Savita Subramanian discusses the impact of new economic data on the Federal Reserve and what it means for investors on “The Craman Countdown.”
— Stocks and Bitcoin rise to new records
–The employment report was mixed, but will that prompt the Fed to cut interest rates?
— President Biden touted falling inflation in his State of the Union address, but ordinary Americans aren’t really seeing it.
— Apple is coming off a shocking week. How bad?
— Former Treasury Secretary Steven Mnuchin returns to banking
— Costco offers hints on when membership fees will increase
— JetBlue and Spirit Airlines merger debacle
New record: The S&P 500 and Nasdaq Composite set new records this week before falling back, with lower closing prices on Friday and this week. The same goes for the Dow Jones Industrial Average. In crypto trading, Bitcoin soared to the $70,000 level on Friday as more retail investors flocked to the market. The cryptocurrency is currently up over 59% this year alone…Continue reading here.
video: Major crypto bulls expect Bitcoin to reach $100,000.
Live prices of cryptocurrencies: here
Mixed job report: The U.S. economy added more jobs than expected in February, but the unemployment rate rose. And in another surprise, her solid January results of 353,000 additions have been revised…Continue reading here. It’s unclear how the Fed will view the mixed data. Just this week, Chairman Jerome Powell reiterated the need to bring inflation down first and foremost…Continue reading here.
video: Will the latest jobs data be enough for policymakers to decide when to start cutting interest rates?
Inflation bite: President Biden emphasized lowering inflation in his State of the Union address.Headline numbers are down, but Americans still experience sticker shock when eating out…Continue reading here.
video: Americans cook at very high prices.
Inflation – how it started and how it’s progressing
One X user said the cost of a burger meal at Five Guys was $15 in 2014. (Getty Images/Getty Images)
FOLLOW FOX BUSINESS DEBT TRACKER: HERE
Bruises: Apple shares fell 5% for the week, its worst five-day performance since early January. Hefty fines from the European Union have been reduced for the first time…Continue reading here. Then the disastrous sales from China went down on record…Continue reading here.
video: Is Apple’s decline a cause for concern or a buying opportunity?
Local banks in trouble: New York Community Bank (NYCB) got a lifeline from investors, including a group backed by former Treasury Secretary Steven Mnuchin…Continue reading here.
video: Is NYCB too big to fail?
clue: Costco has announced an update on membership fees and when they will increase.Continue reading here.
Grounded!: Spirit Airlines and JetBlue called off their $3.8 billion merger after regulators promised to unwind the merger.Continue reading here. The Biden administration is also considering canceling Kroger’s $24.6 billion acquisition of Albertsons…Continue reading here.
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