Morning Brew Daily Big Banks Fuel Stock Market Rally & The FTC's Next Target... John Deere
89 snips
Jan 16, 2025 Big banks are driving a stock market surge, thanks to impressive earnings and positive inflation news. There's a significant shift as the FDA bans a controversial red dye linked to cancer. John Deere faces scrutiny for making machine repairs difficult for farmers. New York experiences a drop in traffic congestion, while the Getty Museum's design saves it from wildfires. Cultural insights emerge from Robbie Williams’ biopic, and discussions about surveillance in workplaces shine a light on modern work life.
AI Snips
Chapters
Transcript
Episode notes
Market Rally Drivers
- Stocks rallied due to positive inflation data and strong bank earnings.
- Core inflation, excluding volatile food and energy prices, fell, boosting market optimism.
JPMorgan's Record Profits
- JPMorgan Chase achieved record profits, exceeding $50 billion for the first time in U.S. banking history.
- This signifies the robust financial health of American banks post-pandemic.
Red Dye Ban
- The FDA is banning Red Dye No. 3 due to cancer concerns in lab rats, despite its long use in food.
- This decision follows a similar ban in cosmetics 30 years ago and might impact food recipes and colors.