Savita Subramanian discusses new economic data’s impact on the Federal Reserve and what that means for investors on ‘The Claman Countdown.’
— Stocks and bitcoin climb to new records
— The jobs report was mixed, but will it move the Fed’s rate-cutting hand?
— President Biden touted lower inflation in his State of the Union, but everyday Americans are not really seeing it
— Apple wrapped up a bruising week. How bad is it?
— Former Treasury Secretary Steven Mnuchin is back in the banking business
— Costco gives clues on when its membership fees will cost more
— JetBlue-Spirit Airlines merger hits the skids
NEW RECORDS: The S&P 500 and Nasdaq Composite hit fresh records this week before pulling back, closing lower on Friday and for the week. Ditto for the Dow Jones Industrial Average. In crypto action, bitcoin soared to the $70,000 level Friday as more retail investors piled in. The crypto is now up over 59% this year alone…continue reading here.
VIDEO: Major crypto bull sees bitcoin hitting $100,000.
LIVE PRICES FOR CRYPTOCURRENCIES: HERE
MIXED JOBS REPORT: The U.S. economy added more jobs than expected in February, however the unemployment rate ticked higher. And in another surprise, January’s robust read of 353,000 additions was revised…continue reading here. It’s unclear how the mixed data will be viewed by the Federal Reserve. Just this week, Chairman Jerome Powell reiterated that bringing inflation down needs to happen before anything else…continue reading here.
VIDEO: Is the latest jobs report enough for policymakers to firm up when to begin cutting interest rates?
INFLATION BITES: President Biden touted falling inflation in his State of the Union address. While the headline number is coming down, Americans dining out are still seeing sticker shock…continue reading here.
VIDEO: Americans dish on sky-high prices.
INFLATION – HOW IT STARTED, HOW IT’S GOING
One X user said a burger meal at Five Guys would have cost $15 in 2014. (Getty Images / Getty Images)
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BRUISED: Apple shares fell 5% for the week, the worst five-day performance since early January. A major fine from the European Union dropped first…continue reading here. Then dismal sales coming out of China hit the tape…continue reading here.
VIDEO: Is Apple’s decline worrisome or a buying opportunity?
EMBATTLED REGIONAL BANK: 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 too fail?
CLUES: Costco gave an update on its membership fees and when they may be hiked higher…continue reading here.
GROUNDED!: Spirit Airlines and JetBlue scrapped their $3.8 billion merger after regulators promised to squash the combo…continue reading here. The Biden administration is also mulling killing Kroger’s $24.6 billion acquisition of Albertson’s…continue reading here.
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