Business Rundown: An AI Bull Market, Discount-Hunting Consumers, & How The Fed Is "Tempting Fate"
Description
This year’s bull market is pushing major indices to record highs, leaving Wall Street to debate if the trend can continue through the end of 2024. The robust performance may be a bit more complicated when looking at which stocks are really propping up the majors.
And the great pivot for the inflation-pinched consumer is underway in the retail space. Tech giant Amazon is now planning its own new discount service to take on Temu and Shein, which have dominated the budget e-commerce space.
FOX Business Correspondent Kelly O’Grady speaks with Bankrate Senior Economic Analyst Mark Hamrick about all this and whether or not Americans will pay the price for the Federal Reserve’s “overly cautious” fight against inflation.
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