Private sector added 324,000 jobs in July, well above expectations, ADP says
Sinking Spring, PA – April 19: The sign at the McDonald’s restaurant on Penn Ave in Sinking Spring, PA April 19, 2021 with a message on a board below it that reads “Work Here $15 $15 $15”. (Photo by Ben Hasty/MediaNews Group/Reading Eagle via Getty Images) Medianews Group/reading Eagle Via Getty Images | Medianews Group […]
15 Tech Stocks on the Road to Recovery The Motley Fool
As has been widely noted in recent months, technology stocks and growth-stock companies in general have been seen as the group most vulnerable to the rise in rates. That’s because a key aspect of stock valuations is estimating the present value of a company’s future earnings. Investors use interest rates to discount the value of […]
U.S. debt downgrade sinks global markets — but economists are not concerned
Traders work on the floor of the New York Stock Exchange, June 29, 2023. Brendan McDermid | Reuters Global stock markets tumbled on Wednesday after ratings agency Fitch downgraded the United States’ long-term credit rating — but top economists say there is nothing to worry about. Fitch announced late on Tuesday that it had cut […]
Two Overlapping Takes on Inflation
Yves here. I’m taking the unusual step of publishing two not-too-long cross posts because the commonalities and differences in analysis and conclusions might be illuminating to readers. These two pieces, interestingly, suggest in the neoliberal and (press-wise) fiscally orthodox UK, quite a few informed commentators accept the proposition that this inflation was not created by […]
Market Talk – August 1, 2023
ASIA: In July, India’s manufacturing activity showed a slight easing for the second consecutive month, as per a private business survey by S&P Global. The Manufacturing Purchasing Managers’ Index (PMI) declined marginally to 57.7 from 57.8 in June but was slightly higher than expected (57.0). Despite the moderation, the pace of expansion remained healthy, with […]
Job openings, layoffs both declined in a positive sign for the labor market
Job vacancies and layoffs edged lower in June, according to a report Tuesday that points to a stable labor market. Employment openings totaled 9.58 million for the month, edging lower from the downwardly revised 9.62 million in May, the Labor Department said in its monthly Job Openings and Labor Turnover Survey. That was the lowest […]
Five things investors have learned this year
Stockmarkets, the economist Paul Samuelson once quipped, have predicted nine out of the last five recessions. Today they stand accused of crying wolf yet again. Pessimism seized trading floors around the world in 2022, as asset prices plunged, consumers howled and recessions seemed all but inevitable. Yet so far Germany is the only big economy […]
Rich like Asians, homeless like Latinos
A recent LA Times story on rising homelessness had a graph that caught my eye: There’s little doubt that LA’s extremely high (and rising) rate of homelessness is partially caused by building restrictions that push up the cost of housing. But this graph suggests that non-economic factors also play a significant role in homelessness. The […]
