Economic events
How to buy your first car without going broke
Buying your first car after graduation (or while you’re still in college) can be tricky — especially at a time like this when prices are soaring. The average price of a new car was $46,000 in June and the average price of a used car was $28,000, both up more than 20% since the start […]
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Stock futures inch higher ahead of a busy week of earnings
U.S. stock index futures were modestly higher during overnight trading Sunday as Wall Street looks ahead to a busy week of earnings. Futures contracts tied to the Dow Jones Industrial Average added 0.25%. S&P 500 futures were up 0.4%, while Nasdaq 100 futures advanced 0.5%. The major averages are coming off a losing week, despite […]
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Inflation poses a ‘clear and present danger,’ says Manchin: Economists weigh in on how it can hurt and help consumers
A person shops for groceries on March 10, 2022 in the Prospect Lefferts Garden neighborhood of Brooklyn. Michael M. Santiago | Getty Images News | Getty Images Inflation hit a new 40-year high in June, and policymakers are working feverishly to tame it — perhaps even risking recession to do so. Jerome Powell, chair […]
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JPMorgan Chase earnings fell 28% after building reserves for bad loans, bank suspends buybanks
JPMorgan Chase said Thursday that second-quarter profit slumped as the bank built reserves for bad loans by $428 million and suspended share buybacks. The actions reflect Chairman and CEO Jamie Dimon’s increasingly cautious stance. “The U.S. economy continues to grow and both the job market and consumer spending, and their ability to spend, remain healthy,” […]
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Stock futures slip after Wednesday’s session as Wall Street awaits bank earnings
Stock futures slipped Wednesday night as traders look ahead to earnings from major U.S. banks. Dow Jones Industrial Average futures shed 117 points, or 0.38%. S&P 500 and Nasdaq 100 futures were down 0.41% and 0.47%, respectively. Stocks slipped during Wednesday’s session after June inflation data came in hotter than expected, hitting its highest level […]
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Boris Johnson is going, and strategists are betting on big changes to the UK economy
British Prime Minister Boris Johnson makes a statement at Downing Street in London, Britain, July 7, 2022. Henry Nicholls | Reuters LONDON — U.K. Prime Minister Boris Johnson’s eventual successor is likely to bring forth greater fiscal support and less-fractious relations with the European Union, according to economists. Johnson formally resigned as leader of the […]
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Goldman slashes GDP forecast for the second quarter to just barely above water
A Goldman Sachs Group Inc. logo hangs on the floor of the New York Stock Exchange in New York, U.S., on Wednesday, May 19, 2010. Daniel Acker | Bloomberg | Getty Images Amid heightened concerns that a recession is looming, Goldman Sachs economists expect that the U.S. economy barely grew in the second quarter. The […]
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Euro continues to slide toward dollar parity — and could fall even further
A financial trader monitors data as a television shows euro currency banknotes at the Frankfurt Stock Exchange in Germany. Martin Leissl | Bloomberg | Getty Images The euro dropped below $1.02 this week, continuing its slide to new 20-year lows and potential parity with the U.S. dollar. The euro traded as low as $1.0165 on […]
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Switzerland surprised markets with a rate hike. But Japan could cause a much more violent reaction
Japan’s national flag flies atop the Bank of Japan building on November 12, 2019 in Tokyo, Japan. Tomohiro Ohsumi | Getty Images Japan’s central bank is nearing an inflection point. It comes as policymakers around the world scramble to tighten monetary policy in an effort to rein in record-high inflation. The Swiss National Bank was […]
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Mortgage demand sinks even as rates drop
People wait to visit a house for sale in Floral Park, Nassau County, New York. Wang Ying | Xinhua News Agency | Getty Images Mortgage rates dropped for the second week in a row, but that didn’t revive demand from homeowners or potential buyers. Rates fell 10 basis points last week and have declined 24 […]
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