The people, companies and trends shaping the global economy.
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Wall Street got a degree of relief as relatively tame inflation data spurred bigger bets on Federal Reserve rate cuts, with bond yields falling. While most stocks gained, weakness in tech giants kept a lid on the market.
Treasury two-year yields dropped toward their lowest since 2022. Money markets priced in higher chances the Fed will slash rates more than twice this year. About 370 shares in the S&P 500 rose, but the gauge was little changed at the end of its worst week since November. A gauge of megacaps lost 1.1%. Amazon.com Inc. saw its longest slide in almost 20 years. The Russell 2000 index of small firms climbed 1.2%. Bitcoin jumped.
The consumer price index rose 0.2% in January, the smallest gain since July and restrained by lower energy costs. While services costs picked up last month, prices of core goods remained stable. The core CPI rose from a year ago by the least since 2021. The overall gauge also eased on an annual basis.
Today's show features:
- Dr. Adam Posen, President of the Peterson Institute for International Economics, on the global economic outlook and the path for US monetary policy
- Christina Stembel, Founder & CEO of Farmgirl Flowers, on the importance of Valentine’s Day to her company’s annual sales
- Bloomberg News Banking Reporter Todd Gillespie on Kathy Ruemmler leaving her position as the top lawyer at Goldman Sachs following a monthslong saga over her previous association with Jeffrey Epstein
- Bloomberg Tech Co-Host Ed Ludlow on SpaceX considering a dual-class share structure in its planned IPO
- Bloomberg News Executive Editor for Crypto, Payments and Digital Finance stacy-marie ishmael on Coinbase’s post-earnings surge and the broader crypto trade
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