In November, wholesale prices remained stagnant, signaling a potential easing of inflation, according to a report from the Labor Department. The Producer Price Index (PPI), which assesses a wide spectrum of prices for final demand items, showed no change for the month, contrasting with October’s 0.4% decrease and defying the Dow Jones estimate of a… Continue reading Wholesale prices held flat in November, providing another encouraging inflation signal

The CNBC Fed Survey reveals an optimistic outlook for the coming year, anticipating rate cuts by the Federal Reserve, although not as aggressively and rapidly as market expectations. Respondents foresee a gradual reduction starting around mid-year, with an average expectation of 85 basis points in cuts for the year, diverging from the 120 basis points… Continue reading Fed to start cutting rates midyear in 2024 with high chance of soft landing, CNBC Fed survey finds

In November, prices for a diverse array of goods and services experienced a modest uptick, largely aligning with expectations and mitigating pressure on the Federal Reserve. The Labor Department’s report on Tuesday revealed a 0.1% increase in the consumer price index (CPI) for the month, with a year-over-year rise of 3.1%, meeting economist predictions of… Continue reading Inflation slowed to a 3.1% annual rate in November

Arkhouse Management and Brigade Capital Management have presented a buyout offer for Macy’s at $5.8 billion, valuing the retailer at $21 per share. Macy’s shares closed just above $17 on Friday, reflecting a 17% decline since the beginning of the year. However, in premarket trading on Monday, the shares surged by 15%. Arkhouse, known for… Continue reading Macy’s shares surge 15% after it receives $5.8 billion buyout offer

In a crucial week for central banks, major institutions, including the U.S. Federal Reserve, are poised to announce their final rate decisions of the year, putting market expectations for early 2024 rate cuts to the test. The week will kick off with the U.S. Federal Reserve, followed by a “Super Thursday” featuring the European Central… Continue reading A crunch week for central banks will put rate-cut expectations to the test

Tesla faced an escalation of challenges with labor unions in Scandinavia as it lost a legal battle against Sweden’s postal service. The postal workers had refused to deliver license plates to Tesla in solidarity with striking mechanics demanding a collective bargaining agreement, a standard practice in Sweden. Despite Tesla’s legal action and CEO Elon Musk’s… Continue reading Musk’s Scandinavian woes deepen as Tesla loses Swedish court case, Finnish union joins port blockade

In November, the U.S. job market exhibited resilience, surpassing expectations as nonfarm payrolls expanded by 199,000, slightly exceeding the anticipated 190,000. This growth marked an improvement from the unrevised October figure of 150,000, as reported by the Labor Department. Contrary to predictions of a weakening economy, the unemployment rate decreased to 3.7%, surpassing the forecasted… Continue reading U.S. payrolls rose 199,000 in November, unemployment rate falls to 3.7%

The year 2023 marked the least affordable period for homebuyers in the past 11 years, according to a report from real estate company Redfin. For someone earning the median income in the U.S. – $78,642 – purchasing the median-priced home at around $400,000 would have required spending over 40% of their income on monthly housing… Continue reading 2023 was the least affordable homebuying year in at least 11 years, Redfin says

As the 2023 box office approaches its conclusion, Warner Bros. is set to dominate the remaining weeks with three major releases: “Wonka,” “Aquaman and the Lost Kingdom,” and “The Color Purple.” December historically plays a crucial role in the box office, with high expectations for ticket sales. Despite a lag of about 19% compared to… Continue reading ‘Wonka,’ ‘The Color Purple’ and ‘Aquaman’: Warner Bros. releases dominate December

The head of trading at the Tel Aviv Stock Exchange has criticized a research report titled “Trading on Terror?” that documented short selling ahead of the Oct. 7 terror attack in southern Israel. The report, published on the Social Science Research Network by law professors Joshua Mitts and Robert Jackson, claimed a “significant spike in… Continue reading Israel exchange says no abnormal trading ahead of Oct. 7 attack, calls short seller report ‘flawed’

In November, the private sector’s job creation witnessed a further slowdown, as reported by payroll processing firm ADP. The data revealed that companies added only 103,000 workers during the month, slightly below the revised October figure of 106,000 and falling short of the Dow Jones estimate of 128,000. The subdued job growth was accompanied by… Continue reading Private payrolls increased by 103,000 in November, below expectations, ADP says

Walmart’s CEO, Doug McMillon, acknowledges the unpredictability of post-holiday season sales as shoppers gravitate towards the retail giant for groceries and gifts. Despite an initial expectation of reduced consumer spending due to higher credit card balances and diminishing household bank accounts, McMillon notes the surprising resilience exhibited by consumers this year. In an interview with… Continue reading Walmart CEO says consumers may not be as resilient next year, even as deflation starts to show