Tag: Economy

Ever gone on social media and wondered how somebody you know can afford that fancy apartment, car, vacation or even purse? Far from being unique, this is now the problem of not one but several generations. More people feel negatively about their finances after scrolling through social media than they do about their appearance, career,…

What does soaring economic uncertainty mean for the leisure brands/retailers industry? It’s not good, Bank of America analysts say.  “Our economists are now forecasting a mild recession in the second half of 2022, and we note the group of leisure brands and retailers we cover generally underperformed the S&P 500 during the 2008-2009 financial crisis.” But the…

Updated at 7:44 am EST U.S. equity futures extended declines Thursday, while the safe-haven dollar consolidated gains against its global peers and oil prices slumped, as investors reacted to white-hot June inflation reading that has re-set expectations for Fed rate hikes. Stocks were also hit by a weaker-than-expected second quarter earnings report from JPMorgan  (JPM)…

Updated at 8:04 am EST JPMorgan Chase & Co  (JPM) – Get JP Morgan Chase & Co. Report posted weaker-than-expected second quarter earnings Thursday as loan growth slowed amid inflation uncertainty in the world’s biggest economy and the bank set aside more than $1 billion to cover credit risk.  JPMorgan said earnings for the three months…

A potential recession will not spare many multinationals, that’s what investors who are liquidating their positions in tech giants seem to think.  Alphabet ( (GOOGL) – Get Alphabet Inc. Report), the parent company of Google, seems to prove them right. The Mountain View-based, California company is preparing for tough times. Indeed, Sundar Pichai, the CEO,…

Fear of recession abounds. The economy shrank 1.6% annualized in the first quarter, and many economists expect a contraction in the second quarter as well. So what stocks might be able to weather the carnage? “We note that food retail stocks, including grocers, mass discounters, warehouse clubs, and dollar stores, have mostly outperformed the S&P…

© Reuters. FILE PHOTO: Japan’s new Finance Minister Shunichi Suzuki wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, speaks at a news conference in Tokyo, Japan, October 5, 2021. REUTERS/Kim Kyung-Hoon TOKYO (Reuters) -Japanese Finance Minister Shunichi Suzuki said on Tuesday that it was “a little difficult” at present to confirm the definite…

Cannabis companies will have to wait a bit longer to get access to the banking they need as Congressional Republicans stand in the way.  The Secure and Fair Enforcement Act, also known as the SAFE Banking Act, was removed from the bipartisan China competition bill, the Competes Act, with Republicans arguing that the SAFE act…

The Richmond Manufacturing Index, similar to the purchasing managers’ index, is based on results of questionnaires sent to executives on their views of business conditions in manufacturing. Canva ContentsWhat Is the Richmond Manufacturing Index?Who Compiles the Richmond Manufacturing Index?What Is the Formula for the Richmond Manufacturing Index? Why Is the Richmond Manufacturing Index Important?When Is…

© Reuters. FILE PHOTO: Plastic letters arranged to read “Inflation” are placed on U.S. Dollar banknote in this illustration taken, June 12, 2022. REUTERS/Dado Ruvic/Illustration By Marc Jones LONDON (Reuters) – The world’s central bank umbrella body, the Bank for International Settlements (BIS), has called for interest rates to be raised “quickly and decisively” to…