No wonder Powell didn’t commit to extra hikes. Here are five reasons the January jobs report may be too good to be true.
Traders took heart that Fed Chair Jerome Powell, when he wasn’t being questioned by David Rubinstein on how he gets by on $190,000 per year, didn’t commit on Tuesday to having to be even more aggressive on interest rates given the huge 517,000 surge in nonfarm payrolls. Powell said rates would have to go even […]
The next few days may reveal whether investors have been riding one big suckers rally, says this strategist.
Stock futures are pointing due south as caution grips investors following Friday’s monster jobs beat. While subject to revisions, that 517,000 surge in U.S. jobs may have shredded hopes among some that the Fed will be done with rate hikes sooner rather than later. “Half a million jobs, climb down off the wall, call the recession […]
New rules would limit sugar in U.S. school meals for first time, but plan draws mixed reactions from nutritionists
U.S. Agriculture Department officials on Friday proposed new nutrition standards for school meals, including the first limits on added sugars, with a focus on sweetened foods such as cereals, yogurt, flavored milk and breakfast pastries.The plan announced by Agriculture Secretary Tom Vilsack also seeks to significantly decrease sodium in the meals served to the nation’s […]
How would a gas stove ban affect wok cooking and the Asian American community?
When Charlene Luo was looking for a condo to buy in 2021, she had two nonnegotiable requirements: one, enough space to host friends for dinner; and two, a gas stove with the capacity to install a powerful range hood.Luo, a data scientist, cooks every day and hosts a supper club from time to time in […]
Sammy Hagar on making music, managing money — and drinking $80K bottles of wine
Sammy Hagar says he still can’t drive 55. But it’s hard to tell if he means that literally, or if he’s speaking about his take-no-prisoners philosophy of life as a whole.Hagar — aka the Red Rocker — is the Rock & Roll Hall of Famer best known for his stints as lead singer of Van […]
McDonald’s earnings haven’t been hit by higher prices, as ‘it just seems like Americans are more upset by the change in price at grocery stores’
Rising prices have kept diners away from many restaurants, but not McDonald’s Corp. As the ubiquitous burger chain prepares to report fourth-quarter results on Tuesday with its stock close to record highs, Wall Street could get pickier about signs of the company’s growth, though analysts were largely upbeat heading into the report. Some said McDonald’s […]
Where is Monterey Park and what does the shooting mean to Asian-Americans?
The mass shooting in Monterey Park, Calif., stunned the Asian-American community. Not only because the shooting happened on Lunar New Year’s Eve, but also because it happened in Monterey Park, a predominantly Asian city that holds a special place in the Asian-American landscape. On Saturday night, a gunman opened fire at a party inside the… […]
‘Overbought and overpriced.’ Why this investor sees a bubble popping for this popular group of stocks
Investors wouldn’t be blamed for sizing up the first losing week in three for the S&P 500 and decide to start the weekend early. And stock futures are just barely positive.Who can blame them after the mixed bag of data this week that has reigniting worries in some corners about whether the Fed could push […]
Bad omen? Americans ate out less over the holiday season.
What’s one of the first things people do when they get worried about the economy? They cook more at home and eat out less. That’s what happened toward the end of 2022. Sales at bars and restaurants fell in both November and December — the first back-to-back monthly declines in almost a year. Receipts at […]
The 1980s was the blueprint for the upcoming disinflation cycle and these are the stocks for it, strategists say
Stocks are setting up for a third straight losing session after data sparked fears that the economy is losing steam, while the Fed pushes on with interest rate hikes. Or as CNBC commentator Ron Insana put it:On that front, our call of the day from Jefferies tackles that idea. “Disinflation is a key assumption for […]