Newsletter Nov 11, 2022

3 things you must know

Inflation report sends Wall Street to best day since April 2020
Technology stocks soared Thursday, leading broader markets higher after a key government report showed the rate of inflation may be slowing. The Dow Jones gained 3.69%, the S&P 500 rose 5.53%, to close at 3,955.88, and the Nasdaq surged by 7.35% in Wall Street's best day since April 2020. The Labor Department reported October's Consumer Price Index at 7.7% -- 0.2% lower than forecast and 0.5% lower than September's CPI report.
SEE WHAT'S BEHIND STOCKS AND BONDS BANNER DAY

Investors pull away from dollar as exchange rates fluctuate
Investors stampeded away from the dollar, as softer-than-expected U.S. consumer price data raises hopes that the Federal Reserve may need to tighten monetary policy less than expected in its fight against inflation. The dollar's moves against many currencies on Thursday saw investors pull back from what has been an extremely crowded trade in foreign exchange markets.
HOW THE DOLLAR FARED AGAINST MAJOR CURRENCIES

Twitter turmoil continues amid FTC compliance complaint
A Twitter employee raised concerns over the company's FTC compliance under new owner Elon Musk, a leaked internal letter showed. Since taking over the social media site, Tesla CEO Musk has initiated a number of changes, including firing nearly half of its staff before asking some to return, introducing changes to the verification process, and cutting costs. The company has seen both users and advertisers leave the site in recent weeks.
FIND OUT WHY THREE TWITTER EMPLOYEES RESIGNED

You Might Like

Markets

DJIA	33,715.37	3.70%
S&P 500	3,956.37	5.54%
Nasdaq Composite	11,114.15	7.35%
Japan: Nikkei 225	28,200.75	2.75%
UK: FTSE 100	7,375.34	1.08%
Crude Oil Futures	86.81	0.39%
Gold Futures	1,755.10	0.08%
Yen	142.12	0.81%
Euro	1.02	-0.22%
* As of market close

With midterms over, a look ahead to 2024

With the midterms elections (sort of) behind us, it's time to look ahead to 2024 and the leading presidential candidates. While many predict a rematch between President Joe Biden and predecessor Donald Trump, there are camps within their respective parties who say both are unfit for the office. Trump has a brewing Republican rivalry with Florida Gov. Ron DeSantis, while Biden face challenges from younger Democrats. There are a few newcomers who threaten to shake things up in 2024.

WHO ARE THE LEADING PRESIDENTIAL CANDIDATES FOR 2024?

Mixed bag for marijuana legalization efforts

Voters in Missouri and Maryland voted Tuesday to legalize recreational marijuana, while measures were rejected in Arkansas, South Dakota, and North Dakota. Twenty-one states have adopted adult-use legalization laws and 16 states that have legalized cannabis for medical use. States have seen a financial boon from marijuana. California received $1.29 billion in marijuana tax revenue in 2021, while Colorado received $423 million, and Washington saw $559 million.

HOW STATES ARE SPENDING REVENUE FROM LEGALIZATION

Alex Jones ordered to pay another $473M

A Connecticut judge on Thursday ordered far-right conspiracy theorist Alex Jones to pay an additional $473 million in punitive damages to the families of the Sandy Hook victims a jury says he defamed, making him responsible for a total of $1.44 billion. Jones repeatedly told listeners that the 2012 Sandy Hook Elementary School shooting in which 20 first-graders and six teachers were killed was staged by "crisis actors."

JONES' REACTION TO THE LATEST BLOW TO HIS LEGAL WOES

Feeling fine

What radio personality has the FCC fined the most? How much?

Thursday's answer: NASA's ICON mission was infamously delayed for 16 months -- from June 6, 2017 to Oct. 11, 2018 -- a total of 497 days.

IBTimes will always protect your security and privacy. Please read our detailed Privacy Policy. Please do not reply to this email. Click here to adjust your notification preferences or unsubscribe.Â