Meme stocks, the curious phenomena that began to captivate the financial world in 2021, continue to be a subject of fascination and intrigue in 2023. These stocks, often driven by internet communities and social media hype, have brought new levels of volatility and unpredictability to the stock market. In this article, we’ll delve into the latest developments surrounding meme stocks and explore what makes them so unique in the financial landscape of 2023.
Last week, Federal Reserve Chairman Jerome Powell delivered his anxiously anticipated speech at the annual economic policy conference in Jackson Hole. The speech garnered attention for its hawkish tone, outlining the Federal Reserve’s commitment to combating inflation and laid out the current economic landscape, challenges and policy considerations.
As we move through the second half of 2023, the global stock markets seem to be caught in a difficult situation. With the U.S. Federal Reserve’s unwavering stance on high interest rates and China’s faltering economic indicators, investors are sailing through choppy waters.
In a significant move, Fitch Ratings has downgraded the United States’ Long-Term Foreign-Currency Issuer Default Rating (IDR) from ‘AAA’ to ‘AA+’. This action, announced on August 1, 2023, is the reflection of concerns regarding the nation’s fiscal health, governance standards, and debt management, thereby signalling to investors and the global markets about the increased risk of lending to the United States. With markets currently in the red, the immediate impact of this downgrade is still unfolding.
Obesity is becoming an increasingly serious problem and is officially considered the number 1 cause of death. According to World Health Organisation estimates, in one decade the numbers have tripled. Now more than 1 billion people worldwide are obese – 650 million adults, 340 million adolescents and 39 million children. This number is still rising and by 2025, another approximately 167 million people – adults and children – will become less healthy because they are overweight or obese.
The anticipated peak of the earnings season is upon us as we venture into the final week of July. This period will witness companies spanning various sectors, publishing their financial reports. While much of the limelight is likely to be on tech behemoths, we must not overlook the importance of the forthcoming reports from businesses across consumer staples, industrials, and energy.