- India surpassed the UK this year to become the 4th-largest stock market. India is on track to be the fastest-growing major economy with a booming middle class of 350 million people, roughly the size of the U.S. population.
- Roughly 75% of individuals that invested in crypto currencies using a crypto exchange app have lost money. Bitcoin hit its peak of $69,000 in November 2021 but has since tumbled to around $16,000.
- The difference between the 3-month and 10-year Treasury yield has widened to more than 0.5%. That has happened just six times since 1970, with the economy entering a recession 5 to 14 months later on those occasions.
- U.S. existing-home sales fell for a 9th straight month, the longest streak of declines on record. October sales fell 28.4% from a year earlier, the biggest annual decline since February 2008
Barrons- "India is The World's Fastest-Growing Major Economy. 13 Ways to Invest, According to Our Roundtable Pros."
Barrons- "Did You Lose Money Investing in Bitcoin? You're Not Alone, Says Study"
Barrons- "It's Time for the Stock Market to Worry About Recession"
WSJ- "U.S. Home Sales Fell for Ninth Straight Month in October"
Economic Calendar
Monday:
Chicago Fed national activity index (Oct), San Francisco Fed President Mary Daly speaks on inflation
Tuesday:
None scheduled
Wednesday:
Durable goods orders (Oct),Core capital equipment orders (Oct), Initial jobless claims (Nov), Continuing jobless claims (Nov), S&P U.S. manufacturing PMI (flash) (Nov), S&P U.S. services PMI (flash) (Nov), UMich consumer sentiment index (final) (Nov), UMich 5-year inflation expectation
Thursday:
Thanksgiving Holiday, None scheduled
Friday:
None scheduled, Stock market closes at 1pm
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