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? […]
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 […]
WHITE HOUSE WATCH COMMENTARY: ‘INADEQUATE’ VS ‘NONEXISTENT’
By Denny Gulino WASHINGTON (MaceNews) – Numbers, graphs, plaintive accounts from hospitals and communities, bereaved relatives – the worst week so far goes on and there’s no way to sugarcoat it. New cases are leveling off but past infections keep leading to deaths now in numbers never seen before. The medical experts hope deaths are […]
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 […]
FED LAUNCHES NEW PACKAGE OF $2.3 TRILLION IN CREDITS
By Steven K. Beckner (MaceNews) – The Federal Reserve’s aggressive credit easing measures since early March have steadied financial markets, though not the economy, but not content to rest on its laurels, the Fed continues to innovate and explore the full extent of its emergency lending powers. The Fed, in conjunction with the U.S. Treasury, […]