Business and Finance News - 11.7.24

Author

Skool Projekt Staff
November 07, 2024

 

Good Morning, Students!

 

Question of the day: With cryptocurrency prices rising, can crypto still be a good investment for handling inflation or economic shifts?

 

Crypto can potentially serve as a hedge against inflation and economic shifts, but this is far from guaranteed. While cryptocurrencies have shown moments of resilience during inflationary periods, they remain highly unpredictable and don’t consistently react to economic shifts in a reliable way. The idea of crypto as a hedge against inflation may have held more promise in the past, but today, its volatility and sensitivity to market sentiment make it a less dependable safeguard. Simply put, crypto may offer some inflation protection, but its effectiveness is uncertain and definitely not a sure thing.

 

-Mr. Projekts

 

*Have a question? Submit it to [email protected].

 

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TOP STORIES

 

*Bitcoin (BTC) - Bitcoin is a decentralized digital currency that enables peer-to-peer transactions without the need for an intermediary such as a bank. It uses blockchain technology, which records and verifies all transactions in a public ledger.

 

*CVS (CVS) - CVS Health is a healthcare company that operates retail pharmacy chains, including CVS Pharmacy, and provides healthcare services like prescription drug coverage, walk-in medical clinics, and telehealth.

 

*Dow Jones Industrial Average (DJI) - The Dow Jones Industrial Average (DJIA) is a stock market index that tracks the performance of 30 major publicly traded companies in the United States, spanning various industries.

 

*Lyft (LYFT) - Lyft is a transportation network company that operates a ridesharing service primarily through a mobile app.

 

*Tesla (TSLA) - Tesla, Inc. is an American electric vehicle (EV) and clean energy company.

 

THE MARKETS

Here’s how the major indexes did yesterday:

Here’s how leading market ETFs did yesterday:

Here’s how The Magnificent Seven did yesterday:

Here’s how the major cryptocurrencies did yesterday:

 

Disclaimer: This content is not intended as financial guidance. The purpose of this newsletter is purely educational, and it should not be interpreted as an encouragement to engage in buying, selling, or making any financial decisions regarding assets. Exercise caution and conduct your own research before making any investment choices. 

 

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