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
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.
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.
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.
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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
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
US Soaring Prices in Restaurants and Car Repairs Contribute to November Surge
Inflation in the United States remained virtually constant last month, owing to falling gas costs. However, underlying pricing pressures from apartment rents, restaurant meals, vehicle insurance, and a variety of other services remained persistently high.
Dec 13, 2023 5:08 AM EST
Deck the Halls without Breaking the Bank: 5 Tricks to Master Holiday Spending
It is easy to overspend and get bogged down in Christmas shopping, but worry not! Here are eight valuable recommendations to ensure you stick to your budget for the new year.
Dec 12, 2023 11:50 AM EST
Will Inflation Hold Steady? Treasury Yields Drop as Investors Anticipate Key Data Release
Ahead of the Federal Reserve's final meeting of the year, investors were waiting for important inflation statistics, which caused U.S. Treasury rates to drop on Tuesday.
Dec 12, 2023 10:54 AM EST
Zara Facing Backlash for Ad Resembling Gaza Destruction
After some pro-Palestine activists called for a boycott of the fashion company, Zara removed an advertisement campaign on Monday off the first page of its website and app. The campaign featured sculptures shrouded in white and mannequins with missing limbs.
Dec 12, 2023 8:39 AM EST
Fed Leaves Rates Unchanged, Casting Doubt on Speculation of Early Cuts
With inflation approaching the Federal Reserve's 2% objective, officials are addressing - and in some cases, stoking - expectations that they would make a significant policy move and drop interest rates next year, maybe as early as April.
Dec 12, 2023 2:29 AM EST
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