Market Rally Stirs Concerns It Could Feed Inflation
MarketsFinanceEconomists disagree about importance of market-driven financial conditions relative to Fed’s interest rates Source link
Baidu Surges After Confirming Plan to Launch AI Chatbot in March
By Yifan Wang and Bingyan Wang Shares of Baidu Inc. surged in Hong Kong on Tuesday as investors welcomed the Chinese internet giant’s plan to launch an artificial-intelligence chatbot next month amid an intensifying AI race in the technology industry. The stock gained as much as 16% to 162.90 Hong Kong dollars (US$20.76), putting it […]
Households Burn Through What’s Left of Their Pandemic Savings
The cushion of savings many built up during the pandemic is thinning out. In some households, it is already gone.Americans have spent down about 35% of the extra savings they accumulated during the pandemic as of mid-January, according to an estimate from Goldman Sachs. By the end of the year, the company forecasts that they […]
Banks Borrow Unsecured Cash at Record Clip While Deposits Flee
MarketsDeposits at U.S. lenders fell in two consecutive quarters last year for the first time in over a decade Source link
Silver Prices Are Outpacing Gold. That’s a Good Sign for the Global Economy.
Silver has sharply outpaced gold’s gains in the past three months, and its classification as both an industrial and precious metal may lead it on a path to even higher prices. From Oct. 31 to Jan. 31, Comex silver futures climbed nearly 25%, outpacing gold’s almost 19% climb, a “statistically unusual amount that shows the […]
Short on Cash, More Americans Tap 401(k) Savings for Emergencies: WSJ
Plan advisers say a rise in hardship withdrawals from retirement accounts is driven by financial strain and looser regulations. Source link
The Fed Fights the Fed: WSJ
Policy makers want to convince investors that smaller rate increases won’t be a prelude to rate cuts. Federal Reserve Chair Jerome Powell said Wednesday the central bank will raise interest rates a quarter-percentage-point. Powell said more increases will likely be needed to continue lowering inflation. Source link
Novartis 4Q Sales $12.69B – MarketWatch
By Cecilia Butini Novartis AG on Wednesday posted lower sales and profit as it took a hit from generic medicines competition and higher restructuring costs, but increased its dividend for 2022. The Swiss pharma major posted net profit of $1.47 billion, down from $16.31 billion the year prior, when it benefited from the sale of […]
Black Swan Manager Preps for Financial ‘Mega-Tinderbox-Timebomb’
MarketsHeard on the StreetAfter an epic 15-year run, hedge fund Universa’s Mark Spitznagel says the financial system is poised for a crisis—eventually Source link
The U.S. Consumer Is Starting to Freak Out
Listen to article(2 minutes)The engine of the U.S. economy—consumer spending—is starting to sputter.Retail purchases have fallen in three of the past four months. Spending on services, including rent, haircuts and the bulk of bills, was flat in December, after adjusting for inflation, the worst monthly reading in nearly a year. Sales of existing homes in […]