Business

LARRY KUDLOW: The Dow 50,000 Prosperity Rocket Ship

Published

3 hours ago

6 February 2026

NewsAdmin

LARRY KUDLOW: The Dow 50,000 Prosperity Rocket Ship

FOX Business host Larry Kudlow unpacks U.S. market performance under the Trump administration on ‘Kudlow.’

To quote President Trump’s Truth Social post, “Congratulations America” on Dow 50,000.

And the widely known index didn’t just crawl above 50,000, it rocketed by 1,100 plus.

And all those techie moaners and groaners have had their day in court, but they lost because they were up almost 2 percent and the broad based S&P is up almost 2 percent.

There’s always a frothy selling period, kind of a cleansing. And it’s healthy. Yet as I’ve believed for so many decades, you buy stocks for the long run. You buy the indexes or the ETFs and you hold them for the long run. And right now we have a market which is backed by very strong fundamentals.

National Economic Council Director Kevin Hassett breaks down President Donald Trump’s economic agenda as the Dow hits 50,000 and explains how growth policies aim to increase Americans’ take-home pay on ‘Kudlow.’

Yes, that’s right, profits are the mothers’ milk of stocks. And profits are strong. Future earnings estimates continue to show double digit profit gains. And this is a productivity-driven profitability,

where unit labor costs are barely above one percent, that is wages minus productivity.

It’s a decent proxy for low inflation and for that matter, for the whole Trump economic boom.

The success of the One, Big, Beautiful Bill of tax cuts, deregulation, “drill, baby, drill,” and reciprocal fair trade, is backing up the stock market.

There’s a business investment boom, called capital deepening, which is driving up productivity and real wages for middle class working folks.

And please remember there’s something like 135 million Americans invested in stocks, through 401ks or IRAs, or brokerage accounts, or even union pension funds.

And hopefully the success of the Trump savings accounts for newborns will create a generation of children who will come to appreciate not only the workings of the stock market, but also business and the entire economy and for that matter free-market capitalism.

From poverty to millionaire status, it’s all very possible. Treasury Man Scott Bessent spoke about it earlier today, noting that “Trump accounts are a generational down payment on the American dream.” He added that “each eligible American child will receive a $1,000 seed contribution invested in the U.S. stock market, giving them a tangible stake in the most powerful economy in the world.”

Mr. Bessent concluded: “As children see their the accounts grow, they learn how markets work, how patience pays off, and how financial stability builds independence”

Part of today’s stock market rally could be traced to the third straight increase for consumer confidence and a six month high.

I’m not crazy about that survey because it’s heavily weighted to Democrats. Yet maybe some of them have seen the light and will stop bellyaching about tariff inflation, and other economic evils that have not come to pass.

And even more, a good piece by Kim Strassel at the Wall Street Journal notes a sizable reduction on the outlook for a federal budget deficit.

Truist Wealth CIO and chief market strategist Keith Lerner discusses U.S. exceptionalism, investment and economic upticks on ‘Making Money.’

The Office of Management and Budget director, Russell Vought, is re-estimating a near $12 trillion reduction in the deficit outlook.

That includes $2 trillion from the One, Big, Beautiful Bill, and $5.6 trillion attributable to 3 percent or better economic growth. There is also $290 billion from tariff revenues in 2025, which comes to $4 trillion over 10 years. And all of that reduces interest expense by $1.8 trillion.

So anyway the spending curve is starting to come down for a change.

It’s all good and it’s all captured by a roaring stock market.

Congratulations, America. Enjoy it.

Business

‘Armonia’ Delivers Historic Multi-City Magic

Published

2 minutes ago

7 February 2026

NewsAdmin

Milano Cortina 2026’s Winter Olympics opening ceremony unfolded Friday as a bold, geographically ambitious spectacle titled “Armonia” (Harmony), weaving live performances across San Siro Stadium, Cortina d’Ampezzo and beyond into a narrative celebrating Italy’s dual urban-mountain soul. The nearly three-hour show blended La Scala-inspired dance, global superstars like Mariah Carey and Laura Pausini, and dual cauldron lightings, though fragmented execution, political boos and protest interruptions tempered its grandeur.

Directed by Marco Balich with a Giorgio Armani fashion homage, the ceremony innovated by distributing athlete parades across four clusters — Milan (indoor), Cortina (Alpine/sliding), Livigno (freestyle) and Predazzo (Nordic) — ensuring all 3,000+ competitors participated despite vast distances. Critics hailed the simultaneity as “intimate and enormous,” but some found it disjointed, lacking traditional cohesion.

Dual cauldrons ignite across Italy: A first for Olympics

In a historic twist, two Olympic cauldrons blazed simultaneously: Milan’s Arco della Pace and Cortina’s Piazza Dibona, symbolizing city-mountain unity. Supermodel Vittoria Ceretti, in all-white Armani, carried the torch from San Siro to ignite Milan’s flame via “magic of technology,” while Cortina’s lit remotely — a logistical marvel marred by elongated sequences.

The multi-venue parade replaced single-stadium marches with live feeds: ice skaters in Milan, snowboarders in Livigno, biathletes in Predazzo. Television editing fluidly integrated segments, creating “four ceremonies in one,” though live crowds felt the fragmentation. U.S. athletes drew massive cheers at San Siro, only for boos to erupt during Vice President JD Vance’s brief appearance — a tense moment swiftly cut away.

‘Armonia’ theme: Beauty over politics, but protests intrude

“Armonia” promised a “voyage through art and innovation,” honoring Leonardo da Vinci, Italian design and Olympic ethos. Ethereal dancers opened with La Scala nods — marble busts, flowing choreography — evoking tranquility before escalating to time-travel motifs and massive bobbleheads. Actress Matilda De Angelis narrated, tying fragmented acts into harmony’s promise.

Mariah Carey kicked off with hits, joined by Grammy/Golden Globe winner Laura Pausini and tenor Andrea Bocelli from Tuscany. Production designer Paolo Fantin and music director Andrea Farri delivered visual feasts — ice-block banners, fashion-sports uniforms — though Deadline critiqued “gimmicks over glamour” in the flame-lighting finale.

Protests disrupted: anti-Olympic banners decried housing costs, Palestinian solidarity chants pierced whistles. Organized rather than chaotic, they underscored Italy’s civic pulse amid global tensions.

Parade of Nations: Distributed drama delights, divides

Fragmenting the traditional parade minimized travel while showcasing venues. San Siro hosted urban nations; Cortina mountain squads. Graphics aided viewers, but stadium pacing dragged — “seemingly endless procession,” per IndieWire.

U.S. flagbearers received roars; host Italy closed to “Il Canto degli Italiani.” IOC President Thomas Bach’s farewell preceded LA 2028 handover.

Critics praise innovation, critique cohesion

The Guardian (4/5 stars): “Intimate and enormous… less march of nations, more curated narrative mirroring distributed sports.”

Deadline: “Three hours, three acts lacked unity beyond visual devotion… historic spectacle, per Malagò.”

IndieWire: “Weirdness in short supply, but harmony attempts shone in editing.”

Variety: “Somber tone, stringent security for 2.2B viewers; dual flames wowed.”

Global audience hit billions; Peacock/NBC streamed live.

Day 1 medals await: Shiffrin, Chen, Kim in spotlight

Saturday yields five golds: men’s downhill (Bormio, 5:30 a.m. ET), women’s skiathlon (Val di Fiemme). Nathan Chen eyes figure skating three-peat; Chloe Kim defends halfpipe; Mikaela Shiffrin chases records.

Hosts Italy (130 athletes) bank on Federica Brignone, Sofia Goggia. Russia as AIN; China fields Eileen Gu.

Production triumphs and logistical feats

Balich Wonder Studio executed Balich’s vision: da Vinci inventions, culinary nods, youth segments. Armani costumes fused elegance-sports; Cantini Parrini’s designs dazzled. San Siro’s 75,000 roared; remote venues pulsed simultaneously.

Security — drones, robots, thousands of officers — shielded dignitaries including Vance, Rubio. Sustainability shone: 99% legacy venues.

What ‘Armonia’ means for Olympics future

Milano Cortina pioneered polycentric ceremonies, influencing LA 2028, Brisbane 2032. “Harmony” — uniting disparate elements — resonated amid division, though execution split opinions.

Malagò called it “promise to the world”; Varnier hailed inclusive athlete participation. From San Siro spectacle to Cortina flames, Italy delivered innovation — if not unalloyed unity.

Business

Dow Falls Nearly 600 Points. It’s Not Just Tech.

Published

10 minutes ago

7 February 2026

NewsAdmin

Stocks Little Changed After Fed Decision

Dow Falls Nearly 600 Points. It’s Not Just Tech.

Business

Bank of Canada Gov. Macklem Warns of Misdiagnosing Economic Weakness

Published

16 minutes ago

7 February 2026

NewsAdmin

Bank of Canada Gov. Macklem Warns of Misdiagnosing Economic Weakness

WSJ ProFeb. 5, 2026 3:52 pm ET

OTTAWA—Further interest-rate cuts won’t necessarily help an economy that’s being pulled down by U.S. trade friction, advances in artificial intelligence and lower population growth, Bank of Canada Gov. Tiff Macklem said Thursday.

The Canadian economy is undergoing a profound structural shift, Macklem said. The central bank can help support the transition, but it’s ultimately the response from policymakers, business executives and households that will determine Canada’s future prosperity, Macklem said in a speech delivered in Toronto, the country’s financial-nerve center.

Business

Luxury Retailer Cosette Announces Closure After 11 Years in Business

Published

23 minutes ago

7 February 2026

NewsAdmin

Luxury Sydney retailer Cosette has announced that it will close after 11 years in business.

The announcement, which was shared by the retailer online, also shared that the company will hold an Australian Warehouse Sale to offload remaining stock.

Cosette Announces Closure

Cosette likewise took the opportunity to explain the surprising decision to close its doors for good.

“Unfortunately, the market has changed and we – rather than our mission to make luxury more affordable, every day – were sometimes the story,” the retailer said in its statement. “So, after careful consideration, we have made the decision to close our Sydney warehouse and operations in the near future.”

The retailer has been known for selling pre-owned and authenticated luxury handbags and accessories. However, as news.com.au notes in its report, Cosette was at the center of controversy in 2024 when it was accused of selling fake designer handbags.

Investigations eventually cleared Cosette as it found no evidence to support such claims.

Australian Warehouse Sale

As previously mentioned, Cosette also announced that it will be holding an Australian Warehouse Sale.

The retailer will offer up to 80% off RRP on some luxury brands, such as Saint Laurent, Gucci, Prada and Celine.

There will also be an additional 10% off sitewide, which will be applied at checkout.

“Limited quantities, limited time,” Cosette said in its announcement. “All bags are priced to clear and will not be restocked.”

Business

Bank of Mexico Pauses in Rate-Cutting Cycle

Published

29 minutes ago

7 February 2026

NewsAdmin

Bank of Mexico Pauses in Rate-Cutting Cycle

WSJ ProFeb. 5, 2026 3:39 pm ET

MEXICO CITY—The Bank of Mexico left its benchmark interest rate unchanged Thursday, pausing after 12 consecutive cuts to assess the inflationary impact of recent tax and tariff increases.

The five-member board of governors voted unanimously to leave the overnight interest-rate target at 7.0% in their first monetary policy meeting of the year. The pause was widely expected.