U.S. markets ended the week in the red as investors are figuring out how the Federal Reserve will act on interest rates moving forward. Cheddar News speaks with Steve Sosnick, chief strategist at Interactive Brokers, who breaks down the markets' action.
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Cheddar Afternoon News Briefings of March 1st
Cheddar Morning News Briefings
Stocks Slip as Stubborn Inflation Raises Rate Expectations
Most stocks marched lower Wednesday as stubbornly sticky inflation has Wall Street bracing for interest rates to stay higher for longer.
Eli Lilly Slashes Price of Insulin, Caps Monthly Cost at $35
In line with a Biden administration proposal, pharmaceutical giant Eli Lilly is cutting the price of its most commonly prescribed insulins by 70 percent and capping out-of-pocket costs at $35 or less per month.
Demand for Mortgage Applications Falls to 28-Year Low
Demand for mortgage loan applications fell 5.7 percent in the last week of February, according to a survey from the Mortgage Bankers Association (MBA).
Morning Alexa Flash Briefings of March 1st
Morning Alexa Flash Briefings
Millions at Risk of Slipping Into Poverty as COVID-Era SNAP Benefits Set to End
A large cross-section of Americans is at risk of falling below the poverty line as the program that provided more than 32 million people with extra SNAP benefits during the pandemic is set to end. Families received at least $95 extra per month to spend on food.
Today Explained: COVID-19 Era Expanded SNAP Benefits End
Today Explained: COVID-19 Era Expanded SNAP Benefits End
Black Innovation Alliance Working to Empower Black Entrepreneurs
The Black Innovation Alliance is working to empower Black entrepreneurs and recently received a $3 million commitment from UBS to help with resources. Ifeoma Ike, director of policy and movement strategy with the Black Innovation Alliance, joined Cheddar News to explain further the organization's mission.
Stocks Close on Final Day of February
Shana Sissel, president & CEO of Banrion Capital Management, joined Cheddar News to discuss another down day on the last session of the month in trading as inflation, a restricted monetary policy, and layoffs continue to affect markets.
