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 […]
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 […]
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 […]
JPMorgan’s Kolanovic says a ‘mild recession’ is already priced in and so the worst is behind us
CNBC Pro The stock market has already discounted a modest recession, and that means investors can bet on a rebound, according to a top strategist at JPMorgan. Fears of a recession have steadily grown since the start of summer, and many economists expect a second-consecutive negative GDP reading later this week. However, JPMorgan’s Marko Kolanovic […]
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 […]