Tesla and Detroit’s Automakers Price In a Trump Joyride. Good Luck.

Published on November 8, 2024

Detroit voted overwhelmingly for Vice President Kamala Harris, but investors in “Detroit” backed President-elect Donald Trump. Shares in General Motors Co. and Ford Motor Co. jumped on news of Trump’s election win, with GM reaching a new high for the year and Ford up by almost 6% on Wednesday, more than double the S&P 500 Index’s gain.

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Fed Watch: Speed Limit 25

November 8, 2024
Following the September FOMC meeting’s much ballyhooed 50-basis point (bps) rate cut, the voting members scaled back and reduced the Fed Funds by 25 bps this time around.

Austin Exposes New York City’s Broken Housing Market

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Here’s something that would have seemed pretty much inconceivable two years ago: According to Zillow, home prices have now risen more in New York City and its environs since the beginning of 2020 than in metropolitan Austin, Texas.