Consumers now see a sunnier economic future than they did in October and November, according to the closely watched University of Michigan monthly survey of consumer sentiment.
Tag: U.S. economy
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AVAILABLE JOBS IN OCTOBER WERE FEWEST SINCE 2021
In October, there were fewer jobs available than at any time since early 2021, Bloomberg reported.
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U.S. ECONOMY GROWS 199,000 NEW JOBS IN NOVEMBER
American businesses took on 199,000 new workers last month, a figure reflecting the return to work by auto workers after strikes were settled, the Bureau of Labor Statistics (BLS) reported.
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SPECULATORS BET ON BITCOIN’S RETURN
Crypto fans are betting cryptocurrencies’ troubles are fading now that the U.S. has clamped down on Binance and shut down FTX, two high-flying crypto trading platforms, and successfully prosecuted Changpeng Zhao and Sam Bankman-Fried, their respective CEOs.
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RATE CUTS WILL BEGIN LATER THAN MARKETS THINK, ECONOMISTS SAY
Speculators in interest rate futures are betting that the U.S. Federal Reserve will begin paring back its interest rates before summer; many are wagering that the cuts will begin in March.
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ECONOMIC UPDATE – MARKET OVERVIEW
Gregory Mannarino got it right. In his article this week he states that “Currently every single forward-looking economic indicator is pointing towards dramatically worsening economic conditions moving forward, and this IS good news for the stock market. While it may seem or even sound counterintuitive, in today’s environment the faster the economy craters the higher the stock market will go.”
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PENDING HOME SALES CRASH TO RECORD LOW
Homes under signed contracts for sale slipped 1.5 percent in October from September as the traditional home-buying season ended, the National Association of Realtors (NAR) reported.
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CONSUMERS GIVE RETAILERS A LUMP OF COAL FOR THE HOLIDAYS
Initial reports show that consumers spent more than last year over the frenzied “Black Friday” shopping weekend following the Thanksgiving holiday, but only because prices were higher, The Wall Street Journal reported.
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HEALTHCARE LEADS U.S. JOB GROWTH
Thirty percent of new jobs created in the U.S. in the six months through 31 October were in healthcare, the Labor Department reported.
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THIRD-QUARTER GROWTH ESTIMATE REVISED UPWARD
In this year’s third quarter, the U.S. economy grew by a robust 5.2 percent, adjusted for inflation, not the 4.9-percent clip estimated earlier, the Commerce Department said in a statement.