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☆ Investors are fearful. They shouldn’t be
▼ + stars: | 2024-04-22 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

The economy has been extraordinarily resilient for the past few years — consistently proving the naysayers wrong, he says. For all of the market gloom last week, stocks are still near all-time highs, and this earnings season has been strong. Investors have been worrying about the Federal Reserve keeping rates higher for longer. I speak with many institutional investors, and I don’t see them folding in fear. Residual lubricant reduced the retention of the pad to the pedal,” the NHTSA wrote in the recall document.

Persons: ”, Philipp Carlsson, there’s, Carlsson, Szlezak, they’re, I’m, it’s, I’ve, we’re, TikTok, Brian Fung, Joe Biden, Tesla, Chris Isidore, Peter Valdes Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Boston Consulting, ByteDance, NHTSA Locations: New York, Europe, Ukraine, Israel, Washington

☆ What stalled this year’s seemingly infallible stock market rally
▼ + stars: | 2024-04-19 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

Investors had hoped that corporate earnings would help revive the stalled rally, but a strong start to the season hasn’t been enough to excite investors. The 30-year fixed-rate mortgage averaged 7.10% in the week ending April 18, up from 6.88% the previous week, according to Freddie Mac data released Thursday. Mortgage rates are climbing based on expectations that the Federal Reserve won’t cut interest rates anytime soon. The Fed doesn’t directly set mortgage rates, but its actions do influence them, and persistently hot inflation readings are keeping the Fed on hold. If inflation stalls any further, or even worsens, mortgage rates could climb higher this year.

Persons: —, hasn’t, Jerome Powell, “, ”, Michael Landsberg, Pierre, Olivier Gourinchas, Israel, Brent, Bryan Mena, Freddie Mac, Sam Khater, Freddie Mac’s, Read, Anna Cooban, Tim Cook, Pham Minh Chinh, Cook, Apple “ Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Federal Reserve, Data, Employers, Fed, Landsberg Bennett, Wealth Management, Monetary Fund, Treasury, Investors, CNN, Federal, China Apple, Vietnamese, Apple Locations: New York, East, Iran, Israel, Syria, Vietnam, China, Hanoi, Beijing

☆ Bitcoin halving: Crypto traders await quadrennial event
▼ + stars: | 2024-04-18 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

Put simply, the halving is an automatic 50% reduction in the number of bitcoin entering circulation. “Guessing the endgame for Bitcoin after each halving is the ultimate sport,” said Antoni Trenchev, co-founder of crypto lender Nexo, in a statement. Miners are essentially auditors on the bitcoin blockchain, using powerful supercomputers to validate transactions and getting paid for their work in bitcoin. While long-term sentiments on bitcoin are bullish among the crypto faithful, the psychology around an event like the halving is hard to predict and can create volatility that’s extreme even by crypto standards. “It wouldn’t be surprising to see the price of bitcoin increase significantly over the next two years.”

Persons: CNN Business ’, it’s, ”, Antoni Trenchev, Gareth Rhodes, Molly White, John Sedunov, Jamie Dimon, JPMorgan Chase, Greg Beard, there’s, ” Beard Organizations: CNN Business, New York CNN, United, Miners, Villanova University, JPMorgan, Mining Locations: New York, United States, Asia, bitcoin

☆ US regional banks are still under pressure. That’s likely to continue
▼ + stars: | 2024-04-18 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Despite overcoming a crisis in 2023, the pain isn’t over for America’s regional banks. Shares of New York Community Bank have tumbled 71%, Bank OZK shares have slid 16% and Webster Financial shares have lost 11%. Regional banks reported wide losses on their profits during the first quarter. PNC projects that its net interest income will fall between 4% to 5% in 2024 from last year. “I’m worried about a handful of [regional banks],” Bair told CNBC on Tuesday.

Persons: that’s, Jerome Powell, “, ” Powell, Sheila Bair, “ I’m, ” Bair, ” Tesla, Tesla, Elon Musk, Chris Isidore, Musk, Chancellor Kathaleen McCormick, Read, Samantha Delouya, —, Maximilian Kotz, Leonie Wenz, Noah Diffenbaugh Organizations: CNN Business, Bell, New York CNN, Regional Banking, New York Community Bank, Bank OZK, Webster Financial, PNC Financial, T Bank, US Bancorp, Citizens, PNC, Valley Bank, Signature Bank, First Republic Bank, Federal Reserve, Wilson Center, Federal Deposit Insurance Corporation, CNBC, Tesla, Securities and Exchange Commission, United Nations, Potsdam, Climate, CNN, Stanford University Locations: New York, Delaware, ” Delaware

☆ Private equity finds its next bet: college admissions
▼ + stars: | 2024-04-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Now, private equity firms are swooping in to help while taking majority stakes in exchange. Last week, the company announced that it would partner with California-based private equity firm Nexus Capital Management and move its test into a for-profit company. A company owned by private equity can obfuscate what the company actually does to the public and potentially to regulators. Private equity firms “come into industries that are already suffering from a lack of funding,” said Creeks. They’ve had a lack of funding and support and so sometimes private equity is the only viable option.

Persons: New York CNN — It’s, Janet Godwin, “, ” Goodwin, ”, we’ve, Charlie Eaton, Goodwin, Critics, Constantine Yannelis, Rebecca Winthrop, They’ve, ” Powell, Jerome Powell, Powell, Bryan Mena, Chris Isidore, United, Max Organizations: CNN Business, Bell, New York CNN, ACT Inc, U.S ., ACT, Nexus Capital Management, ”, CNN, Nexus, Higher, University of California, ” Nonprofit, Nexus Capital, Savvas Learning Company, Private Equity, Project, University of Chicago Booth School of Business, Center for Universal Education, Brookings Institution, P Global Market Intelligence, College Board, Veritas Capital, “, Bank of Canada, Wilson, Fed, United, United Airlines, Boeing, Alaska Airlines, Federal Aviation Administration Locations: New York, Iowa, California, Merced, Canada

☆ Why Corporate America is keeping quiet on abortion
▼ + stars: | 2024-04-16 | by ( Allison Morrow | ) edition.cnn.com time to read: +8 min

New York CNN —Eight years ago, when North Carolina tried regulate how transgender people use public bathrooms, Corporate America revolted. Nearly two dozen states have either banned or severely curtailed abortion rights since Roe v. Wade was overturned two years ago. Lamberton: What we’ve seen is the natural life cycle of an idea. But in the last few years, we’ve seen that position softening. Economically, we’ve seen a great deal of volatility just in the last half decade.

Persons: CNN Business ’, Roe, Wade, we’ve, Bud, Cait Lamberton, ” Lamberton, ”, Lamberton, We’ve, Bud Light, Busch, isn’t, it’s, they’re, John Wanamaker Organizations: CNN Business, New York CNN —, America, PayPal, Associated Press, —, American Civil Liberties Union, University of Pennsylvania’s Wharton School of Business, Consumers, Anheuser, Bud, Brands, Coca Cola, Companies, Technology Locations: New York, North Carolina, Ukraine, Georgia, Philadelphia

☆ Geopolitical strife is roiling Wall Street. Here’s what investors are watching
▼ + stars: | 2024-04-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Those what-ifs could further roil gas and oil prices. But if there’s further conflict, he said, “you’d see a much higher premium for oil prices. If there’s a de-escalation of tensions between Israel and Iran, they said, oil prices should come down over the next few weeks. But if there’s an escalation in conflict, they expect that oil prices could jump to more than $100 per barrel, they wrote in a note Monday. Retail sales rose 0.7% in March from the prior month, a slower pace than February’s upwardly revised 0.9% gain, the Commerce Department reported Monday.

Persons: New York CNN —, JPMorgan Chase, Jamie Dimon, ” Dimon, Jerome Powell, We’ll, Christine Lagarde, Andrew Bailey, Dave Sekera, Israel doesn’t, ”, “, Moody’s, there’s, Chris Isidore, Pete Muntean, Sam Salehpour, Read, Bryan Mena, Claire Tassin Organizations: CNN Business, Bell, New York CNN, Dow, JPMorgan, International Monetary Fund, IMF, Bank, Bank of Canada, Seven, European Central Bank, Bank of England, Morningstar, Nvidia, AMD, Wall Street Journal, Federal Reserve Bank of New, Boeing, Federal Aviation Administration, Alaska Airlines, Commerce Department, Morning, Amazon Locations: New York, Russia, Ukraine, China, United States, Washington ,, Iran, Israel, Federal Reserve Bank of New York

☆ Energy stocks are hot again. The rally could have more fuel to burn
▼ + stars: | 2024-04-12 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

These robust gains come after a lackluster year for energy stocks. The energy sector fell roughly 5% in 2023, underperforming the broader S&P 500’s double-digit gains as concerns about the global economy hurt energy demand. Some investors say that energy stocks are poised for more gains, given the continued geopolitical turmoil and the US economy’s resilience. Energy stocks often do well when the economy is strong, since there’s more energy demand to fuel goods- and services production. Plug Power shares have slipped 34% this year, SolarEdge Technologies shares have tumbled 25% and Enphase Energy shares have slid 8%.

Persons: Nancy Curtin, “, ”, Bob Doll, he’s, Donald Trump, Trump, Matt Egan, ” Alex Durante, Read, Alicia Wallace, Price Organizations: CNN Business, Bell, New York CNN — Energy, Marathon Petroleum, Exxon Mobil, Occidental Petroleum, Halliburton, West Texas, Brent, Federal Reserve, Energy, RBC Capital Markets, Crossmark Global Investments, Organization of, Petroleum, Clean Energy, SolarEdge Technologies, Enphase Energy, Tax Foundation, CNN, Trump, of Labor Statistics, PPI Locations: New York, Ukraine, OPEC, China, Mexico

☆ Boeing CEO’s penchant for cost-cutting doesn’t apply to his trips on the company jet
▼ + stars: | 2024-04-12 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

New York CNN —When it comes to building planes, Boeing CEO Dave Calhoun is all about streamlining costs. That oopsie was discovered in an internal review, which was prompted by a Wall Street Journal investigation last year into Boeing executives’ private jet travel, the paper reported Thursday. To be clear: Boeing requires Calhoun, who is stepping down later this year, to use its private jets for business and personal travel for security reasons. But when a CEO uses the company jet for a family vacation, that usually counts as taxable income. Over the last three years, Calhoun racked up $979,000 in personal air travel, according to the company.

Persons: CNN Business ’, Dave Calhoun, Calhoun, thriftiness, Chris Isidore, oopsie, that’s, we’ve, It’s, lavishing Calhoun, teeing, Jon Holden Organizations: CNN Business, New York CNN, Boeing, Wall Street, IRS Locations: New York, Arlington , Virginia, Seattle, America

☆ Bad news for Biden (and all Americans): Inflation is creeping higher at the worst time
▼ + stars: | 2024-04-11 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

But, if you’re President Joe Biden, now is a particularly bad time for inflation to reaccelerate. On the other hand, bad economic data, especially regarding inflation, almost certainly guarantees people aren’t going to be feeling better about the economy. Significant progress over the past two years in getting inflation down from multi-decade highs has been of little help to struggling Americans. “We have more to do to lower costs for hardworking families,” he said. The shelter index, a broader component of the inflation report that covers a majority of housing expenses, is up 5.7% year-over-year.

Persons: CNN Business ’, New York CNN — There’s, Joe Biden, Biden, hasn’t, Ron Klain, ”, Ian Maule, he’s, CNN Biden, “ Organizations: CNN Business, New York CNN, Labor, Politico, Biden, Center, CNN, Republican Locations: New York, Las Vegas , Nevada

☆ Wall Street wants answers from big banks about the economy
▼ + stars: | 2024-04-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

New York CNN —Big banks kick off earnings season Friday. “Earnings season just became significantly more important,” said JJ Kinahan, chief executive of IG North America, in a Wednesday note. On one hand, lofty rates could help pad banks’ net interest income, since they can charge a higher borrowing rate for loans and mortgages. Inflation has been a bane on Biden’s presidency, with voters consistently giving him low marks for his handling of the economy. Fed Chair Jerome Powell has said that policymakers want to see more evidence that inflation is headed toward their 2% goal.

Persons: ”, JJ Kinahan, JPMorgan, Wells, You’ll, Carol Schleif, Wall, Jamie Dimon, “, Alicia Wallace, Friday’s, Joe Biden, ” Biden, Bryan Mena, Jerome Powell, Powell Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, IG North America, JPMorgan Chase, BlackRock, Citigroup, PNC Financial Services, BMO Family Office, Federal Reserve, Wall, Traders, Bureau of Labor Statistics, —, Federal, Fed Locations: New York, Wells Fargo, pare

☆ Banks say they’re meeting climate pledges. A new report says they’re ineffective
▼ + stars: | 2024-04-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

Why gold prices are at record highsFrom central banks to Costco customers, it seems everyone is buying gold these days, reports CNN’s John Towfighi. Central banks see gold as a long-term store of value and a safe haven during times of economic and international turmoil. When interest rates fall, gold prices tend to rise, as bullion becomes more appealing than income-paying assets like bonds. The People’s Bank of China bought gold for the 17th straight month in March, adding 160,000 ounces to bring reserves to 72.74 million troy ounces of gold, according to Reuters. The Honest Company posted a strong fourth quarter in March.

Persons: –, ” Mark Carney, ”, GFANZ, Jamie Dimon, ” Dimon, JPMorgan, CNN’s John Towfighi, China —, Read, Jessica Alba, Ramishah Maruf, Alba’s, Chuck Organizations: CNN Business, Bell, New York CNN, European Central Bank, Glasgow Financial Alliance, UN, Bank of England, ECB, MIT, Columbia Business School, Zero Banking Alliance, United Nations, decarbonization, CNN, JPMorgan Chase, State, JPMorgan, Investors, Federal Reserve, China, People’s Bank of China, Reuters, UBS, The Honest, The Honest Company, Honest, Nasdaq Locations: New York, Glasgow, China, India, Turkey

☆ Gen Z is full of financial angst despite inheriting a golden labor market
▼ + stars: | 2024-04-10 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

Compared with Millennials, especially, who entered the workforce in the Dark Ages known as the Great Recession, the Gen Z experience is a dream. But Gen Z isn’t having an easy go of it either. Gen Z hasn’t had a chance to get a foot in the door. “Many Gen Zers also indicated their first step in managing behavioral-health challenges was going to TikTok or Reddit for advice,” the report said. It’s hard to blame them: Many in Gen Z had their formative school years blown up by a global pandemic.

Persons: CNN Business ’, Z, Zers —, ” Brendan Duke, they’re, haven’t, ” Duke, “, Z hasn’t, Duke, ‘, ”, Gen Zers, Zers, Gen Z, that’s, that’ll, We’re, X, Charles Schwab Organizations: CNN Business, New York CNN, Boomers, Center for American, Federal Reserve, McKinsey, Bloomberg Locations: New York

☆ Big Tech’s grip on social media is a growing problem
▼ + stars: | 2024-04-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

That concentration of digital ownership can create real-world harm, as a recent censorship dispute with Meta lays bare. We don’t know,” Kabas wrote in her recounting of the situation. Meta controls a whole bunch of the social media ecosystem, and that means there aren’t a lot of competitors to keep it honest. Meanwhile, all of media relies on it because content creators have to get in front of readers if they want to survive. We don’t know what happened within Meta to trigger an erroneous block of legitimate news sources last week.

Persons: CNN Business ’, Meta, Marisa Kabas, Kabas, Sherman Smith, Andy Stone, ” Kabas, “, ”, Clay Wirestone Organizations: CNN Business, New York CNN, Facebook, Meta, CNN, Twitter, Free Speech Police Locations: New York, Kansas, Brooklyn, Meta

☆ The stock market is shrinking and Jamie Dimon is worried
▼ + stars: | 2024-04-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +10 min

Jamie Dimon, one of the world’s most influential business leaders, is worried. The PE boom: The shrinking public market has private equity to blame — funds that pool money from investors to acquire or invest in companies. When a PE fund buys a public company, it takes that company private. The number of private companies in the US backed by PE firms has grown from 1,900 to 11,200 over the last two decades, according to JPMorgan data. Dimon’s company, of course, makes a huge amount of money from taking companies public, so he’s not exactly an impartial observer.

Persons: Jamie Dimon, ”, Matthew Kennedy, Dimon, “, it’s, Russell, Lewis, Glass Lewis, Wells, aren’t, Matt Egan, Donald Trump’s, That’s, Reddit, —, Read, Biden, Joe Biden’s, Sam Fossum, Anna Cooban, ” Biden Organizations: CNN Business, Bell, New York CNN, JPMorgan Chase, JPMorgan, Renaissance, PE, ” Companies, Companies, Harvard Law, Corporate, Institutional, Services, Deutsche Börse, Peloton Capital, CNN, ISS, Social, Trump Media & Technology Group, Trump, Trump Media, Twitter, White, Taiwan Semiconductor Manufacturing Company Locations: New York, United States, America, German, Arizona, ”

☆ Why 2024 will be a year of fits and starts for dealmaking on Wall Street
▼ + stars: | 2024-04-08 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —Dealmaking is big business on Wall Street. That made Goldman responsible for nearly a third of the total global M&A advisory market last year. But there are fits and starts to today’s market. What do the fits and starts mean? I go back to fits and starts with good underlying trends that momentum builds, but it’s not going to be a straight line.

Persons: New York CNN —, Goldman Sachs, Goldman, Stephan Feldgoise, we’re, we’ve, it’s, Jamie Dimon, ”, Dimon, JPMorgan Chase Organizations: CNN Business, Bell, New York CNN, Retail, JPMorgan Chase, International Monetary Fund, Industries, Nvidia, Microsoft, JPMorgan, Software, New Locations: New York, Oregon, Michigan, Arizona , Delaware, Florida , Iowa , Massachusetts, Wyoming

☆ March jobs report comes in hot: The US economy added 303,000 positions last month
▼ + stars: | 2024-04-05 | by ( Alicia Wallace | ) edition.cnn.com time to read: +8 min

Instead, on Friday, yet another jobs report defied expectations. “Today’s jobs report raises the possibility that rather than slowing down, job growth might be holding steady,” Nick Bunker, Indeed Hiring Lab’s economic research director for North America, said in a statement. Last month’s job growth was driven by industries such as health care (+72,300 jobs); government (+71,000 jobs); leisure and hospitality (+49,000 jobs); and construction (+39,000 jobs). President Joe Biden touted March’s jobs report Friday. With today’s report of 303,000 new jobs in March, we have passed the milestone of 15 million jobs created since I took office.

Persons: Nick Bunker, Joe Biden, “, ” Biden, —, Greg Daco, ”, ” Daco, we’ve, Erica Groshen, ” Brett House, Daco, Price Organizations: New, New York CNN, of Labor Statistics, Federal Reserve, North, ”, CNN Business, Cornell University, CNN, Brookings Institution, Congressional, Columbia Business School, Fed, Labor Locations: New York, North America, EY, United States

☆ Why you can, and should, ignore that 9pm email from your boss
▼ + stars: | 2024-04-05 | by ( Allison Morrow | ) edition.cnn.com time to read: +5 min

Work is part of our identity here in a way that people from other countries find at turns fascinating and pathological. The bill would aim to ensure that people aren’t pinged with work emails, texts or calls outside their established work hours, with notable exceptions for emergencies or scheduling issues. If the boss intrudes on your non-work window three times, you can report them and the state could impose fines starting at $100. No one likes pausing Succession to respond to a 9pm request, but the guilt of ignoring it and wondering whether your boss will be mad at you is also, like, not fun. A historically tight labor market has given workers more leverage to negotiate their pay, hours and working conditions.

Persons: CNN Business ’, they’re, ”, Matt Haney, “ Workers shouldn’t, intrudes, Mike Solana, Ashley Herd, Herd, Haney, FDR, “, there’s, she’s, ” Herd, —, Jeanne Sahadi Organizations: CNN Business, New York CNN, Lawmakers, State Assembly, “ Workers, Nanny, Fund, Pew, Fair Labor, Act Locations: New York, France, California, Australia, Italy, Portugal, Belgium, “ california

☆ Premarket stocks: The rally is sputtering. Earnings season could revive it
▼ + stars: | 2024-04-05 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

Investors are hoping the upcoming earnings season will help bring back this year’s banner rally. The first-quarter earnings season could get the stock rally chugging along again, some investors say. Earnings season kicks off next week with quarterly updates from Delta Air Lines, Citigroup, BlackRock, JPMorgan Chase and Wells Fargo. For the millions of recent Latino immigrants in the US, construction jobs have low barriers to entry and the openings are plentiful. The crackdown comes as its rival Netflix has attributed a jump in signups from its recent crackdown on password sharing.

Persons: Stocks, FactSet, ”, Matthew Stith, Wells, Yung, Yu Ma, Francis Scott Key, Ramishah Maruf, Gloria Pazmino, We’re, It’s, Reinaldo Quintero, “, ” Read, Samantha Murphy Kelly, Bob Iger, hasn’t, Read Organizations: CNN Business, Bell, New York CNN, Investors, Bartlett Wealth Management, Delta Air Lines, Citigroup, JPMorgan Chase, BMO Wealth Management, Bureau of Labor Statistics, CNN, Disney, CNBC, Netflix Locations: New York, BlackRock, Wells Fargo, Baltimore, America, signups

☆ 3 things rattling markets this week
▼ + stars: | 2024-04-04 | by ( Krystal Hur | ) edition.cnn.com time to read: +7 min

The S&P 500 tumbled the first two trading days of the new quarter and is down 0.8% for the week after paring back some of its losses on Wednesday. Some Fed officials revealed at the central bank’s policy meeting last month that they see fewer rate cuts than the three they forecast last December for 2024. Traders see a 63% expectation that the Fed cuts rates in June, a drop from more than 70% a week earlier, according to the CME FedWatch Tool. “With Middle East tensions on the rise, OPEC+ supply side measures have pushed crude oil volatility down,” BofA strategists wrote in a Wednesday report. “Adding to a complex backdrop, we now estimate that improving economic growth expectations have helped push global oil markets into a deficit.”The price of gold has also climbed this week.

Persons: New York CNN — Stocks, “, ”, Brent Schutte, Jerome Powell, •, Loretta Mester, Raphael Bostic, Brent, Michael Shvartsman, Gerald Shvartsman, Donald Trump’s, Matt Egan, “ Michael, ” Damian Williams, Bruce Garelick, ” Williams, ” Read, Joe Biden, Sean Lyngaas, China Nicholas Burns, Antony Blinken, Read Organizations: CNN Business, Bell, New York CNN —, Treasury, FactSet, Northwestern Mutual Wealth Management, Hawkish, San Francisco Fed, Stanford University, Wednesday, • Cleveland Fed, Atlanta Fed, CNBC, Traders, Organization of, Petroleum, West Texas, Brent, Bank of America, Trump Media, Trump Media & Technology Group, DWAC, Southern, of, Acquisition Corporation, “, Microsoft, US, Department of Homeland Security, CNN Locations: New York, OPEC, Florida, of New York, Washington, China

☆ Why ‘dynamic’ pricing feels like such a scam
▼ + stars: | 2024-04-03 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

These are surge pricing tactics so ingrained in our consumer experience, we hardly notice or care. Wendy’s last month ended up walking back comments about its dynamic pricing plans after consumers were outraged at the notion of a dinner rush making your burger more expensive. So why does surge pricing feel like such a scam? Bertini, who advises companies on dynamic pricing models, says the problem is how badly some businesses bungle the rollout. You have to explain to customers that dynamic pricing means that, over the long run, they’re getting something out of it, too.

Persons: CNN Business ’, It’s, that’s, Wendy’s, Jordan Valinsky, Marco Bertini, ” Bertini, we’ve, it’s, Bertini, ”, you’re, “ Organizations: CNN Business, New York CNN, JetBlue, Amazon Locations: New York, Wendy’s, Barcelona

☆ How Trump managed to lose $1 billion in net worth in a single day
▼ + stars: | 2024-04-02 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

That’s kinda what happened for investors in Trump Media & Technology Group, the troubled owner of Truth Social, on Monday. Even with Monday’s stumble, the stock is still up about 200% over the past six months, giving it a $6.6 billion valuation that defies logic. Trump Media, aka TMTG, generated just $4.1 million in revenue last year. But if history repeats, or even echoes, with Trump Media, investors may want to buckle up. Bottom line: Monday’s slump is hardly game over for Trump and his social media company.

Persons: CNN Business ’, Wile, Coyote, Monday’s, Matt Egan, It’s, ” Axios, Dan Primack, “, Donald Trump, David, dusts Organizations: CNN Business, New York CNN, Trump Media & Technology Group, Truth, Trump Media, GameStop, Trump Locations: New York, selloff

☆ It’s jobs week. Here’s what to watch for
▼ + stars: | 2024-04-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Welcome to jobs week. Fed Chair Jerome Powell said last week that a weakening labor market would be a reason to reduce interest rates. It’s hard to imagine that this jobs report will substantially move the needle on Fed policy, said Michael Brown, a senior research strategist at Pepperstone. The Conference Board’s February Consumer Confidence survey found that “Consumers’ appraisal of the labor market was more positive in March” than in previous months. The week ahead: While the main event this week is Friday’s jobs report, there’s plenty of other jobs data this week for traders to grab on to.

Persons: Jerome Powell, I’ll, nonfarm, ”, Dave Sekera, “, ‘, we’re, Goldman Sachs, Michael Brown, Powell, Brown, It’s, Donald Trump, Matt Egan, Trump, That’s, Natasha Chen Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Goldman, Labor, Stanford, Social, Trump Media & Technology Group, Trump Media Locations: New York, ”, California

☆ One of the largest FTX creditors is trying to recoup millions for victims
▼ + stars: | 2024-04-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Bruch is one of the largest individual FTX creditors and has been tapped by the US Department of Justice to serve as one of nine on the FTX Creditors’ Committee, where he is working to recoup the funds lost by customers. DOJ-appointed creditor committees ordinarily consist of people and companies who hold the seven largest unsecured claims against the debtor (in this case, FTX), according to the agency. Before the Bell spoke with Bruch about Sam Bankman-Fried, FTX, MyPrize and the future of crypto. I feel for all of the creditors and am doing everything I can to help recoup what was taken from us. I’ve worked at some of the largest crypto trading desks in the world and then also started trading my own book of capital and grew to become one of the largest individual crypto traders.

Persons: Sam Bankman, Fried, Zach Bruch, Bruch, MyPrize, Bell, Sam Bankman Fried, —, ”, Sam Bankman Fried’s, Bitcoin, I’ve, Elisabeth Buchwald, Jerome Powell wasn’t, ” Powell, Powell, Christopher Waller, Evan Gershkovich, Evan Gershkovich’s, Radina Gigova, Anna Chernova, Antonina Favorskaya, Alexey Navalny, Favorskaya, Gershkovich Organizations: CNN Business, Bell, New York CNN, US Department of Justice, ’, DOJ, Arrington Capital, Department of Justice, Federal, Commerce Department, San Francisco Fed, ” Fed, CNN, Wall Street Locations: New York, Russia, Yekaterinburg

☆ Trump Media is a risky bet, whether you love it or hate it
▼ + stars: | 2024-03-28 | by ( Allison Morrow | ) edition.cnn.com time to read: +3 min

Those who have already swallowed the high borrowing costs to short Trump Media are getting hosed. But if the stock price keeps going up, there’s no limit to the amount you’d have to pay to replace the borrowed shares. “But…long shareholders have a much different and much more positive view” on Trump Media. Bottom line: Trump Media, trading under the ticker DJT, is a classic meme stock (if “classic” can apply to a three-year-old concept). Whether you’re going short or long, “think of that as you’re making a political statement,” said Laurence White, an economics professor at New York University’s Stern School of Business.

Persons: CNN Business ’, New York CNN —, Donald Trump’s, it’s, ”, Ihor Dusaniwsky, Trump, you’re, Laurence White, University’s Organizations: CNN Business, New York CNN, New York CNN — Trump, Trump Media, S3 Partners, GameStop, AMC, University’s Stern School of Business Locations: New York, New

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