#39 Daily Financial News Round Up - Dec 9,2021
Market Snapshot
Dow Jones is down by 0.11%, S&P500 is down by 0.36%, and Nasdaq Composite is down by 0.78%.
How’s crypto-market?
Bitcoin is down by 3.62% in the last 24 hours to the price $48,671.50. XRP, Polygon and Terra are the top three traded cryptocurrencies in the last 24 hours. The top 3 gainers are Celo, XRP and Augur. The top 3 losers are Polygon, Decred and EOS.
What news caught my attention?
Rental prices have gone up as much as 40% in some of the most famous cities in the country. A recommended rule of thumb is not to let your fixed costs (rent+ utilities+internet etc.,) be more than 50% of your monthly income.
Unemployment filings fell to 184,000 in the week ended Dec 4, 2021. This number is the lowest recorded number in the last 52 years.
Amazon got fined $1.13 billion in an antitrust case in Europe that it plans to appeal. The allegation is that Amazon favoured those sellers who paid to use the company’s warehouse and delivery services while actively discriminating against other third party sellers who weren’t using the company’s services.
My Takeaways:
Consumers feel the pressure of higher prices in all aspects of their lives brought on by the double whammy effect of inflation and pandemic rebound.
Unemployment filings are at their lowest number in 52 years. I am cautious in taking this as a positive sign for the economy.
A wave of antitrust fines for the new-age technology companies is expected in Europe. Will the US follow suit? Let’s wait and see.