U.S. consumer spending grew 0.4 percent in September, more than the 0.3 percent expected by Dow Jones and much stronger than August’s estimated 0.1-percent gain.
Tag: U.S. economy
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DEFICIT TOPS $1.8 TRILLION AS INTEREST PAYMENTS SURPASS $1 TRILLION
The U.S.’s annual budget deficit grew by $138 billion, or 8 percent, in the fiscal year that ended 30 September to $1.833 trillion.
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ASML SINKS CHIP STOCKS
On 16 October, Dutch tech firm ASML, which makes machines that make computer chips, warned of a slow year ahead in the semiconductor industry, outside of sales related to artificial intelligence (AI).
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ECONOMIC UPDATE – MARKET OVERVIEW
Not a peep from the Presstitutes—media whores who get paid to put out by their Corporate Pimps and Government Whore Masters—that gold prices keep hitting record highs.
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SPOTLIGHT: BIGS GETTING BIGGER
BlackRock, the world’s richest private equity firm, has announced that it is managing about $11.3 trillion for investors, the most money it has ever had under its control.
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MEGABANKS REPORT DECENT THIRD-QUARTER RESULTS
JPMorgan Chase and Wells Fargo, two of the “Big Four” U.S. banks reported lower profits in the third quarter but still exceeded analysts’ forecasts.
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BIG BANKS SEE LOWEST INTEREST INCOME SINCE LATE 2022
Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo are expected to report collective net interest income of less than $62 billion in this year’s third quarter, analysts told the Financial Times.
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HURRICANE, BOEING STRIKE HIKE JOBLESS RATE TO ONE-YEAR HIGH
In the week ending 3 October, jobless workers filed 258,000 new claims for unemployment benefits, the U.S. Labor Department said, the most since early August 2023.
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INFLATION TICKS DOWN BUT EXCEEDS FORECAST
The pace of U.S. inflation eased from 2.5 percent in August to 2.4 percent in September, the Bureau of Labor Statistics reported.
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THE COST OF HAVING CREDIT CARDS IS STILL GOING UP
Even though the U.S. Federal Reserve has begun lowering its benchmark interest rates, credit card holders might not see much relief, The Wall Street Journal reported.