Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. WHO: COVID-19 Pandemic is no longer a public health emergency of international concern The World Health Organization has announced that COVID-19 is no longer a public health emergency of international concern, although it still poses a global threat. The agency has warned that people are still dying from COVID-19… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. JPMorgan is buying First Republic Bank Following news that First Republic Bank was put into receivership by regulators early Monday, JPMorgan announced it would take over the bank. This makes First Republic Bank the third regional bank to be taken over by federal regulators since March and the second-largest… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Earnings season shows that things aren’t so bad S&P 500’s Q1 earnings season started better than the previous two quarters, but positive earnings surprises and their magnitude are below 5-year averages. While earnings have improved, the index still shows the largest YoY decline since Q2 2020. Get a detailed… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Stock futures rise as investors await bank earnings Futures tied to major US stock indices rose on Sunday as investors await more earnings reports from major US banks this week, including Goldman Sachs and JPMorgan Chase. Which vehicles are eligible for the new EV tax credit? A new bill… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Fed expected to raise rates in May Amid the most recent economic data, analysts are trying to predict what it all means for interest rates in the coming months. Watch Yahoo Finance’s Jared Blikre and Seana Smith discuss what could be next here. US economy adds 236,000 jobs in… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Why do US banks keep failing? In this video, CNBC discusses the collapse of several banks and the impact it has had on the economy, with over 550 banks failing since 2001 according to the FDIC. New EV tax credit rules make many vehicles ineligible The US Treasury Department… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Barr says US banking system is ‘sound and resilient’ Vice chair of the Federal Reserve Michael Barr said on CNBC this week that we have no need to worry about our banking system in the wake of Silicon Valley Bank’s collapse. Crypto prices drop as CFTC sues Binance for… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Interest rate decision expected this week The Fed will announce a decision on interest rates this week, and many economists expect them to be lowered. Those who think rates will be raised again say it would confirm that we are headed toward a recession. The decision is expected Wednesday.… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. President Biden assures Americans that the banking system is safe amid Silicon Valley Bank collapse President Biden reassured Americans that their deposits in the banking system are safe and that his administration will take action to contain Silicon Valley Bank’s collapse. He explained how his administration will protect small… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. China is booming as Zero Covid approach ends The Chinese economy is heating up, with manufacturing growing at its highest rate in a decade. The improvement is due to the widespread loosening of restrictions which brought millions of people back to work and bodes well for the world economy.… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Inflation measures surged at the fastest rate since last June Consumer prices rose 0.6% from December to January, the fastest pace since June. Core inflation was up 4.7% compared to this time last year. Consumer spending rose 1.8% from December to January. Government takes action against crypto industry Last… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Meta follows in the footsteps of Twitter Mark Zuckerburg announced that Meta is launching a pay-for-verification subscription service called Meta Verified for Facebook and Instagram, much like Twitter Blue. The launch begins in Australia and New Zealand this week, with more countries to follow. Nearly 1.1 million cars recalled… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Is the U.S. economy really heading for a recession? Here’s what the economists think While many economists believe the U.S. is headed for a recession, the Bureau of Labor Statistics reports that the unemployment rate remains at 3.5%, the lowest in around 50 years. Economists say the country could… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. The Fair Tax Act explained A group of House Republicans is supporting the Fair Tax Act, which would eliminate income, payroll, estate and gift taxes and replace them with a 23% national sales tax. However, it’s unlikely to make it through the Democrat-controlled Senate. No more free grocery deliveries… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. The government hits its debt ceiling The treasury secretary said the government would suspend debt issuance and investments into two government employee retirement funds until Congress acts. Microsoft throws its weight behind OpenAI Microsoft is making a multibillion-dollar investment in the artificial intelligence startup OpenAI, which makes ChatGPT, DALL-E… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. How will this recession be different from 2008? Economists predict a recession will arrive by the end of this year, but the downturn will likely play out much differently than it did in 2008. Leaders descend on Davos to talk about economics The World Economic Forum (WEF) returned to… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Layoffs ahead for Goldman Sachs According to a person familiar with the matter, Goldman Sachs will lay off as many as 3,200 employees this week. The bank has been hit by a slump in global activity. Investors weigh their chances against further rate hikes Money market bets are showing… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Stocks aren’t strong heading into the holiday season Wall Street closed lower on Monday for a fourth straight session, with investors avoiding riskier bets. They worry that the Fed’s tightening campaign could push the economy into a recession. Jan. 6 committee recommends criminal charges The January 6 Committee recommended… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. Small businesses hold the key to supply chain resilience Small and midsize businesses play an important role in supply chains, representing 44% of US private employment and most of the country’s STEM jobs. They also represent an enormous opportunity to improve supply chain resilience while increasing overall competitiveness. A… Read more
Welcome back to our Weekly Digest. Read on for the latest updates and some ideas to help us all move forward. NSW builder goes into voluntary administration due to rising costs and pandemic effects Elderton Homes, a major New South Wales builder, has plunged into administration after catastrophic weather events, the pandemic, and rising materials costs made business too costly to continue. ABS data shows that payroll jobs are up,… Read more