We're on track for a soft economic landing, but it still feels like the economy stinks
Jun 06, 2024 - businessinsider.com
The US economy is finally on track for a soft landing, according to Business Insider's Madison Hoff. Despite fears of a recession and stagflation, recent data showing inflation and the labor market cooling have given hope that a soft landing is in the cards. However, not everyone is convinced, with French bank SocGen sticking to its recession prediction and UBS seeing red flags like retail investors pushing into the market as a sign of a stock market bubble.
In other news, Nvidia has joined the $3 trillion club, becoming the second-most-valuable company in the world. Apple is expected to announce a partnership with OpenAI at its WWDC event on Monday. Meanwhile, a new NBA streaming deal could bring changes to programming on Comcast to accommodate the new $2.5 billion a year deal.
Key takeaways:
The US economy is finally on track for a soft landing, with recent data showing inflation and the labor market cooling.
Despite this, many Americans still feel the economy is struggling due to a slowing job market and inflation still being above pre-pandemic levels.
Nvidia has joined the $3 trillion club, becoming the second-most-valuable company in the world.
Apple is expected to announce a partnership with OpenAI at its WWDC event on Monday.
