As we had forecast back in November 2022, the U.S. equity markets would climb in 2023, with the S&P 500 expected to increase at least 16 percent.
Tag: U.S. economy
SPOTLIGHT: OFFICE BUILDING BUST: WORSE TO COME FOR OFFICE SECTOR
While the Office Building Bust is very old news for Trends Journal subscribers—we had forecast this three years ago—it is now just making it into the mainstream news.
EV SALES SLUMP IN U.S., EUROPE
Even though electric vehicle (EV) sales in the United States topped 300,000 for the first time in this year’s third quarter, sales of electric vehicles (EVs) have stalled in Europe and the U.S., prompting manufacturers to slow or halt production and dealers to slash prices to move the cars off their lots.
TROUBLED COMMERCIAL PROPERTY LOANS REACH 10-YEAR HIGH
The value of commercial property loans that have missed at least one payment grew by $4 billion, about 30 percent, in this year’s third quarter, data service BankRegData said. The total value of delinquent loans so far this year is about $10 billion.
YOUNGER AMERICANS FALLING DEEPER INTO DEBT; DELINQUENCIES INCREASING
Americans under age 50 were more than $9.5 trillion in debt in this year’s third quarter, compared to about $9.3 trillion in the preceding three months, marking the largest quarterly increase since 2022’s fourth quarter, U.S. Federal Reserve data shows.
FED NOT READY TO DECLARE VICTORY OVER INFLATION, POWELL SAYS
U.S. inflation is not yet tamed and the U.S. Federal Reserve is more likely to raise interest rates than cut them if any change is needed, Fed chair Jerome Powell said in a 9 November speech to a conference of the International Monetary Fund.
ECONOMIC UPDATE – MARKET OVERVIEW
What a difference a month makes. The U.S. equity market continues its November spike.
WALL STREET’S TOP BANKERS ARE BAILING OUT OF BANK STOCKS
James Gorman, Morgan Stanley’s CEO for the past 12 years, has sold $48 million worth of his hoard of Morgan stock so far this year, bringing the total he has cashed in to $78 million. Ted Pick, who will take over for Gorman in January, has sold $30 million worth of his shares, according to the Financial Times.
WHEN THE ECONOMY FALLS JOBS GO WITH IT
The U.S. job numbers reported last week, as we have detailed, were weak... as they are throughout much of the world.
BANKRUPTCIES RISE AGAIN IN THIRD QUARTER
In this year’s third quarter, 182 major U.S. businesses filed bankruptcy, according to S&P Global Market Intelligence.