US Companies Added 132,000 Jobs in August, New ADP Data Show
Wednesday, August 31, 2022 05:25 AM Source: Bloomberg by Reade Pickert US companies increased headcount at a relatively sluggish pace in August, according to a revamped private report that suggests hiring is downshifting in an economy buffeted by high inflation and rising interest rates. Businesses’ payrolls rose 132,000 this month after a nearly 270,000 gain in […]
US Consumer Confidence Advances to Highest Level Since May (1)
Tuesday, August 30, 2022 07:08 AM Source: Bloomberg By Olivia Rockeman US consumer confidence rose by more than forecast in August to the highest since May, suggesting that Americans are growing more optimistic about the economy amid falling gas prices. The Conference Board’s index increased to 103.2 from a downwardly revised 95.3 reading in July, the first […]
U.S. labor market defies interest rate hikes as job openings rise high in July
August 30, 202211:31 AM PDT Source: Reuters by Lucia Mutikani U.S. job openings increased in July and data for the prior month was revised sharply higher, pointing to persistently strong demand for labor that is giving the Federal Reserve cover to maintain its aggressive interest rate increases. The Labor Department’s Job Openings and Labor Turnover […]
North American companies send in the robots, even as productivity slumps
August 29, 20224:09 AM PDT Reuters by By Timothy Aeppel North American companies snapped up a record number of robots in the first half of this year as they struggled to keep factories and warehouses humming in the face of an extremely tight labor market and soaring compensation costs. Companies ordered a record 12,305 machines in the second […]
‘Inflation Fever’ Is Finally Breaking — But Central Banks Won’t Stop Hiking Rates
Sunday, August 28, 2022 02:30 PM Source: Bloomberg by Rich Miller and Enda Curran Global inflation is finally coming off the boil, even if it’s set to remain far too hot for the liking of the world’s central bankers. As economic growth slows, prices for key raw materials — from oil to copper and wheat — […]
US Consumer Sentiment Rises to Three-Month High on Easing Prices
Friday, August 26, 2022 07:00 AM Source: Bloomberg, by Olivia Rockeman US consumer sentiment rose more than expected in August as year-ahead inflation expectations eased, suggesting Americans are growing more optimistic as gas prices continue to drop. The University of Michigan’s final sentiment index climbed to 58.2, the highest since May, from 51.5 in July, […]
US Corporate Profits Soar, Taking Margins to Widest Since 1950
Thursday, August 25, 2022 08:42 AM Source: Bloomberg By Reade Pickert A measure of US profit margins has reached its widest since 1950, suggesting that the prices charged by businesses are outpacing their increased costs for production and labor. After-tax profits as a share of gross value added for non-financial corporations, a measure of aggregate […]
JPMorgan says the growth stocks rally has further to go — and explains when it will likely end
PUBLISHED SUN, AUG 21 20228:23 PM EDT Source: CNBC by Zavier Ong Investors have poured into growth stocks of late, but as recession fears mount, market watchers are weighing whether to rotate into safer bets instead. JPMorgan, however, believes the growth rally still has “further to go.” “We continue to think the rebound in growth […]
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, […]