Listen to the podcast updates on business and the markets at Becker Business Minute Podcast & the Becker Private Equity and Business Podcast .
1. The markets fell again yesterday with the Dow and S&P 500 each down around .8% and the Nasdaq down almost 1%.
2. Futures are flat this AM.
3. New jobless claims came in low at 190,000. This signals the labor market remains tight and will give the Fed the ability to keep raising rates albeit at a slower pace.
4. Google announced job cuts of 12,000 people, 6% of its workforce. The overall feeling is the tech sector had become bloated and is sizing down one bit. Sundar Pichai is the highly regarded CEO of Google.
5. Progressive lawmakers in blue states are pushing in a coordinated way to raises taxes on the wealthy. See Yahoo Finance. This may cause more movement of people to lower tax states like Florida and Texas.
6. Jamie Dimon the well-regarded CEO of JP Morgan made $34 million last year.
7. Reid Hastings the noted founder of Netflix is moving to the role of Executive Chairman from Co-Ceo.
8. Crypto lender Genesis files for bankruptcy.
9. Bank profits were largely up year over year this past quarter, but investment bank profits were way down. Fifth Third and Truist each reported great results. Truist stock was up 4.3% yesterday. Fifth Third also handily beat estimates.
10. Consumer products firms like Proctor and Gamble are starting to see inflation cut into profits and sales. P&G saw revenues fall 1% and profits fall 4% year over year for the 2nd quarter. See “P&G relies on price hikes to prop up sales as volumes shrink” – Bloomberg.
11. Bitcoin is at around $21,000 today.
12. Oil opens around $81 a barrel.
13. Join us on Feb 8th at 1pm CST for the webinar “The Venture Capital Outlook For Health Care 2023” featuring:
- Sai Balasubramanian, M.D., J.D., Healthcare Strategy & Management at McKinsey & Company
- Matt Wolf, Health Care Senior Analyst and National Health Care Business Valuation Leader at RSM US LLP
- Dave Davies, Principal at EY-Parthenon
- Trishul Kapoor, MD, Serial Founder | Investor | Advisor & Deep Expertise in Anesthesiology, General Surgery, Digital Health & AI Innovation, Medical Device Development, & Mixed Reality Integration
- Robert Groves, Executive Vice President & Chief Medical Officer at Banner
Listen in at Becker Business Minute Podcast & Becker Private Equity Podcast.
14. Excited to see the Becker’s Healthcare podcast ranked 16 out of all Apple Business News Podcasts this morning.