Here are the most important information investors need to start their trading day:
1. What is the Fed?
Stocks ended higher on Thursday after Atlanta Fed President Raphael Bostic made a rather dovish comment about what investors should expect from further rate hikes. He said while some Fed officials think a half-percentage-point hike should be in the cards, he thinks a quarter-point hike would be doable. After the close, however, Fed Governor Christopher Waller stepped in with what were perceived as more hawkish comments, saying the central bank could end up at a higher terminal rate if inflation data remained hot. (Weird side note: Waller couldn’t actually deliver his prepared remarks on Thursday. The event was canceled after a Zoom meeting attendee showed explicit pornographic images.) Follow live market updates.
2. ESPN aims to be a hub for live sports
mike windle | ESP | Getty Images
ESPN, the self-proclaimed “world leader in sports”, is working on a way to get sports fans to visit its site and app to find out where live sporting events are being streamed or streamed, even if they are not broadcast. on ESPN. The sports network, which belongs to disneyheld talks with major leagues and rival media about setting up what would effectively be a TV guide to help fans find local or national matches in an increasingly fractured and confusing environment, reports CNBC’s Alex Sherman. ESPN’s exploration of the idea comes as Disney CEO Bob Iger has transformed the sports operation into a stand-alone unit within the company’s corporate structure. This puts a lot of scrutiny and pressure on ESPN President Jimmy Pitaro – and it can pay off big time as it’s clearer than ever how important ESPN is to Disney’s immediate future.
3. Charging in progress
Ford CEO Jim Farley pats a Ford F-150 Lightning truck before announcing at a press conference that Ford Motor Company will partner with the world’s largest battery company, a China-based company called Contemporary Amperex Technology, to create an electric vehicle battery factory. in Marshall, Michigan on February 13, 2023 in Romulus, Michigan.
Bill Pugliano | Getty Images News | Getty Images
Ford now has a date for when he will restart production of its F-150 Lightning electric pickup: March 13. This will mark more than a month since the vehicle fire that caused production to stop. Ford said the shutdown gives its battery supplier, SK On, more time to build and deliver batteries to the Michigan plant that makes the electric pickup trucks. The company faces the lightning bolt as it tries to execute a turnaround after a tough 2022. Last month, Ford CEO Jim Farley blamed “problems with execution” for the company’s lackluster fourth-quarter results.
4. The crypto bank in big trouble
Pavlo Gonchar | Light flare | Getty Images
The FTX contagion continues. Silvergate Capital’s stock fell more than 57% on Thursday after the retarded crypto bank its annual financial report and warned that it might not survive. The bank said it was trying to contain the impact on the “sale of additional investment securities beyond what was previously expected.” silver gate also faces heat from investigators. The Justice Department said last month it was investigating the bank’s dealings with the failed crypto exchange of since-indicted Sam Bankman-Fried, FTX and its sister company Alameda Research.
5. Snow business like show business
The Hollywood sign stands in front of snow-capped mountains after another winter storm hit Southern California on March 1, 2023 in Los Angeles, California.
mario tama | Getty Images
This photo is real. Even La-La Land is really getting a taste of winter this year. Los Angeles County is one of 13 counties covered by an emergency declaration this week from Governor Gavin Newsom in California, the land of sun itself, was pounded by strangely intense weather. Heavy snowfall has closed highways, left people stranded in their homes and forced the closure of national parks. Check out stunning images of the wild southern california winter.
– CNBC’s Hakyung Kim, Alex Sherman, Michael Wayland, Tanaya Macheel, Emma Newburger and Adam Jeffery contributed to this report.
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