U.S. applications for unemployment benefits fell last week as employers continue to retain workers despite resurgent inflation and elevated interest rates. The number of Americans filing for jobless benefits fell by 7,000 to 213,000 for the week ending February 8, the Labor Department said Thursday. Analysts projected that 215,000 new applications would be filed. Weekly applications for jobless benefits are considered representative of layoffs. The total number of Americans receiving unemployment benefits for the week of February 1 fell to 1.85 million, a decrease of 36,000 from the previous week.
It’s a chicken-and-egg problem: Restaurants are struggling with record-high U.S. egg prices, but their omelets, scrambles and huevos rancheros may be part of the problem. Breakfast is booming at U.S. eateries. First Watch, a restaurant chain that serves breakfast, brunch and lunch, nearly quadrupled its locations over the past decade to 570. Fast-food chains like Starbucks and Wendy's added more egg-filled breakfast items. In normal times, egg producers could meet the demand. But a bird flu outbreak that has forced them to slaughter their flocks is making supplies scarcer and pushing up prices. Some restaurants like Waffle House have added a surcharge to offset their costs.
JPMorgan Chase says profits jumped sharply ias the bank cashed in billions of dollars of its holdings in Visa Inc., also helped by higher interest rates.
After a few months of positive data, the Fed chair says he’s in no rush to cut rates – and this analyst says inflation could stick around for the near future.
The Fed chair seems pleased with how far inflation has fallen, but according to this analyst, we could be waiting until 2025 to hit that crucial 2% goal.
While the Fed has made it clear that it won’t consider cutting rates until at least September, one analyst is expecting a whopping seven cuts in a row.
The NASDAQ’s Executive Vice President of Corporate Platforms breaks down why you’ll probably see a lot of companies going public in September and December.
