Wall Street Breakfast SEC rings the bell on 24X trading
Nov 29, 2024
A groundbreaking decision by the SEC now allows nearly 24-hour trading on a national exchange. Meanwhile, Australia takes a bold step by passing a social media ban for kids under 16. As Black Friday and Cyber Monday approach, consumer stocks are in the spotlight, showing promising growth potential. The discussion covers the top U.S. consumer discretionary stocks and their anticipated impact on the market, connecting financial trends with the holiday shopping surge.
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24/7 Trading
- The SEC approved the 24X National Exchange, allowing 23-hour daily trading.
- This exchange, backed by Steve Cohen, will launch in 2025 and operate five days a week.
Australia's Social Media Ban
- Australia passed a law banning children under 16 from social media.
- Platforms must prevent underage access or face fines, with age verification systems under development.
Consumer Stocks in Focus
- Wall Street focuses on consumer discretionary stocks due to Black Friday and Cyber Monday.
- Seeking Alpha highlights top stocks based on quant metrics, including Warby Parker, Victoria's Secret, and Dick's Sporting Goods.