US stocks plunged into bear market territory Monday morning as Wall Street investors grew increasingly nervous about the prospect of even more harsh medicine from the Fed to take the sting out of inflation. The Dow (INDU) sank 750 points, or 2.4%, and the Nasdaq fell 3.7%. Friday’s miserable Consumer Price Index report showed US […]
Category: Market
Stocks post worst month in nearly 14 years as recession fears grow stronger
US stocks plunged on Friday, with the Nasdaq marking its worst month since October 2008 and the S&P notching its worst month since March 2020 at the onset of the Covid pandemic. The tech-heavy Nasdaq fell 4.2% on Friday, dragged down by Amazon (AMZN), which dropped nearly 15% after it missed earnings expectations. The S&P […]
These 8 food items are the most expensive right now
Earlier this month, the rate of inflation — the rate of increase in prices over a given period of time — here in the United States reached a 41-year historic high as consumer goods continue to be impacted by supply chain issues exacerbated by the COVID-19 pandemic, and more recently, by the war in Ukraine. […]
Food shortage risk is going to get “real” according to Biden
President Biden warned Thursday that there could be global food shortages resulting from the Russian invasion of Ukraine and announced steps to prevent a potential crisis. “We did talk about food shortages. And it’s going to be real. The price of these sanctions is not just imposed upon Russia, it’s imposed upon an awful lot […]
U.S. farmers worried about planting more because of Russia’s Ukraine war
Higher wheat prices should make farmers like Nicole Berg, the owner of a 21,000 acre farm in Washington state, happy. But the costs of fuel and fertilizer are eating into her profits. “The issue we’re having right now is that input costs are going up even more than the price of wheat,” Berg told CNBC […]
U.S. wholesale inflation surges again — prices are up 10% in the past year
Wholesale prices rose a sharp 0.8% in February and signaled that the hottest U.S. inflation in 40 years is unlikely to cool off in the spring. Wall Street economists had forecast a 0.9% increase. The increase in wholesale prices over the past year stayed at 10% for the second month in a row, the government […]
US barreling toward recession, experts say, as inflation hits 40-year-high
Inflation hit a 40-year high in February, and the worst is yet to come as the U.S. economy barrels toward a recession, experts say. The consumer price index (CPI) climbed 7.9% on an annual basis, according to data released Thursday by the Bureau of Labor Statistics. Month over month, inflation rose 0.8%. Gas jumped 6.6% […]
Decaying dead rodents in warehouse forces Family Dollar to close 400 stores & recall products
A rodent infestation at a Family Dollar warehouse has prompted the discount store chain to recall a wide range of products sold at hundreds of stores throughout the southern United States. Health concerns about the rat infestation at an Arkansas distribution center have also led to the temporary closure of more than 400 stores in […]
Economy Only Adds 75k Jobs, 100K Less Than Expected
The U.S economy added 75,000 jobs in May, the Labor Department reported Friday, falling short of expectations by nearly 100,000 jobs. Economists expected the U.S. to add roughly 185,000 jobs in May after a massive gain of more than 200,000 in April. But employment growth fell well short of that mark last month, though the […]
Dow Plummets Over 600 Points Due To Chinese Tariffs
Wall Street saw a massive sell-off on Monday as investors responded to an escalating trade battle between the U.S. and China, after Beijing announced it would be slapping tit-for-tat tariffs on $60 billion of U.S. goods. Concluding a session of steep losses, the Dow Jones Industrial Average ended down by 618 points, or 2.38 percent, […]
Trade War With China To Escalate Soon
China’s Commerce Ministry reportedly said Wednesday that it will respond “in kind” if President TrumpDonald John TrumpDOJ threatens executive privilege over Mueller report if Dems carry out contempt vote Trump touts ‘BIG FIREWORKS’ returning to Mt. Rushmore for July 4 Trump taps ex-State spokeswoman Heather Nauert to help oversee White House fellowships MORE moves to increase […]
263,000 Jobs Added, Unemployment Drops To 3.6%
Employers added 263,000 jobs last month, underscoring the economy’s resilience after some analysts had feared earlier in the year that a slowdown was coming. The latest data suggest that the economy is showing robust growth, and provides a talking point for Republicans and President Trump as the 2020 presidential campaign nears. Payrolls have now risen […]