(KRON) – Winner: Stocks inch up as investors eye earnings
Stocks inched up as investors monitored a series of closely-watched earnings reports and further digested a hot print on inflation in the U.S.
JPMorgan Chase — the largest U.S. bank by assets — along with Delta Air Lines and Bed, Bath & Beyond.
California is pushing for 32-hour workweek at larger companies as part of a pandemic-driven shift.
Amazon will account for nearly 40% of total US retail ecommerce sales in 2022.
Panera Bread is testing automated coffee.
Miso Robotics already has partnerships with Chipotle Mexican Grill, White Castle and Inspire Brands.
Fortnite maker Epic Games raised $2 billion from Sony and the family behind Lego Group at a valuation of $31.5 billion.
U.S. mortgage bankers expect overall mortgage originations to decline 35.5% per year in 2022.
Doughnut deflation: Krispy Kreme sets doughnut prices to the average nationwide gas price of $4.11.
Loser: Consumer prices rose 8.5% in March
The real Easter egg hunt this year might be finding affordable eggs.
The CPI found eggs costs were 11.2% higher.
Prices that consumers pay for everyday items surged in March. Inflation is at its highest rate since the early days of the Reagan administration.
U.S. households are spending an extra $327 a month due to inflation.
The consumer price index, which measures a wide-range of goods and services, jumped 8.5% from a year ago.
Excluding food and energy, the CPI increased 6.5%.
Costs remind me of stagflation days of the late 1970s and early ’80s.
Real earnings rose 5.6% from a year ago, but still aren’t keeping pace with the cost of living.
Food rose 8.8% over the year, as prices for rice, ground beef, citrus fruits and fresh vegetables all posted gains.
Energy prices like oil were up 11% and 32%, respectively, as gasoline prices popped 18.3% for the month.
Used car and truck prices declined 3.8% for the month, though they are still up 35.3% on the year.
Airline fares jumped by 10.7% in the month and were up 23.6% from a year ago.
Shelter costs, which make up about one-third of the CPI, increased a blistering 5%, the highest since May 1991.
Economists are sure prices will fall, but the speed of the decline is what matters.
Winner: TikTok Revenue Set To Surpass Twitter, Snap Combined
Video-sharing app TikTok’s advertisement revenue is likely to triple in 2022 to over $11 billion,.
TikTok’s revenue will likely surpass the combined sales of its rivals, Twitter and Snap.
Nearly $6 billion, or more than half, of 2021’s ad revenue will likely come from the U.S., despite regulatory concerns over user data from the U.S. passing on to China.
ByteDance’s TikTok is a leading social media app with over 1 billion active users.
Twitter will likely generate $5.58 billion and Snapchat $4.86 billion in advertising revenue for 2022.
Instagram still draws the most engagement among teens, with 89% saying they use the service each month.
Some 84% of teens say they use Snap every month, while 80% say they use TikTok.
But just 31% of teens reported using Facebook each month.
Meta is keenly aware of the threat TikTok poses to its bottom line. Meta head Mark Zuckerberg has called out the platform numerous times in public statements, painting it as a threat since its parent company is based in China.