agricultural commodities. Among the many products are sweeteners, soybean products, peanut derivatives, flavorings, extracts, and oils. The company is a Dividend Aristocrat with nearly 30 years of consecutive increases in the dividend history. It trades at a low 11X earnings and pays over 2.25% in yield. The yield is the lowest of any stock on this list but comes with the lowest payout ratio, 28%, and the longest runway for dividend growth, making it a great choice for younger investors. As it stands, the company is raising the distribution at a pace greater than 5%, enough to outpace inflation.  Should you invest $1,000 in Altria Group right now? Before you consider Altria Group, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Altria Group wasn't on the list. While Altria Group currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. The post Are These Consumer Staples Too Cheap for Investors To Ignore? appeared first on MarketBeat......»»

Bank Of England Presses Pause Button The Bank of England has finally pushed the big red pause button, prompting a ... Read more The Bank of England held rates at 5.25% - after successive hikes since December 2021. It followed a sharp fall in core inflation in August and signs the labour market is cooling. Cuts to interest rates are still not expected until late next year and the Bank has kept door open for another hike. The pound fell to its lowest level since the end of March and housebuilders lifted before erasing some gains. Bank Of England Presses Pause Button The Bank of England has finally pushed the big red pause button, prompting a rush of relief for companies and consumers bearing the brunt of higher borrowing costs. Although this is likely to be the last hike in the cycle, the bank is still keeping the door open to another rate hike, if inflationary pressures persist, although with signs that demand is being squeezed out of the economy, the hold button is set to stay in place for a considerable time. Inflation Drops The surprise drop in inflation over the year to August, despite the upwards march in oil prices, saw the bank fast forward its decision to halt the relentless rise in interest rates. The sharp fall in core inflation, stripping out volatile food and fuel prices, clearly took policymakers by surprise given that last month only one policymaker had voted for a pause. This time the decision was made to keep rates on hold by a majority of 5 to 4, signaling the growing strength of feeling that the economy is slowing fast and previous rate hikes, once left to work their medicine will be enough to push prices lower. Although hot wage growth is still a lingering worry, other data showing unemployment rising and companies being more reticent to hire staff, policymakers see the labour market cooling more quickly in the months to come. There effect of previous rate hikes is yet to be felt and more tranches of mortgage holders will be forced to switch to more expensive deals in the months to come, denting their spending power. Even though we’ve had this much longed for pause, it doesn’t mean that we’ll see rate cuts any time soon and the possibility of another rate hike is still in the wings. The language in the minutes, highlighting the need for restrictive monetary policy to continue, signals that higher rates are set to linger, most likely until the back half of next year. Of course if a recession emerges, there is a chance that rate cuts may be brought forward, but the policymakers are still hoping to avoid that eventuality and by pausing now fingers are crossed that inflation will keep coming down but the economy will still avoid a hard landing. Pound Slides Further The pound has reached its lowest level the end of March, dipping to $1.22 against the dollar, on expectations of this pause and also because of a stronger dollar – given that the Federal Reserve indicated it will go for another rise after another pause yesterday. The FTSE 100 climbed back sharply into positive territory, but then dipped back again, as investors assess the difficulties ahead for the UK economy and looked further afield to the prospect of the Fed raising rates again later this year, and the knock-on effect to growth in the United States. Housebuilders Lifted Housebuilders initially lifted in a relief wave, with rays of light appearing at the end of a long dark tunnel. Persimmon, Berkeley Homes and Taylor Wimpey were among the risers, however some gains have been erased as investors assess the prospect of higher interest rates lingering for longer. It may mean that the homebuilding landscape will get tougher before it gets better. High inflation and rising interest rates have made mortgage affordability tough for buyers. That’s really weighing down demand at the moment and its unlikely to change any time soon. Article by Susannah Streeter, head of money and markets, Hargreaves Lansdown.....»»

Central banks all over the world, including the Federal Reserve in the United States, have been considering the development and ... Read more Central banks all over the world, including the Federal Reserve in the United States, have been considering the development and circulation of a central bank digital currency (CBDC). If you’re a cryptocurrency fan, you might be concerned about how this would affect the future of these coins. If you’re a crypto skeptic, you might be concerned that a centralized digital currency would have even more disadvantages than independent cryptocurrencies. And if you’re new to the world of crypto, you might have absolutely no idea what’s going on. Here’s what you need to know. Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. The Premise of a Central Bank Digital Currency First, let’s establish what a CBDC might look like. The Federal Reserve currently has no firm plans to release a CBDC, even as a pilot program. However, it remains open to the possibility. Some central banks in other developed countries are currently running pilot programs of CBDCs of their own. For the most part, you can think of this as just another blockchain-based digital currency. Except there would be a few major differences. First, a CBDC would be centrally controlled by a central bank, rather than being democratically controlled by users. Second, the introduction of a CBDC would likely be backed by the full power of the federal government. This means it might displace several monetary and financial institutions to which we’ve become accustomed. For example, to eliminate competition, the government might criminalize other types of crypto or ban cash transactions. Proponents of a CBDC believe this could be a step forward in terms of currency security and technological advancement. Skeptics believe a centralized digital currency would lose many of the advantages of standard crypto. Additionally, such a currency would allow the government to have too much control over our lives. Why Bitcoin and Other Crypto Still Matter If a CBDC is moved forward, conventional crypto enthusiasts can rest easy knowing that other types of crypto are still going to be relevant, at least in principle. Security Crypto enthusiasts love crypto in part because of its inherent security. If you’re conscious about cybersecurity, as everyone should be, you understand that blockchain-based transactions are inherently safer than cash, card, or conventional digital transactions. A CBDC could be created using a nearly identical blockchain, but countries like Sweden and France are looking into using permissioned blockchains, effectively centralizing the ledger and privileging certain participants within the network. You could argue that this is a decent security measure, as this would prevent a 51% attack. However, it also introduces new vulnerabilities and negates one of the biggest advantages of conventional crypto — its decentralized nature. Privacy One of the biggest concerns about CBDC is that it would rob us of our privacy. If this currency is controlled by a central bank, the government would hypothetically be able to trace all activities. And they could possibly even stop certain transactions. If you want to remain anonymous, or civilly disobedient, it might be important to retain access to other currencies. Sound Foundation Bitcoin initially attracted many enthusiasts because of its sound foundation. Unlike the Fed, which can artificially inflate the money supply at will with no repercussions, Bitcoin is inherently finite. We don’t know exactly what CBDC would look like, but we can reasonably suspect it will be unsound. Competition In any market, competition is valuable. Savvy investors and financial gurus understand this. That’s one reason why you’d want there to be competing cryptocurrencies. If for no other reason, competing cryptos could keep a CBDC in line. The Shaky Foothold of CBDC Right now, a mere 16% of Americans support the idea of a CBDC. In contrast, 68% of people claim they would oppose a CBDC if the government could see what you buy. There are several reasons for this. Distrust of digital currencies. For some people, digital currencies are inherently untrustworthy. They already hate Bitcoin, so they’re naturally going to hate a CBDC — sometimes even more. Distrust of the federal government. Millions of crypto supporters are drawn to this world because they already distrust the federal government. They don’t want the State breathing down their necks and tracking all of their earnings and spending patterns. Lack of understanding. Some people fear change or dislike cryptocurrency because they simply don’t understand it. They understand cash and debit cards, so why should they have to learn something new? Uncertainty. Of course, some people are reluctant to move forward with a CBDC because the model for this currency is ambiguous. With its future totally uncertain, some hesitation is understandable. Accordingly, CBDCs might become a total non-issue. If the majority of the population resists it, the government will not be able to move it forward. A Vision for Coexistence It’s also possible that CBDC can coexist peacefully alongside various other cryptocurrencies. After all, there is no true global currency now. People are freely making cryptocurrency exchanges despite there being a centralized, official currency in the United States already. Policymakers have made no firm statements about whether the introduction of a CBDC would prompt the criminalization or stricter regulation of other cryptocurrencies. A cynical take here would suggest that this is to artificially increase support for the introduction of a CBDC. Still, it’s a positive sign that regulators have not moved to restrict crypto operations to a crippling degree. The Possibility of a CBDC Takeover There’s also the possibility of a total CBDC takeover. A central bank-controlled currency could effectively make other coins obsolete or unusable. There are also several possible tracks for this. Practical Superiority It’s conceivable that, with nearly two decades of ongoing research and advancements in the blockchain world, a new CBDC would be practically superior to other cryptocurrencies. It’s hard to imagine how, exactly, this could be the case. But we need to be open minded. If a new coin emerges that is naturally superior and promoted by the federal government, it’s understandable that other coins would eventually die out. Mainstream Acceptance A bigger threat is the possibility of mainstream acceptance. After all, the perception of legitimacy is what gives the government its power in the first place. If enough vendors accept a CBDC and enough citizens use it, it’ll be a death knell for other crypto. Stricter Regulations Regulatory bodies have been intentionally ambiguous about what a CBDC would mean for the crypto world. However, it’s reasonable to suspect that the biggest threat is stricter regulations or the outlawing of other coins. The good news is that because the government needs people to accept a CBDC, it’s unlikely that they’ll take such extreme measures so soon. It’s hard to say exactly how CBDC introduction could affect cryptocurrency, but there are a few facts we know. We know Americans overwhelmingly reject this idea. We know there are no immediate plans for the introduction of a CBDC. And we know that the central bank and federal government will have to tread cautiously if they want people to accept this type of digital currency. It’s unlikely that CBDC would have the power to influence conventional crypto in the next few years. And, with how fast the government acts, we may not see any changes for the next couple of decades. However, the future that lies beyond that is anyone’s guess. The post How Would a CBDC Affect Bitcoin and Other Crypto? appeared first on Due......»»

Key Points When Etsy, Inc. (NASDAQ:ETSY) shares dipped to a three-year low last week, Wolfe Research decided it was time ... Read more Key Points Etsy’s first upgrade in more than 12 months may turn out to be a crafty buy signal. The key battleground to watch is management’s ability to rein in marketing costs while maintaining user growth. Etsy stock entered the week at $64.94, 79% below its 2021 peak, and is trading around 23x next year’s earnings estimate. 5 stocks we like better than Etsy When Etsy, Inc. (NASDAQ:ETSY) shares dipped to a three-year low last week, Wolfe Research decided it was time for an upgrade.  Find A Qualified Financial Advisor Finding a qualified financial advisor doesn't have to be hard. SmartAsset's free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with local advisors that can help you achieve your financial goals, get started now. On September 12th, the sell-side research firm bumped its rating on the creative goods retailer from Peer Perform to Outperform and gave it a $100 price target. The reason: Etsy has lagged the Nasdaq market so badly that it's bound to reverse. But is it? While the Nasdaq flirts with a fresh all-time high, Etsy’s 46% year-to-date slide stems from several issues. The absence of pandemic stay-at-home restrictions that drove extreme growth in 2020-2021 is only part of the story. And a broader e-commerce slowdown at the hands of sticky inflation is more than just an Etsy problem. The reality is Etsy faces far more competition than it did a few years ago. The company’s lockdown success along with rising consumer interest in one-of-a-kind merchandise, is attracting online giants such as Amazon and eBay. Social media leaders Facebook and TikTok are harnessing the power of peer influence and shoppable content by building out their own creative marketplaces. Toss in emerging home goods e-tailers like Wayfair and Bed Bath & Beyond, and Etsy is no longer the only show in town for artsy merchants and buyers. To Etsy’s credit, it has handled the competitive threat quite well. Revenue continues to grow off an enormous 2020 base. Active buyers and sellers were up last quarter as were reactivated buyers. Unfortunately, marketing and investments in new tools to fend off competitors comes at the expense of lower profits. Analysts are projecting that earnings per share (EPS) will decline at least 20% for the second straight year in 2023.  But as Wall Street bulls point out, this is expected to set the stage for a return to profit growth in 2024 when Etsy’s sales are forecast to reach $3 billion and spending cools. Wolfe Research may be getting ahead of the game. Etsy’s first upgrade in more than 12 months may turn out to be a crafty buy signal. What Is Etsy's Growth Outlook? The consensus estimate for Etsy’s 2024 EPS is $2.83. This implies 16.5% growth from what’s expected for this year. How will it get there?  For starters, both marketplace and services revenue must continue to grow as they did in the second quarter. Marketplace, which accounts for more than 70% of sales, will have to keep acquiring new buyers through marketing campaigns and international expansion. If Etsy can continue to offer sellers value with shiny new tools, further seller fee hikes may be justifiable. On the services side of the business, a healthier digital advertising market would go a long way in offsetting marketplace fluctuations — especially outside of the key holiday shopping period. If these catalysts fall into place, Etsy’s top line growth should accelerate next year. Still, to generate even stronger bottom line growth, some serious work will be needed on the expense side of the ledger. A wind down of technology investments should help but more is required. The key battleground to watch is management’s ability to rein in marketing costs while maintaining user growth. If successful on this front, the path to double-digit EPS growth gets clearer. Is Etsy’s Stock Undervalued? Etsy jumped more than 3% to $66.68 on September 14th due to the Wolfe upgrade. Most of the gains, however, were erased the next day when the high beta name got targeted in Friday’s Nasdaq selloff.  This means the stock entered this week at $64.94, a whopping 79% below its 2021 peak. It also means that it trades around 23x next year’s earnings estimate. During its 2021 run above $300, Etsy’s P/E ratio was above 50x. Amazon is trading at 45x next year’s earnings but has a booming cloud business that Etsy does not. Either way, you look at it, a 50% discount is tempting but may be appropriate because Etsy isn’t growing like it once was. To attract investors and, more importantly, institutional investors, the company will need to show that it is back on a path of sustainable profit growth. This could make 2024 a ‘make or break’ execution year. Etsy is probably undervalued at this point, but may go sideways for the rest of the year. The market will want to see the fundamentals improve before jumping on last week’s upgrade. But with more than 50% upside to $100, the stock could carve out some big gains in 2024. Should you invest $1,000 in Etsy right now? Before you consider Etsy, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Etsy wasn't on the list. While Etsy currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys. The post Etsy Gets an Upgrade and $100 Target... Is the Bottom Finally In? appeared first on MarketBeat......»»

In his podcast addressing the markets today, Louis Navellier offered the following commentary. Data-Dependent Fed The Federal Open Market Committee ... Read more In his podcast addressing the markets today, Louis Navellier offered the following commentary. Data-Dependent Fed The Federal Open Market Committee (FOMC) statement was dovish, despite the fact that the FOMC signaled that one more Fed rate hike is possible. A survey of the FOMC members revealed that 7 members did not want to increase key interest rates, while 12 FOMC members were open to another key interest rate hike. The FOMC statement said that they were “highly attentive to inflation risks.” The bottom line is the Fed remains data-dependent. In his press conference, Fed Chairman Jerome Powell mentioned that the recent inflation data has been favorable, which signals to me that there may be no more key interest rate hikes if the inflation continues to cool. I remain in the camp that the Fed should not increase key interest rates further due to the fact that owner’s equivalent rent in the Consumer Price Index (CPI) and wholesale service costs in the Producer Price Index (PPI) rose only 0.3% and 0.2%, respectively, in August. The primary reason that the CPI and PPI rose in August was due to gasoline price increases of 10.5% and 20%, respectively. There is nothing that the Fed can do about high food or energy inflation, so I expect that the core rate of inflation will continue to moderate. No Labor Pains Yet For now, there does not seem to be any further pressure on unemployment, but that is expected to change as the UAW strike expands. The Labor Department reported on Thursday that weekly unemployment claims declined to 201,000 in the latest week, down from a revised 231,000 in the previous week. This is the lowest level for weekly unemployment claims since January, which is a bit surprising in light of the UAW strike that is causing other layoffs. The striking UAW workers are not eligible for unemployment benefits. Continuing unemployment claims declined to 1,678,881 in the latest week, down from 1,772,148 in the previous week. The American Petroleum Institute on Tuesday reported that U.S. crude oil inventories declined 5.25 million barrels in the latest week. The Energy Information Administration on Wednesday announced a 2.14 million barrel drop in crude oil inventories. I should add that crude oil prices have risen 30% since June and fears of supply shortages persist. Shell’s largest refinery in Europe, in Rotterdam had to be halted this week, which will likely exacerbate the diesel shortages that have sent prices at the pump soaring. Other refinery disruptions will be occurring at U.S. refineries shut down to convert to oxygenated winter gasoline blends from their current summer blends. Other than a hurricane in the Gulf of Mexico, the most likely big supply disruption in the upcoming months may be a problem with Russia's production in the Arctic, since if its pipelines freeze from a lack of oil, the pipelines will break and cease to operate. Russia has diverted many of its able workers to support the war efforts in Ukraine, so there are concerns that its infrastructure is being neglected. Russia’s three big Arctic wells were all developed with Western energy companies, like Exxon-Mobil, so without continuing oil service expertise, its crude oil infrastructure is at risk. As a result, the fear of supply disruptions is keeping crude oil prices high. EU-China Trade War? Meanwhile, China’s exports of EVs to Europe surged 112% in the first seven months of this year. Furthermore, Tesla is exporting many of its Model 3 EVs made in Shanghai with LFP batteries to China to continue to capture market share. Since LFP batteries are cheaper, China is capturing more energy level EV purchases. Right now, BYD and CATL in China dominate LFP battery manufacturing. Furthermore, China is building double the battery plants they need for domestic EV production, so it is clear that China intends to dominate the EV business and currently has a massive price advantage. The EU recently announced an anti-subsidy probe in conjunction that Chinese EVs could swamp its automotive industry. The EU conducted a similar anti-subsidy probe to protect European solar panel companies. So it appears that the EU is getting ready to impose tariffs on Chinese EVs, which recently dominated the Munich Motor Show. The Catch-22 for Europe is that BMW, Mercedes Benz, Porsche and Volkswagen have substantial exports to China, so retaliatory tariffs from China are possible if a trade war breaks out. Coffee Beans: Double Trouble A Pennsylvania school district is hailing the arrival of the "Twin-dergarten" school year, with 17 sets of twins starting kindergarten in the 2023-24 school year. Source: UPI. See the full story here......»»

The Bank of England’s recent decision to pause interest rate hikes has been met with relief, but it should go ... Read more The Bank of England’s recent decision to pause interest rate hikes has been met with relief, but it should go further and stop hikes altogether - and clearly communicate this, warns the CEO of one of the world’s largest independent financial advisory, asset management and fintech organizations. The warning from Nigel Green, chief executive of deVere Group comes as the UK’s central bank kept rates steady at 5.25% on Thursday. It’s the first time in 15 meetings it has not raised rates. Bank of England's Decision To Pause Rate Hikes He says: “We champion the Bank of England’s move to hold interest rates steady, but the central bank policymakers should go further and commit to stopping the hiking agenda, rather than just pausing it. “The battle against inflation is gradually being won. Further squeezing already weak economic growth through making borrowing costs for consumers and companies down the line could leave long-term scars on the UK economy. “Further stifling economic growth by resuming rate rises next time around will lead to yet more decline in investment, entrepreneurial activity, development, innovation – and therefore jobs and a decline in overall economic well-being. As such, this is now the time for the BoE to stop - not pause - interest rate hikes.  “The time lag for monetary policies is notoriously long. It typically takes about 2 years to two years for the full effect of rate hikes to filter fully into the economy – and this is where we are. “We’re now beginning to see the drag effects on the economy with households and businesses becoming considerably more cautious. “The case for stopping rate hikes from now is compelling.” Moreover, clarity in communication about the policymakers’ future intentions is “paramount to instil confidence and predictability in the financial markets and the broader economy.” Nigel Green says: “While a pause can provide a breather, it doesn’t remove the uncertainty surrounding future rate hikes. Businesses and consumers need stability and predictability to make long-term decisions, and the constant threat of rate hikes can deter investments and spending. “The Bank of England’s communication regarding its interest rate policy has been somewhat opaque in recent times. This lack of clarity has created confusion in the financial markets and among the public. “It’s imperative that the central bank provides clear and transparent guidance on its future plans, whether it intends to hold them steady or go back to hiking.” The deVere CEO concludes: “The UK central bank must consider stopping this current rate hike cycle altogether and provide clear and transparent communication about its future plans. “Clarity in monetary policy is not only essential for financial markets but also for businesses and consumers who rely on stable economic conditions to plan for the future.” About deVere Group deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of offices across the world, over 80,000 clients and $12bn under advisement......»»

London, 21 September 2023: Substantive Research, the research discovery and research spend analytics provider for the buy side, today published ... Read more The average research budget has decreased a further 6.5%  Payments to the top ten brokers in the average research budget increased to 54.6%, from 53.9% in 2022 Impact of M&A - Acquired brokers’ pricing decreases 6% on average, 12 months after acquisition London, 21 September 2023: Substantive Research, the research discovery and research spend analytics provider for the buy side, today published headline conclusions on the current state of broker research pricing, supply and market share.  Background The UK’s Investment Research Review has inspired hopes that “rebundling” of research and execution next year could reverse the post-MiFID II decline in research budgets, and encourage greater coverage of small and medium-sized enterprises (SMEs).  The hope is that asset managers can go back to passing research costs onto their end investor clients, and that the amount of money that is spent on external research on SMEs and other asset classes will increase in volume and quality as a result. Substantive Research latest findings Substantive Research’s latest buy side survey shows that in 2023 asset managers are continuing to focus on value and cost when it comes to research budgeting. This is leading them to consume even more from their core bulge bracket providers and continue to reduce research budgets in a challenging market environment for active managers.   For 2023 research budgets, so far: The average research budget has decreased by 6.5% (but actually grew in proportion to AUM, as AUMs decreased faster than research budgets).  Payments to the top ten brokers in the average research budget increased to 54.6%, from 53.9% in 2022 (and from 52% in 2019).  Interactions (meetings and calls) that fund managers take with analysts are also concentrated, with the percentage of interactions consumed from the top ten brokers increasing very slightly from 52.5% to 52.6%.  The top three brokers in the top ten remain unchanged from Substantive Research’s previous update in May - JP Morgan and Morgan Stanley maintain the top two positions with Jefferies in third. The much anticipated consolidation amongst providers further down the list of brokers is now happening, and there have been various high profile examples in the last few months. Substantive Research expects more M&A amongst research providers in 2024, but its data shows that those that do take the option of seeking shelter within a larger umbrella of products and services will need to be realistic about their pricing power, post-acquisition.  Impact of M&A on research pricing When Substantive Research analysed M&A in the research market since MiFID II, it became clear that pricing power is weakened a year after the M&A event, particularly for brokers: Acquired brokers pricing decreases 6% on average, 12 months after acquisition However acquired independent research providers’ pricing only decreases 1.8%, 12 months after acquisition, on average Mike Carrodus, CEO of Substantive Research, said: “If asset managers could take the costs of external research off their own P&Ls without perceiving any adverse consequences, they would probably do so, which could in turn remove any downward pressure on these budgets. But the ability to rebundle trading and research will fundamentally depend on commercial dynamics, not regulatory ones, and it remains to be seen whether the appetite exists amongst the buy side to open this conversation up with clients in the current tough market environment.”  What will happen next The market will now focus on the FCA to see when the consultation document for the proposed changes will be published.  With so many firms waiting to see the detail before even considering whether these freedoms are practicable, this autumn may have the buy and sell side negotiating pricing and access from a very different set of expectations.  Mike Carrodus, CEO of Substantive Research, added: “Brokers encouraged by imminent regulatory changes may be surprised at how tough negotiations are this autumn - asset managers aren’t changing processes until they get much more clarity, and in the meantime budgets are once again under pressure.” Universe of survey data: 40 asset management firms, 60%/40% Headquartered Europe/North America, Total AUM represented $12tr+, 70%/30% Long-only/Hedge Fund. About Substantive Research Substantive Research monitors and curates investment research and provides data-driven analytics on research and data spend to buy-side professionals who manage assets from $500million to $3 trillion and represent a combined AUM of more than $10 trillion. .....»»

CVS Group Sees A 10% Jump In Revenue “Veterinary giant CVS Group Plc (LON:CVSG) has seen its underlying profits increase ... Read more Full year revenue rises 9.8% to £608.3m Underlying cash profits (EBITDA) up 13% to £121.4m, reflecting higher revenue and investment in facilities, tech and staff Entered Australian market during the year Vet practices expected to deliver year-on-year growth in new financial year, despite economic uncertainties The group said it will “work closely with the CMA in support” of its investigation CVS Group Sees A 10% Jump In Revenue “Veterinary giant CVS Group Plc (LON:CVSG) has seen its underlying profits increase by double digits following a 10% jump in revenues. Almost half a million of us are now signed up to the group’s Healthy Pet Club, which is a preventative health scheme – and crucially, is something that makes custom even stickier. Pet owners want what’s best for their companions and that makes the vet industry a lucrative place to be, especially post-pandemic after the pet boom. Ways of life are changing to be more accommodating towards pets and the importance they hold in our lives, and a continued humanisation trend plays directly into the hands of vets, who are on hand for every overly concerned first-time dog owner. The rapid changes in the industry have included skyrocketing treatment prices, as well as CVS Group’s continued focus on acquiring smaller local clinics and bringing them into the fold – not always in a way that’s obvious to customers. This has caught the attention of the CMA who are investigating whether the vet industry is fighting fair. Findings are due early next year, and CVS Group investors are waiting to hear what changes may be needed. A continued struggle for the group is the recruitment and retention of vets. This is a problem plaguing the industry and keeping staff on board comes with higher expenses, which is partly why prices are so high. Of course, we’ll soon find out if the hikes have gone above and beyond reasonable and explainable levels.” Article by Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown.....»»

New research has revealed 2023’s most popular Bitcoin alternatives, with Ethereum coming out on top. The Most Popular Bitcoin Alternatives ... Read more Ethereum takes the crown as 2023’s most popular Bitcoin alternative, based on searches worldwide Dogecoin and XRP take second and third, respectively New research has revealed 2023’s most popular Bitcoin alternatives, with Ethereum coming out on top. The Most Popular Bitcoin Alternatives Of 2023 The study by cryptocurrency experts Marketplace Fairness analyzed Google searches worldwide for a number of Bitcoin alternative cryptocurrencies to see which were the most popular worldwide in 2023. Ethereum It found that Ethereum is currently leading all Bitcoin alternatives in popularity, with 3,260,000 searches for the currency worldwide every month. It was founded in 2015, over five years after Bitcoin, and is proving to be more popular globally than some of its older counterparts. Dogecoin Dogecoin comes in second place on the list as the most popular ‘Meme coin’ worldwide, with 1,659,000 monthly searches for it. The currency has been rising recently, having seen a mention in Walter Isaacson’s newly released Elon Musk biography. XRP XRP comes in third place, with cryptocurrency seeing around 1,250,000 searches for it each month worldwide. It’s the native cryptocurrency of the Ripple network and was launched in 2012, making it one of the older entries on the list. Shiba Inu Coming in fourth place is another ‘Meme coin’ in Shiba Inu, which attracts around 678,000 searches worldwide. It was founded in August 2020 and saw its peak price in October 2021, when its value rose by a whopping 240% in a week. Cardano Rounding out the top five very close behind is Cardano, with 677,000 searches a month worldwide. The fully open-source currency was founded in 2017 as a result of a crowdfunding campaign. Rank Currency Global searches a month 1 Ethereum 3,260,000 2 Dogecoin 1,659,000 3 XRP 1,250,000 4 Shiba Inu 678,000 5 Cardano 677,000 6 Solana 542,000 7 EOS 329,200 8 Litecoin 328,000 9 Tether 193,000 10 Polkadot 183,000 Commenting on the findings, a spokesperson for Marketplace Fairness said: “While Bitcoin is arguably the poster boy of crypto, there are still such a broad range of cryptocurrencies around, many of which are on the rise. ‘Meme coins’ like Dogecoin can often be fairly volatile in the market, so it’ll be interesting to see how the global popularity of these currencies compares to their value as the crypto world changes.”.....»»

Last month, Fairfax County, Virginia announced a guaranteed income pilot program. Eligible households will be able to apply for the ... Read more Last month, Fairfax County, Virginia announced a guaranteed income pilot program. Eligible households will be able to apply for the Fairfax County guaranteed income program starting September 23. Selected households will get $750 per month for 15 straight months. Fairfax County Guaranteed Income Program: Who Will Get It? Fairfax County’s guaranteed income program, called the Fairfax County Economic Mobility Pilot (FCEMP) program, will offer guaranteed income of $750 per month for 15 months to 180 randomly selected residents. Selected households will receive a total of $11,250 over the 15 months. Fairfax County has set aside $2 million for the pilot program. Funding for the program comes partly from the American Recovery Plan Act and the Fairfax County Human Services Council's Innovation Fund. In addition to the money, recipients will also get financial coaching (optional), as well as an opportunity to grow their social networks through virtual or in-person events. Recipients will be free to use the money on anything they deem necessary. To qualify for the Fairfax County guaranteed income program, an applicant must be a resident of Fairfax County. Moreover, they must live in one of the following Zip Codes: 22306, 22309, 20190, 20191, 22041, 20170, 22003, 22150, 20120 or 20151. Applicants must be employed and have at least one child aged 16 or younger living in the household. The applicant's income must fall between 150% and 250% of the 2023 Federal Poverty Level. Any change in the applicant's income after being selected for the program won’t impact their enrollment in the FCEMP. It must be noted that households with an individual receiving SSI won’t be eligible for the Fairfax County guaranteed income program due to “the impact of additional income on Supplemental Security Income (SSI).” How To Apply Those who believe they meet the eligibility requirements can apply for the program online starting September 23, while the deadline is Oct. 3, 2023. There is no option to submit a paper application.  Those who don’t have access to computers and Wi-Fi can visit their Fairfax County Public Library. Applicants will get in-person assistance during the application period, or they can call 703-324-1050 to get more assistance. Applicants will need to provide relevant documents to verify their identity, address, household income, and the presence of at least one child 16 years old or younger in the household. Recipients will be selected randomly, and selected applicants will be notified via phone, email, or SMS. Selected applicants will get the money via the payment method they choose on the application. Money from the Fairfax County guaranteed income program may impact the recipients’ public benefits. Selected participants, however, will receive benefits counseling to help them determine the impact on benefit payments. Once a selected participant chooses to receive money from the program, they must verify that they “understand the risk and impact participation will have on their benefits.”  Visit the program’s webpage to get more information......»»