Since the middle of 2020, the annual inflation rate has been rising. While the consumer price index (CPI) has likely peaked at 9.1 percent, it remains elevated. The Federal Reserve Bank of Cleveland forecasts that the November CPI will come in at 7.5 percent, down from 7.7 percent in October. So, does this mean “transitory […]
Archives for November 2022
Morgan Stanley’s Mike Wilson: ‘The bear market is not over’
Do you think the bottom was reached? Prepare for more losses, warns Mike Wilson, Morgan Stanley’s chief U.S. equity strategist and chief investment officer. Speaking in an interview with CNBC on Tuesday, Wilson warned that Corporate America is about to unleash downward earnings revisions in the coming months that will hammer stocks. The S&P 500 […]
Gallup: Just 28% of Americans are still worried about COVID-19
Sorry, hypochondriacs, Americans don’t care about the coronavirus pandemic anymore. According to a new Gallup poll, just 28 percent of Americans are still worried about COVID-19. This is the lowest measurement since the summer of 2021. Moreover, 78 percent think the pandemic is “over,” a new high. This has most survey respondents agreeing that the […]
US consumer confidence weakens in November, inflation expectations jump
After showing some enthusiasm in the late summer and early fall, consumers are losing patience in this economy again. In November, the Conference Board’s Consumer Confidence Index (CCI) tumbled to 100.2, down from 102.2 in October. Consumers’ inflation expectations also climbed this month to the highest since July, which researchers attribute to higher food and […]
BlackRock shuts down ESG fund after three years amid lack of interest, poor performance
Well, that did not last very long. A new report suggests that BlackRock is shutting down an ESG fund because of a lack of interest and poor performance. The BSF Style Advantage Screened fund, which was launched in 2019 is set to close on May 10. Since its inception, it has lost an annualized rate […]