Many Americans across the U.S. may be enjoying lower gas prices, as signs point to a more normal economy in 2024 after several years of difficult headwinds.
Why it matters: Gas prices not only play a big role in consumers' spending budgets but can also impact how positively or negatively they view the economy.
Federal Reserve officials said interest rates wouldn't rise much further—if at all—and suggested any adjustments would likely be a rate cut, according to minutes released on Wednesday from its latest policy meeting.
Why it matters: The minutes offer the most in-depth look at policymakers' discussions during a Dec. 12-13 meeting, where fresh economic projections showed most officials saw the central bank cutting rates at least three times in 2024.
Ford is recalling some 113,000 F-150 vehicles over an increased crash risk, per a notice from the National Highway Traffic Safety Administration.
Driving the news: The impacted models are 2021-2023 F-150 vehicles equipped with the Trailer Tow Max Duty package and a 9.75-inch heavy-duty axle with a 3/4 float axle design.
Health insurance behemoth Cigna is reportedly in advanced talks to sell its Medicare Advantage business to Health Care Service Corp. for as much as $4 billion.
Why it matters: The move marks a reversal of the company's expansion into the senior government health insurance sector and follows a failed December 2023 attempt to negotiate an acquisition of rival Humana.
The activist hedge funds within Disney's stock are fighting each other. Trian, ValueAct, Ancora and Blackwells — it's a fight within a fight.
Why it matters: A lot of activists in a stock is typically a bad thing for companies. In Disney's case, the hedge fund free-for-all is a good thing for its defense.
When Matt Leeds stepped down as a partner with L Catterton at the end of 2022, his bet was that there's still white space in the crowd of consumer-focused private equity.
Driving the news: Investors agreed, with Forward Consumer Partners raising $425 million for its debut fund after only six months in market.
Venture firm O'Reilly AlphaTech Ventures has rebranded to INDIE, and is raising up to $50 million for a fund that will focus exclusively on backing bootstrapped companies.
Why it matters: The firm launched an experiment with this investing approach in 2015, but then wound it down amid limited partner discontent.
The share of all-cash buyers in the Manhattan real estate market hit a new high in the fourth quarter of 2023, according to a report out Wednesday from appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.
Why it matters: It shows that even markets long associated with cash buyers aren't immune to the impact of sky-high mortgage rates, said Jonathan Miller, CEO of Miller Samuel, who's been tracking the data since 2014.
Stocks tend to outperform in January — in a well-known market mystery that still defies clear explanation.
Why it matters: The so-called January effect is a seasonal stock market behavior that runs counter to the "efficient market hypothesis" which says stock prices are fundamentally random and unpredictable.
American consumer confidence — still bizarrely low given how healthy the economy is — could be set for a substantial rebound in 2024.
Why it matters: Consumer confidence has historically been a good predictor of whether or not incumbent politicians will be re-elected. A rebound would therefore be good news for President Biden and Democrats more broadly.
Why it matters: The coffee giant said it's a step in reducing waste by 50% by 2030 and part of a "larger cultural movement" to shift toward reusables and away from single-use plastics.
