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SEC Approves “Round-the-Clock” 24X Exchange
It’s official! This past Friday, the SEC approved plans for a new “24 Exchange” or “24X” for short, a new national stock exchange that will be open for trading 23 hours out of the day.
“Traders are most at-risk when the market is closed in their geographic location,” explains 24X CEO and Founder Dmitri Galinov. After-hours trading is already popular among the Wall Street crowd, but retail investors have always been effectively locked out.
Platforms like Robinhood and Interactive Brokers have already started offering after-hours access to a handful of popular securities.
However, the new 24 Exchange will offer a whole new level of round-the-clock accessibility for hundreds if not thousands of different stocks.
Bigger Than Black Friday
More people are doing their Black Friday shopping from the comfort of their couch, it seems…
Mastercard SpendingPulse data shows that while brick-and-mortar sales growth was muted on Friday at 0.7% growth year over year, online sales growth soared 14.6%!
Total online sales in the U.S. totaled $10.8 billion, 10.2% higher than 2023.
While that should provide a solid boost to Amazon’s bottom line, its secret partnerships in the artificial intelligence (AI) industry are creating incredible opportunities for investors.
To see how check out Adam O’Dell’s latest presentation here.
First-Time Homebuyer Crunch
One staple of the American dream is buying a new home.
The lack of supply of available homes has been a problem for first-time homebuyers as current homeowners have been reluctant to sell and get into home loans with higher mortgage rates.
Now, there is another problem facing first-time buyers… affordability.
A recent study shows that only 24% of homes purchased at the moment were made by first-time homebuyers — the lowest level in more than 40 years!
Right now, the average homebuyer isn’t 20 or 30 years old … but 56.
It speaks to the affordability of homes and the broad reluctance of potential buyers amid still-high interest rates.
Trump’s Immediate Impact On American Markets
A month after Donald Trump secured another term in the White House, Wall Street is partying like it’s… well, you get it.
The S&P 500 is up more than 4% since the 2024 presidential election, and investors continue to pour into American markets.
According to data compiled by EPFR, inflows into U.S. equities have risen over the last month, while those in Europe and emerging markets have receded.
U.S. equities were already on track to beat the rest of the world—as they have in 13 of the last 15 years—but the recent explosion of inflows suggests that the margin is even larger.
We All Agreed on Something This Thanksgiving!
We had some fun with last week’s Money & Markets Daily poll. Thank you to everyone who took the time to tell us what they’re looking forward to eating at Thanksgiving.
And it looks like a vast majority of you were looking forward to the staples: turkey, mashed potatoes, pie, stuffing, gravy and green beans.
Also, you look to have settled the debate on whether ham deserves a spot at the Thanksgiving table…
Thank you again to everyone who participated in this survey. We’ll look for more chances to ask off-the-wall questions in the future. To wrap things up, I wanted to highlight two reader responses we got as part of our poll.
Randy L. noted a critical condiment for our favorite dessert:
Gotta have some squash, and whipped cream for the pie.
Thank you, Randy! That’s definitely a must at our table.
Richard N. pointed out one totally fair oversight from our poll:
You did not have a vegetarian or health-based protein option on your survey. You do realize a sizeable portion of the U.S and the world embrace diets that don’t include killing animals?
That is a totally fair point, Richard. Thank you for taking the time to email us about it. This was an honest oversight on our part, but we appreciate the feedback as always.
We hope you all enjoyed the holiday time with family and friends and that there was enough of your favorite dish for seconds, thirds and maybe even Black Friday leftovers.
Look for more polls in future editions of Money & Markets Daily!
Safe trading,
Matt Clark, CMSA®
Chief Research Analyst, Money & Markets