US Services Activity Expands at Fastest Pace Since Early 2023
Vince Golle Bloomberg October 3, 2024 US service providers expanded in September at the fastest pace since February 2023, driven by a flurry of orders and stronger business activity. The Institute for Supply Management’s index of services advanced 3.4 points to 54.9 last month, the group said Thursday. Readings above 50 indicate expansion, and the latest figure […]
Treasury Market Expecting Fed Cuts Muting Reaction
Ira F. Jersey and Will Hoffman Bloomberg Intelligence September 20, 2024 The Federal Reserve’s downward shift in the dot-plot from the summary of economic projections has been fully priced by the market, but we think this outcome is less likely than an early end to cuts, or deeper cuts than are priced. The 2-year/10-year yield […]
Yellen says U.S. economy remains solid, on path to ‘soft landing’ with no meaningful layoffs
Rebecca Picciotto CNBC September 7, 2024 Treasury Secretary Janet Yellen said that she believes the U.S. economy is healthy and that recent months of cooler jobs data is a signal of a soft landing, not a recession. Yellen said the U.S. is not seeing meaningful layoffs and the economy is “deep into a recovery.” U.S. […]
US REACT: Mixed August Jobs Boost Odds of Smaller September Cut
Anna Wong, Stuart Paul, Eliza Winger, Estelle Ou Bloomberg September 6, 2024 OUR TAKE: August’s jobs report is a mixed one: The unemployment rate fell on a rounded basis, but headline nonfarm payroll gains disappointed. Moreover, the large downward revisions to prior data means that — adjusting for the BLS’s outdated factors for jobs created […]
US INSIGHT: AI Driving a Productivity Boom? Early Evidence – Yes
David Wilcox Bloomberg August 16, 2024 Over the past four quarters, the US has enjoyed a solid run of real GDP growth. That could be a statistical blip that will be revised away as the Bureau of Economic Analysis refines its estimates. But if it survives, it will be a surprising development — because over […]
Steadfast US Consumer, Job Market Allay Concerns About Economy
Vince Golle Bloomberg August 15, 2024 Steadfast US Consumer, Job Market Allay Concerns About Economy ▪ Retail sales increased in July by most since early 2023 ▪ Jobless claims remain low, but manufacturing data are weak Fresh readings on retail spending and unemployment benefits quelled some of the restiveness about the US economy, parts of […]
How Apple could double its revenue growth, according to top analyst Laura Martin
Alex Harring CNBC July 10, 2024 Needham sees Apple doubling its revenue growth by building out an advertising business. Analyst Laura Martin said the big technology company’s single-digit revenue growth rate feels “increasingly at risk” over a three-year time horizon. Instead, she said the personal technology giant should follow fellow megacap tech titan Amazon’s lead in […]
Starbucks Will Get a Jolt. Its Stock Is a Buy.
Evie Liu Barron’s June 14, 2024 Starbucks is brewing plans for a turnaround after surprisingly weak second-quarter earnings. Same-store sales at the world’s largest coffee chain declined 3% in North America and 6% in international markets, the result of soft demand and more competition in China. The stock, which has slumped almost 17% this year, […]
Goldman’s Kostin Says US Earnings Bar Is Set Highest Since 2021
Sagarika Jaisinghani Bloomberg July 01, 2024 Corporate America faces the highest earnings bar in almost three years as it prepares to report second-quarter results, according to Goldman Sachs Group Inc. strategists. Single-stock analysts predict profits at S&P 500 firms rose 9% on average in the April-June period — the biggest year-over-year increase since the fourth […]
US Services Activity Expands by Most in More Than Two Years
Vince Golle Bloomberg June 21, 2024 S&P Global’s flash June gauge advanced to 55.1 from 54.8 Manufacturing index also rose, while price measures cooled US services activity picked up marginally early this month to the fastest pace in more than two years while the outlook improved on cooler price pressures and prospects for lower borrowing […]