Key takeaways from last week. Australia’s GDP surprised by a decline in the 3rd quarter, printing 0.2% (2.1% annually). Compared to expectations, the main disappointment in the quarter was consumer spending, which was flat in Q3 after rising just 0.1% in Q2. Per capita consumption growth is in the region of -2.0% per annum, second … Read more
Market movement today There are no market movers on the calendar today. This week we’ll focus on US data releases with the planned November jobs report, ISM services and the University of Michigan survey. We expect further cooling in non-farm payrolls on Friday to +140k and expect average hourly earnings to grow steadily at 0.2%. … Read more
Earlier this month, Western Hemisphere leaders gathered in Washington DC to outline a new framework for economic cooperation in the region. The framework in question, the American Partnership for Economic Prosperity (APEP), aims to address a variety of economic, environmental and social challenges. While the inaugural meeting announced five new initiatives, there were no concrete … Read more
Amazon (AMZN), the nation’s largest shipping company, is predicted to expand its club name. The holiday online shopping season is off to a strong start this year, giving us another reason to be confident in the company’s retail business. Amazon has surpassed United Parcel Service (UPS) for the first time in 2022, shipping 5.2 billion … Read more
COLUMBUS, Ohio (WSYX) – At Utility Group Solutions, employees and owners proudly wear a USA flag patch on their shirt sleeves. “Made in America” is an underlying theme at USG, not only in the products they manufacture and ship from their Columbus manufacturing center, but also in the leadership team. Wrestling veterans Danny Fields and … Read more
An hour ago The OPEC+ oil group is set to hold a virtual meeting on November 30. The Opec logo on a smartphone shows OPEC in the background, in this photo example. On September 10, 2023 in Brussels, Belgium. (Photo illustration by Jonathan Rae/NurPhoto via Getty Images) Nurphoto Nurphoto Getty Images The influential oil group, … Read more
OPEC decided to postpone this weekend’s meeting until next week as talks between the Saudi and African members apparently hit a snag. Saudi Arabia probably sensed in this week’s poor price action — “buy the fact that Saudi Arabia will double down on production cuts” — that another 1 mbpd cut is not sending oil … Read more
The previous week marked a significant shift in market sentiment regarding expectations of a Federal Reserve (Fed) rate hike. The latest Consumer Price Index (CPI) update revealed a slower-than-expected inflation rate in the US, along with politicians fending off a government shutdown. Despite these factors, the US 2-year yield tested 4.80% for a fourth time, … Read more
SAN FRANCISCO (Reuters) – The Biden administration has vowed to continue negotiating a major Asia trade deal, but election-year pressures and strong resistance from some countries have made a deal unlikely, trade experts and trade groups said. The Biden administration’s Indo-Pacific Economic Framework (IPEF) initiative concluded key trade milestones at this week’s Asia-Pacific Economic Cooperation … Read more
U.S. stocks rose more than 5% after October CPI data showed inflation rose at a faster-than-expected pace. I like to use the iShares Russell 2000 ETF (IWM), which seeks to track the investment performance of the Russell 2000 index by measuring the performance of the small-cap sector of the US equity market. The trailing index … Read more
