Financial and Economic News: January 31, 2024

Boosting Your Financial IQ

Major stories developing on the global economic front, including:

• Iran-Backed Missiles Make Economic Impact
• Evergrande, Nevermore
• China Races to Rescue Economy
• Naked & A Fraud: South Korea Exposes Short Sellers
• U.S. Real Estate Resurgence?
• Morgan Stanley Bullish on Banks
• Big Tech’s Big Earnings Week
• No Room For Roomba at Amazon
• Reddit Preps for IPO
• Musk’s Neuralink Reaches Major Milestone

FinWeekly has all the details on the latest market and financial news: In this week's episode, we kick things off by unpacking the economic implications of the US response to the drone strike against our troops in Jordan. Shifting to international finance, we explore the collapse of China Evergrande Group, once a symbol of the country’s robust property market. We also cover China's proactive measures to rescue its economy amidst challenges from a property crisis, deflation, and weak consumer confidence. In South Korea, the regulators’ discovery of $41 million in illegal naked short selling by undisclosed global banks underscores a broader crackdown on illicit financial practices. Back in the US, we discuss a potential resurgence in the real estate market with predicted mortgage rate drops, while Morgan Stanley expresses optimism about major US banks. We also break down Big Tech's upcoming earnings week, Amazon's withdrawal from the iRobot acquisition, Reddit's IPO plans, and Neuralink's milestone achievement.

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