Elon Musk’s two-year-old xAI startup has bought the Musk-owned X social media platform, formerly known as Twitter, for $45 billion in stock.
Tag: U.S. Economy
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INFLATION RISES TO 2.8 PERCENT IN FEBRUARY
The core Personal Consumption Expenditures Index, the inflation measure the U.S. Federal Reserve watches most closely, rose to 2.8 percent in February compared to 2.4 percent in January, according to the Bureau of Labor Statistics.
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CONSUMER SENTIMENT PLUNGES
Consumers’ view of the present and future state of the U.S. economy is cratering, according to the final March survey by the University of Michigan.
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U.S. FINANCIAL OUTLOOK IS DETERIORATING, MOODY’S WARNS
Donald Trump’s sweeping tariff regime will complicate efforts to manage the growing federal debt as high interest rates persist, Moody’s warned last week.
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ECONOMIC UPDATE—MARKET OVERVIEW
The cover of this week’s Trends Journal says it all. The reason gold prices are spiking is because those with a brain bigger than a pea—who are not devoted to their political party and are not locked in a narrow minded liberal/conservative, left wing/right wing container—see and understand the socioeconomic and geopolitical dangers ahead.
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SPOTLIGHT: BIGS GETTING BIGGER
Google is paying $32 billion in cash to buy Wiz, a noted cybersecurity startup. The purchase not only improves Google’s cloud services’ security but also leads the company beyond its search engine and Internet services businesses.
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TOP TREND 2024, OFFICE BUILDING BUST: SEATTLE DEVELOPER DEFAULTS ON $135 MILLION IN OFFICE BUILDING LOANS
Martin Selig Real Estate, a commercial property developer in Seattle, has defaulted on $135 million in loans against three office buildings after failing to secure refinancing.
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TOP TREND 2025: THE TRUMP CARD
One of our Top Trends for 2025 is “The Trump Card.” As the old Bronx saying goes, “Bullshit has its own sound.”
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GENERAL MILLS CUTS SALES OUTLOOK FOR THE CURRENT YEAR
General Mills, a major supplier of packaged and processed foods, now says its sales will decline by 1.5 to 2 percent in the current fiscal year, compared to its previous forecast of flat to a 1-percent increase.
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U.S. HOME SALES INCREASE AS BUYERS SURRENDER TO HIGHER INTEREST RATES
In February, home sales rose 4.2 percent above January’s level as more homes came up for sale and more buyers seem to acquiesce to the idea that interest rates will remain at their current level or could move higher in the months ahead.