The Best New Ideas in Money Festival takes place in New York on September 21 and 22, as well as online for guests who live elsewhere.
Bond yields are on the rise while equities are declining, and indicators of the price pressures in the American economy are uncomfortably and stubbornly elevated. As a result, it may feel as though the markets are stuck in a constant state of chaos.
The consumer price index, a frequently monitored indicator of inflation, was up 8.3% from the same month a year ago, according to statistics from August released on Tuesday.
The yearly increase in the core rate of inflation, which excludes certain commodities from the calculation because their prices are thought to be the most volatile, increased from 5.9% to 6.3%, demonstrating how deeply ingrained inflation has become in the economy. That presents a challenge for central bankers, especially given that the Federal Reserve will hold its two-day meeting next Tuesday in an effort to reduce pricing pressures brought on by the pandemic.
Notably, the average consumer is getting a stomach hit as food costs are rising at their quickest rate since roughly 1979.
The blue-chip Dow Jones Industrial Average DJIA, -3.94% fell nearly 1,300 points on Tuesday, while the S&P 500 SPX, -4.32% and the Nasdaq Composite COMP, -5.16% absorbed losses that were even more dramatic on a percentage basis. At the same time, yields for 2-year and 10-year Treasury bonds were surging and prices were trending lower in anticipation of larger increases in benchmark interest rates than previously anticipated.
The U.S. dollar DXY, +1.50% has been strengthening, as indicated by an index measuring the greenback versus a half-dozen major currencies, but bitcoin BTCUSD, -0.70% has been trading noticeably lower, along with other cryptocurrencies and a number of other assets deemed risky.
In light of this, MarketWatch will have its first significant conference the following week. In order to get guidance from experts and gain insights on the greatest new ideas for you and your money, now and in the future, hundreds of investors and market participants will congregate in New York for the Best New Ideas in Money Festival, with thousands more participating virtually.
On September 21 and 22, festival attendees will explore topics ranging from cryptocurrency to marijuana, from hot trades to space exploration, with seminars that seek to provide actionable advice and are led by recognised authorities.
Perspectives on Investing in a Global Context
With real-time news and analysis from MarketWatch, you can better understand how contemporary global business practises, market dynamics, economic policies, and more affect you.
MarketWatch across various platforms
We’ll be having conversations with legendary investors like Ray Dalio, co-founder and CIO of the world’s largest hedge fund, Bridgewater Associates. Carl Icahn, an experienced investor, and Jennifer Grancio, CEO of Engine No. 1, the investment group that challenged Exxon Mobil Corp., will be present to discuss their perspectives on the market and the economy. In a historic proxy fight last year, XOM, -2.34% lost against. Josh Brown and Michael Batnick of Ritholtz Wealth Management will also be discussing the markets, and Nancy Davis, the creator of Quadratic Capital Management, will be demystifying options strategies.
See: The risk of dementia is reduced by half for those who do this one action every day compared to the rest of us.
Best New Ideas in Money started as a special quarterly series of MarketWatch stories focused on innovations in finance and money. It swiftly expanded into a franchise that includes a weekly podcast that examines how money can be a source for good — and, now, this money festival.
We can’t guarantee that attendees will leave richer, but those who take part could discover that they do so with greater knowledge and confidence to manage their own finances.