Stock Market Winners & Losers: Dow Completes Comeback from August Rout | Healthcare Premiums Set to Rise | The Economics of Burning Man
The Dow Jones hit a record high on Monday, rebounding from an August sell-off as traders anticipate potential Federal Reserve rate cuts. Key stocks like Caterpillar and American Express drove the gains after Fed Chair Jerome Powell hinted at rate cuts last week.
ATM fees have hit a record average of $4.77 per withdrawal. U.S. healthcare costs are set to rise 9% next year, with employees expected to cover over $5,000 of the $16,000 per person cost, driven partly by rising drug prices like GLP-1s.
Burning Man, which now attracts 70,000 attendees, didn't sell out this year. The event, known for its tech VIP attendees, contributes $60 million to the local economy but struggled financially during the pandemic.
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