SAN FRANCISCO (KRON) — On today’s edition of Rob Black’s Winners and Losers, our financial expert Rob Black and KRON 4’s James Fletcher to talk about the decreases in jobless claims, Netflix stocks and fast food prices.
The new jobless claims report came out and shows the lowest numbers since 1973. The number of Americans submitting applications for jobless benefits unexpectedly declined last week to match the fewest in four decades.
Initial unemployment claims dropped by 7,000 to 255,000 in the week ended Oct. 10. The decline brought the monthly average to its lowest level since December 1973.
Netflix shares fell sharply after the streaming video provider’s third quarter subscriber growth and revenue fell short of Wall Street expectations. Netflix reported net income of $29 million, compared to $59 million in the third quarter last year.
A war is breaking out between the fast food giants McDonald’s, Burger King, and Wendy’s. This is good news for consumers because it means that prices will decrease.