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Inflation in August was stronger than expected despite the Federal Reserve’s efforts to bring down prices, according to data Friday that the central bank follows closely. Read more… Americans are still weighed down by high inflation, though sentiment is improving Americans are feeling more positive about the economy and believe inflation will settle down —
Used-car retailer CarMax Inc said on Thursday that an uncertain economic environment was starting to take a toll on vehicle demand, sending ripples through the auto sector, which has largely dodged a significant hit from inflation this year. Read more… Latest GDP reading confirms the US economy shrank for two straight quarters, supporting one definition
US stocks and bonds rallied Wednesday after the Bank of England said it would buy UK government debt “on whatever scale is necessary” in an emergency intervention to halt a bond market crash. Read more… Pending Home Sales Dropped 2.0% in August Pending home sales sagged for the third straight month in August, according to
U.S. home prices cooled in July at the fastest rate in the history of the S&P CoreLogic Case-Shiller Index, according to a report released Tuesday. Read more… Consumers are growing more optimistic about the US economy Consumer confidence rose for a second straight month in September, as moderating gas prices and the hope that inflationary
The Bank of England on Monday said it is monitoring financial market developments “very closely” after a dramatic morning of turmoil saw the British pound fall to an all-time low against the U.S. dollar. Read more… Apple is making the iPhone 14 in India as China headaches mount Apple has started making its new iPhone
Even Goldman Sachs is succumbing to the gloomy mood on Wall Street by abandoning its previously optimistic stance and warning that US stocks will end the year deeply in the red. Read more… Google CEO Pichai tells employees not to ‘equate fun with money’ in heated all-hands meeting As Google tries to navigate an unfamiliar
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