In the week ending 1 August, new claims for unemployment benefits rose by just 1,000 from the week before, reaching 199,000.
Tag: U.S. Economy
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U.S. WORKERS’ SHARE OF GDP SHRANK IN SECOND QUARTER
Workers’ share of the American economy’s productivity fell to a record low of 52.9 percent in this year’s second quarter, the Bureau of Economic Statistics (BLS) reported, down from 53.7 percent in the year’s first three months.
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U.S. ECONOMY SHEDS 23,000 JOBS IN JULY, MAY, AND JUNE REVISED DOWN
The U.S. economy shrank by 23,000 nonfarm jobs in July, the Bureau of Labor Statistics (BLS) reported, surprising analysts in a Reuters poll who had expected to see a gain of 80,000.
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ECONOMIC UPDATE
Once again by the facts and only by the facts, the Trump administration keeps doing all it can to artificially prop up the equity markets and bring down oil prices since President Donald Trump and Israeli Prime Minister Benjamin Netanyahu launched the illegal Iran War on 28 February.
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U.S. TREASURY SECRETARY: WHAT K-SHAPED ECONOMY?
U.S. treasury secretary Scott Bessent declared an end to the K-shaped economy and the widening gap between America’s wealthy and everyone else in a 4 August CNBC interview.
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MARKET OVERVIEW
The three major U.S. stock indexes rallied Thursday and Friday to overcome Wednesday’s rout that sent the Dow Jones Industrial Average down more than 1,000 points to mark its worst day in 15 months.
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U.S. REGULATORS SEE DANGERS IN PRIVATE EQUITY’S CIRCULAR DEALS
U.S. regulators are alarmed by what they call “circular ownership” and a lack of transparency in financial structures increasingly used by private equity firms such as Apollo Global Management and KKR.
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DIVIDED FED COMMITTEE LEAVES INTEREST RATES UNTOUCHED
On 29 July, the Federal Reserve’s rate-setting Open Market Committee decided by a vote of 9 to 3 not to raise interest rates although inflation pressures from the Iran War persist.
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BIG OIL MAKES BIG PROFITS FROM IRAN WAR
ExxonMobil’s second-quarter profits more than doubled those of a year earlier to $14.5 billion as its 24 refineries around the world ran flat out replacing missing fuel supplies cut off by the Iran War.
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U.S. PUBLIC COMPANIES REPORT HEFTY SECOND-QUARTER PROFITS
Companies listed on the Standard & Poor’s 500 are on track to report second-quarter earnings – net profits after all expenses are paid – 47.4 percent higher than a year earlier, making it the most robust quarter in five years, data service FactSet reported.