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Hey there, Bullets Fans –
Your Morning Bullets Brief Updates are here! And that means trivia is, too.
On this day in 1933, who was inaugurated, and how did it impact the stock market?
Think you know the answer? You can check it in the closing area down below!
Image Source: Morning Bullets
Wall Street was poised for its third straight day of losses today as futures on all three major indexes were declining this morning. The Dow Jones Industrial Average was slated for a 50-point loss to start the day, while both S&P 500 and Nasdaq 100 futures slipped 0.2%.
Shares of Big Tech stocks didn’t fare well this morning, either.
Investors today will keep their eye on Federal Reserve Chair Jerome Powell’s speech at a jobs summit and the pore over the government’s latest batch of initial jobless claims. Economists expect to see 750,000 filings, a slight increase from the prior week’s 730,000 claims.
Also, President Joe Biden has agreed to alter the income caps for Americans to get the $1,400 checks that are a signature component of his massive $1.9 trillion relief package.
And Melvin Capital, which you may remember as the hedge fund that lost 53% during the GameStop frenzy, is finally pulling ahead again.
Other News That Matters To You:
When he got tired of helping the rich get richer, this is what he decided to do next
Image Source: CNBC
The billionaire investor whose company just days ago had over 6.1 million shares of Tesla said he has sold 1.8 million shares over the course of six months for his clients. He has gone forward with these transactions even though he envisions the stock increasing to $2,000 in the span of the next 10 years.
He was motivated to sell the shares because they were dominating some of his clients’ portfolios.
“It was painful selling every single share,” he said.
This past year Tesla has seen growth of 338%, to a whopping $653.20 per share.
Baron had previously said he “would be the last out” when it comes to selling.
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