As the news of this remarkable success spread like wildfire across financial circles, the trader's story became a symbol of the power of strategic risk-taking and bold decision-making in the world of trading. While some may view high-stakes trading as a gamble, this trader's exceptional profits serve as a testament to the lucrative rewards that can come from calculated risks and in-depth market analysis.The timing of these developments is crucial, as the world continues to grapple with the economic fallout from the COVID-19 crisis. Governments and central banks around the globe have already rolled out massive stimulus packages in an effort to stave off recession and support struggling businesses and individuals. The need for further intervention to bolster recovery efforts is now a pressing issue.
In conclusion, the folk proverb "The Three Ones of December" offers a unique and culturally rich way of predicting winter temperatures by focusing on specific weather conditions in December. Whether one believes in its accuracy or not, there is no denying the charm and significance of these traditional sayings in connecting us to the cycles of nature and reminding us of the importance of being attuned to the rhythms of the natural world. As we contemplate the meaning of "The Three Ones of December," let us embrace the wisdom of the past and continue to learn from the timeless traditions that have been passed down to us through the generations.
Meteorologist Devon Lucie steps us through the Thanksgiving Day forecast timing the arrival of a cold front, when and where rain will be in relation to where you are, how temperatures are affected. what the risk for strong, possibly severe storms will be and what impacts they could bring, then breaking down the day's forecast along with the Tulane football game outlook, then shows you how much colder it will get through the rest of the holiday weekend highlighting the coldest times and when some of our first "cold alerts" of the season are likeliest, then finishes with your seven day forecast.
had another great day on Wednesday, and the biggest tokens led the market. is once again trading above $100,000, which is a critical psychological level for traders. As of 3 p.m. ET, in the past 24 hours alone, Bitcoin is up 5.3%, has jumped 5.2%, and is up 7.9%. The Fed and how it affects cryptocurrencies The Bureau of Labor Statistics announced this morning the closely watched Consumer Price Index (CPI) was up 2.7% from a year ago, 0.1% higher than in October, but in line with estimates. Traders are now convinced this will be the final data point needed to cut the federal funds rate to between 4.25% and 4.5% later this month. According to the CME, the odds of a cut are now at 94.9%. As much as crypto bulls want to say cryptocurrencies are about upending the current financial system, the biggest driver of higher values in crypto is and the actions of the Federal Reserve. When rates were going up, crypto fell, and now that rates are coming down, crypto is rising again. That shows crypto is trading more like a speculative asset than based on any fundamentals. Back to the old narratives The moves higher in Bitcoin and other cryptocurrencies since early November were all about the election. But that trade seems to be slowing as it gets priced into the market and traders look for the next catalyst. They found it today with lower rates, which could make borrowing less expensive and theoretically drive more economic activity. That's the same narrative that drove crypto in 2020 and 2021, but reversed when interest rates started rising. We are now back to the old themes, with trading dependent on rates for tailwinds or headwinds. I will note that while the federal funds rate gets the most attention, the 10-year rate is more important to businesses borrowing money to grow. And that rate is still up sharply in the last three months and flat for 2024. data by Where does crypto go from here? The changes in interest rates and potential regulation of crypto will be good for the industry, but not in the ways a lot of tokens are moving. I think it's real utility, like lower-cost financial transactions, stock trades on the blockchain, and subscriptions or loyalty programs on the blockchain, that will be unlocked from a changing administration. Some of that value may flow to tokens themselves, but Bitcoin and Ethereum are notoriously slow and costly blockchains, and Dogecoin is a meme coin. It's unlikely these are the places entrepreneurs build real businesses in 2025 and beyond. Those businesses will likely be built on other blockchains. Buyer beware of the pop Momentum is strong in crypto today, and that may last for some time. But the value of Bitcoin, Ethereum, and Dogecoin will only go higher as long as more money is flowing into the ecosystem. And that momentum may stop as signs of a worsening economy continue to percolate through the economy.Shares of Omnicom Group ($OMC) fell more than 9% on Monday afternoon after the advertising company announced the acquisition of Interpublic Group of Companies ($IPG), lifting retail sentiment. Under the stock-for-stock deal, valued at $13 billion, Interpublic shareholders are set to receive 0.344 Omnicom shares for each share of Interpublic common stock they own. Omnicom shareholders will own 60.6% of the combined company, while Interpublic shareholders will own 39.4% on a fully diluted basis. The companies said in a statement that the deal is expected to generate annual cost synergies of $750 million. The statement added that both Omnicom and Interpublic will maintain their current quarterly dividends through the deal's closing. Retail sentiment on the two stocks turned ‘extremely bullish’ but some users were concerned about regulatory blocks that may hinder the deal. “This strategic acquisition creates significant value for both sets of shareholders by combining world-class, highly complementary data and technology platforms enabling new offerings to better serve our clients and drive growth,” John Wren, Omnicom’s chairman & CEO, said in a statement. Philippe Krakowsky, Interpublic’s CEO, added the two companies have “highly complementary offerings, geographic presence and cultures.” “This combination represents a tremendous strategic opportunity for our stakeholders amplifying our investments in platform capabilities and talent as part of a more expansive network,” he said. Interpublic shares were down slightly (0.88%) in afternoon trade on Monday after rising earlier in the day. The combined companies will have 2023 revenues of $25.6 billion, adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) of $3.9 billion, and free cash flow of $3.3 billion. PJT Partners is the financial advisor to Omnicom; Latham & Watkins is the legal advisor to Omnicom; Morgan Stanley is the financial advisor to Interpublic on the transaction. Omnicom stock is up 6% year-to-date.
(Bloomberg) -- Voters in Indonesia’s capital choose its next governor Wednesday in an early test for President Prabowo Subianto after he took office last month. The election pits Prabowo’s candidate, former West Java Governor Ridwan Kamil, against the opposition pick, former cabinet secretary Pramono Anung, for control of a metropolis that accounts for about a fifth of the country’s economic output. Whoever wins will face a range of challenges including traffic congestion, pollution and the fact that the city of more than 11 million people is sinking. The new governor may even preside over a defining moment in Jakarta’s history, when it relinquishes its duties as Indonesia’s seat of government to a new city being built in the rainforests of Borneo more than 1,200 kilometers (750 miles) away. The role is a career-maker in Indonesia, a stepping stone to becoming the president of the archipelago that spans three time zones and more than 17,000 islands. The race remains wide open. The latest opinion poll showed Ridwan falling behind Pramono for the first time, but about a quarter of voters have yet to decide who they’ll choose. A run-off is likely, with neither of the top two candidates set to get more than 50% of the vote. Initial results are expected from 3 p.m. The Jakarta contest is the most prominent of local elections taking place in 37 provinces across Indonesia. It’s also one of the first chances for voters to register their level of support for Prabowo after he became Indonesia’s eighth president in late October following a landslide victory in a February election. Prabowo, who’s allied with his predecessor, Joko Widodo, is seeking to further consolidate power after forming a coalition government that controls some 80% of national parliament seats. The former general has set out ambitious targets ranging from achieving 8% annual growth in the next few years to carrying out a $30 billion free lunch program for schoolchildren. Controlling the island of Java, which counts Jakarta as its biggest city, is key to the success of those policies since more than half the country’s population lives there. If Prabowo’s candidates lose in Jakarta and Central Java, investors may sell Indonesian stocks, according to Lionel Priyadi, a macro strategist at Mega Capital Indonesia, a brokerage based in Jakarta. Defeats could “make the implementation of Prabowo’s programs more complicated because of stronger political resistance,” Priyadi said. Foreign investors pulled about $1.5 billion from the Indonesian stock and bond markets after Donald Trump won the US election on a campaign that included a vow to impose blanket tariffs. The rupiah has fallen about 1.5% against the dollar this month, while the benchmark Jakarta Composite Index of shares has lost roughly 4%. Prabowo’s predecessor, Widodo, popularly known as Jokowi, was Jakarta governor for two years before he became president in 2014. Jokowi then sought to shift the capital to Borneo and rename it Nusantara, as part of his legacy and to redistribute wealth across the sprawling archipelago. But the multibillion dollar project remains a work in progress, with most transport links and buildings far from complete. Prabowo has pledged to see the project through, saying he wants key facilities in Nusantara to be finished in the next four years. In the past few weeks, the Jakarta governor candidates have been presenting their visions for the megacity that remains an economic powerhouse in Southeast Asia. Prabowo’s candidate, Ridwan, has promised to cut red tape to attract investors, build a Disneyland off Jakarta’s coast and continue with land reclamation projects. Pramono, who’s backed by the opposition Indonesian Democratic Party of Struggle, has vowed to invest in training Jakarta’s workforce, start a $3 billion fund to finance projects in the city and push ahead with plans to construct a giant sea wall. “The systems in Jakarta are already running, but whoever wins, the challenge is to improve the quality,” said D. Nicky Fahrizal, a researcher at the Jakarta-based think tank the Center for Strategic and International Studies. “Jakarta can be as busy as New York but will it be comfortable? Or will Jakarta have clean air like Singapore?” --With assistance from Norman Harsono. More stories like this are available on bloomberg.com ©2024 Bloomberg L.P.Another factor contributing to the late-night rally was a wave of foreign investment flowing into Chinese assets. Global investors, seeking higher returns in a low-interest-rate environment, flocked to Chinese equities and bonds, driving up prices and pushing market indexes to new highs.