Apple overtakes android to take overtake 50% share of phones used in the US.
Source: Financial Times by Patrick McGee Apple has overtaken Android devices to account for more than half of smartphones used in the US, giving the iPhone maker an edge over its rival as it pushes into sectors including finance and healthcare. The 50 per cent landmark — the iPhone’s highest share since it launched in […]
Wharton professor Jeremy Siegel says most inflation data is coming in below expectations and hawkish Fed is out of step with economic reality
Source: Insider, September 2, 2022 Inflation is improving and the Fed’s hawkish view is at odds with the economy, Jeremy Siegel said. He noted that 26 of 27 inflation indicators have been below expectations in the last month. It could mean the Fed won’t have to raise rates as much as many observers are expecting. […]
The Bottom 50% of Americans Are Building Wealth Even as Inflation Bites
Monday, August 29, 2022 10:40 AM Source: Bloomberg by Paulina Cachero In an eight-minute speech last week that sent stock markets tumbling, Federal Reserve Chair Jerome Powell echoed what he’s said before about the importance of containing surging consumer prices: “The burdens of high inflation fall heaviest on those who are least able to bear them.” Yet data […]
US Companies Added 132,000 Jobs in August, New ADP Data Show
Wednesday, August 31, 2022 05:25 AM Source: Bloomberg by Reade Pickert US companies increased headcount at a relatively sluggish pace in August, according to a revamped private report that suggests hiring is downshifting in an economy buffeted by high inflation and rising interest rates. Businesses’ payrolls rose 132,000 this month after a nearly 270,000 gain in […]
US Consumer Confidence Advances to Highest Level Since May (1)
Tuesday, August 30, 2022 07:08 AM Source: Bloomberg By Olivia Rockeman US consumer confidence rose by more than forecast in August to the highest since May, suggesting that Americans are growing more optimistic about the economy amid falling gas prices. The Conference Board’s index increased to 103.2 from a downwardly revised 95.3 reading in July, the first […]
U.S. labor market defies interest rate hikes as job openings rise high in July
August 30, 202211:31 AM PDT Source: Reuters by Lucia Mutikani U.S. job openings increased in July and data for the prior month was revised sharply higher, pointing to persistently strong demand for labor that is giving the Federal Reserve cover to maintain its aggressive interest rate increases. The Labor Department’s Job Openings and Labor Turnover […]
North American companies send in the robots, even as productivity slumps
August 29, 20224:09 AM PDT Reuters by By Timothy Aeppel North American companies snapped up a record number of robots in the first half of this year as they struggled to keep factories and warehouses humming in the face of an extremely tight labor market and soaring compensation costs. Companies ordered a record 12,305 machines in the second […]
‘Inflation Fever’ Is Finally Breaking — But Central Banks Won’t Stop Hiking Rates
Sunday, August 28, 2022 02:30 PM Source: Bloomberg by Rich Miller and Enda Curran Global inflation is finally coming off the boil, even if it’s set to remain far too hot for the liking of the world’s central bankers. As economic growth slows, prices for key raw materials — from oil to copper and wheat — […]
US Consumer Sentiment Rises to Three-Month High on Easing Prices
Friday, August 26, 2022 07:00 AM Source: Bloomberg, by Olivia Rockeman US consumer sentiment rose more than expected in August as year-ahead inflation expectations eased, suggesting Americans are growing more optimistic as gas prices continue to drop. The University of Michigan’s final sentiment index climbed to 58.2, the highest since May, from 51.5 in July, […]
US Corporate Profits Soar, Taking Margins to Widest Since 1950
Thursday, August 25, 2022 08:42 AM Source: Bloomberg By Reade Pickert A measure of US profit margins has reached its widest since 1950, suggesting that the prices charged by businesses are outpacing their increased costs for production and labor. After-tax profits as a share of gross value added for non-financial corporations, a measure of aggregate […]