Five Point Friday
Inflation – Inflation has hit a nearly four decades high of 9.1% in the US with pressure mounting on the US Federal Reserve to increase interest rates at a faster rate in order to slow the rapid increase in prices.
Unemployment – The Australian unemployment rate has sunk to 3.5 % which is the lowest since August 1974., and which is also the eighth consecutive rise in unemployment. As reported by the OECD, Australia now has the second most severe labour shortages in the developed world.
Twitter – Twitter is suing Elon Musk to complete the acquisition for a reported fee of $44 ($65) billion with Musk citing the number of fake accounts as a reason for his termination of the agreement.
BNPL – The Buy-now Pay-later sector is facing pressure with the interest rates rising. Sezzle (ASX:SZL) has fallen about 59% with ZIP (ASX:ZIP) down almost 90% from it’s highs in February 2021.
US Falls – The large US Indexes continue to fall, the NASDAQ and the DOW have both fallen about 2.2% and the S&P 500 has fallen about 2.5%
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