Global stock markets are in the grip of a deepening rout, prompting investors to turn to one of the most historically accurate indicators to determine whether the U.S. economy is in recession. The so-called “Sahm rule” has observed without fail that the initial phase of a recession has started when the three-month moving average of … Read more
Traders work on the floor of the New York Stock Exchange during afternoon trading on August 02, 2024 in New York City. Michael M. Santiago | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no … Read more
In its fiscal third-quarter earnings report to investors in late June, pharmacy chain Walgreens announced plans to close a “significant” number of its 8,600 U.S. stores. CEO Tim Wentworth said only 75% of the chain’s locations were making a profit, and that the other one-quarter of them faced the chopping block by 2027. This was … Read more
Record inflation may have people questioning whether homeownership is still a good investment. Home prices have been rising faster than incomes, which can be a problem for homeowners because as the value of a home rises, so does the cost to maintain it. More than 1 in 4 homeowners with mortgages are considered “cost-burdened,” meaning … Read more
People walk through a Manhattan mall on July 05, 2024 in New York City. Spencer Platt | Getty Images News | Getty Images Hiring in the U.S. slowed significantly last month, with information and financial sectors registering job losses. The information services sector was a notable weak spot for July, posting a job loss of … Read more
Tom Merton | Ojo Images | Getty Images Job seekers have been sour on the job market for awhile now — and with good reason. “The soft landing in the U.S. labor market is in danger,” Nick Bunker, Economic Research Director for North America for Indeed Hiring Lab, wrote in a statement on Friday. “Yellow … Read more
A man walks past an electronic quotation board displaying the exchange rate for the Japanese yen against the US dollar in Tokyo on August 2, 2024 Kazuhiro Nogi | Afp | Getty Images The key driver of global markets is the yen exchange rate, according to one financial historian, who warned the trend should concern … Read more
Traders work on the floor of the New York Stock Exchange on July 24, 2024. Spencer Platt | Getty Images Treasury yields fell Thursday as investors digested comments from Federal Reserve Chair Jerome Powell, who suggested a September rate cut was on the table, along with a jump in U.S. jobless claims. The benchmark 10-year … Read more
Customer shopping for school supplies with employee restocking shelves, Target store, Queens, New York. Lindsey Nicholson | UCG | Universal Images Group | Getty Images Now, as the central bank sets the stage to lower interest rates for the first time in years when it meets again in September, consumers may see their borrowing costs … Read more
U.S. orange production has plummeted as the industry faces volatile threats from extreme weather events, an incurable disease and economic pressures. Citrus growers are losing millions of dollars every year, according to the United States Department of Agriculture. At the same time, orange juice futures have hit record highs. “Citrus production in the United States … Read more
