Money Masters' Market Pulse: The Week 15 Recap

Navigating the Financial Waters: This Week's Essential News

April 12, 2024

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Dear Money Master,

📰 This is your week 15 round-up by Money Masters

Welcome to our weekly round-up! This week, we're focusing on the crucial topic of inflation. Support us by clicking on our sponsors' ads. 👆

🌍 Economics:

  • March 2024 Inflation Rises to 3.5%, Driven by Higher Housing and Gasoline Costs: Driven by sustained high costs in housing and rising gasoline prices, signaling persistent inflationary pressures. Read More

  • UK Economy Shows Minimal Growth in February 2024: UK GDP edged up by 0.1% in February, led by gains in production output, pointing to a slow recovery from a recent recession. Read More

  • Crude Oil Prices Decline Amid Inflation Concerns: Crude oil prices dropped, with WTI closing at $85.02 a barrel, as inflation worries and geopolitical risks influenced market dynamics. Read More

💼 Finance:

  • Costco Sells Up to $200 Million in Gold Bars Monthly, Says Wells Fargo: Capitalizing on aggressive pricing and high consumer trust. Read More

  • Globe Life Stock Plummets 50% Following Fraud Accusations by Short-Seller: Shares of Globe Life plummeted by 53% after short-seller Fuzzy Panda Research accused the insurer of widespread fraud. Read More

  • BlackRock's AUM Hits Record $10.5 Trillion, Profits Surge by 36%: 

    Profit driven by a global equity market rebound. Read More

💻 Technology:

  • Apple to Revamp Entire Mac Lineup with AI-Enhanced M4 Chips: Introducing a new series of AI-enhanced M4 chips to rejuvenate its computer sales. Read More

  • Microsoft to Introduce New AI Features for Windows and Cloud in May: Highlighting AI integration across its products. Read More

💹 Earnings

  • Delta Air Lines Returns to Profitability, Expects Strong Travel Demand: Delta Air Lines reported a return to profitability with expectations of strong travel demand. Read More

  • JPMorgan Chase Beats Earnings Expectations with Strong Q1 Results: Due to robust trading revenue and improved credit costs. Read More

  • TSMC Records Fastest Revenue Growth Since 2022 Amid AI Chip Demand: Driven by strong demand for AI chips, with a 34.3% increase in March. Read More

🎈 Inflation Highlight:

  • March 2024 Inflation Update: The U.S. consumer price index rose by 3.5% annually in March 2024, marking an increase from February's 3.2% rate.

  • Historical Context: This rate is a significant decrease from the pandemic peak of 9.1% in 2022, the highest since 1981, yet it still exceeds the long-term target of 2% set by policymakers.

  • Wages and Purchasing Power: Real hourly earnings rose by 0.6% from March 2023 to March 2024, recovering after a two-year decline during the pandemic, which had been exacerbated by high inflation.

  • Fuel Prices: Gasoline prices rose 1.7% from February to March 2024, adjusted seasonally. The average U.S. pump price was $3.52 a gallon on April 1, up from $3.35 on March 4.

  • Factors Influencing Gas Prices: The increase in gasoline prices is largely due to higher global oil demand and controlled output from major oil producers. Tensions in the Middle East have also contributed.

  • Economic Insight: Supply-and-demand imbalances, exacerbated by events like the COVID-19 pandemic, have led to significant shifts in consumption patterns and wage dynamics, influencing both goods and service inflation.

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To your financial empowerment, The Money Masters Team

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