People ate fewer Goldfish crackers and Pepperidge Farm cookies in this year’s first quarter, dropping revenue 2 percent in Campbell Soup’s snacks division, the company reported.
Tag: U.S. economy
APARTMENT BOOM GOES BUST
From the COVID War through about the middle of last year, U.S. builders raced to keep up with a seemingly insatiable demand for apartments even as rents rose steadily. Builders bought land, planned projects, and began to seek financing.
MOST MIDDLE-CLASS AMERICANS SAY THEY ARE FINANCIALLY INSECURE
Sixty-five percent of U.S. adults who qualify as middle class say they struggle financially and expect to do so for the rest of their lives...
U.S. ECONOMY TACKS ON ANOTHER 272,000 JOBS IN MAY
Employers took on another 272,000 workers last month, the U.S. Labor Department reported, well above the average of 232,000 over the preceding 12 months and the 190,000 that economists had expected.
ESG FUNDS BLEEDING CASH
As of June, U.S. investors have yanked a net $40 billion out of so-called ESG funds this year, including a record $14 billion in April, Barclays said. In Europe, the funds lost a net $1.9 billion in the same month.
ECONOMIC UPDATE – MARKET OVERVIEW
The Street is patiently waiting for tomorrow’s decision after the Federal Reserve’s two-day meeting and hope for a statement that will help them better guess the central bank’s next move on interest rates.
SPECIAL REPORT: THE AMERICAN REAL ESTATE BLUES
Hundreds of thousands of American homeowners find they owe far more on their homes than the homes are worth. More than a million others face a huge leap in interest rates on their adjustable-rate mortgages.
CONSUMER BLUES: KOHL’S REPORTS WEAKER SALES
The Kohl’s department store chain reported sales fell 4.4 percent in its most recent quarter, a decline 10 times worse than analysts had forecast.
HOME PRICES ROSE 6.5 PERCENT IN MARCH, YEAR ON YEAR
U.S. mortgage interest rates slipped lower in March, boosting demand for the relatively small number of homes for sale.
PENDING HOME SALES FALL TO THEIR FEWEST IN FOUR YEARS
In April, the number of signed contracts for the purchase of existing homes fell 7.7 percent compared to March, plunging to its lowest volume since April 2020 at the beginning of the COVID War, the National Association of Realtors (NAR) reported.