Lower Rates and Biden Speaks

Good Evening 🇺🇸,

What happened today,

• The Federal Reserve Bank has announced they will lower interest rates by 25 basis points, this was pretty much expected

• The Labor Department reported that jobless claim applications rose by 3,000 to 221k for the week of Nov. 2nd, below the 222k expectations

• DOW down .59 points/ S&P up 44.06 points

• President Biden spoke this morning calling Harris’s loss a setback and wants Americans to “accept the choice the country made”

• Republican David McCormick flips Pennsylvania Senate seat

• Over 3500 homes are in danger as fires rage through Ventura county, California

• A tour bus crashed in upstate New York resulting in one person critically injured and 28 other people hurt

• Three people have been charged in connection to Liam Payne’s death

• Rudy Giuliani will appear in court after he has missed his deadline to surrender assets in defamation case, he has been given a week to turn over assets or face contempt

• Australia plans to ban social media for children under the age of 16

Bonus: A look at America’s largest budget items…

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Quote of the day: "Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking." – Steve Jobs

Have a great night!

P.S. Email us at [email protected] for more info on any news points in the letter or feel free to give any feedback you have!