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We Are Not in a Recession
Economic wins in August have boosted confidence among analysts, following two quarters of negative growth. Still, recession fears loom for now. The economy added 528,000 jobs just in July and the unemployment rate fell to 3.5%, the lowest it has been since 1969...
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Business Investment Slows in Second Quarter
U.S. business investment fell off in the second quarter, dragging down gross domestic product and ending a seven-quarter run of historic contributions to growth. Nonresidential fixed investment, which includes expenditures for such things as building and renovation, fell 0.1% on an annualized basis for all industries except mining and drilling...
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Supply Chain Snags Shift from West Coast to East
While fewer container ships may be sitting at anchor in the Pacific, supply chain congestion has shifted east. Off the coast of Los Angeles, at the Port of Long Beach, just 21 container ships were backlogged in June, compared to a record 109, according to Marine exchange...
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High Reverse Repo Levels Could Hinder U.S. Banks
The Federal Reserve reverse repurchase facility (RRP) contains $2 trillion in overnight cash, aiming to manage excess liquidity in the financial system. But could it make trouble for banks? Following the 75-basis-point interest rate hike in late July...
Solid Q2 Earnings Allay Recession Fears, Says Goldman Sachs
Strong second-quarter earnings may indicate no need to worry about a recession, according to Goldman Sachs analysts, though the U.S. economy has contracted for two consecutive quarters. U.S. S&P 500 companies saw a 9% year-on-year increase in earnings with growth in every sector...
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Some Signs Indicate Supply Chain Easing
Though supply chain snags continue, some indicators point to possible improvements in the global transport of goods. The Federal Reserve Bank of New York’s Global Supply Chain Pressure Index (GSCPI), a combination of transportation cost data and manufacturing indicators used to assess supply chain status, fell between April and June...
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Supply Chains May Move Closer to Home – And Allies –...
If given the choice, many people would opt to do business with neighbors and friends rather than distant strangers. The world economy may be following such personal preference, if Morgan Stanley analysts are correct...
Investors Are Pessimistic, BofA Survey Says
Investors reduced exposure to risk assets in an economic climate described as “dire,” according to a July Bank of America survey of 259 chief investment officers, asset allocators, and portfolio managers. Allocation to stocks fell to 2008 levels, and exposure to cash jumped to a 20-year high, the monthly survey of fund managers revealed...
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U.S. Will Avoid Recession, Some Wall Streeters Say
Not so fast, some analysts are saying. The U.S. may duck a recession. Despite how many Americans are feeling when they go to the store or buy gas, some investors and economists are more optimistic about the country’s economic forecast...
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Supply Chain Snags Seem to Be Resolving, Setting Stage for Lower...
In October 2021, it took 110 days for an item to make its way from Asia to the U.S. In the week ending July 10, it took 95. Fifteen days is like an eternity in the world of the supply chain. According to the logistics company Flexport, whose Ocean Timeliness Indicator tracked the recent progress, shaving off the 15 days could mean a lot for U.S. customers...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...