On 20 August, the U.S. dollar fell to its lowest level this year as investors prepared for the U.S. Federal Reserve to cut its key interest rate next month.
Tag: U.S. economy
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LABOR DEPARTMENT GIVES MONEY JUNKY FRIENDS INSIDE INFORMATION
News that the U.S. Labor Department had slashed the number of jobs created from April 2023 through last March reached a handful of Wall Street firms 15 minutes before the report became public.
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LABOR DEPARTMENT CUTS 12-MONTH JOB GAINS BY 818,000
The U.S. economy created 818,000 fewer nonfarm jobs from 1 April, 2023, through 31 March of this year than previously estimated, the labor department reported in its yearly revision of employment figures.
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POWELL: THE TIME HAS COME
U.S. Federal Reserve chair Jerome Powell virtually guaranteed the central bank will cut its key interest rates when it meets in mid-September.
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ECONOMIC UPDATE – MARKET OVERVIEW
What in the world is going on? Go to the Financial Times, Wall Street Journal, CNN, BBC, etc., and read all about it.
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HOUSING SALES INCREASE IN JULY, PRICES RISING
In July, the number of closed home sales rose 1.3 percent from June, reversing a four-month trend of decreasing sales, the National Association of Realtors (NAR) reported.
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SPOTLIGHT: BIGS GETTING BIGGER
Does Mars really like Pringles Potato Chips that much? Food conglomerate Mars Inc. is paying a whopping $36 billion for Kellanova, maker of the stackable potato chip, PopTarts, and Eggo waffles, among other snacks.
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BATTERY COMPANY TO BUILD $1.4-BILLION PLANT IN NORTH CAROLINA
Natron Energy, a $300-million startup developing a novel battery technology based on sodium, has announced plans to build its first commercial-scale factory, a $1.4-billion project in North Carolina.
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SURGING POWER DEMAND REVIVES U.S. COAL, GAS INDUSTRIES
Data centers that power artificial intelligence (AI) are spiking demands for electricity and are projected to double 2022’s U.S. electricity demand before 2027.
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RETAIL SALES GREW BY 1 PERCENT IN JULY
July’s 1-percent expansion in the U.S. retail economy was the largest month-to-month gain since early 2023, the commerce department reported, even as consumers coped with high interest rates and rising prices.