What Does A Contested Election Mean For Your Money?
As of Friday morning, we still do not know who our next President will be. What does this uncertainty mean for the stock market? Join Barry and Steve as they talk through our current situation and provide advice on how to proceed. If you have any questions, please feel free to respond to this email or give us a call at 615.370.4040.
Federal Reserve Keeps Interest Rates Near Zero
On Thursday, the Federal Reserve announced it would keep short-term borrowing rates near zero. As expected, the interest rates will stay where they have been since an emergency cut in the early days of the pandemic. "Economic activity and employment have continued to recover but remain well below their levels at the beginning of the year," a statement said on Thursday. The Federal Reserve's decision was unanimous at the meeting, according to CNBC.
Ant Group's Record IPO Is Suspended
Ant Group, the world's highest-valued FinTech company, was supposed to hold a world-record-setting initial public offering on Tuesday. Instead, the Shanghai and Hong Kong stock exchanges announced they were suspending the IPO due to "significant issues such as the changes in financial technology regulatory environment," according to a CNBC translation of the statement from Mandarin. The company was expecting to raise just under $34.5 billion, which would have been the world's largest initial public listing. Ant Group's controller Jack Ma, executive chairman Eric Jing, and CEO Simon Hu were summoned and interviewed by regulators in China on Monday.
Crate of Mandarin Oranges Sells For $9,600
In Japan, a 20-kilogram crate of 100 Japanese mandarins sold for one million yen, or $9,600 at Tokyo's central wholesale Ota Market, according to CNN. The auction was the first of the year for satsuma mandarin oranges, a famous citrus species from Ehime prefecture, which is an island in southern Japan. The oranges from this region are known for their good balance of rich and sweet flavors and easy-to-peel skin. The typical price for a high-end mandarin orange is usually around $75 for 10 kilograms.
And You Thought Your Gym Membership Was Expensive....
The Seattle Seahawks quarterback, Russell Wilson, said that he is so determined to play football until his mid-40's that he spends over $1,000,000 a year on his health. Wilson employs a full-time performance team, including a physical therapist, trainer, mobility person, massage therapist, and two chefs. In addition, WIlson owns "all the toys" to help him stay healthy, including two hyperbaric chambers. He also has been working with a mental conditioning expert to help him during games. The Seattle quarterback works out 363-365 days a year, taking off Thanksgiving and sometimes Christmas.
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