🙅‍♂️ Biden Says 'No' To Recession

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Markets

Stock futures rise slightly ahead of key inflation data, Fed minutes (6 minute read)Stock futures ticked higher on Wednesday morning as investors awaited the latest inflation numbers and the minutes from the Federal Reserve’s latest meeting. Futures tied to the Dow Jones Industrial Average added 138 points, or 0.47%. S&P 500 futures and Nasdaq 100 futures were up 0.59% and 0.77%, respectively.

Biden says "slight recession" possible, "but I don't anticipate it" (2 minute read)President Biden said during a CNN interview broadcast Tuesday night "a very slight recession" is possible for the U.S., but he doesn't think it will happen. In their interview, CNN's Jake Tapper asked Biden: "Should the American people prepare for a recession?" Biden initially responded with a firm "no," but he later clarified: "I don't think there will be a recession. If it is, it will be a slight recession — that is we'll move down slightly."

British Pound falls sharply against dollar after Bank confirms bond-buying end date (6 minute read)The British pound has fallen sharply against the dollar after the Governer of the Bank of England, Andrew Bailey, warned that it would not extend its emergency intervention in financial markets beyond this week, after the turmoil sparked by the UK government’s mini-budget. The pound slipped by more than a cent against the dollar to below $1.10 after the Bank’s governor insisted the £65bn ($72bn) scheme to purchase UK government bonds would not be continued.

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Investing

2 Top Stocks to Buy in October and Hold Forever (6 minute read)Whilst the stock market may be facing a turbulent environment at the moment, it's always a good time to invest in great businesses that can generate prolonged portfolio returns. The Motley Fool takes a look at two such stocks which fit that bill: Pharmaceutical giant AbbVie (ABBV) and glucose monitoring device manufacturer DexCom (DXCM).

Meta's new Quest Pro headset, mixing real and virtual worlds, makes debut (4 minute read)Meta Platforms (META.O) unveiled its Quest Pro virtual and mixed reality headset on Tuesday, marking a milestone for Chief Executive Mark Zuckerberg's break into the higher-end market for extended reality computing devices. The headset, introduced at Meta's annual Connect conference, will hit shelves on Oct. 25 at a price of $1,500

Does VIX Volatility Foretell A Crash? (9 minute read)The market seems to be getting freaky. The S&P 500 index was up 3.1% on October 4, off 2.8% on the 7th. If the market behaved normally, moves like this should be rare. The market’s volatility is something to watch: The CBOE’s VIX, an option-based measure of uncertainty in the S&P, has doubled since the start of the year. But don’t go to cash just yet. Forbes senior contributor, William Baldwin dives into the data behind the VIX.

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Money

How to Take Advantage of Rising Interest Rates (5 minute read)The Federal Reserve raised interest rates in September for the fifth time this year in an effort to cool rising inflation. These increasing interest rates will affect the way you save, spend and invest. No matter your goals, follow these strategies to take advantage of interest rate hikes: Maximize your savings account interest rate, invest with bonds and refinance or pay off any variable interest debt before rates go higher.

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