#14 Daily Financial News Round Up - Nov 14,2021
Market Snapshot
Dow Jones is up by 0.50%, S&P500 is up by 0.72%, and Nasdaq Composite is up by 1.00%.
How’s crypto-market?
Bitcoin is up by 1.30%. Cryptomarkets seem to have recovered. XRP, Loopring and Tron are the top three cryptocurrencies in the last 24 hours this week.
What news caught my attention?
The most significant concrete point of COP-26 is the strengthening of the carbon-trading rules. An informal market has existed for some time now. However, standardizing and UN-certifying carbon trading makes way for the trading to be more efficient. Carbon trading provides opportunities for polluters to trade with non-polluters. Standardized trading helps with pricing efficiency.
Covid-19 cases are on the rise again in the Upper midwest, southwest and parts of Northeast. This rise in cases marks the end of the declining trend, signalling a bad sign as the coming holiday season is expected to make things worse.
Workers from 4.4 million jobs resigned in September 2021. Traditionally marginalized workers - low wage workers, workers of colour and women workers are those most likely to either change jobs or resign. Lack of affordable child care, flexibility in times and built-savings providing a cushion to pursue other opportunities are some of the reasons contributing to the great resignation.
High inflation is here. The purchasing power has taken a hit. There is a higher probability for negative returns as a result. Prospects of negative returns are inducing some investors to turn to riskier assets like cryptocurrencies.
My Takeaways:
An efficient marketplace for carbon trading is the best way to price carbon emissions. Efficient pricing will ensure that the famous invisible hand is at work.
While high inflation implies less buying power, another negative consequence of inflation is pushing some investors towards riskier investing.