Apple under fire, Fed’s Powell juices stocks and Reddit’s rally

-The DOJ lowers the boom on Apple 

-Federal Reserve Chairman Jerome Powell pleases investors 

-Dow, S&P 500 and Nasdaq Composite test new all-time highs 

-Chipotle’s crazy 50-for-1 stock split 

-Reddit is America’s newest public company, and shares rocket

-New details emerge in the curious death of the Boeing whistleblower 

-Ben & Jerry’s getting the boot after years of political leanings 

-After 81 years, craft store Joann files for Chapter 11 

-Meta CEO Mark Zuckerberg treats himself to a big boy superyacht 

DOJ BITES APPLE: The Department of Justice is accusing Apple, the world’s most valuable company, of operating a monopoly in the administration’s latest clampdown on big tech…continue reading here.  

VIDEO: Apple’s lawsuit is no easy fix, say investors. 

LIVE PRICES FOR CRYPTOCURRENCIES: HERE

THREE’S A CHARM?: Federal Reserve Chairman Jerome Powell did not disappoint as he confirmed three interest rate hikes are still in the cards this year despite sticky inflation after policymakers held rates steady at the March meeting…continue reading here. 

VIDEO: Wharton’s top professor was taken aback by Powell.  

5 STRATEGIES TO BUILD YOUR EMERGENCY FUND

INVESTORS CELEBRATE: After the dovish move by the Fed, stocks ended mixed on Friday. But the Dow Jones Industrial Average and the S&P 500 closed out the best week of 2024. And the Nasdaq Composite captured its fifth record close, powered by AI leader Nvidia, which has gained over 90% this year, ahead of the S&P 500’s 10% advance…check markets here.

S&P 500 YTD: +9.7%

BURRITO BUSINESS: Chipotle’s bottom line is so good the company announced a historical 50-for-1 stock split. The move will make the shares, which sit at a whopping $2,882 and change, more accessible to investors and employees. It also mirrors a strategy Walmart announced earlier this year…continue reading here.

VIDEO: Chipotle executive talks about chain’s big expansion plans. 

REDDIT ROCKS: Social media and discussion forum Reddit executed a well-received initial public offering. The stock spiked before pulling back but ended above its $34 offering price…continue reading here.

VIDEO: An early Redditor shares his inside look at the company. 

MYSTERY DEEPENS: The surprise death of a Boeing whistleblower took a new turn this week as details emerged about his relationship with company executives…continue reading here. 

VIDEO: Boeing’s safety crisis is giving a lift to chief rival Airbus. 

BYE-BYE: Ben & Jerry’s parent, Uniliver, is going to jettison the ice cream brand, which has been known to take political sides…continue reading here. 

FOLLOW THE FOX BUSINESS DEBT TRACKER: HERE

CRAFT CRISIS: After 81 years, arts and crafts retailer Joann filed for Chapter 11 bankruptcy, but the retailer is still hoping to survive…continue reading here. The move is the latest in a string of retailers shuttering stores…continue reading here.  

HAPPY BIRTHDAY TO ME: Mark Zuckerberg, CEO of Meta, which includes Facebook, Instagram and the newest platform Threads, treated himself to a special birthday gift. 

VIDEO: A bird’s-eye view of Jeff Zuckerberg’s new $300 million superyacht. 

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