The U.S. stock market got off to a bumpy start in 2023. A bearish backdrop means investors looking to a popular January indicators to clues to how the year will pan out should approach the data with caution, analysts said.
The Margin: ‘Romeo & Juliet’ actors suing Paramount for sexual exploitation over 1968 movie’s teen nude scene
Then-teen actors Leonard Whiting and Olivia Hussey sue Paramount for $500 million, alleging they were misled for a nude scene in 1968’s “Romeo and Juliet.”
: Stitch Fix plans more layoffs amid CEO shakeup
Stitch Fix Inc. will conduct additional layoffs and change its leadership as the personal-styling company comes off a dismal year for its shares.
: Online holiday sales top $210 billion, beating expectations
Online shoppers spent a record $211.7 over the holidays, according to Adobe, up 3.5% from a year ago and above pre-holiday expectations
Financial Crime: New York attorney general files fraud suit against Celsius Network and its founder Alex Mashinsky
The suit claims Mashinsky defrauded investors out of billions by lying about Celsius’ “deteriorating financial condition.”
Coronavirus Update: WHO is ‘concerned’ about coronavirus variant XBB.1.5 and its apparent growth advantage
COVID cases rose globally in December, according to WHO data, and BA.5 and its subvariants remained dominant
: Fight over House speaker job offers ‘ominous portent of how the U.S. debt-ceiling fight will go,’ analyst says
As the U.S. House struggles to elect its next speaker, analysts warn that the rocky process doesn’t bode well for how other issues will get resolved in 2023.
: ‘Concessions have made a comeback’: In a cooling housing market, sellers pull out all the stops to lure buyers
About 42% of homes sold in the fourth quarter were sold at a concession, according to a new report from Redfin.
Economic Report: ADP says 235,000 private-sector U.S. jobs created in December
Private payrolls rose by 235,000 in December, payroll processor ADP said Thursday, in a sign that many companies are still hiring and the U.S. labor market remains strong.
The Fed: Fed’s George sees rates above 5% for some time
Outgoing Kansas City Fed President Esther George says the fight against inflation will require rates to stay elevated for some time.