— Elon Musk’s Tesla has a turbulent week
— Boeing crisis ongoing as CEO Doug Calhoun hits Capitol Hill
— Billionaire bond king Jeff Gundlach is skeptical about key economic data points
— Layoffs hit Big Tech companies and more may be coming
— 4Q GDP sees solid bump
— Tax season starts Monday
— McDonald’s has a hit on its hands
TOP STORY: TESLA HITS THE SKIDS: The EV maker set the tone for slower growth in 2024 and CEO Elon Musk explained why. “Tesla is currently between two major growth waves. We’re focused on making sure that our next growth wave, driven by next-gen vehicle, energy storage, full self-driving, other projects, is executed as well as possible,” Elon Musk said during the automaker’s earnings call. He also warned about a growing threat from China…continue reading here.
Shares of the automaker lost over 13% this week. Musk, as the company’s largest individual shareholder, saw his net worth dip by $12 billion to $204 billion, bumping him to the No. 2 spot on Forbes Real-Time Billionaires list as of Friday.
TESLA 1-WEEK: -13.6%
VIDEO: Should you buy Tesla stock?
BOEING CEO UNDER FIRE: Dave Calhoun made the rounds on Capitol Hill this week, doing damage control after a dummy door popped out of a 737 Max 9 Alaska Airlines jet cruising at 16,000 feet earlier this month. The fallout continues as lawmakers and customers demand answers and assurances that Boeing planes are safe…continue reading here.
VIDEO: FOX Business asks Boeing’s CEO tough questions on safety.
BILLIONAIRE BOND KING SOUNDS OFF: Jeff Gundlach, also known as the billionaire bond king, is raising a red flag about possible discrepancies between national job growth and what’s happening at the state level…continue reading here.
VIDEO: DoubleLine Capital CEO Jeffrey Gundlach’s full FOX Business interview.
TECH LAYOFFS MOUNT: Sticking with jobs, Salesforce may be shedding 8,000 workers, according to the Wall Street Journal; eBay is cutting 1,000 positions; and Etsy is cutting nearly 2,000. And more companies may send workers to the chopping block…continue reading here.
VIDEO: Layoffs so far this year could be the tip of the iceberg.
FIRING AWAY: The U.S. economy grew faster than expected in the fourth quarter, potentially creating a new wrinkle for policymakers, who are expected to cut interest rates this year…continue reading here.
VIDEO: Kevin Hassett, former economic adviser during the Trump administration, weighs in on the latest data ahead of the Federal Reserve’s January meeting next week and the 2024 election. Trump leads the GOP field against Nikki Haley after he won the Iowa and New Hampshire primaries.
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MICROSOFT TAKES BITE OUT OF APPLE: Microsoft edged out Apple, nabbing a $3 trillion market cap value this week while the maker of iPhones and Macs settled just below that level…more on Microsoft here.
MICROSOFT NABS $3 TRILLION MARKET VALUE
VIDEO: Longtime trader Kenny Polcari talks tech plays.
TAX SEASON IS HERE!: Monday will kick off the 2024 reporting season as millions of Americans prepare to file their taxes.…continue reading here.
EATING IT UP: The reviews are in for McDonald’s new spinoff CosMc’s…continue reading here.
S&P 500 SOARS: The broadest measure of the U.S. stock market hit another all-time high as all three of the major stock market averages recorded the third straight week of gains…more market coverage here.
S&P 500 1-WEEK: +1%+
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