The Commerce Department’s release of the personal consumption expenditures (PCE) price index for December, a key inflation gauge closely monitored by the Federal Reserve, revealed a monthly increase of 0.2%, with a year-on-year rise of 2.9%, excluding food and energy. While economists anticipated respective increases of 0.2% and 3%, the data indicates a cooling trend… Continue reading Fed’s favorite inflation gauge rose 0.2% in December and was up 2.9% from a year ago

General Motors (GM) and Honda have initiated commercial production of hydrogen fuel cell systems through their joint venture, Fuel Cell System Manufacturing LLC, based in suburban Detroit. This $85 million facility represents a 50-50 partnership between the automakers, and they are marketing and selling the products separately. The joint venture marks the first large-scale production… Continue reading GM, Honda begin U.S. fuel cell production in step toward replacing diesel

The U.S. economy outpaced expectations in the final quarter of 2023, with the Commerce Department reporting a 3.3% annualized growth in gross domestic product (GDP). This exceeded the Wall Street consensus estimate of a 2% gain for the period, and it followed a 4.9% pace of growth in the third quarter. Notably, inflation showed signs… Continue reading The U.S. economy grew at blistering 3.3% pace in Q4 while inflation pulled back

Netflix and TKO Group Holdings have announced a groundbreaking 10-year deal, valued at over $5 billion, for Netflix to air WWE’s flagship program “Raw” starting next year. This marks Netflix’s first major venture into live sports, and the streaming platform will have the option to exit the deal after five years and extend it for… Continue reading Netflix to stream WWE’s Raw starting next year in its biggest jump into live entertainment

United Airlines is reevaluating its fleet plans by considering excluding Boeing’s 737 Max 10 due to a series of delays and recent grounding issues. The Max 10, the largest model of the plane, has not yet received certification from the Federal Aviation Administration (FAA). United CEO Scott Kirby expressed frustration at Boeing for the latest… Continue reading United CEO casts doubt on 737 Max 10 order after Boeing’s recent problems

Investors are closely monitoring economic reports this week to gauge the Federal Reserve’s stance on potential interest rate cuts, a crucial factor influencing the economy and stock markets. The Commerce Department is set to release the initial gross domestic product (GDP) estimate for Q4 2023 on Thursday, with expectations of a 1.7% growth rate, the… Continue reading Two important events this week could determine the future of Fed rate policy

The demand for graphics processing units (GPUs), particularly those designed for artificial intelligence (AI) applications, has seen a significant surge, driving substantial gains for companies in the GPU manufacturing sector. In 2023, AMD experienced a remarkable increase of nearly 130%, fueled by investor optimism surrounding the company’s upcoming AI-oriented GPUs slated for shipment in the… Continue reading AMD’s stock surge in past year leads analyst to a ‘heck if we know’ rating

Salad and Go, a rising contender in the quick-service restaurant (QSR) industry, is poised to challenge Sweetgreen’s dominance with an aggressive expansion plan. While Sweetgreen had aspired to be the “McDonald’s of its generation,” Salad and Go, founded in 2013, is closing in on Sweetgreen’s store count with over 100 locations, backed by private equity… Continue reading Sweetgreen wants to be the ‘McDonald’s of its generation.’ This rival salad chain could beat it

Ford Motor is adjusting its production strategy by increasing the output of its Bronco SUV and Ranger pickup, while simultaneously reducing the production of its all-electric F-150 Lightning, according to an announcement made by the automaker. These changes aim to align production with customer demand and reflect the broader trend of adjustments to electric vehicle… Continue reading Ford cuts production of F-150 Lightning EV, adds jobs at Bronco and Ranger plant

The US labor market demonstrated unexpected resilience in the early weeks of 2024, as initial jobless claims experienced a surprising drop, reaching 187,000 for the week ending January 13. This marked the lowest level since September 24, 2022, representing a significant 16,000-decline from the previous week and surpassing the Dow Jones estimate of 208,000. Despite… Continue reading Weekly jobless claims post lowest reading since September 2022

Morgan Stanley’s newly appointed CEO, Ted Pick, expressed confidence in the bank’s ability to achieve financial targets of $10 trillion in client assets and a 20% return. Taking over from predecessor James Gorman, Pick outlined three priorities: adhering to the existing strategy, preserving the bank’s culture, and meeting the ambitious financial targets. He emphasized his… Continue reading New Morgan Stanley CEO is ‘super bullish’ on hitting financial targets

In a recent interview at the World Economic Forum in Davos, Switzerland, JPMorgan Chase CEO Jamie Dimon expressed caution about the U.S. economy in the coming two years, citing a confluence of financial and geopolitical risks. Dimon pointed to factors such as the situation in Ukraine, terrorist activity in Israel, and the Red Sea, as… Continue reading Jamie Dimon warns ‘all these very powerful forces’ will impact U.S. economy in 2024 and 2025