US Consumers Show Signs of Resilience Despite Raging Inflation
Wednesday, August 17, 2022 09:56 AM Source: By Reade Pickert and Brendan Case US consumers are standing firm in the face of hot inflation and rising interest rates — even if they’re spending with a little less gusto and a lot more frustration. Retail sales excluding a price-induced drop in gas station receipts and a drop […]
U.S. retail sales flat on gasoline price drop; consumer spending resilient
August 17, 20229:00 AM PDT Source: Reuters by Lucia Mutikani U.S. retail sales were unexpectedly unchanged in July as falling gasoline prices weighed on receipts at service stations, but consumer spending appeared to pick up at the start of the third quarter, further assuaging fears the economy was in a recession. Declining gasoline prices, however, […]
U.S. manufacturing production accelerates in July
August 16, 20226:52 AM PDT Source: Reuters Production at U.S. factories increased more than expected in July as output rose at motor vehicle plants and elsewhere, pointing to underlying strength in manufacturing despite ebbing business confidence. Manufacturing output rebounded 0.7% last month after declining 0.4% in June, the Federal Reserve said on Tuesday. Economists polled […]
US Consumer Sentiment Rises to Three-Month High on Outlook
Friday, August 12, 2022 07:09 AM By Olivia Rockeman Year-ahead inflation expectations fall; edge up longer-term University of Michigan sentiment index at 55.1 from 51.5 (Bloomberg) — US consumer sentiment rose in early August to a three-month high on firmer expectations about the economy and personal finances. Inflation expectations were mixed, with consumers boosting their longer-term […]
Stifel raises S&P 500 forecast, recommends growth stocks because inflation to fall ‘sharply’
PUBLISHED FRI, AUG 5 2022 12:25 PM EDT Michelle Fox CNBC The market’s bounce off the July lows could have further to go as inflation pressures start easing, Stifel’s Barry Bannister said. The firm’s chief equity strategist hiked his year-end S&P 500 target to 4,400 from 4,200. The new target implies upside of 6% from […]
Microsoft Shares Rise on Upbeat 2023 Sales Growth Forecast
Tuesday, July 26, 2022 04:01 PM By Dina Bass Software giant eases concerns about demand, strong US dollar Quarterly results earlier missed analysts’ reduced estimates (Bloomberg) — Microsoft Corp. gave an upbeat sales forecast for the fiscal year that just began, easing investor concerns about growth that had flared up following a lackluster fourth-quarter earnings report. Shares […]
Alphabet, Microsoft Spur Hope Big Tech Can Handle Slow Economy
Tuesday, July 26, 2022 05:54 PM By Julia Love Texas Instruments also provides dose of optimism with earnings Three companies kick off busy earnings week for the tech world (Bloomberg) — Alphabet Inc., Microsoft Corp. and Texas Instruments Inc. posted double-digit quarterly revenue growth on Tuesday and expressed optimism about the coming months, reassuring investors who had been fretting that […]
Google Reassures Investors With Ad Sales Showing Resilience
Tuesday, July 26, 2022 03:34 PM By Davey Alba Google search ads weather storm hitting social media ads CFO Porat sees ‘broad-based strength in advertiser spend’ (Bloomberg) — Google parent Alphabet Inc.reported second-quarter revenue that met analysts’ expectations, reflecting the internet giant’s resilience amid slowing growth in advertising. Revenue, excluding payments to distribution partners, was $57.5 billion […]
Why Inflation Is on the Way Down
The Fed should ask Milton Friedman. When growth of the money supply slows, so does the increase in prices. By Donald L. Luskin WSJ Opinion July 25, 2022 2:04 pm ET The Federal Open Market Committee faces a momentous decision this week, with markets fully expecting a history-making second-in-a-row 0.75-point hike to the federal-funds rate. […]
Stop panicking about inflation, BlackRock CEO tells investors — ‘We’re going to get through this’
PUBLISHED WED, JUL 20 2022 CNBC.com / Mad Money Krystal Hur KEY POINTS The economic headwinds currently roiling the U.S. economy are fixable in the long-run, meaning investors can afford to relax a bit, BlackRock CEO Larry Fink told CNBC’s Jim Cramer on Wednesday. “A really famous person called me up, panicking, ‘what should I […]