Hi, everyone. Despite talks of recession, the number of Americans filing for unemployment benefits fell last week. Like the ‘Big Mac’ market indicator, Popeyes chicken sandwich is its own indicator of consumer spending trends. Mortgage refinancing has been booming, but this might not be enough to boost the economic outlook. Fidelity says the number of 401(k) millionaires has hit record levels. And American Express acquires Resy in a move to add value to their brand with added perks for cardholders.
The number of Americans filing applications for unemployment benefits fell sharply last week, suggesting the labor market was holding firm despite a manufacturing slowdown and concerns the economy is on a path toward recession.
Like the Whopper and the Big Mac, it was born during an economic boom to help a fast-food chain discreetly raise prices.
On the heels of a Federal Reserve interest-rate cut, Americans are refinancing their homes at the fastest pace in years, data show.
The number of Americans with $1 million or more in their 401(k) accounts has reached record levels, according to Fidelity Investments.
Resy’s CEO Ben Leventhal says the acquisition will only help Resy deliver a better experience for its restaurant partners. Plus, Amex card members will get exclusive perks through Resy.