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 […]
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 […]
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 […]
WATCH: Kanye West walks off Tim Pool’s live show
Kanye West, or who is now called Ye, is going through a strange period in his life. But that’s between him and his family. Ye is now speaking with the alternative press, recently appearing in Lex Fridman’s podcast. He then appeared on Tim Pool’s Timcast. But the musician was not really interested in pursuing his […]