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Hollywood fears job cuts as opposition to Netflix-Warner deal grows Financial TimesAngst Turns to Anger in Hollywood as Netflix Hooks Warner Bros. The New York TimesNetflix Breaks Its Silence, Sends Clear Message to Customers Men's JournalFormer Amazon exec warns Netflix-WBD deal will make Hollywood 'a system that circles a single sun' FortuneNetflix has a big unanswered question. That may kill its Warner Bros. deal CNN
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Judge Stalls Justice Dept. Effort to Seek New Comey Indictment NY TimesJudge blocks prosecutors' access to James Comey's lawyer's emails and data PoliticoJudge blocks access to emails seized from James Comey's lawyer The Washington PostJudge rules evidence linked to James Comey's ally is off limits to DOJ Fox News
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Carvana's wild ride: From one of the most heavily shorted stocks to S&P 500 inclusion Seeking AlphaCarvana, CRH, Comfort Systems to join S&P 500 in rebalancing Yahoo FinanceMajor used-car retailer gets set to join the S&P 500 TheStreetCarvana stock soars after S&P 500 inclusion announcement Investing.comCarvana ge
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The Fed is widely expected to cut interest rates for the third meeting in a row when it meets this week.
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Payrolls data came in weaker than expected, which raised bets for a Fed rate cut.
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The Federal Reserve served up a widely expected third consecutive jumbo rate hike when it concluded its regularly scheduled two-day meeting on Wednesday. Chair Jerome Powell and the rest of the Federal Open Market Committee (FOMC) raised the federal funds rate by 75 basis points. (A basis point equals 0.01%.)
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Although the move matched consensus expectations, a significant portion of the bond market - and plenty of traders and tacticians, for that matter - were bracing for a whopping 100 bp rate hike. Uncertainty over just how hawkish the Fed would reveal itself to be has cast a pall on equities over the preceding weeks, and so a rate hike of "only" three-quarters of a percentage point was actually met with some relief. Stocks sold off sharply when the Fed released its statement at 2 p.m. Eastern, but then drifted back into positive territory during Powell's press conference, which began a half-hour later.
Ultimately, however, the major indexes finished in the red. That's because the Fed's bottom line is that inflation is by no means under control. And while there might be ample anecdotal and emotional evidence pointing to the contrary, the economy is simply running too hot. An imbalance in supply and demand in the labor market and related strong real wage growth, snarled supply chains and a rising dollar are just some of the factors confounding monetary policymakers - not to mention corporate revenues and profit margins.
As we've
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