Spring Break Expense & Future Tellers🔮
Read Time: 5 minutes
GM Friends & Investors,
According to Hopper, a travel app, airfare prices have increased by 20% compared to last year and are now 5% higher than pre-pandemic levels.
Frontier Airlines (ULCC -2.33%) has even reported that the demand for spring break travel is at an all-time high.
In addition to high demand, airlines are facing challenges such as late aircraft deliveries and pilot shortages, making it difficult for them to expand their services and keep prices low.
Highlights:
🪄NVDA Predicts the Future
🏦New World Bank Leader
❄️The Harsh Crypto Winter
S&P 500
(-2.76%)
Nvidia Leads the Charge into the Future
Nvidia (NVDA +14.02%) experienced a meteoric rise on Thursday following its impressive earnings report the day before. Not only did the chip-making company exceed expectations for its previous quarter, but it also demonstrated significant growth.
Analysts responded positively to Nvidia's results and future potential, citing the company's dominance in artificial intelligence (AI) technology. In fact, Nvidia CEO Jensen Huang referred to the potential of AI as an "iPhone moment" - a clear indication of the company's confidence in its trajectory.
Sharing is Caring at Google
Google (GOOGL -0.83%) has called on its employees to share desks as it transitions to a desk-sharing workspace in its five largest locations. According to an internal document, most Googlers will now be sharing their desks with one other colleague.
This move is part of a broader strategy to reduce costs as the company downsizes its offices. By sharing desks, Google hopes to optimize its use of space and create a more collaborative work environment.
Economy
Minute by Minute
Time is ticking in the Federal Reserve's fight against inflation, and investors are growing impatient with higher prices.
According to the Fed's meeting minutes, nearly all Fed members backed a 25 basis point interest rate hike, marking the 8th rate increase since March 2022.
Although there are signs that inflation is cooling down, the minutes showed that there isn't enough evidence to halt interest rate hikes entirely. Fed Chairman Jerome Powell said, "Inflation data received over the past three months show a welcome reduction in the monthly pace of increases.
And while recent developments are encouraging, we will need substantially more evidence to be confident that inflation is on a sustained downward path."
Around the World
A New Leader for the World Bank
The U.S. has put forward a candidate to lead the World Bank, and it's none other than Ajay Banga, former CEO of Mastercard.
For those who may not be familiar, the World Bank is an international organization made up of 189 member countries. It works to fight poverty around the world by promoting sustainable solutions.
President Biden has praised Banga for his unique perspective on the challenges and opportunities faced by developing countries. Being raised in India, he brings a wealth of knowledge to the table and is poised to help the World Bank achieve its ambitious agenda of reducing poverty and expanding prosperity.
Stay tuned to see how this nomination progresses and what changes may come to the World Bank under Banga's leadership.
Crypto
Recently released figures by the Bank for International Settlements (BIS) present a grim reality for retail investors who suffered the most during the crypto winter.
The crypto market plunged by a staggering $450 billion in May 2022 following Terra's collapse, and the situation was exacerbated after FTX's bankruptcy in November 2022, resulting in an additional loss of $200 billion.
However, the worst affected were the investors hailing from emerging market economies, namely Brazil, India, Pakistan, Thailand, and Turkey.
Real Estate
A Dip in the U.S. Housing Market
The U.S. housing market is experiencing a significant decrease in value as the pandemic-fueled boom comes to an end. According to Redfin, the market has experienced a drop in value of $2.3 trillion, the most significant drop since 2008.
Areas like San Francisco and New York are particularly hard hit by this slump. It remains to be seen how this will affect the broader economy and what measures will be taken to mitigate the impact.
Thank you for reading! I’ll see you next Saturday!
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