Market Minute: Activision Blizzard Fined, Recession Outlook Brightens & Apple's New iPhone

Here is a rundown of Cheddar News' top trending market stories of the day. 

RECESSION OUTLOOK

After Friday's historic jobs report, which showed the U.S. economy adding half a million new positions despite a slew of recent high-profile tech layoffs, recession blues are waning. Economist Larry Summers, former Treasury secretary under president Bill Clinton, told CNN's Fareed Zakariaha on Sunday that it is now more likely the Federal Reserve will pull off a "soft landing" (i.e. avoid a recession), even as he stressed that the economy is  not "out of the woods" yet. 

APPLE'S NEW IPHONE

Apple tracker Mark Gurman said the tech giant is currently deciding whether it will release a new, more expensive iPhone called "Ultra" in the near future, which could arrive on shelves as part of the iPhone 16 lineup in 2024.  Gurman speculated that this new model would actually be more expensive than the iPhone Pro and Pro Max models, which start at $1,099. 

TWITTER COMPETITOR 

Kevin Systrom and Mike Krieger, co-founders of Instagram, last week revealed details about their latest project: a social media app designed to compete with Twitter. Called Artifact, the entrepreneurs described the app as a "personalized news feed using the latest AI tech." Right now, the app is only accessible via invitation only, but those interested in a Twitter alternative can sign up for a wait list to eventually test out if Artifact is a serious contender. 

ACTIVISION BLIZZARD SETTLEMENT

Activision Blizzard, the company behind Call of Duty and Overwatch, has settled charges over its handling of workplace harassment and discrimination claims with a $35 million fine. The Securities and Exchange Commission released a statement saying the company was aware that it lacked sufficient procedures to address the problem and needed to be more proactive to collect and assess the complaints.  

More In Business

Mortgage Rates Lower to 6.63%. Prospective Homebuyers Exhale

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How to Save for Retirement the Right Way

As millions of Americans are set to retire, John Carter, President & COO of Nationwide Financial, shares what to expect and how consumers of all ages can better prepare for their golden years.

Microsoft is the ‘Best A.I. Play Out There’

(Photo by Anna Moneymaker/Getty Images)

Social Media CEOs Testify in Senate Hearing Over Child Safety

The heated hearing began with recorded testimony from kids and parents talking about being exploited on social media. Throughout the hours-long event, parents who lost children to suicide silently held up pictures of their dead kids.

How Pro, Really, Is Apple's Vision For AR Headsets?

No, Apple isn't entering the ski mask market. Available February 2, the Vision Pro is an augmented-reality headset, and it costs around $3,500.

Adtalem Global Education CEO Responds to Report Calling it ‘Uninvestable’

Adtalem CEO Steve Beard addresses a report from Safkhet Capital taking the short position on the for-profit education giant, plus why he believes there should be financial recourse for student loan borrowers misled by their institutions.

Americares Is Celebrating 45 Years of Lifesaving Aid

CEO of Americares Christine Squires shares how the organization is helping provide medical assistance in a time of increasing instability, war, and climate-related disaster.

How Investors Can Take Advantage of the A.I. Boom

Doug Clinton, Deepwater Asset Management managing partner, shares tips for investors looking to take advantage of the massive boom in artificial intelligence beyond Microsoft and Nvidia.

5 Things Every Traveler Should Do to Avoid Airbnb Scams and Score the Best Listings

After an $8.5 million scam on its site, Airbnb is cracking down on fraudulent listings. Make sure your getaway doesn't get away from you.

Microsoft Is Having Its ‘iPhone Moment’

Jason Moser, analyst and adviser at the Motley Fool, shares thoughts on recent tech earnings, including what’s behind Google’s share price drop and why A.I. could be Microsoft’s ‘iPhone moment.’

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