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Tag: U.S. Economy
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U.S. NATIONAL DEBT TOPS $40 TRILLION
On 18 August, the U.S. national debt officially reached $40.05 trillion after the Treasury Department reported borrowing $432.3 in July to pay its bills.
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TRADERS ARE ABANDONING CRYPTO FOR AI IN PAST YEAR: REPORT
Some traders who were once excited about the potential for cryptocurrencies to surge in value and turn small investments into fortunes have begun abandoning crypto in favor of AI stocks, with one former crypto investor telling The Wall Street Journal that he feels like a “caveman who found fire.”
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MEN ARE LEAVING THE U.S. WORKFORCE, THREATENING SOCIAL STABILITY
The workforce participation rate among men ages 16 through 54 – the prime working age span – has fallen to 66.8 percent, the lowest since 1948, according to the Bureau of Labor Statistics.
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THE BULLS RETURN TO WALL STREET
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.
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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.