Costco has charged $1.50 for a hot dog and soda for 37 years, and inflation won’t change that. Costco’s pricing of its hot dog combo is a testament to its business model, experts say. Charlie Munger admires the retailer for constantly driving down prices without sacrificing quality. Loading Something is loading. Costco has stubbornly charged… Continue reading Costco refuses to raise the price of its $1.50 hot dog combo despite painful inflation. 4 experts explain the strategy, and why Charlie Munger loves it.
Dow plunges 1,000 points as Fed Chair Powell warns rate hikes to fight inflation will cause hardship
US stocks dropped Friday as major indexes closed the week negative, with the Dow tumbling 1,000 points. At Jackson Hole, Wyoming, Fed Chair Jerome Powell reiterated the Fed’s committement to taming inflation. He also warned that rate increases will “bring some pain to households and businesses,” adding that such hardship is the cost of reducing… Continue reading Dow plunges 1,000 points as Fed Chair Powell warns rate hikes to fight inflation will cause hardship
The price of electricity just hit an all-time record in France as Europe faces an emergency over soaring energy costs
European electricity prices soared to fresh record highs on Friday amid the region’s energy crisis. French year-ahead prices surged 25% to 1,130 euros per megawatt-hour, and German prices jumped 33% to 995 euros per megawatt hour. EU leaders may hold an emergency meeting to discuss the energy crisis. Loading Something is loading. Electricity prices hit… Continue reading The price of electricity just hit an all-time record in France as Europe faces an emergency over soaring energy costs
Investors see a lower probability of a 75-basis-point rate hike in September after Fed Chair’s Powell speech at Jackson Hole
Investors on Friday were pricing in a more dovish outlook for the Fed’s September rate hike. The CME FedWatch tool showed a 45.5% probability of a 50-basis-point hike after Powell’s Jackson Hole speech, up from 36% a day earlier. At the same time, the probability of a rate increase of 75 basis points slipped to… Continue reading Investors see a lower probability of a 75-basis-point rate hike in September after Fed Chair’s Powell speech at Jackson Hole
Russia’s gas storage is 90% full for the winter – while Europe is still scrambling to secure its supply before the cold weather bites
Russian gas storage is 91.4% full, according to state-energy giant Gazprom. Russian domestic supply is a stark contrast to the shortfall of energy supplies in Europe. The Netherlands is seeking exemption from EU sanctions as it struggles to replace Russian gas. Loading Something is loading. Russia’s Gazprom said domestic gas storage is nearly full, a… Continue reading Russia’s gas storage is 90% full for the winter – while Europe is still scrambling to secure its supply before the cold weather bites
US stocks rise as investors await policy clues from Fed Chair Powell at Jackson Hole
US stocks closed higher Thursday, leaving the S&P 500 to land a second straight win. Investors took on some risk before Federal Reserve Chairman Jerome Powell speaks on Friday. The market is still facing the prospect of a US recession, said Truist Advisory’s Lerner. Loading Something is loading. US stocks rose Thursday as investors embraced… Continue reading US stocks rise as investors await policy clues from Fed Chair Powell at Jackson Hole
Surging mortgage rates spur downgrade of homebuilder stocks by Bank of America as the US housing market slows
Bank of America on Thursday downgraded homebuilders Lennar, Toll Brothers and KB Home. New home demand has dropped over the last three months after two years of unprecedented growth. Affordability is down, with the average monthly mortgage payment up 50% in some markets. Loading Something is loading. Jumping mortgage rates are contributing to lower demand… Continue reading Surging mortgage rates spur downgrade of homebuilder stocks by Bank of America as the US housing market slows
Japan hints at possible reversal of post-Fukushima nuclear policy as energy crisis spurs scramble for alternative supplies
Japan will restart more of its nuclear plants and look into developing next-generation reactors. After the Fukushima disaster, Japan said it would not build any new nuclear reactors. Prime Minister Fumio Kishida also said officials would look into lengthening the lifespan of its existing nuclear reactors. Loading Something is loading. Japan will restart more of… Continue reading Japan hints at possible reversal of post-Fukushima nuclear policy as energy crisis spurs scramble for alternative supplies
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