Markets
Here are today’s market moves:
What Happened?
The S&P 500 fell on Thursday ahead of the Fed’s virtual Jackson Hole summit on Friday.
The meeting could offer hints about when the central bank plans to slow down support. The Fed has signaled it may start to do so soon, but the spread of the delta variant has complicated matters.
Nevertheless, major U.S. indexes continue to sit near records as the summer season comes to an end.
According to the Department of Labor, jobless claims came in at 353,000 last week, a slight increase from the previous week’s pandemic low.
The crypto market fell on Thursday, with Bitcoin trading near $47k, as bullish sentiment wanes right below the key $50,000 level.
What Else?
Rolex sells status, not watches.
Supreme sells scarcity, not clothing.
Harley-Davidson sells a lifestyle, not bikes.
Apple sells style, not electronics.
JIRA sells pain and agony, not project management software.
Uber owns no cars.
Amazon owns no stores.
Alibaba has no inventory.
Airbnb owns no real estate.
Facebook creates no content.
The biggest companies don’t create, they employ.
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