An odd pairing is suffering right now because of more of the world forgetting about Covid. Lululemon and Apple are both pandemic darlings that are now hitting tougher times. Lululemon is not as appealing to
shoppers who actually have to leave their homes and people, especially
Gen Zers, are attempting to become less glued to Tech, especially the all-powerful Apple products.
Tech layoffs are spreading to Finance as Goldman Sachs plans to lay off over 3,000 employees this week. As the labor market cools, investors are hoping inflation cools with it. Remember if
everyone is working and making good money than inflation is inevitable, this is why the Fed wants to keep the rate hikes coming so spending dies down and people stop hiring so much. That balancing act between inflation and the job market is one that is near impossible to pull-off.
The Earth's Ozone is expected to be
fully recovered by 2045 scientists say. This is a big deal because in the 1980's it was discovered that there was hole in the ozone due to Chlorofluorocarbons, which is what old school air conditioners, refrigerators, and deodorants had plenty of. But now all seems well as those CFCs as their called have been at all-time lows since the 80's which has given the ozone time to repair.
Kevin McCarthy is now the speaker of the house after a lot of rounds of contentious voting. Investors are most concerned that the Republicans who held up the cote will be the same ones that hold up debt ceiling increases in the future. The government needs to keep increasing the debt ceiling to
avoid a credit default. Basically, if the government can't keep borrowing money to pay off its debts then it will default and destroy the value of the US dollar thus destroying the world economy in many ways. If you're thinking our whole economic system is built on a house of cards, you're not wrong!!
China is dropping restrictions left and right and this is boosting travel and
therefore Oil. This is predominantly why you're seeing rising gas prices at the moment. Though they should level off at some point.
The CCP has forced Ant Group CEO Jack Ma to step down. This is the Chinese Government showing its
strength amid tech crackdowns. Ant Group is a major player in fintech (Financial Tech).
