U.S. mortgage interest rates slipped lower in March, boosting demand for the relatively small number of homes for sale.
Tag: U.S. Economy
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PENDING HOME SALES FALL TO THEIR FEWEST IN FOUR YEARS
In April, the number of signed contracts for the purchase of existing homes fell 7.7 percent compared to March, plunging to its lowest volume since April 2020 at the beginning of the COVID War, the National Association of Realtors (NAR) reported.
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ECONOMIC SLOWDOWN: U.S. DIESEL DEMAND LOWEST SINCE 1998
In March, U.S. demand for diesel fuel fell to 3.67 million barrels a day, its lowest level in 26 years as the economy continued to slow, the U.S. Energy Information Administration reported.
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HAPPY DAYS NOT HERE AGAIN. GDP REVISED DOWN
The U.S. GDP grew 1.3 percent in this year’s first quarter, not the 1.6 percent in an earlier flash estimate, the Commerce Department said last week. It is the lowest growth rate since the second quarter of 2022.
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DRAGFLATION: GDP GOING DOWN, REAL INFLATION STILL HIGH
The U.S. inflation rate in April stayed at its March level of 2.7 percent, the Commerce Department reported last week.
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ECONOMIC UPDATE – MARKET OVERVIEW
The facts are in the numbers. As we had forecast, after being artificially propped up to fight the COVID War with zero interest rates and trillions of dollars of fake money backed by nothing and printed on nothing, following the post-COVID spike, the U.S. economy is slowing down.
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GAMBLERS NIGHTMARE: THE “ME TOO” STOCK BOOMLET IS BACK
Seven of the ten U.S.-listed stocks that traded the most shares in May are worth less than $1 per share and none of the seven have turned a profit, Cboe Global Markets reported.
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SPOTLIGHT: BIGS GETTING BIGGER
Identity management firm CyberArk Software is acquiring Venafi, whose technology identifies bots and machines on a network, for $1 billion in cash and about $540 million in stock.
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TOP TREND 2024: EV GO FU
President Joe Biden’s 102.5-percent tariffs on Chinese electric vehicles (EVs) entering the U.S. drew headlines earlier this month. What drew less attention but is far more impactful is the tripling of tariffs on EV batteries and parts.
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SPECIAL REPORT: ROBBER BARONS 2.0: HOW PRIVATE EQUITY KILLED RED LOBSTER: A CASE STUDY
It wasn’t only all-you-can-eat shrimp for $20 that drove the Red Lobster restaurant chain to claim bankruptcy on 19 May, an NBC News investigation says.