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Economy

“Billionaires Dumping Stocks at Record Pace”

“Billionaires are cashing out of stocks at a record pace right now. The disturbing reason behind this move could soon accelerate the market’s downturn. Tech stocks are already off to their worst start since 2008… The wealthiest Americans have recently sold… Continue Reading…

Economy

“Wholesale prices measure rose 9.6% in November from a year ago, the fastest pace on record”

“Wholesale prices increased at their quickest pace on record in November in the latest sign that the inflation pressures bedeviling the economy are still present, the Labor Department reported Tuesday. The producer price index for final demand increased 9.6% over the previous… Continue Reading…

Economy

“Q3 GDP: US economic activity rose at a record 33.1% annualized pace after pandemic-induced slump”

“The Bureau of Economic Analysis released its advance print on third-quarter gross domestic product (GDP) at 8:30 a.m. ET on Thursday. Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg: 3Q GDP, annualized quarter-over-quarter: 33.1%… Continue Reading…

Real Estate

“Existing-home sales soar at a record pace in July…”

“The numbers: Sales of previously-owned homes in the U.S. rose 24.7% between June and July to a seasonally-adjusted annual rate of 5.86 million, the National Association of Realtors reported Friday. It was the second consecutive month in which the monthly increase was… Continue Reading…