Consumers spent $900 billion more online in 2020. Here’s who will keep the biggest gains
Consumers across the globe spent $900 billion more at online retailers in 2020 compared with the prior two-year trend, according to a report released Tuesday by the Mastercard Economics Institute.
Service Industries in U.S. Expand at Fastest Pace on Record
(Bloomberg) –U.S. service providers experienced the fastest growth on record in March as measures of business activity and orders advanced to new highs. The figures from the Institute for Supply Management on Monday underscore how looser business restrictions and increasing economic activity are igniting a rebound in sectors hardest hit by the pandemic. The ISM’s services […]
Microsoft wins U.S. Army contract for augmented reality headsets, worth up to $21.9 billion over 10 years
The U.S. Army said Wednesday that Microsoft has won a contract to build more than custom HoloLens augmented reality headsets. The contract for over 120,000 headsets could be worth up to $21.88 billion over 10 years, a Microsoft spokesperson told CNBC. Microsoft shares moved higher after the announcement. The stock was up 1.7% to $235.77 per share […]
U.S. manufacturing sector index races to 37-year high in March
A measure of U.S. manufacturing activity soared to its highest level in more than 37 years in March, driven by strong growth in new orders, the clearest sign yet that a much anticipated economic boom was probably underway. The Institute for Supply Management (ISM) said on Thursday its index of national factory activity jumped to […]
The economy is expected to boom in the second quarter, and that’s good news for stocks
The nation’s economic growth is in for a boost in the second quarter, as parts of the economy most impacted by the pandemic reopen. Never before has the service sector led the U.S. into a recession or so many trillions of dollars in stimulus have been applied. But with more Americans vaccinated and more states reopening activities, the […]
UBS upgrades Apple to a buy — here are the 3 reasons why
LONDON — UBS on Wednesday upgraded Apple stock to a buy rating and raised its price target from $115 to $142 per share. Apple shares closed Tuesday’s session at $119.90, down 9.64% year to date, with Big Tech having taken the brunt of the market jitters on rising bond yields. In a new research note, UBS gave three fundamental reasons […]
Biden infrastructure plan seeks hundreds of billions to beef up America’s tech prowess
President Joe Biden wants to dramatically expand internet access to Americans with a $100 billion investment as part of his new $2 trillion infrastructure plan unveiled on Wednesday. The proposal also includes investments in the electric vehicle market, which the Biden plan bills as a job creator, and in research and development programs. The plan seeks to […]
JPMorgan names Amazon a top pick, estimates 45% rally in the next 12 months
PUBLISHED MON, MAR 29 202110:17 AM EDTUPDATED MON, MAR 29 202110:21 AM EDT Maggie Fitzgerald@MKMFITZGERALD Amazon CEO Jeff Bezos Alex Wong | Getty Images JPMorgan just named Amazon a top pick for 2021, expecting the e-commerce giant to rally nearly 45% in the next year. The Wall Street firm — which has an overweight rating […]
Fed Keeps Zero-Rate Outlook, Sees Inflation Bump Short-Lived
Wednesday, March 17, 2021 12:09 PM By Craig Torres and Matthew Boesler Central bank sees inflation settling back after jump this year Seven officials see higher rates in 2023, up from five before (Bloomberg) — Federal Reserve officials continued to project near-zero interest rates at least through 2023 despite upgrading their U.S. economic outlook and the mounting inflation […]
China exports surged late last year as consumer recovery picked up steam in U.S., other nations
The economic recovery in the United States and other wealthy nations helped China’s exports bounce back in a big way last year, according to new research. Asia’s share of global exports increased in the third and fourth quarters last year, due mainly to China, while the export share of North American nations didn’t recover, according […]