Study Reveals Shift from Stocks to Sports Betting
A new study suggests that the rise of sports betting in the U.S. is leading some Americans, particularly those in financially strained households, to withdraw money from their stock investments to fund online gambling. For every dollar spent on sports betting, the research claims a $2 decrease in stock investments. This trend raises concerns about […]
Jobless Claims Drop Unexpectedly, Signaling Resilient Labor Market
The latest U.S. jobless claims data shows an unexpected decrease in new unemployment benefit applications, suggesting a gradual and controlled slowdown in the labor market. Despite concerns raised by July’s increased unemployment rate, layoffs remain historically low. However, the data also indicates that laid-off workers are facing challenges in securing new employment, with continued claims […]
Inflation Data Shifts Fed Focus from 'If' to 'How Much' on Rate Cuts
The latest inflation data has shifted the focus from whether the Federal Reserve will cut interest rates to how much they will cut. With CPI falling below 3%, the lowest since spring 2021, expectations for a September rate cut have solidified. However, the magnitude of the cut remains uncertain, with market bets on a 50 […]
U.S. Shoppers Defy Expectations: July Retail Sales Exceed Forecasts
U.S. retail sales significantly outperformed expectations in July 2024, rising 1% compared to the anticipated 0.4% increase. This robust growth, coupled with positive revisions to June’s figures, suggests continued consumer resilience despite economic concerns. The broad-based increase across various retail categories, including strong performances in motor vehicle sales and electronics, indicates widespread consumer spending. This […]
Inflation Data Fuels Gold Rally Amid September Rate Cut Hopes
Gold prices have rebounded as investors remain optimistic about potential U.S. Federal Reserve interest rate cuts in September. Recent inflation data and comments from Fed officials have strengthened expectations of monetary policy easing, driving gold prices close to record highs. While the market anticipates a rate cut, uncertainty persists regarding its magnitude. Traders are closely […]
Fed's Bostic Signals Potential September Rate Cut
Atlanta Federal Reserve President Raphael Bostic has signaled openness to a potential interest rate cut in September, marking a shift in his stance on monetary policy. In an interview with the Financial Times, Bostic emphasized the need for timely action as inflation cools and the labor market shows signs of weakening. This aligns with market […]
Can The Fed Defend Cutting Rates With NSA Jobless Claims Near Record Lows?
Can The Fed Defend Cutting Rates With NSA Jobless Claims Near Record Lows? The ongoing normalization of jobless claims in Texas – post Hurricane Beryl… Source: Bloomberg …has pulled initial jobless claims down dramatically. On a non-seasonally-adjusted basis, initial claims are basically at multi-decade lows… Source: Bloomberg Continuing claims inched lower but remain above the […]
Futures Rise Ahead Of Data Deluge Including Key Retail Sales Report
Futures Rise Ahead Of Data Deluge Including Key Retail Sales Report US equity futures are following European and most Asian stocks higher, with traders’ attention turning to today’s retail sales report (full preview here) which may support the case for the Federal Reserve to cut rates at its September meeting. As of 7:45am, S&P futures […]
How Many People Are At Risk Of Poverty In Europe?
How Many People Are At Risk Of Poverty In Europe? In 2023, 94.6 million people in the EU (or just over 21 percent of the population) were at risk of poverty or social exclusion, i.e. living in households facing at least one of the three risks of poverty and exclusion: income poverty, severe material and social deprivation and/or living […]
World’s Top Steelmaker Warns Of “Harsh Winter” Amid Growing Fears Of 2008 Or 2015-Style Downturn
World’s Top Steelmaker Warns Of “Harsh Winter” Amid Growing Fears Of 2008 Or 2015-Style Downturn Some economists warn that central banks, including the Federal Reserve, have pushed their interest rate hiking cycle too far. Meanwhile, Chinese investors are wary of the growth prospects for the world’s second-largest economy. The troubling trends in the world’s two biggest economies have sparked […]