1) US cuts 301k jobs in January vs 200k gain
US companies cut 301,000 jobs in January as the omicron slammed the jobs market, according to the report from ADP. The data came in unexpectedly as the market expected a gain of 200,000 jobs. January 2022 was the first time the payroll processing firm has reported negative job growth since December 2020.
2) JPMorgan largely cuts Bitcoin estimate price to $38k
JPMorgan has changed its view on the estimate of bitcoin’s price on a long-term basis, largely cutting the estimate down to $38,000. The investment bank lowered its estimate from $146k back in November when the price of bitcoin was over $60,000. The change in pricing was due to the increased volatility the asset has faced in recent times.
3) Brazil’s central bank hikes interest rate by 150bps
Brazil’s central bank delivered its third straight interest rate hike of 150 basis points. Highly expected by the market, the bank lifted its benchmark Selic to 10.75% as inflation soared to 10.1% in 2021 from 4.5% in 2020. However, inflation is slowing down less than expected despite recession
4) Facebook falls 20% after missing 4Q21 earnings expectation
The share price of Facebook plunged more than 20% after hours as 4Q21 earnings came in below expectations, while the company said that there are numerous challenges ahead in the first quarter of 2022. Earnings were $3.67 vs $3.84 expected, according to a Refinitiv.
