Friday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.
Monthly jobs report out Friday
The economy added 517,000 jobs in February, blowing past estimates of just under 200,000.
That’s more than the 504,000 jobs added in January 2022, but just less than the 520,000 jobs added in January 2021.
Mortgage rates drop to 5% range for first time in months
Mortgage rates drop to the 5% range for the first time since September.
For someone buying a $400,000 home today with a 20% down payment, the monthly payment is $293 less than it would have been in October.
Clorox product sales normalize after pandemic surge
Clorox boosted its full-year forecast on price hikes and cost cuts.
Consumer demand for cleaning products has normalized since a wave of panic buying in the early days of the coronavirus pandemic. Sales of professional-grade products are lower in part because people aren’t in the office as much as they used to be.
Amazon stocks fall after least profitable quarter in almost a decade
Amazon has reported its first unprofitable year since 2014.
After a long run of surging profits from pandemic-era shopping sprees, Amazon is feeling the hangover, reporting a loss of $2.7 billion despite a holiday-season sales growth of 9%.
The biggest culprit for Amazon’s losses over the year was the company’s hefty investment in the electric automaker, Rivian, whose value plummeted last year.
Ticketmaster prepares for Beyonce tour demand
Queen Bey is just three months away from the first date of her “Renaissance World Tour.”
Ticketing for the North American leg of the 41-date tour begins Feb. 6. Indianapolis is not one of the stops on the tour, but Beyonce will visit Chicago, Detroit, Louisville, and Nashville.
Ticketmaster has been under fresh scrutiny since the presale for Taylor Swift’s “Eras” tour was overrun by bots, preventing thousands of fans from buying tickets.