Companies whose third-quarter earnings reports disappoint investors are seeing their share prices drop more sharply than usual, the Financial Times reported.
Tag: U.S. economy
MORE AMERICANS FEELING THE FINANCIAL PINCH
Two in three Americans have seen their household expenses climb over the past 12 months, while only one in four says their household income has increased, according to a new poll from The Associated Press-NORC Center for Public Affairs Research.
ECONOMIC UPDATE MARKET OVERVIEW
As we had forecast in July, when the U.S. equity markets were still rising high, they would decline sharply in September and October.
U.S. TREASURY HIRES SERIAL OFFENDER J.P. MORGAN TO POLICE BANK PAYMENT INTEGRITY
J.P. Morgan has signed a five-year contract with the U.S. treasury to audit the approximately 1.7 billion payments government agencies make each year to ensure that the payments are accurate and genuine, Wall Street on Parade (WSOP) reported.
EMPLOYER HEALTH INSURANCE COSTS RISE FASTEST IN 12 YEARS
The cost of employer-sponsored health insurance coverage is rising an average of 7 percent next year to about $24,000 per employee, the sharpest yearly increase since 2011, according to health care research organization KFF.
HOME SALES FALL TO SLOWEST PACE SINCE 2010
In September, home sales fell 2 percent from August and reached their lowest annual pace since October 2010, sunk by steadily rising interest rates through this year. Sales for the month declined 15.4 percent from the same month in 2022.
HOME FORECLOSURES INCREASE 28 PERCENT IN THIRD QUARTER
The number of home foreclosures across the U.S. grew 28 percent in this year’s third quarter, year over year, reaching 124,539, real estate research service ATTOM reported.
LATE LOAN PAYMENTS GROWING IN NUMBER
Persons who borrowed during and after the COVID War are now falling behind in their payments “at unusually high rates,” according to the Financial Times.
RISING BOND YIELDS EVENTUALLY WILL SWAMP CONSUMERS, BLACKSTONE CHIEF WARNS
Rising yields on the 10-year U.S. treasury bond, now brushing up against 5 percent, will eventually crimp consumer spending and slow the economy, Jonathan Gray, president of Blackstone Group, the world’s largest asset manager, said last week in a Financial Times interview.
CONFERENCE BOARD’S ECONOMIC INDICATOR SHOWS RECESSION AHEAD
The Conference Board’s Leading Economic Index, which tracks business cycles, fell 0.7 percent to 104.7 in September, its 18th month in a row showing declining economic activity.