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S&P 500   3,693.23
DOW   29,590.41
QQQ   275.51
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Buy Alert For $2 Coin (Ad)pixel
Judge rejects Justice Dept.'s bid to stop sugar merger
Will Wall Street's Enthusiasm About Datadog Lead To Big Gains?
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MarketBeat: Week in Review 9/19 – 9/23
China using civilian ships to enhance navy capability, reach
Cash Holders STILL Aren’t Taking Steps to Prepare (Ad)pixel
German leader seeks energy deals, alliances on Gulf trip
World Bank head says he's not a climate denier, won't quit
S&P 500   3,693.23
DOW   29,590.41
QQQ   275.51
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Buy Alert For $2 Coin (Ad)pixel
Judge rejects Justice Dept.'s bid to stop sugar merger
Will Wall Street's Enthusiasm About Datadog Lead To Big Gains?
Buy Alert For $2 Coin (Ad)pixel
MarketBeat: Week in Review 9/19 – 9/23
China using civilian ships to enhance navy capability, reach
Cash Holders STILL Aren’t Taking Steps to Prepare (Ad)pixel
German leader seeks energy deals, alliances on Gulf trip
World Bank head says he's not a climate denier, won't quit
S&P 500   3,693.23
DOW   29,590.41
QQQ   275.51
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Buy Alert For $2 Coin (Ad)pixel
Judge rejects Justice Dept.'s bid to stop sugar merger
Will Wall Street's Enthusiasm About Datadog Lead To Big Gains?
Buy Alert For $2 Coin (Ad)pixel
MarketBeat: Week in Review 9/19 – 9/23
China using civilian ships to enhance navy capability, reach
Cash Holders STILL Aren’t Taking Steps to Prepare (Ad)pixel
German leader seeks energy deals, alliances on Gulf trip
World Bank head says he's not a climate denier, won't quit

Turkish lira hits record low before central bank meeting


President of Turkey Recep Tayyip Erdogan addresses the 77th session of the United Nations General Assembly, Tuesday, Sept. 20, 2022 at U.N. headquarters. (AP Photo/Mary Altaffer)

ISTANBUL (AP) — Turkey’s currency fell to a record low against the dollar before a central bank meeting on interest rates Thursday, expanding the pain for people who have seen their purchasing power erode during a series of economic shocks in the country.

The lira traded at 18.38 against the dollar, weakening further than the previous record low of 18.36 in December, before recovering to about 18.36.

Turkey has been following President Recep Tayyip Erdogan’s unorthodox belief that high interest rates cause high inflation, cutting borrowing costs despite consumer prices rising by an eye-watering 80.21% in August from a year earlier.

Central banks around the world are moving the opposite way in line with traditional economic thinking, aggressively raising rates to target soaring inflation.

The U.S. Federal Reserve hiked rates by a large three-quarters of a point for the third consecutive time Wednesday, followed Thursday by the Swiss National Bank’s biggest hike ever to its key interest rate. The Bank of England is weighing how aggressively Thursday to act as banks from Europe to Canada move quickly to rein in rising prices.

The Turkish central bank last month lowered its benchmark rate by 1 percentage point, to 13%. Official statistics released this month showed annual inflation was the worst among the Group of 20 major economies, but independent experts say inflation is actually much higher.

Critics also say the independence of the central bank and the official statistical institute have been undermined under Turkey's presidency.

Last year, the currency kept hitting record lows as the central bank lowered interest rates from 19%. When it finally hit 18.36 against the dollar, Erdogan announced extraordinary measures that he claimed would safeguard the lira.

The government encouraged people to swap their dollars for the lira and place them in a deposit account that would give the interest rate plus any lira depreciation against the dollar. Though the lira rebounded after that announcement to a high of 11.09, it steadily declined this year.

7 Sports Betting Stocks to Buy for Their Long-Term Possibilities

Since 2018, one of the most compelling sectors for growth-oriented investors is the sports betting sector. That was the year the U.S. Supreme Court allowed states to legalize sports betting. Since then 30 states have taken that step including New York and New Jersey which are two key markets. In fact, the state of New York broke a record when it legalized online sports betting in January 2022.

This makes it a good time to consider investing in sports betting stocks. Many of these stocks are trading at significant discounts as part of the broad market sell-off. The reason for this is competition. There are a nearly endless number of online sportsbooks competing for consumer dollars.

And it would appear there's enough revenue to go around. According to Data Bridge Market Research, the global sports betting market is expected to grow at a compound annual growth rate of 10.26% between now and 2029.

With that said, sports betting stocks are definitely risk-on assets. And the payoff may be years away.  But if you have time and have a tolerance for risk, here are seven sports betting stocks to consider for solid upside gains.

View the "7 Sports Betting Stocks to Buy for Their Long-Term Possibilities".

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