The number of Americans who applied for unemployment benefits in stayed below 200,000 for the fifth week in a row, signaling the U.S. labor market is still quite strong.
: Are mental competency tests for older politicians ageist?
Nikki Haley called for ‘mandatory mental competency’ tests during her presidential campaign announcement
: Elon Musk is close to becoming the world’s top billionaire again, as his wealth pile climbs $54 billion in 2023 so far
As of Thursday, Elon Musk was worth $191 billion, according to the Bloomberg Billionaires Index. That’s just behind the No. 1 billionaire.
The Fed: Fed’s Mester said she saw a ‘compelling’ case for half-point hike at January meeting
Cleveland Fed President Loretta Mester said Thursday she saw a compelling case for a half percentage point rate hike in January, larger than other Fed officials backed.
Earnings Results: Toast’s stock dives after earnings as outlook ‘may not meet investor enthusiasm’
Shares of Toast were getting slammed in premarket trading Thursday after the company posted fourth-quarter results.
Economic Report: Philadelphia Fed’s manufacturing gauge sinks in February to lowest since May 2020
The Philadelphia Fed’s manufacturing index stayed negative for the sixth straight month in February.
: Spy balloon incident was a ‘coordinated effort to gather intelligence,’ former NORAD operations director says
The downing of the Chinese balloon has sparked a fierce diplomatic row between Washington and Beijing
Earnings Results: Kraft Heinz is done raising prices, but sees more inflation pain this year
Kraft Heinz has “no current plan” to raise prices in 2023, after prices rose by more than 15 percentage points in the fourth quarter.
Need to Know: Another ‘Volmageddon’? JPMorgan becomes the latest to warn about an increasingly popular short-term options strategy.
“While history doesn’t repeat, it often rhymes, and current selling of 0DTE (zero day to expiry), daily and weekly options is having a similar impact on markets,” says JPM’s Marko Kolanovic.
FA Center: In a divorce, who gets to keep the financial adviser?
One more valuable for couples to divide in a breakup.