7/6/22

The Fed’s future includes more rate hikes. And Amazon Prime members just scored some free food delivery. We got our hands on minutes from the June meeting of the Federal Reserve. They said expect another 50 to 75 basis point hike this month.

The Dow finished the day up 69 points to close at 31,037
The Nasdaq gained 39 today
The S&P was up 13.

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Fed members said they “recognized the possibility that an even more restrictive stance could be appropriate if elevated pressures were to persist.” They said they’ll keep raising that benchmark rate as long as they have to until inflations gets closer to their 2% long-run goal.

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New info from the Department of Labor shows the job market is still red hot, even with fears of a recession. Job openings are high and layoffs are near record lows – both conditions that are favorable to workers. Economists wonder how long this “Great Resignation” will continue.

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If you’re an Amazon Prime member, you just got Grubhub-plus free for a year. That means free food deliveries on orders over 12-bucks. That $10 / month service is free to Prime members who sign up. Amazon is taking a 2% stake in Grubhub as part of the deal.

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From Los Angeles, I’m Brian Martin with your BEONDTV After the Bell report.

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