The U.S. spot gold price briefly topped $3,000 on 10 March, passing the milestone for the first time. The metal’s futures price in European evening trading surpassed the same milestone later on the same day.
Tag: U.S. Economy
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ETHICAL CONCERNS MOUNT OVER TRUMP’S CRYPTO VENTURE
Donald Trump is facing a “fierce backlash” since he and his wife, Melania, each launched a meme coin days before he returned to the Oval Office. The venture has since brought in a $350-million windfall to the owners of the venture, chiefly Trump and his family members.
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PLAN FOR U.S. CRYPTO RESERVE DISAPPOINTS ENTHUSIASTS
Donald Trump’s executive order calling for the establishment of a U.S. strategic cryptocurrency reserve said the reserve would hold only digital assets forfeited to U.S. law enforcement agencies.
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NEW YORK OFFICE REAL ESTATE MARKET PERKS UP AS WORKERS RETURN
As New York City’s office workers acquiesce to companies’ demands that they return to central offices, Blackstone and other investors are prospecting for bargains in the city’s reviving office real estate market.
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THE U.S., LIKE CHINA, RIGGING ITS ECONOMIC NUMBERS
In a 2 March Fox interview, Commerce Secretary Howard Lutnick said he plans to remove government spending as a component of statistics about the U.S. gross domestic product.
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IN JANUARY, U.S. TRADE DEFICIT SET ANOTHER RECORD
January’s trade deficit soared 34 percent from December as American businesses stockpiled goods from other countries ahead of Donald Trump’s promised wave of stiff tariffs on all goods coming into the U.S.
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U.S. ECONOMY ADDS 151,000 JOBS IN FEBRUARY; UNEMPLOYMENT TICKS UP
American businesses hired another 151,000 nonfarm employees in February and joblessness edged up from 4.0 percent in January to 4.1 last month. January’s total of new jobs was revised downward to 125,000.
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ECONOMIC UPDATE—MARKET OVERVIEW
The facts and details are there for all to see and all to read. On 4 February, the cover of The Trends Journal said it all: “DOT-COM BUST 2.0.” Now, some six weeks later reality has hit The Street.
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“TRUMP BUMP” GIVES WAY TO MARKET CRASH
Equity markets began the year high on expectations that incoming president Donald Trump would cut taxes and regulations, setting off another burst of growth in stock values. Stock prices rose on that expectation of a “Trump bump.”
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SPOTLIGHT: BIGS GETTING BIGGER
Italy’s Saipem and Norway’s Subsea7 will combine in a merger worth an estimated $4.86 billion, The Wall Street Journal reported. The union will create a global company offering construction, drilling, engineering, and logistics services to the oil and gas industry.