Economist Who Said Inflation Was Dead Now Thinks It’s Alive
Sunday, June 6, 2021 09:00 PM By David Goodman (Bloomberg) — A quarter of a century after declaring the death of inflation, Roger Bootle is seeing signs of its rebirth. Pockets of price growth are emerging from the cost of used cars to lumber as the world starts to recover from the coronavirus pandemic. That’s […]
World stocks fall on inflation concerns amid strong U.S. data reports
Asian shares were a touch below a recent three-month top on Thursday with China a tad weaker as investors weighed inflation concerns ahead of key U.S. economic data while oil prices rose to near 1-1/2 year highs. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.3% to 711 points. It went as high as 712.57 […]
U.S. Services Gauge Climbs to Record, Showcasing Faster Recovery
Thursday, June 3, 2021 07:39 AM By Vince Golle ISM orders, activity indexes pick up from month earlier Measure of order backlogs also highest in data to 1997 (Bloomberg) — U.S. service providers expanded at the fastest pace on record in May, highlighting the rapid improvement in business activity across the economy. The Institute for Supply […]
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 […]