The states of Ohio, North Carolina, Tennessee, Texas, and Michigan offer affordable housing, low cost of living, and a high quality of life, making them ideal choices for middle-class families looking to stretch their dollars.
Analysts predict that U.S. corporate earnings will improve in 2024 as inflation and interest rates decrease, but concerns about slowing economic growth loom over the outlook.
China's three-day New Year holiday saw a surge in consumer sentiment, driven by travel and tourism, indicating a strong start to the economy in 2024 and providing support for the recovery of consumption and a steady economy.
Recession deniers are repeating mistakes from past economic bubbles and ignoring key indicators such as the inverted yield curve, shrinking money supply, and leading economic indicators, warns economist David Rosenberg, who also points out that the stock market typically plunges about 30% during recessions.
Russian forces launched a coordinated missile attack and deployed drones against Ukraine, resulting in significant casualties and an estimated cost of nearly $620 million.
Construction spending rose 0.4% in November to $2.04 trillion, falling short of expectations, but overall construction spending has increased every month in 2023 and is up 11.3% in the past year, indicating a higher level of economic activity in the US.
British manufacturing sector starts the year on a weaker note due to higher borrowing costs and a slump in demand, leading to a drop in factory output and declining business confidence.
Apple stock has been downgraded by Barclays due to soft demand for the latest iPhone, while Tim Hortons announces the return of three retro doughnuts to celebrate its 60th anniversary.
Chilean economic activity exceeded expectations in November, driven by mining and services, indicating a potential rebound in growth in 2024 after a stagnant year, according to President Gabriel Boric.
Canada's top 100 highest-paid CEOs have already earned more than the average worker in 2024, with an average pay of $14.9 million, breaking records and representing 246 times the average worker's pay.
The global economy faces several potential challenges in 2024, including central banks cutting interest rates, a developing-country debt crisis, pre-election tax cuts in the UK, a deepening US-China cold war, the rise of generative AI, and the potential for rising oil prices.
Today's mortgage interest rates for 30-year fixed rate mortgages have decreased slightly to 6.99%, while 15-year fixed rate mortgages have seen a larger decrease to 6.31% and 5/1 adjustable rate mortgages have decreased to 6.40%, with adjustable rates dependent on loan terms and market fluctuations.
The next BRICS summit, scheduled for October 2024, may see more developing countries being inducted into the alliance, which could lead to a significant impact on the US financial sector and potentially trigger hyperinflation within the country as local currencies gain prominence in international trade and the US dollar loses its dominance.
The Australian economy is facing a hard landing at the end of its rapid rise in interest rates, with declining household income and consumption, but the government remains optimistic due to a strong labor market, robust home prices, and a healthy budget surplus, while the Reserve Bank of Australia has the capacity to cut interest rates to counter any downturn; overall, economists predict a soft landing for the economy in 2024 with continued resilience and expansion.
Hong Kong restaurants experienced a drop in business on New Year's Eve due to a decrease in tourist influx and residents spending across the border, with revenue dropping by 10 percent compared to the previous year.
Pakistan's stock market experienced a remarkable turnaround in 2023, becoming the best-performing market globally and gaining the title of the third best performing in local currency, thanks to factors such as a $3 billion IMF loan program, stability in the exchange rate, and renewed investor confidence.
Employees can expect salary increases, expanded leave options, and more financial wellness benefits in 2024, while some companies may implement a four-day workweek and eliminate degree requirements in job postings to access a broader talent pool.
The German economy is facing stagnation and potential shrinking as consumers hold back due to inflation, rising prices, and a sluggish global economy, exacerbated by unstable energy prices and the green transformation of the economy; a major court decision and the government's debt brake have further created uncertainty and austerity measures, posing risks to economic growth.
Switzerland has eliminated import duties on industrial products, aiming to reduce costs for consumers and manufacturers and generate annual savings of over CHF860 million ($1 billion).
Mortgage rates have dropped over the last week, with average rates for 15-year fixed mortgages, 30-year fixed mortgages, and 5/1 adjustable-rate mortgages all decreasing, although rates are not expected to have a significant impact on holiday home shopping plans.
Around half of Americans believe that the US economy is in a poor state, and former economic advisor to President Reagan, Art Laffer, agrees with their negative sentiment, attributing it to concerns about job growth, high prices, and low GDP growth.
An interior designer in California accepted $100,000 for home renovations but never paid the vendors, leaving the project at a standstill and the homeowner out of money, faced with the dilemma of seeking justice or waiting for payment.
Investors are betting on major Western central banks shifting from raising to cutting interest rates, but the transition to higher rates in 2024 could bring about challenges for the global economy, leading to debt restructuring, bankruptcies, and adjustments for consumers.
Rising housing costs and financial pressures are prompting some Canadians to leave the country in search of more affordable places to live, such as Portugal and Spain.
Food prices in Ontario are predicted to rise between 2.5% and 4.5% in 2024, but consumers can save money by being patient, comparing prices, sticking to a grocery list, utilizing coupons and flyers, and taking advantage of loyalty programs offered by competing grocery stores. Additionally, avoiding food waste can be achieved through meal planning, purchasing frozen or canned fruits and vegetables, and repurposing leftovers.
French manufacturing has entered a “downward spiral” as the sector suffers a deepening crisis in the country. Manufacturing in France declined at the end of 2023, with the HCOB France Manufacturing purchasing managers’ index falling to 42.1, marking its lowest level since May 2020. The closely-followed S&P Global/CIPS UK manufacturing purchasing managers’ index survey showed that manufacturing in the UK fell for a 15th consecutive month, with job losses recorded for a 15th month in a row as firms continued to make redundancies or halt hiring.
Only 51% of American credit card customers believe they can fully pay off their December balances, marking a record low in "credit card confidence" as the holiday season concludes.
The People's Bank of China has injected nearly $50 billion of low-cost funds into policy-oriented banks, indicating potential increased financing for housing and infrastructure projects to bolster the economy.
Euro zone factories ended 2023 with contracted activity for the 18th straight month, indicating a likely recession and little hope for a strong rebound in the economy, according to a survey.
Hong Kong stocks start the year on a low note after China's PMI report indicates continued economic weakness, with manufacturing activity contracting for the third consecutive month and home sales of top developers plummeting, leading to a decline in major stock gauges and concerns over the equity markets in Hong Kong and mainland China.
Chinese leader Xi Jinping acknowledged the challenges in China's economy, including companies facing difficulties and people struggling to find jobs, as December factory activity contracted for the third consecutive month.
China's manufacturing contracted in December, marking the third consecutive month of contraction, indicating weak demand in the world's second-largest economy.
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Chinese shares pulled down Asian equities, crude oil rose, and US stock futures remained unchanged as weaker-than-expected factory data and President Xi Jinping's speech highlighted economic headwinds in China.
Britain's electricity grid is unable to keep up with the demand for connections, resulting in long waits and delays for companies like semiconductor start-up Paragraf, which had to divert money and time to increase power supply to its manufacturing base.
India's booming economy is being held back by stagnant long-term investment and declining foreign money, raising concerns about the sustainability of its growth.
The International Monetary Fund (IMF) will consider releasing a second tranche of $700 million to Pakistan on January 11, after Pakistani authorities signed a Letter of Intent (LoI) committing to execute agreed-upon conditions, including the pursuit of a market-based exchange rate mechanism, in order to achieve fiscal consolidation.
Chinese President Xi Jinping reaffirms plans to reunify Taiwan with China, Chinese property market experiences revival, Saudi Public Investment Fund's massive spending, new battery sourcing rules in America impact electric vehicle tax credits, and recall of baby formula due to potential bacterial contamination.
The IMF is set to discuss and potentially approve the disbursement of the next $700 million tranche for Pakistan, which could provide crucial financial support and shape the ongoing economic cooperation between the two. However, economic projections suggest a challenging outlook, with a contraction in GDP and a rise in inflation anticipated for 2024.
China's factory activity expanded in December, with stronger gains in output and new orders, but business confidence for 2024 remained low due to concerns over customer budgets, tough competition, and sluggish markets.
Gas prices are expected to fall in 2024, food inflation is projected to slow down with grocery prices predicted to decrease, while restaurant prices are expected to rise, and the real estate outlook is uncertain with predictions of both rising and falling home prices.
President Biden's major economic promises, including student-loan relief, a minimum-wage hike, and a reversal of the 2017 Trump tax cuts, remain largely stalled due to Congressional opposition, according to a Wall Street Journal analysis.
Shop prices in the UK rose by 4.3% in December due to an increase in the price of non-food items, while costs of food eased; retailers warned that new border checks on EU goods and the rise in the minimum wage will further drive up prices.
The Bank of England is expected to cut interest rates twice in 2024 due to slowing economic growth and decreasing inflation, according to economists surveyed by The Times.
Record-high inflation in the US has led to a surge in food pantry visits, with many Americans relying on food donations to cope with rising prices and squeezed budgets.
Food prices in British Columbia are expected to increase by 2.5 to 4.5 percent in 2024, following the national average, as part of a trend of rising costs for food, housing, fuel, and transportation that is affecting the province.
The Bank of Israel has lowered interest rates for the first time in almost four years due to falling inflation and concerns about the economic impact of the Gaza war.
The US economy may be at risk as $117 billion worth of loans on office buildings are due this year and may default or result in insolvency for banks and developers due to the increase in interest rates and empty workspaces caused by the pandemic.
Wall Street is showing a loss of enthusiasm for investing in China, as American investors have concerns about the burden of debt and China's economic slowdown, in addition to Washington's trade war with China, leading to net withdrawals from Chinese stocks and bonds for the first time in a long time.
Almost half of Americans are making better financial planning one of their New Year's resolutions for 2024, as rising prices and interest rates have increased their financial concerns, according to a survey by Allianz Life Insurance Co.