Inflation report due Tuesday has the potential to deliver some bad news
All market eyes Tuesday will be on the release of the Labor Department’s consumer price index.
Financial News
U.S. shoots down a fourth high-altitude object as lawmakers demand more information
Members of Congress say they have not been briefed about four high-altitude objects downed in the airspace above the U.S. and Canada.
Google employees criticize CEO Sundar Pichai for ‘rushed, botched’ announcement of GPT competitor Bard
In addition to a slide in its stock, Alphabet is facing criticism from employees following the announcement of its ChatGPT competitor this week.
U.S. shoots down second ‘high altitude object’ days after Chinese spy balloon
The object was destroyed by a missile from an F-22 fighter plane off the northeastern coast of Alaska.
Angry senators grill Pentagon officials over Chinese spy balloon response
Senators were visibly angry as they pressed Pentagon officials on when they learned of the Chinese spy balloon, and why they waited so long to shoot it down.
Disney to cut 7,000 jobs and slash $5.5 billion in costs as it unveils vast restructuring
Disney unveiled a vast corporate restructuring, and CEO Bob Iger said the company isn’t considering a spinoff of ESPN.
Fed Chair Powell says inflation is starting to ease, but interest rates still likely to rise
Fed Chairman Jerome Powell spoke Wednesday in a question-and-answer session at the Economic Club of Washington, D.C.
Google announces Bard A.I. in response to ChatGPT
Google Bard comes as the company tries to compete with the popularity of ChatGPT.
Optimism on Chinese stocks soars to five-year highs
Money is flowing into mainland Chinese and Hong Kong stocks in ways not seen since 2018, according to research firm EPFR Global.
Tech stocks just finished a five-week rally — the longest stretch since market peak in November 2021
Cost cuts have replaced growth on Wall Street’s checklist, and tech executives are being celebrated for efficiency over innovation.