📈 Stocks / Finance

Coffee Prices Dip Amid Long Liquidation and Higher Production Forecasts

Barchart

Coffee prices fell, with arabica reaching a 1.5-week low and robusta a 2.5-week low due to long liquidation after margin hikes. Vietnam's production forecast rose, and a weaker Brazilian real increased export selling. Tight robusta supplies and El Nino-driven weather issues provided some price support.

Banks Preemptively Hike Card Fees Despite Likely Dead Regulation

NBC

Synchrony and Bread Financial raised credit card interest rates and added new fees, anticipating a Consumer Financial Protection Bureau rule that most experts now think will never happen. Rates on retail cards jumped up to 35.99%, with some banks imposing monthly fees, impacting customers with low credit scores.

S&P 500 Hits Yet Another Record Amid Steady Gains

CNBC

The S&P 500 rose 0.05% to a record close of 6,049.88, while the Nasdaq gained 0.40%, reaching 19,480.91. Dow Jones slipped 0.17%. Analysts expect Friday’s job report to hint at future Fed actions, with a 72% chance of a rate cut in December, based on Fed funds futures data.

🪙 Crypto

Grayscale Seeks Approval for Spot Solana ETF

CoinTelegraph

Grayscale has filed with the SEC to convert its existing Solana Trust into a spot ETF, trading under the ticker GSOL. The fund, holding $134.2 million, would be custodied by Coinbase. Grayscale joins rivals in a competitive bid to launch the first Solana ETF amid Solana's 277% price surge.

🌎 Global Economy

Global Economy Becomes More Metals-Intensive, Affecting Inflation

CEPR

The shift from fossil fuels to renewables is making the global economy more dependent on metals. Copper price shocks have significant, lasting effects on both headline and core inflation, unlike oil, which impacts headline inflation immediately but less persistently.

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