JPMorgan: GDP Growth 'Is Like Running on Red Bull'
*By Michael Teich*
President Trump's top economic advisor Larry Kudlow said this week that economic growth could top [4 percent](https://www.cnbc.com/2018/07/18/trump-advisor-kudlow-says-economic-growth-could-top-4percent-for-a-quarter-.html).
And while JPMorgan ETFs global market strategist Samantha Azzarello agrees, she does doubt its sustainability.
"It’s like running on Red Bull, which you can not do forever," she told Cheddar in an interview Thursday.
The economy is getting a jolt from tax cuts, government spending, and high consumption. But trade tensions have weighed on the markets recently, and as Azzarello explained, we're late in the cycleーthe bull market turned 9 years old in March, its longest ever run.
"There's fatigue with this bull market, which is bizarre. We should feel good that the earnings growth is so good," she said.
"If you contrast the earnings data, which is so positive and so strong, with how much the market is up, it literally doesn't make any sense."
For the full segment, [click here.](https://cheddar.com/videos/u-s-economy-running-on-red-bull-but-wont-last-says-market-strategist)
Career opportunity platform Guild raised $175 million in a Series F round led by Wellington Management. Global media icon Oprah Winfrey also participated in the round, which comes just months after Guild was named one of Time's most influential companies. Guild partners with employers to help them offer education opportunities to their employees. Customers include some of the biggest companies in the world, including Walmart, Pepsi, and Disney. The startup's funding comes amid a historically tight labor market, with demand for workers remaining strong across the country. Rachel Romer Carlson, Co-Founder and CEO of Guild, joins Cheddar News' Closing Bell to discuss.
Day two of celebrations for Queen Elizabeth II's Platinum Jubilee are underway on Friday in the United Kingdom, as the country continues to honor the monarch's 70 years on the throne. While most of the attention is on the Queen, brands around the world are also hoping to use the cultural moment to get the attention of consumers with limited-edition Jubilee-themed products. The Centre for Retail Research estimated consumers will spend the equivalent of $510 million on Jubilee-related expenses throughout the celebration this weekend. Hilary Fordwich, global business analyst and British royals commentator, joins Cheddar News' Closing Bell to discuss.
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Major business leaders are taking in the current U.S. economic backdrop — including inflation and a first-quarter GDP contraction — and voicing pessimistic outlooks about what the economy will do. Meanwhile, the question on everyone's mind is still whether or not we will enter a recession, and when. Mike 'Mish' Shedlock, an investment advisor at Sitka Pacific Capital Management, says on Closing Bell that business leaders aren't anxious enough, and that it's likely the U.S. will enter a recession early in the third quarter of this year.
Los Angeles Rams wide receiver Cooper Kupp is partnering with eye-drop brand Pataday to help those struggling with allergies — such as himself. The Super Bowl LVI MVPjoined Cheddar News to discuss his own struggle with seasonal allergies. “It's right when football's starting back up, I feel like I get so excited to finally be back playing the game, and then, you know, spring comes around and completely knocks me out," he said.
After a week of changes including a ticker change and longtime COO Sheryl Sandberg stepping down, Meta's future may seem uncertain. Cheddar News anchors Kristen Scholer and Ken Buffa broke it all down a the stock dropped around 4 percent on Friday amid a flurry of speculation around the company formerly known as Facebook.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street.
Buy now, pay later — or point-of-sales loans — might be making it difficult to get a handle on your credit. These companies typically do not report payment history during transactions, so without this data going to credit scoring companies, it makes it difficult to know how many loans a customer still needs to pay. Experts are recommend paying off these debts as soon as possible.
