A decline in used car prices should help drive inflation lower, according to Fundstrat’s Tom Lee.The Manheim used car price index fell 3.2% in the first two weeks of June and is down 9.4% year over year.”Manheim price index shows completely opposite trend of CPI used cars [prices],” Lee said. Loading Something is loading. Thanks… Continue reading A collapse in used car prices could help drive inflation below the Fed’s 2% target rate
The housing market isn’t recovering and will send home sales to a new low as mortgage rates stay elevated, Pantheon Macroeconomics says
The housing market isn’t recovering yet, and home sales will notch a new low, Pantheon Macroeconomics said. That’s due to high mortgage rates, which have continued to shut out buyers and sellers from the market. Experts don’t expect the cost of borrowing to ease meaningfully anytime soon, postponing a recovery in housing. Loading Something is… Continue reading The housing market isn’t recovering and will send home sales to a new low as mortgage rates stay elevated, Pantheon Macroeconomics says
Taking dollarization to the next level – here’s a look at countries using the greenback as local currency
Argentina’s presidential election may determine if the country adopts the dollar as its own currency. But a top analyst said that is unlikely to happen due to nationalism around its currency. Several other countries, including Panama and Zimbabwe, have adopted the greenback. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading Taking dollarization to the next level – here’s a look at countries using the greenback as local currency
The world’s wealthiest people have got at least $150 billion richer thanks to the AI-fueled stock-market boom
AI-related stocks have seen a spectacular surge in 2023, following ChatGPT’s smashing debut. Some of the world’s wealthiest people have made a killing from the rally. Meta founder Mark Zuckerberg and Oracle boss Larry Ellison have seen their personal fortunes swell by over $40 billion each. Loading Something is loading. Thanks for signing up! Access… Continue reading The world’s wealthiest people have got at least $150 billion richer thanks to the AI-fueled stock-market boom
Investors should ride this market rally to new all-time highs early next year by making these 10 investments now, according to 6 market strategists
US stocks have been on fire in the last few months, and strategists think the rally can continue. If the S&P 500 can avoid a pullback, it could make a push toward its all-time high. Here are 10 ways to invest right now to take advantage of the market’s move higher. Investors who weren’t ready… Continue reading Investors should ride this market rally to new all-time highs early next year by making these 10 investments now, according to 6 market strategists
‘Big Short’ investor Steve Eisman looks beyond tech and is making a big bet on infrastructure
Steve Eisman is looking beyond the hype around tech, and is betting big on US infrastructure. Greenification will mean significant investments in the grid, he told Bloomberg’s “Odd Lots” podcast. He cited one utility stock that’s jumped 34% year to date, due to infrastructure needs. Loading Something is loading. Thanks for signing up! Access your… Continue reading ‘Big Short’ investor Steve Eisman looks beyond tech and is making a big bet on infrastructure
Mohamed El-Erian says Fed communication is seen as ‘confused and confusing’ after it held rates and signaled hikes at the same time
Mohamed El-Erian said the Federal Reserve’s latest policy communication was seen as “confused and confusing.” The Fed left interest rates unchanged at its Wednesday meeting, but signaled future increases. The decision was met with a range of reactions, both positive and negative. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading Mohamed El-Erian says Fed communication is seen as ‘confused and confusing’ after it held rates and signaled hikes at the same time
Hong Kong-listed stocks are about to be priced in yuan, giving China’s currency another boost
Hong Kong-listed stocks will be priced in yuan on Monday, giving China’s currency another boost. Two dozen stocks, including Alibaba and Tencent, will be traded in the yuan and the Hong Kong dollar. It comes as Beijing tries to internationalize the yuan and challenge the US dollar in global finance. Loading Something is loading. Thanks… Continue reading Hong Kong-listed stocks are about to be priced in yuan, giving China’s currency another boost
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