(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Most Read from Bloomberg Federal Reserve officials are set to shift down the pace of interest-rate hikes again in the coming week amid signs of slowing inflation, while Friday’s jobs report may show steady demand for workers … Read more
President Biden is facing pushback from fact-checkers over a recent speech he delivered in Virginia regarding the economic progress his administration has made during his tenure in the White House. Speaking at the Steamfitters Local 602 in Springfield on Thursday, Biden made multiple claims about the current state of the economy that have fact-checkers — … Read more
What happened Shares of Redfin (RDFN 19.74%) jumped 17.8% this past week, according to data from S&P Global Market Intelligence, after CEO Glenn Kelman provided some encouraging commentary on the state of the housing market. So what After correctly warning last March that the residential real estate industry was peaking, Kelman explained in a series of … Read more
By P R Sanjai and Eltaf Najafizada The Adani Group will release a detailed response to allegations made by US short seller Hindenburg Research only after the completion of a new share sale that’s set to conclude on Jan 31, according to people familiar with the matter. The conglomerate owned by Asia’s richest person Gautam Adani … Read more
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NEW YORK, Jan 27 (Reuters) – A potential U.S. recession and tough comparisons to a stellar 2022 are weighing on the prospects of energy stocks delivering an encore to last year’s stunning run, despite valuations that are seen as still comparatively cheap. The S&P 500 energy sector (.SPNY) is up 4.2% year-to-date, slightly lagging the … Read more
Cathie Wood, the founder and CEO of Ark Invest, rose to popularity during the coronavirus pandemic thanks to her firm’s successful bets on some of the most disruptive tech companies. Her flagship exchange-traded fund (ETF), the Ark Innovation ETF (ARKK 5.54%), skyrocketed 153% in 2021, prompting many investors to closely watch her trading moves as … Read more
Vital Farms (VITL) CEO Russell Diez-Canseco says the recent spike in egg prices, up more nearly 60% year-over-year, is “a head scratcher.” “Over the course of 2022, we certainly saw inflationary impacts to our key inputs like the grains we feed our girls [hens] and the diesel fuel that the truckers use to fuel their … Read more
WASHINGTON (AP) — For all the sound and fury about raising the nation’s debt limit, most economists say federal borrowing is not at a crisis point … at least not yet. The national debt is at the core of a dispute about how to raise the government’s legal borrowing authority, a mostly political argument that … Read more
(Bloomberg) — The bond-market’s bulls are poised for the first major test of 2023. Most Read from Bloomberg Treasuries rallied this month on widespread anticipation that the Federal Reserve is nearing the end of its interest-rate hikes as inflation comes down and tighter financial conditions cool the economy. In the coming week, traders will find … Read more
Perhaps a 2023 recession can be avoided after all. Consistently falling prices alongside a stronger-than-expected fourth-quarter gross domestic product (GDP) and next week’s anticipated less aggressive interest rate hike from the Federal Reserve are changing economists’ tune and renewing hopes about the overall health of the economy. The personal consumption expenditures price index (PCE) cooled … Read more