Rate hikes look like they are here to stay given the US just added over 500K jobs and unemployment fell to a
53-year low of 3.4%. Remember that the Fed is attempting to do the impossible by cooling the economy with rate hikes and still keeping unemployment low. However, if unemployment stays too low then that means the rate hikes are not doing their job and inflation is still way too prevalent.
Carnival,
Royal Caribbean, and Norwegian Cruise Line are all on the comeback as bookings start to rival or even match pre-pandemic numbers. This spending on cruises has many coining a new term called "Revenge Spending." Revenge Spending is coming from consumers putting high value on real life experiences like cruises an traveling because that's what was taken away from them during the pandemic. All this is coming despite record high travel and cruise prices due to inflation.
A massive sell off of Ethereum could be coming. a new innovation called Shanghai Hard Fork might allow people to sell off staked ETH, which was previously used as collateral. If this prediction comes to
fruition, then expect a major downturn in the price of ETH.
Big Western Oil companies brought in a combined $200B in profits last year. Yet, some experts think this is the beginning of the end of Big Oil as renewable energy matched
investment dollars of oil and Gas for the first time in history to the tune of $1 trillion last year. Oil and Gas investment is expected to go down or at least stay relatively the same over the next decade but renewable energy is expected to hit $2 trillion in investment dollars by 2030.
OpenAI, the revolutionary company behind ChatGPT, announced a $20/month premium subscription to ChatGPT. At the same time, it released a tool that can help detect AI-generated text. Unfortunately, or fortunately, depending on your perspective, the tool fails 75% of the time.
META shares popped
about 25% last week because investors were surprised by the quarterly revenue numbers, but with the metaverse put somewhat on the back burner due to layoffs and the ad apocalypse still raging the surge in stock price may be short-lived.
Spotify shares
went through the roof because of record user growth but they are still an astonishing $250 million away from profitability.
Employees want to stay remote, but employers are not
having it. Remote job postings on Linkedin fell from 21% to 13% last month.
Zoom shares are down 85% from pandemic highs and the video conferencing company will be laying off 15% of its workforce. Yet, another tech
company that hired to egregiously during the pandemic.
$16B predicted to be bet on the Superbowl!
