October 28, 2021
“The U.S. economy grew at a 2% rate in the third quarter, its slowest gain of the pandemic-era recovery, as supply chain issues and a marked deceleration in consumer spending stunted the expansion, the Commerce Department reported Thursday. Gross domestic… Continue Reading…
September 16, 2021
“Retail sales posted a surprise gain in August despite fears that escalating Covid cases and supply chain issues would hold back consumers, the Census Bureau reported Thursday. Sales increased 0.7% for the month against the Dow Jones estimate of a… Continue Reading…
June 14, 2021
“Transaction volumes on customers’ credit and debit cards and over the Zelle payment network has grown by 20% so far this year compared to this point in 2019, Moynihan told CNBC’s Becky Quick Monday on CNBC’s “Squawk Box.” The comparison… Continue Reading…
May 27, 2021
“Best Buy said Thursday that sales grew 36% in the fiscal first quarter as shoppers’ stimulus-fueled spending spree includedconsumer electronics. Shares of the company 3.3% in premarket trading after the home electronics and appliance retailer raised its forecast… Chief Financial Officer… Continue Reading…
August 25, 2020
“Stocks drifted lower Tuesday morning after each of the S&P 500 and Nasdaq touched yet another record intraday high earlier in the session. A closely watched index tracking US consumer confidence unexpectedly deteriorated in August to a fresh pandemic-era low, cooling hopes… Continue Reading…
August 3, 2020
“The Commerce Department said on Friday that consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 5.6% last month after a record 8.5% jump in May as more businesses reopened. Consumers stepped up purchases of clothing… Continue Reading…
July 30, 2020
“…Shares of the company rose 1.5% in morning trading. Here’s what the company reported for the quarter ended June 30 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $1.16, adjusted,… Continue Reading…
June 1, 2020
“Rates Are Low Mortgage rates are at their lowest level in nearly 50 years. According to lender Freddie Mac, which began tracking the data in the early 1970s, the average rate on a 30-year mortgage is down to 3.24%, well… Continue Reading…
May 29, 2020
“American consumer spending ground to a halt during the coronavirus lockdown, and that is a massive problem for the spending-addicted US economy. April’s personal consumption data showed a 13.6% drop in consumer spending, according to a Bureau of Economic Analysis… Continue Reading…
May 18, 2020
“In our call of the day, Paul Schatz, the president of Heritage Capital, said the Dow DJIA, 3.39% could hit 30,000 points by 2021 and 40,000 by 2023 as the U.S. economy recovers over the longer term… “I firmly believe we will see Dow… Continue Reading…
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