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Today in the Market (12/19/2023)

Good Evening! On Tuesday, U.S. equities concluded the day with gains, maintaining a nine-day consecutive victory for the Nasdaq and Dow Jones. Let’s see how well each market did! The S&P 500 rose by 0.59%, while the Dow Jones increased by 0.68%. The NASDAQ continued the momentum and finished the day up 0.66%.

COMING TO A STORE NEAR YOU!

Affirm (AFRM) has announced its expansion of services with Walmart, enabling the integration of Affirm’s transparent and flexible pay-over-time alternatives into self-checkout kiosks at over 4,500 Walmart locations throughout the U.S.

But is this feature needed? According to Pat Suh, senior vice president of revenue at Affirm, recent research by the company revealed that 54% of Americans expressed a desire for retailers to offer the Buy Now, Pay Later option during the checkout process. She said that offering this service at Walmart “will help even more consumers increase their purchasing power during the holiday shopping season and beyond.”

Of course, customers will only pay for what they agree to! As is always consistent with Affirm, consumers are presented with the whole expense of their transaction and will never incur additional charges beyond what they have initially agreed to (Affirm does not impose any late or concealed costs).

 

IS IT POSSIBLE OR TOO AMBITIOUS?

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Canada has officially issued laws that require all passenger cars, SUVs, crossovers, and light trucks to be zero-emission vehicles (ZEVs) by 2035. This is a crucial step in the government’s comprehensive strategy to address climate change.

So how will Canada achieve this? By 2026, a minimum of 20% of all automobiles sold must be ZEVs, and by 2030, this percentage must increase to at least 60%. According to industry experts, electric cars (EVs) accounted for 12.1% of new vehicle sales in the third quarter of 2023. This isn’t new, though; the regulations mirror those implemented by California, which stipulate that all new vehicles sold in 2035 must be either plug-in hybrid electric vehicles (PHEVs), electric vehicles (EVs), or fueled by hydrogen fuel cells

However, the industry isn’t happy about this! The Canadian car industry asserts that the standards are too ambitious, highlighting the elevated expenses associated with electric automobiles. Additionally, it expresses dissatisfaction with the insufficient charging infrastructure, particularly in rural regions. That is because Canada is the second-largest nation globally, with a population of around 40 million people.

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