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☆ Every month, economists expect the labor market to slow. Will it ever?
▼ + stars: | 2024-04-09 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +3 min

New York CNN —Almost every month, economists expect the hot US labor market to start showing signs of exhaustion. The booming labor market has to run out of gas eventually, right? Enjoy it while it lastsHistorically speaking, there’s only so long a really good labor market can last until, for instance, a recession or tighter financial conditions disrupt it. Taken together, that could mean the life expectancy of the current labor market isn’t very long. One big reason why the labor market continues to defy expectations is the result of a surge in immigration over the past year.

Persons: February’s, Jefferies, Thomas Simons “, ” “, Simons, Will Baltrus, That’s, ” Dante DeAntonio Organizations: New, New York CNN, Conference, Labor, Bureau of Labor Statistics, Brookings, Moody’s Locations: New York

☆ A renowned market bear who called the dot-com bubble warns the AI and economic recovery narratives fueling stocks are weak as analyst optimism sours — and says the Fed is fueling a bubble as valuation
▼ + stars: | 2024-04-06 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

About 45% of changes to S&P 500 analysts' earnings estimates are upgrades, as shown in the chart below, down from 50% in early 2023. AdvertisementSociete GeneraleHistorically, analyst optimism has been a good indicator for the economy's direction. Below is the S&P 500's year-over-year percentage change along with the analyst optimism measure. He says the S&P 500 is in a bubble fueled by AI optimism and could fall as much as around 60%. He sees potential downside of 39% for the S&P 500.

Persons: —, Albert Edwards, Edwards, Powell's, Ed Yardeni, Let's, There's, Jeremy Grantham, David Rosenberg, Merrill Lynch Organizations: Service, Societe Generale, Business, Street, Nasdaq, Generale, Conference, Institute for Supply, subsiding, Fed, repo, Bureau of Labor Statistics, Bears, Rosenberg Research, policymaking

☆ It’s jobs week. Here’s what to watch for
▼ + stars: | 2024-04-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —Welcome to jobs week. Fed Chair Jerome Powell said last week that a weakening labor market would be a reason to reduce interest rates. It’s hard to imagine that this jobs report will substantially move the needle on Fed policy, said Michael Brown, a senior research strategist at Pepperstone. The Conference Board’s February Consumer Confidence survey found that “Consumers’ appraisal of the labor market was more positive in March” than in previous months. The week ahead: While the main event this week is Friday’s jobs report, there’s plenty of other jobs data this week for traders to grab on to.

Persons: Jerome Powell, I’ll, nonfarm, ”, Dave Sekera, “, ‘, we’re, Goldman Sachs, Michael Brown, Powell, Brown, It’s, Donald Trump, Matt Egan, Trump, That’s, Natasha Chen Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Goldman, Labor, Stanford, Social, Trump Media & Technology Group, Trump Media Locations: New York, ”, California

☆ Tenacious stock market heads into new quarter aiming to show it's not beholden to the Fed's rate plans
▼ + stars: | 2024-04-01 | by ( Michael Santoli | ) www.cnbc.com time to read: +9 min

.SPX YTD mountain S & P 500, YTD Here's a scouting report covering a few relevant themes at play heading into the second quarter. The tenacious tape The behavior of the market itself is perhaps the strongest selling point for a bullish outlook from here. After the S & P has returned 10% or more in a first quarter? The index continued higher the following quarter nine of those 11 and was up the remainder of the year all but once. All but one of the previous episodes saw the market higher nine months later, which in this case would take it through 2024.

Persons: It's, YTD, we've, it's, —, Joe Kalish, Ned Davis, – Organizations: Federal, Ned, Ned Davis Research, Treasury, Fed, JPMorgan, Microsoft, Nvidia, Broadcom, AMD, Eaton Corp

☆ A 32-year market vet warns the S&P 500 is set to fall 50%-70% in the years ahead with valuations at historic highs — and says that an imminently weakening labor market will be the catalyst for the cra
▼ + stars: | 2024-03-30 | by ( William Edwards | ) www.businessinsider.com time to read: +6 min

According to Bank of America, valuation levels explain 80% of the market's return over a 10-year period. Bank of AmericaThere are many ways to measure valuation levels in the overall market. Hussman says it's the most accurate indicator of future market returns that he's found. AdvertisementThe Conference BoardThird, the number of US states with a rising unemployment rate is spiking, meaning that the overall unemployment rate should see further upside. BullAndBearProfits.comThe US unemployment rate is already on a slight uptrend, having climbed from 3.4% in April 2023 to 3.9% as of February.

Persons: —, Jon Wolfenbarger, Merrill Lynch, John Hussman's, he's, Warren Buffett, Wolfenbarger, Stocks, Woflenbarger, Cam Harvey, Claudia Sahm, Louis Fed, Jeremy Grantham, John Hussman, David Rosenberg, Goldman Sachs, David Kostin, America's Savita Subramanian, Ian Shepherdson, Shepherdson Organizations: Service, Bank of America, Business, JPMorgan, National Federation of Independent Business, Board, Treasury, Bank, America's

☆ The wealth of the 1% just hit a record $44 trillion
▼ + stars: | 2024-03-28 | by ( Robert Frank | ) www.cnbc.com time to read: +4 min

Middle-class Americans have also seen a rising wealth tide, with the middle 50% to 90% of Americans seeing their wealth increase 50%. The value of corporate equities and mutual fund shares held by the top 1% surged to $19.7 trillion from $17.65 trillion the previous quarter. The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter, as an end-of-year stock rally lifted their portfolios, according to new data from the Federal Reserve. Economists say the rising stock market is giving an added boost to consumer spending through what is known as the "wealth effect." "Of course, this highlights a vulnerability of the economy if the stock market were to falter.

Persons: Robert Frank, Mark Zandi, Zandi, Liz Ann Sonders, Charles Schwab, – Sonders Organizations: Federal Reserve, Moody's, Stocks, Conference Board Locations: U.S

☆ Here’s why the Fed doesn’t see a US recession in coming years
▼ + stars: | 2024-03-24 | by ( Bryan Mena | ) edition.cnn.com time to read: +6 min

“The economy is strong, the labor market is strong and inflation has come way down,” Fed Chair Jerome Powell said Wednesday. Fed officials continue to expect three rate cuts this year but the days of ultra-low interest rates are long gone. Up NextMonday: The Chicago Fed releases its National Activity Index for February. The US Commerce Department releases February data on sales of new single-family homes. The US Commerce Department releases February data on household spending, income and the Fed’s preferred inflation gauge.

Persons: Goldman Sachs, Jerome Powell, Mike Skordeles, Skordeles, ” Stephanie Lang, Homrich Berg, ”, Clare Duffy, Reddit, Read, Lisa Cook, Christopher Waller Organizations: Washington CNN, Fed, Truist Advisory Services, CNN, Atlanta Fed, Employers, New York Stock Exchange, Trading, IPOs, Chicago Fed, US Commerce Department, McCormick, GameStop, Global, Board, Wednesday, Walgreens Boots Alliance, US Labor Department, University of Michigan, National Association of Realtors

☆ The Trapped Economy: Americans Can't Buy a Home, Car, or Find a New Job
▼ + stars: | 2024-03-20 | by ( Emily Stewart | ) www.businessinsider.com time to read: +7 min

If you like your situation right now — your job, your house, your car — you can keep it. The labor market has cooled off somewhat, making it less advantageous to hunt for a new job. The car market is in a similar situation. Employers are hiring as if there's a relatively weak labor market, not a strong one. Yes, the labor market is strong, but it's not a great time to go looking for a new job.

Persons: Joanne Hsu, there's, they're, —, Dana Peterson, that's, it's, Matt Darling, Darling, Tamara Charm, Charm, Emily Stewart Organizations: University of Michigan, Labor Statistics, Conference Board, Companies, Employers, Niskanen, McKinsey, Business

☆ Opinion: Trump gives Biden one big lift
▼ + stars: | 2024-03-17 | by ( Richard Galant | ) edition.cnn.com time to read: +18 min

Former President Donald Trump’s favorability ratings are only slightly better. The bipartisan legislation to control the flow of migrants across the southern border was blown up by opposition from Trump. One thing that is going right for Biden is Trump himself. “I want to vote for Donald Trump in November, wrote Marc A. Thiessen in the Washington Post. … Just like office holders have released their tax returns (up until former President Donald Trump), I would like to see more candidates release their physical and mental health assessments,” Schurman observed.

Persons: Oscar, ” Ramy Youssef, hungers, Max McCandles, Godwin Baxter, “, Frankenstein, Willem Dafoe, McCandles, Baxter, who’s, ”, Joe Biden’s, Donald Trump’s, Biden, Clay Jones, Trump, Ruth Ben, Ghiat, “ Vladimir Putin, Recep Tayyip Erdogan, Viktor Orban, Adolf Hitler, Xi Jinping, Kim Jong, Saddam Hussein, —, — Donald Trump, ‘, ” Ben, Donald Trump, Marc A, Thiessen, Will, that’s, Dana M, Peterson, Erik Lundh, Will RFK, Mary ’, Aaron Rodgers, Julian Zelizer, Kamala Harris, Andrey Spektor, Hunter Biden, Andrea Hailey, We’re, Frederick D, Dennis Aftergut, Bill Bramhall, Hilary Krieger, Gary Schmidt, ” Bradley Schurman, …, Schurman, Robert Hur, Jack Ohman, Patrick T, Brown, Hur, Republicans “, Biden’s, Franklin D, Roosevelt, Willis, Fani Willis, Willis ’, Nathan Wade, Wade, Norman Eisen, Danya Perry, Joshua Kolb, Scott McAfee, Wade’s, ” “, ’ Biden, ” Jose Antonio Vargas, “ It’s, ” Dana Summers, Garry Pierre, Pierre, Ariel Henry, Henry, America sneezes, Frida Ghitis, TikTok, ” Ghitis, Catherine, Princess, Kate, George, Princess Charlotte, Prince Louis, ” Rosa Prince, Louis ’, William, ’, ” Prince, Ekaterina Kotrikadze, Jonathan I, Fareed Zakaria, Carrie Sheffield, Noah Berlatsky, Kristen Stewart’s, queerness, Doug Heye, MAGA Trump, Dean Obeidallah, Katie Britt’s, Amy Hanauer, Naomi Walker, Robert Downey Jr, Da'Vine Joy Randolph, Emma Stone, Cillian Murphy, Arturo Holmes, Jeff Yang, Jack Palance, Warren Beatty, Faye Dunaway, they’d, ” Yang, Cord Jefferson, Lily Gladstone, “ Gladstone, she’s, Leonardo, DiCaprio, Robert DeNiro, Emma Stone’s, Bella, ” Stone Organizations: CNN, Trump, Hamas, GOP, Washington Post, Mar, Hungarian, ”, Conference Board, Will RFK Jr, White House, American Enterprise Institute, Biden, Union, Republicans, Twitter, Pew Research Center, Content Agency Haiti, Haitian Times, Haitian, America, Kensington Palace, AP, Reuters, Agency, North, Hollywood Locations: Gaza, Israel, Ohio, Washington, Ukraine, Afghanistan, America, Georgia, Fulton County, Fulton, he’s, Florida, Texas, Haiti, Puerto Rico, Maryland, China, Wales, Kensington, North America, La, American

☆ Recession odds are 'very high' as economy looks poised to see an unemployment wave and plunging consumer spending, chief economist says
▼ + stars: | 2024-03-14 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

The odds of a recession are "very high" in the US, according to Joe LaVorgna. AdvertisementThe odds of the economy tipping into a recession are "very high," as the US is poised to see a wave of unemployment and a major drop in consumer spending. Advertisement"All three of those metrics are still flashing recession," LaVorgna said. AdvertisementStrong consumer spending on goods also looks poised to drop, which could end up dragging economic growth lower, LaVorgna said. "It makes me think recession risk … still has a very high probability," he added.

Persons: Joe LaVorgna, LaVorgna, — Organizations: Service, Nikko Securities, Rosenberg Research, Treasury, Investor Locations: Nikko

☆ The Big Stay is great for companies and the economy, but workers might just be biding their time
▼ + stars: | 2024-03-14 | by ( Allie Kelly | ) www.businessinsider.com time to read: +5 min

Read previewProductivity for many companies is soaring — all thanks to the "Big Stay." AdvertisementThere are a couple of reasons workers have shifted to the Big Stay, Glassdoor Chief Economist Aaron Terrazas told Business Insider. The US economy added 275,000 jobs last month, but the job market recovery from the pandemic is slowing. The Big Stay has benefits, but they may be short-livedTerrazas said lower quit rates are giving way to high productivity across companies. At the same time, job openings have tumbled since post-pandemic highs, forcing a lot of workers to stay in their roles.

Persons: —, Aaron Terrazas, Terrazas, It's Organizations: Service, Companies, Bureau of Labor Statistics, Business, Employees, The Conference Board, Labor Statistics, Federal

☆ Polls Missing US Economy's Strength Will Make the Next Recession Worse
▼ + stars: | 2024-03-12 | by ( George Pearkes | ) www.businessinsider.com time to read: +12 min

By underweighting the experience of certain groups — especially lower-income or frontline workers — policymakers could learn the wrong lessons from the post-pandemic economy. The Great DivergenceIf you ask Americans how the economy is doing, the general sentiment can be summed up in one word: bad. Similarly, the Conference Board's consumer confidence data isn't quite at its post-Great Recession lows, but it's far below its 2017-19 average. The ASEC data uses a very large sample to provide the best possible insight into households' economic well-being, with more than 75,000 households participating. Similarly, the focus on the prospect of a recession soared, even outdoing the period in 2020 when the economy was actually in a recession.

Persons: it's, —, Pew Organizations: University of, Conference, Labor Statistics, Government, Bureau of Labor Statistics, NFL, Minnesota Vikings, Green Bay Packers, Chicago Bears, BLS, Census, Federal Locations: telemarketers, nonresponses

☆ Economy will slow to a growth rate of 0-1% over the course of Q2-Q3, says Dana Peterson
▼ + stars: | 2024-03-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEconomy will slow to a growth rate of 0-1% over the course of Q2-Q3, says Dana PetersonDana Peterson, The Conference Board chief economist, and Nathan Thooft, Manulife Investment Management CIO and senior portfolio manager, join 'Squawk Box' to discuss the state of the economy, the Fed's interest rate decision, inflation outlook, and more.

Persons: Dana Peterson Dana Peterson, Nathan Thooft Organizations: The Conference Board, Manulife Investment

☆ For Black workers, progress in the workplace but still a high hill to climb
▼ + stars: | 2024-02-27 | by ( Jeff Cox | ) www.cnbc.com time to read: +10 min

"We were in a situation where folks accepted that Black unemployment was going to always be high and there was nothing that they could do about it. The Black unemployment rate in January was 5.3%, up a touch from December but still near the all-time low of 4.8% hit in April 2023. For Black workers, weekly before-tax earnings as of the end of 2023 have risen 24.8% since the first quarter of 2020. "High unemployment for Black workers is a solvable problem," Fulton said. Black workers are interested in tech and believe there are opportunities.

Persons: Ali, Jamila Wright, there's, Jessica Fulton, Fulton, Cox, she's, MilSpouse, they've, Sue Harnett, Goldman Sachs, Harnett, I'm, Ali Wright Organizations: Brooklyn Tea, Joint Center, Political, Economic Studies, D.C, U.S . Bureau of Labor Statistics, McKinsey & Company, Companies, Bank of America, Black Colleges, Universities, New, Small Business Administration, Ivy League, Conference Board Locations: America, U.S, Washington, Brooklyn, New York City, Atlanta

☆ US consumer confidence soured in February for the first time in three months
▼ + stars: | 2024-02-27 | by ( Bryan Mena | ) edition.cnn.com time to read: 1 min

Washington, DC CNN —Americans’ attitudes toward the economy soured in February after a three-month streak of improving moods, according to The Conference Board’s latest consumer survey released Tuesday. The survey’s index fell in February to 106.7, down from a reading of 110.9 in January. Americans became less worried about rising food and gas prices, but more concerned about the job market, the survey showed. “The drop in confidence was broad-based, affecting all income groups except households earning less than $15,000 and those earning more than $125,000,” Dana Peterson, chief economist at The Conference Board, said in a release. “Confidence deteriorated for consumers under the age of 35 and those 55 and over, whereas it improved slightly for those aged 35 to 54.”This story is developing and will be updated.

Persons: ” Dana Peterson Organizations: DC CNN, Conference Locations: Washington

☆ Americans have racked up a trillion dollars in credit card debt. That’s actually okay
▼ + stars: | 2024-02-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Americans racked up a record amount of credit card debt in 2023, soaring past a trillion dollars. “Consumers still have a lot of money left over to be able to spend, so the credit card data is often misinterpreted,” Russell Price, chief economist at Ameriprise Financial, told CNN. According to a LendingTree analysis of more than 350,000 credit reports, the average unpaid credit card balance was $6,864 in the fourth quarter. Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period. So, while there certainly isn’t a shortage of economic hurdles bedeviling people’s budget — and credit card debt has surged — the big picture indicates that, so far, Americans (and their economy) remain healthy.

Persons: ” Russell Price, Price, haven’t, market’s, ” Gregory Daco, ” Lara Rhame, Laura, Jensen Huang, Christine Lagarde, Virgin, Michael Barr, Raphael Bostic, Susan Collins, John Williams, Papa, Austan Goolsbee, Loretta Mester, fuboTV, Christopher Waller, Mary Daly, Adriana Kugler Organizations: CNN Business, Bell, DC CNN, Workers, New York Fed, Consumers, Ameriprise, CNN, Federal Reserve Bank of New, . New York Fed, Employers, Soaring, FS Investments, Nvidia, Huawei, AMD, Microsoft, Broadcom, US Commerce Department, Central Bank, eBay, Smucker, Urban Outfitters, Global, Board, TJX, Monster Beverage, Baidu, HP, Paramount Global, Anheuser, Busch Inbev, Dell Technologies, Papa John’s, US Labor Department, National Association of Realtors, P, China’s National Bureau, Statistics, Pearson, P Global, Institute for Supply Management, University of Michigan Locations: Washington, Federal Reserve Bank of New York, ., EY, Santa Clara, Singapore, Shenzhen, China, Beijing, CAVA

☆ A trusted indicator is fueling recession warnings from Jeremy Grantham and other gurus. What you should know about the Leading Economic Index.
▼ + stars: | 2024-02-21 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

The Leading Economic Index fell for the 22nd consecutive month in January. This story is available exclusively to Business Insider subscribers. The Leading Economic Index brings all of those together to gauge the future state of the economy across multiple dimensions, from growth and unemployment to consumer demand and homebuilding. Here's a screenshot showing the index's historic decline, from The Conference Board's latest release:AdvertisementThe Leading Economic Index has consistently declined ahead of previous recessions. There's no guarantee these four market veterans are right about the Leading Economic Index.

Persons: —, Here's, joblessness, David Rosenberg, Merrill Lynch, Jeremy Grantham, Jeffrey Gundlach, Gary Shilling, There's Organizations: Service, Business, Conference Board, Treasury, Manufacturers, Institute, Supply, The Conference, Board, Rosenberg Research, North, DoubleLine, Conference Locations: North American

Former President Donald J. Trump, the front-runner for the Republican nomination, has repeatedly attacked central elements of the Inflation Reduction Act, including tax credits for purchasing electric vehicles. “Otherwise it’s all going to be on the chopping block.”The Inflation Reduction Act contains various tax credits and other subsidies to incentivize companies to deploy more clean energy projects. It also includes tax breaks for consumers to offset the cost of electric vehicles, heat pumps and other energy-efficient appliances. That could cut the number of eligible vehicles, potentially hindering progress toward the Biden administration’s goal of having electric vehicles make up half of new car sales by 2030. The estimated cost of the Inflation Reduction Act’s energy incentives has effectively doubled since it passed, largely because forecasters believe the legislation will be more popular than they originally expected.

Persons: Biden, Donald J, Trump, “ We’ve, Frank Pallone Jr, Thomas Pyle, ’, Pyle, Kevin Book, Sean Rayford, ” Mr, John Ketchum, Ketchum, “ It’s, Mr, Sasha Mackler, David Carroll, we’ve, Carroll, T.J . Kirkpatrick, ” Michael Kikukawa, Lori Esposito Murray, Ms, Murray, Jeanna Smialek Organizations: Republican, Democratic, Company, Biden, House Energy, Commerce, American Energy Alliance, ClearView Energy Partners, The New York Times, NextEra Energy, Republicans, Center, Engie, White, Economic Development, Conference Board, “ Locations: States, China, New Hampshire, America, Indiana, Texas, Irvine , Calif

☆ A closely watched gauge of economic activity says no recession headed for the US
▼ + stars: | 2024-02-20 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

The Conference Board's Leading Economic Index fell to its lowest level since April 2020. It marks the first time since July 2022 that the gauge is not signaling a recession ahead. The Conference Board's Leading Economic Index– a gauge of future economic activity — dropped 0.4% to 102.7 in January, signaling the lowest level since April 2020 when the US economy was struck by the COVID-19 pandemic-spurred lockdowns. "The U.S. LEI fell further in January, as weekly hours worked in manufacturing continued to decline and the yield spread remained negative," the Conference Board's Justyna Zabinska-La Monica said on Tuesday. As a result, the leading index currently does not signal recession ahead."

Persons: —, LEI, Monica, Andrew Hollenhorst, David Rosenberg Organizations: Service, Conference Board, Federal Reserve Locations: U.S

☆ 3 signs the economy is thriving — and 3 red flags to monitor
▼ + stars: | 2024-02-15 | by ( Noah Sheidlower | Madison Hoff | ) www.businessinsider.com time to read: +10 min

Positive labor market data and GDP growth support this, but job opportunities in some sectors are down. Not all job data is positive, with job openings falling from their post-pandemic highs. Below are some of the signs the economy is thriving, as well as some warning signs. Labor market data is mostly positiveThe labor market is still stable despite gradually slowing, Kimbrough said during the forum. "I think the investment side of our economy is going to start to chip away a little bit at the discretionary consumption weight in our economy."

Persons: —, Marc Giannoni, LinkedIn's Karin Kimbrough, Charles Schwab's Liz Ann Sonders, Giannoni, Kimbrough, Jerome Powell, Powell, NerdWallet's Elizabeth Renter, Sonders, They're, there’s, there's, — Kimbrough, it’s Organizations: Federal, Service, Barclays, NYU Stern Economic, Labor, Conference, University of Michigan's, Market Committee, Health, New, New York City Housing Locations: York, New York City

☆ How Elon Musk's war on Delaware could change the way corporations make some of their biggest decisions
▼ + stars: | 2024-02-14 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

It remains to be seen what Tesla will do about Elon Musk's pay just a few weeks after a Delaware judge voided his $56 billion compensation package, the largest CEO pay package in public corporate history. But Musk has already made some big decisions, including a declaration of a war on the state of Delaware. "Never incorporate your company in the state of Delaware" Musk posted on X shortly after the decision. "Put simply, neither the Compensation Committee nor the Board acted in the best interests of the Company when negotiating Musk's compensation plan. But even as those figures have risen, Musk's compensation would be an "outlier among outliers," said Matteo Tonello, managing director at The Conference Board.

Persons: Elon Musk, Tesla, Elon Musk's, Musk, Chancellor Kathaleen McCormick, McCormick, Charles Elson, Todd Maron, Elson, Matteo Tonello Organizations: Elon, Twitter, Fortune, Weinberg, Corporate, Tesla, Company, The Conference Board Locations: Krakow, Poland, Delaware, Texas, Nevada

☆ Surging restaurant prices are making dining out even more of a luxury
▼ + stars: | 2024-02-13 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

That’s because prices for groceries are up 1.2% year over year, while the price of food consumed at restaurants is up 5.1%. And in this election year, higher food prices, which rose last month to their highest monthly rate in a year, could present problems for President Joe Biden’s campaign. In January 2023, it was cheaper to dine out, with food prices up 8.2% compared to the prior year. In the post-pandemic world, consumers have been devoting more of their budgets to services compared to goods. As a whole, prices for services — which include dining out, transportation and entertainment — were up 0.7% in January compared to the prior month.

Persons: you’ve, Joe Biden’s, What’s, ”, Dana Peterson, ” Goldman Sachs Organizations: New, New York CNN, Conference Board Locations: New York

☆ Consumers are currently in a win-win situation, says Dana Peterson
▼ + stars: | 2024-02-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailConsumers are currently in a win-win situation, says Dana PetersonDana Peterson, Chief Economist at The Conference Board, discusses the January CPI report.

Persons: Dana Peterson Dana Peterson Organizations: Consumers, Conference Board

☆ The Fed probably won’t cut rates in March. Here’s what that means for markets
▼ + stars: | 2024-02-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Investors now expect that the Fed will begin easing back rates in May or June, according to the CME FedWatch Tool. Before the Bell: What does the Fed’s signal that it won’t cut rates in March mean for markets? I think what’s important for the markets themselves is the fact that the Fed has signaled they’re going to cut rates. So, they’re going to cut rates at some point this year, probably May or June is going to be the first cut that we get. There’s a lot of areas where your earnings … start to reaccelerate higher, and that’s a good thing.

Persons: Stocks, Jerome Powell, Bell, Matt Orton, I’ve, We’re, it’s, Matt Egan, Read, Price Organizations: CNN Business, Bell, New York CNN, Investors, Fed, Raymond James Investment Management, The Conference, Conference, Avis Budget Group, Hasbro, Cola, Molson Coors, The, Labor Statistics, Kraft, Heinz, The Commerce Department, National Association of Home Builders, University of Michigan Locations: New York, Wells Fargo

☆ The big business of the Super Bowl, from competing advertisers to the ultrawealthy networking
▼ + stars: | 2024-02-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at the big business of the Super Bowl, from advertisers to the ultraweal thy . Developing and filming a Super Bowl ad typically runs 50% to 60% more than a regular one. AdvertisementFor some first-time Super Bowl advertisers, the commercial is a jumping-off point for a bigger campaign, writes BI’s Lauren Johnson. The Super Bowl is also a calendar staple for the ultrawealthy, writes BI’s Madeline Berg. A record 68 million Americans are projected to bet $23.1 billion on the Super Bowl, according to the American Gaming Association.

Persons: —, Taylor Swift, Travis Kelce, Patrick Smith, Emily Stewart, that’s, Ryan Joe, Lara O’Reilly, Ryan, BI’s Lauren Johnson, RYU, BI’s Madeline Berg, Elon Musk, Rupert Murdoch —, VistaJet, BI’s Taylor Rains, Grace Kay, it’s, BI’s Juliana Kaplan, Cork Gaines, Usher, David Rosenberg, Quants, Getty, David Butow Here’s, Tesla, Sissie Hsiao, Bard, Gemini, Uber, Dara Khosrowshahi, Lucas Jackson, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, ign, Super, Elon, Private, American Gaming Association, San Francisco 49ers, Kansas City Chiefs, Renaissance Technologies, Man, AHL, UBS, Google, Reuters, Merchants, Conference, PepsiCo Locations: Sun Valley, YOLO, New York, London

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