Stocks making the biggest moves midday: Amazon, P&G, Caterpillar and more
In this photo illustration an Amazon logo is displayed on a smartphone with stock market percentages in the background. SOPA Images | LightRocket | Getty Images Check out the companies making headlines in midday trading. Amazon — Amazon shares fell...
The IRS has issued $10 billion in tax refunds on unemployment benefits. Here’s why another break is unlikely next year
Stefani Reynolds/Bloomberg via Getty Images The IRS began issuing another 1.5 million tax refunds this week to people who received unemployment benefits in 2020. That adds to the nearly 9 million refunds, worth about $10 billion, the agency sent since...
The Weekly Bottom Line: The Economy Remains on Solid Footing
U.S. Highlights Thursday’s second quarter GDP report underwhelmed, but a solid foundation for future growth is developing. The pandemic continues to present supply chain challenges that are both driving prices higher and weighing on economic growth. Consumers are flush with...
Forward Guidance: July Canada and U.S. Labour Market Reports to Show Further Improvements
July’s employment reports are expected to show labour market conditions continued to improve in both Canada and the US. Similar to June, the hospitality sector will drive much of job gains in July as the economies continue to reopen. In...
Week Ahead – US Jobs Report Up Next
Country US The upcoming jobs report will be pivotal for the Fed in deciding whether the economy is headed toward hitting their substantial progress goal. Now that the Fed has finally had their first deep dive into discussing tapering asset...
Delays for unemployment benefits persist, over a year into pandemic
A career fair in Louisville, Kentucky, on June 23, 2021. Luke Sharrett/Bloomberg via Getty Images Unemployment benefits are still not reaching people quickly, over a year into the Covid pandemic. About 38% of workers who got their first payment of...
Week Ahead – Nonfarm Payrolls Highlight a Huge Week
Global markets will go into overdrive next week, with two central bank meetings and a landslide of data coming up. The RBA will probably reverse its tapering plans amid extended lockdowns in Australia, whereas the Bank of England might strike...
EUR/USD Outlook: Bulls Lose Traction but Still on Course for Nearly 1% Weekly Advance
The Euro eases from one-month high on Friday, as bulls run out of steam following nearly 1% advance this week. US consumer spending rose above expectations in June and inflation accelerated further above Fed’s 2% target that boosted the dollar...
Key inflation indicator up 3.5% year over year in June for fastest gain since 1991
An inflation indicator that the Federal Reserve uses as its key guide rose 3.5% in June, a sharp acceleration that was nonetheless right around Wall Street expectations, the Commerce Department reported Friday. The personal consumption expenditures price index, which excludes...
Dollar Recovers after Personal Income and Spending, But Still the Worst Performer
Dollar recovers mildly in early US session, following slight weakness in risk sentiments. Additionally, stronger than expected personal income and spending are providing some support too. Still, the greenback remains the worst performing one for the week. There is prospect...