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 […]
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 […]
Amazon says more than 300 million items sold during ‘biggest’ Prime Day event
PUBLISHED THU, JUL 14 20229:49 AM Source: CNBC, Annie Palmer Amazon announced that this year’s Prime Day event, which ended Wednesday, was its “biggest” ever. The company said more than 300 million items were purchased worldwide during the two-day discount bonanza, but it did not disclose total sales. Soaring inflation didn’t appear to deter consumers […]
TSMC Sales Soar 44% in Another Sign of Resilient Tech Demand
Thursday, July 7, 2022 11:48 PM Source: Bloomberg: Debby Wu Taiwan Semiconductor Manufacturing Co. reported better-than-expected quarterly revenue, providing another signal that electronics demand is holding up better than feared. The world’s largest contract chipmaker booked NT$534.1 billion ($17.9 billion) of revenue for the second quarter, according to Bloomberg’s calculations, compared with the average analysts’ estimate of NT$519 […]
Ned Davis Gets Bullish as Inflation Outlook Cools: Taking Stock
Tuesday, July 5, 2022 05:52 AM Source: Bloomberg, Elena Popina Days after this year’s selloff began, Ned Davis Research scrapped its bullish outlook on US equities. After the worst start to a year in half a century, the firm is bringing it back. A recent pullback in commodity prices could bring inflation down and tame the Federal […]
B of A’s Moynihan Says Consumers Are Holding Up as Rates Rise
Wednesday, April 20, 2022 10:36 AM Source: Bloomberg, Katherine Doherty The U.S. consumer is holding up well as inflation rises and interest rates climb, Bank of America Corp. Chief Executive Officer Brian Moynihan said. “There is a lot of dry powder on the consumer side,” Moynihan said in a Bloomberg TV interview with David Westin Wednesday. Account balances are rising and […]