1. Final Trading Day of 2023 Approaches
As we approach the final trading day of 2023, the S&P 500 is on the cusp of reaching its all-time closing high, with just a 0.28% difference. Despite little change on Thursday, the broad market index has achieved year-to-date gains of over 24%, making it an important session to watch.
2. Consumer Spending Boom Shows Signs of Slowdown
The era of booming consumer spending may be coming to a close, as some companies are starting to witness a decline in their pricing power. The Covid pandemic brought about a period of robust spending on various fronts, from home improvement to travel and restaurants. However, rising inflation has begun to impact prices, signaling a potential shift.
3. Tech Startup Funding Faces Challenges
Tech startups have experienced a significant change in their access to funding this year. Venture investors, who previously poured record-high levels of financing into new businesses, have reined in their investments, putting an end to the era of easy money. As a result, several prominent startups have faced failures and setbacks.
4. Affirm Surprises with Impressive Performance
Affirm, a fintech company, has embarked on a remarkable turnaround this year. With its stock surging by 430% so far in 2023, as of Thursday’s closing bell, it has outperformed all other U.S. tech companies valued at $5 billion or more. This exceptional recovery contrasts starkly with the previous year, where it experienced a 90% decline, erasing billions in market value.
5. Boeing Urges Inspections of 737 Max Planes
Boeing’s troubled aircraft, the 737 Max, is facing potential concerns once again. The company is urging airlines to conduct inspections on the rudder control system for a possible loose bolt. This latest quality issue adds to the challenges faced by Boeing’s bestselling plane. The inspections are expected to take around two hours per plane, with new deliveries to undergo checks as well.
Source (CNBC)
