The Fed has decided to keep interest rates unchanged in the range of 5.25% - 5.5%. This marks the end of the Fed's 18-month
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2023-09-21 | Sign Up | View Online | Advertise
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Market Snapshot 📷
S&P 500 4,402.20 -0.94%
Nasdaq 13,469.13 -1.53%
Dow 34,440.88 -0.22%
10-Year 4.389% +0.022%
Oil 90.27-1.02%
Gold 1,954.70 +0.05%

*All data as of the previous day’s market close.

Markets & Economy
Fed leaves interest rates steady, signals one more hike ahead (2 min read)

The Fed has decided to keep interest rates unchanged in the range of 5.25% - 5.5%. This marks the end of the Fed's 18-month campaign to slow inflation, but rate cuts are not on the horizon just yet as most officials still anticipate one more hike this year. Fed chairman Jerome Powell emphasizes the need for further improvement on inflation and will keep rates elevated to bring it down even if it means slower economic activities.
5 common misconceptions about the US's $32 trillion debt mountain (3 min read)

As the US national debt reaches a new record high, this article highlights five common misconceptions about the country’s debt burden. First, the US only needs to pay interest and maturing bond principles, not the entire debt. Second, the debt should be evaluated relative to GDP, which is still below the 100% key threshold. Third, debt is not bad as it can fund vital functions and investments. Fourth, an immediate debt crisis is unlikely but must be addressed in the long term. And finally, rising debt levels are a global issue, not unique to the US only.
Business & Stocks
Meta to expand verification service to businesses, starting with Instagram and Facebook (2 min read)

Meta is extending its Verified feature to businesses on Facebook, Instagram, and WhatsApp. This feature offers verified badges and brand protection for a monthly subscription fee, starting at $21.99 for Facebook or Instagram, or $34.99 for both. Although Meta’s individual verified service is priced slightly higher than X’s, its business verification is much more viable than X’s $1000/month subscription. The move may also potentially open up a new revenue stream for Meta.
Instacart stock subdued as debut enthusiasm loses steam (2 min read)

Instacart's stock fell 5% on its second trading day, following a 12% jump on its Nasdaq debut. Investors question whether the current economic conditions can sustain Instacart’s valuations. The company has seen order growth this year, with revenue growing 31% in Q1. However, some believe consumers might be hesitant to pay extra for home deliveries amid cost-of-living concerns. It also faces increased competition from Walmart, Amazon, and traditional grocers.
Funds & ETFs
Forget China. India ETFs Are Hot Now (2 min read)

India ETFs are gaining attention as the country benefits from China's economic challenges. US companies are looking to reduce reliance on China due to supply chain disruptions and India's large, skilled labor force makes it an attractive alternative. This shift is expected to push India to surpass China as the second-largest economy over the next decades. Investors looking for broad exposure may consider iShares MSCI India ETF (INDA) or WisdomTree India Earnings Fund (EPI).
Amplify ETFs Launches Fund With Zero-Fee Introductory Offer (2 min read)

Amplify ETFs recently launched the Amplify Cash Flow Dividend Leaders ETF (COWS), which focuses on US stocks with high free cash flow and dividend payments. It is very similar to the currently popular free cash flow ETF, Pacer U.S. Cash Cows 100 ETF (COWZ), and it aims to distinguish itself by offering a 0% expense ratio until July 2024. COWS also limits industry exposure to 24% to avoid over-concentration, another slight difference from COWZ.
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