Dow, S&P hit all-time high; Macy’s store closings; Disney CEO Iger’s payday; and Spirit-JetBlue deal grounded

    Related

    Share


    — The Dow Jones Industrial Average and the S&P 500 soar to fresh all-time highs 

    — FOX Business Exclusive: Federal Reserve President Mary Daly on the next rate move

    — Former President Trump sweeps Iowa, now on to New Hampshire as buzz swirls         over who he would pick as his VP

    — Davos Recap: What world leaders and U.S. business tycoons are talking about 

    — The U.S. national debt is a ticking time bomb 

    — Disney CEO Bob Iger feels heat over ginormous payday 

    — Macy’s shuttering stores and cutting jobs

    — Spirit Airlines, JetBlue deal grounded … maybe for good?

    TOP STORY: STOCKS SOAR The Dow Jones Industrial Average and the S&P 500 hit all-time highs this week with the broadest measure of stocks now at the highest level since January 2022…continue reading here. 

    S&P 500 YTD: +1.5%  

    S&P 500 YTD  (FOXBusiness.com )

    VIDEO: How artificial intelligence bulls are driving the stock rally. Shares of Nvidia, for example, have rallied 20% this year alone. 

    Nvidia YTD: + 20%

    Nvidia YTD (FOXBusiness.com)

    FED RATE CUTS LIKELY PUSHED OUT: Raphael Bostic, President of the Federal Reserve Bank of Atlanta and Mary Daly, President of the Federal Reserve Bank of San Franciso, tempered market expectations for a rate cut in March, both speaking exclusively to FOX Business…continue reading here.  It worked. The market is now forecasting the first rate cut will come in May, according to the CME’s FedWatch Tool. 

    VIDEO: Fed’s Mary Daly says rate cut hopes “premature.” 

    DAVOS MOVERS AND SHAKERS: Meanwhile, overseas world leaders and U.S. business titans hobnobbed in the picturesque mountains of Davos, Switzerland, where the U.S. election and the Federal Reserve’s next move were among the hottest topics of discussion. 

    VIDEO: Carlyle Group co-founder David Rubenstein on what the Fed will do next.

    DAVOS

    The town of Davos in eastern Switzerland, the venue for the annual World Economic Forum, Jan. 25, 2018.  (Miguel Medina/AFP via Getty Images / Getty Images)

    TRUMP SWEEPS IOWA: Former President Trump secured Iowa by a wide margin as he leads the GOP contenders. Now speculation is rising on who he would potentially pick as his VP. FOX Business’ Charlie Gasparino reports on the short list…continue reading here. 

    VIDEO: How Trump is wooing voters.

    Donald Trump Iowa Caucuses

    (L-R) Eric Trump, executive vice president of Trump Organization Inc.; former President Donald Trump; and Donald Trump Jr., executive vice president of development and acquisitions for Trump Organization Inc., at a caucus night watch party in Des Moi (Al Drago/Bloomberg via Getty Images / Getty Images)

    NEW HAMPSHIRE PRIMARIES: WHAT TO KNOW

    DEBT MOUNTAIN: The mounting national debt, which measures what the U.S. owes its creditors, is heading even higher after hitting a record $34 trillion. Here’s why it’s a problem…continue reading here.

    U.S. national debt

    U.S. National Debt  (U.S. Treasury Data/FOXBusiness.com)

    VIDEO: America’s government has a spending problem. 

    DISNEY DISSENT?: The media giant disclosed CEO Bob Iger pulled down a massive payday of over $31 million in 2023 as the company cut thousands of jobs, reportedly ruffling rank-and-file employees. But that’s not all. Nelson Peltz of Trian Fund Management thinks Disney should be doing a lot more for its investors with its shares down 7% over the past 12 months. That’s why he is targeting the company…continue reading here. 

    DISNEY CEO BOB IGER PULLS IN MASSIVE PAY PACKAGE

    Bob Iger at Cannes

    Bob Iger attends the “Indiana Jones And The Dial Of Destiny” red carpet during the 76th annual Cannes Film Festival at Palais des Festivals May 18, 2023, in Cannes, France.  (Getty Images / Getty Images)

    MACY’S MALAISE: The retailer will shed over 2,000 workers or 3.5% of its workforce and close five stores across the country as it struggles with the evolving way consumers shop and spend… The list of Macy’s stores that are closing.

    Macy's Inc.

    Macy’s celebrates the grand opening of a new store at Arroyo Market Square Sept. 30, 2023, in Las Vegas. (Bizuayehu Tesfaye/AP Images for Macy’s, Inc.)

    GROUNDED!: A federal judge blocked the $3 billion merger between JetBlue and Spirit Airlines, casting doubt over whether one of these carriers can survive on its own…continue reading here. Late Friday, the carriers filed notice to appeal. 

    Jetblue, Spirit

    A JetBlue airliner lands past a Spirit Airlines jet on taxiway at Fort Lauderdale Hollywood International Airport April 25, 2022.  (Joe Cavaretta/Sun Sentinel/Tribune News Service via Getty Images / Getty Images)

     UP NEXT:

    -Looking for more business and marketmoving headlines? Find more from FOX Business here.

    -Want live updates? Get the FOX Business app here.

    -Did someone forward you this email? Subscribe to additional newsletters from Fox News and FOX Business here.



    Source link