After the bell: Good month for Dow; COVID closes Disney park
INDIANAPOLIS (WISH) — It’s been quite a month for the Dow.
The Dow finished October up 14%, the best monthly gain since January 1976. It’s a deceiving stat, though. Inflation is high and several companies are down more than 25% this year including: Intel, Nike, Verizon, and Disney.
Investors still seem to be rightly concerned about a recession in 2023.
The fed is raising rates
The Federal Reserve will raise rates again Wednesday, and almost everyone anticipates another 0.75 percentage point hike that would push the central bank’s benchmark rate to around 4%.
The plan, at least for now, calls for a lower “half-point” hike in December.
Shanghai Disney shuts down
Shanghai’s Disney Resort shut down abruptly Monday to comply with COVID-19 prevention measures.
Ten people in the park tested positive, and all visitors have to stay in the park until they test negative.
It’s not the first time COVID has closed the park.
Paying for a blue checkmark?
The newly-purchased “Elon Musk” Twitter might soon charge for that coveted blue checkmark next to your name.
If you’ve got one, the company is considering making “verified users” pay $20 to keep the checkmark. No decision has been made just yet, but many have wondered how the new Twitter will monetize moving forward.
Flights home for holidays
It may be time to book that flight for the holidays.
Airlines are reporting demand is strong this year, which means you’ll pay a higher price the longer you wait.
After two years of delaying travel, people are ready to get out and see the world again. Experts say the key is being flexible on travel dates.
Fliers also may want to consider travel insurance, since the airlines have had a rough year, canceling flights or having trouble staying on time.