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Elon Musk recently discussed "magic money computers" during a podcast with Sen. Ted Cruz, highlighting concerns over government financial practices and accounting. He criticized the lack of oversight, suggesting that the government can create money without proper checks, akin to a failure in double-entry accounting. Experts noted that while the government can print money, this can lead to inflation, raising questions about fiscal responsibility and the implications of such monetary policies.
[Bloomberg](https://www.bloomberg.com) and [SEC]
U.S. stock futures remained relatively unchanged after a positive start to the holiday trading week, with S&P 500 futures up about 0.1% and Nasdaq 100 futures flat. Despite a strong performance on Monday, bolstered by tech stocks, weak economic data, including a drop in consumer confidence and durable goods orders, raised concerns about market momentum. Investors are cautiously optimistic about a potential Santa Claus rally, although some analysts predict a stall in market activity as the year ends.
U.S. stocks rallied on Friday following a cooler-than-expected inflation report, easing concerns over interest rate cuts. The PCE index showed a 2.4% annual rise in November, slightly below estimates, prompting traders to adjust expectations for Fed rate cuts in 2025. Despite the rally, major indexes were on track for weekly declines, with all S&P sectors advancing, led by real estate.
U.S. markets showed mixed results, with the S&P 500 and Nasdaq reaching new highs, while the Dow dipped. Investor sentiment remains high, with over half expecting stock prices to rise, although analysts caution that optimism may be based on fragile foundations. Concerns about high valuations persist, yet some believe the bull market is fundamentally driven.
Nasdaq 100 futures rose 0.3% as investors analyzed tech earnings ahead of key jobs data. Amazon and Intel saw significant gains after exceeding earnings expectations, while the Dow dropped over 300 points due to declines in major tech stocks. Economists anticipate a modest increase in nonfarm payrolls for October, with the unemployment rate expected to remain at 4.1%.
Jay Hatfield
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
elon musk discusses magic money computers and government financial practices
16:05 19.03.2025
us stock futures steady ahead of key inflation report and earnings season
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