Stock Market Winners & Losers: Stocks Look to Continue Record-Setting Run | Fast-Food Workers Are Getting a Raise in California | Trump Media Stock Jumps as Much as 50%

Winner: Stocks look to continue record-setting run
Stocks climbed higher as the market aimed to sustain its record-breaking streak throughout the first quarter of the year. An Oppenheimer strategist boosted the 2024 S&P 500 price target to a Street high of 5,500, adding to the optimism. Additionally, durable goods orders showed a rebound in February. Looking ahead, all eyes are on the impending release of the Personal Consumption Expenditures Price Index (PCE) by the government on Friday, a crucial indicator for market sentiment and economic outlook.

Winner & Loser: Fast-Food Workers Are Getting a Raise in California
Fast food chains are facing a tough time with declining sales, higher food and labor costs, and increasing overheads. In April, California's minimum wage will jump to $20 an hour, prompting layoffs of 20% to 50% of staff. This will lead to menu price hikes of 6% to 8%, with some franchises raising prices even more. Brands heavily invested in California, like El Pollo Loco and Jack in the Box, are particularly affected. To cope, expect to see more technology integration like in-store kiosks and automated machines in fast-food outlets.

Loser: Trump Media stock jumps as much as 50%
Trump Media & Technology Group, using the ticker DJT, has re-entered the market, reminiscent of its past Wall Street venture almost three decades ago. While the initial launch saw a substantial increase in Donald Trump's net worth, the company is grappling with issues. Truth Social, its main platform, has under 15 million users and is experiencing financial losses, with $49 million reported last year, surpassing its revenue. Trump is restricted from selling stock for six months without board approval, amid concerns that such sales could lead to stock declines and potential lawsuits from shareholders.

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