The U.S. economy contracted to start the year, but a recession hardly appears imminent
PUBLISHED THU, APR 28 20221:27 PM EDT Jeff Cox Technically speaking, the negative economic growth in the first quarter looks like the U.S. is halfway down the road to recession. After all, the generally accepted definition of a recession is two consecutive quarters with a minus sign before the GDP number. A look under the […]
U.S. Economy Posts Surprise Contraction, Belying Solid Consumer
Thursday, April 28, 2022 07:22 AM By Olivia Rockema GDP declines an annualized 1.4% on huge rise in trade deficit Pace of consumer spending growth, business investment pick up (Bloomberg) — The U.S. economy shrank for the first time since 2020, reflecting an import surge tied to robust consumer demand. While the surprise contraction adds to […]
GDP Likely to Show ‘Misleading’ U.S. Weakness as Fed Plots Path
Wednesday, April 27, 2022 03:00 AM By Reade Pickert Projected 1.1% 1Q GDP growth belies solid consumer spending Income and spending report to show big impact of inflation (Bloomberg) — The U.S. economy’s latest report card — featuring fresh readouts on growth, inflation, spending and wages in the first three months of the year — […]
AmEx profit beats estimates as card spending rebounds
By Mehnaz Yasmin and Niket Nishant April 22 (Reuters) – American Express Co (AXP.N) on Friday topped first-quarter profit estimates as card spending rebounded from last year, dwarfing a jump in costs due to higher reward payouts. Expenses rose 34% to $9.06 billion on higher customer engagement costs, the company said, sending shares down nearly 2% in morning trading. […]
Amazon launches $1 billion fund to invest in warehouse technologies
POINTS Amazon on Thursday launched a $1 billion fund to invest in start-ups developing supply chain, logistics and fulfillment technologies. The first round of investments is going to a batch of companies working on technologies that can speed up deliveries and improve the safety of workers in its warehouses. In this article AMZN-67.95 (-2.21%) Robots transport […]
U.S. Consumers Are Holding Up Well as Rates Rise, Bank of America’s Moynihan Says
Bank sees strength in consumer spending and housing market ‘There is a lot of dry powder on the consumer side,’ CEO says BofA’s Moynihan: ‘A Lot of Dry Powder’ on Consumer Side By Katherine Doherty The U.S. consumer is holding up well as inflation rises and interest rates climb, Bank of America Corp. Chief Executive Officer Brian […]
Apple, Tesla, and 98 Other Growth Stocks That Are Getting Their Groove Back
Jacob Sonenshine -Barrons Updated March 24, 2022 8:16 am ET / Original March 24, 2022 2:30 am ET Apple stock fell 18% from Jan. 3 to March 14. Growth stocks like Apple and Tesla have had quite the time these past four months–retreating, then roaring. Now, they look like they are finding their footing as the economy looks like […]
Despite inflation, consumers may be stronger than investors expect
PUBLISHED THU, APR 14 20222:02 PM EDT | UPDATED THU, APR 14 20224:38 PM EDT CNBC Patti Domm @IN/PATTI-DOMM-9224884/ March retail sales were slightly weaker than expected, but the consumer may actually be stronger than the number suggests. Retail sales rose 0.5%, slightly below the 0.6% expected by economists surveyed by Dow Jones. Retail sales […]
Biden administration to resume leasing for oil and gas drilling on federal lands
PUBLISHED FRI, APR 15 20226:09 PM EDT | UPDATED FRI, APR 15 20228:23 PM EDT NBC NEWS | Josh Lederman and Zoë Richards The Biden administration said it will resume selling leases to drill for oil and gas on federal lands starting next week, but with a major reduction in the number of acres offered and an […]
A Recession in the US is still unlikely despite growth concerns, says the head of BlackRock’s $2.2 trillion iShares Investment Strategy Americas Unit
Higher inflation, weaker growth, and the Russia-Ukraine war have all materialized as market risks. BlackRock’s Gargi Chaudhuri shares her investing outlook and why the US should dodge a recession. Chaudhuri named five investments to make to hedge a portfolio against inflation. Late last year, BlackRock’s Gargi Chaudhuri, who heads up the firm’s iShares Investment Strategy […]