We note that old Great Depression song, “What a Difference a Day Made” to show how, in just “24 little hours” the equity markets, like life, can go from the sky being stormy to “moments of bliss.”
Tag: U.S. Economy
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JOB GROWTH SLOWS SHARPLY, TANKING STOCK MARKETS
The U.S. economy added just 114,000 nonfarm jobs in July. The number was far below the 185,000 Dow Jones had expected, below June’s revised number of 179,000, and almost half of the 215,000 new jobs averaged over the past 12 months.
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SPOTLIGHT: BIGS GETTING BIGGER
German conglomerate Robert Bosch has agreed to pay $8.1 billion to take over the heating and air systems business now owned by a partnership between Hitachi and Johnson Controls International.
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MORE AMERICANS FALLING BEHIND ON CREDIT CARD PAYMENTS
An increasing number of Americans are unable to make their monthly credit card payments, according to data from the Federal Reserve Bank of Philadelphia.
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PLANTATION WORKERS OF SLAVELANDIA TOO POOR TO BUY A HOUSE IN MORE THAN 200 U.S. CITIES
In 237 U.S. cities, a low-priced starter home now costs at least $1 million, according to online brokerage Zillow. The number has almost tripled since 2019, when 84 cities featured seven-figure entry-level homes.
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U.S. ECONOMIC GROWTH DOUBLED IN SECOND QUARTER
U.S. GDP grew by 2.8 percent in April through June, doubling the first quarter’s pace of 1.4 percent.
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ECONOMIC UPDATE—MARKET OVERVIEW
The data is there for all to see, but most believe in what they want and facts don’t matter.
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SPOTLIGHT: TOP TREND 2023, OFFICE BUILDING BUST
Deutsche Bank will see loan losses equivalent to 0.30 percent of the value of its loan portfolio this year, the bank said last week. Earlier, it had warned of losses that could be as low as 0.25 percent.
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SPOTLIGHT: BIGS GETTING BIGGER
This year’s surge in mergers and acquisitions has rewarded Goldman Sachs with a 150-percent gain in its second-quarter profits, lifting them to $3 billion.
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BOND MARKETS REVIVE THE “TRUMP TRADE”
“Trump trades,” popular when Donald Trump won the presidency in 2016, are trades that capitalize on a pro-business climate of deregulation, low interest rates, and tax cuts.