U.S. home sales in August fell 2.5 percent below July’s and 4.2 percent year on year, the National Association of Realtors (NAR) reported. Analysts had expected slightly better figures.
Tag: U.S. economy
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WILL FED’S RATE CUT HELP THE HARRIS CAMPAIGN?
The numbers show that the U.S. economy, while Joe Biden and Kamala Harris have been in the White House, is not gloom or doom.
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U.S. COMPANIES JUMP BACK INTO BOND MARKET
Days after the U.S. Federal Reserve cut its interest rates, corporations are jumping into the bond market with new issues that could total more than $25 billion in value yet this month, according to data from investment banks compiled by Bloomberg.
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FED CUTS RATES BY A HALF POINT
In its first interest rate reduction in four years, the U.S. Federal Reserve cut its policy rates by a half point last week, opting for a larger cut than the quarter-point drop that had been expected for most of this year.
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ECONOMIC UPDATE—MARKET OVERVIEW
On 20 September, gold surpassed $2,600 for the first time after the U.S. Federal Reserve reduced its interest rates by 50 basis points two days earlier.
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DON’T BET ON IT: CEOS SAY REMOTE WORK IS ENDING
Seventy-nine percent of CEOs told KPMG’s 2024 CEO Outlook Survey that remote work will largely be over within two years.
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SPOTLIGHT: BIGS GETTING BIGGER
Danish logistics provider DSV will pay $12 billion to acquire DB Schenker, which is the air, road, and sea freight services and logistics supply chain division of Germany’s Deutsche Bahn railroad.
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INTEREST ON U.S. NATIONAL DEBT TOPS $1 TRILLION
As of 12 September, the U.S. treasury had paid $1.049 trillion in interest on the national debt this fiscal year, 30 percent more than last year at this time as the U.S. Federal Reserve has held interest rates at their highest for the last 14 months.
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THE U.S. HAS MORE JOB APPLICANTS THAN AVAILABLE JOBS
Posted job requisitions increased 7 percent during the first six months of 2024, year on year, while job applications rocketed up 31 percent, according to a study released last week by hiring website Workday.
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ECONOMIC UPDATE – MARKET OVERVIEW
Every eye on Wall Street is on how much the Federal Reserve will lower interest rates after its meeting tomorrow. Again, not “if” but how much! The guess on The Street, according to a CNBC Fed survey, is a 25-basis-point reduction.