Global Food Prices Surge to Near Decade High, UN Says
Thursday, June 3, 2021 03:01 AM By Megan Durisin UN gauge of world food costs climbed for 12th month in May ‘Very little room’ for shocks to production, demand: economist (Bloomberg) — Global food prices extended their rally to the highest in almost a decade, heightening concerns over bulging grocery bills as economies struggle to exit […]
Amid hiring troubles, rising prices, U.S. growth gains speed -Fed
WASHINGTON (Reuters) -The U.S. economic recovery accelerated in recent weeks even as a long list of supply chain troubles, hiring difficulties, and rising prices cascaded through the country, Federal Reserve officials said in their latest review of economic conditions. The economy grew at a “somewhat faster rate” from early to late May, the Fed reported […]
Intel reiterates chip supply shortages could last several years
Intel Corp’s (INTC.O) CEO said on Monday it could take several years for a global shortage of semiconductors to be resolved, a problem that has shuttered some auto production lines and is also being felt in other areas, including consumer electronics. Pat Gelsinger told a virtual session of the Computex trade show in Taipei that the work-and-study-from-home […]
China Is Losing Its Power to Rein In Commodity-Price Surges
Friday, May 28, 2021 08:31 AM By Alfred Cang Dips after speculator warnings a buying opportunity: Goldman Fiscal stimulus means the U.S. now has more pricing power (Bloomberg) — China’s efforts to rein in surging commodities prices are likely to be in vain as it’s lost the ability to boss the market around, according to two […]
Stocks Climb Amid Renewed Growth-to-Value Rotation: Markets Wrap
Thursday, May 27, 2021 09:14 AM By Rita Nazareth and Claire Ballentine Jobless claims fell last week to a fresh pandemic low Orders for U.S. business equipment rose more than forecast (Bloomberg) — Stocks climbed after strong economic reports spurred a rally in companies that stand to benefit the most from a rebound in activity. Treasuries fell, while the dollar was […]
Falling Yields-Rising Tech Playbook Is in Tatters: Taking Stock
Friday, May 28, 2021 06:38 AM By Elena Popina (Bloomberg) — This month’s drop in yields was supposed to benefit high-growth tech names. Not only didn’t they rise — they fell, now headed for the biggest loss since October. And while a list of reasons why that could’ve happened is getting long, one take is that […]
Costco is seeing inflation abound, impacting a slew of consumer products
Don’t tell Costco executives that inflation is low. The big-box club chain said it’s been seeing accelerating prices across a range of products, including shipping containers, aluminum foil and a 20% spike in meat prices over the past month. “Inflationary factors abound,” CFO Richard Galanti said on the company’s fiscal third-quarter earnings call Thursday. “These […]
World Faces Longer Supply Shortage as China’s Factories Squeezed
Wednesday, May 26, 2021 05:20 PM By Bloomberg News Surging commodity prices curbing manufacturers’ profits Uncertainty is restraining companies from expanding capacity (Bloomberg) — Eric Li’s factory making glass lampshades for companies including Home Depot Inc. is being stretched to its limits with sales doubling their pre-pandemic level. But like many Chinese manufacturers, he doesn’t plan to […]
Taiwan’s Sudden Unraveling Masks a Serious Climate Problem
Tuesday, May 25, 2021 01:56 AM By Adam Majendie and Raymond Wu Government faces stark choices over energy, water supplies Taiwan temperatures have risen twice the global average (Bloomberg) — Taiwan is being squeezed by a resurgent coronavirus on one side and a yearlong drought that is disrupting agriculture, industry and power supplies on the other. Only one […]
U.S. Consumers Are Growing Confident Inflation Is Getting Sticky
6:29:00 AM Traders should pay close attention to the latest consumer confidence reading because it could have an impact on interest rates. The data being released this morning tracks with inflation, particularly the type that is not transitory. Headline inflation has been largely driven by rising food and energy prices, which the average consumer feels immediately. […]