Here is a rundown of Cheddar News' top trending market stories of the day. 

RECESSION OUTLOOK

After Friday's historic jobs report, which showed the U.S. economy adding half a million new positions despite a slew of recent high-profile tech layoffs, recession blues are waning. Economist Larry Summers, former Treasury secretary under president Bill Clinton, told CNN's Fareed Zakariaha on Sunday that it is now more likely the Federal Reserve will pull off a "soft landing" (i.e. avoid a recession), even as he stressed that the economy is  not "out of the woods" yet. 

APPLE'S NEW IPHONE

Apple tracker Mark Gurman said the tech giant is currently deciding whether it will release a new, more expensive iPhone called "Ultra" in the near future, which could arrive on shelves as part of the iPhone 16 lineup in 2024.  Gurman speculated that this new model would actually be more expensive than the iPhone Pro and Pro Max models, which start at $1,099. 

TWITTER COMPETITOR 

Kevin Systrom and Mike Krieger, co-founders of Instagram, last week revealed details about their latest project: a social media app designed to compete with Twitter. Called Artifact, the entrepreneurs described the app as a "personalized news feed using the latest AI tech." Right now, the app is only accessible via invitation only, but those interested in a Twitter alternative can sign up for a wait list to eventually test out if Artifact is a serious contender. 

ACTIVISION BLIZZARD SETTLEMENT

Activision Blizzard, the company behind Call of Duty and Overwatch, has settled charges over its handling of workplace harassment and discrimination claims with a $35 million fine. The Securities and Exchange Commission released a statement saying the company was aware that it lacked sufficient procedures to address the problem and needed to be more proactive to collect and assess the complaints.  

Share:
More In Business
Report: Big 3 to Pay Striking Workers
The big three car companies for GM and Stellantis have agreed to pay striking workers as they spend time on the picket line, according to The Wall Street Journal.
Stretching Your Dollar: How OneMain Financial is Teaching Kids About Credit
Learning about money is a skill that should be learned at an early age. OneMain Financial is now offering a financial course called 'Credit Worthy' across several high schools across the country, along with some scholarships. Doug Shulman, CEO of OneMain Financial, joined Cheddar News to discuss the importance of learning and understanding credit. "Over half of high school students graduate without knowing the basics about credit," Schulman said. "It really helps establish a great foundation to being an independent adult, to have a healthy and happy life, and some financial security is part of that."
Potential Strike by Las Vegas Workers
Thousands of hospitality workers across 18 casinos in Las Vegas have announced they are set to strike if a new contract agreement is not reached by Friday, November 10.
Load More