📈 Stocks / Finance

Dow Leads Stock Declines Amid Election Jitters

Yahoo Finance

US stocks fell Monday, with the Dow dropping 0.6%, ahead of the presidential election and Fed's policy meeting. Polls show Harris gaining unexpected ground, impacting market sentiment. Treasury yields slipped, and Wall Street anticipates a 0.25% Fed rate cut despite inflation concerns.

Stocks and Post-Election Trends

CNBC

Historically, major stock indices rise between Election Day and year-end, though initial declines are common. On average, the S&P 500 sees a 1.54% year-end increase, while the Nasdaq and Dow also rebound after early dips. Investors should expect volatility rather than immediate gains.

AIG Surpasses Profit Estimates Amid Strong Underwriting, Investment Gains

Reuters

AIG beat third-quarter profit estimates with a 14% rise in net investment income and a 6% increase in general insurance premiums to $6.38B. Despite higher catastrophe losses of $417M, the insurer's accident year combined ratio remained strong at 88.3%, highlighting robust underwriting performance.

🪙 Crypto

Bitcoin Outperforms Treasuries as Investors Seek Higher Returns

CoinDesk

Bitcoin's value surged 55% year-to-date, outpacing BlackRock's TLT ETF, which fell 8%. BTC now trades at 800 times the value of TLT, up from 466 in 2021. Bitcoin's market dominance hit 60.56%, as investors shift away from altcoins amid economic and political uncertainty.

🌎 Global Economy

OPEC Optimistic on Oil Demand Outlook

Reuters

OPEC remains optimistic about global oil demand, with Secretary General Haitham Al Ghais stating that 'peak demand' is unlikely as the global economy grows. Growth in China and the U.S. supports this outlook. OPEC also delayed a planned output increase to counter weak demand and external supply.

The gold standard of business news

Morning Brew is transforming the way working professionals consume business news.

They skip the jargon and lengthy stories, and instead serve up the news impacting your life and career with a hint of wit and humor. This way, you’ll actually enjoy reading the news—and the information sticks.

Best part? Morning Brew’s newsletter is completely free. Sign up in just 10 seconds and if you realize that you prefer long, dense, and boring business news—you can always go back to it.

Join 4.3 Million Readers Now

🗞️ Other Newsletters You Might Like

Essential stock market insights every day before the bell rings.