NY FED’S WILLIAMS: TOO SOON TO KNOW SCALE OF ECONOMIC DISRUPTION
NEW YORK (MaceNews) – The full scale of economic fallout from the COVID-19 pandemic remains unknown, but the Federal Reserve has acted decisively to support recovery, New York Fed President John Williams said Thursday. “Although stresses in financial markets will not entirely abate until the pandemic is behind us, we have seen material improvements in […]
DATA FLASH: US INITIAL CLAIMS CONTINUE TO PILE UP; MARCH HOUSING STARTS PLUNGE
–Initial Claims Level Fell By 1.370 Mln to 5.245 Mln, Continuing Claims Spike–Housing Starts Pace Slows to 1.216 Mln SAAR, Permits Slow to 1.353 Mln–April Philadelphia Fed Index Drops To -56.6, Echoing Drop in Empire Survey By Kevin Kastner WASHINGTON (MaceNews) – The growth rate of initial claims slowed further in the April 11 week […]
WHITE HOUSE WATCH COMMENTARY: VIRUS TOPS ANOTHER GRIM RECORD AMID JAGGED MOSAIC
By Denny Gulino WASHINGTON (MaceNews) – The virus continued painting a clear picture Wednesday of death on the march, killing more in the latest day than ever before, while all the elements that could make up a different picture, of success against the disease, remains a muddled mess. A status report with two weeks to […]
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 […]
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 […]
WHITE HOUSE WATCH COMMENTARY: ANOTHER ‘DECISION’ DRAMA WITH LIVES IN THE BALANCE
–‘I only hope to God that it’s the right decision.’ By Denny Gulino WASHINGTON (MaceNews) – Many governors and their medical advisers are pondering President Trump’s assertion Friday that “the biggest decision I’ve ever had to make” is something they will want to go along with at the end of the month. Some expressed concerns […]
OIL PRODUCERS WRESTLE W/PRODUCTION CUTS; MKT YAWNS
WASHINGTON (MaceNews) – The United States, OPEC members and other oil-exporting countries Friday wrestled with a daunting task, to persuade traders and customers that they can do something to overcome the biggest destruction of demand in the history of the oil industry. Even the White House tried to square the circle by promising to help […]
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 […]