The 'Santa rally' continues in global stocks, fueled by the Bank of Japan's dovish tilt and expectations of U.S. interest rate cuts, while Chinese stocks are expected to remain unchanged as the People's Bank of China prepares to deliver its latest policy decision.
The United States is on track to produce a record-breaking amount of oil, undermining the argument that President Biden is phasing out the oil industry, as the country's output is driven by efficient operations and market forces rather than government policies.
Experts have found that the future of self-checkout in stores will largely depend on customer behavior and their willingness to embrace the technology despite growing issues and customer backlash.
The Canadian dollar strengthened against the US dollar as investors reduced bets on the Bank of Canada cutting interest rates after domestic data showed inflation remained steady in November.
The inflation rate has fallen from its peak, but that doesn't mean prices will reverse; prices generally rise over time, and officials at the Federal Reserve aim to keep it that way.
The collective wealth of Americans aged 70 and older has surged during the pandemic, with their share of the country's wealth reaching a record 30% last quarter, driven by the increased value of homes and stocks, as well as a rising number of older individuals still working.
The Washington Post has conducted a road trip to the Rust Belt to investigate how the U.S. economy will impact the upcoming presidential election, speaking with small business owners in Milwaukee, Pittsburgh, and Detroit.
Dollarizing Argentina's economy, as proposed by President Javier Milei, can address the country's high inflation but not its underlying fiscal problems, and Zimbabwe's experience with dollarization serves as a cautionary tale.
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Despite anticipated monetary policy shifts, investors remain bullish on Japan as they expect India to continue its rise as an economic powerhouse in 2024.
Britain is facing a significant economic downturn in 2024, according to chief investment officer Daniel Ivascyn, who warns that Pimco is betting more heavily on UK government bonds due to the struggling economy and the impact of central bank policies on consumers.
Economist Harry Dent predicts a colossal market crash in 2024, attributing it to overvalued markets, excessive stimulus spending, and the bursting of an "everything bubble," with significant downturns expected in stocks, crypto, and real estate. Dent advises investors to exit the market to avoid substantial losses, anticipates a depression within a year, and foresees a prolonged slowdown exacerbating America's wealth gap. However, he sees a silver lining with a subsequent millennial boom extending into 2037.
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California is facing a record budget deficit due to economic factors and miscalculations, while other states are experiencing both deficits and surpluses, influenced by various factors such as tax structures and industries.
Despite positive economic indicators such as low unemployment and rising GDP, residents in Tampa Bay and across Florida are facing drastic price increases, with high inflation and housing costs outpacing wage growth, leading to decreased purchasing power and financial struggles for many families.
High-rate environment offers opportunities for savers to earn big returns on CDs; here are some top CD options with high rates and requirements that fit within your financial picture.
The US economy defied expectations in 2023, experiencing robust growth driven by strong consumer spending, job growth, real wage gains, and historic advances for women and Black workers, while also achieving significant manufacturing investment and low unemployment rates, despite falling inflation.
Unemployment in Latin America and the Caribbean reached its lowest level since 2014 in 2023, but an expected economic slowdown in 2024 may reverse the progress made in post-pandemic recovery, according to the International Labor Organization (ILO).
Economist Harry Dent predicts that 2024 will experience the biggest crash year, with an 86% crash in the S&P, a 92% crash in the NASDAQ, a 96% crash in cryptocurrency, and a 50% crash in real estate. He believes that the current market bubble will burst due to overvalued markets and excessive stimulus spending, leading to a depression and deflation. Dent advises investors to get out of the market and expects the impact of the crash to widen America's wealth gap.
The upcoming Personal Consumption Expenditures (PCE) report is expected to show the first sub-3% inflation reading in several years, potentially easing fears of a stock market crash and affirming the Federal Reserve's relatively positive inflation outlook.
Home sales in California hit a 15-year low in November, as existing single-family home sales dropped by 7.4% compared to October and 5.8% from November 2022, resulting in the lowest level since the Great Recession of 2008-2009; however, there is optimism for a potential recovery in the market due to declining mortgage rates and a shift in the Federal Reserve's stance on cutting rates.
Ukraine's economy, already strained, is set to face more challenges in 2024 and will rely heavily on foreign financial aid to address a $43 billion budget deficit, with potential tax hikes or printing money as possible solutions, while also needing to restructure international debt and adapt to new conditions if the war continues. The economy has shown signs of recovery this year, but risks and constraints remain high, including a shortage of workers and disruptions in logistics and exports.
The rate of inflation in Canada remained at 3.1% in November, which could persuade the central bank to maintain its policy rate at the highest level in two decades.
The recent attacks on commercial ships in the Red Sea by Yemen's Houthi militants have led BP and four major container shipping companies to suspend transit through the Red Sea and the Suez Canal, threatening to disrupt global trade and push up oil prices and inflation.
Canada's annual inflation rate remains steady at 3.1% in November, leading to market players reducing their expectations of interest rate cuts by the Bank of Canada.
U.S. single-family homebuilding rose to a 1.5-year high in November and is expected to gain momentum as mortgage rates decline and incentives from builders attract buyers, helping to support the housing market and the economy.
The US is experiencing a shift towards remote work, resulting in high office vacancies and a potential decline in commercial real estate values, but there may be opportunities for investors in residential real estate conversions.
The Nigerian National Bureau of Statistics reported a growth rate of 14.27% in the Company Income Tax (CIT) for Q3 2023, with the Information and Communication sector contributing the most to the country's total CIT.
Despite predictions of a recession, the US economy has managed to avoid one due to the Federal Reserve's efforts to combat inflation while maintaining job growth and consumer spending.
Economist Harry Dent predicts a major market crash in 2024, citing overvalued markets, excessive stimulus spending, and the formation of an "everything bubble" as contributing factors. Dent warns that the crash will be severe and urges investors to get out of the market to avoid massive losses.
Millennials are prioritizing travel over traditional financial goals, such as homeownership and starting a family, due to the challenges they have faced with the housing crisis, student debt, and inflation, with nearly half of them considering travel a significant goal in the next five years, according to a survey conducted by Business Insider.
Nuveen's chief investment officer, Saira Malik, warns that the US economy is likely to slip into a recession next year due to weakening consumers, a slowdown in the labor market, and the potential for a "black swan event." However, she suggests 12 investments that investors can make to protect against the upcoming turbulence, including stocks with steady dividends, materials and real estate sectors, and emerging markets like Brazil and Mexico.
Argentinian President Javier Milei is taking aggressive steps to reshape the country's economy, including devaluing the peso by 54% against the US dollar and implementing other measures to address high inflation, with the ultimate goal of "dollarizing" the economy, although experts express skepticism about the feasibility of this plan given the current state of the economy.
Big Tech's dominance in the cloud market is raising concerns over its potential anticompetitive influence on the future of AI, prompting policymakers to call for regulation in order to protect competition and prevent tech companies from crushing competitors and putting consumer privacy and safety at risk.
India is projected to become the world's fifth-largest outbound travel market by 2027, with spending estimated at $89 billion, according to a report by Bernstein. The country is also expected to become the third largest domestic travel market, surpassing Brazil, Italy, Australia, Japan, Germany, France, and Mexico. However, despite strong growth, India's inbound travel market is not expected to make it into the top 10 markets.
A Congressional Budget Office (CBO) report reveals that government transfers during the Covid-19 pandemic increased incomes for all income levels, but particularly benefited high-income households, worsened debt and deficits, and led to inflation, with low-income households being hit the hardest.
India has strongly disagreed with the IMF's assessment that the Reserve Bank of India's intervention in the foreign-exchange market was excessive, leading to a reclassification of India's foreign-exchange regime; however, the IMF maintained an optimistic outlook for India's economy if key structural reforms are undertaken.
India has pushed back against the International Monetary Fund (IMF) for characterizing its central bank's intervention in the foreign-exchange market as excessive, with the IMF reclassifying India's foreign-exchange regime as a "stabilized arrangement" from a "floating" system; however, India strongly disagrees with the assessment.
The Bank of Japan has left interest rates unchanged and will continue with its yield curve control measures in order to support economic growth, while offering little indication of any monetary policy tightening in 2024.
A Chinese financial crisis caused by a real estate bubble burst would hinder President Xi Jinping's objective of doubling China's GDP, according to the Japan Center for Economic Research.
China's State Council has adopted policy measures to establish a unified national market, aiming to remove barriers and promote the free flow of factors and integration for economic recovery and growth.
San Francisco Federal Reserve President Mary Daly suggests that cutting rates may be necessary to prevent overtightening, but Santandar Chief U.S. Economist Stephen Stanley warns of the risk that the Fed cuts too early and inflation reaccelerates, which he sees as manageable.
Chileans voted to keep their existing constitution, sending a message to politicians to address the country's pressing needs within the current legal framework, rejecting both a more conservative and a more progressive proposed constitution.
Seventy-six percent of small businesses have not seen an increase in sales during the holiday season, with 55% experiencing a decrease in profit margins and 70% having their personal spending plans impacted by the state of the economy, according to a poll by Goldman Sachs.
US Steel, once the most valuable company in the world, has agreed to be purchased by Nippon Steel, Japan's largest steelmaker, for $14.1 billion, highlighting the decline of American manufacturing and the shift in the nation's economy towards services and technology.
Federal Reserve officials are seeking to clarify their stance on interest rate cuts in 2024, emphasizing that they are not committed to cutting rates swiftly or soon and highlighting the importance of progress on inflation, economic growth, and the job market.
Goldman Sachs' chief economist, Jan Hatzius, predicts a decline in global inflation, leading to earlier and more aggressive interest rate cuts by major central banks in developed markets in 2024, which will boost GDP growth and corporate earnings and be favorable for risk asset markets.
BMO Capital Markets strategists predict that the curve steepener, in which long-term Treasury yields trade higher than shorter-term yields, will be the macro trade of 2024 due to expectations of rate cuts by the Federal Reserve, potentially resulting in a bull steepener scenario.
Exact Sciences Corporation, a molecular diagnostics company, has settled a federal discrimination lawsuit by paying damages to a job applicant whom they refused to hire due to his age, according to the U.S. Equal Employment Opportunity Commission.
Northeast Ohio faces challenges in electric vehicle infrastructure and research and development investment, but benefits from a lack of vacant industrial sites, according to a report by Team NEO.