Financial and Economic News: February 7, 2024

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Major stories developing on the global economic front, including:

• Powell’s Rate Rollercoaster
• The Big Apple’s Big Sale
• Canada’s Foreign Buyer Ban
• Tech Titans Defy Gravity
• Wage Hikes Signal Japan Recovery
• Snap Snips Staff
• Boeing Crashing Down to Earth?
• Xi Moves in Mysterious Ways
• Wall Street Looks to the East
• New York Community Bancorp Rocks Market

FinWeekly has the latest updates on top market topics and other financial news: Federal Reserve Chair Jerome Powell tempers expectations of a March rate cut, urging caution amid fluctuating economic data. Meanwhile, New York City landlords grapple with a $75 billion decline in rent-regulated property values, echoing global concerns over housing markets. Canada extends its ban on foreign homebuyers, aiming to curb rising housing costs in cities like Toronto and Vancouver. Tech titans, including Elon Musk and Mark Zuckerberg, defy market expectations, driving a surge in stock values. Japan's annual wage negotiations signal potential relief for households amidst economic revival efforts. Snap Inc. announces layoffs amid struggles to compete with industry rivals, while Boeing faces labor disputes amidst ongoing 737 Max controversies. Chinese regulators prepare to address stock market declines, while Wall Street pivots its focus towards India. Finally, New York Community Bancorp faces scrutiny and market volatility following financial adjustments prompted by regulatory pressure.

We’re making sense of it all in this episode!

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