U.S. economy slowing, but recession not inevitable, Yellen says
From Reuters News Reporting by Joel Schectman and David Lawder; Editing by Lisa Shumaker and Leslie Adler July 24, 20224:49 PM PDT Last Updated 18 hours ago WASHINGTON, July 24 (Reuters) – U.S. Treasury Secretary Janet Yellen said on Sunday that U.S. economic growth is slowing and she acknowledged the risk of a recession, but […]
‘Don’t see it in my numbers’: American Express CEO doubts recession fears
Source: Yahoo Finance by Brian Sozzi A big quarter for American Express (AXP) has CEO Stephen Squeri staying optimistic into the back half of the year. “We’re acquiring spending and we see future travel bookings [strong] so I don’t see it [a recession] in my numbers at all,” Squeri told Yahoo Finance. “It’s really hard for me to get […]
Global manufacturers see chip shortage easing
July 21 Source: Reuters by John Revill and Supantha Mukherjee Hyundai Motor Co (005380.KS), factory robot builder ABB (ABBN.S) and Swedish fridge maker Electrolux (ELUXb.ST) see the semi-conductor chip shortage easing, executives said Thursday, in a boost for manufacturers after a long struggle for components. An increased supply of chips will reduce one burden facing an industry that is also battling […]
Global shipping costs are lowering. Here is why it could mean the economy is bouncing back.
Source: CNBC by Alex Kantrowitz During the pandemic, the cost to ship containers climbed from $2,000 to $20,000. Now, shipping rates are falling, which Kantrowitz says could be an sign of the supply chain correcting itself. In May 2021, a shipping source told me to expect inflation. His cost to ship containers from China to […]
‘What recession?’ Evercore ISI says after bank earnings show consumers are paying their debts
PUBLISHED TUE, JUL 19 202212:43 PM Source: CNBC By Hugh Son The odds of recession may be rising, but consumers haven’t gotten the memo yet. That’s one of the main takeaways from second-quarter reports from the six biggest U.S. banks. While signs of financial stress and the impact of rising interest rates have begun to […]
Taiwan June export orders seen growing for second straight month on tech demand
July 18, 20228:17 PM PDT Source: Reuters TAIPEI, July 19 (Reuters) – Taiwan’s export orders likely grew for a second consecutive month in June after falling for the first time in two years in April, a Reuters poll showed on Tuesday, supported by demand for technology products. The median forecast from a poll of 16 […]
Stifel sees market comeback as economy dodges a recession, Fed slows rate hikes
PUBLISHED MON, JUL 18 20228:06 AM EDT Source: CNBC, by Jesse Pound The stock market is set up for a short-term rebound if fears about an economic downturn start to wane, according to investment firm Stifel. Stifel strategist Barry Bannister said in a note to clients on Monday that he sees the S&P 500 rising to 4,200 […]
US Retail Sales Top Forecast, Keeping Big Fed Rate Hike in Focus
Friday, July 15, 2022 05:41 AM Source: Bloomberg, By Olivia Rockeman US retail sales climbed in June by more than forecast in a broad advance, suggesting resilient consumer spending despite decades-high inflation and raising the prospects of an even larger Federal Reserve interest-rate hike this month. The value of overall retail purchases increased 1%, after an upwardly revised […]
US Long-Term Inflation Expectations Drop to One-Year Low
Friday, July 15, 2022 07:00 AM Source: Bloomberg, By Jordan Yadoo US consumer long-term inflation expectations declined in early July by more than forecast at the same time lower gasoline prices helped boost sentiment. Consumers expect prices will rise at an annual rate of 2.8% over the next five to 10 years, down from June’s 3.1% and […]
US Economy Careens Between Glee and Gloom With Each Data Release
Thursday, July 14, 2022 02:00 AM Source: Bloomberg, By Rich Miller The economy is putting out very mixed vibes. One day there’s an indicator that points toward US recession. The next day, talk of the expansion’s demise is dismissed as exaggerated after another stellar jobs report. “It’s really odd to think of an economy where you […]