Macy's shutters stores, Apple's pivot, Google's Gemini fail and Tesla's new model
The S&P 500 and the Nasdaq Composite notched fresh record highs
Fisher Investments Chairman and founder Ken Fisher argues it is important for investors to keep an eye on global inflation numbers during an appearance on ‘Varney & Co.’
— S&P 500, Nasdaq hit records; Bitcoin nearing previous all-time high
— Macy's closing over 100 stores across the U.S.
— Google takes hit after Gemini blowback
— Elon Musk turns on OpenAI but teases new, delayed Tesla
— Apple dumps electric car plans, surprising many
— Inflation remains hot ahead of Fed Chair Powell's testimony next week
— Regional banks rocked after NYCB disclosure
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STOCKS AND CRYPTO WRAP WINNING WEEK: Investors ended the week with the S&P 500 and Nasdaq Composite sitting at record highs, helping kickoff the month of March. For Bitcoin, it topped $63,000, with gains of over 23% for the past seven days, as tracked by Dow Jones Market Data Group. The all-time high for the world's largest cryptocurrency by market value is $67,353.
MACY'S SHRINKING: American retailer Macy's plans to be much smaller after it shutters 150 locations…continue reading here.
VIDEO: Where does Macy's fit in the U.S. retail pie?
GOOGLE'S MISSTEP: The search giant's AI tool, Gemini, was shown to have a bias against White people. CEO Sundar Pichai finally addressed the situation, but some wonder if this is the company's Bud Light moment…continue reading here. Shares of parent company Alphabet lost 5% this week.
GOOGLE PARENT ALPHABET: -5% 1-WEEK
Google parent Alphabet ( )
FRENEMIES?: Elon Musk is suing Sam Altman's Open AI, claiming it's lost its way under his direction…continue reading here.
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Elon Musk and Sam Altman (Eric Lee/Bloomberg via Getty Images (AP Photo/Jae C. Hong) / Getty Images)
As for Musk's Tesla, the long-delayed new model is coming soon, he promised…continue reading here.
VIDEO: How far ahead is Elon Musk in the electric vehicle race?
The Tesla Roadster, the world's first highway-capable all-electric car available in the U.S., is displayed on its production debut in the Tesla flagship store May 1, 2008, in Los Angeles. (Vince Bucci/Getty Images / Getty Images)
APPLE'S ABOUT FACE: Apple scrapped plans to develop an electric vehicle, good nighting what was known as "Project Titan," per reports…continue reading here.
VIDEO: Here's why Apple is dropping out of the EV business.
REGIONAL BANKS ROCKED: Ahead of the March anniversary of the collapse of Silicon Valley Bank, NYCB is warning investors it's on shaky ground, sending chills through the regional banking industry…continue reading here.
VIDEO: Is another regional bank on the verge of collapse?
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INFLATION STICKS AROUND: The Federal Reserve's favorite data point on inflation didn't bring enough relief for policymakers and is making the timing for future rate cuts even murkier…continue reading here.
VIDEO: Former Federal Reserve President James Bullard gives his take on inflation.
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