Reuters

WASHINGTON (Reuters) - U.S. consumer spending increased solidly in July, suggesting the economy remained on firmer ground early in the third quarter and arguing against a half-percentage-point interest rate cut from the Federal Reserve next month.

Solid US consumer spending pushes against hopes for hefty Fed rate cut

CBS Detroit

Inflation rose at a temperate pace in July, cementing thoughts of interest-rate cuts by the Federal Reserve, according to economic data released on Friday.Wall Street applauded the development, with stock futures adding to their gains after the Commerce Department reported prices increased 0.2% in July from June. Inflation held steady from a year ago at 2.5%. The gauge increased 1.7% on a three-month annualized basis, the slowest in 2024. Excluding volatile food and energy costs, so-called core inflation rose 0.2% in July from June. Over a year, core prices gained 2.6%. Economists tend to see core prices as offering a better...

Inflation remains cool, clearing way for Fed interest rate cut

ORLANDO, Florida (Reuters) -Jerome Powell's Jackson Hole speech has turned Sept. 6 and Sept. 18 into the two most important dates for U.S. monetary policy in years, as events on both days center on the Fed's new guiding light: the unemployment rate.

Unemployment rate is now Fed's undisputed lodestar: McGeever

TheStreet

Inflation pressures allow the Fed to focus on its full-employment mandate.

Inflation report cements interest rate cut bets

TheDailyBeast

Fears of an impending U.S. recession sent the Dow Jones Industrial Index tumbling more than 1,000 points in early trading Monday and triggered a panic sell-off in financial markets around the world.Wall Street went into meltdown with the S&P 500 down 4 percent and Nasdaq dropping 5.5 percent. The Dow Jones slipped 3 percent, or 1,197 points by 9.35 a.m. Eastern.Earlier, the FTSE 100 index in London fell by 2.1 percent, and it was followed by the Nikkei 225 in Japan plunging by 12.4 percent, or 4,451 points, the biggest one-day points drop in history.In Paris, the CAC-40 fell by...

Stock Markets Crash Worldwide Over Fears of U.S. Recession

Fort Lauderdale, FL

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

writer

Akeena

In a significant move for the legal community in Fort Lauderdale, Conrad & Scherer LLP is set to relocate its offices to a new location south of the New River. This comes after a company affiliate, managed by John J. Scherer, purchased a prime property for $10.2 million.

Law Firm Set to Relocate After Buying New $10 Million Office Building in Florida

24/7 Wall St.

The tech stock selloff in July surprised the market but not those investors who were paying attention. As far back as April, Goldman Sachs (NYSE:GS) warned of the coming decline. Its analysts said sector rotation could hurt the market and told investors to look outside of technology stocks for new investment ideas. It was a […]
The post Goldman Sachs Predicts a Double-Digit Rally for These 2 Growth Stocks appeared first on 24/7 Wall St..

Goldman Sachs Predicts a Double-Digit Rally for These 2 Growth Stocks

CBS News

Low-income shoppers are pulling back on spending, resulting in disappointing sales at Dollar General, which on Thursday lowered its sales and profit forecast for the year."We believe the softer sales trends are partially attributable to a core customer who feels financially constrained," Todd Vasos, Dollar General's chief executive officer stated. The company is continuing with a turnaround plan it embarked upon after he returned to Dollar General from retirement last year, the CEO added.While multiple economic trends are positive, "this good news has not yet reached the wallets of Dollar General customers who remain very constrained and cautious," said retail...

Dollar General struggles as customers cut back on discretionary spending

Florida State

Miami, FL

Florida’s commercial real estate market is sizzling, with major developments reshaping the landscape. Citadel, the powerhouse hedge fund, recently submitted plans for a luxurious 54-story headquarters in Miami. This move follows Citadel founder Ken Griffin’s relocation of the firm from Chicago to Miami two years ago. The proposed 1.7 million square foot skyscraper, anticipated to cost over $1 billion, is set to break ground next year and is part of a broader trend of businesses flocking to Florida despite rising sea levels threatening some areas.

Ken Griffin’s Citadel Submits Plans for 54-Story Headquarters in Miami that Will Cost Over $1 Billion

Ford Motor Company announced changes to its diversity, equity, and inclusion (DEI) policies, opting out of an annual survey conducted by an LGBTQ advocacy group and eliminating quotas for minority dealerships and suppliers. Ford CEO Jim Farley emphasized the company’s commitment to accommodating diverse perspectives among employees and customers, noting...

Ford Shifts DEI Strategies, Opting Out of Annual Survey Conducted by LGBTQ Advocacy Group

Salem, OH

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

Northern Kentucky Tribune

Every day, 8-year-old Emma sits in a small garden outside her grandmother’s home in Salem, Ohio, writing letters to her mom and sometimes singing songs her mother used to sing to her.

Thousands of parents die of overdoses; advocates say their kids need more help

Markets Insider

A recession is coming in the US by early next year, one John Hopkins economist predicts.

The economy is flashing a recession signal that's been seen only 4 times in the past century, veteran economist Steve Hanke says

Wyoming State

WyoFile

Wyoming’s U.S. Sen. John Barrasso and Rep. Harriet Hageman handily staved off Republican challengers in Tuesday’s primary election. The Associated Press called the race at 8 p.m.

Barrasso, Hageman handily defeat Republican challengers

Contrary to what many believe in, investment research firm BCA Research sees that the economy is on the cusp of a recession. "There's things that are breaking down quite rapidly now," Garry Evans, BCA Research's chief strategist of global asset allocation said on CNBC's "Squawk Box Asia." Contrary to what...

A recession is coming in the U.S., and 'a few rate cuts' won't prevent it, says strategist

The Gross Domestic Product grew at a 3% annual rate in the second quarter, faster than the 2.8% estimated in a preliminary report in July. New data showed consumers spent more and inflation was tamer than previously thought. Healthy economic growth coupled with cooling inflation signals that the economy can...

The Economy Was Healthier in the Second Quarter Than Previously Thought

A recent survey by Indeed found that more than one-third (35%) of millennial and Gen Z workers in the U.S. admitted to discussing politics at work, while 44% reported hearing others engage in such conversations. However, 54% of those surveyed expressed discomfort with political discussions occurring in meetings. A 2024...

54% of Millennial and Gen Z Workers in the U.S Are Expressing Discomfort with Political Discussions Occurring in Meetings

New York Post

Wall Street ended higher on Friday, and the Dow surged more than 200 points to another record close after fresh US economic data raised expectations that the Federal Reserve will cut interest rates modestly in September.

The Dow Jones Industrial Average hit an all time high of 41,585.21 before closing at 41,563.08, up 0.6%. It was the blue-chip index’s fourth record close this week and 26th this year.

The S&P 500 flirted with its all-time high, gaining 1%, to end at 5,648.40 points, while the Nasdaq climbed nearly 200 points, or 1.1%. It was the S&P 500’s fourth straight winning month.



US consumer spending increased solidly in July, suggesting...

Dow hits record close again as inflation data raises hopes of Fed rate cut

Denver, CO

David Heitz

Migrants enrolled in the Denver Asylum Seekers Program won’t get cash benefits after all. The council amended a contract with Haven for Hope during the Safety, Housing, Education and Homelessness Committee meeting Wednesday. Instead of Haven of Hope providing migrants with cash assistance on debit cards, it will instead provide “culturally appropriate” food, if the change is approved by the full council.

Denver may revoke cash assistance for migrants

Lawrence Township, NJ

Morristown Minute

A couple from Lawrence Township, New Jersey, admitted in federal court to conspiring to submit fraudulent asylum applications on behalf of non-citizen clients, according to U.S. Attorney Philip R. Sellinger.

NJ Couple Guilty of Submitting Fraudulent Asylum Applications

(Reuters) - U.S. consumers see inflation continuing to moderate in the next year, with a gauge of price growth expectations published on Friday at the lowest level in August since late 2020.

US consumers' near-term inflation expectation lowest since 2020, UMich data shows

NewsBreak

U.S. Economy Grows at 3% in Second Quarter, Driven by Consumer Spending and Investment

The U.S. economy expanded at an annual rate of 3% in the second quarter of 2024, bolstered by strong consumer spending and robust business investment, according...

U.S. Economy Grows at 3% in Second Quarter, Driven by Consumer Spending and Investment

Comments / 0