By: Andrew Moran As part of efforts to revive price stability in global energy markets, the Treasury Department confirmed that it would permit Chevron to resume pumping crude from Venezuelan oil fields. Despite human rights violations by an authoritarian government in the South American nation, the White House’s policy appears to be to bring down the cost […]
Money
U.S. employers cut 77k jobs, the highest since January 2021
The November jobs report will be published on Friday. It should be a fascinating one and, in theory, should show considerable weakness in the U.S. labor market. But the monthly snapshot of the jobs situation keeps surprising everyone each month. If the latest job cuts data is anything to go by, then the U.S. economy […]
CNBC: Transitory inflation is back on the table
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 […]