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<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Are you ready for some football?! The NFL season kicks off tonight with the reigning Super Bowl Champions/Taylor Swift's favorite team, the Kansas City Chiefs, playing the Baltimore Ravens. If you're like many Americans, you might be placing a bet on the action. I wrote about why sports gambling's rise <a target="_blank" href="https://www.businessinsider.com/sports-gambling-weird-quirks-bets-nfl-nba-draftkings-fanduel-2024-9">has also made it a bit weird</a>.In today's big story, where the US economy is headed <a target="_blank" href="https://www.businessinsider.com/jobs-interest-rate-cuts-recession-outlook-federal-reserve-soft-landing-2024-9">could finally be answered with Friday's jobs report</a>.What's on deck:<ul><li>Markets: Nvidia investors should be <a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-outlook-technical-analysts-eye-danger-zone-levels-2024-9">focused on these two numbers</a>.</li><li>Tech: This healthcare startup's got a VC CEO doing <a target="_blank" href="https://www.businessinsider.com/healthcare-weirdest-startup-commure-blank-check-general-catalyst-hemant-taneja-2024-9">whatever it takes for it to succeed</a>.</li><li>Business: Inside America's wildest — and most lucrative — <a target="_blank" href="https://www.businessinsider.com/mass-torts-lawsuits-lawyers-settlements-strippers-hard-partying-money-2024-9">lawsuits</a>.</li></ul>But first, one data point to rule them all.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">All eyes on jobs</h2><div type="image" title="George Washington stands warily behind a fork in the road sign." height="877" width="1754" msid="113099191" hostid="261" sizebytes="144538"></div>It's so close you can almost taste it.The Federal Reserve is finally on the precipice of cutting interest rates. We're less than two weeks out from the Fed's September 18 meeting where the central bank is set to provide Americans with some much-needed relief.But one hurdle remains between now and then: Friday's job report.While the data won't jeopardize the central bank's decision to cut rates, it will help it decide how deep it will go. More broadly, a weak or strong report will also provide color on whether <a target="_blank" href="https://www.businessinsider.com/jobs-interest-rate-cuts-recession-outlook-federal-reserve-soft-landing-2024-9">the economy is headed toward a soft or crash landing</a>, write Business Insider's Juliana Kaplan, Madison Hoff, and Ayelet Sheffey.The last jobs report before the Fed's decision was always bound to be a big one. But August's report became even more important after how things went last go around.<a target="_blank" href="https://www.businessinsider.com/unemployment-rate-job-growth-july-labor-market-economic-data-2024-7">Unemployment unexpectedly jumped to 4.3%</a> and fewer jobs were added than economists expected in July's report. Coupled with some weak manufacturing data and shaky earnings, <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-selloff-today-jobs-report-recession-unemployment-tech-earnings-2024-8">the stock market started melting down</a>.Ultimately, the market was able to rally back. But the fear of the US slipping into a recession still remains. Friday's job report could go a long way in dispelling those fears or emboldening them.<div type="image" title="Photo illustration of Jerome Powell" height="750" width="1000" msid="113099194" hostid="261" sizebytes="41878"></div>Regardless of Friday's report, it's important to remember cutting interest rates won't create economic miracles.If unemployment spikes for a second month in a row, the Fed could offer a deeper rate cut than the typical 25 basis points. But it takes time for the effects of the policy to work its way through the economy.Bigger also isn't necessarily better when it comes to rate cuts. If the Fed believes it needs to take drastic measures, that's a bad sign for the state of the economy. And don't expect rate cuts <a target="_blank" href="https://markets.businessinsider.com/news/stocks/fed-interestrate-cuts-stock-market-bull-run-upside-outlook-jpmorgan-2024-9">to send stocks soaring</a>.I don't blame you if you're sick of this back-and-forth economy. Experts have waffled to and fro about where things are headed for more than a year.But at least Friday represents the end of the tunnel. The question is if it'll be bright or dark.<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Elon Musk tweeted something <a target="_blank" rel="noopener" href="https://www.businessinsider.com/elon-musk-hitler-tucker-carlson-advertisers-2024-9">even he can't defend</a>.</li><li>Longtime Unilever media exec Luis Di Como is leaving <a target="_blank" href="https://www.businessinsider.com/unilever-top-media-exec-luis-di-como-leave-amid-restructuring-2024-9">amid a broader shake-up of the business</a>.</li><li>Russia built a secret trade channel with India, <a target="_blank" href="https://www.businessinsider.com/russia-india-payment-issues-us-west-sanctions-rupees-ukraine-war-2024-9">leaked documents</a> show.</li><li><a target="_blank" href="https://www.businessinsider.com/millennium-technology-prize-baliga-semiconductor-invention-igbt-changed-world-2024-9">Meet the professor</a> who just won the Millennium Technology Prize — and $1.1 million.</li><li>A top New York official was <a target="_blank" href="https://www.businessinsider.com/linda-sun-new-york-governor-top-aide-salted-ducks-china-2024-9">paid off by China</a> with salted ducks, a job for her cousin, and millions to her husband's business: DOJ.</li><li>Barron Trump is <a target="_blank" href="https://www.businessinsider.com/barron-trump-attending-new-york-university-college-2024-9">going to NYU</a>.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Photo illustration of Jensen Huang" height="1000" width="1333" msid="113099203" hostid="261" sizebytes="150634"></div><ol><li>Nvidia's two all-important numbers. After a volatile few days of trading, technical analysts are looking at the <a target="_blank" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-outlook-technical-analysts-eye-danger-zone-levels-2024-9">psychological $100 level and then the 200-day moving average</a>, which is just below $90. If Nvidia's share price drops below the latter, "NVDA's market leadership status may be lost," LPL technical strategist Adam Turnquist told BI.</li><li>The latest casualty of AI: Oil prices. Goldman Sachs analysts believe the tech will improve logistics and boost oil recovery. Even with the higher demand to power AI, the increased supply <a target="_blank" href="https://markets.businessinsider.com/news/commodities/ai-oil-prices-productivity-logistics-supply-demand-energy-goldman-sachs-2024-9">will drive prices down over the next decade</a>. But the "Dr. Doom" economist sees oil prices going the other way amid <a target="_blank" href="https://markets.businessinsider.com/news/commodities/economy-oil-prices-outlook-stagflation-israel-iran-war-nouriel-roubini-2024-9">deepening conflicts in the Middle East</a>.</li><li>The road to November will be rocky for stocks. Market vet Ed Yardeni sees market "choppiness" in the lead up to the US presidential election. But don't worry. Record highs could be back on the menu, <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-volatility-presidential-election-ed-yardeni-gridlock-selloff-2024-9">depending on how things go</a>.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Photo illustration of Hemant Taneja." height="1500" width="2000" msid="113099197" hostid="261" sizebytes="249928"></div><ol><li>The weirdest startup in healthcare has a blank check from a top VC firm. Usually, startups must fight tooth and nail to prove they're worthy of investors' attention. The healthcare startup Commure has an unusual advantage: its cofounder is the CEO of General Catalyst. He'll do <a target="_blank" href="https://www.businessinsider.com/healthcare-weirdest-startup-commure-blank-check-general-catalyst-hemant-taneja-2024-9">whatever it takes</a> to see the startup win.</li><li>How to survive online in the age of AI. AI models and chatbots are changing how online information is consumed, affecting website traffic. In order to stay relevant in this new digital ecosystem, website owners need speed and <a target="_blank" href="https://www.businessinsider.com/frontier-content-survive-online-ai-2024-9">exclusive "frontier content"</a> their viewers can't get anywhere else.</li><li>Apple and Meta can't stop fighting over who's in charge of protecting the kids. Everyone and their mother is mad at Mark Zuckerberg's company for contributing to the youth mental health crisis. Meta says it should be up to the App Store to verify users' ages, but <a target="_blank" href="https://www.businessinsider.com/meta-apple-feud-app-store-child-teen-mental-health-2024-9">Apple won't budge</a>.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="A skull in the middle of objects that have been subject to mass torts." height="1800" width="2400" msid="113099201" hostid="261" sizebytes="797548"></div><ol><li>You may be entitled to financial compensation. Mass torts allow hundreds of thousands of people to seek damages for harm caused by things like asbestos, contaminated water, or carcinogenic baby powder. <a target="_blank" href="https://www.businessinsider.com/mass-torts-lawsuits-lawyers-settlements-strippers-hard-partying-money-2024-9">Here's how they took over America's courts</a>.</li><li>ESPN's Big Apple betting dreams. The sports network is <a target="_blank" href="https://www.businessinsider.com/espn-bet-new-york-launch-online-sports-betting-fanduel-draftkings-2024-9">launching ESPN Bet in New York</a> as football season begins. Though the betting app may be regaining some momentum, it's going to be tough to beat FanDuel and DraftKings.</li><li>Andreessen Horowitz says adios to Miami. The VC firm has reportedly <a target="_blank" href="https://www.businessinsider.com/andreessen-horowitz-leaves-miami-florida-office-report-2024-9">abandoned its South Florida office</a> just two years into a five-year lease, a sign that the recent tech and crypto migration to Miami may be short-lived.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>You don't have to be a millionaire to retire before 50, an accountant says. <a target="_blank" href="https://www.businessinsider.com/accountant-retired-before-50-without-1-million-savings-2024-9">Here's how she did it</a>.</li><li>Why 'fake heiress' Anna Sorokin, quietly released from house arrest, can <a target="_blank" href="https://www.businessinsider.com/anna-sorokin-house-arrest-dancing-with-the-stars-ankle-monitor-2024-9">compete in 'Dancing With the Stars'</a> with an ankle monitor.</li><li>Raising Cane's just offered a rare glimpse into its finances — <a target="_blank" href="https://www.businessinsider.com/raising-canes-revenue-private-debt-offering-todd-graves-net-worth-2024-9">and the chicken-finger giant is growing like crazy</a>.</li><li>This leaked 2007 DoubleClick pitch deck is set to play a central role in <a target="_blank" href="https://www.businessinsider.com/leaked-deck-doubleclick-acquisition-pitch-google-adtech-antitrust-trial-2024-9">Google's blockbuster adtech antitrust trial</a>.</li><li>George R. R. Martin criticized the changes made by 'House of the Dragon' <a target="_blank" href="https://www.businessinsider.com/george-rr-martin-house-of-the-dragon-changes-criticism-maelor-2024-9">in a quickly deleted blog post</a>.</li><li>Airbnb CEO Brian Chesky says women founders say they can't go 'founder mode' like men and <a target="_blank" href="https://www.businessinsider.com/airbnb-ceo-brian-chesky-women-say-cant-go-founder-mode-2024-9">that it needs to change</a>.</li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Court hearing in Donald Trump's Jan. 6 case after Supreme Court ruled acts covered by presidential immunity.</li><li>Toronto International Film Festival (TIFF) begins.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Hallam Bullock, senior editor, in London. Milan Sehmbi, fellow, in London. Amanda Yen, fellow, in New York.

US economy's fate hangs on jobs report as Fed decides how deep cuts will go

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Happy Friday! Elections can be stressful, so take some tips from new research on how to lower your blood pressure. <a target="_blank" href="https://www.businessinsider.com/lower-your-blood-pressure-5-minutes-exercise-a-day-study-2024-11">Daily short, intense workouts</a> can be your best bet to fight disease and improve longevity.In today's big story, the Fed <a target="_blank" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">cutting interest rates yesterday was never really in doubt</a>. What comes next isn't as clear.What's on deck:<ul><li>Markets: Goldman Sachs announced <a target="_blank" href="https://www.businessinsider.com/goldman-sachs-partners-revealed-see-full-list-names-diversity-women-2024-11">its newest class of partners</a>.</li><li>Tech: The stock market is already indicating <a target="_blank" rel="noopener" href="https://www.businessinsider.com/big-tech-winners-losers-trump-election-win-according-to-market-2024-11">winners and losers among Big Tech</a>.</li><li>Business: Hiring experts are predicting <a target="_blank" href="https://www.businessinsider.com/trump-win-affect-job-hiring-trends-and-employer-confidence-2024-11">a "Trump bump" for the jobs market</a>.</li></ul>But first, more relief … for now.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h3 id="7fa5f018-5b05-4a37-a8dc-d3f89138bcb3">The big story</h3><h2 id="5fd547b9-ec52-41fc-8e08-4f4b27dd8097">The Fed's new conundrum</h2><div type="image" title="Jerome Powell on top of stock market chart going down." height="900" width="1800" msid="115090330" hostid="261" sizebytes="70080"></div>Americans got a bit more relief from the Fed, but questions are swirling about what the president-elect means for future plans.The Federal Reserve <a target="_blank" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">cut interest rates by 25 basis points Thursday</a>, its second-straight reduction since September in a move that was largely expected. Additional rate cuts aren't as clear, though, as Donald Trump's proposed widespread tariffs <a target="_blank" href="https://www.businessinsider.com/trump-inflation-interest-rates-fed-rate-cuts-fomc-meeting-outlook-2024-11">could slow down the Fed's plans</a>.Economists have said Trump's 10-20% blanket tariff on most imported goods will cause inflation to flare up as producers and importers pass the cost of the tax onto consumers. Prior to the election, Nobel economist Paul Krugman said Trump's tariff plans would result in an "inflationary shock that is bigger than almost anything else you could do through federal policy."It's not just speculation from economists. The market is indicating inflation could lead the Fed to keep borrowing rates high. Treasury yields soared the day after the election, a sign Wall Street sees interest rates staying elevated.Interest-rate traders have also recalibrated their expectations. The chances of a 25-point December rate cut went from 83% at the start of the month down to as much as 63% yesterday following the Fed's announcement, according to the CME FedWatch tool. (It currently stands around 75%.)<div type="image" title="Photo of Donald Trump" height="1279" width="1920" msid="115090327" hostid="261" sizebytes="95086"></div>Still, speculating on what could come from a president-elect is a tricky game.Greg McBride, chief financial analyst at <a target="_blank" href="http://Bankrate.com">Bankrate.com</a>, told Insider Today that Fed Chair Jerome Powell didn't indicate a pause in cuts was coming in December during Thursday's press conference. Powell also emphasized the election won't impact the central bank's near-term actions, McBride added."Until there are policy specifics being passed into law, there is nothing for the Fed to put in their economic models and they won't speculate or assume anything in the interim," McBride wrote via email.There's also the question of whether Trump's tariff would be as inflationary as some fear. During his first term, the former president issued tariffs against China that didn't cause prices to spike.Trump's proposals this time around are much more aggressive, but it's not clear what will actually be put in place."Nobody knows what will be implemented and what is just posturing for negotiation," McBride added.Dominique Lapointe, director of macro strategy for Manulife Investment Management, told Insider Today via email the firm's base case is still a 25-point cut in December. The Fed would change course in reaction to tariffs only if they are official and making an impact, meaning the central bank's policy likely wouldn't change until mid-2025, Lapointe added.One thing that is clear: <a target="_blank" href="https://www.businessinsider.com/powell-wont-resign-federal-reserve-step-down-trump-election-2024-11">Powell's not leaving</a>.When a reporter asked the Fed leader if he would resign if Trump, who has been critical of him, asked him to step down, his response was simple: "No."<h3 id="77f31a4c-8462-4e3d-a71f-838cb79493fb">News brief</h3><h2 id="1fcd294b-3f53-425f-9f20-4093e8623b59">Top headlines</h2><ul><li>Democrats wished the election was about jobs. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/how-trump-won-election-high-prices-cost-of-living-unemployment-2024-11">Trump's win showed it was about prices</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/china-economy-local-government-debt-rescue-trump-us-presidential-election-2024-11">China announced a $1.4 trillion stimulus package</a> to boost its economy on the heels of Trump's election.</li><li>Airbnb reported its earnings. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/airbnb-earnings-shares-most-interesting-things-cohost-2024-11">Here are four highlights</a>.</li><li>Trump said he will divide Russia from China. <a target="_blank" href="https://www.businessinsider.com/donald-trump-plan-divide-china-russia-axis-is-likely-fail-2024-11">It's a tough bromance to break</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/peter-thiel-prediction-correct-election-trump-harris-2024-11">Peter Thiel's 'contrarian'</a> election prediction came true.</li></ul><h2 id="8120060b-ae66-48dc-b149-f0489a30ffa2">3 things in markets</h2><div type="image" title="Photo of MAGA hat on exchange desk" height="655" width="1000" msid="115090331" hostid="261" sizebytes="44410"></div><ol><li>Morningstar thinks you should stay the course with your investment plan. Trump's win sent the stock market surging, but that <a target="_blank" href="https://www.businessinsider.com/trump-trade-election-investing-stock-market-strategy-sp500-valuations-morningstar-2024-11">doesn't mean you should rethink your investing strategy</a>, Morningstar Senior US Market Strategist Dave Sekera said. His call for restraint is partly due to how high stock valuations currently are, although he does see opportunity among small-caps.</li><li>The new Goldman execs who just got the call of a lifetime. Goldman Sachs tapped<a target="_blank" href="https://www.businessinsider.com/goldman-sachs-partners-revealed-see-full-list-names-diversity-women-2024-11"> 95 people to join its exclusive partnership</a> on Thursday, a record high under CEO David Solomon. Twenty-six of the new partners are women, a group closely watched after a series of high-profile female partner exits.</li><li>Trump's election might be Citi's saving grace. The bank has spent more than $7.4 billion addressing regulators' concerns, specifically about its data and risk problems. <a target="_blank" href="https://www.businessinsider.com/trump-election-citi-jane-fraser-regulators-frc-occ-2024-11">Donald Trump could ease that pain</a>. The president-elect has signaled he'd cut down on Wall Street oversight, previously pledging he'd eliminate 10 rules for each new one.</li></ol><h2 id="f4b54806-7f81-450c-ba32-92560d4fae9b">3 things in tech</h2><div type="image" title="Musk and Trump." height="2499" width="3329" msid="115090332" hostid="261" sizebytes="268836"></div><ol><li>How Elon Musk swung Pennsylvania for Trump. The tech tycoon <a target="_blank" href="https://www.businessinsider.com/elon-musk-pennsylvania-america-pac-donald-trump-harris-2024-11">spent millions on the Keystone State</a> to deliver it to Trump, launching a last-minute canvassing effort and untested ground-game techniques. Musk's strategy could usher in a "new era" in campaign spending, one political scientist told BI.</li><li>Big Tech's biggest winners and losers after Trump's victory. Which companies stand to gain the most under a new Trump presidency? BI looked at the two-day stock performance of <a target="_blank" rel="noopener" href="https://www.businessinsider.com/big-tech-winners-losers-trump-election-win-according-to-market-2024-11">many of the largest tech companies to find out</a>.</li><li>Trump's plan to "never ban" TikTok will be tough to fulfill, legal experts say. The former president campaigned on the promise that TikTok would be here to stay. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/donald-trump-block-tiktok-ban-legal-experts-2024-11">But legal experts told BI he's only got two options to try and save it</a> — and neither of them are straightforward.</li></ol><h2 id="9260fa45-d397-4b3c-b4f8-4bb193976216">3 things in business</h2><div type="image" title="Image of Walmart sign outside store" height="1280" width="1920" msid="115090336" hostid="261" sizebytes="228442"></div><ol><li>Retail giants prepare for Trump 2.0. Tariffs are the biggest concern for superstores like Walmart, Target, and Costco. If the president-elect follows through on his campaign promises, consumers could foot the bill of high tariffs through higher prices. On the other hand, tax cuts could spur spending — <a target="_blank" href="https://www.businessinsider.com/trump-win-retail-impact-walmart-costco-target-tariffs-tax-cuts-2024-11">but they'd take many months to see results</a>.</li><li>The job market under Trump. Hiring experts expect a "Trump bump" as employers get comfortable posting openings now that the election's outcome is clear. They forecast a postelection hiring rush and <a target="_blank" href="https://www.businessinsider.com/trump-win-affect-job-hiring-trends-and-employer-confidence-2024-11">increased demand in some sectors</a>, particularly tech.</li><li>David Zaslav is optimistic about Trump's effect on Big Media. The Warner Bros. Discovery CEO wanted a president who was more open to M&amp;A, since his company has been eyeing consolidation for a while. A second <a target="_blank" href="https://www.businessinsider.com/wbd-trump-zaslav-consolidation-earnings-2024-11">Trump administration might provide that opportunity</a>, Zaslav said on WBD's earnings call, but it's too early to be certain.</li></ol><h2 id="1ad7b482-3f4b-44b4-81b6-a864aa386478">In other news</h2><ul><li>The Polymarket 'whale' actually made $85 million, <a target="_blank" href="https://www.businessinsider.com/polymarket-whale-banked-85-million-profit-trump-president-election-win-2024-11">far more than originally thought</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/harris-lost-biden-unpopularity-trump-election-2024-11">Harris couldn't escape</a> Biden's unpopularity.</li><li>Investors accuse the ex-CEO of the company that helped take Trump Media public of <a target="_blank" href="https://www.businessinsider.com/ex-ceo-patrick-orlando-lawsuit-trump-media-investors-shares-2024-11">stiffing them out of millions of shares</a>.</li></ul><h2 id="9f5d80ac-3466-429f-a50a-2ffbb70c65ff">What's happening today</h2><ul><li>Paramount, Sony, and other companies report earnings.</li><li>Grammy Award nominations are announced.</li></ul>The Insider Today team: Dan DeFrancesco, deputy editor and anchor, in New York. Jordan Parker Erb, editor, in New York. Hallam Bullock, senior editor, in London. Ella Hopkins, associate editor, in London. Amanda Yen, fellow, in New York. Milan Sehmbi, fellow, in London.

Fed cuts rates again, but Trump's tariff plan sparks inflation fears and market uncertainty

<ul class="summary-list"><li><keyword id="23944870" type="General" weightage="100" keywordseo="Sonya-Moore" source="keywords">Sonya Moore</keyword> decided that if Trump won in 2016, she would leave the US.</li><li>She followed through and has been living abroad for seven years.</li></ul>"If Trump wins this election, I'm <a target="_blank" class="" href="https://www.businessinsider.com/trump-reelected-americans-are-planning-to-flee-in-droves-2024-3">moving out of the country</a>." I said those words in November 2016. So did a lot of other Americans: so many, in fact, that <a target="_blank" class="" href="https://www.businessinsider.com/canadian-immigration-site-crash-election-2016-11">Canada's immigration website crashed</a> as votes were being tallied due to increased traffic. No joke. I don't know how many others <a target="_blank" class="" href="https://www.businessinsider.com/americans-who-left-us-because-of-trump-talk-biden-presidency-2020-12">followed through on that declaration</a>, but I did. Trump won the election, and 9 months later, I left the US. Full disclosure: Trump becoming president was not the only reason I left — it was also about being fed up with my corporate job, coupled with a strong desire to explore the world. I was 37, single, with no children or pets, so I was free to <a target="_blank" class="" href="https://www.businessinsider.com/working-mom-quit-job-expat-move-abroad-qatar-singapore-2023-12">quit my job</a>, uproot myself, and take off. I did own a house at the time, which I sold a few months after I left. Upon my departure, I didn't have much of a plan other than the intention to spend some time slowly exploring Asia and teaching English when I needed to make money. This no-plan thing was out of character for me, but I was very comfortable with <a target="_blank" class="" href="https://www.businessinsider.com/southeast-asia-travel-mistakes-packing-weather-clothing-traditions-medicine-2024-4">solo international travel</a>, thanks to previous study abroad experiences and 14 years of intensive overseas work-related travel. <div type="image" title="Sonya Moore in Siem Reap, Cambodia" height="1280" width="1600" msid="115071450" hostid="261"></div><h2>The move opened a new chapter in my life</h2>As months unfolded, I discovered that when you leave space for it, life guides you to the places, people, and opportunities that are meant for you. Seven years later, I'm still living <a target="_blank" class="" href="https://www.businessinsider.com/boomer-couldnt-afford-retirement-in-california-moved-abroad-travel-happy-2024-10">happily outside the US</a>. While my decision to leave opened up a horizon of experiences beyond my wildest dreams and led me to the man of my dreams, it hasn't all been a bed of roses. The first year, I lived off savings while traveling slowly through Asia. I started my travels in India, where I spent 10 days at a silent meditation retreat, attended teachings by the Dalai Lama, and took a <keyword id="20626363" type="General" weightage="20" keywordseo="yoga-teacher-training" source="keywords">yoga teacher training</keyword>. I promptly got hooked on teaching yoga. After four months in India, I continued <a target="_blank" class="" href="https://www.businessinsider.com/what-to-pack-traveling-in-southeast-asia-singapore-thailand-bali-2023-9">making my way through Asia</a> for eight more months. I swam in the crystal clear waters of the Maldives, visited healers in <a target="_blank" class="" href="https://www.businessinsider.com/american-family-kids-bali-decompress-relocate-slow-life-work-remote-2024-10">Bali</a>, witnessed breathtaking sunrise views from mountaintops in Laos, went island-hopped through the Philippines, rode motorbikes around Thailand's islands, and discovered ancient pagodas in Myanmar The cost of living in much of Asia is so low that savings can stretch a long way. I have high standards for my accommodations, and while traveling, I usually spent around $20 to $25 per night on hotels. Lower-maintenance friends of mine found simpler places for $6 per night in India. Meals usually cost around $3. After six weeks in India, I considered a lunch bill of $5 to be expensive. <h2>There have been times along the way when I've felt lost </h2>From time to time, I experienced stretches of feeling <a target="_blank" class="" href="https://www.businessinsider.com/relocation-moved-to-milan-living-abroad-emotionally-exhausting-unspoken-truths-2023-9">unsettled and lacking a sense of purpose</a>. Over the years, I learned that those periods of doubt and uncertainty will continue to surface. But I also learned to just keep trusting, and the way forward would eventually reveal itself. People often ask me if I was ever afraid while <a target="_blank" class="" href="https://www.businessinsider.com/what-women-need-to-know-traveling-solo-southeast-asia-tips-2022-12">traveling alone through Asia</a>. I never was — except a couple of times in India when riding on some precariously high Himalayan roads with no guardrails. But of people? I never had a reason to be. After a year away, I found an opportunity to teach yoga in a small mountain town in Myanmar. Life there was quiet, simple, and beautiful. I lived there for 9 months, and I was profoundly happy most of the time. But there were times <a target="_blank" class="" href="https://www.businessinsider.com/loneliness-how-to-make-friends-remote-worker-freelancer-new-city-2024-2">I felt lonely</a>. The locals were sweet and kind, with love in their eyes and actions, but I missed friends who spoke my language fluently, with whom I could have deep conversations over a glass of wine. And the dating scene? Nonexistent. <div type="image" title="Sonya Moore kissing a man at the airport" height="2118" width="1754" msid="115071453" hostid="261"></div><h2>I found love during my travels</h2>Another yoga teaching opportunity took me to Siem Reap, Cambodia. Siem Reap is not a big city, but after my small-town Myanmar life, it felt like Manhattan. There were so many restaurants, bars, social events, friends, and even some attractive single men. I fell in love with the town, the quality of life, and the locals. It was easy to get a tourist or work visa to live here long term, and it was almost as inexpensive as India and Myanmar. I was living in Siem Reap when COVID-19 hit. By that time, I was in a <keyword id="20752574" type="General" weightage="20" keywordseo="long-distance-relationship" source="keywords">long-distance relationship</keyword> with a French man I met during my travels. After the closed borders of the pandemic kept us apart for 7 months, I moved to France to be with him. Our story was long and winding, but it felt like destiny. He <a target="_blank" class="" href="https://www.businessinsider.com/my-partner-couple-travel-together-full-time-one-date-2024-5">loves global travel</a> like I do. We've been together for four years and are living together in Papua New Guinea. Our plan is to go back to a nomadic slow-travel lifestyle. My career has gradually evolved to encompass creative pursuits that light me up inside: retreats, writing, photography, and yoga. I am deeply grateful to my former self for <a target="_blank" class="" href="https://www.businessinsider.com/live-abroad-cheap-low-cost-living-high-quality-life-2024-1">choosing to leave the US</a>. I sometimes miss family and friends, but thanks to technology, our connection stays alive across the distance, and I go back to visit once a year. I still love America and feel lucky to have been born and raised there. But there's a big world out there waiting to be discovered. Do you have a personal essay about relocating to Asia that you want to share? Get in touch with the editor at <a target="_blank" href="mailto:akarplus@businessinsider.com">akarplus@businessinsider.com</a>. November 11, 2024 — An earlier version of this story mentioned Trump becoming president was not the reason Moore left, it was not the only reason.

I swore I would leave the US if Trump won the 2016 election. Here's how that worked out for me.

<ul class="summary-list"><li>Economists at the Peterson Institute studied what would happen if Trump undermined Fed independence.</li><li>They found that GDP would shrink, inflation would rise, and capital would flow to other countries.</li></ul>In August, Trump floated the idea that, as a successful businessman, he should have "at least" a say in the Federal Reserve's monetary policy.A new study by the Peterson Institute of International Economics, a renowned nonpartisan think tank, found that such an idea could have catastrophic economic consequences. The <a target="_blank" href="https://www.piie.com/sites/default/files/2024-09/wp24-20.pdf">study's lead researchers</a> dug into the economic impact of three of Trump's campaign promises: <a target="_blank" href="https://www.businessinsider.com/trump-mass-deportation-immigraiton-plan-federal-reserve-inflation-2024-9">mass deportations</a>, <a target="_blank" href="https://www.businessinsider.com/jared-golden-10-percent-tariff-bill-trump-2024-9">tariffs</a>, and eroding Fed independence.Throughout the course of a prospective Trump term, <a target="_blank" href="https://www.businessinsider.com/donald-trump-campaign-fed-independence-jerome-powell-interes-rates-politics-2024-4">undermining the central bank's independence</a> would lead to $304 billion in economic losses, the study found. While Trump has not specified exactly how he would interfere in the Fed, the researchers assumed he is successful and <a target="_blank" href="https://www.businessinsider.com/interest-rate-cut-trump-fed-powell-reaction-independence-history-2024-9">pressured the bank to jack up economic growth</a> when conducting their study. They found that such action would result in lower GDP and higher inflation through 2040.Business Insider spoke with one of the study's authors, Warwick McKibbin, a senior fellow at PIIE. He said that initially, GDP and employment would rise, but that inflation and input costs would go up soon after. Eventually, capital would flow out of the US, causing the dollar to fall in value."It's like the party at the front and the hangover after four years," McKibbin said over the phone. He said that by 2028, <a target="_blank" href="https://www.businessinsider.com/fed-rate-cuts-inflation-kamala-harris-election-impact-2024-9">inflation would be built into the system</a> at an additional 2% per year and the economy would shrink.Domestic producers would bear the brunt of the consequences due to rising input costs. As domestic goods get more expensive, workers' purchasing power would go down, McKibbin said. All the while, the researchers argue that investors would get spooked by the politicized Fed and start directing their capital to other countries starting around 2026. Production would shift to other parts of the world, including China, the study found."Ironically, it means the rest of the world gets this free lunch because all that capital that would have gone into building America's future growth will now get invested somewhere else, mainly Canada, Mexico, and China, as well as Australia," McKibbin told Business Insider. Though Trump promises an America First economic agenda, McKibbin said that taking control of the Fed would get him the opposite results.According to the study, the economy would hit a low point in 2028 and begin rebounding."But not back to where you were," McKibbin said.He said the capital stock would feel the impact for a long time, and full recovery could take decades.While Trump's specific ideas about the Fed remain murky, some of his allies are quietly drafting plans on how to strip the central bank of independence, <a target="_blank" href="https://www.wsj.com/economy/central-banking/trump-allies-federal-reserve-independence-54423c2f">the Wall Street Journal reported</a>. The 10-page manifesto apparently includes policy shifts and suggests the president should have a direct say over interest rates. Sources told the Journal the group thinks Trump should be able to fire Jerome Powell as Fed chair before his term ends in 2026.Trump hasn't publicly acknowledged the plans and his advisors said they're not endorsed by the campaign. McKibbin and his fellow researchers did not examine Vice President Kamala Harris' policies in the same way because, according to the paper, she has not "proposed any major departures from the Biden administration's policies and none with as significant international economic implications as Trump's."Still, McKibbin said he wishes there was more research on the subject. He doesn't think the public is paying enough attention to the risks of Trump's Fed proposals or the overall murkiness of the candidates' economic policy. Neither Trump nor <a target="_blank" href="https://www.businessinsider.com/what-you-need-to-know-about-kamala-harris-opportunity-economy-2024-9">Harris</a> has shared much about how to <a target="_blank" href="https://www.businessinsider.com/trump-harris-economy-tech-debate-tariffs-taxes-2024-9">enact their proposals</a> or their long-term economic impacts."If you're going to advocate a policy, there has to be evidence as to why you're advocating that policy," McKibbin said.The policy haziness persists even as the <a target="_blank" class="" href="https://www.businessinsider.com/what-us-economy-would-look-like-with-trump-biden-presidency-2024-5">economy is a top issue for many voters</a> and potentially the deciding issue in the election.

A researcher who studied Trump's plans to control the Fed said it could tank the economy

<ul class="summary-list"><li>US indexes edged higher as investors waited for a likely interest rate cut from the Fed. </li><li>The central bank will wrap up its policy meeting at 2 p.m. ET, with markets pricing in a 50 basis point move. </li></ul>US stocks rose on Wednesday as traders readied for what's likely to be the Federal Reserves's first rate cut in four years. Major indexes were slightly higher after the opening bell, with the S&amp;P 500 looking to hit a fresh record after touching all-time highs in Tuesday's session. Bond yields rose. The 10-year Treasury yield was up three basis points to 3.677%. Central bankers are set to conclude their policy meeting and announce their highly anticipated decision on interest rates at 2 p.m. ET, with markets betting on a rate cut with certainty. Investors are pricing in a 61% chance the Fed will cut rates 50 basis points, according to the <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch tool</a>, down slightly from 63% odds priced in on Tuesday. The debate has swung in favor of a larger rate cut versus a 25 basis point move following recent data points that support more rapid Fed easing. Softer labor market condition in July and August and a slight rise in the monthly core consumer price index last month bolster the case for a 50 basis point move, traders say. Still, forecasters expect the Fed to tread cautiously given the upside risks to inflation stemming from loosening monetary policy too quickly. "Though consensus is leaning toward a 50 basis point move, we look for the Fed to cut by 25 basis points today. Inflation growth is not yet at the Fed's target for price stability, the unemployment rate still hovers around 4.0%, and federal deficit spending continues to surge," John Lynch, chief investment officer at Comerica Wealth Management, said in a note Wednesday morning. "We suspect this next rate cycle may resemble the non-recessionary 'tweaks' of 1995.""Sure, there are risks of further labor market cooling, but I see the reignition of price pressures as a graver danger," José Torres, a senior economist at Interactive Brokers, said, predicting a quarter-point cut.Following the interest rate decision, all eyes will be on Fed Chair Jerome Powell, who will deliver prepared remarks during a press conference. Whether he strikes a dovish or hawkish tone, his commentary is likely to sway markets. "Powell will face a communications challenge regardless of their chosen action. If the Fed opts for a 25bp reduction, the Chair will have to project confidence about the outlook and assuage concerns about the Fed falling behind the curve. Conversely, if they cut by 50bps, Powell will need to avoid sending negative signals about the economy and dissuade markets from pricing a sequence of large reductions. These will be challenging — but manageable — communications," Deutsche Bank strategists said.Investors should gear up for potential volatility whatever the Fed ends up deciding. While the market has been building toward this moment for most of the year, it shouldn't be assumed the move is fully priced in, and a sharp swing in either direction is possible. "The intraday path on Powell Fed Days has been interesting, to say the least," Bespoke Investment Group said in a note. "While the market has usually bounced immediately following the 2 PM rate decision, the sell-off usually starts at or near the end of Powell's post-FOMC press conference."Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Wednesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,635.51, up 0.02%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 41,537.05, down 0.17% (-69.13 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,664.14, up 0.21%</li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/bitcoin-price-increase-outlook-cryptocurrency-fed-rate-cut-risk-recession-2024-9">Bitcoin is surging on hopes rate cuts could drive a speculative rush</a> into the cryptocurrency.</li><li>The more <a target="_blank" class="" href="https://www.businessinsider.com/fed-rate-cuts-outlook-jerome-powell-fomc-economy-recession-bmo-2024-9">markets price in a jumbo rate cut</a>, the more likely the Fed is to deliver, according to BMO.</li><li>The <a target="_blank" class="" href="https://markets.businessinsider.com/news/currencies/us-debt-crisis-dedollarization-dollar-dominance-treasury-bond-china-jpmorgan-2024-9">biggest threat to the US dollar</a> is America's exorbitant debt load, according to JPMorgan.</li></ul>In commodities, bonds, and crypto:<ul><li>Oil futures edged down.<a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price"> West Texas Intermediate</a> crude oil dipped 0.7% to $70.69 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, edged lower 0.6% to $73.31 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> ticked 0.4% higher to $2,604 an ounce.</li><li>The 10-year Treasury yield edged up three basis points to 3.677%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> rose 1% to $60,041. </li></ul>

Stock market today: Indexes edge up ahead of major Fed interest rate decision

<ul class="summary-list"><li>Evercore founder Roger Altman praised the Fed's handle on the US economy.</li><li>He told CNBC that current conditions are "nearly perfect." Only inflation needs to come down.</li></ul>The Federal Reserve's handling of the economy has one big admirer.In a Monday-morning appearance on <a target="_blank" class="" href="https://www.cnbc.com/video/2024/09/23/evercores-roger-altman-on-the-economy-a-nearly-perfect-overall-environment.html">CNBC,</a> Evercore founder Roger Altman praised the Fed for delivering "nearly perfect" economic conditions, citing strength in equities, profits, and employment. Only inflation — which still hovers above the Fed's 2% target rate — is holding off an official soft landing declaration, he said."If the landing is finished, and the Fed hits its target, Powell, I think, will deserve an 'A,'" Altman said, referring to the Fed's chairman. "It will be a pretty miraculous achievement."He doesn't see the completion of the landing taking much longer.Although there are some concerns rate cuts will <a target="_blank" href="https://www.businessinsider.com/inflation-federal-reserve-interest-rate-cut-fomc-labor-market-outlook-2024-9">reignite inflation</a>, Altman is expecting to see a slowdown this week when new consumption-expenditures data is released.He also shared his thoughts on the Fed's decision to go with a jumbo rate cut last week. "I think what essentially happened was that the Fed saw the path on inflation steadily downward as more certain than the path on labor markets, a little more uncertainty about labor markets," Altman said. "So it took a stronger step to fortify labor markets, and went for 50."Altman's support of the Fed is a bit of an about-face for the bank founder. Last year he was among those warning that tighter interest rates could push the <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-economy-inflation-recession-signals-fed-powell-evercore-2023-3">US into recession</a>. Now he's praising the fact that unemployment remains at 4.2%, and cited that the annualized <a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a> is on track to achieve its best returns since 1960.Altman joins a growing chorus of economists who have changed their tune on the Fed.In August, former Treasury Secretary Larry Summers acknowledged that the central bank managed to avoid his <a target="_blank" href="https://www.businessinsider.com/fed-interest-rates-recession-outlook-inflation-jobless-labor-market-summers-2024-8">worst-case recession forecasts</a>. Its actions have redeemed it after failing to respond to inflation promptly during the pandemic, he said.

Economic conditions are 'nearly perfect' and the Fed has engineered a 'miraculous' achievement, Evercore founder says

<ul class="summary-list"><li>US stocks were lower Monday as investors braced for the US presidential election. </li><li>Record voter turnout is expected, with over 76 million early votes already cast.</li></ul>US stocks traded slightly lower on Monday as investors prepared for an action-packed week of events.All eyes are on the US Presidential election, with polls set to close Tuesday evening. So far, more than 76 million Americans have voted via mail-in ballots or via early in-person voting, suggesting potential record turnout this year. After <a target="_blank" class="" href="https://www.businessinsider.com/harris-trump-iowa-polling-lead-swing-states-2024-11">a shock Iowa poll showed Kamala Harris leading the state</a> against Donald Trump over the weekend, betting odds have tightened in the race after Trump spent the weeks leading up to the vote far ahead of Harris. For a full rundown of the implications for the economy and stock market based on who wins the election, read BI's deep dive on <a target="_blank" class="" href="https://www.businessinsider.com/election-preview-consumer-outlook-how-trump-harris-housing-taxes-2024-11">the potential impacts here.</a>After the election, investors will shift their attention to the Federal Reserve. The central bank's FOMC meeting is scheduled for Wednesday and Thursday, <a target="_blank" class="" href="https://www.businessinsider.com/interest-rate-cuts-federal-reserve-election-jerome-powell-inflation-jobs-2024-11">with an interest rate decision expected on Thursday.</a>According to the CME FedWatch Tool, markets see a 96% chance of the Fed cutting rates by 25 basis points.Investors will also pay attention to initial jobless claims and productivity data, set to be released Thursday morning.Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,711.31, down 0.31%</li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 41,893.80, down 0.38% (-158.39)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,121.72, down 0.62%</li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://www.businessinsider.com/berkshire-hathaway-apple-stake-cut-quarterly-earnings-2024-11">Berkshire Hathaway trimmed its stake in Apple again. The conglomerate is now sitting of $325 billion in cash.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/us-oil-opec-crude-production-record-oil-prices-commodity-market-2024-11">The US is pumping more oil than ever, and it's complicating things for crude-exporting countries.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/nvidia-replace-intel-dow-jones-industrial-average-2024-11">Nvidia will replace Intel in the Dow Jones Industrial Average, and Sherwin-Williams will replace Dow.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/wall-street-election-predictions-professional-investor-survey-2024-11">Wall Street professionals expect Donald Trump to win the Presidential election, according to a new survey.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil rose 2.59% to $71.29 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was higher by 2.42% to $74.87 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> jumped 0.19% to $2,754.30 an ounce.</li><li>The 10-year Treasury yield declined 11 basis points to 4.284%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> decreased 0.17% to $68.627.</li></ul>

Stock market today: Indexes trade lower as investors brace for US election

To many, <a target="_blank" class="" href="https://www.businessinsider.com/baby-reindeer-timeline-fiona-harvey-richard-gadd-piers-morgan-martha-2024-5">"Baby Reindeer"</a> is known as the <keyword id="19897536" type="General" weightage="20" keywordseo="Netflix" source="keywords" meta.keywordsubtype="org" meta.entityname="Netflix" meta.hostid="261" meta.entityid="Netflix">Netflix</keyword> series that swept the internet in the spring of 2024 with its harrowing, seemingly true tale based on <a target="_blank" class="" href="https://www.businessinsider.com/baby-reindeer-richard-gadd-toxic-empathy-stalker-2024-5">creator Richard Gadd's experience of being stalked</a>. But to <keyword id="21787451" type="General" weightage="20" keywordseo="Fiona-Harvey" source="keywords">Fiona Harvey</keyword>, the show is "<a target="_blank" class="" href="https://www.hollywoodreporter.com/tv/tv-features/fiona-harvey-baby-reindeer-lawsuit-netflix-richard-gadd-1235922751/">the biggest lie in television history</a>." Though "<keyword id="21762646" type="General" weightage="100" keywordseo="Baby-Reindeer" source="keywords">Baby Reindeer</keyword>" dropped on the streamer with little to no marketing fanfare, the series' packaging as a moving and disturbing autobiographical drama drew viewers in immediately: Especially because <a target="_blank" class="" href="https://www.businessinsider.com/baby-reindeer-ending-explained-writer-stalked-real-life-true-martha-2024-4">Gadd, a Scottish comedian who based the series</a> on his one-man show of the same name, also stars as the lead character, Donny. While Gadd took pains on his press tour to emphasize that he'd changed the identifying details of his stalker, a character he'd named "Martha Scott," <a target="_blank" class="" href="https://www.businessinsider.com/baby-reindeer-real-stalker-martha-scott-true-crime-psychologist-2024-5">internet sleuths quickly identified the "real Martha"</a> as 59-year-old Fiona Harvey, a Scottish law graduate living in England. <div type="image" title="Richard Gadd as Donny Dunn and Jessica Gunning as Martha Scott in &quot;Baby Reindeer.&quot;" height="1000" width="1500" msid="112225609" hostid="261"></div>When the hive mind goes looking for trouble, it usually finds it. After a May appearance on <a target="_blank" href="https://www.businessinsider.com/fiona-harvey-baby-reindeer-piers-morgan-interview-million-2024-5">"Piers Morgan Uncensored,"</a> Harvey made good on her threat to sue the streamer, bringing <a target="_blank" class="" href="https://www.businessinsider.com/fiona-harvey-stalker-martha-scott-baby-reindeer-sued-netflix-millions-2024-6">a $170 million lawsuit</a> against Netflix alleging it knowingly defamed her by <a target="_blank" href="https://www.businessinsider.com/baby-reindeer-lawsuit-netflix-true-story-claim-fiona-harvey-2024-6">presenting Gadd's claims in "Baby Reindeer" as the truth</a>. The biggest point of contention and a large portion of Harvey's legal claim is over Gadd's decision to portray Martha as a twice-convicted serial stalker; in real life, Harvey was never convicted of any crime, though Gadd did bring his complaints against her to the police. The idea of going after a wildly successful Netflix show — "Baby Reindeer" was viewed 88.4 million times, according to <a target="_blank" href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0001065280/d9ac401f-6967-4a26-868c-710952e5f3c0.pdf">Netflix's July letter to shareholders</a>, and is credited with helping the company add 8 million subscribers and make $9.5 billion in revenue in Q2 2024 — might seem like a herculean effort, especially when Harvey is suing in California, a state famous for its anti-SLAPP law that protects artistic creators like Netflix from <keyword id="19903650" type="General" weightage="20" keywordseo="defamation" source="keywords">defamation</keyword> claims. But Harvey just might have a case. And the outcome of her suit is about more than just a potentially massive payday for one woman. <a target="_blank" class="" href="https://www.businessinsider.com/baby-reindeer-timeline-fiona-harvey-richard-gadd-piers-morgan-martha-2024-5">The drama over "Baby Reindeer,"</a> which has been both a boon and a threat to the streamer, reflects a larger reckoning for prestige TV's favorite pastime: adapting true stories. <h2>'Baby Reindeer' is far from the first Netflix drama to face a defamation suit, but its marketing was slightly riskier</h2>"Baby Reindeer" features compelling performances from its cast (four of whom are now first-time Emmy nominees) and powerful writing from Gadd. But the show is far from the first prestige drama to excel on those two fronts — nor is it the first Netflix series to face <keyword id="19982808" type="General" weightage="20" keywordseo="legal-action" source="keywords">legal action</keyword> from a person who didn't like how they were portrayed in it. Rachel DeLoache Williams, a onetime friend of con artist Anna Delvey (aka Anna Sorokin) who accused the fake socialite of conning her out of $62,000, sued Netflix over its series "Inventing Anna," alleging the show portrayed her as a "greedy, snobbish, disloyal, dishonest, cowardly, manipulative and opportunistic person." The streamer<a target="_blank" href="https://www.rollingstone.com/tv-movies/tv-movie-news/netflix-inventing-anna-defamation-lawsuit-1234995042/"> lost its bid</a> to dismiss the case in March 2024. Former New York City prosecutor Linda Fairstein <a target="_blank" class="" href="https://www.latimes.com/entertainment-arts/business/story/2024-06-04/netflix-ava-duvernay-linda-fairstein-when-they-see-us-lawsuit">settled with Netflix</a> and Ava DuVernay in June 2024 after she disputed her portrayal as a "villain" in "When They See Us," DuVernay's award-winning 2019 limited series about the 1989 Central Park jogger case, which Fairstein famously prosecuted (she was portrayed by Felicity Huffman on the show). Two other pending suits involve Netflix's unscripted docuseries. Buster Murdaugh, the son of convicted murderer Alex Murdaugh,<a target="_blank" href="https://www.nbcnews.com/news/us-news/buster-murdaugh-sues-netflix-warner-bros-saying-was-falsely-accused-mu-rcna157783"> sued Netflix</a> over allegations made against him in the docuseries "Murdaugh Murders: A Southern Scandal," and R. Kelly's former assistant filed a complaint against Netflix and Lifetime in February for painting her in a "sinister and defamatory light" in the docuseries "Surviving R. Kelly," which aired on both the streamer and the network. So what's different here? Harvey's lawyer, Richard Roth, told Business Insider in a phone interview that "Baby Reindeer" is a unique case because Netflix didn't market it as a fictionalized drama or say it was "based on" a <keyword id="20352963" type="General" weightage="20" keywordseo="true-story" source="keywords">true story</keyword>. Instead, the show's title card called it a true story outright from the opening moments of the first episode. While Gadd took pains to emphasize on his press tour that the series was "emotionally true" to his experience and not a line-by-line retelling of events, Netflix's marketing, which highlighted things like <a target="_blank" href="https://x.com/netflix/status/1779162630520729877?lang=en">the show's use of real emails</a> Gadd says his stalker sent him, fed the "true story" intrigue. Ultimately, viewers were compelled to play detective and go searching for the real Martha anyway. <h2>Defamation lawsuits are common – but not all of them get this much press</h2>Hollywood has been dramatizing true stories for as long as it has existed. The difference in the beginning was that most of the subjects were long dead: there are dozens of films about the real Macbeth, for instance, and Joan of Arc, each telling the story in a slightly different way. Things got a little more tangled once writers started dramatizing stories involving people who were still alive. One of the earliest examples of a case filed by an individual against a major media company was Street v. NBC, tried in Tennessee in July 1977. The case has similar echoes to the defamation lawsuits we see today. Victoria Street (formerly Victoria Price) sued the network over her portrayal in "Judge Horton and the Scottsboro Boys," a 1976 docudrama that recounted one of the many trials in the <a target="_blank" class="" href="https://www.pbs.org/wgbh/americanexperience/features/scottsboro-ruby-bates-and-victoria-price/">highly publicized Scottsboro case,</a> in which she and another white woman named Ruby Bates accused nine Black teenage boys of raping them on a train forty years earlier. Eight of the nine were sentenced to death for the crime despite a lack of medical evidence, but none were executed after Bates recanted her testimony and the accused received new trials on appeals. Street, who never recanted her testimony, took offense to the way she was portrayed and sued the network on charges of libel and invasion of privacy, arguing that she was no longer a public figure. <a target="_blank" href="https://www.nytimes.com/1982/10/19/obituaries/victoria-p-street-dies-at-77-a-figure-in-scottsboro-case.html">The case was ultimately settled</a> out of court, and Street died at 77 a few years later in 1982. Scores more defamation lawsuits have been filed in the years since, against everything from the 2013 Michael Bay movie "Pain &amp; Gain" (the real kidnapping victim <a target="_blank" href="https://www.hollywoodreporter.com/business/business-news/hollywood-docket-clemency-project-erin-887395/">didn't like</a> how the character based on him was portrayed as "an unlikeable, sleazy, rude, abrasive braggart") to the 2017 FX drama "Feud: Bette and Joan" (Hollywood legend Olivia de Havilland, then 101, would have <a target="_blank" href="https://www.theguardian.com/film/2018/mar/16/feud-olivia-de-havilland-sues-fx">preferred to be excluded</a> from this narrative). With the advent of the streaming wars in the late 2010s, there was a rush to produce the most <a target="_blank" href="https://d18rn0p25nwr6d.cloudfront.net/CIK-0001065280/c5e64982-659f-4726-97c9-c57767c3bec3.pdf">compelling content</a> to win the largest share of subscribers. And while we're still <a target="_blank" href="https://www.businessinsider.com/why-hollywood-remakes-franchises-avatar-percy-jackson-one-piece-2024-3">retreading (and re-retreading) old IP</a> and always chasing the dangling carrot of the ever-elusive Original Idea, more and more shows are riffing on true events. Except instead of focusing on historical figures (though there's plenty of that too), they're increasingly about contemporary stories and people who arguably aren't hugely public personas. And unlike Macbeth and Joan of Arc, those people will absolutely sue you. <h2>Harvey's <keyword id="19905885" type="General" weightage="20" keywordseo="lawsuit" source="keywords">lawsuit</keyword> may not deter Netflix from making more shows like this</h2><a target="_blank" href="https://markets.businessinsider.com/stocks/nflx-stock">Netflix is an incredibly lucrative company</a> with presumably deep pockets — it's settled with everyone from a Georgian chess grandmaster <a target="_blank" href="https://variety.com/2022/tv/news/netflix-queens-gambit-lawsuit-settlement-nona-gaprindashvili-1235361680/">who says she was defamed</a> in "The Queen's Gambit," to former New York prosecutor Fairstein for "When They See Us," to <a target="_blank" href="https://www.businessinsider.com/griselda-blanco-family-settles-lawsuit-against-netflix-sofia-vergara-2024-2">drug queenpin Griselda Blanco's family</a> over "Griselda." Whether they fight Harvey's case in court or opt to settle, the amount it would cost to do either won't bankrupt them. That much we know. The real question is whether the sheets are balanced in the end: Would the cost of legal fees and a potential settlement or damages be more or less than what Netflix has made off "Baby Reindeer"? If it's more, will that stop Netflix and others from making more of these legally risky but creatively compelling shows? Harvey's lawyer Roth doesn't think Netflix particularly cared about the risk of legal action when it greenlit "Baby Reindeer." "I think they say, 'We're going to make so much money on this. If someone sues us, let them sue us,'" Roth says. There's also an argument to be made that any press, even a lawsuit, is good press. "I don't know if I have any inside knowledge about Netflix in particular, but I can say this: This is a very unique time for streamer wars, and Disney+ and Netflix and all these companies trying to land on top, or Netflix trying to stay on top," Jeff Lewis, a First Amendment attorney in Los Angeles, told Business Insider. "And it could be for this window of time, while there's some uncertainty as to which streamer will survive, perhaps Netflix might be more willing to take a risk and get more attention and eyeballs on their screens in exchange for paying some lawyer fees. Who knows?" That said, there's a chance Netflix will have to pay a hefty settlement to make the Harvey situation go away. The streamer has the advantage of the suit being filed in California, which has "one of the most robust pro-defendant defamation laws in the country," Lewis says, pointing out that an anti-SLAPP motion would dismiss the case and make Harvey responsible for paying all of Netflix's legal fees. Sure enough, on July 29, Netflix filed an anti-SLAPPP motion and a motion to dismiss the case, arguing that the claims in "Baby Reindeer" are "substantially true" and that any reasonable viewer would know that the show is not "a documentary representing literally true details and imagery." The streamer's filings included a declaration from Gadd, which detailed instances of harassment he says he faced from Harvey, and a declaration from Laura Wray, another woman who says she was once stalked by Harvey. But if Netflix doesn't win its motions, which are still awaiting judgment as of this writing, Harvey could potentially see a payout anywhere from $200,000 all the way into "mid-seven figures," according to Lewis. Jackie Ward, a Los Angeles-based entertainment attorney specializing in rights and clearances, points to the million-dollar donation Netflix made to the Innocence Project as part of Fairstein's settlement for "When They See Us" as a comparable example. "For Netflix to make something where they think that they do have some sort of liability, to make that go away for something like a million dollars, it's probably worth it to them for a company of that size," Ward says. "A smaller distributor, maybe not."

'Baby Reindeer' landed Netflix 11 Emmy nominations — and a $170 million lawsuit. Was it worth the risk?

<ul><li>The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword>’s <keyword id="20104157" type="General" weightage="20" keywordseo="monetary-policy" source="keywords">monetary policy</keyword> meeting is set to begin today.</li><li>The central bank will announce the outcome of the <keyword id="22684891" type="General" weightage="20" keywordseo="MPC-meeting" source="keywords">MPC meeting</keyword> on October 9.</li><li><keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword> has kept the <keyword id="20094323" type="General" weightage="20" keywordseo="repo-rate" source="keywords">repo rate</keyword> unchanged for the last nine consecutive meetings.</li></ul>The Reserve Bank of India (RBI) is set to begin its three-day monetary policy meeting on Monday and will run from October 7 to October 9. All eyes are on the outcome, as the central bank has kept the repo rate unchanged for the last nine consecutive meetings. The repo rate, currently at 6.50%, has remained steady since the RBI adopted a cautious stance to balance inflation control and economic growth. The Monetary Policy Committee (MPC), headed by RBI Governor <keyword id="19913110" type="General" weightage="20" keywordseo="Shaktikanta-Das" source="keywords">Shaktikanta Das</keyword>, is expected to weigh key factors like inflationary trends, global economic uncertainties, and domestic growth prospects. Inflation continues to be a challenge, particularly in food and fuel prices, which saw a surge earlier this year. As per the data from the Ministry of Statistics &amp; Programme Implementation, though the All India Consumer Price inflation in August was 3.65%, which is under the RBI target band the food inflation stands at 5.65% and it remains above the RBI's medium-term target of 4%. Despite these inflationary pressures, the RBI has opted for a status quo on the repo rate, primarily to support economic recovery post-pandemic. However, there are rising concerns that external factors, like the rising global crude oil prices and tensions in West Asia, may compel the RBI to reconsider its current stance. Earlier this month the central government appointed three new members to the monetary policy committee. The MPC comprises three members from the RBI and three external members appointed by the Central Government. The newly reconstituted committee consists of the Governor of the Reserve Bank of India as the Chairperson, ex officio; the Deputy Governor of the Reserve Bank of India, in charge of monetary policy--Member, ex officio, and one officer of the Reserve Bank of India, nominated by the Central Board -- Member, ex officio. The new external members included in the MPC are Professor Ram Singh, Director, Delhi School of Economics, University of Delhi, Saugata Bhattacharya, economist; and Dr. Nagesh Kumar, Director and Chief Executive, Institute for Studies in Industrial Development. Market participants and analysts are closely monitoring this meeting for any forward guidance on future rate actions. Many believe the central bank will continue its wait-and-watch approach, but a surprise rate hike cannot be entirely ruled out. On September 18, the <keyword id="19901377" type="General" weightage="20" keywordseo="US-Federal-Reserve" source="keywords">US Federal Reserve</keyword> announced a steep 50 basis points interest cut in its review meeting. US Fed announced the rate cuts after holding interest rates steady for eight straight meetings. The outcome of the MPC meeting will be announced on October 9 and will set the tone for future monetary policies amid the changing global economic landscape. The Reserve Bank of India (RBI) will commence its three-day monetary policy meeting on Monday, October 7th, and continue until October 9th. The result of this meeting is eagerly anticipated, as the central bank has maintained a steady repo rate for the past nine consecutive meetings. The repo rate has remained at 6.50% since the RBI adopted a cautious approach to balance inflation control and economic growth. The Monetary Policy Committee (MPC), led by RBI Governor Shaktikanta Das, will consider various factors, including inflationary trends, global economic uncertainties, and domestic growth prospects. Inflation remains a challenge, particularly in food and fuel prices, which surged earlier this year. According to data from the Ministry of Statistics &amp; Programme Implementation, All India Consumer Price inflation in August was 3.65%, within the RBI's target band, however, food inflation stands at 5.65%, exceeding the RBI's medium-term target of 4%. Despite inflationary pressures, the RBI has opted to maintain the repo rate to support economic recovery post-pandemic. Nonetheless, rising concerns about external factors, such as increasing global crude oil prices due to tensions in West Asia, may prompt the RBI to reassess its current stance. Earlier this month, the central government appointed three new members to the monetary policy committee. The MPC consists of three members from the RBI and three external members appointed by the Central Government. It is worth noting that on September 18, the US Federal Reserve announced a substantial 50 basis points interest rate cut in its review meeting, reversing its previous stance of holding rates steady for eight consecutive meetings. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms">September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms">Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms">Airtel is using AI-powered technology to block spam calls and messages</a>

RBI's monetary policy committee meeting begins today, announcement on October 9

<ul class="summary-list"><li>It's all but guaranteed that the Federal Reserve will cut interest rates this week.</li><li>It comes after years of aggressive inflation-fighting from the central bank.</li></ul>The time has finally come: Americans are about to find out <a target="_blank" href="https://www.businessinsider.com/interest-rate-cuts-wall-street-how-much-jackson-hole-fed-2024-8">how big of an interest-rate cut</a> they'll be getting this week.On Wednesday, the Federal Open Market Committee will announce its next move on <a target="_blank" href="https://www.businessinsider.com/jobs-unemployment-interest-rates-economy-recession-soft-landing-2024-8">interest rates</a>, and it's all but certain the nation's central bank will cut for the first time in four years. The big question is how much.According to <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch</a>, which estimates interest rate changes based on market predictions, the size of the rate cut is a coin toss. As of Friday afternoon, there's a 51% chance the Federal Reserve will cut rates by 25 basis points and a 49% chance it'll be an extra-large 50-basis-point cut. The probabilities suggest a near-zero chance that the Fed will hold rates steady."The time has come for policy to adjust," Fed Chair Jerome Powell said during his address at a gathering of central bankers in <a target="_blank" href="https://www.businessinsider.com/interest-rate-cuts-are-coming-federal-reserve-jackson-hole-powell-2024-8">Jackson Hole, Wyoming,</a> last month. "The direction of travel is clear, and the timing and pace of rate cuts will depend on incoming data, the evolving outlook, and the balance of risks."The <a target="_blank" href="https://www.businessinsider.com/inflation-august-consumer-price-index-federal-reserve-rate-cuts-2024-9">consumer price index</a> inflation data that came out last Wednesday was the last large piece of data before the Fed meeting. With August's core CPI coming in unexpectedly hotter than expected, it was looking likely a 50-basis-point cut wouldn't happen. That's because a larger rate cut makes borrowing cheaper, which tends to drive up spending and fuel price increases.The <a target="_blank" class="" href="https://www.businessinsider.com/unemployment-rate-job-growth-interest-rate-cuts-federal-reserve-recession-2024-9">job market</a> also supports a rate cut this month — the unemployment rate ticked down in August but stayed above its recent lows, and hiring gains have cooled. Lower rates ease pressure on companies' bottom lines, freeing up budgets for hiring.Many economists hope that the long-sought soft landing of getting inflation under control while avoiding a devastating recession could be near. "This rate cut is great news for middle-class families, not only does it underscore the Fed is convinced that inflation is coming under control, it signals the economy has recovered to a faster, sustainable growth trajectory and is ready for further investments in job creation," Michael Madowitz, the former director of macroeconomic policy at the Washington Center for Equitable Growth, said.<h2 id="d213ed81-690b-4194-9569-8ae1349857cf">It'll take time for the cuts to set in</h2>Alena McTier, a Gen Zer, had been looking to replace the car she purchased in 2017 this summer, but she was up against sticker shock. She can't wait for the <a target="_blank" href="https://www.businessinsider.com/personal-finance/banking/when-is-the-next-fed-meeting">Fed to announce rate cuts</a>. She told Business Insider she's been <a target="_blank" href="https://www.businessinsider.com/car-prices-falling-forecast-outlook-new-used-electric-vehicle-market-2024-6">holding on to her car</a> "until a solid decision is made" from the Federal Reserve on interest rates."When they are cut, I am going to actively explore the different rates that are available," McTier, who is looking to buy a used vehicle, told Business Insider in August.It could take a while for McTier to see those lower rates. While some parts of the economy will be immediately impacted, there will still be a lag for relief in some sectors."Given the fact that monetary policy does take time to work its way through the system, it'll be the same to some degree with the rate reductions," Mark Hamrick, senior economic analyst for Bankrate, told Business Insider. He added that prime lending rates will likely be adjusted soon after the decision: "Banks adjust their prime lending rates, the rates reserved for their best customers, and those tend to then be reflected in credit card rates immediately," Hamrick said.Credit card interest rates have been at historic highs — a February <a target="_blank" class="" href="https://www.consumerfinance.gov/about-us/blog/credit-card-interest-rate-margins-at-all-time-high/">report</a> from the Consumer Financial Protection Bureau found that the average annual percentage rate on credit cards has almost doubled over the past decade to 22.8% in 2023. However, the lag means that those hoping to pay off credit cards won't be materially impacted by this month's rate cut — it'll take time for the relief to set in.Rate cuts will also eventually make it cheaper for <a target="_blank" class="" href="https://www.businessinsider.com/recession-outlook-small-business-owner-economy-interest-rate-cuts-2024-9">small businesses</a> to take out loans. When it comes to <a target="_blank" href="https://www.businessinsider.com/how-fed-rate-cut-could-impact-mortgage-rates-homebuyers-2024-9">buying a new house</a> or car, the rate cuts could make things slightly cheaper, but they likely won't have a significant impact on costs in the short term. That's because rate cuts' effects on the housing market are complicated. A rate cut could <a target="_blank" class="" href="https://www.businessinsider.com/buying-home-not-easier-interest-rate-cuts-prices-rent-crisis-2024-8">cause a rush of buyers to enter the market</a> in the short term, driving up prices and competition.Still, some Americans are shaping their finances in anticipation of a rate cut. <a target="_blank" href="https://www.nerdwallet.com/h/data/studies-and-data-analysis#rate-cut-actions">NerdWallet</a> found in a July survey that a majority of Americans reported planning to take financial action once interest rates drop, like buying a home or taking out a loan. Almost a quarter of US adults in the survey said they plan to buy a car, while 15% said this about a home."Regardless of what the Fed decides, if you have credit card debt, your credit card debt is going to remain expensive even if interest rates begin to go down a little bit," Sara Rathner, credit cards expert at NerdWallet, said.How are you shaping your finances in anticipation of an interest-rate cut? Are you planning to make any big purchases or investments? Share your story with these reporters at <a target="_blank" href="mailto:asheffey@businessinsider.com">asheffey@businessinsider.com</a> and <a target="_blank" href="mailto:mhoff@businessinsider.com">mhoff@businessinsider.com</a>.

Welcome to interest-rate cut week: Here's how the Fed's next move will impact everything from home prices to new cars loans

<ul><li>US stocks moved slightly higher Monday as investors gear up for a jam-packed week of earnings and economic data.</li><li>Mega-cap tech companies Apple, Microsoft, Amazon, and Alphabet are set to release earnings this week.</li><li>An interest rate decision from the Federal Reserve and the January jobs report will cap off the week.</li></ul>US stocks were little changed in morning trades on Monday as investors <a href="https://markets.businessinsider.com/news/stocks/stock-market-weekly-preview-outlook-tech-earnings-fed-jobs-report-2024-1">gear up for an action-packed week of earnings and economic data.</a>Mega-cap tech stocks <a href="https://markets.businessinsider.com/stocks/aapl-stock?miRedirects=1">Apple</a>, <a href="https://markets.businessinsider.com/stocks/msft-stock?miRedirects=1">Microsoft</a>, <a href="https://markets.businessinsider.com/stocks/amzn-stock?miRedirects=1">Amazon</a>, and <a href="https://markets.businessinsider.com/stocks/googl-stock?miRedirects=1">Alphabet</a> will release their fourth-quarter earnings results throughout the week, and the results could set the tone of the stock market for weeks to come. So far, 25% of <a href="https://markets.businessinsider.com/index/s&amp;p_500">S&amp;P 500</a> companies have reported their fourth-quarter earnings results, with 71% of those companies beating profit estimates by a median of 7% and 68% of those companies beating revenue estimates by a median of 2%, according to data from Fundstrat. On Wednesday, investors will be squarely focused on the Federal Reserve's meeting which will include an interest rate decision from Fed Chairman Jerome Powell. Current market expectations are for the Fed to keep interest rates unchanged. Investors will have to navigate a January jobs report on Friday to cap off the week. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Monday: <ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 4,893.61, up 0.04% </li></ul><ul><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 38,135.34, up 0.06% (+24.65 points)</li></ul><ul><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq Composite</a>: 15,466.77, up 0.07% </li></ul>Here's what else is going on today: <ul><li><a href="https://markets.businessinsider.com/news/stocks/elon-musk-tesla-stock-mania-net-worth-wealth-jeff-bezos-2024-1">Elon Musk's net worth has declined by $30 billion so far this year</a> to just under $200 billion amid a 26% decline in Tesla stock. </li><li><a href="https://www.businessinsider.com/evergrande-ordered-liquidate-china-real-estate-property-crisis-winners-assets-2024-1">The collapse of China Evergrande, the massively indebted Chinese real estate company,</a> has begun with a Hong Kong court ordering the firm to liquidate. </li><li><a href="https://www.businessinsider.com/consumer-confidence-economy-stock-market-gas-prices-eggs-vibes-recession-2024-1">Consumer sentiment towards the US economy has taken a big swing upwards,</a> all thanks to falling gas prices and a booming stock market. </li></ul>In commodities, bonds, and crypto: <ul><li><a href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude oil fell 0.81% to $77.38 a barrel. <a href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, dropped 0.74% to $82.93 a barrel. </li><li><a href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> climbed 0.90% to $2,035.40 per ounce. </li><li>The 10-year Treasury yield dropped seven basis points to 4.11%.</li><li><a href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> declined by 0.15% to $41,966. </li></ul>

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