Inflation isn’t transitory, despite what Fed says: Ryan Payne
Payne Capital Management President Ryan Payne on the latest market and economic trends.
Fresh inflation data will have investors on pins and needles in the coming week, after stocks ended Friday by notching a fifth day of losses and producer prices surging 8.3% annually — the most on record. Markets were also pressured after Apple was hit with an injunction related to its legal battle with Fortnite creator Epic Games.
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The maker of iPhones and Macs will be in the news again this week, along with Amazon, Oracle and Zoom.
FOX Business takes a look at the news likely to move financial markets in the coming days.
Kicking off the week will be earnings from Oracle after the bell and the federal budget.
Vaccine mandates are also set to go into effect for all indoor activities in New York City and for State Street bank and Under Armour employees returning to the office. Meanwhile, Carnival Cruise Line will also require masks indoors and vaccinated guests to be tested for COVID-19 within two days of sailings.
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In the world of politics, U.S. Secretary of State Antony Blinken will testify at least twice before Congress on the Biden administration's withdrawal of U.S. forces from Afghanistan. The first hearing will take place on Monday before the House Foreign Affairs Committee while the second will take place on Tuesday before the Senate Foreign Relations Committee.
A group of 15 Democratic members of the House of Representatives recently sent a letter to Blinken and Homeland Security Secretary Alejandro Mayorkas seeking additional information on how Americans, permanent U.S. residents and other vulnerable individuals who remain in Afghanistan will be evacuated.