By Wolf Richter for WOLF STREET. Nvidia, the poster boy of the stock-market mania around Ai and semiconductors, plunged 9.5% in regular trading. In afterhours trading, it dropped another 2.6% to $105.40 a share, for a total drop […]
Majority of construction spending goes into nonresidential, dominated now by a spending spree on factories. By Wolf Richter for WOLF STREET. Total construction spending ticked up to a record of $199 billion in July, up by 7.5% from […]
In a recent interview with CNN, Kamala Harris said that Bidenomics is working and that she is “proud of bringing inflation down.” However, the Bureau of Labor Statistics published the latest CPI at 2.9%, despite annual inflation […]
Wind and solar advocates claim renewables are cheaper, so why are electricity prices skyrocketing in states that are moving toward them? I have had many posts on the soaring consumer electricity costs suffered by the […]
The banking regulator is reportedly interested in joining Russia’s financial messaging system in the push towards de-dollarization The Reserve Bank of India (RBI) is considering the use of Russia’s alternative to the Western SWIFT […]
ContributionsFinance and Insurance Pierre Aury assesses the state of the world economy with some startling stats. We saw last month that it was unlikely that the historically high level of unrealised losses sitting in the […]
Weekly Daily Standup Top Stories Is China’s Demand for Oil Nearing Its Peak? August 25, 2024 Stu Turley China’s oil imports in July were down 12% from June and 3% from July 2023, raising concerns about […]
London’s old-school oil stocks are no longer moving in tandem, as BP Plc underperforms Shell Plc due to concerns over the former’s green-energy transition and the outlook for earnings and shareholder payouts. August is set to mark the fifth-straight […]
Inflation-adjusted consumer spending jumped. They splurged on durable goods. And still saved some. In response, the Atlanta Fed’s GDPNow jumped. By Wolf Richter for WOLF STREET. Consumer spending, adjusted for inflation, rose by 0.39% in July from June. Spending growth […]
Month-to-month, core services inflation jumped while durable goods deflation deepened, and so core PCE price index hits Fed’s target. By Wolf Richter for WOLF STREET. The “Core” PCE price index, the Fed’s primary yardstick for its 2% inflation target, […]
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