20% Drop in Sales Federal reserve policy pushed mortgage rates sharply up, squeezing some would-be homebuyers out of the market. Mortgage applications are down and so are home sales. For six consecutive months through July, sales of existing homes have dropped and are now down 20% from the prior year. [...]
Discretionary Pause Soaring inflation of the last few months has seemingly driven up the cost of everything. It has hit low-income Americans hard, as some of the biggest price increases have been in non-discretionary items. With prices for the 12 months ending July revealing a 44% increase in the cost [...]
Softening Ad Revenue A diverse array of companies is being adversely impacted by a slowing advertising market as consumers dial back their spending amid soaring inflation. The trend is showing up on some of these companies’ bottom lines. Technology operations like Facebook parent Meta Platforms (META), and Alphabet (GOOGL) have [...]
Signs of Relief For most of this year, inflation has been on a tear. Supply-chain constraints, the Russia-Ukraine war, and robust employment have all put winds in the sails of rising prices. Some key non-discretionary expenses such as food and energy, including gas and utilities, moved up to dizzying levels. [...]
Chip Glut Predictions Whether car, computer, or video game, semiconductor chips are used in a lot of different products. The recent shortage has led to price spikes and delivery delays. Recent earnings reports from NVIDIA (NVDA) and Micron Technology (MU) suggested the crisis may be abating, as they forecasted a [...]
Going with the Flow Adam Neumann snagged upwards of $350 million for his new company, Flow, from venture capital firm Andreessen Horowitz. Neumann is known for founding WeWork (WE) which he exited after a botched 2019 IPO. He is now setting his sights on residential real estate. With Flow, he [...]
Supply from Sichuan If the last two years have been challenging for the world’s economy — and society as a whole — times have been especially hard on the auto industry. Amid a series of other challenges, a serious drought in China poses the latest problem. Sichuan province, located in [...]
Misleading Fraud On Tuesday, the Biden administration announced the Department of Education will cancel $3.9 billion in student loan debt for 208,000 students who attended ITT Technical Institute. The now-defunct for-profit school was founded in 1969 and shut down in 2016. Prior to closure, the federal government pulled its funding, [...]
Relief at the Pump The Census Bureau reported data on July’s retail sales Wednesday, a key metric used to gauge inflationary pressures. Tracking consumer spending is important because it comprises an estimated two-thirds of US gross domestic product, a measure of economic growth. The previous month’s numbers were mixed. Retail [...]
Pushing Pedals in 2020 As the COVID-19 pandemic unfolded and gyms closed along with other lockdowns, cycling became a popular fitness option. For companies selling both stationary and traditional bicycles, business was brisk. Virtual classes also exploded in popularity. Instead of working out alongside fellow gym members, on-screen instructors served [...]
