The Eurozone’s industrial economy sank deeper into recession last month, according to the Hamburg Bank of Commerce’s purchasing managers index (PMI).
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BEWARE OF AI-DRIVEN INFLATION, INVESTMENT MANAGERS WARN
Global stock markets, still high on euphoria and fear of missing out over artificial intelligence (AI), may be ignoring a key and growing risk: a rise in inflation driven partly by the tech frenzy itself, money managers are warning.
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VENEZUELA’S OIL: BOON OR BOONDOGGLE?
Meeting with leaders of major oil companies last week, Donald Trump urged them to spend $100 billion to rehabilitate Venezuela’s decrepit oil industry, promising them riches in return.
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EXPECT THREE FED RATE CUTS BY JULY, MOODY’S CHIEF ECONOMIST SAYS
To counter labor market weakness and respond to political pressure, the U.S. Federal Reserve will cut a quarter point from its key interest rate three times by midyear, Mark Zandi, chief economist at Moody’s Analytics has forecast.
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TRUMP WANTS INVESTORS BANNED FROM SINGLE FAMILY HOUSING MARKET
Donald Trump said he will ask the U.S. Congress to ban large institutional investors from buying single-family homes.
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CAR BUYERS ARE TAKING OUT EIGHT-YEAR LOANS
U.S. car prices have grown by 33 percent since the COVID War began and the average selling price surpassed $50,000 this fall, compared to $38,000 in early 2020, according to pricing standard Kelley Blue Book.
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U.S. MANUFACTURING SECTOR IS STILL SHRINKING
In December, the U.S. industrial economy contracted for the 10th consecutive month, according to the Institute for Supply Management’s manufacturing purchasing managers index (PMI).
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U.S. MORTGAGE RATE FALLS BELOW 6 PERCENT
The average national interest rate on a 30-year, fixed-rate mortgage dropped to 5.99 percent Friday after Donald Trump posted on social media that he will mandate government-linked home loan agencies Fannie Mae and Freddie Mac to buy $200 billion in mortgage bonds.
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U.S. SERVICE ECONOMY GROWS IN DECEMBER
The U.S. services sector continued growing in December, aided by holiday spending, the Institute for Supply Management’s purchasing managers index (PMI) showed.
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WEAK DECEMBER CAPS WORST YEAR FOR HIRING SINCE 2020
The U.S. economy added 50,000 nonfarm jobs in December, closing out the worst year for hiring since the COVID panic in 2020.