Inventories contributed 0.6 percentage point to growth, double the preliminary estimate, while personal consumption managed to eke out growth of 0.1%, versus a prior flat reading. The inventory gain is an indication of greater output, but also points to unsold goods and components, a potential sign of weak demand. Business spending gained 1.1%, a little […]
“If the UK meeting continues to signal optimism, it could weaken the negative economic impact of the trade war,” said Gao Mingyu, Beijing-based chief energy analyst at SDIC Essence Futures Co. “After the short-term bearish impact of OPEC+’s July ouptut hike was digested, improving macro sentiment, stronger seasonal demand, and lingering geopolitical risks have all […]
If any credit weakness were to hit, it would likely start with smaller companies, and in leveraged finance or even private credit, said Matthew Mish, UBS’ head of credit strategy. A close look does show some signs of weakness, at least in the smaller firms. Corporate profits for domestic, non-financial companies declined by about 3% […]
Appearances in the wake of that meeting, at which policymakers cut rates for an eighth time, include speeches by the central bank governors of Spain, France, Austria and Finland, along with ECB Vice President Luis de Guindos, chief economist Philip Lane, and Executive Board member Isabel Schnabel.
“But we do see that also the more persistent components are coming down,” she said. “And of course, yes, some of the numbers are still not where they should be. So wage growth is of course, at the, at the moment still too high service inflation still relatively high. Domestic generally is relatively high, but, […]
Traders are, however, still obsessed with macroeconomic data. Over the past three months, the S&P 500’s average realized volatility on days when the CPI report, the government’s monthly jobs data and Fed rate decisions are released has been nearly 42%, compared with a reading of 29% on all other sessions, according to data complied by […]
Brent traded around $65 a barrel and was on track for its first weekly gain since mid-May, while West Texas Intermediate was near $63. President Donald Trump and his Chinese counterpart, Xi Jinping, agreed to further trade talks aimed at resolving disputes over tariffs and supplies of rare earth minerals.
“In the short term, the market shows a slightly bullish trend amid volatility,” said Gao Mingyu, Beijing-based chief energy analyst at SDIC Essence Futures Co. “But OPEC+’s rapid output increase makes it difficult for the supply-demand tightness that’s driven by seasonal and geopolitical factors to persist.”
Hawley later said he supports the House bill’s work requirements, as well as efforts to go after fraud, but opposes that measure’s changes to the Medicaid provider tax and cost sharing. The House legislation seeks to limit a practice whereby states tax hospitals and other Medicaid providers in order to bolster their federal reimbursement levels, […]
Electric trucks accounted for 22% of light-duty commercial vehicle sales in April, from 13% in the same month last year, according to BloombergNEF. For bigger rigs, the increase is even more pronounced, with sales trebling to 15% of the total. Diesel demand is being menaced on two fronts, as liquefied natural gas had already been […]