The U.S. Treasury Department has announced plans to increase the size of its debt auctions as it grapples with a significant debt load and rising financing costs. This decision comes as Treasury yields have reached their highest levels since 2007, causing concern in financial markets about the potential impact of higher borrowing costs. In the… Continue reading Treasury details plans to step up size of bond sales to manage growing debt load and higher rates

The CNBC Fed Survey reveals a shift in expectations regarding Federal Reserve actions and the economic outlook. Respondents, including economists, strategists, and analysts, now anticipate no further rate hikes from the Fed, aligning with the central bank’s “higher-for-longer” stance. In contrast, they do not foresee any rate cuts until the third quarter of 2024, marking… Continue reading Markets are on board with the Fed’s ‘higher for longer’ policy, CNBC survey shows

Stocks experienced a decline on Tuesday, closing out a challenging month that witnessed surging Treasury yields. The Dow Jones Industrial Average dropped by 87 points, marking a 0.2% decrease, while the S&P 500 and the Nasdaq Composite fell by 0.18% and 0.6%, respectively. During this earnings season, Caterpillar reported third-quarter earnings that exceeded expectations. However,… Continue reading S&P 500 falls on Tuesday as stocks head for third-straight losing month

The Pentagon’s Space Development Agency (SDA) has awarded contracts totaling around $1.3 billion to York Space and Northrop Grumman for the construction of 100 communications satellites. These satellites are part of the Proliferated Warfighter Space Architecture (PWSA) network and are designated as “Alpha” variant prototypes in the “Tranche 2 Transport Layer” constellation (T2TL-Alpha). Their primary… Continue reading Pentagon awards $1.3 billion in contracts to Northrop Grumman and York for 100 satellites

The United Auto Workers (UAW) and General Motors (GM) have reportedly reached an agreement, marking the end of over six weeks of contentious collective bargaining negotiations with Detroit automakers. This development follows labor strikes that began in the United States after the parties failed to reach agreements by the September 14 deadline. Ford Motor was… Continue reading GM reaches tentative deal with UAW, ending strikes at Detroit automakers after six weeks

In the midst of a week filled with significant events, U.S. stocks saw a positive upswing on Monday. The primary drivers for this optimism were anticipation surrounding a Federal Reserve rate decision, the release of the jobs report, and Apple’s upcoming earnings report. The Dow Jones Industrial Average made substantial gains, surging by 252 points,… Continue reading Stocks bounce as S&P 500 tries to climb out of correction territory

JPMorgan Chase CEO Jamie Dimon’s decision to sell 1 million shares of the bank he has led since 2005 has raised concerns about his potential retirement. The plan, announced in a filing by the company, has led to speculation about the future of one of the country’s most prominent bankers. Dimon, who is 67 years… Continue reading JPMorgan Chase stock slips after bank says CEO Jamie Dimon is selling 1 million shares

American banks are rapidly closing branches located within supermarket chains at a rate significantly higher than other branch closures, primarily due to the industry’s profit constraints and the ongoing shift of customers towards digital banking channels. In the year ending June 30, banks closed 10.7% of their in-store branches, while the closure rate for other… Continue reading Bank branches inside supermarkets are closing 7 times faster than other locations

In September, inflation in the United States showed an uptick, but consumer spending proved to be even stronger than expected, according to a report from the Commerce Department released on a Friday. The core personal consumption expenditures price index, a key metric for the Federal Reserve in measuring inflation, increased by 0.3% for the month,… Continue reading Key Fed inflation gauge rose 0.3% as expected in September; spending tops estimate

Mercedes-Benz reported a decline in profit and revenue, leading to a 5.8% drop in its shares. The company cited challenges from electric vehicle (EV) competition and supply chain issues as contributing factors. Chief Financial Officer Harald Wilhelm described the EV market as a “pretty brutal space,” noting that some traditional automakers are selling EVs for… Continue reading Mercedes-Benz shares fall 6% as profit falls; CFO bemoans ‘brutal’ EV pricing

The article reports that the U.S. economy grew faster than expected in the third quarter. Gross domestic product (GDP) increased at an annualized pace of 4.9% from July to September, up from the previous quarter’s 2.1%. This growth was driven by strong consumer spending, increased inventories, exports, residential investment, and government spending. Consumer spending saw… Continue reading U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected

Boeing has announced that it will deliver fewer 737 Max aircraft than originally projected for the year due to production issues. The company now expects to hand over between 375 and 400 of the 737 Max planes in 2023, down from the previous estimate of 400 to 450. These issues stem from misdrilled holes in… Continue reading Boeing cuts 737 Max delivery forecast as production issues dent third-quarter results