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Top stories today:
- $118B Senate bill on Ukraine, Israel, border unveiled
- Powell: āgive it some time and see the dataā before cutting rates
- Vision Pro reviews: best-in-class but still early-stage product
- Elon again accused of drug use by WSJ
- Meta stock's +20% on Fri. increased market cap by record $196.8B
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
1. $118B Senate bill on Ukraine, Israel, border unveiled, but top Republicans declare it dead
House Speaker Johnson called it ādead on arrival,ā supporting a $18B Israeli-only bill
Johnson said the House would vote on a $18B Israel-only package, signaling a lack of support for Ukraine aid and that the GOP believes Biden can fix the border crisis through executive orders.
2. Powell on CNBC: āgive it some time and see the dataā before cutting rates, likely not in March, but this year
He wants to be careful in rate cuts: āthe prudent thing to do is to, is to just give it some time and see that the data continue to confirm that inflation is moving down to 2% in a sustainable way.ā
āWe wouldnāt wait to get to 2% [inflation] to cut rates.ā
Doesn't think [commercial real estate crash] is likely: āI donāt think thereās much risk of a repeat of 2008.ā
Debt is unsustainable āover the long termā: āeffectively, weāre borrowing from future generations.ā
āThe U.S. has been the indispensable nation supporting and defending democracy, security arrangements, economic arrangements [ā] I hope that continues.ā
Markets price in rate cuts starting in May, reaching 4.00% - 4.25% by the end of the year
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4. Vision Pro reviews point towards best-in-class but still early-stage product
Casey Neistat's review showed the Vision Pro being used throughout NYC:
