Newsletter Jan 30, 2023

3 things you must know

Inflation is cooling but Americans are still feeling the effects
Inflation has been cooling in recent months, but it will likely be a while before Americans start feeling the effects when it comes to their everyday spending. Consumer prices fell 0.1% in December, marking the biggest monthly drop in almost three years, and shipping costs have started to drop, but the effects will take time before they drop down to consumers. The rate of increase has indeed slowed in several areas and prices on some goods are starting to go down, but others are still experiencing increases.
WHICH SEGMENTS OF THE ECONOMY ARE STRUGGLING?

Wall Street closely watches January FOMC meeting for clues
After rallying for a couple of weeks in hopes of a soft landing, Wall Street will get another chance to find out the nation's monetary policy direction later this week. On Wednesday, the Federal Open Market Operations Committee (FOMC) will hold another regular meeting to set the pace of interest rate hikes for the next five weeks to bring inflation closer to its target as investors take note.
HOW THE FED'S FUTURE MOVES WILL IMPACT MARKETS

PayPal pins cyberattack on customer password problems
A letter has been sent to thousand of PayPal account holders, suggesting that 35,000 client accounts were compromised in a credential-stuffing attack. The fintech giant said widespread password reuse among its customers was to blame, claiming to have uncovered no proof of a security flaw in its systems or that the user login information was stolen directly from PayPal.
CUSTOMERS VICTIMS OF 'CREDENTIAL-STUFFING ATTACK'

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Markets

DJIA	33,978.08	0.08%
S&P 500	4,070.56	0.25%
Nasdaq Composite	11,621.71	0.95%
Japan: Nikkei 225	27,367.91	-0.05%
UK: FTSE 100	7,765.15	0.05%
Crude Oil Futures	79.61	-0.09%
Gold Futures	1,928.30	-0.06%
Yen	129.49	-0.27%
Euro	1.09	0.06%
* As of market close

Biden, McCarthy to meet about debt ceiling

House Speaker Kevin McCarthy on Sunday said he will meet with President Joe Biden on Wednesday to discuss raising the federal debt ceiling while controlling government spending, adding that Republicans will not allow a default. The Treasury recently activated extraordinary cash management measures to avoid breaching the $31.4 trillion limit on federal debt imposed by Congress. But without an increase by June, the Treasury said it may run short of cash to pay the government's bills.

WHAT LENGTHS WILL REPUBLICANS TAKE TO STOP SPENDING?

Boeing's iconic 747 set to fly off into sunset

Boeing's 747, the original and arguably most aesthetic "Jumbo Jet", revolutionized air travel only to see its more than five-decade reign as "Queen of the Skies" ended by more efficient twin-jet planes. The last commercial Boeing jumbo will be delivered to Atlas Air in the surviving freighter version on Tuesday, 53 years after the 747's recognizable humped silhouette became a global leader as a Pan Am passenger jet.

HOW THE 747 TRANSFORMED AIR TRAVEL FOR HALF-CENTURY

Eagles, Chiefs advance to Super Bowl 57

The matchup for Super Bowl 57 was set Sunday after a pair of exciting NFL conference championship games. The Kansas City Chiefs beat the Cincinnati Bengals 23-20 on a last-second field goal, while the Philadelphia Eagles handled the San Francisco 49ers 31-7. The Chiefs and Eagles will meet on Feb. 12 at State Farm Stadium in Glendale, Arizona. Philadelphia has been installed as an early 2.5-point favorite.

RIHANNA TO RETURN TO STAGE FOR SUPER BOWL HALFTIME

Repeat performers

What is the only group to perform in five Super Bowl halftime shows?

Friday's answer: The first major cyber attack on the internet was perpetrated by Cornell graduate student Robert Morris. The â€œMorris Wormâ€ struck in 1988, the year before the World Wide Web debuted.

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