Plus: Popeyes' wings, and Elon's year of "cruelty."
| | December 27, 2023 • 5 min read | | | | | | | | | Hello! Christmas may be over, but it’s never too early to start planning for next year’s holiday, right? In 2024 you might try thrifting your gifts — and save hundreds of dollars as a result. In today’s big story, we’re looking back at some of our best articles covering markets, finance, and the economy this year. But first, how are the markets doing? | | | |
Michael Nagle/Xinhua via Getty Images | The big story The year in markets Unexpected. That’s the best way to describe the markets in 2023. The full brunt of the Fed’s tight monetary policy was felt early on with the failure of multiple banks in the US. Things weren’t much better abroad, where two domestic rivals were forced into an unhappy union. US stocks enjoyed a brief rally in the late spring and early summer. But August and the fall proved difficult, and a historic rout in the Treasury market didn’t help. And yet, for all the chaos, there’s still plenty to be excited about as the year winds down. Stocks have rallied to fresh highs, trouble in the Treasury market has subsided, and the Fed is finally ready to cut rates next year. I asked Business Insider Executive Editor Joe Ciolli, who oversees our markets, investing, economy, and finance teams, to pick five stories from the past year. Here they are, along with some insight from Joe about what made them stand out. | | | | | | | | | | |
Markets 🔔 Before the opening bell: US stock futures are little-changed early Wednesday after the last trading week of 2023 kicked off with gains. | | | Liu Jie/Xinhua via Getty Images | 1. The nine things that will define the economy in 2024. Economists are expecting a “boring” year, marked by slowing inflation and falling interest rates. Plus, the job market could continue to slow — but not too much. 2. A contrarian research chief is still bullish about US stocks. Mark Hackett, the chief of investment research for Nationwide, who called this year’s market rally, sees a recession coming. He shared the six investments to diversify into now. 3. Investors should have a good 2024. According to Fundstrat, a bunch of market signals are flashing green in stocks right now — a “far cry” from this time last year. | | | |
| | | | | | 1. Inside Elon Musk’s year of “hate” and “cruelty” at Twitter — and how it morphed into X. His hatred of Twitter became “obvious” as it morphed into X, current and former employees said. Now, even chaos has become routine. 2. Investors share the AI trends to watch for in 2024. VCs predict that next year is going to continue to be a major investing year for AI startups. They’re watching AI trends like a rise in generated content and more widespread fraud. 3. 2023 was a year of extreme haves and have-nots for startups. Venture investment has always been unequal, with some startups raising gobs of money and others left in the cold. But 2023 was unusual — with more extremes than investors have seen before. | | | |
| | | | Yellow Dog Productions/Getty Images | 1. Wealthy Americans say it’s getting harder for them to get richer. The housing market is contributing to many wealthy Americans feeling gloomy about their futures. Many people are concerned their investments will lose value due to inflation and the climate crisis. 2. Tips for success in real estate. Young industry leaders shared their best career advice for those who are just starting out. Their 13 career tips include leaning into your specialty, nurturing your relationships, and to be useful — not used. 3. China is in damage-control mode after an $80 billion meltdown. A video-games regulator shared draft rules that spooked investors. They’d limit how much money gamers could spend and restricted rewards that encourage them to spend more time online. The announcement prompted a massive sell-off in gaming stocks. | | | |
| | | | - Sam Altman’s $480,000 watch, the Greubel Forsey Invention Piece 1, is so rare only 33 were ever made.
- Cities to watch in 2024: People move to Provo, Utah, for mountain fun and a neighborly atmosphere.
- My work wife and I had an emotional affair. Our friendship was so close and flirty that it upset our romantic partners.
- Returns are a $816 billion headache for retailers. And now they’re a costly pain for shoppers, too.
- Rich people are more likely to steal from self-checkout. Why?
- Clarence Thomas’ former clerks have brought him a taxidermy lobster and batteries for his RV to express their loyalty over the years, report says.
- Grimes’ year from hell.
- A Russian officer surrendered and sold out his comrades, helping Ukraine’s special forces cross a key river.
- Luxury gifts the world's richest want under the tree: Birkins, a Tuscan estate, and tickets to space.
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| | | | - Happy National Visit the Zoo Day. It’s different from National Zoo Lovers Day, which is celebrated in April.
- It’s Constitution Day in North Korea. The public holiday commemorates the day the country adopted its current constitution.
- Happy birthday, Timothée Chalamet. Hayley Williams, Salman Khan, and Savannah Guthrie were also born on this day.
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Popeyes For your bookmarks Popeyes' new wings Popeyes’ new wing flavors could spark another fast-food chicken war. The five distinctly innovative flavors, including ghost pepper and signature hot, are packed with heat. | | | |
The Insider Today team Dan DeFrancesco, senior editor and anchor, in New York City. Diamond Naga Siu, senior reporter, in San Diego. Hallam Bullock, editor, in London. Jordan Parker Erb, editor, in New York. Hayley Hudson, director, in Edinburgh. Lisa Ryan, executive editor, in New York. Get in touch insidertoday@insider.com To read unlimited articles, subscribe to Business Insider. | | | | | | | | | | | | | | | | | |
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