(KRON) – Winner: Stock advance as investors await Fed

Stocks are slightly higher after investors appraised the next moves by the Federal Reserve and a fresh batch of quarterly earnings results.

The benchmark 10-year Treasury yield topped 3%, or its highest level since December 2018.

The Securities and Exchange Commission nearly doubled crypto unit staff to crack down on abuses in the booming market.

Crypto curiosity remains strong. Fidelity Investments is launching a bitcoin option for its 401(k) plans, but investors may still want to think long and hard about whether it’s for them.

Teachers are quitting in record numbers and starting 6-figure businesses as virtual assistants, coaches, and real-estate agents.

Burger King revenue climbed 15%, and Krispy Kreme released new Cinnamon Milk glazed donuts.

Loser: Credit Cards, Car Loans & Mortgages Are Getting More Expensive

The Federal Reserve launched an aggressive campaign of interest rate hikes to curb soaring inflation.

Tomorrow the Fed is putting rate increases on steroids by bumping rates up 50 basis points, and consumers will have to dig even deeper into their wallets to pay off loans.

The move will drive rates higher on everything from credit cards, car loans and adjustable rate mortgages and HELOCs.

Your debt is going to get a lot more expensive in a hurry. There’s been a raise of 2.25 percentage points in rate increases this year, the most since 1994.

On the bright side, consumers, especially seniors, will finally see bank deposit rates rise from paltry levels, especially for online savings accounts and CDs.

For a $5,000 credit card balance, a half-point increase probably will add $193 in total interest on a minimum monthly payment.

A total of 2 percentage points in rate increases the rest of the year would add $800 in interest.

An ARM whose rate rises from 3.85% to 5.85% the rest of this year would increase the monthly payment on a $600,000 adjustable rate mortgage by $720.

Winner: Can ‘Top Gun’ and ‘Avatar’ save the movie theater industry?

The US theatrical industry was devastated during the last two years by the coronavirus pandemic.

The theatrical industry isn’t out of the woods yet — the box office is still down from pre-pandemic levels and will take a while to fully recover.

“Top Gun: Maverick” and “Avatar: The Way of Water” will be opening this year.

Warner Brothers are Disney are moving away from releasing movies like “Black Widow“ on their streaming services the same day as in movie theatres.

“Avatar: The Way of Water,” is a potential game-changer for the industry.

Paramount’s long-delayed “Top Gun: Maverick,” which arrives in theaters on May 27, will bring out older audiences — the 45-and-older crowd that has been slow to return to theaters.

Estimates are for it to bring between $95 million to $135 million for its opening weekend.

Big movie stars sell tickets in theatres. Warner Bros. brought Dwayne Johnson, one of the world’s biggest movie stars, to present his upcoming DC movies, “League of Super Pets” and “Black Adam.”

Will Netflix release shows like “Stranger Things” in movie theaters?