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Wells Fargo (NYSE: NYSE:WFC) fined $6.7B since 2020 for consumer abuses and fraud. Mainstream media hasn’t covered this. Why?
Prices as of 4 pm EST, 12/21/22; % YTD
MARKET UPDATE Economic data today tells us
- It’s still resilient out there
8:30 a.m. initial job claims
- For week of December 17, up 2,000 to 216,000
- Still hovering near historical lows amid a tight labour market
8:30 a.m. Q3 GDP
- final revision 3.2% vs. prior reading of 2.9%
- No recession…….yet
Crude 79.4 +1.2%
China
- “Likely” (we don’t know what the official numbers are) experiencing:
- 1 million Covid infections and 5,000 deaths every day
- Winter Wave: getting ready for the biggest outbreak of cases the world has ever seen
Earnings
- Micron (NASDAQ: NASDAQ:MU) -4%, weaker than expected guide
CRYPTO UPDATE SEC classifies FTT token as a security
- Filed claim in complaint against co-founder Gary Wang, former Alameda CEO Caroline Ellison
- Both have pleaded guilty to various charges, not contesting allegations
- Released on bail
- Also facing charges from Dept. of Justice, Commodity Futures Trading Commission
FTX paid for 2020 Blockfolio stake mostly in FTT
- $84 million majority stake in Blockfolio paid with 94% FTT
- Deal gave FTX a 52% stake
Bitcoin (CRYPTO: BTC) Fear & Greed
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