The Week Unpeeled
The US economy continued to show signs of strength with the monthly employment report last week as non-farm payroll rose 295,000 in February, marking the best 12-month run in 10 years; the unemployment rate fell to 5.5 percent. All good in large part (wages are still weak, however), but analysis focused on the tough predicament for the Fed amid speculation that the zero-rate policy will soon give way to higher rates. Stay tuned for volatile markets, no doubt.
- Hillary Clinton’s use of personal email for State Department business continues to make for prickly headlines (“Stuck in Scandal Lane,” WSJ Peggy Noonan, Declarations column), heating up a practice that is counter to government policy;
- Apple became part of the Dow Jones Industrial Average, the largest company in the world now by market value; Apple also saw its smartphone sales top Samsung’s, a first in the last four years, but its mobile pay system hit by fraud;
- The Dow itself, meanwhile, staged one of its largest sell-offs last week to end Friday at 17,856; earlier in the week Nasdaq closed over 5,000, the first time in 15 years;
- Former NBC News chief Andy Lack is back at the network amid a C-suite shake up;
- Goldman Sachs is planning to launch its own messaging service this summer called Symphony for Wall Street communications and social networking;
- Google is planning a wireless service;
- Israeli Prime Minister Netanyahu comes down hard at the UN calling the Obama Iran plan a “bad deal”; and
- Bieber turned 21 and Kim turned blonde.