economic performance

5 ways the housing market left buyers in the dust — and it's not over yet

5 ways the housing market left buyers in the dust — and it’s not over yet

The housing market is finally catching a breath after a two-year sprint. A new report breaks down how the frenzy unfolded. The report, called the ‘State of the Nation’s Housing 2022’ by Harvard Joint Center for Housing Studies, reveals the steep rise in costs associated with owning or renting a home, and how competition among …

5 ways the housing market left buyers in the dust — and it’s not over yet Read More »

Here's why Larry Summers wants 10 million people to lose their job

Here’s why Larry Summers wants 10 million people to lose their job

An earlier version misstated the name of the concept called the Sacrifice Ratio. Former U.S. Treasury Secretary Larry Summers says there needs to be a surge in unemployment to curb inflation, which Federal Reserve policymakers say doesn’t need to happen for price growth to cool off. According to Bloomberg News, Summers said in a speech …

Here’s why Larry Summers wants 10 million people to lose their job Read More »

Fed's Bullard says U.S. economy should continue to grow in coming quarters

Fed’s Bullard says U.S. economy should continue to grow in coming quarters

The U.S. economy should continue to grow in the coming several months, said St. Louis Fed President James Bullard on Monday, playing down fear of a severe recession that some economists and market pros view as inevitable in the face of the central bank’s war against too-hot inflation. “On GDP growth, I think that the …

Fed’s Bullard says U.S. economy should continue to grow in coming quarters Read More »

'The economy is going to collapse,' says Wall Street veteran Novogratz. 'We are going to go into a really fast recession.'

‘The economy is going to collapse,’ says Wall Street veteran Novogratz. ‘We are going to go into a really fast recession.’

Veteran investor and bitcoin bull Michael Novogratz doesn’t have a rosy outlook on the economy, which he described as headed for a substantial downturn, with the likelihood of a “fast recession” on the horizon. “The economy is going to collapse,” Novogratz told MarketWatch. “We are going to go into a really fast recession, and you can …

‘The economy is going to collapse,’ says Wall Street veteran Novogratz. ‘We are going to go into a really fast recession.’ Read More »

Housing market is cooling as an estimated 25% of home listings cut their asking prices: 'We’re shifting from a real buying frenzy to much more normal conditions'

Housing market is cooling as an estimated 25% of home listings cut their asking prices: ‘We’re shifting from a real buying frenzy to much more normal conditions’

Home sellers are slashing prices as the housing sector cools, according to a research from a real-estate data firm. More than 25% of homes on the market right now have cut their price, Altos Research found, which is in stark contrast to how prices have been climbing over the last two years.  “Rising rates and …

Housing market is cooling as an estimated 25% of home listings cut their asking prices: ‘We’re shifting from a real buying frenzy to much more normal conditions’ Read More »

‘All of this points to a broader weakness in the housing market’: Buyers are officially spooked by rising interest rates — just don’t expect a housing crash

‘All of this points to a broader weakness in the housing market’: Buyers are officially spooked by rising interest rates — just don’t expect a housing crash

The U.S. housing sector is losing steam amid rising interest rates, which are spooking some would-be home buyers, according to various reports. The housing sector’s been red-hot for months amid the two-plus years of the COVID-19 pandemic, with soaring prices leading some economists to express their concern about overvalued markets. But with rates rising, the …

‘All of this points to a broader weakness in the housing market’: Buyers are officially spooked by rising interest rates — just don’t expect a housing crash Read More »

Eurozone economic sentiment stabilizes in May

Eurozone economic sentiment stabilizes in May

Confidence among the eurozone’s consumers and businesses broadly stabilized in May. The European Commission said Monday that its economic sentiment indicator–an aggregate measure of business and consumer confidence–rose slightly to 105.0 in May from a revised figure of 104.9 in April. Economists polled by The Wall Street Journal had expected the index to come in …

Eurozone economic sentiment stabilizes in May Read More »

Gold closes out Thursday trade higher, aims for weekly gain

German producer prices soar 33% annually in April, highest increase on record

Germany’s producer prices rose strongly in April, driven by higher energy prices, posting the biggest increase ever recorded, the German statistics office Destatis said. Producer prices rose 33.5% on year, Destatis said. Energy prices rose 87.3% from a year earlier, it said. Strong gains in the price of natural gas, up 154.8% on year, were …

German producer prices soar 33% annually in April, highest increase on record Read More »

Dow books worst 5-day losing streak since 2020 as hot inflation reading weighs on Wall Street

Dow books worst 5-day losing streak since 2020 as hot inflation reading weighs on Wall Street

Stocks finished lower Wednesday, with the Dow booking its biggest 5-day drop in almost two years, following an eagerly awaited consumer price index reading that showed U.S. inflation slowed less than anticipated in April. How did stock indexes end? The Dow Jones Industrial Average DJIA fell 326.63 points, or 1%, ending at 31,834.11 after swinging …

Dow books worst 5-day losing streak since 2020 as hot inflation reading weighs on Wall Street Read More »