Your Daily Impact Report

news from the global market graph

Todd Moses
March 26, 2024

Today's economic inputs that matter for March 26, 2024:

What it is: Market indicators such as the S&P 500, DJIA, and Nasdaq Composite reacted favorably on Monday due to the Federal Open Market Committee (FOMC) announcement,
Why it matters: The FOMC did not lower interest rates but still provided hope that rate reductions were coming, perhaps by their next meeting that concludes on May 1, 2024.
How it impacts you: While consumer sentiment is lower than expected, many markets should show an upward trend going into mid-April. From there, rumors will either maintain the trend or cause an altered course.
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What it is: Binance and Nigeria go head to head with Nadeem Anjarwalla on the run from Interpol.
Why it matters: The Nigerian naira plunged 70% against the U.S. dollar over the past year due to Nigerians storing their money in alternative assets like Bitcoin. Chainalysis reports that sanctioned entities and jurisdictions account for over 60% of illicit crypto usage.
How it impacts you: Cryptocurrency is gaining power to circumvent sanctions and create economic alternatives for those living in troubled areas.
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What it is: China tightens its grip on Hong Kong with the passing of Article 23.
Why it matters: Radio Free Asia discovered that Chinese state television reported the passage of Hong Kong security law 20 minutes before the vote.
How it impacts you: China's heavy hand makes Singapore more attractive to foreign investors. BlackRock Inc. is expanding in Singapore, as is the Ontario Teachers' Pension Plan, which shut down its equity team in Hong Kong this year.
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What it is: Gasoline prices are steadily moving toward $4 per gallon in the U.S.
Why it matters: According to the IMF, trade from the Red Sea will drop more than 50% in 2024 due to regional conflict.
How it impacts you: Fuel costs have a causal effect on the price of most consumer goods. Expect food prices to move in the same direction as gasoline.
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What it is: The cost of building materials has climbed to 33.9%, with construction labor at a 27% increase.
Why it matters: Home prices in the U.S. are moving downward but still 6.5% higher than last February.
How it impacts you: As we move into the hottest time for residential real estate sales, home prices should stabilize and may even increase in mid-April. After that, the result of the May 1st FOMC announcement will decide.
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What it is: Krispy Kreme is teaming up with McDonald's, and the market loves it.
Why it matters: The Motley Fool praised Krispy Kreme in 2003 and 2016. In 2003, it looked like a hidden gem, and in 2016, it announced a partnership to open stores inside WalMart.
How it impacts you: McDonald's and Krispy Kreme are expanding their partnership to all of the burger chain's U.S. locations by the end of 2026.
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Read the latest from the global economic graph on Banananomics.