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ToplinePresident Donald Trump on Wednesday deepened his criticism of the Federal Reserve and said he would “love” to fire Jerome Powell, whom Trump has chastised throughout his second term for not lowering interest rates more quickly. "I'd love to fire his ass," Trump said.Getty ImagesKey Facts“I’ll be honest, I’d love to fire his ass,” Trump said of Powell, whose term as the Federal Reserve chair expires in May 2026.Trump, who spoke during a Saudi Arabia-backed investment forum, called on Treasury Secretar ...

U.S. stock futures were steady on Wednesday after Tuesday’s declines. Futures of major benchmark indices were higher.Investors await Nvidia Corp.'s (NASDAQ:NVDA) highly anticipated earnings report on Wednesday. Meanwhile, the minutes of the Fed’s October FOMC meeting will also be released later today. The 10-year Treasury bond yielded 4.12% and the two-year bond was at 3.58%. The CME Group's FedWatch tool‘s projections show markets pricing a 46.6% likelihood of the Federal Reserve cutting the current intere ...

The seemingly sturdy U.S. stock market has begun to wobble. Its monthslong tech-driven rally may be running out of steam amid broader uncertainty about the U.S. economy’s outlook.On Tuesday, the S&P 500, one of the broadest measures of U.S. stocks, fell more than 0.5% and looked headed for its fourth-straight day of losses. The Dow Jones Industrial Average and the tech-heavy Nasdaq were also in the red. Heavier losses were likely prevented by so-called retail investors, like day traders, who have adopted “b ...

Market Overview - Real estate and small-cap sectors are under pressure due to higher financing costs, while retail and tech sectors are attracting attention due to steady consumer demand [1][17] - The Nasdaq Composite ended last week lower, while the S&P 500 and Dow experienced slight gains despite sharp pullbacks [8][18] Company Performance - Bloom Energy surged 8.05% driven by increased demand for clean energy systems [2] - DoorDash climbed 6.02% after expanding retail delivery partnerships and advancing autonomous delivery projects [2] - Vertiv Holdings gained 4.48% following a 67% dividend hike, indicating strong cash flows [2] - Rivian fell 7.81% despite an analyst price-target boost, while Futu Holdings dropped 7.74% amid post-earnings volatility [2] - Nebius Group slipped 5.74% after launching a follow-on equity offering, raising dilution concerns [2] Earnings Reports - Home Depot's Q3 report is anticipated to reveal household spending strength and home-improvement demand elasticity under higher rates [3][4] - NVIDIA's Q3 earnings are crucial for assessing AI infrastructure spending and broader semiconductor optimism [3][10] - TJX Companies' Q3 results are expected to show whether discount retailers are benefiting from cautious shoppers [4] - Palo Alto Networks' fiscal Q1 earnings are being monitored for insights on cybersecurity deal activity and enterprise spending durability [6] Consumer Insights - Investors are looking forward to consumer insights from Walmart's report, along with numbers from Home Depot, Target, Lowe's, and Gap throughout the week [11] Cryptocurrency Market - Bitcoin has seen a significant decline, dropping nearly 30% from a record above $126,000 to below $94,000, reflecting reduced appetite for high-risk assets [12] International Market Impact - Japanese retail stocks faced a sell-off due to a new advisory from Beijing warning citizens against travel to Japan, impacting companies like Shiseido and Isetan Mitsukoshi [13] Oil Market - Oil prices fell as operations resumed at Russia's Novorossiysk port, with Brent crude dropping below $64 and WTI approaching $59 [15]

Global Retirement Challenges - The US has 57 million Americans without savings or retirement plans [1] - Many countries face challenges in providing adequate retirement income due to lower interest rates and increasing life expectancy [2][3][4] - OECD reports 40% of elderly in Korea live on less than half of the median income, and just under 25% in the US [3] Dutch Pension System - The Netherlands has around €1600 billion (16000 亿欧元) in pension assets, equating to approximately 150% to 300% of its GDP [6] - Dutch pension assets account for 59% of all European pension funds, despite having only 4% of the population [6] - The Netherlands is transitioning from defined benefits to defined contribution to increase the sustainability of the fund [7] - The Dutch pension reform discussions started in the early 2000s and the shape of the current reform was decided around the start of the pandemic [8][9] Investment Strategies and Risk Management - The Dutch system allows pension asset managers to invest in higher risk and higher yield assets for younger workers [16] - The focus shifts from contributions to stable investment results as individuals near retirement [17][18] Policy and Consensus Building - The Dutch system emphasizes consensus building between employers, employees, and the government [19] - Political uncertainty around the pension reform ended after a failed vote in Parliament and a shift in government [11]

Group 1 - The current economic environment features inflation, unemployment rates, Treasury yields, and interest rates at levels different from historical norms, suggesting a potential long-tail effect from the pandemic [1] - The focus is on U.S. and European equities, particularly undervalued growth stocks and high-quality dividend growers, indicating a strategic investment approach [1] - Sustained profitability, characterized by strong margins, stable and expanding free cash flow, and high returns on invested capital, is emphasized as a more reliable driver of returns than valuation alone [1] Group 2 - The investment strategy includes managing a portfolio publicly on eToro, where the individual has achieved the status of a Popular Investor, allowing others to replicate real-time investment decisions [1] - The interdisciplinary background in Economics, Classical Philology, Philosophy, and Theology enhances both quantitative analysis and the interpretation of market narratives [1] - The investment philosophy aims to balance asset accumulation with the freedom to choose work that aligns with personal expression, rather than solely seeking financial independence [1]

Market Sentiment - The market appears more nervous than it did previously, with a sense of discomfort heading into the next week despite some technical levels being held [1][3][4] - There was a notable lack of strong rebounds, with the market closing significantly off intraday highs, indicating a lack of confidence [3][7] Federal Reserve Influence - The Federal Reserve's communication suggests a less accommodative tone, particularly regarding December's monetary policy outlook, which could impact market sentiment [4][10] - The market's reaction to the Fed's stance indicates that rates and the glide path are significant factors in market movements this week [11] Earnings Reports - Approximately 90-95% of earnings reports have been released, providing data points for future market expectations, with Nvidia and some retail names still pending [4][12] - The earnings growth is being scrutinized alongside price-to-earnings expansion, raising concerns about the sustainability of stock price increases driven by speculative trading rather than fundamental earnings potential [6][7] Volatility and Market Dynamics - Continued volatility is expected, especially following a period of suppressed volatility as indicated by the VIX [5][6] - The market's tendency to not bottom on Fridays suggests caution for investors heading into the weekend, as historical patterns indicate a preference for market corrections occurring earlier in the week [9] Key Companies - Nvidia is highlighted as a pivotal company that could significantly influence market sentiment depending on its upcoming outlook and capital expenditure plans [11][12]

Economic Impact - The Congressional Budget Office (CBO) projected that the six-week government closure would reduce real GDP growth in the current quarter by 1.5 percentage points, with more than half of the loss potentially recoverable early next year as federal programs resume and government employees receive back pay [1] Government Actions - President Trump signed legislation that ended the longest US government shutdown in history, providing full-year funding for some departments and pay for furloughed government workers, while also resuming federal payments to states and localities [2] Market Reactions - US stock indexes are moving lower, with the S&P 500 Index down -1.10%, the Dow Jones down -0.68%, and the Nasdaq 100 down -1.55%, as optimism over the government reopening has already been priced in [4] - Chip stocks are experiencing significant declines, with ARM Holdings down more than -5% and Broadcom down more than -4%, contributing to the overall market weakness [11] Corporate Earnings - Q3 corporate earnings season is nearing completion, with 82% of reporting S&P 500 companies exceeding forecasts, resulting in a +14.6% increase in earnings, more than doubling expectations of +7.2% year-over-year [6] Interest Rates - The 10-year T-note yield increased by +3.4 basis points to 4.104%, influenced by hawkish comments from Federal Reserve officials, which reduced the chances for a rate cut at the next FOMC meeting [3][8]

Market Performance - The U.S. stock market experienced a significant decline, with the S&P 500 dropping 1.7%, marking its worst day in a month and the second-worst since April's sell-off [2][4] - The Dow Jones Industrial Average fell by 797 points, or 1.7%, while the Nasdaq composite lost 2.3% [2] AI Stocks Impact - Nvidia was a major contributor to the market decline, falling 3.6%, alongside other AI-related stocks such as Super Micro Computer (-7.4%), Palantir Technologies (-6.5%), and Broadcom (-4.3%) [3] - Concerns are rising regarding the sustainability of AI stock prices after significant gains, with Palantir's stock up nearly 174% year-to-date [3][4] Interest Rate Expectations - There is growing uncertainty about the Federal Reserve's plans to cut interest rates, with current expectations for a third cut this year dropping to approximately 51.9%, down from nearly 70% a week prior [6] - Recent comments from Federal Reserve officials, including Susan Collins, suggest a likelihood of maintaining steady interest rates for an extended period, contrasting previous support for rate cuts [6][7] Economic Context - The performance of AI stocks has been a key driver of market records despite challenges such as a slowing job market and high inflation [4] - The potential halt in interest rate cuts could negatively impact U.S. stock prices, which have surged partly due to expectations of further reductions [5]