Jeffry Bartash of MarketWatch is reporting that the U.S. consumer confidence index climbed to a two-year high. Bartash writes: Consumer confidence jumped in January to a two-year high of 114.8, a survey showed, reflecting slower inflation, a record stock market and improved growth in the economy. The closely followed index advanced from a revised 108.0 in December, the Conference Board said Tuesday. Economists polled by the Wall Street Journal had forecast the index to register 115.0. The last time the index was higher was in December 2021. [...] And the next move by the Federal … [Read more...]
Billions of Tax Dollars Flow into Microchips
Yuka Hayashi of The Wall Street Journal is telling her readers that the Biden administration, eager for an economic win, is injecting billions into advanced chips. Hayashi writes: The Biden administration, eager to highlight a signature economic initiative as elections approach, is expected to award billions of dollars in subsidies to Intel, Taiwan Semiconductor Manufacturing Co., or TSMC, and other top semiconductor companies in coming weeks to help build new factories. The grants are part of the $53 billion Chips Act, intended to reshore production of advanced microchips and fend off … [Read more...]
Electric Vehicle Industry Rocked by Setbacks
Ryan Felton and Christina Rogers of The Wall Street Journal are reporting a bumpy start for what was supposed to be a big year for electric vehicles. They write: The auto industry’s pivot to electric vehicles has been rocked by setbacks in the first weeks of 2024, creating more uncertainty as a flood of new battery-powered models is hitting showrooms. The latest bad news came Wednesday when Tesla—the world’s most valuable automaker—warned of notably lower growth this year and left investors with few answers on how it will slow its profit-margin erosion. The downbeat remarks followed … [Read more...]
Durable-Goods Unchanged in December
Economists expected a slight rise in durable goods orders, but they were dragged down by the transportation sector and by capital goods in the defense sector, reports Joshua Kirby of The Wall Street Journal. He writes: Orders for longer-lasting goods in the U.S. were unchanged in December, pointing to little movement in manufacturing as the year ended. New orders for products meant to last at three years, such as appliances, computers, cars and other manufactured goods, were stable on month, adjusted seasonally, according to Commerce Department figures set out Thursday. [...] Orders … [Read more...]
Warm Temps Pushing Down Natural Gas Prices
Ryan Dezember of The Wall Street Journal tells his readers that warmer temperatures in December have pushed down prices for natural gas despite the frigid temps at the start of 2024, causing a surplus in U.S. natural gas. Dezember writes: U.S. natural-gas production notched new highs in December, pushing down prices for the heating fuel despite the frigid start to 2024. The flood of gas, along with forecasts for unusually warm weather in the coming weeks, has knocked natural-gas prices down by more than 30% since the start of heating season at the end of October. Natural-gas futures for … [Read more...]
Houthis Aided by Iranian Military Advisers and Technology
Benoit Faucon and Warren P. Strobel of The Wall Street Journal tell their readers how Iranian military technology and advisers have aided Houthi attacks in the Red Sea. They write: Iran is sending increasingly sophisticated weapons to its Houthi allies in Yemen, Western officials and advisers say, enhancing their ability to attack merchant vessels and disrupt international commerce despite weeks of U.S-led airstrikes. The Houthis, once derided as a ragtag militia operating in Yemen’s arid backcountry, have emerged as one of Iran’s most capable proxies, these officials and analysts say, due … [Read more...]
Surveys Show Economic Growth and Waning Inflation
Jeffry Bartash of MarketWatch tells his readers that recent S&P surveys ‘send a clear and welcome message of resilient economic growth and sharply waning inflation’. Bartash writes: The U.S. economy got off to a good start as growth sped up in January a pair of S&P business surveys showed, indicating a recession still appears far off. The S&P flash U.S. services PMI climbed to a seven-month high of 52.9 in January from 51.4 in the prior month, S&P said Wednesday. The flash U.S. manufacturing PMI, meanwhile, jumped to a 15-month high of 50.3 this month from 48.2 in … [Read more...]
“Inflation Dodger”
You want a history lesson? In 1987, I was interviewed by The Kiplinger Magazine - Changing Times (which is known today as Kiplinger’s Personal Finance). This wasn’t long after I had written Financial Armadillo Strategy with the late David Franke. At the time, America was coming off some of its heaviest inflation ever, and investors wanted a solution to the problem. Despite those high rates of inflation in the 80s, I warned that even somewhat more moderate rates of inflation—like those Americans have seen over the last two years—do real harm to investors. “I don’t mean 10% or 15% inflation; … [Read more...]
China Moves to Curb Stock Selloff
Jason Douglas of The Wall Street Journal tells his readers that the central bank of China is sending a signal that officials are eager to curb a stock selloff and support the economy. Douglas writes: China’s central bank announced new steps to boost bank lending to households and businesses, an early move in what is expected to be a broad but restrained campaign by authorities to prop up growth this year after a lackluster 2023. It comes on the heels of signs of gathering government support for China’s swooning stock market, with investors detecting a rash of share buying by pension … [Read more...]
U.S. Plans to Break Russia’s Grip on the Nuclear Fuel Market
Shotaro Tani of the Financial Times reports on the plan in place by the U.S. to break Russia's grip on the nuclear fuels market. He writes: Over the past three decades, US and European utilities became hooked on supplies of cheap enriched uranium from Moscow, which account for more than a fifth of the fuel needed to power their reactor fleets. Russia’s full-scale invasion of Ukraine in 2022 forced Washington to review its heavy reliance on Moscow. The US is devising a multibillion-dollar investment strategy designed to reboot its domestic industry, which was ravaged by a collapse in … [Read more...]
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