Speaking on 22 August at the global central bankers’ retreat in Wyoming, Jerome Powell, chair of the U.S. Federal Reserve, indicated the Fed will probably cut its key interest rate next month.
Tag: U.S. Economy
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INVESTORS REDISCOVER THE S&P 500’S OTHER 493 STOCKS
With megatech stocks coming to be seen as overvalued, investors are turning their attention away from the “Magnificent Seven” giants—Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla—that have fueled U.S. equity markets’ long-running rally.
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TECH STOCKS TUMBLE ON FEARS THAT AI HAS BEEN OVERPLAYED
Tech stocks shed value last week after a Massachusetts Institute of Technology report said that only 5 percent of companies that have adopted artificial intelligence (AI) have made a profitable use of it and that half of corporate AI experiments have failed.
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ECONOMIC UPDATE – MARKET OVERVIEW
Last week the U.S. equity markets were tanking. What brought them down the most was the fear that we have long forecast that is now just becoming part of the mainstream narrative; over-investment in the AI sector and the fear of a Dot-com Bust 2.0.
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SPOTLIGHT: BIGS GETTER BIGGER
Gildan Activewear, which makes sweatshirts and other activity clothing, is buying underwear company Hanesbrands for $2.2 billion. When Hanesbrands’ debt is included, the deal’s value totals $4.4 billion.
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UNEMPLOYMENT CLAIMS SHRINK, AS DOES U.S. INDUSTRIAL OUTPUT
New applications for unemployment benefits fell by 3,000 in the most recent week to 224,000 from the week before. Economists polled by The Wall Street Journal had expected 229,000 new claims.
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SPECIAL REPORT: A BRAND NEW DEGREE IN COMPUTER SCIENCE AND NOT A JOB TO BE FOUND
For more than 20 years, young people have been hearing tech moguls preach the gospel of technology. Get a degree in computer science, students were told, and you will have a ticket to a six-figure salary, five-figure signing bonuses, and guaranteed job security.
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CRYPTO COMPANIES ARE RUSHING TO ISSUE STOCK
Energized by the friendly policies and personal enthusiasm of Donald Trump, crypto-related businesses are “lining up to go public,” Reuters reported, with the global value of cryptocurrencies remaining above $4 trillion.
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AMERICANS POUR RECORD AMOUNTS OF RETIREMENT FUNDS INTO STOCKS
The U.S. stock market’s seemingly unstoppable rise has persuaded more American workers to put more of their 401(k) retirement money into equities.
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ROBUST EARNINGS BUOY STOCK INVESTORS’ CONFIDENCE
As the current earnings season ends, companies listed in the Standard & Poor’s 500 index are “handily beating expectations” after the tariff war, a weakened job market, and tighter consumer spending had lowered forecasts, The Wall Street Journal reported.