Company Overview - Klarna's shares fell to $38.31, below the $40 IPO price from its debut on September 10, marking the first time the stock has traded below its initial offering price [2] - The company experienced a significant drop in stock value amid a broader decline in technology stocks, attributed to economic data suggesting the Federal Reserve may not pursue further interest rate cuts [2][3] Industry Context - The FinTech sector, including companies like Klarna, is particularly sensitive to macroeconomic factors such as interest rates and regulatory changes [3] - The FinTech IPO Index saw a decline of 3.5% this past week, reversing some recent gains [3] - Other FinTech companies, such as Affirm and Block, also experienced stock declines on the same day as Klarna [2] Market Performance - The overall market for cryptocurrencies faced a significant downturn, with a reported loss of over $140 million in market value since the beginning of the week [4] - Ether's price dropped by 4.7% to its lowest point in nearly seven weeks, while Bitcoin fell by 1.7% [5] Product Development - Klarna reported that over 1 million Americans signed up for its Klarna Card within 11 weeks of its launch on July 4, which allows users to choose between debit or pay-later options [6]

[Music] That's the closing bell on Wall Street and now it's market domination overtime. We're giving you full coverage of all the moves to get you up to speed on the action from today's trade. Guy who finances Jared Blickery joining us here to break it all down.Jared, thank you Josh. Nice comeback Friday. We're seeing a lot of green on our screen here at least in terms of the major averages.We'll start with the NASDAQ up about 100 points or 4/10en of 1%. Here's the day's price action. We had a little green, ...

(Bloomberg) — Just weeks after a buzzy trading debut, Klarna Group Plc shares fell below the initial public offering price for the first time in the face of increased competition from rivals and worries about the path of interest rates. Most Read from Bloomberg The digital-payments firm’s stock fell to $39 Friday, closing below the $40 listing price. Klarna started trading on Sept. 10 after the company and some of its backers raised about $1.58 billion in an offering that was double-digit oversubscribed ...

Federal Reserve Independence - Protecting Federal Reserve independence is critical for the global economy [3] - Compromising central bank independence can lead to higher inflation and interest rates [5] - The independence of the central bank should not be compromised by political authorities [5] - There is concern about potential political interference with the Fed board [11][19] Monetary Policy and Economic Indicators - The Atlanta Fed is tracking at 39%, and core PCE is at 29% [12] - Recent payroll growth is under 30,000 per month, indicating cracks in the labor market [13] - The unemployment rate is nudging up slowly, currently at 43%, while the black unemployment rate is 715%, up from 6% in May [14] - An October rate cut is likely baked in, but a December rate cut should be approached with caution due to sticky inflation and stronger consumer spending [13][15] Lisa Cook Allegations - Allegations against Lisa Cook are considered unproved and a potential pretext for political interference [9][19] - Lower courts have seemingly agreed that Lisa Cook's due process has been negated [17] - As a monetary policy Fed governor, Lisa Cook has been performing fine [19]

The 10-year benchmark yield was at 6.5038% as of 10:00 a.m. IST, after closing at 6.4972% on Thursday. New Delhi is set to sell 15-and-40-year bonds worth 160 billion rupees ($1.8 billion) each later in the day, the final auction of the first half of the fiscal year. "Today's auction papers are such that the cutoffs could make or break the market, and hence they are important before the second half schedule" trader at a state-run bank said. The government's October-March debt supply calendar is due after m ...

Let's talk about all that and maybe the government shutdown as well because I'm just going to give it to Rick Santelli and Rick you you do you talk about whatever you think is important right now. Well, I think the Oracle issue is important. Second largest investment grade deal of the year.And what I find interesting there is we could find a lot of reasons what uh what what they're going to tell us regarding why they're doing this versus equity debt. But here's the way I look at it. Interest rates in my opi ...

Core Insights - The U.S. economy experienced a significant upward revision in GDP growth for the second quarter, now reported at an annual rate of 3.8%, compared to earlier estimates of 3.3% and 3% [1][2] - This growth was primarily driven by a notable acceleration in consumer spending, with real final sales to domestic purchasers increasing by 2.9%, surpassing previous estimates of 1.9% [2] - The revised data indicates a strong rebound from a decline of 0.5% in the first quarter, marking the weakest economic growth period since 2022 [3] Economic Indicators - Jobless claims decreased to 218,000 from 232,000, which is significantly lower than the Dow Jones consensus of 235,000 [4] - The Federal Reserve of Atlanta projects a real GDP growth rate of 3.3% for the third quarter, slightly downgraded from an earlier estimate of 3.4% due to decreased residential investment growth [6] Analyst Reactions - Analysts noted the nearly 1% increase in GDP growth as "notable and outside the norm," especially in a year characterized by volatility and mixed economic signals [5] - Positive sentiment was expressed regarding the economy's performance, with stronger-than-expected jobless claims and retail sales [5] Consumer Sentiment and Inflation - Recent consumer sentiment has shown increased pessimism, with a decline reported in September, amid rising inflation and a weakening job market [8] - The upcoming release of personal consumption expenditures (PCE) price index data is anticipated, with expectations of annual inflation reaching 3% in August [7]

Rick Santelli is standing by at the CME in Chicago. And Rick, you want to say what you think is happening, what we've been watching with yields at this point, ever since the Fed's meeting. Well, to me, yields are doing exactly what they should.Maybe even not to the extent I thought they would. To me, the yields are going to continue to be firm, especially all durations, all maturities from sevenyear on. So, tens, uh, 20s, 30s.I think they're going to be sticky. And the reason I think they're going to be sti ...

Group 1: General Motors - UBS upgraded General Motors from neutral to buy, raising the price target from $56 to $81, citing the company's ability to manage tariff costs effectively [1] - Analysts expect North American margins for General Motors to be between 8% to 10%, which is significantly higher than the street's expectation of 6% to 6.5% [5] - The potential for lower interest rates is anticipated to drive higher vehicle sales for General Motors [5] Group 2: Tesla - Tesla shares increased nearly 4%, marking the highest close since December, with analysts predicting a strong Q3 due to expected delivery numbers exceeding expectations [2] - The impending deadline for tax credits is expected to boost demand for Tesla vehicles in Q3 [2] - Analysts believe Tesla has favorable conditions heading into year-end, despite some anticipated challenges [3] Group 3: Automotive Market Conditions - Rising interest rates have made vehicles less affordable, impacting consumer purchasing behavior [4] - The overall price of cars is a concern, with significant increases noted compared to three years ago, influenced by tariffs and interest rates [4][6] - The automotive industry is experiencing a shift with regulatory changes that may provide short-term benefits but could pose long-term challenges [6]

Core Viewpoint - The market is closely monitoring Federal Reserve officials' speeches, particularly Jerome Powell's, for insights on future interest rate movements as Treasury yields experience fluctuations [1][3]. Group 1: Market Reactions - Treasury yields decreased by one basis point, with the 10-year bond rate falling to 4.13% [2]. - The market has faced pressure following last week's cautious comments from Fed officials regarding future rate cuts [2][3]. Group 2: Federal Reserve Insights - Jerome Powell is expected to clarify the rationale behind last week's rate cut, which he described as a "risk management" strategy, balancing job market concerns against inflation risks [3][4]. - Fed Governor Michelle Bowman emphasized the need for decisive action to lower rates to support the struggling labor market [7]. Group 3: Investor Sentiment - High uncertainty regarding the Fed's future path has led investors to engage in diverse bets on potential policy outcomes, as reflected in options trades linked to the Secured Overnight Financing Rate [5]. - Some investors are adjusting their expectations for rate cuts, targeting fewer cuts than currently priced in the market, while others are betting on significant cuts in upcoming meetings [6]. Group 4: Upcoming Treasury Auctions - A significant test of demand for US bonds is anticipated with the Treasury's upcoming sale of $69 billion in two-year notes, which is expected to perform well [4].