News and Trends
Nasdaq drops 1% Friday as Netflix dives, tech-heavy index heads for worst week since 2020- CNBC--1.20.22
The Nasdaq is on pace for its worst week since 2020 as sharp losses in Netflix dragged Nasdaq deeper into correction. Nasdaq's struggle is also due to a surge in government bond rates this week.
‘Good luck! We’ll all need it’: U.S. market approaches end of ‘superbubble,’ says Jeremy Grantham - Market Watch--1.20.22
The U.S. is approaching the end of a "superbubble" spanning across stocks, bonds, real estate and commodities following massive stimulus during the COVID pandemic. Equity bubbles tend to begin to deflate from the riskiest parts of the market first.
Jobless claims jump to 286,000, the highest level since October- CNBC--1.20.22
Initial jobless claims totaled 286,000 for the week ending January 15, well above the 225,000 estimates. This is a potential sign that the wintertime omicron surge was hitting the employment picture.
Rising inflation tightens squeeze on consumers- ABC News--1.20.22
Retail sales took an unexpected dip in December, a signal that persistently rising inflation is prompting a pullback in consumer spending. Consumers paid more for everything from groceries to cars in 2021.
Inflation rises 7% over the past year, highest since 1982- CNBC--1.12.22
The consumer price index rose 7% in December from a year earlier, the fastest pace since June 1982. The moves comes amid a shortage of goods and workers and on the heels of unprecedented cash flowing through the U.S. economy.
Bitcoin is off to its worst annual start since the dawn of crypto- BNN Bloomberg--1.10.22
Bitcoin dipped below $40,000 for the first time since September, putting it on pace for its worst start to the year since the early days of the cryptocurrency. Cryptocurrencies are likely to remain under pressure as the Fed reduces its liquidity injections.
Nearly a quarter of workers plan to quit in 2022, report shows- Protocol--1.6.22
The Great Resignation will likely continue into 2022. About one-quarter of workers are looking to get new jobs this year, according to a new report.
Hiring falters in December as payrolls rise only 199,000, though the unemployment rate fell to 3.9%- CNBC--1.7.22
The U.S. economy added far fewer jobs than expected in December as the nation grapples with a massive surge in Covid cases, according to the Labor Department. The numbers "suggest that worker shortages were becoming a bigger restraint on employment growth."
Venmo, PayPal and Zelle must report $600+ in transactions to IRS- NBC News--1.6.22
As of January 1, mobile payment apps like Venmo, PayPal, Zelle and Cash App are required to report commercial transactions totaling more than $600 per year to the Internal Revenue Service.
Fed Minutes Suggest More Stock-Market Turmoil Could Lie Ahead- Barron's--1.6.22
According to the FOMC meetings, the Fed could begin to let its balance sheet shrink sooner than market participants had anticipated. As a result, the Nasdaq Composite saw its largest percentage loss since Feb. 25.
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