What we’re reading (3/23)
“Dow, S&P 500, Nasdaq Futures Steady After Relief Rally On Trump’s Hint Of Iran Deescalation” (Yahoo! Finance). “US stock futures were largely flat late Monday, pausing after a sharp rebound on Wall Street that was driven by growing optimism around a potential easing of tensions between Washington and Tehran.”
“Volume In Stock And Oil Futures Surged Minutes Before Trump’s Market-Turning Post” (CNBC). “S&P 500 futures and oil futures flashed an unusual burst of activity early Monday minutes before a market-moving social media post from President Donald Trump. At around 6:50 a.m. in New York, S&P 500 e-Mini futures trading on the CME recorded a sharp and isolated jump in volume, breaking from an otherwise subdued premarket backdrop. With thin liquidity typical of early trading hours, the sudden burst stood out as one of the largest volume moments of the session up to that point.”
“The Dollar’s Strength Has Little To Do With ‘Exorbitant Privilege’” (RealClear Markets). “The U.S. dollar's role as the world's reserve currency is often portrayed as an "exorbitant privilege" granting America endless benefits like cheap borrowing and global clout. Career economists fill books and panels with this narrative, implying dollar dominance is a perpetual free lunch. But common sense reveals a simpler truth: The dollar's power stems 90% from U.S. economic fundamentals—scale, stability, productivity—with reserve perks adding modest, often net-neutral gains that balance out across society.”
“The Revenge Of Flyover Country” (The Atlantic). “[T]hese days, people are no longer flying over the Midwest. In growing numbers, they’re flying to the Midwest, to find a place to live. In the past couple of years, the region has become a popular place to relocate; three of the country’s five fastest-growing metro areas are there. Population growth in the Sun Belt, meanwhile, is slowing. The forces driving these changes go two ways: People are being drawn to more northerly cities for job opportunities and affordable housing, and they are being pushed out of the Sun Belt by the rising cost of living there.”
“America’s Original Steakhouse Is Expanding—After Nearly 200 Years” (Wall Street Journal). “When Delmonico’s first opened around the corner from Wall Street in 1837, it coincided with a financial panic, bank failures and the popping of a real-estate bubble. But the steakhouse survived. And in the coming years, it would serve famous customers such as Abraham Lincoln and Mark Twain. Now, nearly two centuries later, the restaurant that calls itself the first fine-dining spot in the U.S. is poised to open its second outpost in Midtown Manhattan next year.”
