Writing, money, and ledgers, are the three basic building blocks that allowed humanity to progress past the days of foraging for berries and hunting wild game to the advanced global civilization we are today.
Writing allowed us to convey knowledge and information that made it possible to cooperate and build on the findings of others.
Money allowed for the efficient allocation of scarce resources and the facilitation of trade.
Ledgers allowed all these activities and transactions to be recorded so we could trust one another beyond immediate friend groups.
Being able to trust one another is perhaps one of the most important facilitators of economic and social activity. When you perform a transaction you trust that the service you’re getting is what you paid for. When you put your money in a bank, you trust that the bank is a reputable third party to store assets. When you use the internet you trust that your data is secure and won’t be given away to bad actors.
Provided by Dow Jones
By Anna Hirtenstein and Paul Vigna U.S. stocks rose Thursday as investors cheered encouraging data on the economy, a strong batch of corporate earnings and the prospect of as much as $1.8 trillion in new government spending. The Dow Jones Industrial Average added 0.4%, the S&P 500 gained 0.6% and the Nasdaq Composite rose 0.4%. If those gains hold to the closing bell, they would put the S&P 500 at a fresh record. The morning provided investors with fresh signs of the economy s recovery. The U.S. economy grew at a 6.4% rate in the first quarter, approaching its pre-pandemic size, and weekly jobless claims fell to their lowest level since the pandemic began last year.
Provided by Dow Jones
By Anna Hirtenstein and Paul Vigna U.S. stocks jumped in afternoon trading Thursday as investors cheered encouraging data on the economy, a strong batch of corporate earnings and the prospect of as much as $1.8 trillion in new government spending. The Dow Jones Industrial Average gained 0.7%, and the S&P 500 added 0.6%. The Nasdaq Composite climbed 0.2%. Those gains would put the S&P 500 at a fresh record. Stocks rose early, but then fell into the red as bond yields jumped, repeating the recent pattern of intraday swings. Such volatility isn t unusual given the market s current state, said Katerina Simonetti, senior vice president at Morgan Stanley Private Wealth Management.
Provided by Dow Jones
By Anna Hirtenstein and Paul Vigna U.S. stocks pared their early gains Thursday as bond yields inched higher, weighing on technology and other growth stocks. The Dow Jones Industrial Average and the S&P 500 added 0.1%, while the Nasdaq Composite fell 0.4%. At the morning s highs, the S&P 500 and Nasdaq were at fresh records as investors cheered encouraging data on the economy, a strong batch of corporate earnings and the prospect of as much as $1.8 trillion in new government spending. Investors appeared to be bothered by a jump in the yield on the U.S. 10-year Treasury note, said Art Cashin, managing director of UBS Financial Services, in a note to investors. The yield on the 10-year rose as high as 1.688%, its highest intraday level in more than two weeks, from 1.621% on Wednesday. It was most recently at 1.653%. Prices fall when yields rise.
Provided by Dow Jones
By Anna Hirtenstein and Paul Vigna U.S. stocks rose Thursday, pushing the S&P 500 to a record, as investors cheered encouraging data on the economy, a strong batch of corporate earnings and the prospect of as much as $1.8 trillion in new government spending. The S&P 500 rose 28.29 points, or 0.7%, to 4211.47, eclipsing the record it set Monday. The Dow Jones Industrial Average rose 239.98 points, or 0.7%, to 34060.36, and the Nasdaq Composite added 31.52 points, or 0.2%, to 14082.55. Thursday provided investors with fresh signs of the economy s recovery. The U.S. economy grew at a 6.4% rate in the first quarter, approaching its pre-pandemic size, and weekly jobless claims fell to their lowest level since the pandemic began last year.