By Martin Z. Braun and Amanda Albright Revenue starting to rebound as nation emerges from lockdown Yet states still expect big shortfalls with Congress stalling (Bloomberg) — State tax revenues in some parts of the U.S. are rebounding as the economy emerges from the coronavirus lockdown, a positive sign for governors and mayors who had been bracing for […]

After a record-setting July, the housing market still shows no sign of cooling off. Sales of existing homes rose 2.4% to a seasonally adjusted annualized rate of 6 million units, according to the National Association of Realtors. Sales were 10.5% higher compared with August 2019. This is the highest sales pace since December 2006, before […]

The Conference Board leading economic indicator index shows that the economy may have recouped more than half of its lost output during the pandemic, which justifies the stock market rally to this point. From here, though, gains may be more challenging given the uncertainties of further fiscal stimulus and the upcoming presidential election. The recovery in the leading […]

By John Ainger Brighter U.S. inflation outlook is at odds with Europe, Japan Fed’s new target of 2% average price gains in traders’ focus (Bloomberg) — The U.S. is emerging as an early favorite in the all-out showdown to rekindle inflation in the world’s major economies. With the Federal Reserve planning to hold interest rates near […]

(Bloomberg) — In describing this year’s bifurcated stock market, pundits have often found it easier to offer labels than explanations. Tech is surging while banks fall. Growth is rising as value drops. Big companies thrive while small ones struggle. Each gets part of the story right. None quite names the organizing principle. Now, someone says […]

(Bloomberg) — The global economic slumpwon’t be as sharp as previously feared this year, though the recovery is losing pace and will need support from governments and central banks for some time yet, according to the OECD. The world economy will shrink 4.5% this year, less than the 6% forecast in June, the Paris-based institution said […]

In the first CNBC Fed Survey since the Federal Reserve announced its new, more dovish monetary policy strategy, respondents now forecast no rate hikes from the central bank until 2023. The results are a potential first sign that the Fed’s new strategy of allowing inflation to run above its 2% target for an unspecified time have had an […]

By Travis J. Tritten Deloitte to partner with companies on commercial technology Prototype is already handling initial AI projects (Bloomberg Government) — The Pentagon’s artificial intelligence center is beginning to build out cloud platforms that could allow developers across the military to create uses for the cutting-edge technology. A prototype of the cloud is being built […]

By Mark Gurman (Bloomberg) — Apple Inc. Chief Executive Officer Tim Cook and his top deputies are focusing greater attention on developing a new generation of leaders to eventually run some of the iPhone maker’s most important divisions such as hardware development, services and marketing. As Cook begins his 10th year at the helm, his management group is […]

Job openings rose 10% in July to a pandemic high even though the rate of hiring saw a sharp slump, according to a Labor Department report Wednesday. The total for available positions hit 6.6 million for the month, above the 6 million expected from economists surveyed by FactSet. The estimate effectively would have been no […]