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Market News
Reddit IPO countdown
Reddit plans to launch IPO in March, Red Sea attacks already bigger supply chain issue than pandemic, jobless claims plunge to lowest level since Sept ‘22, Lenovo betting its Motorola brand will be 3rd largest globally, and Macy’s to cut 3.5% of workforce and 5 stores…
Blinken stranded... literally
Blinken stranded after Boeing 737 breaks down, Spirit Airlines shares sink 20% in second day of losses after blocked merger, EV owners unable to charge in freezing weather, Apple sales ban restarts today, and Samsung packs newest Galaxy smartphones with AI to beat Apple…
Trump-linked stocks jump
Trump-linked stocks jump after emphatic win in Iowa, China misses Q4 GDP estimates with growth set to slow in 2024, JetBlue’s $3.8B Spirit deal is turning into a nightmare, Boeing CEO to visit main 737 supplier as crisis grows, and AMD shares jump to highest close since 2021…
Citigroup's radical overhaul
Citi to lay off 20,000 employees in overhaul, IMF warns AI to hit almost 40% of jobs worldwide, US economy set for another cash boost if Congress backs tax deal, Microsoft expands AI Copilot to consumers, and Hertz selling 20,000 EV’s switching back to gas-powered cars…
SEC X-files
Global economy set for its worst half decade of growth in 30 years, SEC X account compromised falsely saying Bitcoin ETFs approved, Boeing’s CEO admits ‘our mistake’ after incidents, Morgan Stanley displaces Citigroup as least-loved bank stock, and BlackRock cuts 3% of workforce — just one of many companies…
Bezos bets on Google challenger
Today’s jobs report will be a big signal for a market looking for good news, US awards chip supplier $162 Million to bolster critical industries, Jeff Bezos bets on Google challenger Perplexity to upsend search, Peleton partners with TikTok offering short-form fitness, and Google just disabled cookies for 30 Million Chrome users…Fed sees rates staying high for some time- minutes show, TikTok eyes $17.5B shopping business on Amazon’s turf, Xerox cuts 15% of workforce, bankruptcies surged 18% in 2023, and Starbucks now accepts personal cups in drive-thru, mobile orders…