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DAILY DOSE: March 5, 2021


DAILY DOSE: March 5, 2021
Posted on 03/05/2021
1. Positive U.S. job reports, shoots up Dow Jones Industrial Average by 300 points. February Payrolls 379K, Expected 198K. Of the 379K jobs added, 286K were waiters and bartenders. COVID lockdowns that started in March 2020, forced many U.S. restaurants and bars to close temporarily. Unemployment dips to 6.2%. U.S. Bureau of Labor Statistics notes the adjusted unemployment rate would be 6.7%, compared with the published 6.2% rate.
2. Insight Partners kicked in US$ 500 million to take a minority stake in Saks.com, valuing the business at US$ 2 billion. HBC, the owner of Saks Fifth Avenue, plans to spin out the luxury department store’s website into a separate business from its stores. ....

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