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The FOMC expects to raise interest rates this year. Slow growth in the global economy and inflation being lower than expected are reasons why they did not raise rates. The National Retail Federation predicts an increase of 3.7% from last year’s holiday shopping to 630 billion dollars. Holiday shopping...
Consumer spending slowed as retail sales were flat in April. This is important because consumers make up 2/3 of the economy. Verizon has bought AOL for 4.4 billion dollars looking to pull in ad revenue from their online and mobile presence. In 2000, AOL and Time Warner merged...
We are at the lowest unemployment rate in 7 years. 223,000 jobs were created in April which was roughly in line with analysts estimates. Mortgage rates are creeping up as the 30 year is now at 3.8%. In July, Jet Blue will start flying weekly single charter flights to...
The GDP grew 0.2% in the first quarter which was far below analysts expectations. The economy was probably also slowed due to the strong dollar, cold weather, weaker oil prices. The Fed acknowledged the slowdown in the economy in their last meeting, but provided no clarity as to...
Better than expected unemployment report topped the best year for jobs since 1999. The unemployment rate was 5.6% in December. This was the lowest since June 2008 and better than expectations. Additionally, 250,000 jobs were created and 50,000 more were added to previous months revisions. Unfortunately, wage growth...
Stocks closed 2014 at near record levels as the Dow finished positive for a 6th straight year up 7.5%. This is the longest run of positive gains since 1991 through 1999. The S&P 500 ended the year up 11%. This is now 3 straight years of double digit...
58 dollar per barrel oil? Yep, due to increased supply from the U.S., a strong dollar, and decreased global demand. Retail sales came in up .7% stronger than expected. This is important because consumers makeup two thirds of the economy. Oil Investors have been nervous about slowing...
The 321,000 jobs created in November was a faster pace than economists expected, and the most in 3 years. The unemployment rate remains steady at 5.8%. Average hourly earnings are also up 0.4% which is the most in 18 months. Auto sales were strong this year, and are...
OPEC, in it s most critical meeting in years amidst plunging oil prices because of oversupply and weak globe demand. However, to the surprise of many, the ministers decided not to limit production. Oil prices are at their lowest point in over 4 years below 70 dollar per barrel....
The Bank of China has lowered interest rates to stimulate their economy. Meanwhile, European Central Bank (ECB) President Mario Draghi started their bond buying program to jump start their economy. Central banks cutting interest rates and buying bonds definitely sounds familiar. Existing home sales rose 1.55% in October...