Investors once again are shrugging off concerns that AI will wipe out the software industry and that AI-related stocks are overvalued and buying back into tech shares, the Financial Times reported.
Tag: U.S. Economy
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U.S. GOVERNMENT’S LONG-TERM BORROWING COST HIGHEST IN 25 YEARS
To sell its latest round of 30-year treasury bonds last week, the U.S. treasury had to offer the highest interest rate since 2001.
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RETAIL SALES DECLINE IN JULY, FIRST TIME SINCE OCTOBER
In July, U.S. retail sales fell 0.6 percent, measured in dollars, marking the first retreat in nine months and the largest drop in 14 months.
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PRODUCER PRICE INFLATION WAS UNCHANGED IN JULY
The prices factories charge wholesalers and similar customers for their products were unchanged in July after falling 0.1 percent in June.
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U.S. RATE OF INFLATION SLOWS IN JULY
Despite the Iran War’s turmoil, U.S. inflation slowed to 3.4 percent last month after running at 3.5 percent in June and 4.2 percent in May.
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MARKET OVERVIEW
Retail sales in July slipped 0.6 percent from June’s level, the commerce department reported last week, to mark the first decline in sales since last October.
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U.S. CREDIT CARD DEBT WAS $1.26 TRILLION IN THE SECOND QUARTER
Americans added $21 billion to their credit card balances over April, May, and June this year, bringing the total debt to $1.26 trillion in this year’s second quarter, just shy of last year’s record $1.28 trillion, the Federal Reserve Bank of New York reported.
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CORPORATE CEO PAY SOARS, WEALTH GAP WIDENS
Elon Musk’s trillion-dollar payday has emboldened other corporate boards to increase pay for their own chief executives, according to a report by the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO).
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ECONOMIC UPDATE
As we have detailed, by the facts, the Presidential Reality Show® champion Donald Trump and his cast of Cabinet clowns keep lying about how and why the U.S. and Israel launched the illegal Iran War, who is winning, who is losing, when it will end, who is paying the price…
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U.S. ANNUAL BUDGET DEFICIT BIGGEST IN FIVE YEARS
The U.S. treasury’s deficit for fiscal 2027 rose to $1.8 trillion by the end of July as Medicare costs and interest payments on the national debt both increased.