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The S&P Global Water Index is gaining market attention. Is another crypto crash imminent? FTC orders Credit Karma to pay users $3M, Zelenskiy “rings” bell at NYSE, Teamsters division for Amazon employees, and more financial news.
Markets are beginning to pay attention to the fact that water is becoming a vital commodity. CNN Business reported: “The S&P Global Water Index, which tracks 50 companies from around the world that are involved in water utilities, infrastructure, equipment and materials, has outperformed the S&P Global Broad Market Index by more than 3 percentage points per year since its beginning in late 2001.”
In 2022, the return on the Global Water Index has been almost 5 percentage points higher than the S&P Global BMI.
As investors in the crypto market are keenly watching what happens with the world’s No. 2 cryptocurrency and the so-called Ethereum Merge, analysts say the digital coin market as a whole is beginning to resemble what occurred in June with a major liquidation, The Street reported. Bitcoin is trading below its symbolic threshold of $19,000, down 6% in the past twenty-four hours. As of this writing, the coin was approaching $17,600. Since Bitcoin’s all-time high last November 10 of $69,044.17, it has lost 73% of its value.
Investors are closely watching the European Central Bank (ECB), which is expected to raise its interest rates on September 8, and analysts fear Europe is nearing a recession.
The Federal Trade Commission (FTC) has ordered Credit Karma to pay its users $3 million, alleging the company pushed false preapproved credit cards on consumers and, as a result, harmed their credit scores, NPR reported.
Ukrainian President Volodymyr Zelenskyy rang the opening bell at the New York Stock Exchange remotely on Tuesday, as his nation is seeking $400 billion in private investments for 500 projects related to rebuilding industries in factories destroyed by Russia. Zelenskyy also met with representatives from GPM and Pfizer to discuss “Advantage Ukraine,” which focuses on Pharma, energy, and military, Reuters reported.
The International Brotherhood of Teamsters, which is one of the largest labor unions in the United States, announced it has launched a new division that is focused on unionizing employees of Amazon, Reuters reported.
