U.S. Recovery Sees Some Momentum After Monthlong Stall
The latest high-frequency data suggest America’s economic recovery may finally be getting moving again after stalling for a month. Bloomberg Economics created a weekly dashboard of high-frequency, alternative and market-based data to track the economy’s plunge into recession and eventual recovery. New Covid-19 cases have decelerated by the most since the start of the pandemic […]
This number shows a stunning reversal in the chances of Main Street’s survival
The pandemic is still raging on in the U.S., yet 64% of small business owners on Main Street are confident that they can survive for more than a year under current conditions, the Q3 CNBC|SurveyMonkey Small Business Survey revealed on Monday. Surprisingly, that is nearly double the 34% that held this optimistic view when polled in April. […]
U.S. manufacturing activity near 1-1/2-year high: ISM
U.S. manufacturing activity accelerated to its highest level in nearly 1-1/2 years in July as orders increased despite a resurgence in new COVID-19 infections, which is raising fears about the sustainability of a budding economic recovery. The Institute for Supply Management (ISM) said on Monday its index of national factory activity raced to a reading […]
Earnings at the halfway mark are much better than expected
Amazon, Facebook, and Apple are only among the most recent examples of a notable trend: earnings much better than expected. The reopening story may be getting rocky, but one pleasant surprise has been earnings.
Earnings at the halfway mark are much better than expected
Amazon, Facebook, and Apple are only among the most recent examples of a notable trend: earnings much better than expected.
Big tech didn’t disappoint, as Amazon, Apple, Facebook and Alphabet all seem to have weathered the pandemic well enough.
Amazon topped sales estimates last quarter and for the current period, during which it expects revenue of between $87 billion to $93 billion. Profit blew away consensus, coming in at $10.30 a share on revenue of $88.9 billion. Estimates were for $1.51 per share on sales of $81.2 billion. Apple crushed expectations as well and announced a […]
U.S. goods trade deficit narrows amid signs the global flow of goods is improving
The United States’ trade deficit in goods fell sharply in June as exports rebounded following several months of decline, suggesting a recovery in global trade after being severely disrupted by the Covid-19 pandemic. The shrinking goods trade gap reported by the Commerce Department on Wednesday did not change expectations that the economy contracted at its […]
S&P 500 Rally Gets Thumbs Up From Companies Raising Forecasts
The first two weeks of U.S. earnings reports suggest the uncertainty caused by the pandemic is easing, supporting the continuing run higher for the S&P 500. The clearest sign of this turn to the better is the net number of companies raising their forecasts. The 10-day moving average is perched at the highest level in […]
Congress Has Supported Moves To Revive Domestic Semiconductor Manufacturing, Here’s What Needs To Happen Next
Last week the Senate voted overwhelmingly (96-4) to include an amendment to the National Defense Authorization Act (NDAA) that provided support to the American semiconductor industry. The amendment combined the earlier American Foundries Act and the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act. A nearly identical proposal was included in the House NDAA, so that bodes well as the […]
U.S. June New-Home Sales Surge to Highest in Almost 13 Years
By Vince Golle and Maeve Sheehey Months’ supply at current sales pace at almost four-year low Houses sold but not yet started rose to highest since 2017 (Bloomberg) — New-home sales in the U.S. increased to an almost 13-year high in June, fueled by record-low borrowing costs and adding to evidence that residential real estate is a bright […]