Our PureVest Weekly Roundup looked at the latest interest rate hike from the Federal Reserve. They also signaled that the end of the rate increase cycle is near. The biggest tech companies in the world have been laying off thousands of employees to combat any looming economic uncertainty. The CEO of social media company TikTok testified in front of Congress on Thursday; the debate on whether the company with ties to China should be banned in the U.S. has been going on for the last few years. Ford plans to be profitable on their EVs by 2026 and is building a $5.6B plant in Tennessee that will produce 500,000 electric vehicles annually. Home sales rose for a third straight month; Netflix ad-supported tier surpassed 1 million subscribers. We wrapped it up by looking at the 11 S&P 500 sectors and how you can easily pick “an area” of the market you like and invest directly into it. Enjoy the light reading, and have a great weekend.
Markets & Economy:
Fed hikes rates by a quarter percentage point, indicates increases are near an end
source:www.cnbc.com
These tech giants are still making money, but layoffs are coming hard and fast
source:www.cnbc.com
TikTok CEO Shou Chew testifies before Congress
source:www.cnn.com
Ford plans to build 500,000 EVs annually at its $5.6 billion Tennessee campus
source:www.cnbc.com
Interest rates have skyrocketed. So why hasn’t the rate on your savings account budged?
source:www.cbc.com
Netflix’s ad-supported tier is reportedly gathering momentum in the US
source:www.theverge.com
U.S. new home sales post third straight monthly gain in February
source:www.reuters.com
Education:
What are the S&P Sectors?
source:www.corporatefinanceinstitute.com
How to invest in a specific S&P Sector
source:www.sectorspdr.com