Inflation Weighed on Consumer Spending Growth in February

Inflation Weighed on Consumer Spending Growth in February

Consumer spending growth, a key engine of the economy, slowed sharply in February, as the Omicron surge of Covid-19 eased and accelerated inflation amid Russia’s invasion of Ukraine. US households boosted their sending at a seasonally adjusted 0.2% pace in February from the month before, down from a revised 2.7% rate in January, when spending … Read more

Job Openings Ease Slightly From Record Highs

Job Openings Ease Slightly From Record Highs

Available jobs fell slightly for the second consecutive month in February after touching a record high late last year, a sign employers are able to fill open positions as the pandemic eases. Job openings are easing as the number of new coronavirus cases continues to fall, potentially freeing up more people to rejoin the workforce. … Read more

This fund bailed on techs at the end of the year. Here’s the sector it’s fading now.

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What better time to invest in financials than at a time with rampant inflation and a Federal Reserve promising 11 rate hikes over the next two years? That’s not the view at Deuterium Capital, which is expecting a sharp slowdown in the economy. The Deuterium Global Dynamic Allocation Fund is mostly driven by a macroeconomic … Read more

Fed official doesn’t think housing market is headed for a crash: ‘I am trying to buy a house here in Washington and the market is crazy’

Fed official doesn't think housing market is headed for a crash: 'I am trying to buy a house here in Washington and the market is crazy'

Federal Reserve Governor Christopher Waller has no doubt about how competitive today’s housing market is. “Trust me, I know it is red hot because I am trying to buy a house here in Washington and the market is crazy,” Waller said in a speech at a housing conference. But even as home and rental prices … Read more

Jamie Dimon’s ‘Marshall Plan’ Puts New Package on Familiar Energy Proposals

Jamie Dimon's 'Marshall Plan' Puts New Package on Familiar Energy Proposals

Text size JPMorgan Chase CEO Jamie Dimon. Michel Euler/Pool/AFP/Getty Images JPMorgan Chase CEO Jamie Dimon told President Biden at a Monday meeting that the United States needs a “Marshall Plan” for energy. The two spoke at a meeting attended by executives from large US energy companies like Exxon Mobil (ticker: XOM) and financial firms. The … Read more

Koch Industries breaks silence on Russia operations — and says it will continue to operate its two glass factories there

Koch Industries breaks silence on Russia operations — and says it will continue to operate its two glass factories there

Koch Industries Chief Operating Officer Dave Roberston. Koch Industries Koch Industries, the Wichita, Kan., company run by billionaire Republican megadonor Charles Koch, broke its silence on plans for its Russia operations on Wednesday — and said it would continue to operate its two glass-manufacturing facilities there. The company, which is bucking the trend of US … Read more

Fed Raises Interest Rates for First Time Since 2018

Fed Raises Interest Rates for First Time Since 2018

The Federal Reserve said it would lift interest rates and penciled in a series of further increases this year aimed at stopping the economy from overheating and reducing inflation that is running at its highest levels in four decades. Fed officials said Wednesday they would raise their benchmark federal-funds rate by a quarter percentage point … Read more

Chinese Stocks Plunge After SEC Stokes Delisting Concerns

Chinese Stocks Plunge After SEC Stokes Delisting Concerns

A further step by the Securities and Exchange Commission toward forcing companies from China off American exchanges helped trigger the worst decline in US-listed Chinese stocks since the global financial crisis, and sparked a second selloff in Hong Kong. The steep drops add to a punishing period for Chinese shares—some of which have now lost … Read more

Amazon Flagged to Justice Department for Possible Criminal Obstruction of Congress

Amazon Flagged to Justice Department for Possible Criminal Obstruction of Congress

A US congressional committee is asking the Justice Department to investigate Amazon.com Inc. AMZN 1.47% and some of its executives for what lawmakers say is potentially criminal obstruction of Congress, according to people familiar with the matter and a letter containing the request. The letter, dated March 9 and viewed by The Wall Street Journal, … Read more