Job seekers wait in line to speak with representatives during a Choice Career Fair in Los Angeles. Patrick T. Fallon | Bloomberg | Getty Images The number of Americans filing for unemployment benefits fell last week, pointing to continued labor market strength, though applications for the prior week were much higher than initially estimated. Initial […]
Tag: Economy
Coronavirus could bring jobs, manufacturing back to the US
Wilbur Ross Mike Blake | Reuters The fast-spreading coronavirus has infected thousands of people in China and raised fears about a global pandemic — and that could have a positive impact on the U.S. economy, Secretary of Commerce Wilbur Ross said Thursday. Ross said in a Fox Business Network interview that the disease, which Chinese […]
US GDP Q4 2019 first reading rose only 2.1%
A worker attaches a wiring harness to the chassis of an X model SUV at the BMW manufacturing facility in Greer, South Carolina, November 4, 2019. Charles Mostoller | Reuters WASHINGTON — The U.S. economy grew 2.1% in the fourth quarter, closing out a year in which gross domestic product decelerated to its slowest pace […]
Bank of England holds key interest rate steady
Mark Carney, the outgoing Governor of the Bank of England. Matt Dunham | WPA Pool | Getty Images The Bank of England (BOE) on Thursday held interest rates following Governor Mark Carney’s final monetary policy meeting. Sterling jumped 0.5% against the dollar to trade at around $1.3084 after the central bank’s Monetary Policy Committee (MPC) […]
Fourth quarter GDP could show economy entered a slower growth patch at year-end
Economic growth in the final quarter of the year is expected to be on par with the third quarter’s 2.1%, but it is also likely to herald the start of a slower trend that could continue through the first half of this year. Fourth quarter growth is expected to have been 2.1%, according to Dow […]
December pending home sales fall a wider-than-expected 4.9%
Pending home sales, which measure signed contracts, not closings, dropped 4.9% in December compared with November, as the supply of homes hit a record low during the month. Sales were projected to rise 1% month to month. December is historically the slowest month of the year in the housing market. Despite the month-to-month drop, though, […]
Falling bond yields on coronavirus may stunt bank profits
U.S. Treasury yields are sliding, and that could negatively impact financial institutions, CNBC’s Jim Cramer said Monday. “Worries about a worldwide slowdown mean people will buy [U.S.] Treasurys, and when people buy Treasurys, interest rates go down,” the “Mad Money” host said. “Lower long-term rates translate to lower earnings for the banks, which is why […]
US new home sales drop in December for the third straight month
Home under construction in Montgomery, Illinois. Daniel Acker | Bloomberg | Getty Images Sales of new U.S. single-family homes unexpectedly fell in December, likely held down by a shortage of more affordable homes, but the housing market remains supported by lower mortgage rates. The Commerce Department said on Monday new home sales slipped 0.4% to […]
Business survey suggests US labor market may have peaked
A “We’re Hiring” sign at a Target location in New York, December 14, 2019. Scott Mlyn | CNBC There is an even balance in the share of U.S. businesses reporting decreases and increases in employment for the first time in a decade, a survey showed on Monday, the latest suggestion that the labor market has […]
Intel, American Express, Disney, Broadcom & more
Intel (INTC) – Intel reported quarterly revenue of $1.52 per share, beating the consensus estimate of $1.25. The chipmaker’s income additionally exceeded Wall Street forecasts, helped by an enchancment in private laptop and knowledge middle demand. Intel additionally gave an upbeat current-quarter outlook, in addition to asserting a 5% dividend enhance. Walt Disney […]
