(KRON) – Winner: Stocks creep up as earnings roll in
Stocks were mixed Monday as investors returned from a holiday weekend and geared up for another busy week of corporate earnings results.
The 10-year Treasury rate notched a fresh three-year high, at one point moving above 2.87%.
Natural gas prices surged to their highest level in more than 13 years as Russia’s war on Ukraine causes a global energy crunch, and as forecasts called for cooler spring temperatures.
Twitter is trying to block Elon Musk with a “poison pill.”
Tesla will no longer include a $275 mobile charger with new vehicle purchases.
Two minors were killed after shots were fired at a large party hosted at an Airbnb rental in Pittsburgh. At least eight others were being treated for gunshot wounds.
Taco Bell is bringing back the Mexican Pizza after a roughly two-year hiatus during the pandemic.
Loser: Inflation comes for the Big Mac
The average price of a Big Mac has risen to $5.94.
Rising prices are hitting Americans where it hurts: the drive-thru.
Fast food menu prices are up 7.2% year-over-year. That’s the biggest jump since 1981.
Prices at full-service restaurants are even higher — they’ve gone up 8%.
Ballooning prices are driven by the rising cost of food and labor.
The Big Mac Index — which has been measuring the price of a Big Mac since the year the Oprah Winfrey Show debuted — shows that the price of a Big Mac nationwide rose 7% from 2020 to 2021.
Big Mac prices have risen by a whopping 40% in the past 10 years.
Austin, Texas —where the minimum wage is $7.25 an hour — is home to the cheapest Big Mac at $3.75.
Seattle, Washington — where the minimum wage is $17.27 an hour — has the priciest Big Mac we found, at $6.39.
A Big Mac in San Francisco, where the minimum wage is $16.32 an hour, is $5.79
The average price of a Big Mac in the 1970s was 65 cents. In the 2000s, it was $2.39.
Loser: Netflix Reports Earnings This Week
While we wait for the Ozarks and Stranger Things, brace for another tricky quarter for Netflix.
Netflix stock, once a darling, has tumbled about 33% since the streaming giant reported results in January.
The primary issue three months ago was a disappointing outlook for Netflix’s subscriber growth.
One factor that may not be expected is that Netflix has suspended operations in Russia, where it had about 1 million subscribers.
The content like the Queens Gambit and Bridgerton on Netflix has been exceptional over the past couple of years.
Spring is a tough season to add subscribers as we get into outdoor activities.
Growth could also be reduced by recent price increases in the U.S and the U.K.
A recent survey of Netflix customers found interest in the company adding an advertising-supported tier.