Stocks Rally on Inflation Hopes But Recession Fears Loom as FTX Collapses and Job Losses Mount
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The stock market had its best week in 2023 due to optimism about slowing inflation and smaller interest rate hikes. This boosted many companies' earnings reports.
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However, recession signals remain, like rising unemployment rates and the threat of a government shutdown. Holiday spending may also decline.
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Cryptocurrency exchange FTX filed for bankruptcy as its founder was convicted of fraud. Several drugmakers and insurers reported strong profits.
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Billionaire investor John Paul DeJoria shared tips like diversifying investments and assessing a company’s resilience during hard times.
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Legal fees made up almost half of expenses for the company planning to merge with Trump's Truth Social over 2 years.