Day: August 21, 2024

The S&P 500 index has risen by 9.5% since its August 5 low, adding $4.3 TRILLION to its market capitalization.

That’s $4.3 trillion over 13 trading days, or $330 billion in market capitalization PER DAY since August 5. The S&P 500 is now just 1% away from a new all-time high and has gained 18% year-to-date. https://preview.redd.it/30e22pezw1kd1.png?width=1442&format=png&auto=webp&s=0046bd26c1be2ca127ea374fbb544677b35983cc submitted by /u/XGramatik [link] [comments]

USA TODAY: Donald Trump’s Truth Social parent company stock prices fall to new low after public trading debut

Kinsey CrowleyUSA TODAY0:052:02 Stock prices for the parent company of Donald Trump‘s social media platform Truth Social hit a new low the first day of the Democratic National Convention. Trump Media & Technology Group closed at $22.24 Monday, down 3.56% from the previous close and the lowest close since the company went public in March. The last lowest closing price was $22.84 on April 16, the second day of Trump’s New York criminal trial where a jury found him guilty of 34 counts of falsifying business records. Trump Media, trading under ticker DJT, has seen near-steady falling stock prices since mid-July. The new low comes as the Trump campaign has struggled to find its footing against the Democrats’ new candidate Vice President Kamala Harris. Earlier this month, the company reported more than $16 million in losses and less than $1 million in revenue in the second financial quarter. Trump Media did not immediately respond to USA TODAY’s request for comment. ‘He’s just, like, an old guy’:Gen Z Democrats laugh at Donald Trump-Taylor Swift AI drama submitted by /u/Ankle_be [link] [comments]

SEC rejects filings for Solana ETFs.

According to a well-placed source, the SEC rejected Cboe BZX’s 19b-4 filings for two prospective spot Solana ETFs, leading to their withdrawal from the Cboe website. The rejection followed concerns that Solana should be classified as a security, aligning with the SEC’s stance in various court cases. The 19b-4 filings, necessary for initiating the SEC’s approval process, were not placed in the Federal Register due to the SEC’s rejection. submitted by /u/Lor1al [link] [comments]

Chris Weston, Pepperstone: A cheeky Nvidia infographic I knocked up for next week’s earnings – intel for those trading and keen to manage risk, understanding the implied moves on earnings, and typical movement we’ve seen of the past 8 quarters.

We know they will beat the sell-side consensus expectations, they always do, and Jensen Huang will always hit the markets sweet spot – but can they blow the lights out? A 7% weight on the S&P500 is punchy, but an implied move of 10% means this has to be on the radar. https://preview.redd.it/nvhddvz4lyjd1.png?width=1080&format=png&auto=webp&s=0288e8bcb679e9df0ec684bd6e2cb17108e6110f submitted by /u/XGramatik [link] [comments]

Who Do the Rich Envy?

At a certain point, an extra million dollars adds nothing new to your wealth. Well, it’s not a bad moment to reach, to be honest. At this stage, other motivations come into play, and money stops bringing joy to people. So why are the ultra-rich dissatisfied with their wealth? Could it be that they are simply spoiled? The number of billionaires in the world is steadily increasing—there are now almost three thousand of them, with 700 in China alone, closing in on the United States. The number of millionaires has also grown significantly—during the pandemic year of 2020, their numbers increased by 600,000, bringing the total to nearly 12 million. Starting at a certain level of wealth, the next million doesn’t change a person’s lifestyle. So, what drives people when they reach this point? Why do they need even more money? I’ve found some explanations. Michael Norton, a Harvard professor, studies the relationship between wealth and happiness. Michael developed an interesting model to understand the behavioral patterns of the rich. Norton writes that researchers have identified two questions people ask themselves when considering their life satisfaction. The first question is, “Am I living better than before?” and the second, more pressing question is, “Am I living better than others?” Of course, this doesn’t just concern wealth, but also appearance, height, country of residence, and other issues that everyone constantly worries about. Not just the rich. submitted by /u/FXgram_ [link] [comments]