On 20 September, gold surpassed $2,600 for the first time after the U.S. Federal Reserve reduced its interest rates by 50 basis points two days earlier.
Tag: U.S. economy
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DON’T BET ON IT: CEOS SAY REMOTE WORK IS ENDING
Seventy-nine percent of CEOs told KPMG’s 2024 CEO Outlook Survey that remote work will largely be over within two years.
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SPOTLIGHT: BIGS GETTING BIGGER
Danish logistics provider DSV will pay $12 billion to acquire DB Schenker, which is the air, road, and sea freight services and logistics supply chain division of Germany’s Deutsche Bahn railroad.
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INTEREST ON U.S. NATIONAL DEBT TOPS $1 TRILLION
As of 12 September, the U.S. treasury had paid $1.049 trillion in interest on the national debt this fiscal year, 30 percent more than last year at this time as the U.S. Federal Reserve has held interest rates at their highest for the last 14 months.
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THE U.S. HAS MORE JOB APPLICANTS THAN AVAILABLE JOBS
Posted job requisitions increased 7 percent during the first six months of 2024, year on year, while job applications rocketed up 31 percent, according to a study released last week by hiring website Workday.
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ECONOMIC UPDATE – MARKET OVERVIEW
Every eye on Wall Street is on how much the Federal Reserve will lower interest rates after its meeting tomorrow. Again, not “if” but how much! The guess on The Street, according to a CNBC Fed survey, is a 25-basis-point reduction.
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SPOTLIGHT: BIGS GETTING BIGGER
Blackstone is buying AirTrunk, the largest operator of data centers in the Asia-Pacific region, for $16.1 billion, the private equity firm’s largest investment ever in the region.
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TOP TREND 2023: OFFICE BUILDING BUST
Buildings constructed for life sciences companies—decked out with labs, clean rooms, sensitive ventilation systems, and other custom details—were prime investments as the COVID War raged.
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TOP TREND 2024, BANKS GO BUST: BANKS’ PROFITS RISE BUT SO DO POORLY PERFORMING LOANS
The bank sector’s profits rose 11 percent in this year’s second quarter, compared to the first, the Federal Deposit Insurance Corp. (FDIC) reported. Profits totaled $71.5 billion across the survey’s 4.539 institutions.
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SPOTLIGHT: RETAIL ON THE ROPES
Discount retailer Dollar General saw its share price fall 15 percent early this month after it reduced its 2024 forecast for existing store sales growth.