September is usually a bad month for investors, with the S&P 500 falling on average by about 1%, according to Howard Silverblatt, a senior analyst with S&P Dow Jones Indices. But this September, it fell by more than 9%. That makes this the worst September since 2002, when it fell by 11%. It’s another bleak […]
Tag: inflation
Will Social Security Benefits Keep Up With Inflation?
The record 2023 Social Security benefits increase could be lower than previously expected as inflation eases, according to a new forecast from The Senior Citizens League. The Consumer Price Index (CPI), a measure of inflation, rose 8.3% annually in August, a slight improvement from 8.5% in July, the Bureau of Labor Statistics (BLS) said. This […]
European nations shifting right as economies fail
A handful of European nations are shifting to the political right as economic woes throttle the continent. “All eyes are on Rome right now,” an EU official recently told Reuters. Italy is just hours from what is expected to be a historic election on Sunday as voters head to the polls to elect a new […]
Recession fears mount as stock market tanks
A wave of heavy selling driven by investors’ concerns that the global economy could fall into recession rocked major stock indexes around the world Friday. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq each lost more than 1.5% on Friday, with the Dow closing at its lowest level since late 2020. The […]
Beer Prices are going up; Why? Carbon Dioxide
Carbon dioxide has no taste, no odor, and no color — but it’s a vital ingredient in the beer business, from putting frothy bubbles in brews to blocking oxidization that makes beer taste stale. But brewers are now worried that a carbon dioxide shortage could force production cuts and price hikes. It’s the latest threat […]
Kerry admits IRA has nothing to do with inflation
U.S. special presidential climate envoy John Kerry praised the Inflation Reduction Act, calling it an “amazing” bill due to its climate-related impact while acknowledging that it does not seem to do much for inflation. Speaking at the International Energy Agency’s Global Clean Energy Action Forum, Kerry called the bill “a completely misnamed piece of legislation,” […]
Fed Ex not the only corp to sound a warning bell
Corporate America is starting to brace for a recession. Economic bellwether FedEx (FDX) stunned Wall Street last week with a massive earnings warning and tepid outlook for the global economy. FedEx’s bad news overshadowed a more promising development on Thursday, the agreement between railroad operators and unions to avoid what could have been a crippling […]
Young Brits have 1 thing on their minds and it’s not the royal family
Queen Elizabeth II’s death and funeral have dominated news headlines for nearly two weeks, thanks in large part to Britain’s lengthy national mourning period. Some of the people lining up to visit the queen’s casket and staking out spots along the funeral route described the moment as offering a much-needed dose of community and positivity […]
Biden says don’t worry inflation is up just an inch
President Biden attempted to downplay the U.S. inflation crisis during a “60 Minutes” interview, claiming that the month-to-month rate has “hardly” risen – which prompted his CBS interviewer to dispute his response. CBS correspondent Scott Pelley asked: “Mr. President, as you know, last Tuesday, the annual inflation rate came in at 8.3%. The stock market […]
Is your electric bill high? Your heating bill might be next
If air-conditioning your home felt expensive this summer, get ready, because turning up the heat may cost even more this winter. The rising utility bills are being driven by the surge in the price of natural gas, which generates about 40% of the United States’ electricity. The U.S. Energy Information Administration expects this surge to […]
What happened to 2 dollar bills?
Inflation has made it hard to buy much with a buck these days. $1 pizza has disappeared. Dollar stores aren’t dollar stores anymore. So wouldn’t it make more sense to start paying with $2 bills instead? It’s considered a curiosity to some and scorned by others in the United States. The myths around the $2 […]
FedEx warns of a global recession; stock sinks
FedEx warned that a global recession could be coming, as demand for packages around the world tumbles. Shares of FedEx (FDX) plunged 21% Friday — the biggest one-day drop in its history — after the company warned late Thursday that a slowing economy will cause it to fall $500 million short of its revenue target. […]