On Friday, the Department of Labor released its monthly jobs report. According to the report the overall economy added 313,000 jobs in February blowing away analyst expectations. The unemployment rate is at 4.1%.
Nordstrom is growing. On Thursday, the company announced it has purchased two digital retail startups. BevvyUp is a platform that allows sales associates to communicate with each other and encourages shoppers to share information with each other as they browse items on online. The company plans to integrate the digital selling platform into its new mobile app for Nordstrom’s employees. MessageYes offers brands an outlet to text their customers, leverage artificial intelligent and integrated payments. The company hopes its two new acquisitions will help realign its store footprint and equate to more traffic to the big box retailer.
Asia: Asian markets closed higher on Friday following news President Trump has agreed to meet with North Korean.
Europe: European shares closed higher after the European Central Bank (ECB) kept its interest rates unchanged at a meeting on Thursday but dropped its easing bias.
U.S: U.S shares closed higher on Thursday after President Donald Trump implemented steel and aluminum import tariffs that excluded Canada and Mexico, two key U.S. trade partners. DJIA: +93.85 24,895.21 Nasdaq: +31.30 7,427.95 S&P: +12.17 2,738.97
Word of The Day:
The actions of a central bank, currency board, or other regulatory committees which determine what the size and growth rate of a countries money supply, in turn affecting that countries interest rates. Monetary policy is maintained by increasing or decreasing interest rates or changing the amount of money banks need to keep in their vaults (aka bank reserves).
Dinner or Drink:
Brazilian Iced Chocolate Coca-Cola
2 Oz unsweetened chocolate
1/4 cup sugar
1 cup double-strength hot coffee
2 1/2 cups milk
1 1/2 cups Coca-Cola® chilled
In the top of a double-boiler over hot water, melt the chocolate squares. Stir in the sugar. Gradually stir in hot coffee, mixing thoroughly. Add the milk and continue cooking until all particles of the chocolate are dissolved and the mixture is smooth, about 10 minutes. Pour into a jar. Cover and chill. When ready to serve, stir in the chilled Coca-Cola. Serve over ice cubes in tall glasses. For a beverage, top with whipped cream. For a dessert, add a scoop of vanilla ice cream. Makes 5 cups.
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Have a safe and wonderful weekend!