Online spending soared 54% in February, signaling a permanent shift in Americans’ shopping habits, Mastercard says
Ecommerce a 54% increase in February compared last year, Mastercard said. Online apparel and jewelry sales rose 75% and 63% last month from 2020, CNBC reported. The “e-commerce muscle” built in the pandemic is “here to stay,” Mastercard executive says. Visit the Business section of Insider for more stories. Online sales jumped 54% in February from […]
Market strategist who called the pullback says you have to buy the tech ‘FANG’ stocks on the dip
The market appears to be entering a positive period after the Nasdaq shakeout, and big-cap tech has gotten cheap enough to buy, according to BTIG’s Julian Emanuel. Emanuel said big cap tech growth stocks, like “FANG” (Facebook, Alphabet, Netflix, Google-parent Alphabet), have been beaten up enough after losing ground in the tech correction, as the […]
Yellen Says Inflation Problem Unlikely to Result From Stimulus
(Bloomberg) — Treasury Secretary Janet Yellendismissed fears that President Joe Biden’s $1.9 trillion pandemic-relief bill is so big that it will cause an inflation problem. “I really don’t think that’s going to happen,” Yellen said in an interview with MSNBC Monday, when asked about concerns that consumer-price pressures could surge as a result of deploying the stimulus […]
TSMC reportedly planning on building six new manufacturing facilities in the U.S.
In a much-needed bid to address the massive global semiconductor shortage, Taiwan-based TSMC is planning to ramp up its manufacturing. The chipmaker plans to set shop in Arizona, USA, as a part of its global expansion endeavour. This move comes after Joe Biden signed an executive order that incentivizes manufacturers to shift base to the […]
Economists Ratchet Up U.S. Growth Forecasts on Spending Plan
(Bloomberg) — Growth prospects for the U.S. economy this year are brightening considerably as Americans get vaccinated from the coronavirus and Congress closes in on another massive fiscal relief package. The latest Bloomberg monthly survey of economists shows the pace of growth in the first quarter will be twice as fast as respondents expected just […]
‘Often the best part of bull markets comes at the end’
Guggenheim’s Scott Minerd told CNBC PRO on Tuesday that asset prices appeared expensive in multiple parts of the investing world, but he wasn’t ready to call it a bubble. He explained his views on asset prices and inflation in the chat with Brian Sullivan.
GLOBAL INSIGHT: Recovery? Yes. Tantrum? No. Yield Model Says
(Bloomberg Economics) — A pronounced rise in U.S. bond yields is sending ripples across global markets. Bloomberg Economics’ model suggests the main driver is market expectations of a more robust U.S. recovery. Investors’ belief that the Federal Reserve will accommodate rather than lean against the rise is an important secondary factor. A increase in yields […]
U.S. Companies Add Fewer Jobs Than Forecast, ADP Data Show
(Bloomberg) — The number of employees at U.S. businesses rose in February by less than expected, underscoring the labor market’s struggle to recover despite a decline in Covid-19 infections in recent weeks. Company payrolls increased by 117,000 during the month, according to ADP Research Institute data released Wednesday. The median projection in a Bloomberg survey of economists […]
Guggenheim’s Minerd says don’t count on rising yields, believes U.S. could even see negative rates
Scott Minerd, Guggenheim’s global chief investment officer, said Tuesday that the widespread expectation on Wall Street for rising interest rates was likely wrong and the the benchmark U.S. Treasury rate could even turn negative. Minerd told CNBC’s Brian Sullivan on CNBC’s “The Exchange” that a model used by his firm to make investment decisions showed that interest rates were […]
Biden to sign executive order targeting America’s supply chains in critical areas
President Joe Biden plans to sign an executive order Wednesday seeking to strengthen America’s supply chains in several sectors to bolster the economy and protect workers, administration officials said. The executive order would strengthen supply chains for critical goods primarily in mainly four areas: pharmaceuticals, rare earth minerals, semiconductor chips and large-capacity batteries. Officials said […]