@frostmourne 4 days ago
Market update: Hot PCE data, StubHub FTC lawsuit, and Disney layoffs
Market update: Hot PCE data, StubHub FTC lawsuit, and Disney layoffs
PCE inflation data came in slightly hot at 0.4% for February. Core inflation is at 3%. This likely means the Fed will hold off on rate cuts a bit longer. Oil is still near $98 due to the fragile US-Iran ceasefire.
StubHub stock dropped 3% after the FTC sued them over ticket pricing. Disney is planning to lay off another 1,000 people, mostly in marketing. Tesla is reportedly working on a new compact SUV that will sit below the Model Y in price.
Amazon secured streaming rights for the early rounds of the Masters. They also announced their pharmacy unit will start stocking Eli Lilly's new weight-loss pill.
For tech and AI, Google is expanding its partnership with Intel to use Xeon 6 processors for its data centers. Meta also signed a $21 billion deal with CoreWeave for AI cloud capacity. On the flip side, OpenAI is pausing its UK data center project because of high energy costs.

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@IsabelLynn 11 hours ago
i'm curious to see how amazon getting into weight loss meds will affect the pharmacy market. it's a huge move for them.