• U.S. consumer spending, inflation data point to strong economy

    25 days ago - By Reuters

    U.S. consumer spending increased solidly in July, suggesting strong economic growth early in the third quarter, while a measure of underlying inflation hit the Federal Reserve's 2 percent target for the third time this year.
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  • Averaged 30-year mortgage rate inches up to 4.52 percent

    25 days ago - By Chron

    WASHINGTON - Long-term U.S. mortgage rates ticked up this week as borrowing costs are meaningfully higher than a year ago.
    Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year, fixed-rate mortgages rose slightly to 4.52 percent from 4.51 percent last week. The rate averaged 3.82 percent a year ago. Average rates began to climb after the tax cuts signed into law last year by President Donald Trump increased the federal budget deficit, as home loans generally move in sync with interest on 10-year Treasury notes.
    The average rate on 15-year, fixed-rate loans fell to 3.97...
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  • Atlanta Fed lowers U.S. third-quarter GDP view to 4.1 percent

    25 days ago - By Reuters

    The U.S. economy is expanding at a 4.1 percent annualized rate in the third quarter, the Atlanta Federal Reserve's GDPNow forecast model showed on Thursday, following the release of the advanced economic indicators from the U.S. Census earlier this week.
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  • Canada's economy grows at its fastest pace in a year as exports surge

    Canada's economy grows at its fastest pace in a year as exports surge

    25 days ago - By Business Insider

    Canada's GDP grew at the fastest pace in a year between April and June.
    An uptick in exports and consumer spending helped boost growth.
    The data comes ahead of Bank of Canada meeting next week.
    Canada's economic growth accelerated in the second quarter at the fastest pace in a year, driven by a sharp increase in exports and consumer spending.
    Gross domestic product expanded at an annualized pace of 2.9% from April to June, Statistics Canada said Thursday, up from 1.4% growth in the first quarter. The figure missed economist expectations for 3% growth, but beat Bank of Canada estimates of...
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  • There are no winners right now in a $2 trillion market that's losing money for everyone

    There are no winners right now in a $2 trillion market that's losing money for everyone

    25 days ago - By Business Insider

    In a wildly popular $2 trillion market, neither long nor short investors are finding much success at all, with both strategies down roughly 6% year-to-date.
    This can be attributed to the sudden volatility shock that rocked markets earlier this year, in tandem with the listless, low-volatility environment that's persisted ever since.
    Conventional wisdom would suggest that if one side of a trade is getting crushed, the other side should be making money hand over fist.
    But that hasn't proven to be true this year in the $2 trillion volatility market , as investors find themselves in a...
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  • Consumer spending rises strongly; inflation firming

    25 days ago - By Reuters

    U.S. consumer spending increased solidly in July, pointing to strong economic growth early in the third quarter, while a measure of underlying inflation hit the Federal Reserve's 2 percent target for the third time this year.
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  • US consumer spending up a solid 0.4 percent in July

    25 days ago - By Chron

    WASHINGTON - U.S. consumer spending rose a solid 0.4 percent in July, the sixth straight month of healthy gains. At the same time, a key gauge of inflation posted its sharpest annual gain in six years, likely keeping the Federal Reserve on track to keep raising interest rates gradually.
    The July spending gain, fueled by strong job growth and tax cuts, followed a similar 0.4 percent rise in June, the government said Thursday. Inflation, as measured by a barometer closely watched by the Fed, rose 2.3 percent for the 12 months that ended in July, the fastest year-over-year increase since 2012.
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  • Personal Income increased 0.3% in July, Spending increased 0.4%

    Personal Income increased 0.3% in July, Spending increased 0.4%

    25 days ago - By Calculated Risk

    The BEA released the Personal Income and Outlays report for July:
    Personal income increased $54.8 billion in July according to estimates released today by the Bureau of Economic Analysis. Disposable personal income increased $52.5 billion and personal consumption expenditures increased $49.3 billion .
    Real DPI increased 0.2 percent in July and Real PCE increased 0.2 percent. The PCE price index increased 0.1 percent. Excluding food and energy, the PCE price index increased 0.2 percent. The July PCE price index increased 2.3 percent year-over-year and the July PCE price index, excluding...
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  • 10 things you need to know before the opening bell

    10 things you need to know before the opening bell

    25 days ago - By Business Insider

    Here is what you need to know.
    US economic growth gets revised higher. The US economy grew at an annual rate of 4.2% in the second quarter, according to an advanced estimate released Wednesday by the Commerce Department.
    Air freight volumes point to a continued slowdown in global trade. Freight tonne kilometers - or the weight of volume transported multiplied by distance traveled - grew a seasonally adjusted 2.1% year-over-year in July, its smallest increase since May 2016, according to data released Thursday by the International Air Transport Association.
    One of Wall Street's most dreaded...
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  • US consumer spending up 0.4 percent while annual inflation rises 2.3 percent, highest in 6 years

    25 days ago - By Chron

    WASHINGTON - US consumer spending up 0.4 percent while annual inflation rises 2.3 percent, highest in 6 years.
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