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The rise in new mobile devices has allowed us to access aspects of our personal healthcare in increasingly simple and flexible ways. AdvertisementAdvertisementOne such business is Qured, a startup that was founded in 2017 in London that offers users access to at-home health screening. That experience really drove my determination to work with innovative tech startups," said Lyz Swanton, Qured's COO. "We are seeing more patients relying on their smartphones to access healthcare," Swanton said. "I am very excited for the future of healthtech and the possibilities of mobile innovation to transform lives," Swanton said.
Persons: , Lyz Swanton, Qured, Swanton, Samsung Knox, Thomas Christensen, Christensen, campervans Organizations: CDC, Premier League football, Devices, Samsung, Insider Studios Swanton, Samsung Galaxy Locations: London
REUTERS/Brendan McDermid Acquire Licensing RightsNEW YORK, Oct 18 (Reuters) - Several U.S. regional banks beat analysts third-quarter profit expectations on Wednesday as higher interest rates allowed them to charge more for loans, although rising loan loss provisions and deposit retention costs crimped margins. Shares of several regional banks fell, including M&T Bank and US Bancorp. Regional banks remain a focus of investor scrutiny. The KBW regional banking index (.KRX) is down nearly 24% year-to-date, while the S&P regional bank (.SPCOMBNKS) has also dropped 33% in the same period. Citizens Financial Group (CFG.N) and First Horizon Corp (FHN.N) both reported a decline in their third quarter profit weighed down by rising credit loss provisions and deposit costs.
Persons: Brendan McDermid, Chris Marinac, Janney Montgomery Scott, Marinac, Citizen Financial's, Chibuike Oguh, Michelle Price, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, U.S, T Bank, US Bancorp, T Bank Corp, Wall, Bank, Citizens Financial, Horizon Corp, Citizens, Citizen, Thomson Locations: New York, U.S, Silicon
An employee walks past a company logo at Northern Trust offices in London, Britain August 1, 2019. REUTERS/Toby Melville/File Photo Acquire Licensing RightsOct 18 (Reuters) - Asset and wealth manager Northern Trust (NTRS.O) on Wednesday posted a smaller-than-expected drop in third-quarter profit as a rise in fee-based income cushioned the hit from a drop in its interest income. Analysts on an average expected a profit of $1.47 per share, according to LSEG data. Total assets under the custody or administration of Northern Trust increased 10.5%, to $14.16 trillion, from the same quarter last year. Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.
Persons: Toby Melville, Jaiveer Singh, Pooja Desai Organizations: Northern Trust, REUTERS, Analysts, Investment, Thomson Locations: London, Britain, Bengaluru
Soh Jun Hao and Grace Lim bought their public housing apartment in Singapore right before the pandemic. They viewed 16 apartments in 3 days and came across their forever home by chance. HaosofGraceIt took them 16 apartment viewings to find their dream home, which wasn't even on their initial list. A screengrab from Google Maps Street View showing the couple's apartment block. Amanda Goh/InsiderThe couple's apartment faces a park, and the view from their living room is hard to beat.
Persons: Soh Jun Hao, Grace Lim, , Jun Hao, they've, Lim, Amanda Goh, " Lim, Soh, Lim's grandmother's, it's Organizations: Service, Housing Development Board, Google Locations: Singapore, Tampines
Most of the school burned down, but its leaders quickly got classes up and running at Sacred Hearts Mission Church 10 miles (16 kilometers) away. Sacred Hearts and other private schools across the state took in displaced public school students, such as Cuaresma, while offering a year of free tuition. Other students bused more than 45 minutes away to public schools on the other side of Maui or opted for remote classes. Debbie Tau’s two children won’t return to their Lahaina schools because she also is worried the air isn’t safe. Patrick Williams said the first time he saw his son Kupaʻa praying at Sacred Hearts reminded him of his own childhood in Mississippi.
Persons: , Cailee Cuaresma, “ I’m, Cuaresma, Tonata Lolesio, , Lahaina , King Kamehameha III, Nāhiʻenaʻena, Tiffany Teruya, Puʻuwai, Debbie Tau’s, Patrick Williams, ’ ” Williams, Williams, Gabby Suzik, Suzik, ” Suzik, Charlene Ako, Ako, Maile Organizations: Lahainaluna High, Sacred Hearts School, Hearts Mission, Hearts, Workers, Assistance Dogs, Lahaina, Maui Preparatory Academy, Lahaina’s, Maui Prep Locations: LAHAINA, Hawaii, Maui, Lahaina, Lahaina , King, Kihei, COVID, Mississippi, Asuncion, Waiola
REUTERS/Ivan Alvarado/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters) - The copper market will transition from supply-demand balance in 2023 to a major supply surplus next year, the International Copper Study Group (ICSG) said after its meeting in Lisbon this week. However, its assessment chimes with a copper market consensus that Chinese demand has surprised to the upside this year. It has trimmed only very slightly its 2024 global usage growth forecast from 2.8% to 2.7%. Operating constraints and smelter maintenance outages in Chile, Indonesia, Sweden and the United States will cap copper production outside of China this year. It's worth noting that the ICSG's most recent monthly bulletin suggests the global copper market notched up a hefty 215,000-metric ton production surplus in the first seven months of 2023.
Persons: Ivan Alvarado, Everyone's, Andy Home, Susan Fenton Organizations: BHP Billiton's Escondida, REUTERS, Study, Shanghai Metal, Reuters, Thomson Locations: Antofagasta, Chile, Lisbon, China, North America, Europe, United States, Indonesia, Sweden, India
US credit card debt hit $1 trillion for the first time ever this year. And with those considerations, the hefty credit card balance in the US actually isn't much of a problem. According to Michele Raneri, the vice president of financial services research at Transunion, credit card utilization has stayed around 22%. Already, the delinquency rate on loans issued in 2023 is lower than the delinquency rate on loans issued in 2021 and 2022. That suggests credit card delinquencies will soon peak around the fourth quarter of this year before declining, he estimated.
Persons: That's, Mark Zandi, They've, Zandi, Michele Raneri, they've, Raneri, Gen Zers, Gen Z, LendingTree, Wells Fargo Organizations: Economists, Service, San Francisco Fed, stoke, of Labor Statistics Locations: Wall, Silicon
Morning Bid: Chips are down
  + stars: | 2023-09-18 | by ( ) www.reuters.com   time to read: +2 min
The global chip sector is stealing the spotlight from major central banks, after the world's top contract chipmaker raised concerns over demand, hitting share prices of semiconductor stocks. In a week packed with central bank meetings, decisions are also due from the U.S. Federal Reserve on Wednesday and Bank of England on Thursday. After the European Central Bank's fireworks last week, the euro will be closely watched as a signal for whether the backlash from more hawkish ECB members is gaining any traction with traders and investors. The BOE is likely to hike interest rates for the 15th time later in the week, while the Fed seems set for a hawkish pause. One more little complication is the steady grind higher in oil prices to new highs that is stoking inflation concerns, just as central banks in most developed economies are at or approaching the end of their tightening cycles.
Persons: Vidya Ranganathan, chipmaker, There's, Kazuo Ueda, BOE, Guindos, Panetta, Sam Holmes Organizations: Vidya, Reuters, General Motors, Ford, Chrysler, International, Co, of, U.S . Federal Reserve, Bank of England, ECB, Thomson Locations: Asia, Detroit
A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. The Labor Department's Job Openings and Labor Turnover Survey (JOLTS), showed the number of job openings stood at 8.827 million in July, falling for the third straight month and signaling easing labor market pressures. The S&P 500 communication services sector (.SPLRCL) rose 2.6%, while consumer discretionary (.SPLRCD) and technology (.SPLRCT) stocks gained 1.9% each. The non-farm payrolls report on Friday will offer investors more clarity about the state of the labor market. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Persons: Carlo Allegri, Elliott, Hogan, Jerome Powell's, drugmaker, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, U.S . Federal Reserve, Labor, Conference Board, Riley, Microsoft, Nvidia, Google, Elliott Investment Management, Dow Jones, Verizon, Citi, PDD Holdings, NYSE, Thomson Locations: New York, United States, Bengaluru
People are seen on Wall Street outside the New York Stock Exchange (NYSE) in New York City, U.S., March 19, 2021. Horizon's shares rose 5.5%. Advancing issues outnumbered decliners for a 3.82-to-1 ratio on the NYSE and a 1.78-to-1 ratio on the Nasdaq. The S&P index recorded seven new 52-week highs and no new low, while the Nasdaq recorded 43 new highs and 101 new lows. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Persons: Brendan McDermid, Stocks, Jerome Powell, Roosevelt Bowman, Gina Raimondo, Wang Wentao, Goldman Sachs, decliners, Shristi Achar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Bernstein Private Wealth Management, Traders, Fed, Nvidia, U.S, Baidu, U.S . Commerce, Intel, Micron, Chinese Commerce, Intel's, Dow Jones, U.S . Federal Trade Commission, Horizon Therapeutics, Creative Planning, NYSE, Thomson Locations: New York City, U.S, China, Bengaluru
Members of the Writers Guild of America have been on strike for 100 days, and writers are getting creative to keep striking even longer. The last WGA strike, which started in 2007, lasted for 100 days and led to 37,700 lost jobs and a $2.1 billion blow to the California economy, according to the Milken Institute, an economic think tank. Many writers, including Kyra Jones, a TV writer in Los Angeles, saw the piece as an intimidation tactic. 'Survival jobs' and new pathsEarning a living during the strike isn't as easy as applying to any job. Brandi Nicole is a TV writer in LA and Memphis.
Persons: Kyra Jones, we're, " Jones, Jones, they're, she's, Chisa Hutchinson, she'll, Gili, I've, Brandi Nicole, Nicole, Brown, She's Organizations: Writers Guild of America, WGA, Alliance, Television Producers, Milken Institute, CNBC, Hulu, ABC, Northwestern University, University of Delaware, Showtime, Humanitas Locations: California, Los Angeles, Northwestern, New York City, LA, Memphis
Aug 9 (Reuters) - Charles River Laboratories International (CRL.N) beat Wall Street estimates for second-quarter results on Wednesday, as the strong demand for contract researcher's tools and services cushioned the impact of suspended non-human primates' (NHP) shipment. The statement comes after Charles River in February suspended the shipment of NHPs from Cambodia as the Department of Justice and U.S. Fish and Wildlife Service investigated the company over smuggling of wild long-tailed macaques to the United States. The Massachusetts-based company tightened its full-year profit forecast to the range of $10.30 to $10.90 per share, compared with $9.90 to $10.90 previously expected. Excluding items, the company earned $2.69 per share in the quarter ended July 1, beating analysts' average estimate of $2.64 per share.
Persons: Charles River, Charles River's, Vaibhav Sadhamta, Shweta Agarwal Organizations: River Laboratories, Department of Justice, Fish, Wildlife Service, Thomson Locations: United States, NHPs, Cambodia, The Massachusetts
Despite Chinese photographer Yushi Li’s gentle staging, her title for the photograph, “The Smothering Dream,” suggests something more sinister is at play. Although a canon of male nudes does exist, it largely comprises images shot by gay male photographers. When Li began the series in 2017, she noticed a lack of images depicting naked men as objects of desire from a woman’s perspective. She brings these ideas into “Paintings, Dreams and Love,” an ongoing project to which “The Smothering Dream” belongs. “There’s also the gaze from the algorithm, and the gaze from the screen that reflects yourself when you look at it… the internet (means) we’re subjected to the gaze more, in a way.”
Persons: Yushi, Lawrence Alma, , , gazes, Li, Henry Fuseli’s, Yushi Li, Titian’s, Diana, reinterpretations, There’s Organizations: CNN, Shanghai Locations: London, China’s Hunan, Swiss
Danish shipping giant Maersk on Friday reported a sharp fall in second-quarter earnings on the back of plunging container rates, but still managed to beat market expectations and upgrade its full-year guidance. Analysts had projected an EBITDA of $2.41 billion, according to Refinitiv data. "Our decisive actions on cost containment together with our contract portfolio cushioned some of the effects of this market normalisation. Cost focus will continue to play a central role in dealing with a subdued market outlook that we expect to continue until end year." Maersk also narrowed its profit forecast for the full year and now expects underlying EBITDA to come in between $9.5 billion and $11 billion, having previously estimated a range of between $8 billion and $11 billion.
Persons: destocking, Vincent Clerc Organizations: Maersk, Analysts, Revenue Locations: North America, Europe
Coinbase revenue beats estimates on interest income boost
  + stars: | 2023-08-03 | by ( ) www.reuters.com   time to read: +1 min
REUTERS/Dado Ruvic/Illustration/File PhotoAug 3 (Reuters) - Coinbase Global (COIN.O) beat second-quarter revenue expectations on Thursday as a surge in the crypto exchange's interest income cushioned a slump in trading volumes, sending its share up 10% in extended trading. Coinbase earns interest on reserves backing USD Coin (USDC), the second-biggest stablecoin by market capitalization. It also earns interest on bitcoin-backed loans it provides to customers. Interest income in the quarter surged to $201.4 million from $32.5 million a year ago, boosting revenue at the company's subscription and services segment. Coinbase's revenue in the second quarter came in at $707.9 million, beating estimates of $662.5 million, according to Refinitiv data.
Persons: Dado Ruvic, Binance, Manya Saini, Sri Hari, Maju Samuel, Arun Koyyur Organizations: REUTERS, U.S . Securities, Exchange Commission, Sri, Thomson Locations: U.S, Bengaluru
Aug 1 (Reuters) - Stanley Black & Decker (SWK.N) reported a lower-than-expected loss in the second quarter on Tuesday, as cost cut measures cushioned a hit from cooling demand for its power tools. The industrial tools maker last year cut 1,000 jobs in an effort to trim costs, according to media reports. Stanley Black & Decker, whose primary customers include home improvement chain Lowe's (LOW.N), construction businesses and aerospace manufacturers, now expects a 2023 net loss of between 50 cents and $1.25 per share, down from 60 cents to $1.65 it forecast previously. On an adjusted basis, the company posted a quarterly loss of 11 cents per share, compared with Refinitiv IBES estimates for a loss of 37 cents. Reporting by Aishwarya Jain; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.
Persons: Stanley Black, Decker, Aishwarya Jain, Shinjini Organizations: Thomson Locations: Britain , Connecticut
She gave up her six-figure salary to retrain as a teacher and set up the charity Now Teach. My mum was a great school teacher and when she died when I was in my forties I briefly thought about becoming a teacher like her. Ten years later when my dad died, I thought I needed to do something radical with the time I had left of my working life. So for me to leave readers with the impression that my life is like "Dead Poets Society" couldn't be further from the truth. I knew from writing about working life that many people in their fifties who were lawyers or worked in other corporate roles get bored with it and want to do something more useful.
Persons: Lucy Kellaway, I've, we've, We've Organizations: Financial Times, Service, JPMorgan, Oxford University, View, Poets Society, Penguin Locations: Wall, Silicon, Gateshead, England, Bracken House, City of London, Hackney, London
July 26 (Reuters) - Solar inverter maker Enphase Energy (ENPH.O) forecast third-quarter revenue below Wall Street estimates on weak demand in the United States, sending its shares down 13.4% in extended trading on Thursday. U.S. demand growth has been tepid as cheaper electricity prices in states like Texas and Arizona make the economics of residential solar less attractive. In the U.S., the solar market has also taken a hit from the Federal Reserve's aggressive tightening that has increased borrowing costs for consumers. The coastal state accounts for nearly a third of the U.S. residential solar market. Enphase reported an adjusted profit of $1.47 per share for the quarter ended June 30, beating estimates of $1.25.
Persons: Raymond James, Pavel Molchanov, Enphase, Tanay, Pooja Desai Organizations: Enphase Energy, Wall, SolarEdge Technologies, Thomson Locations: United States, Texas, Arizona, U.S, Europe, California, Bengaluru
July 25 (Reuters) - Specialty glass maker Corning (GLW.N) forecast third-quarter core sales below Wall Street estimates on Tuesday, as it grapples with the ongoing slump in the consumer electronics market. Corning said it expects core sales of about $3.5 billion in the three months ending September, compared with analysts' estimates of $3.70 billion, according to data from Refinitiv. Shares of Corning, whose Gorilla glass for smartphones is used by companies such as Apple (AAPL.O) and Samsung Electronics (005930.KS), were down nearly 1.5% before the bell. "We expect to continue improving profitability and cash flow despite our relatively muted sales environment," said CEO Wendell Weeks. Corning posted an adjusted profit of 45 cents per share, just short of the 46 cents estimated by analysts.
Persons: Corning, Wendell Weeks, Jaspreet Singh, Krishna Chandra Organizations: Refinitiv, Apple, Samsung Electronics, Thomson Locations: Corning, Bengaluru
US personal savings have collapsed by $5.5 trillion since April 2020, spelling trouble for the economy. Historically high inflation has been the key reason for the decline in American consumers' cash reserves. With the return of student loan bills, savings and spending levels could worsen. Billionaire investor Bill Gross recently weighed in on falling consumer savings levels, warning that Americans could run out of their pandemic savings later this year, paving the way for a recession. Also adding pressure on the US economy is the return of student loan bills, which could cut both consumer saving and spending levels.
Persons: Barchart.com, Bill Gross Organizations: Service, Federal Reserve, Oxford Economics Locations: Wall, Silicon
In recent years, many companies have adopted a "China Plus One" strategy to build new manufacturing units outside the People's Republic. India has a window of three-to-five years to seize this opportunity to attract investment, said Ajay Banga, the former Mastercard CEO who became World Bank chief last month. "I think India's opportunity currently is to cash in on the 'China plus one' opportunity. The World Bank chief also called for private capital investments to aid global efforts for renewable energy funding. We will also need different forms of multilateral bank capital and government capital and philanthropy capital to take first risk positions or help enable the blended finance to come through," Banga said.
Persons: Ajay Banga, Banga, Narendra Modi, Nirmala Sitharaman, Nikunj Ohri, Shivam Patel, Sharon Singleton, William Maclean Organizations: World Bank, chipmaker Micron Technology, Mastercard, Indian, India's, Thomson Locations: DELHI, India, China, United States, Asia, People's Republic, New Delhi
LONDON, July 14 (Reuters) - Investment group Ashmore's (ASHM.L) assets under management dropped by $1.8 billion in the three months to June 30, down 3% from the previous quarter, as investors retreated from emerging markets owing to global macroeconomic uncertainties. Net outflows amounted to $2.9 billion, the emerging markets-focused asset manager reported on Friday, citing institutional clients' top-down asset allocation decisions to pull back on emerging market hard-currency debt and other fixed income in developing economies. Meanwhile, a positive investment performance of $1.1 billion cushioned the overall impact on assets under management, which stood at $55.9 billion at the end of June. "There remains some global macro uncertainty and certain investors have therefore reduced risk during the quarter," said Chief Executive Mark Coombs. "However, emerging markets continue to perform well, with support from improving fundamentals such as accelerating GDP growth, falling inflation and the potential for rate cuts, as well as the benefit of a weaker U.S.
Persons: Jeffries, Ashmore, Mark Coombs, Karin Strohecker, Dhara Ranasinghe, David Goodman Organizations: Thomson
Prime Day 2023 ends tonight and we're still working hard to round up all the best deals of day 2. Down to $164.99, this Prime Day price matches the record low we saw for Black Friday. On select sizes and colors, you can get up to 60% off, the lowest Prime Day price to date. Even with a newer C3 model out this year, this remains a better value, especially at this current Prime Day deal price. This Prime Day deal is the best price we've ever seen, and it's only available by invite for Prime members during Amazon Prime Day.
Persons: we're, we've, snagging, We're, I've, Sarah Saril, you've, we'd, We've, they're, it's, Amazon’s, eero, You'll, Apple, Bose, AirPods, Price, Price Roku, Dolby, Max, Price Casper, Casper, Coop, it’s, It's, Rich, wicks, Price Bowflex, Garmin Venu, Venu, you’ve, Luna, Riley C.E.O, Sunday Riley, It’s, Murad Retinol, Kit Burt's, Kit, They're, Snuggies, Elaine Benes, Kenneth Cole, Steven Madden, Martens, Ray Bans, Vines, Price Calvin Klein, Calvin Klein racerback, Grey Heather, Now's, JW Pei, Price Honeywell, Price Apple, Price Arlo, we’ve, fryer, Bento, bento, you'll, LaCroix, seltzer, Foodi, Fryer, Pro Air Fryer, Price Dyson, Dyson, Hoover, Decker, Bissell, Price Dell, Price LG, Ed, Swift, Zelda, Price Hori, Con Organizations: Tech, Apple, Amazon, Prime, Black, Alexa, Amazon's, Echo Studio, Music, Price Apple, Price Sony WH, Sony, Samsung, LG, Walmart, Casper, Health, Bands, Price Garmin, Garmin, OSHA, Optimum, Theragun's, Amazon Prime, Sunday, Panasonic, frizz, Amazon Deal, GAP, Adidas, Chelsea, Deal, Navy, Columbia, Honeywell, Energy, Steam, IRIS, GE, Oster Digital, Fryer, Oster, OmieGo, ICE, Pro Air, ICM, Deal LG, Fire, Price LG, PlayStation, Google, Price NVIDIA, HP, Price Samsung, MacBook Air, Asus, Mobile, Lenovo, Intel, AMD, Monitor, Seagate, Dell, Monitor Samsung, ASUS, Gaming, EA Star Wars, Star, Nintendo, Gray, Super Nintendo Entertainment Locations: Siena, Birch, Sol, Colombia, Cha Kyusu, sharpener, Whynter, it's, It's
Down to $164.99, this Prime Day price matches the record low we saw for Black Friday. $10.14 from Amazon Originally $25.00 Save 59%Prime Day deals: StyleWe've got you covered for head-to-toe deals across the fashion world today. This Prime Day deal is the best price we've ever seen, and it's only available by invite for Prime members during Amazon Prime Day. $12.99 from Amazon Originally $23.99 Save 46%More Prime Day dealsDeal icon An icon in the shape of a lightning bolt. You'll also get a bonus of $10 with this Prime Day deal when you use the code "HAPPY" and spend $50.
Persons: we've, snagging, We're, you've, we'd, We've, they're, it's, Amazon’s, eero, You'll, Apple, Bose, AirPods, Price, Price Roku, Dolby, Max, Price Casper, Casper, Coop, it’s, It's, Rich, wicks, Price Bowflex, Garmin Venu, Venu, you’ve, Riley C.E.O, Sunday Riley, It’s, Murad Retinol, Kit Burt's, Kit, Kenneth Cole, Steven Madden, Martens, Vines, Herschel, Price Calvin Klein, Calvin Klein racerback, Now's, JW Pei, Price Apple, Price Arlo, we’ve, Bento, bento, you'll, LaCroix, seltzer, Foodi, Fryer, fryer, Hoover, Decker, Dyson, Bissell, Zelda, Price Hori, Con, Ed, Collar, Gray, Inaba, Brown Rice, Robin Organizations: Apple, Amazon, Prime, Black, Alexa, Amazon's, Echo Studio, Music, Amazon Deal, Price Apple, Samsung, LG, Walmart, Casper, Health, Bands, Price Garmin, Garmin, OSHA, Optimum, Theragun's, Amazon Prime, Sunday, Panasonic, frizz, Adidas, Chelsea, Herschel Supply, Deal, Navy, Columbia, Energy, Steam, IRIS, GE, OmieGo, ICE, Quart, ICM, Deal LG, Fire, Price LG, PlayStation, Google, Price NVIDIA, Computers, Gaming, Nintendo, MacBook Air, Asus, Mobile, Lenovo, Intel, AMD, Monitor, Seagate, Dell, Monitor Samsung, Gray, Super Nintendo Entertainment, ASUS, Buffalo, Pets, Deal Samsung Galaxy, Galaxy, Fujifilm, Marvel, Deal Indiana Jones, Indiana Jones, — Raiders Locations: Siena, Birch, Sol, Colombia, Cha Kyusu, sharpener, Whynter, it's, It's, Kingdom
The U.S. economy has shifted from a "rolling recession" to a "rolling recovery," according to market veteran Ed Yardeni. Instead, it has experienced what the head of Yardeni Research calls a "rolling recession" — various industries being hit at different times since early last year. In addition, one unique factor influencing the U.S. economy is the large-scale fiscal stimulus, like the Inflation Reduction Act, implemented before an actual recession, according to Yardeni. When questioned about the strength of this recovery, Yardeni confirmed that he'd doubled his growth forecast for the second quarter. Don Mason | Tetra Images | Getty ImagesThe U.S. economy has shifted from a "rolling recession" to a "rolling recovery," according to market veteran Ed Yardeni.
Persons: Ed Yardeni, Yardeni, CNBC's, he'd, Don Mason Organizations: Federal Reserve, Yardeni Research, Goods, Consumers, Deutsche Bank Locations: U.S
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