Hello! A product that goes viral can be a double-edged sword for retailers. Just ask Walmart. The big-box store’s e-commerce marketplace is making the rounds with an inspiring but dupe imitation of the Hermès Birkin bag. They cause headaches for brand relationships.
After a slow start to the year, the stock market has finally shown its appreciation Bank earnings and higher-than-expected inflation data. The S&P 500 ended up 1.83% on Wednesday, while the Dow (1.65%) and tech-heavy Nasdaq Composite (2.45%) posted strong days.
Let’s start with Wall Street. The big U.S. banks represent the unofficial start to earnings season, and they didn’t disappoint. JPMorgan, Goldman Sachs, Citigroup and Wells Fargo It beat all analysts’ expectations.
JPMorgan posted a 50% year-over-year profit for the fourth quarter, while Goldman’s profits jumped an impressive 105%. Banking growth was largely driven by classic Wall Street businesses such as corporate trading, capital raising and trading.
At first glance – inflation has risen for the third straight month – the reading may not look good. But a closer look showed that the year-over-year increase in the consumer price index was in line with consensus expectations, which is good.
Better yet, core inflation, which strips out volatile food and energy prices, was slightly below expectations. It also came in below the November numbers.
Before you get ahead of yourself, don’t expect too many price cuts. Instead, the data calmed investors’ nerves by reducing the worrisome rise in the 10-year Treasury yield, which fell 0.14 percent.
“Core inflation is not accelerating and that’s the story,” said Jamie Cox, managing partner of Harris Financial Group.
Big picture, it’s more motivation for the industry’s job market. After the slowdown, companies are strengthening their position on the board for what looks to be an active phase in 2025.
Private markets are areas to focus on. The sector, which includes less liquid investments such as private equity and private loans that come with higher fees, is of particular interest to BlackRock. The $11.6 trillion asset manager sees it. As a key to the next level of evolutionCEO Larry Fink said.
One evolution has not said who will take over when Fink leaves. Even if he leaves soon. Executive Director Mark WidmanHe raised questions about what life after Larry would be like at Blackrock.
JPMorgan CEO Jamie Dimon had a little more to come. With his own pension plans … sort of. When asked by an analyst who would be his successor, Dimon said there are several top candidates, but he has not made a decision.
And even if the bank has someone in mind, there’s no guarantee things won’t change, Dimon added.
1. One of Trump’s detractors is feeling good about the economy.. Although they are a critic of Trump Anthony Scaramucci is very optimistic. The upcoming 47th president about the economy. He sees Trump’s pro-growth policies and potential crypto legislation as an economic boon — but remains concerned about some of Trump’s promises.
2. The Hindenburg research is taking a hit. Nate Anderson, the founder of a short-selling firm, says he’ll break even after finishing all the cool projects. Hindenburg gained notoriety for his forensic financial research, often focusing on fraudulent or misleading corporate behavior. Anderson said. He plans to publicly share the company’s investigation methods.
3. Dividend stocks have returned a lot. According to Morningstar, large-cap stocks have dominated the market, but that could change. As their valuation increases, dividend stocks can become more desirable. The morning star shone Shares divided into four special sectors Prudent investors should pay attention.
1. Mark Zuckerberg has lost $60 billion in five years — and will keep spending. Despite consistent predictions that the VR and AR headset market will grow, consumers are not interested. Meta has lost a lot of ground on its technology over the past few years, but that hasn’t deterred Zuck from telling investors. They should expect more losses in the future.
2. Exclusive: Insight Partners raises $12.5 billion for new funding round. It is the largest amount raised by a venture capital firm in two years, according to Pitchbook data. Insight 12.5 billion dollars It may be less than the original funding goal, but it’s still an impressive achievement as it shows the industry is back.
1. WFH + Friday = OOO. For some remote workers, the W in WFH Friday is a bit of a stretch. Every weekend is turning into a three-day weekend, and They don’t feel particularly bad about it..
2. The founders of Home Depot were investigated by the FBI in the 70s and 80s, new public records show. The FBI was investigating Bernie Marcus and Arthur Blank for allegedly using a slush fund to pay bribes to California Handy Dan workers to defraud their union. New records show. The investigation ended in 1983 when prosecutors decided the case was too old and evidence was “insufficient.”
3. Double owned billionaires. January 20 is not only Trump’s inauguration, but also the first day of the World Economic Forum’s high-profile conference in Davos, Switzerland. Conflicted guests are forced Choose between A potential face time with the new president or a day of brushing shoulders with the global elite. Jeff Bezos, Google CEO Sundar Pichaiand Uber CEO Dara Khosrowshahi won’t miss Trump’s big day.
UnitedHealth Group, Bank of America and Morgan Stanley reported earnings.
The Senate Finance Committee held a hearing on Trump’s Treasury nominee Scott Besant.
South Korea’s Constitutional Court hearing against President Yoon
Insider Today Team: Dan DeFrancesco, deputy editor and anchor, in New York. Grace Lett, editor, in Chicago. Ella Hopkins, associate editor, in London. Hallam Bullock, Senior Editor, London. Amanda Yen, Associate Editor, New York. Elizabeth Casolo, associate, in Chicago.