Stocks Finish Rally as Fed Signals Easing Hopes Grow
Wall Street closed higher with the S&P 500 up 2.4 percent and the Dow up 2.5 percent as markets extended weekly gains. Traders priced in a slower pace of rate hikes after Fed remarks, with expectations shifting from a 0.75 point move to 0.5 points in December, amid ongoing inflation concerns and caution from policymakers.
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Wall Street
Federal Reserve
Jay Hatfield
Infrastructure Capital Advisors
Fed
Mary Daly
Federal Reserve Bank of San Francisco
Daly
CME Group
Meet
Ing
University of California-Berkeley
Fisher Center For Real Estate & Urban Economics’ Policy Advisory Board
Ross Mayfield
Baird
AppHarvest Promoted by Vance Faces Five Lawsuits
Five shareholder suits against Morehead Kentucky based AppHarvest allege misstatements to regulators and investors from 2021 to 2022. The high tech indoor farming company, promoted by JD Vance and financed by his firm Narya Capital, saw stock value collapse and investor losses including Ohio teachers in a parallel decline. Vance left the board in 2021 before a Senate bid. Narya remains an investor.
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Appalachia
JD Vance
Morehead
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Narya
America
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Novus Capital
SPAC
IRS raises 2023 contribution limits for retirement plans
The IRS announced higher 2023 limits for 401(k) 403(b) and most 457 plans increasing to 22500 with catch up of 7500 for those 50 plus. IRA limits rise to 6500 with catch up at 1000. Roth and saver’s credit income thresholds also increase.
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