BANK OF CANADA’S POLOZ: BETTER ECONOMIC OUTLOOK IS ACHIEVABLE
By Gloria Galloway OTTAWA (MaceNews) – The Bank of Canada is laying out two economic prospects for the country as it recovers from devastating effects of the global pandemic – one positive and one negative – but the bank’s governor says he is optimistic that the better-case scenario is achievable. In its Monetary Policy Report […]
DATA FLASH: US RETAIL SALES PLUNGE 8.7% AS CONSUMERS STAYED HOME
–Food Store Sales Jump 25.6%, Most Other Categories Fall Sharply–Empire State Index Drops to -78.2 in April from -21.5 in March–Industrial Production Falls 5.4%, Manufacturing Down 6.3%, Lows Since 1946 By Kevin Kastner WASHINGTON (MaceNews) – As U.S. consumers heeded government warnings to remain home to mitigate the spread of COVID-19, and most business were […]
WHITE HOUSE WATCH: RIDING THE WAVE OF OPTIMISM; WILL IT LAST?
By Denny Gulino WASHINGTON (MaceNews) – Whew, that was brutal but it’s finally over. After all, Amazon hit an all-time high, and Apple, Google, Tesla finished strong. The markets look into the future and the markets are telling us it can’t be all that bad, right? Or should we be bracing for the Second Wave? […]
BofA GLOBAL RESEARCH FUND MANAGER SURVEY: RECESSION FEARS DOMINATE
–In April, Global Investors Extremely Pessimistic Re World Growth By Vicki Schmelzer NEW YORK (MaceNews) – Recession fears dominated in April, with global investors extremely pessimistic about world growth prospects in the wake of the spread of COVID-19, according to the findings of BofA Global Research’s monthly fund manager survey, released Tuesday. A record net […]
DATA FLASH: US MARCH IMPORT PRICES FALL 2.3% ON FUEL PLUNGE
–Excluding Fuels, Import Prices Were Flat on Mixed Components By Kevin Kastner WASHINGTON (MaceNews) – U.S. import prices fell by 2.3% in March, primarily on a 26.8% plunge in fuel prices. Outside of the fuel price drop, import prices were flat, with mixed components. Analysts had expected overall import prices to fall by 3.1% after […]
IMF WEO: CHINA TO ESCAPE PANDEMIC ECONOMIC DECLINES
WASHINGTON (MaceNews) – The following is IMF chief economist Gita Gopinath’s summary of the World Economic Outlook update published Tuesday outlining sharp declines in economic activity throughout much of the world with the notable exception of China, where the pandemic originated: The world has changed dramatically in the three months since our last update of […]
DATA FLASH: US MARCH CPI FALLS 0.4% ON ENERGY DROP, CORE DIPS 0.1%
-Travel Restrictions Slash Prices for Hotels, Airline Fares -Consumer Inflation Remains Tame, Food Prices Up on Grocery Shopping By Kevin Kastner WASHINGTON (MaceNews) – Consumer prices fell more than expected in March, with a plunge in energy prices the main factor due to falling oil prices and a reduced demand for gasoline due to telecommuting […]
Faced With ‘Horrifying’ Oil Market Conditions, OPEC-Plus Agrees To Record Supply Reduction
VIENNA/WASHINGTON (MaceNews) – The OPEC-plus group of major oil producing countries – the oil cartel’s members as well as Russia and Mexico – hammered out a tentative deal Thursday, in a marathon negotiating session, to slash their oil output levels collectively by 10 million barrels per day. Saudi Arabia and Russia, the primary combatants in […]
FED’S POWELL WARNS AGAINST ‘FALSE STARTS’ RE REOPENING
–Up to $2.3 Trillion in Virus-Related Emergency Support -Powell: Not Worrying About Inflation By Denny Gulino WASHINGTON (MaceNews)- Federal Reserve Chair Jay Powell Thursday explained more about how the central bank is remaking itself to keep intact the structure of an enfeebled economy and he joined the chorus of voices warning against returning to work […]
DATA FLASH: US INITIAL CLAIMS REMAIN HIGH DUE TO BACKLOGS; MARCH PPI -0.2%
-Initial Claims Level Fall By 261,000 to 6.606 Mln, Continuing Claims Spike -March PPI Data Show Decline in Wholesale Inflation on Energy Prices By Kevin Kastner WASHINGTON (MaceNews) – The level of initial jobless claims fell modestly in the April 4 week, but the current week’s total lifted the number of new claims filed over […]