ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailRebecca Patterson, Fmr. Bridgewater chief strategist, joins ‘Fast Money’ to explain why a manufacturing renaissance might be difficult to achieve in the current economy. Source link
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After the latest blast of consumer inflation data, traders are facing a conundrum around how they should interpret the monthly numbers. September’s consumer price index report topped the Street’s expectations, rising 0.1% from the month prior and increasing at a pace of 2.4% over the past 12 months. Still, the annual inflation rate was the lowest since February 2021. Meanwhile, September’s producer price index report was flat for the month, coming in below the 0.1% advance anticipated by economists polled by Dow Jones. Considering that back in June 2022, the CPI grew by 9.1%, the recent cooling is welcome news.…
A squeeze play sent one American League Division Series to Game 5, as Cleveland’s David Fry hit a pinch hit homer and then bunted home the winning run in the Guardians’ come-from-behind road win over the Detroit Tigers. Meanwhile, benches cleared in an otherwise quiet evening in Kansas City, Mo., where the New York Yankees defeated the Royals to advance to the ALCS. Let’s go around the horn.The Yankees jumped ahead two batters into the game, then tacked on single runs in the fifth and sixth. That’s when the brouhaha began. The Royals’ Maikel Garcia took offense to Anthony Volpe’s…
A handful of stocks stood out as the biggest winners on Wall Street this week, and analysts think they have more room to run. The major averages posted a fifth-straight winning week on Friday, with the S & P 500 notching a fresh record. Results from banking behemoths including JPMorgan Chase and Wells Fargo began the third-quarter earnings season in earnest and helped keep investor sentiment high. Wall Street also received some comforting inflation data on Friday. The producer price index, a reading of wholesale inflation, was flat in September. Economists polled by Dow Jones predicted a 0.1% increase on…
Hispanolistic | E+ | Getty ImagesHow the Social Security tax calculation worksThe Social Security payroll tax rate is 12.4%, with workers paying 6.2% through paycheck deductions. Employers pay the other 6.2%.For 2025, workers will pay 6.2% on earnings up to $176,100, for a maximum of $10,918.20, according to the Social Security Administration. Once workers reach that max, they don’t pay into the program for the rest of the year.The 2025 adjustment has a bigger impact on self-employed workers because “they’re paying both sides of it,” meaning they owe the full 12.4%, according to Lovison, who is also a certified public…
DURHAM, N.H. — The Downeaster train whooshes northward on a fall afternoon, past lily-covered ponds, over rusted bridges and through the reds and yellows of the New England woods. Halfway between Boston and Portland, Maine, the train horn blasts, and the conductor hurries down the aisle, keys jangling at his hip. “Durham stop,” he calls out. “Durham.” The brakes squeal, and a college town comes into view.The railway cuts a path through the University of New Hampshire’s athletic campus. To the right, there’s an arena they call “The Whitt,” the crown jewel for a hockey school. Look out the window…
Boeing 737 MAX airliners are pictured at the company’s factory on Thursday, Sept. 12, 2024, in Renton, Wash.Stephen Brashear | APBoeing will cut 10% of its workforce, or about 17,000 people, as the company’s losses mount and a machinist strike that has idled its aircraft factories enters its fifth week.Boeing expects to report a loss of an $9.97 a share in the third quarter, the company said in a surprise release on Friday. It took charges in both its commercial airplane unit and defense business.The manufacturer also won’t deliver its still-uncertified 777X wide-body plane until 2026, putting it six years…
The U.S. 10-year Treasury yield dipped below 4.10% on Friday as investors assessed the latest inflation data that came in cooler than expected.The yield on the 10-year Treasury slipped less than a basis point to 4.088%, after having ended last week at 3.97%.The yield on the 2-year Treasury was down about 5 basis points to 3.949%.Yields and prices move in opposite directions. One basis point equals 0.01%.The producer price index — a measure of wholesale prices — came in unchanged in September, below consensus expectations of a 0.1% increase last month, according to Dow Jones.The yield on the 10-year Treasury…
Michael Shvartsman walks following a hearing at the Manhattan Federal Court, in New York City, U.S. July 20, 2023. Amr Alfiky | ReutersProsecutors are asking a New York federal court judge to sentence two brothers to years in prison for their admitted insider trading in a blank-check company’s securities before it announced a planned merger with Trump Media.Prosecutors want Florida venture capitalist Michael Shvartsman, who made more than $18 million in illicit trading profits, to be sentenced next Thursday to between 46 months and 57 months in prison, a court filing shows.And they want his brother, Gerald Shvartsman, to be sentenced…
NEW YORK — The New York Liberty had Game 1 in the palm of their hands.Up 15 points with 5:20 to play on their home court, facing a Minnesota Lynx team that had just gone to five games against the Connecticut Sun and didn’t even have a chance to practice before the WNBA Finals, the Liberty simply had to put the finishing touches on a comfortable series-opening victory.Instead, the Lynx clawed back and stole an absolute heartbreaker from New York. Courtney Williams gave Minnesota its first lead of the game on a four-point play with 5.5 seconds to play, oddly…
