What regulators came up with when they met about market volatility
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Treasury Secretary Janet Yellen and others say financial markets were able to handle the strain of volatile trading of GameStop and other stocks. Plus, grim numbers for the January jobs report. And, a preview of what you'll see from Super Bowl ads if you tune into the big game on Sunday.
Segments From this episode
A January jobs gain of 49,000 is at least a step in the right direction, but the story hasn't changed: COVID and efforts to contain it are hitting the economy hard
Christopher Low, chief economist at FHN Financial, said it's clear the economy "hit a wall late last year," and that's continued into the beginning of 2021. And although the Department of Labor reported a sizeable drop in the unemployment rate, down to 6.3%, that's not the full story, Low said. "Unfortunately, 400,000 people became discouraged and stopped looking for work. So if you're not looking, you don't count as unemployed. But if those people were included in the number, it would have been 6.6%, which is still much too high."
Top financial regulators, Yellen believe the market's "core infrastructure was resilient" during high-volatility trading of GameStop, other stocks
Marketplace's Nancy Marshall-Genzer has more.
Super Bowl regular Budweiser will skip the big day. Companies like Robinhood and DoorDash want to boost brand awareness.