COVID Fallout? US Sees Unprecedented Surge in Homelessness as Safety Nets Fray
According to government officials on Friday, a "sharp rise" in the number of people experiencing homelessness for the first time contributed to homelessness in America setting a new high earlier this year.
Dec 18, 2023 9:14 AM EST
10-Year Treasury Yield Slip Further After Fed’s ‘Big Shift’
Monday marked the start of the last full trading week of 2023, and the yield on the 10-year Treasury note continued to decline.
US Inflation Fuels $100 Million Gold Rush at Costco, Bars Disappear in Hours
Profits from Costco's gold rush are substantial, as revealed during an earnings call on Thursday when the membership-based wholesale retailer sold an astounding $100 million worth of one-ounce gold bars in the previous quarter. Customers snatched up the gold, which sold out in hours despite ongoing inflation.
SEC Blocks Crypto Rules, Coinbase Throws Down the Gauntlet
On Friday, Coinbase Global submitted a petition to the U.S. Securities and Exchange Commission requesting new regulations for the digital asset industry. The largest cryptocurrency exchange in the nation said that it will file a lawsuit against the decision.
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Lower Inflation, Elevated Unemployment in CBO's 2025 Economic Projection
The Congressional Budget Office stated on Friday that it anticipates inflation to almost reach the Federal Reserve's 2% target rate in 2024 as general growth is anticipated to slow and unemployment to climb through 2025, according to revised economic predictions for the next two years.
Dec 16, 2023 9:38 AM EST
US Markets Rocket Forward, Dow Inches Closer to Uncharted Territory
US stock futures increased on Friday, as optimism over potential deeper and earlier interest rate reduction continued to drive the Dow toward a new high for the third consecutive day.
Dec 15, 2023 11:10 AM EST
Amazon Under Pressure from Rising Stars, Makes China Charm Offensive to Revive Growth
As it battles increasing competition from low-cost online retailers Temu and Shein, both of which have their origins in the second-largest economy in the world, Amazon is extending a new offer to sellers situated in China.
Dec 15, 2023 10:20 AM EST
New Yorkers Breathe Easier as Medical Debt Loses Credit Grip
New York is becoming the second state in the union to shield its citizens' credit ratings from being damaged by unpaid medical debt.
Dec 15, 2023 9:50 AM EST
Wall Street Eyes $6 Trillion Cash Tsunami Sparked by Fed Pivot
A roughly $6 trillion hoard of cash sitting on the sidelines is one significant element that investors watching whether markets can continue their wild run are keeping an eye on.
Dec 15, 2023 9:03 AM EST
Black Friday Bonanza? Retail Sales Rise Despite Inflation Fears, Holiday Spirit Intact
Americans unexpectedly increased their spending from October to November as the unofficial Christmas season began, demonstrating the power of buyers despite rising costs.
Dec 14, 2023 10:05 PM EST
Moving Day in Manhattan? Median Rents Tumble, Marking a Potential Turning Point
A research issued on Thursday, reveals that rentals in Manhattan decreased for the first time in more than two years as the number of vacant apartments increased and tenants refused to accept price reductions.
Dec 14, 2023 9:00 AM EST
HSBC Declares New Market Paradigm Where Fixed Income Reigns
According to HSBC Asset Management, when the global order breaks, markets have entered a "new paradigm" and recession risk indicates that "bonds are back.
Dec 14, 2023 8:05 AM EST
Wall Street Cheers as Fed Takes Pause, But Eyes Bumpy Economic Landing Next Year
U.S. equities are poised to reach new highs as a result of the Federal Reserve's dovish stance, but some investors are concerned that the market may be moving too quickly given the uncertain outlook for the economy and corporate earnings.
Dec 14, 2023 7:23 AM EST
Fed Pivots, Eyes 3 Interest Rate Cuts to Kickstart Next Year
For the third consecutive week, the Federal Reserve held its benchmark interest rate steady on Wednesday, and policymakers hinted that they anticipate reducing it by three quarter points in the next year.
Dec 14, 2023 5:41 AM EST
Holiday Season Could Leave Luxury Retailers Drowning in Unsold Inventory
Early holiday shopping season reductions from high-end fashion stores such as Bergdorf Goodman on New York's Fifth Avenue fueled fears that a lackluster Christmas would lead to inventory gluts, perhaps pulling labels into a lowering cycle that would cheapen their image.
Dec 13, 2023 10:37 PM EST
US Stocks Navigate Uncertainty as $5 Trillion Options Hang in the Balance
Market participants indicated that dealers squaring their books ahead of what is expected to be the largest-ever options expiry for S&P 500-linked derivatives may be assisting in minimizing volatility in U.S. equities.
Dec 13, 2023 8:59 AM EST
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