Consumer expectations for future inflation have fallen significantly in favor of the Federal Reserve

Consumer expectations for future inflation have fallen significantly in favor of the Federal Reserve

Shoppers at a grocery store in San Francisco, California, U.S., Monday, May 2, 2022. David Paul Morris | Bloomberg | Getty Images The outlook for consumer inflation fell significantly in July amid sharp declines in gasoline prices and growing belief that rapid increases in food and housing would also decline in the future. The New … Read more

China posts $101 billion trade surplus, but export boom could fade

China posts 1 billion trade surplus, but export boom could fade

Exports measured in US dollars jumped 18% in July from a year ago, marking the fastest pace of growth this year, according to statistics from China Customs released on Sunday. Analysts polled by Reuters had expected a 15% rise. In June, exports increased by 17.9%. Imports, meanwhile, rose 2.3% from a year earlier, slightly beating … Read more

Demand for grocery delivery declines as cost of food rises

Demand for grocery delivery declines as cost of food rises

Karen Raschke, a retired New York lawyer, started getting her groceries delivered at the start of the pandemic. Each delivery was $30 in fees and tip, but it was worth avoiding the store. Earlier this spring, Raschke learned that his rent was increasing by $617 per month. Delivery was one of the first things she … Read more

The U.S. economy has yet to face its biggest recession challenge

The U.S. economy has yet to face its biggest recession challenge

A person removes the nozel from a pump at a gas station on July 29, 2022 in Arlington, Virginia. Olivier Douliery | AFP | Getty Images You would be hard-pressed now to find a recession in the rear view mirror. What’s on the road, however, is another story. There is no historical precedent to indicate … Read more

Lyft, Carvana, Warner Bros. Discovery, DraftKings

Lyft, Carvana, Warner Bros.  Discovery, DraftKings

Confetti falls as Lyft CEO Logan Green (C) and Chairman John Zimmer (LEFT C) ring the Nasdaq opening bell celebrating the company’s initial public offering (IPO) on March 29, 2019 in Los Angeles, California. Shares of the ride-hailing app company were initially priced at $72. Mario Tama/Getty Images Find out which companies are making headlines … Read more

Workers in these two industries are the only ones coming out on top right now

Workers in these two industries are the only ones coming out on top right now

But in reality, only the workers of two industries – leisure and hospitality and retail – actually lead, once inflation is taken into account. Overall wages and salaries of private sector workers increased by 4.2% between December 2019 and last June, before rising prices are factored in, according to an analysis of quarterly Employment Cost … Read more

Morgan Stanley on market background and tech stocks, Nasdaq

Morgan Stanley on market background and tech stocks, Nasdaq

Stocks largely rallied in July, with the Nasdaq rebounding from previous declines. And Wall Street wonders if the markets have already bottomed out. Growth stocks such as technology have largely slumped this year due to monetary tightening, recession and other risks. And Morgan Stanley, in an Aug. 3 report, warned that while the Nasdaq has … Read more

US weekly jobless claims hit 260,000 ahead of nonfarm payrolls report

US weekly jobless claims hit 260,000 ahead of nonfarm payrolls report

A rental sign is displayed on the window of a Chipotle restaurant in New York, April 29, 2022. Shannon Stapleton | Reuters Initial jobless claims totaled 260,000 last week, near the highest level since November amid a shift in the U.S. labor market. The total for the week ended July 30 was in line with … Read more

Turkish inflation jumped to 79.6%, its highest level in 24 years, in July | Inflation News

Turkish inflation jumped to 79.6%, its highest level in 24 years, in July |  Inflation News

Inflation in Turkey has been fueled by the continued decline of the lira as well as the economic consequences of the Russian invasion of Ukraine. Turkish inflation hit a new 24-year high of 79.6% in July, data showed on Wednesday, as continued lira weakness and global energy and commodity costs pushed prices up. on the … Read more

Walmart lays off company employees after slashing forecast

Walmart lays off company employees after slashing forecast

Exterior view of a Walmart store on August 23, 2020 in North Bergen, New Jersey SEE press | Corbis News | Getty Images Walmart confirmed on Wednesday that it began laying off company employees about a week after the company cut its profit outlook and warned that consumers had cut discretionary spending due to inflation. … Read more